Managing assets effectively is key for delivering public services in the 21st century. 

The Welsh public sector spends over £500 million per annum running land and buildings worth some £12 billion. However, most organisations’ assets are not keeping pace with changing demands and, as a consequence, do not deliver the best possible value for money.

Managing the competing strategic and operational demands of asset can be complex,
but effective management can support better service delivery, improve public and staff safety, reduce operating costs and contribute to sustainable development.

The way public sector organisations strategically manages their affects their ability to achieve value for money and, ultimately, provide better services. Organisations need to have an agreed corporate strategy which provides a framework to help ensure assets are used effectively to support service delivery.

Asset management can cover a wide variety of assets, including Information Technology, Fleet, Buildings, Land and Facilities.