Asset Management
All Niagara Region projects

About the Project

Niagara Region is an asset-intensive organization, overseeing more than $7.4 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:

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

February 2017 - Completed
Regional Council approved the Asset Management Strategy, including an Asset Management Roadmap and Information Technology Strategy

March 2017 - Completed
Regional Council approved the 2016 Asset Management Plan

January 2018 - Completed
Ontario Regulation 588/17: Asset Management Planning for Municipal Infrastructure comes into effect, outlining required asset management milestones and timelines to be achieved

february 2019 - Completed
Regional Council approved an asset management governance model and creation of a Corporate Asset Management Office

May 2019 - completed
Strategic Asset Management Policy approved by Regional Council and published (O. Reg. 588/17 milestone)

July 2019 - In progress
Establish Corporate Asset Management Office

July 2021
Develop enhanced asset management plan for core infrastructure assets

July 2023
Develop enhanced asset management plan for all infrastructure assets

July 2024
Expand asset management plans to include proposed level of service and a sustainable long-term financing strategy to achieve those levels and maintain infrastructure in a state of good repair

 

Contact

Mike Breadner
Project Manager
905-980-6000 ext. 3130
Email Mike Breadner

Reports and Documents

Page Feedback Did you find what you were looking for today?