Building A Road Map for Asset Management Through Benchmarking

Municipalities throughout North America recognize the need for strategic Asset Management Programs that drive a systematic and defensible decision making process to maximize the efficient use of financial and human resources required to maintain their asset base in a state of good repair.This paper has been prepared to document the steps that Toronto Water has employed on its path to developing an effective asset management program. As the development of Asset Management Programs in this regard can be considered relatively new in North America, a recently completed international process benchmarking exercise, led by International Water Association and Water Services Association of Australia has identified Best Practices throughout the multiple functions that make up the business process of Asset Management. This is intended to be used to guide municipalities as they develop their Road Map for successful implementation of Asset Management.