Effective Asset Management in Utilities

With approaching regulatory Asset Management deadlines (O.Reg.588/17), municipalities are updating asset management plans (AMPs), but may be missing opportunities to strengthen the ties between asset management, corporate/department objectives and services provided to the community. It is easy to jump into the analysis, details and data-gathering of water and wastewater assets, but be sure not to miss this opportunity to get back to basics. Through your AMP, embedding Council and corporate strategic plans and connecting to service delivery goals can focus on the fundamental principle that assets underpin services to the community, a concept that is often overlooked.
A more effective AMP provides municipal stakeholders and citizens with insight into the analysis of trends and driving forces impacting assets, and the decisions made to manage them. This "service centric" big picture connects into well-established capital and operational planning and budgeting processes that provide a micro "asset centric" analysis that weighs asset decision on a program or case-by-case basis. This discussion will touch on these concepts, including our AMP framework to support this elevated practice.