Asset Management
What is Asset Management?
Asset management is a comprehensive planning process that focuses on ensuring the delivery of services, such as snow removal, transit, and clean drinking water, in a way that balances community expectations with financial sustainability and risk management.
These services are delivered by infrastructure assets like snowplows, roads, buses, and water mains, which require ongoing investment in repairs and replacements.
Effective asset management consists of minimizing the total costs of asset ownership within an environment of limited resources, while also delivering service levels to the community at an acceptable level of risk. In practicing effective asset management, it is important to understand:
- What assets the Municipality owns (including condition, replacement cost, and useful life)
- What services municipal assets currently deliver
- Whether the service municipal assets currently deliver meets the expectations of the community
- What services municipal assets should be delivering, while considering the balance between community expectations, acceptable levels of risk, and the costs of service delivery
2021 Asset Management Plan for the Municipality of Powassan
2016 Asset Management Policy for the Municipality of Powassan
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