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?

Option analysis

  • 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?

Stakeholder engagement

  • 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