2 Record assets and their condition 2.1 Specified details of material assets are identified and recorded in accordance with asset management policies and procedures

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1 

Identify designated area of responsibility 

1.1

Designated area of responsibility is identified in accordance with organisational requirements

1.2

Contribution is made to maintaining asset register on the basis of current and ongoing needs, in accordance with organisational requirements

1.3

Assets to be recorded in asset register are identified in accordance with organisational requirements

2 

Record assets and their condition 

2.1

Specified details of material assets are identified and recorded in accordance with asset management policies and procedures

2.2

Condition of each asset is determined and corrective maintenance tasks are recorded in accordance with manufacturer specifications, relevant Australian standards and organisational requirements

2.3

Useful/residual life of each asset is determined as required, in accordance with manufacturer specifications and organisational requirements

3 

Maintain asset management system records 

3.1

Records of asset management activities are updated in accordance with organisational requirements

3.2

Periodic audits are conducted to ensure accuracy of asset register in accordance with organisational requirements

3.3

Contribution is made to asset management system review to ensure it is supporting business needs, in accordance with organisational requirements

3.4

Guidance is provided to support effective management and maintenance of asset register, in accordance with organisational requirements