Asset Management Primer: Canadian Infrastructure Report Card
The CIRC Asset Management Primer tool, created in advance of the 2015 Canadian Infrastructure Report Card, will help you understand the benefits of asset management and associated best practices, provide a common language for reporting, and tools to assist with asset management planning.
Asset management is the coordinated activities of an organization to realize value from its assets in the achievement of its organizational objectives. From a practical perspective, asset management is based on a set of 4 key fundamentals:
- Value: Assets exist to provide value to the organization and its stakeholders.
- Alignment: Asset management aligns the organizational objectives with technical and financial decisions, plans, and activities.
- Leadership: Leadership and workplace culture are crucial to realize value.
- Assurance: Asset management gives assurance that assets will fulfill their required purpose
The inaugural Canadian Infrastructure Report Card (CIRC), released in 2012, was the first objective assessment of Canada’s municipally owned water, wastewater, stormwater, and road infrastructure and also examined the state of infrastructure asset management across Canada.