The objective of the City’s Asset Management Program is to implement asset management leading practices for managing physical infrastructure over the course of its full lifecycle. The ultimate goal of asset management is to optimize reinvestment in the lifecycle of the City’s extensive portfolio of physical infrastructure by delivering levels of service to constituents and ratepayers while balancing the tradeoffs between cost of service and risks associated with asset failure. Led by the Department of Infrastructure and Asset Management (IAM), the City began to formalize the asset management program in 2021, beginning with the creation of an Asset Management Program Implementation Roadmap and other asset management planning documents. The next step in the City’s asset management journey is to procure and implement CMMS/EAM software
