The Asset Management Accountability Framework details mandatory asset management requirements, as well as general guidance, for government agencies responsible for managing assets in the state of Victoria. It provides support and guidance on four stages of an asset lifecycle: planning, acquisition, operations and maintenance, and disposal.
The framework applies to non-current (physical and intangible) assets of government departments and is mandatory for the following aspects: developing asset management strategies, governance frameworks, and performance standards and processes to regularly monitor and improve asset management. The requirements also include establishing systems for maintaining assets and processes for identifying and addressing performance failures.
Publication Date: 2016