The unit introduces students to the key principles that underpin the strategic approach to managing physical infrastructure. It commences by highlighting the importance of identifying and integrating an appropriate asset management framework within an organisation’s corporate planning.

The unit then considers the application of appropriate asset management processes to improve the service delivery provided to stakeholders. It outlines how to plan for and manage changes in demand for services, which includes the need to develop relevant and meaningful levels of service in consultation with the community or customers.

Since asset management involves significant amounts of data, the unit studies the challenges of managing, collecting and storing the data to inform decision making and to assist with the condition assessment of assets.
The unit then outlines the application of risk management principles and processes to infrastructure asset management. Lastly optimised decision making techniques are introduced and examined with regard to how they add value to asset management.

During the Unit, students will be introduced to a variety of important references such as the ISO55000 series of Asset Management Standards, the new IIMM (International Infrastructure Management Manual 2020), the Austroads Guide to Asset Management (GAM) 2018 series, and AMBok (Asset Management Body of Knowledge).