Presentation
Asset Management Strategy Presentation
January 9, 2024Pages 64–7812 sections
Presentation slides summarizing the Town's asset management journey, framework, and the findings of the maturity assessment.
January 9, 2024Maturity score of 1.8 out of 5High scoring categories include Budget & financial planningLow scoring categories include Strategy & roadmap and AM plans
Asset Management Strategy
Asset Management = (AM)
Presentation outline:
- Review of View Royal's AM journey and framework (staff)
- Presentation of the AM Strategy (consultant)
- Discussion and Questions
Page 64–78
View Royal's AM Journey
- 2012 - 2018: AM first identified in View Royal's corp. strat. plans
- 2019 - 2021: Focus set on long-term financial stability
- 2022: Sustainable Infrastructure Replacement Plan
- 2023: AM Strategy
- 2024-onwards:
- AM Policy
- 5-year AM Strategy Implementation Plan
- SIR Plan Recommendations
Page 64–78
View Royal's AM Framework
Asset Management for Sustainable Service Delivery – A BC Framework
Page 64–78
Core Elements
- Assets
- Information
- Finances
- People
Page 64–78
AM Process
- Assess
- Plan
- Implement
Assess
- Assess Asset Management Practices
- Assess Asset Current State of Assets
Plan
- AM Policy
- AM Strategy
- AM Plans
- Long-term Financial Plan
Implement
- Implement Asset Management Practices
- Measure and Report
Page 64–78
View Royal's AM Strategy
Page 64–78
What is an AM Strategy
- Puts AM Program into action
- Operationalizes AM Policy
- Establishes AM priorities for short term (5 years)
AM Strategy Framework
- All essential components per FCM’s Framework and IIMM framework
- Written in alignment with AMBC Framework
Conducted AM Maturity Assessments to refine and guide AM Strategy
Page 64–78
AM Maturity Assessment
1. What is an AM Maturity Assessment?
- Helps orgs compare current AM state with industry standards
- Helps org decide what AM activities to focus on
2. AM Maturity Assessment Framework
- Utilize the FCM Readiness Scale
- Translated into IIMM
3. How were Am Maturity Assessments conducted
- Interviews conducted with Gen Gov, Development, Parks, Transportation, and Protective Services
- Participants invited to complete survey
- Results tabulated and inputted into framework assessment
Page 64–78
FCM Readiness Scale Assessment Areas
- Policy and governance
- People and leadership
- Data and information
- Planning and decision-making
- Contribution to AM practice
Page 64–78
Maturity Assessment Notable Findings
- Readiness score:
- Overall score 1.8 out of 5 (not an uncommon)
- Highest scoring categories:
- Budget & financial planning
- External knowledge sharing
- Lowest scoring categories:
- Strategy & roadmap,
- Asset data,
- Documentation & standardization,
- AM plans,
- Training & development
Page 64–78
Asset Management Maturity Assessment Results
Page 64–78
Maturity Assessment Notable Findings Continued
- Levels of service:
- No formalized LOS
- Lifecycle costing: not formally integrated
- Data & Information:
- No formalized data collection requirements
- Organizational understanding, culture & approach:
- Strong buy-in for principles
- Varying levels of awareness
Page 64–78
Document Images
(3)
Circular diagram of the Asset Management for Sustainable Service Delivery framework showing the interconnected phases of Assess, Plan, and Implement revolving around core elements of Information, Assets, People, and Finances
Radar chart comparing Asset Management maturity across fifteen categories, showing Current Maturity, Target Maturity, and Forecasted Maturity for 2026
Extracted from: 2024 01 09 Committee of the Whole Agenda - Agenda - Pdf