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Corporate Finance

Asset Management Program

The City’s Asset Management Program oversees the development of corporate standards and the implementation of leading asset management practices and programs in investment planning and project management. In addition, it oversees the development of templates, the asset management administrative standards, the Investment Planning Manual, and the Project Management Manual.

Documents for City Asset Management Program

What is Asset Management

The City has a multitude of competing spending priorities and limited resources. As the City continues to grow, the need to make sustainable decisions is essential to ensure that the best actions are taken regarding the use of City assets, like roads, bridges, sewers, facilities, etc. To that end, the City has embraced asset management as a core business function.

Asset management provides information about the City’s infrastructure as a whole, including the state of existing assets, the assignment of value to improvements to existing assets, and the assessment and assignment of value to future assets considered for investment.

Through the asset management program, the City can:

  • Establish and implement best practices;
  • Prioritize projects based on measurable city-wide benefit criteria;
  • Improve the knowledge of existing assets;
  • Collect data and apply it to drive decision-making;
  • Lower overall cost of asset ownership; and,
  • Make timely investments in key infrastructure to minimize the lifecycle cost of the asset.

In short, the asset management program helps the City to effectively invest limited resources into long-term capital plans by balancing risk, cost, and customer levels of service to ensure our assets are efficiently and properly managed. It allows the City to make the right investment, at the right time, the right way.

Asset Management Governance

In 2016, the Chief Asset & Project Management Officer position was created to co-ordinate and facilitate the review of work by civic departments, consultants, contractors, internal technical, clerical, financial, and department leads, involved in all City capital projects completed on behalf of the City.

Departmental Asset Management Offices (AMOs) report directly to their Director and in-directly to the Chief Asset & Project Management Officer to ensure greater oversight and standardization of infrastructure investment projects throughout the City. By focusing our efforts on our investments as a whole rather than a series of components, we can make better strategic decisions as a cohesive team using consistent criteria.

The overall governance structure is depicted below:

governance structure

Asset Management Training Program

The asset managementis training program consists of an Investment planning training program and a project management training program.

The goals of these training programs are:

  • "Investment Planning - Making the Right Investment"
  • "Project Delivery - Deliver the Investment the Right Way"
  • "Focusing on Customer Service Outcomes - Cost to deliver defined Asset Performance Targets"

Q&A

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What is an asset?

In the City, assets are road networks, sewers, bridges, culverts, facilities like libraries, fleet, equipment, and items that add value to the organization like computer systems.

What is asset management?

Asset management is not a singular activity or project; rather, it is an integrated business approach with the aim to minimize the lifecycle costs of owning, operating, and maintaining assets, at an acceptable level of risk, while continuously delivering established levels of service to the residents of Winnipeg. It includes the planning, design, construction, operation, and maintenance of infrastructure used to provide City services. By implementing asset management processes, infrastructure needs can be prioritized, while ensuring timely investments to minimize repair and rehabilitation costs, in order to maintain City assets.

Using best practices in asset management across the City ensures decisions are based on a robust, defendable, and transparent process, based on strategic priorities.

In short, it allows the City to make the right investment, at the right time, the right way.

What are the objectives of Asset Management?
  • Inventory - capture all asset types, inventories and historical data
  • Current Valuation - assess current condition ratings on assets and their replacement values
  • Life Cycle Analysis - identify maintenance, renewal strategies and life cycle costs
  • Level of Service - define measurable Levels of Service targets
  • Risk and Prioritization - assess risk and prioritize accordingly
  • Sustainable Financing - identify the optimal financing strategy
  • Decision Making and Transparency - attained through regular monitoring and reporting
What does the Asset Management Program consist of?
Level of Service

Asset Management Program consists of a number of elements:

  1. Strategy – Set the vision, mission, framework and road map
  2. Assets – Minimize total cost of ownership, maximize reliability and meet performance standards
  3. People – Makes the right choices in organization design and people resources
  4. Process – Design and implement streamlined and effective processes and procedures
  5. Technology – improve productivity, decision-making, and mange asset knowledge

... to achieve level of service targets at an acceptable level of risk.

What is the goal of the City’s asset management program?

The City’s asset management program guides the consistent application of standards, practices, and tools to support effective service delivery through the sustainable management of public infrastructure. Goals that can be achieved by implementing an asset management program are improving efficiency, performance and utilization, facilitating data collection and maximizing return on investment while identifying and reducing waste.

The program is meant to align investments with infrastructure priorities to deliver established levels of service in a fiscally responsible manner.

Why is an asset management program so important for the City?

City has a multitude of competing spending priorities and limited resources. As the City continues to grow, the need to make sustainable decisions is essential to ensure that the best actions are taken regarding the use of City assets, like roads, bridges, sewers, facilities, etc. To that end, the City has embraced asset management as a core business function.

The asset management program helps the City to effectively invest limited resources into long-term capital plans by balancing risk, cost, and customer levels of service to ensure our assets are efficiently and properly managed. It allows the City to make the right investment, at the right time, the right way.

Through the asset management program, the City can:

  • Establish and implement best practices;
  • Prioritize projects based on measurable city-wide benefit criteria;
  • Improve the knowledge of existing assets;
  • Collect data and apply it to drive decision-making;
  • Lower overall cost of asset ownership; and,
  • Make timely investments in key infrastructure to minimize the lifecycle cost of the asset.
Last update: October 17, 2017