The Roads and Transport Directorate engaged the University of Sydney’s Jacaranda Flame Consulting (JFC) to prepare this Asset Management Glossary document, as many organisations are currently using different definitions within asset management.
The document is aimed at public works professionals working in local government, professionals who are not specialised in asset management. It was developed to explain key concepts and terminology used within asset management in a plain and simple form.
The Asset Management Glossary was compiled based on the analysis of existing documentation from all 128 local councils in NSW. This document is based on information provided by asset managers with an engineering background.
The definitions used by councils were checked for accuracy against the Asset Management Body of Knowledge (AMBoK), Local Government & Municipal Knowledge Base (LGAMKB) and documentation from the Institute of Public Works Engineering Australasia (IPWEA). The IPWEA documentation used included the International Infrastructure Management Manual (IIMM) and Australian Infrastructure Financial Management Guidelines (AIFMG).
To read the final project report and for more information on other JFC projects, go to the page here.
The Glossary is available for download with member council accesss or by registering for free.