Asset Management and Accountability Framework

Make sure your organisation meets the mandatory requirements of the Asset Management and Accountability Framework.

Asset management is an organisation’s coordinated activities to realise the full value of assets in delivering service delivery objectives. It is carried out over the whole asset lifecycle.

Key stages

The 4 key stages of the asset lifecycle are:


Identify the asset need, based on an assessment of delivery needs and the existing asset base.


Procurement of assets to meet an identified need, based on an assessment of all options.

Operation and maintenance

Management and use of an asset to deliver services, including maintenance.


Retirement of an asset that is no longer needed, useful or high-performing.

This diagram shows the 4 stages of the asset lifecycle.

The 4 stages of the asset lifecycle

Asset Management Accountability Framework

The Asset Management Accountability Framework (AMAF) replaces the Sustaining Our Assets Framework.

The AMAF helps your organisation manage your asset portfolios and provide better services for Victorians.

The AMAF is non-prescriptive in its requirements and devolved.

Reviewed 29 August 2019

Was this page helpful?