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Asset Management Strategy

Efficient use of public assets, and effective asset management processes that unlock value

Project Description

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.

Project Status

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.
Titanic Belfast