The Asset Management Plan guides the infrastructure strategy in the Township of Lake of Bays.

Overview

Asset Management is the process of determining how to best build, operate, maintain, renew, replace and dispose of infrastructure assets. An Asset Management Plan (AMP) is developed for the management of one or more infrastructure assets within the municipality that combines multi-disciplinary management practices, including both technical and financial practices, over the lifecycle of the asset(s) to a specified level of service in the most cost-effective manner. The intent of an AMP is to maximize benefits and reduce risks, while providing a satisfactory level of service to the community in a sustainable manner.

An AMP also incorporates the existing preventative maintenance and risk management programs to preclude risk of failure. The preventative maintenance component addresses the day-to-day wear and tear on the asset to ensure that it can reach its expected lifecycle. The risk management component ensures that risk is managed through due diligence.

The AMP was updated on October 20, 2020.

Process

In general the Asset Management Process defines:

• What we own – Inventory
• What it is worth – Valuation
• Where it is – Geographical Information System
• How we operate – Service Level
• What its condition is – Risk of Failure/Consequence of Failure
• What we need to do – Construct, Maintain or Replace
• How much it will cost and how it will be funded – Financial Plan

Documents

• Asset Management Plan 2020 Update
• Asset Management Plan 2018 Update
• Strategic Asset Management Policy