Best Practice

A best practice is a method or technique that has consistently shown results superior to those achieved with other means, and that is used as a benchmark.

National Asset Management Assessment Framework

The National Asset Management Assessment Framework refers to best practice a number of times, listing the following measures:

Staff are trained in best practice operating and maintenance procedures and activities.

In relation to the financial reporting framework in the Annual Report, the Annual Report addresses the following issues in accordance with relevant state policies, Australian Accounting Standards and other best practice guidelines:

white-pixel.pnga. Asset valuations and revaluations
white-pixel.pngb. Asset acquisitions including capitalisation policy
white-pixel.pngc. Asset disposals

There are documented Asset Management Plans for all material asset groups in a consistent format in accordance with industry best practice (E.g. Appendix A of the International Infrastructure Management Manual (IIMM)) available to all relevant staff across the organisation.

Related Pages

External Links & References

  1. Wikipedia
  2. Google Search
  3. IPWEA Best Practice Discussion
  4. Best Practice Network
  5. Best Practice: Motivator or Millstone? - David Hope
Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License