Recommendation
42. Incentivise improvements in asset management across the public sector by:
- introducing a new budget allocation for state agencies and government trading enterprises to implement fit for purpose asset management planning, capability building and systems
- establishing an asset lifecycle investment fund, or similar incentive mechanism, to reward good asset management practice and support funding submissions that demonstrate strong alignment with service delivery outcomes and optimised asset use.
WA Government response
The WA Government responded to Foundation for a stronger tomorrow in February 2023. Recommendation 42 is partially supported. For further information please refer to the response document.
Actions:
42.58 Assess whether an incentive scheme is required to drive improvements in asset management practice
Current Implementation Progress
1/1 actions on schedule
42.58 On schedule
Finance, in collaboration with Treasury and Infrastructure WA, is considering incentivisation to drive improvements in asset management, with preliminary options being assessed.