Asset criticality methodology is a systematic process for evaluating and ranking assets based on their importance to an organisation’s operations, safety, and financial success.
The following information further explains the attributes selected for inclusion in the methodology.
Activity centre — this is the activity category of the location the facility is in. Atherton is a major activity centre; Malanda and Ravenshoe are district activity centres; Herberton, Tolga and Yungaburra are village activity centres, and the remaining are rural and rural village activity centres. The attribute aligns the scoring with the Planning Scheme and Community Facilities Strategy aiding in the organisation achieving its long-term goals and objectives. The level of service provision and growth of the region’s towns are consistent with their role and function within the hierarchy of regional centres resulting in the public asset being more accessible to more population.
Utilisation – this attribute provides transparency to the community in the usage rates of the facility with the objective of increasing utilisation across the portfolio. High utilisation of a public building is important for creating sustainable, community-focused, and economically viable spaces. It ensures resources are used efficiently by maximising use, reducing waste, and promoting social interaction, safety, and well-being. A well-used public building is more likely to have a positive impact on community health and productivity.
Alternatives available – this attribute aids in clearly identifying surplus assets where the building can facilitate numerous different services and community groups. Identifying surplus assets is important because it helps organisations, reduce costs, improve efficiency, and ensure regulatory compliance. By divesting underutilised or idle assets, organisations can prevent unnecessary expenses.
Heritage listed – this attribute provides a scoring for buildings that are registered under the QLD heritage. Heritage listing is important because it provides legal protection for culturally, historically, and environmentally significant places and objects thus resulting in prioritisation for maintenance, renewal, and upgrade programs.
Place of Refuge – this attribute identifies buildings that are included in TRC’s disaster management. The inclusion of this criteria will ensure that Places of Refuge are regularly maintained, renewed and upgraded resulting in a fit-for-purpose ready to use building should a disaster ever strike.
Through the use of defined asset criticality methodology, the community and organisation should see the following benefits:
- Eliminating subjectivity of which assets are critical and deliver the most value to the organisation and community.
- Improved prioritising of maintenance planning and scheduling.
- Improve prioritising of capital renewal, upgrades, and disposals.
- Improve rationalisation and targeted budget spending.
- Improved communication with transparent and measurable services to the community.
