Electricity Asset Management Plan 2019-2029
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Vector Limited://
Figure 3-2 Document hierarchy
POLICIES Policies are high level statements that outline Vector’s compulsory state of performance. Policies provide statements of fact from which other documentation is developed and aligned. The table below summarises those policies that relate to asset management. Appendix 2 provides an overview of other important asset management policies and related documents that inform specific aspects of Vector’s asset management practice.
SCHEDULE 11A(III) ASSET CATEGORIES
AMP ASSET CATEGORIES
Asset management policy
This policy is Vector’s formative asset management document. It defines the principles and objectives that guide all aspects of our asset management practice. The DA framework applies to all business activities that have financial or non-financial consequences including contracts and expenses. The DA framework set out specific approvals for particular transactions and governs the level of financial commitment that individuals can make on behalf of Vector. All decisions within asset management that require expenditure or involve significant risk will be made under this policy and in accordance with Vector’s project approval process. Under this policy, projects in the early stages of development are given preliminary approval, while final approval must be provided before expenditure is committed. This policy provides the overarching risk management intent that Vector strives for. Its purpose is to (a) outline our key management objectives and the principles underpinning them, (b) provide a framework for optimising opportunities and minimising risks, (c) demonstrate Vector’s understanding and commitment to promoting a culture of risk awareness throughout the organisation, and (d) define key risk management roles, responsibilities, accountabilities and reporting requirements. This policy sets out Vector’s commitments and requirements for health and safety. Vector will conduct its business activities in such a way as to protect the health and safety of all workers of Vector Limited and its related companies (“Vector People”), the public and visitors in its work environment This policy sets out Vector’s commitment for managing the environmental aspects of its businesses and sets out the
Delegated authorities (DA) framework
Risk Management Policy
Health and safety policy
Environmental policy
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