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Asset Criticality Assessment for New Zealand

Asset Criticality Assessment Template for New Zealand

A comprehensive document used in New Zealand to evaluate and document the criticality of organizational assets, aligning with both New Zealand regulations and international asset management standards. The assessment identifies and analyzes critical assets based on their importance to business operations, safety implications, and regulatory requirements. It provides a structured framework for understanding asset significance, associated risks, and recommended management strategies, while ensuring compliance with New Zealand's health and safety, environmental, and infrastructure-related legislation.

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What is a Asset Criticality Assessment?

The Asset Criticality Assessment is a crucial document used in New Zealand to systematically evaluate and classify organizational assets based on their importance to business operations, safety considerations, and compliance requirements. This assessment is particularly vital for organizations managing significant infrastructure or asset portfolios, helping them prioritize resources and maintenance efforts effectively. The document aligns with New Zealand's regulatory framework, including the Health and Safety at Work Act 2015 and the Infrastructure Commission/Te Waihanga Act 2019, while incorporating international asset management best practices. It serves as a foundation for strategic asset management decisions, risk mitigation strategies, and resource allocation planning. The Asset Criticality Assessment is typically conducted during major organizational changes, as part of regular asset management reviews, or when establishing new asset management frameworks.

What sections should be included in a Asset Criticality Assessment?

1. Executive Summary: Overview of the assessment's key findings, critical assets identified, and major recommendations

2. Introduction: Purpose of the assessment, scope, and organizational context

3. Methodology: Description of the assessment approach, criteria, and rating systems used

4. Asset Register Overview: Summary of assets included in the assessment, their categories, and current status

5. Criticality Assessment Criteria: Detailed explanation of criteria used to assess asset criticality, including impact categories and scoring methodology

6. Risk Assessment Framework: Framework used to evaluate risks associated with critical assets, including likelihood and consequence matrices

7. Critical Asset Analysis: Detailed analysis of assets identified as critical, including their current condition and importance to operations

8. Business Impact Analysis: Assessment of the potential impact of asset failure on business operations, safety, and regulatory compliance

9. Recommendations: Prioritized recommendations for managing critical assets, including maintenance strategies and risk mitigation measures

10. Implementation Plan: Timeline and resource requirements for implementing recommended actions

What sections are optional to include in a Asset Criticality Assessment?

1. Environmental Impact Assessment: Additional section when critical assets have significant environmental implications or are subject to Resource Management Act requirements

2. Security Assessment: Detailed security analysis for assets requiring specific security measures or classified as nationally significant infrastructure

3. Financial Analysis: Detailed cost implications and financial modeling for critical asset maintenance and replacement

4. Stakeholder Analysis: Analysis of stakeholder interests and impacts when the assessment affects multiple parties or public interests

5. Regulatory Compliance Review: Specific section for assets subject to special regulatory requirements or industry-specific regulations

6. Emergency Response Procedures: Section required when assets are crucial to emergency response or business continuity

7. Technology Dependencies: Analysis of technical dependencies and systems integration for technology-dependent assets

What schedules should be included in a Asset Criticality Assessment?

1. Schedule 1: Asset Register: Detailed listing of all assets assessed, including their identification numbers, locations, and basic characteristics

2. Schedule 2: Criticality Matrix: Detailed scoring matrix showing how each asset was rated against the criticality criteria

3. Schedule 3: Risk Assessment Results: Detailed risk assessment results for each critical asset

4. Schedule 4: Maintenance Requirements: Specific maintenance requirements and schedules for critical assets

5. Appendix A: Assessment Methodology: Detailed explanation of the assessment methodology, including rating scales and criteria definitions

6. Appendix B: Data Collection Forms: Templates and forms used in the assessment process

7. Appendix C: Reference Standards: List of relevant standards, regulations, and guidelines referenced in the assessment

8. Appendix D: Technical Specifications: Technical details and specifications of critical assets

9. Appendix E: Photographic Evidence: Visual documentation of critical assets and their current condition

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

New Zealand

Publisher

Genie AI

Cost

Free to use
Relevant legal definitions



































Clauses

























Relevant Industries

Infrastructure

Manufacturing

Energy and Utilities

Transportation

Healthcare

Mining and Resources

Local Government

Education

Telecommunications

Commercial Real Estate

Industrial

Agriculture

Water and Wastewater

Public Sector

Relevant Teams

Operations

Maintenance

Engineering

Risk Management

Health and Safety

Compliance

Facilities Management

Technical Services

Asset Management

Infrastructure Planning

Quality Assurance

Project Management

Relevant Roles

Asset Manager

Facilities Manager

Operations Director

Risk Manager

Maintenance Manager

Chief Operations Officer

Infrastructure Manager

Technical Director

Engineering Manager

Health and Safety Manager

Compliance Officer

Project Manager

Plant Manager

Property Manager

Sustainability Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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