Asset Management for Councils and the Incentive Fund
Councils are being asked to prove their Asset Management capabilities to gain access to increased funding for their Highways Maintenance Capital Funding. Funding is available through the Incentive Fund.
This move brings highways in line with many other regulated industries such as Water and Power. These industries have to submit Asset Management plans to regulators to secure funding. Maturity in Asset Management demonstrates to the regulator that the organisation is investing optimally in their asset base which gives the best value for stakeholders.
Councils are seeking to gain Band 3 status in their submissions to secure the highest level of funding from the 2020/21 round of Incentive Funds. This year in particular has the most at stake with Band 1 submissions receiving no extra funding.
To apply for the Incentive fund, councils must complete a self assessment questionnaire which consists of 22 questions. The requirements for each band are clearly shown for each question.
We have been helping councils gain Band 3 through our Asset Management Courses which cover areas such as:
- How to write an Asset Management Policy and strategy for highway infrastructure
- How to demonstrate alignment in the Asset Management strategy with SMART objectives and how to communicate these
- Understanding and communicating with stakeholders
- Management of Asset data
- Highways lifecycle planning – what goes into a lifecycle plan and how to optimise using them
Our courses cover this and much more. We offer a bespoke course for councils and welcome delegates from different councils to come together on the same course.
Our Asset Management eLearning is the perfect opportunity for delegates working from home to study Asset Management.
For more information about how we can help you, please contact us.
