AQW 23813/11-15

Mr Jim Allister KC
Traditional Unionist Voice
North Antrim

Tabled Date: 31/05/2013
Answered On Date: 25/06/2013
Priority Written: No

Question:
To ask the First Minister and deputy First Minister, pursuant to AQW 23135/11-15, to explain the terms Asset Management and Commercialisation; and to list the individual projects and the value of consultancy where support is listed as (i) Asset Management; and (ii) Commercialisation.

Answer:

Asset Management is the process which aligns business and (primarily physical) asset strategies, ensuring the optimisation of an organisation’s assets in a way which best supports its key business goals and objectives. Although it is primarily a strategic activity, it is also about ensuring that assets are managed efficiently and effectively on a day to day basis.

In the context of Central Government asset management, the Executive approved the recommendations of the Capital Realisation Taskforce Review report on 27 January 2011, the key recommendations were;

The creation of a central Asset Management Unit (AMU)

The development of a region-wide Corporate Asset Management Strategy

The development of individual departmental Asset Management Plans

The use of an electronic database (ePIMS) to create a Central Asset Register across the public sector

While the AMU facilitates, promotes and co-ordinates asset management activity across the public sector, it is the responsibility of all public sector organisations to effectively manage their property resources in line with Executive strategy and business needs.

Commercialisation is the use of public assets for non core activities to generate additional revenues. These assets can be tangible (e.g. forest estate) or non tangible (e.g. Intellectual Property (IP) and licensing), where the public purse seeks a return on its investment. The Strategic Investment Board has most recently provided assistance to the Department of Agriculture and Rural Development, Agri-Food and Biosciences Institute, the Department of Culture, Arts and Leisure and the Forest Service in the commercialisation of their assets.

A table giving the breakdown of Asset Management and Commercialisation projects has been placed in the Assembly Library.