Department of Treasury & Finance
State Government of Victoria
State Government Victoria
Department of Treasury & Finance
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Asset Management in the Victorian Public Sector

Asset management relates to the prudent administration of assets. It may be defined as:

'A comprehensive and structured approach to the long term management of assets as tools for the efficient and effective delivery of services.'

Asset management is relevant to the whole of asset life, and encompasses four key stages of the asset lifecycle:

  1. informed and proactive decision making regarding asset investment;
  2. procurement of appropriate assets;
  3. maintaining, upgrading and operating assets; and
  4. managing the treatment of assets at the end of their useful life.
In Victoria, asset management is undertaken in accordance with the Victorian Government's Asset Management Policy, Sustaining Our Assets (2000), and the Asset Management Framework.

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Asset Management Policy

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