Asset Management Strategy
Efficient use of public assets, and effective asset management processes that unlock value
In January 2011 the Northern Ireland Executive approved a number of initiatives aimed at transforming the way it manages publicly owned assets, including:
- The creation of a central Asset Management Unit (AMU)
- The creation of a central Asset Register across the public sector
- The development of departmental Asset Management Plans (AMPs)
- The development of a region wide Asset Management Strategy (AMS)
In June 2013 the Executive approved a region wide Asset Management Strategy (AMS) for publicly owned assets.
The objectives of the Strategy are to:
- reduce the net cost of service delivery through the efficient use of public assets, and
- promote effective asset management processes that unlock value.
The Strategy promotes, facilitates and delivers modern public sector asset management practices through a variety of crosscutting and standalone initiatives commissioned and closed on a rolling annual basis.
The Strategy remains live. Achievements and benefits to date include:
- 2011: establishment of the Asset Management Unit (AMU)
- 2012: commencement of annual departmental Asset Management Plans
- 2013: approval of the Executive’s Asset Management Strategy
- 2014: introduction of Property Controls across the office estate
- 2016: asset management planning guidance issued as a companion document to MPMNI
- 2016: appointment of departmental Asset Management Plan SRO’s
- 2016: SIB Asset Management professional Services Framework launched
- £80.9m of annual gross resource efficiencies realised by March 2018
- £223m of incremental capital realised by March 2019
- £121.6m investment in property, invest to save initiatives, achieved by March 2019 returning £12.6m p.a.