Introduction to Asset Management in the Public Sector

The programme

Programme overview

This Introduction to Asset Management in the Public Sector course, which aims to introduce you to various concepts regarding asset management – an aspect that is becoming ever more important at all levels of government today.

You are no doubt conversant with government’s quest for improved service delivery and the high premium placed on building the capacity of public service that, amongst others, use resources effectively, are innovative and continually raise service standards. This training course enables you as a public service in supply chain management to build the necessary knowledge, skills and values that will enable you to improve your own levels and standards of service excellence.

Purpose

To build capacity within the public service by introducing fundamental asset management concepts at a level comprehensible to all public servants who may not yet have been exposed to these concepts

Who should attend

Who is this programme for?

This Introduction to Asset Management in the Public Sector course is ideal for:

• Senior government officials
• Finance and asset management professionals
• Compliance officers
• Procurement specialists
• Audit and risk assessment personnel

Learning outcomes

What you will learn

By the end of this Introduction to Asset Management in the Public Sector training programme, participants will be able to:

• Understand the foundations of public sector management and the legislative environment governing asset management, including key Acts, Treasury Regulations, and policy frameworks.
• Explain the principles, purpose, and importance of asset management within the context of efficient public service delivery.
• Identify and classify different types of assets including current and non-current, tangible and intangible, movable and immovable assets and understand their characteristics and management implications.
• Apply asset management principles across the full asset life cycle, from planning and acquisition to operation, maintenance, and disposal.
• Develop and implement asset management strategies and plans that align with organisational goals, service delivery needs, and budgetary constraints.
• Plan and budget for asset-related costs, ensuring financial controls, documentation, and accountability are maintained throughout the process.
• Execute proper acquisition processes in line with procurement regulations, including evaluating tenders, managing risks, and recording assets in compliance with policy and audit requirements.
• Implement maintenance and performance management systems to extend asset life, ensure reliability, and optimise operational efficiency.
• Apply disposal frameworks and procedures that comply with legislative requirements, ensuring transparency, value for money, and accurate accounting for disposals and transfers.
• Maintain and update asset registers to ensure accurate classification, valuation, verification, and reporting of all assets within the organisation.
• Apply basic financial accounting principles in determining asset costs, depreciation, reconciliation, and financial statement disclosures in accordance with public sector accounting standards.
• Manage immovable assets strategically, including investment properties and infrastructure, through the development of comprehensive immovable asset management plans.
• Integrate asset management practices into broader organisational planning, budgeting, and reporting frameworks to promote sustainability, accountability, and compliance.

Explore the programme

Detailed programme outline

Unit 1 –Introduction to Management & Public Sector Legislation

• Basic principles of management
• Background to asset management in the public sector
• Overview: legislative framework –public sector asset management
• Background to asset management in the public sectorTrends in public sector accountingAssets in the public sectorReason for asset management
• Overview: legislative framework –public sector asset managementThe ConstitutionPublic Finance Management ActMunicipal Finance Management ActGovernment Immovable Asset Management ActTreasury RegulationsAsset Management FrameworkRegulating policies related to the public sectorOther legislation and prescripts

Unit 2 –Asset

• Classification of assetsNon-current (capital) and currentTangible and intangibleMovable and immovable
• Characteristics of assets
• Asset managementDefinition
• Factors impacting on asset managementAsset management principlesAsset life-cycleUser needs
• Asset management principlesFocus on service deliveryIntegrated approach to planning and managementAsset management policy framework
• Asset management strategies and asset management plans

Unit 3 –Asset Life-cycle: Planning and Budgeting

• Asset strategy development
• Asset management plans
• Planning and budgeting costs
• Controls
• Budget planning
• Documentation required
• Managing for success

Unit 4 –Asset Life-cycle: Acquisition

• Acquisition decisions
• Options for acquiring an assetPurchasing/buyingBuildingHiring/leasingTransfersExchanges
• Life-cycle cost
• Risks and benefits
• Acquisition plans
• Key functions of acquisition phaseFollow acquisition processEvaluate and compare provider/vendor proposals and tendersOrderTake delivery
• Recording assets in asset registerAsset policyAsset register requirementsControls

Unit 5 –Life-cycle: Operations and Maintenance

• Asset maintenanceMaintenance requirements
• Maintenance strategies
• Comprehensive plan
• Level of maintenance requiredMaintenance prioritiesMaintenance policies
• Asset performance
• Accounting for maintenance and depreciation
• Key functions and services delivered

Unit 6 –Asset Life-cycle: Disposal

• Regulatory framework
• Reasons for disposal
• Asset policy implications
• Requirements for good disposal process
• Disposal options
• Disposal planDisposal decisionDisposal methodsDisposal of landTerminating control of assetAssessment of performance / post-disposal reviewCostAccounting for disposals/transfers

Unit 7–Classification of Assets and the Asset Register

• Classification of assets
• Asset register
• Financial disclosure
• Movement of asset in and out
• Remaining useful life
• Updating the asset register
• Asset value
• Asset thresholds
• Loose tools
• Asset register and purpose of verification

Unit 8 -Financial Accounting for Assets

• Introduction and key concepts of basic accounting
• Determining costs of assets
• Useful life, economic life, residual value
• DepreciationAccounting for depreciation
• Asset reconciliationGeneral ledger with asset control accounts
• Disclosure in annual financial statementsDisclosure for each class –financial statementsDisclosure –accounting policiesDisclosure notes

Unit 9 –Immovable Assets

• Principles of immovable asset management
• Strategic requirements for immovable asset management
• Investment property
• Accounting for immovable assets
• Application of concept: developing an immovable asset management plan

Learning approach

How you will learn

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.– Course Material: Access well-crafted supporting resources.– Group Work: Collaborate on discussions and case studies for practical insights.– Workshops & Role-Play: Participate in immersive, scenario-based activities.– Practical Application: Focus on applying theoretical knowledge in real situations.– Post-Training Support: Receive extensive support after training for skill implementation.

Discuss your requirements

Dates, duration & arrangements

Contact Ratomac to confirm dates, duration, delivery format, entry requirements and any applicable assessment or certification before booking.