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.