Asset Management Plan - Newcastle City Council

Inventory & Condition Assessment4.0 Inventory & Condition AssessmentAsset Inventory is the foundation stone on which asset management processes areto be built. It is only when appropriate inventory and condition data is available to allstaff involved in the process that an overall view and consistent managementapproach can be achieved.Asset data, both inventory and condition is required to enable the followingprocesses:• Effectively monitoring and reporting on the condition of the highway network,and its individual assets, at any stage throughout its life.• Helping to assess the current levels of service and develop future levels ofservice along with their associated performance indicators.• Identifying future investment strategies, modelling future maintenance options,and developing long term forward programmes, which enable the assessmentof future budget needs.• Conducting valuation assessments for each of the various assets and forpredicting their depreciation over time, bearing in mind any restorative worksundertaken on them.• All of the above meaning that the Council will make well informed, costeffective asset management decisions.A review of the currentinventory available toNewcastle City Council, itslocation, level of detail,currency, and validation isreported within the AssetInformation Strategy (AIS)elsewhere in this document.(See Page 55)The AIS also reports on thegaps in the inventory data andthe steps being taken to fillthese gaps and continuallyupdate the data held, in order toobtain a complete and accurateinventory, with a high level ofconfidence in the data held.27