Asset Management Program

Council's Strategic Priority - An Asset Management Program

The following graphic (located here) outlines the various asset management related activities that have taken place since the Council directed in 2015 that staff establish an asset management program.  The graphic shows the timelines and key milestones in the asset management planning process, culminating in the endorsed policy and strategy that are at the core of the District's endorsed program.

Asset Management Policy

The District's Asset Management Policy captures Council’s direction to staff regarding asset management practices and infrastructure renewal.  The policy describes the District's approach to asset management, including the Asset Management BC definition of what asset management is and the District’s direction to adopt some of their best practices.  The Asset Management BC Framework describes an asset management policy as a document that “… formalizes corporate commitment to asset management…” in a way that “…broadly outlines the principles and guides the development and implementation of asset management across the organization in a systematic and coordinated way.”  Developing an asset management policy was flagged as a high priority task (categorized under People: Governance, Leadership & Staff) in the 2016 Opus International Consultants report on the District’s asset management practices.

Asset Management Strategy

The District’s asset management activities have been focussed on developing an “asset management plan” to address infrastructure and facilities challenges.  It has become clear that the best way to manage assets in the District is to consider the ongoing and the planned activities as a program of projects, all aiming to achieve the end goals of sustainable service delivery through operationalized asset management practices. There are multiple projects, some of which are already underway or completed, that fall under the umbrella of asset management.  In this context, a program is defined as a group of related projects managed in a coordinated way to gain a benefit that might not be realized by managing the projects individually. Oak Bay's Asset Management Strategy serves as the program charter for the Asset Management Program. The strategy document clarifies the strategic intent, clarifies what the deliverables actually are and the activities/resources required to deliver them, and also serves to manage the expectations of staff, Council and the community. 

Questions related to asset management in Oak Bay can be directed to Dan Horan, Director of Engineering Services, at dhoran@oakbay.ca or 250-598-3311.