Appendix 1: Asset challenge process map
Annual review cycle
Strategic fit and purpose
- How does the asset contribute to and/or detract from our corporate priorities?
- Which category does this asset sit within?
- Does this asset meet our expectations for this category?
Performance of the asset
- What financial and non-financial outcomes does the asset deliver?
- What financial and non-financial benefits are associated with the asset?
Asset decision process
Opportunities and risks
- Does this asset present opportunities beyond its current use?
- Is there anything stopping these opportunities being realised, and if so can any barriers be removed?
- What risks would the opportunity present and how can these be managed?
- Are there any risks associated with the asset in its current form? Are these being /can these be effectively managed?
- Review of performance, opportunities and risks against our Corporate Priorities
- What options are available for the future of this asset?
- What are the costs and benefits of the options?
- How would risks arising through pursing alternative options be managed?
- Internal Stakeholders
- Residents, community groups and others depending on the specific site and/or asset - site and asset dependent
- Asset Management Working Group
- Relevant decision making commitee (if necessary)
Asset challenge outcome
- Retain Asset
- Redevelop Asset
- Dispose of Asset
- Acquire Asset