Transforming how asset information is managed
The Asset Information Strategy is TfNSW’s approach to transforming how asset information is managed. The vision is to provide cluster-wide structured asset information and data to support effective decision making at all stages of the asset lifecycle.
TfNSW is experiencing multiple challenges in the asset management landscape including: lack of confidence in information quality; asset information is not valued as an asset; fragmented, high-cost, unsustainable technology portfolio, lack of ownership leading to information value erosion; inefficient operations and reduced clarity of decision making; information quality degradation leading to higher costs and incompatibility; lack of visibility regarding the performance, risk, condition, planning and delivery of Transport assets.
The Asset Information Strategy will address these challenges by providing one integrated framework, standards, systems and approach for asset management. Delivering Asset Information Strategy initiatives will: enable TfNSW to comply with the NSW Treasury Asset Management Policy, support a sustainable future for TfNSW as part of the Asset Future Sustainability Program, transform how we manage asset information as an asset at TfNSW, and provide an optimised application portfolio with visibility of the whole-of-life asset management lifecycle.
The Asset Information Strategy is being implemented through a number of business and technology transformation initiatives.
The TACP (Transport Asset Custodian Platform) and RAISI (Road Asset Information Strategy Implementation) programs are headline initiatives within the Asset Future Sustainability Program which are fundamental to delivering on our asset information strategy and transforming how we manage asset information as an asset at TfNSW.
Achievements
TACP Tranche 1 was delivered in June 2024. This asset reporting and analytics tool has enabled a Transport-wide consolidated asset register, encompassing +$200 billion in network assets being managed across 750+ service providers, and also enabling compliance with NSW Treasury Asset Management Policy requirements. TACP is underpinned by a revised and uplifted suite of asset data and information standards, asset information and technology governance frameworks and functioning governance forums. The RAISI program is in the process of transforming and designing an enterprise asset management system for internally maintained road assets.
Engagement
The Asset Information Strategy will impact and have benefits for all Transport Asset Owners, Custodians and Stewards (delivery and maintenance). TfNSW is actively collaborating with NSW and National Government Agencies in the development of asset data and information standards, asset information and technology governance as well as technology enablers. Transport Asset Custodian Platform (TACP) has been designated as a candidate State Digital Asset (Common), and is currently under consideration by Department of Customer Service.
Department leading the project
Transport for NSW