To express the commitment and intentions of The Corporation of the City of Brampton [the City] to plan, design, construct, acquire, operate, maintain, renew, replace and dispose of the City’s assets in a way that preserves sound stewardship of public resources while balancing levels of service and risk.
The City will implement a comprehensive Corporate Asset Management (CAM) Plan in alignment with the current strategic vision of ‘Moving Our City Forward.' This inclusive framework of shared principles aligns the foundation of the CAM Plan to emphasize and support optimized evidence-based decision-making.
Specifically, the following principles will form the foundation of the Corporate Asset Management Plan:
- Customer Focused
- Maintain clearly defined levels of service through adherence to optimized asset management processes and systems supported by real-time asset and customer data.
- Defendable Decision-Making
- Use a robust, formal and consistent process when evaluating competing business factors to ensure that a defensible outcome is achieved.
- Risk Management
- Achieve a strategic balance between established levels of service and the amount of acceptable risk in order to manage resources, expenditures, and priorities.
- Regulatory Driven
- Maintain compliance with all legislation, regulatory and statutory requirements as well as business established standards.
- Perpetually enhance and improve asset management methodology to recalibrate processes and embrace new tools, techniques and solutions.
- Whole Life Perspective
- Consider the full impact of managing an asset from acquisition to disposal; always considering the impact of interrelated influences.
- Incorporate social, financial, and environmental outcomes into asset decisions to adequately meet anticipate customer needs, regulatory requirements, and climate change obligations.
- Systems Based
- Evaluation of an asset in terms of its role and value within the context of the greater system, as opposed to examining an individual asset in isolation.
Asset management ensures the right balance of strategy, assets (physical and technological), people and business processes to deliver established levels of service through an optimized risk-based decision-making approach. The City is committed to manage this program in an organization-wide manner that preserves the whole lifecycle of an asset and will be achieved by ongoing capacity building (sufficient training and resourcing).