2019 was a huge year for the Australian asset management space. Upgrade and development projects are underway all over the country; digital technologies are driving change across multiple sectors; and the effects of climate change are placing greater demand on asset managers to develop comprehensive resilience strategies for our critical infrastructure. Here, we take a look at the five biggest asset management stories for 2019.
Getting asset management right: a new framework
The management and use of NSW’s assets must become smarter, more productive and efficient to manage the upward pressure on maintenance requirements and expenditure. Rami Affan, Executive Director, Asset Management, Infrastructure NSW, explains why the 2018 NSW State Infrastructure Strategy presents key recommendations for how best to do this.
Victoria’s new Digital Asset Strategy
With Victoria set to break ground on some of the biggest infrastructure projects in the state’s history, a new digital asset strategy seeks to improve the delivery and whole-of-life management of Victoria’s projects and assets. As the fastest growing state in Australia, Victoria recognises the important role of data and information in effectively delivering world-class infrastructure and services to meet the demands of its population. That is where the Victorian Digital Asset Strategy (VDAS) comes into play.
NSW engages with industry for Sydney Road Asset Performance contracts
In October 2019, the New South Wales Government began engaging with industry on the next Sydney Roads Asset Performance Contracts, which will help to shape the city’s future road maintenance. Transport for NSW Director Project Implementation, Matt Sweeting, said the latest Industry Liaison session in Sydney was another important step as Transport for NSW works to award new contracts to start in 2021.
Major infrastructure asset owners commit to emissions targets
The latest data from the Clean Energy Regulator shows that infrastructure-related emissions account for more than half of Australia’s total carbon output, with power stations alone accounting for 50.3 per cent of emissions. In August 2019, asset owners across Australia including Melbourne Airport, Brisbane Airport, Northern Territory Airports (Darwin Airport and other NT airports), Ausgrid, NSW Ports (Botany and Kembla), the Port of Brisbane, and Southern Cross Station in Melbourne, committed to emissions reductions targets to 2030 and beyond.
Sydney Harbour Bridge’s laser cleaning technology
A collaboration between the Australian Nuclear Science and Technology Organisation (ANSTO), Australian universities and the NSW Government will see new laser technology used on the 90-year-old Sydney Harbour Bridge to deal with corrosion and material degradation. Professor Anna Paradowska, Industry Engagement Manager, Australian Centre for Neutron Scattering, ANSTO, explains how nuclear science is helping preserve one of our most iconic pieces of infrastructure.
The third Asset Management for Critical Infrastructure Conference also took place in 2019, bringing together leaders from the infrastructure and utility sectors for two days of in-depth discussions on the biggest issues facing Australia’s asset managers. The conference will be back again in 2020, bigger than ever! Stay tuned for the upcoming announcement.