Asset Management Initiative: Asset Register, Prioritization and Strategy
Type of initiative
Municipal Asset Management Program - MAMP
Sector
Asset Management (MAMP)
Project value$57,050
Project Type
MAMP Projects
Sub Sector
Asset Management Plans, Policy and Strategy
Grant amount$50,000
Program type
MAMP
Municipality
Town of King's Point, NL
Status
Fully Disbursed
Population
653
Project timeline
2022 - 2023
Project number
18311
Description
The Town of Kings Point plans to implement a three phase Asset Management initiative. Phase 1includes the development of an Asset Register for fixed infrastructure assets utilizing a geographicalinformation system (GIS) and associated database. The Asset Register will include the Town's waterdistribution, wastewater collection and storm water network as well as roads, trails, buildings, facilities andfleet. Phase 2 includes prioritizing the Asset Register in terms of consequence of failure and probability offailure to determine each asset’s risk level. This will allow the Town to focus on highest risk assets firstwhen planning capital projects. Phase 3 includes the development of a Capital Plan and AssetManagement Policy document and will end with a workshop for both Council and staff. Throughout theproject, multiple workshops will be held with Town staff, providing an opportunity to learn the basics ofAsset Management concepts as well as the development of an Asset Management Policy which willprovide continuity and direction for the ongoing implementation of Asset Management in the future.
Applicant
Town of King's Point, NL