Asset Management plans helps reduce risks so you can provide reliable and affordable services and a high quality of life to your residents. Strategic, risk-based municipal asset management practices are important which is why we strive to maintain the highest level of integrity, professionalism and accountability.
1. Assess Asset Management Practices
Determine organizational capacity to undertake asset management as an ongoing corporate function. This includes a high level assessment of all the core elements: people, information, assets, and finances. The assessment results serve as a foundation for developing and implementing the Process.
2. Assess the Current State of Assets
Assessing the current state of assets includes; knowing the inventory, asset conditions, both defined customer and technical levels of service and risks within each asset group. This assessment is the foundation for the development of Asset Management Plans.
3. Asset Management Plan
Long-term plans that outline the assets, asset conditions, levels of service, asset and service risks, activities and programs for each service area and resources required to provide a defined level of service in the most cost effective way.
4. Asset Management Strategy
The high-level, long-term approach to asset management, including Asset Management Plans and objectives for managing assets.
4. Asset Management Strategy
The high-level, long-term approach to asset management, including Asset Management Plans and objectives for managing assets.
5. Integrate to Long-term Financial Plan
Asset Management Plans are integral to a robust Long-Term Financial Plan and support Sustainable Service Delivery. This integration identifies gaps between long-term costs and available funding. The financial planning process identifies opportunities to close the gap through adjusting service levels (reducing costs) and/or increasing funding (raising revenue).
6. Measure and Report
Annual and financial reports include asset management objectives and outcomes identified in an Asset Management Strategy and Asset Management Plans. Reporting demonstrates measurable progress in implementing the Process and achieving outcomes that contribute to Sustainable Service Delivery.
6. Measure and Report
Annual and financial reports include asset management objectives and outcomes identified in an Asset Management Strategy and Asset Management Plans. Reporting demonstrates measurable progress in implementing the Process and achieving outcomes that contribute to Sustainable Service Delivery.
