If your asset valuations are due to be updated, then they need to be added to your AMP project plan.

Some issues to consider:

• • Is your asset register up to date, and specifically – have all the additions and deletions been completed?

• • Are there sufficient quality assurance processes in place to support the additions and deletions?

• • What is the cut-off date for additions and deletions?

• • Are your asset unit rates up to date, and do you have sufficient information to support the unit rates you are using?
  • Are your valuations going to be externally reviewed?  If yes, have you engaged the reviewers and allowed sufficient time for the review?

Much of the preparatory work for asset valuation updates can be undertaken now, concurrently with additions and deletions.

Analysis of asset valuations and forecasts of future changes in valuation can provide important insights that can be included in the asset lifecycle management plans.

Asset valuations are part of the core information presented in an asset management plan, and as such, any updates need to be completed in time to be inserted into the AMP, and results and changes included in the asset lifecycle and financial sections of the Asset Management Plans.

PHOTO CREDIT: Te Apiti Wind Farm by Ross Waugh