Asset Management
All Niagara Region projects

About the project

Niagara Region is an asset-intensive organization, overseeing more than $9.8 billion in assets (replacement value). Asset management is crucial to maximize performance, fulfill strategic goals and ensure efficient allocation of resources.

We've begun a phased, multi-year Asset Management Program that includes a corporate Asset Management Office. The program will:

• Develop policies and practices to improve service delivery across the corporation
• Deliver on Council's strategic priorities
• Implement provincial policies and acts, as amended, including:
• Ontario Regulation 588/17: Asset Management Planning for Municipal Infrastructure
• Development Charges Act (1997)
• Clean Water and Wastewater Fund
• Canada Community-Building Fund
• Make asset management part of the Region’s business resulting in savings related to capital asset budgeting and on-going maintenance costs
• Create a long-range financial plan to maintain existing and new infrastructure
• Implement decision-making based on corporate wide risk to ensure that approved projects deliver the best return
• Better identify other lifecycle activities

Goals

Asset Management aims to establish a balance between the provided level of service, the cost to provide that service, and the risks inherent with the services being provided. To achieve this, we must consider all assets across all lines of business so that we're:

• Doing the right work
• On the right assets
• At the right time
• At the right cost
• For the right reasons

Project timeline