Infrastructure Asset Management Policy

Purpose

To ensure that the University's Infrastructure Assets support the achievement of the University's Vision, Mission and strategic aspirations at the optimal long-term cost.

Organisational scope

This Policy applies to all Infrastructure Assets owned or leased by the University.

Definitions

Asset Management

Managing an organisation's assets to deliver the required level of service, the objective being to meet current and future demand at the optimal long-term cost.

Optimal Long-Term Cost

The cost which provides the optimum balance between capital costs, operating costs and risk over the life of an asset, including consideration of economic, environmental, social and cultural costs.

Infrastructure Assets

All assets classified for accounting purposes as Property, Plant and Equipment, which are owned or leased by the University. This includes land and buildings, site improvements, information technology hardware, plant, equipment and motor vehicles.

Content

1. To guide decisions in the acquisition, operation, maintenance, renewal and disposal of Infrastructure Assets across the University, including the use of best practice, an understanding of the asset lifecycle, and consideration of the current and future needs of users, the University will:
   1. Adhere to all applicable laws, legislation, regulations, and University policies.
   2. Operate, maintain and manage Infrastructure Assets at defined levels of service to support the Vision, Mission and strategic aspirations of the university as defined in Vision 2040, Pae Tata: Strategic Plan to 2030, and other strategic documents.
   3. Monitor standards and service levels to ensure that they meet/support the agreed Asset Management goals and objectives.
   4. Apply informed decision-making principles around all Infrastructure Asset decisions, considering and balancing risk against cost, sustainability, equity and performance outcomes.
   5. Develop and maintain asset inventories of all Infrastructure Assets at sufficient detail to enable achievement of a minimum of Intermediate rating on the Tertiary Education Commission's Capital Asset Management maturity rating scale.
   6. Establish Infrastructure Asset replacement strategies using optimised life cycle costing principles.
   7. Plan financially for the appropriate level of operation and maintenance of Infrastructure Assets to deliver the defined service levels.
   8. Ensure there are sufficient resources to deliver on the Asset Management objectives.
   9. Plan for and provide stable long-term funding to replace and/or renew and/or decommission Infrastructure Assets.
   10. Consider and incorporate Asset Management requirements and achievements in other corporate plans as appropriate.
   11. Demonstrate accountability and responsibility in its Infrastructure Asset Management through regular reporting on the status and performance of the implementation of this Asset Management policy.
   12. Implement a continuous improvement programme to ensure Infrastructure Asset Management meets policy objectives.
2. To give effect to the above, the University will ensure that a current Strategic Asset Management Plan is in place at all times, reviewed biennially by the Asset Management Committee and approved by the Senior Leadership Team.
   1. The University's Asset Management Committee will guide and monitor the implementation of this Policy and the Strategic Asset Management Plan.
   2. The University's Asset Management Committee will regularly review, and if appropriate update, this Policy and any associated supporting documents.

Related policies, procedures and forms

• Vision 2040 (PDF)
• Pae Tata: Strategic Plan to 2030 (PDF)
• University of Otago Information Framework (PDF)
• Ti Kōuka: The Sustainability Strategic Framework 2022-2030 (PDF)
• Risk Management Framework (PDF)
• Equity and Diversity Strategic Framework
• Te Aka Whakaranea ā-Ao / Internationalisation Framework 2021-2025 (PDF)
• Fixed Assets Procedure
• IT Workstations Policy
• IT Workstations Procedure
• Mobile Device Policy
• Strategic Asset Management Plan
• Ethical Procurement Policy
• Procurement Procedure
• Risk Management Policy
• Equity and Diversity Policy / Kaupapa Here Ararau Tōkeke
• Campus Design for Access and Mobility Policy
• Space Management Policy
• Seismic Policy
• Seismic Guidelines
• Guidelines for Waste Minimisation and Management
• Asbestos Management Policy
• Business Continuity Management Policy
• Projects Governance and Management Policy
• Insurance Procedure

Contact for further information

If you have any queries regarding the content of this policy or need further clarification, contact:

The Head of Asset Management
Property and Campus Development
Email assetmanagement@otago.ac.nz