ENG 710Road Transportation and Road Asset Management
ENG 710Road Transportation and Road Asset Management
Assignment Four Asset Management
Due 11.59 PM 21st October 2022
Introduction
This assignment considers Asset Management.
There are two parts to the assignment;
Part One Short Answer Questions (40 marks)
Part Two Short Essays and Problem Question(60 marks)
The marks for each question are noted in the questions.
This assignment will be assessed based on ILO 1, 3 and 4. These are;1. Explain specific terms and concepts used in infrastructure asset management framework and road transportation engineering.
2. Identify benefits, costs and alternative options relevant to evaluating a road as a transport delivery mechanism;
4. Forecast changes to road infrastructure using road asset management and traffic engineering principles.
The assessment task contributes 40% towards your final grade in this Unit.
Note regarding referencing. It is important to acknowledge the source of information you use, including the unit guide. It is also important to develop your discussion and the suggestions you are asked to make from your research and review by using evidence. That is demonstrate to the reader the source of theory or information you are using to make your point.
A good way to achieve this is to use line or intext pinpoint referencing. Pinpoint referencing will show the page or equivalent of the source material with the author. Your bibliography will provide the full details for the location of the whole document.
Part A
Answer all questions in this part.
Your answers should be presented in your own words do not reproduce information from the unit guide the purpose of this assessment is to present your understanding of the information through discussion and description.
Question 1Asset Management Fundamentals(4 marks)
Discuss the reasons why a long term plan is needed for effective asset management.
Discuss the concept of financial sustainability and its relationship to asset management.
Question 2Strategic Asset Management(10 marks)
Discuss the main components considered in whole of life cost analysis techniques.
Describe the typical hierarchical structure of asset management planning and explain the purposes of strategic, tactical and operational plans.
Discuss the concept of asset management maturity and describe the various levels of maturity.
List the key elements of an AM Policy and explain why a policy is important.
Question 3Levels of Service(4 marks)
a)Describe how level of service is used for managing assets and explain, using examples the difference between customer levels of service and technical levels of service.
b)Discuss the issues that need to be considered in establishing performance measures for the monitoring of actual levels of service and reporting the performance of an organisation against target levels of service.
Question 4Demand Management(8 marks)
Explain how demand management can be used effectively to reduce the need for new infrastructure. Your discussion should include an explanation of what is meant by supply-side and demand-side strategies for meeting future demand.
Discuss the factors that influence changes in demand. Discuss some examples of where the management of infrastructure assets can be influenced by the management of changes in demand or service level.
Explain what is meant by demand forecasting risk. Discuss how these risks can be managed.
Question 5 Condition Assessment(8 marks)
Describe what is meant by the term asset condition and discuss why it is important to monitor condition and what benefits are derived from knowing the current condition and performance level of an asset.
Explain how condition assessment of an asset can be used to determine useful life and comment on how asset condition can be used to identify the optimal timing of maintenance interventions.
Discuss criticality of assets and comment on the concept of remaining useful life of an asset and describe how it can be determined using condition assessment.
Question 6Risk Management(6 marks)
Discuss the key concepts of asset-based risk management and comment on the organisational framework required for a successful implementation of a risk management program.
Describe how probability and consequence is used in risk analysis and comment on the use of a qualitative matrix approach for risk assessment.
Part B
The responses to the two questions below should be presented in short essay style submissions. The suggested maximum word count for each question is noted below.
A marking rubric is provided below for the questions in this part.
Question 7Embracing Asset Management
You are an executive manager at an organisation that provides services through the management of infrastructure. You are asked by the governance body of the organisation (this might be a board or a council) to explain why it is important for an infrastructure service provider organisation to embrace asset management. Discuss what your response would be and how what benefits would flow to the board or council from an investment in asset management.
10 marks (500 words)
The board or council is impressed by your presentation and asks you to implement a program to improve the asset management practice for the organisation. What challenges might you expect to encounter in establishing and implementing such a program. Discuss how you would overcome these.
10 marks (500 words)
Question 8Research - Asset Management Framework
All state governments within Australia now consider infrastructure asset management to be critical to the successful functioning of the assets that make up our modern society. Each of these governments has established a practice management framework that local municipal authorities (local government councils) must follow in respect of implementing asset management.
Listed below are links to information for three state governments (Tasmania, Victoria and New South Wales) in respect of the frameworks they implement.
This question requires you to investigate the asset management requirements for local councils within a jurisdiction and analyse the documentation available for public viewing on the website of a selected council operating in this jurisdiction.
Tasmania: Tasmanian Government Department of Premier and Cabinet website (Scroll down to see the heading Strategic Planning) http://www.dpac.tas.gov.au/divisions/local_government/about_councils/finance_and_planning.
Victoria: Download the document Local Government Asset Management Better Practice Guide 2015 from the DELWP website.
https://www.localgovernment.vic.gov.au/council-innovation-and-performance/financial-and-asset-management
New South Wales: Download the Integrated Planning and Reporting Manual 2013 from the NSW Office of Local Government website.
(This is a lengthy document; you will need to look at Section 3.4 Asset Management Planning).
https://www.olg.nsw.gov.au/councils/integrated-planning-and-reporting/framework/the-resourcing-strategy/Choose one of these jurisdictions, or one you are familiar with from another state in Australia. Discuss from your research
What type of asset management documents must each councils produce? (list and give a brief description of each)
Discuss what reporting requirements there are under this regulation.
10 marks (500 words)
Now select a Council (local government authority) operating within your chosen jurisdiction above. Locate information on the asset management documents published for this selected Council.
Write a discussion describing the documents you have located.
For example, your discussion could consider the following points;
Does the Council have an asset management policy, strategy and plans?
Where these documents easy to find
Do the documents consider condition, levels of service, risk, critical assets?
Has the community been consulted?
What level of maturity are the documents?
What could be done to improve the plans are they compliant with the legislative framework for the jurisdiction?
20 marks (1000 words)
Return to the information in 8a) and b). Research at least one other jurisdictions requirements. Critically compare the regulatory approach adopted by the different jurisdictions. Your discussion should include comment in respect of how effective these different frameworks are in terms of their encouragement of best practice asset management. Your discussion can examine the level of support and guidance provided as well as the level of audit. Conclude with a commentary on which framework you prefer and why.
10 marks (500 words)
Question 9Risk Problem10 marks
Consider a road or transport infrastructure service you are familiar with, or research one. Nominate five risky events or actions that may impact on the capacity of this asset or asset class to provide the expected level of service. Your five risk events should include at least one risk event from each of the following groups;
Natural events
External impacts
Physical failure
Operational risks
Complete a risk analysis, including determining a risk rating for these five events or actions that may impact this asset. That is use the risk and consequence matrix. Record the process you used to determine the risk rating.
Marking Rubric for Part B Question 7 and 8
Q7a) Benefits of Asset Management Very basic information.
2 points Some information about the benefits of asset management. 4 points The information presented is attempts to discuss a number of benefits of asset management. 6 points The information presented is a good quality and addresses most of the benefits of asset management 8 points The information presented is a high quality and completely addresses all of the benefits of asset management.
10 points
Q7b) Implementation Challenges Very basic information.
2 points Some information about the challenges. 4 points The information presented is attempts to discuss a number of challenges and solutions. 6 points The information presented is a good quality and addresses most of the challenges and solutions. 8 points The information presented is a high quality and completely addresses all of the challenges and solutions.
10 points
Q8a&b) Jurisdiction research Very basic analysis undertaken of a jurisdiction. 2 points The response shows some evidence of research and analysis of a jurisdiction.
4 points The response shows evidence and research of a jurisdiction and is generally correct and meets the requirements of a good report with some evaluation and discussion.
6 points The response evidences research of a jurisdiction analysis at a very good level with multiple points of description and is complete with some critical evaluations and discussions.
8 points The response evidences research and analysis of a jurisdiction at a high level with a complete description and high quality standard of critical analysis. 10 points
Q8c) Council research Very basic analysis undertaken of a council. 4 points The response shows some evidence of research and analysis of a council.
8 points The response shows evidence and research of a council, is generally correct and responds to several of the suggested questions with some evaluation and discussion.
12 points The response evidences research of a council analysis at a very good level and responds to most or all of the questions with some strong evaluation and discussion.
16 points The response evidences research and analysis at a high level with a completed description and high quality standard of critical analysis. 20 points
Q8d) Jurisdiction research Very basic analysis undertaken of a comparison of 2 jurisdictions. 2 points The response shows some evidence of research and comparison analysis of 2 jurisdictions.
4 points The response shows evidence and research comparing two jurisdictions, is generally correct and meets the requirements of a good report with some evaluation and discussion.
6 points The response evidences research comparing two jurisdictions analysis at a very good level with multiple points of analysis and is complete with some critical evaluations and discussions.
8 points The response evidences research and analysis comparing two jurisdictions at a high level with a complete description and high quality standard of critical analysis. 10 points
