Integrating asset management across Fremantle ports

Asset ownership is a significant cost to Fremantle Ports and developing a best practice strategic asset management (SAM) framework that provides a simple, logical and innovative approach for optimising the whole of life cycle cost of asset delivery in meeting the agreed levels of service and risk exposure has been a corporate priority over the past years. With the development and implementation of the SAM framework well underway, Fremantle Ports now focuses on the integration of asset management practices across the business, from operational through to tactical and strategic planning. A pilot project has been proposed to assess and improve asset management practices across one of Fremantle Ports' most critical asset classes, the wharves and jetties. This paper reviews the findings and challenges of this project and the various tools that were developed, including a life cycle cost model. This model is based on asset condition and related deterioration curves that allow for the estimation of remaining life. In addition, the model enables the selection of most cost effective rehabilitation strategies while considering risk profile and available funding, assisting Fremantle Ports in optimising the decision making process by providing an actual and an optimised life cycle cost plan.