There  are  some  broad  trends  internationally  which  are  discernible  in  the  development of asset management as a distinctive discipline and which have  been summarised succinctly by Kaganova (2003). These are an increasing use  of  private  sector  practices  in  the management  of municipal  property;  a  shift  from public to private ownership of property and the exploitation of the latent  value within property. There are also broad trends in its implementation which  can be characterised as a    ‘top-down accountancy’ driven approach,  ‘bottomup practitioner  developed’  and  ‘externally  advocated’  by  donor  agencies.
Worley Ltd (2000) suggests that UK, Australia and New Zealand are typical of  the  top-down  approach;  USA  and  Canada  reflect  a  bottom-up  approach,  whereas  developing  countries  and  countries  in  transition,  such  as  Russia,  reflect  the  externally-advocated  approach.  The  conventional  wisdom  is  that
asset  management  is  more  advanced  in  ‘top-down’  countries  and  least  advanced in countries where it is ‘externally-advocated’.

       Commentators,  such  as  Ashworth  (2000)  and  Lyons  (2004),  observe  the  challenges  facing  local  government  requires  it  to  continuously  strive  for  improvement  in performance and  to  look  for new ways of delivering services.   The new  discipline  of  asset management  is now  considered  essential  to  this
search  for  service  improvement.  Lyons  (2004)  argues  that  public  service  is  evolving in response to rising public expectations; with an increasing focus on  improving efficiency. Whilst written as a commentary on  local government  in  the United Kingdom the same general trend can be identified more universally  and central to  this  reform agenda Lyons  (2004) suggests  is a need to ensure that assets are deployed to optimise their contribution.

       Sharplin  (2003)  argues  further  that  the  application  of  asset  management  concepts and methodologies  to  infrastructure  is vital  for nations  to maintain  and improve their international competitiveness. Local government property is  part of a nation’s infrastructure and as a resource of significant value and cost  it  is  therefore  important  that  it  is  contributing  to  this  well-being  at  both  a  community  and  national  level.  How  local  government  acquires,  uses  and  disposes of property can play a part in contributing to the overall effectiveness  of the wide range of services which local government provides. As Lyons (2004)  writes  ‘developing new and better ways of managing property will support  the  ethos  of  continuous  service  improvement  that  is  now  a  natural  focus  for  local  government’.

       Over the last decade there has been a range of guidance produced from central  government, consultants, academics and practitioners. These  form a growing  body  of  knowledge  on  what  constitutes  best  practice  for  asset management  which  can  be  used  by  those  within  local  government  to  benchmark  and  improve  their  own  practices.  However,  ‘best  practice’  alone  may  not  be  a  reliable gauge of effective asset management and unquestioning adherence to  such  guidance  may  not  always  be  an  appropriate  course  of  action.  Whilst  currently advocating the benefits of asset management the Audit Commission  (1988) previously recognised that the long term nature of property means it is  difficult  to  provide  convincing  proof  of  a  generally  applicable  ‘right  way’  of  managing  property  since  the  consequences  of  actions  may  not  become  apparent for many years.

       There is a growing interest in asset management internationally but despite a  growing volume of  literature and guidance  it Rose  (2004)  implies remains an  immature  activity with  its  focus  and  nature  still  evolving.  As Gibson  (1999)  states there  is  still ambiguity  in  its definition, purpose and  scope. There are  also  variations  in  its  development  across  the  globe  and  within  individual  countries.  A  primary  aim  of  this  research  has  been  to  contribute  to  this  growing debate about the nature of asset management.