Understanding and managing campus assets better
This asset management study provided valuable data and insights for both financial planning and the ongoing management of the polytech’s buildings assets.
Christchurch Polytechnic Institute of Technology (CPIT) is one of New Zealand’s largest tertiary institutions educating about 30,000 students a year.
In 2008 we completed a comprehensive strategic asset management study for CPIT, to provide intelligence for medium and long term financial planning for the management of the polytech’s physical assets. These assets included buildings, plant, site services and faculty owned equipment.
Our Christchurch Property Services group assembled an experienced team including electrical engineers, civil engineers and asset management specialists.
The project included:
- Bar coding and photographing all plant and equipment
- Determining risk based on importance, condition and functionality
- Asset condition assessment
- Replacement cost estimation
Information gathered was used to generate future annual cost estimates for replacement of capital assets for the next 20 years. The project called for a balance of the sometimes conflicting requirements of the Australasian Associates of Higher Education Facilities Officers, New Zealand Treasury and NAMS to tailor the deliverables for this study.