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.
- 2019 - 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
- Strategic Asset Management Policy - affirms the City's approach to infrastructure asset management through clearly defined commitments and principles for decision making and aims to align and integrate asset management into strategic planning processes as prescribed by legislation.
Asset Management Plans
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
Guide To Asset Management Plans - the purpose of this Guide is to provide a general overview of the requirements and steps involved in the development of an Asset Management Plan. It is intended to help the reader understand the inputs, outputs and challenges at a high level in the practice of asset management planning.
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