Asset management planning is the process of making the best possible decisions regarding the building, operating, maintaining, renewing, replacing and disposing of infrastructure assets. Infrastructure assets include items such as bridges, vehicles, equipment, roads, sewer and water pipes and buildings.
The objective of Asset Management Planning is to maximize benefits, manage risk, and provide satisfactory levels of service to the public in a sustainable manner. Asset management requires a thorough understanding of the characteristics and condition of infrastructure assets, as well as the service levels expected from them. It also involves setting strategic priorities to optimize decision-making about when and how to proceed with investments. Finally, it requires the development of a financial plan, which is the most critical step in putting the plan into action.
Current State of Asset Management Planning in Canada
Municipalities across Canada have not put aside enough money to repair and replace their infrastructure. In the past municipalities relied on the Federal or Provincial governments to pay for a significant portion of their infrastructure; however, they no longer have enough funds to pay for all of the replacements and now expect municipalities to pay the majority of the costs.
Municipalities have typically only prepared a one year budget that did not take into account long-term implications. The difference between the future replacement cost and how much money municipalities have now to pay for the replacements is referred to as the “Municipal Infrastructure Deficit.”
How to Learn More?
You can learn more by watching the videos below or reading the reports on this page. Printed copies are available in Clearview Public library at the Stayner Branch. Alternative formats are available upon request. For more information on Asset Management Planning please contact the Clearview Treasurer, Kelly McDonald at firstname.lastname@example.org or by phone at (705) 428-6230 extension 225.