Setting up the correct asset register structure is an essential first step to ensure you have a useful, informative Asset Management System ('AMS').
The asset register structure needs to reflect how your assets are structure from asset category to asset classes to asset components and will should allow for your data processing and reporting needs. e.g;
a. To perform valuations of assets (from the component level) as required by "fair value" assessments
b. To provide structural layout of assets and link assets/asset components to a GIS system (for viewing spatially)
c. To deliver works orders on an asset or asset component
d. To enter condition (and calculate condition rating) at component level and roll this up to an aggregate at the asset level
e. To generate inspection (inspection orders) and work activities (works orders) against an assets (at component level)
f. Rollup costs for maintenance and capital works for asset components to account for costs at the asset class or category level.
An asset register needs to be simple and not too complicated by "drilling down" too far to too low a level in asset componentisation. e.g.
Major Buildings need to be componentised into key components (defined by new accounting standard);
2. External Walls,
3. Internal walls,
6. Mechanical Equip,
7. Electrical Equip,
8. Internal fit out(?) and grouped perhaps by Room
Any lower levels are generally not significant and should be avoided. Note the more levels in the Asset Register (the more details), the more data that needs to be collected, entered and kept up to date!
There are other asset classes that will need to be included in the "Road Reserve";
Kerb and Gutter (Left & Right)
Footpath (L & R)
Street Trees (if appropriate)
Lower levels might be increasing your workload without a return on this investment e.g. Line Markings, "Cats eyes", road humps(?)
But overall the Asset Register is a reasonably personal (on a Council basis) thing and you should not be hung up on whether you have too many or too few Asset levels - just whether you can deliver the results required by engineering, finance and the community!
Standard Fields & Terminology
Whilst there is currently no Australian Standard that prescribes what fields should be in included in an Asset Register, there have been a few attempts to do so, including:
- The Queensland Roads Alliance's minimum common data set
- The Queensland Roads Alliance's desirable data set.