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A physical component of a facility which has value,enables services to be provided and has an economic life of greater than 12 months. Dynamic assets have some moving parts, while passive assets have none. IIMM
An asset is an object (physical or intangible) that has an identifiable value and a useful life greater than 12 months, that is or could be used by the entity responsible for it to provide a service. LGAM
Asset - An item with an independent physical and functional identity and age, within a facility (e.g. pump, motor, sedimentation tank, main). Asset - Service potential or future economic benefits controlled by entity as a result of past transactions or other past events. DERM
The defined service quality for a particular activity (i.e. roading) or service area (i.e. streetlighting) against which service performance may be measured. Service levels usually relate to quality, quantity, reliability, responsiveness, environmental acceptability and cost. IIMM
The principal function of the Emergency Management Plan is to ensure the safety of the community by addressing the prevention of, response to and recovery from emergencies within a municipality.
An organisation such as a Local Council that is responsible for the management of infrastructure assets in a defined local area.
A characteristic of design and installation usually identified by the time and effort that will be required to retain an asset as near as practicable to its new or desired condition within a given period of time.
AIFMG 2009
The value of an asset to the organisation, derived from the continued use and subsequent disposal in present monetary values. It is the net amount of discounted total cash inflows arising from the continued use and subsequent disposal of the asset after deducting the value of the discounted total cash outflows.
IIMM
A risk is the probability of a failure of an asset as a result of the occurrence of a hazard. There may be a resulting cost associated with the risk.
A system supplying a public need such as transport, communications, or utilities such as electricity and water.
An organisation responsible for providing a service.
The defined service quality for a particular activity (i.e. roading) or service area (i.e. streetlighting) against which service performance may be measured. Service levels usually relate to quality, quantity, reliability, responsiveness, environmental acceptability and cost.
IIMM
The current value of a non-current asset of a local government is the loss that it would incur if it were deprived of the asset’s utility (or service potential). (Synonymous with ‘deprival value’.)
DERM