Strategies
Asset Management Plan
The City of Hamilton delivers many important services to residents that are dependent on infrastructure such as transit, roads, bridges, city facilities and clean water and wastewater treatment. How the City's infrastructure (our assets) is managed throughout its life becomes a critical foundation in our ability to offer great services to our residents.
Good asset management planning allows municipalities to stretch capital dollars by helping them make well-informed, evidence-based decisions. It's about making the right infrastructure investments in the right places, at the right time to meet required levels of service in the most cost-effective manner, through the management of assets for present and future customers.
The benefits of having good asset management practices in place include enhanced customer service, improved financial efficiency, allowing for more effective management of risk, driving accountability and effective and sustainable decisions being made on behalf of residents.
In compliance with Ontario Regulation 588/17: Asset Management Planning for Municipal Infrastructure, under the Infrastructure for Jobs & Prosperity Act, the City has taken a number of steps to advance asset management in Hamilton.
Asset Management Plans will be completed and regularly updated by asset category to reflect:
- Current levels of service from both our customer's perspective and operational requirements
- Current asset performance
- Lifecycle activities and associated costs needed to maintain levels of service
- Proposed future levels of service and asset performance (by 2025)
- Lifecycle management plan and financial strategy (by 2025)
- An analysis of risk and associated mitigation strategies
- The impact of changing demand e.g. growth, climate impacts etc.)
- Activities the City needs to undertake to improve our asset management practices
Corporate Asset Management Plan Overview
The Corporate Asset Management (AM) Plan is the first iteration completed by the Corporate Asset Management (CAM) office in partnership with over 50 asset owners and key stakeholders across the City. The intent of these first plans is to meet Ontario Regulation 588/17: Asset Management Planning for Municipal Infrastructure (O. Reg. 588/17) requirements including establishing the current levels of service, and setting a benchmark for the City’s core assets (water, wastewater, stormwater, roads and engineered structures) in order to identify continuous improvement items for the next iteration of the AM Plans.
Asset Management Plans & Report Cards
Plans for other asset categories will be added as completed
Timeline
- 2019 - Public Works Committee: Strategic Asset Management Policy (PW19053)
- July 2022 - Information Report (PW22037)
- July 2022 - Asset Management Plan (PW22048)
- July 2024 - Asset Management Plan: Non-Core Assets
- July 2025 - Proposed LOS and Financial Strategy Completed
Date modified
August 16, 2022