Author : Michael Wright, GHD
Description : This presentation outlines the challenges, key results and lessons learned in developing and executing an effective Asset Management Program and how Value Engineering and Risk are integrated into Asset Management. A function diagram of the asset management plan development is shown. This includes developing a risk framework to increase understanding of critical assets and how they support service levels, and the long-term funding requirements for sustaining service delivery. The development of an asset management plan (AM Plan) provides a structure to understand the function and value of a municipality’s diverse services and departments. The development of an AM Plan provides the impetus to move from understanding municipal service functions to applying asset management principles, obtaining feedback, and continuously improving toward the goal of providing reliable services, at the lowest lifecycle cost.