The major premise of comprehensive corporate asset management is that an organization will seldom have perfect processes and data with which to manage the asset portfolio. Instead, the underlying culture of continuous improvement and reliability is its key to success. These improvements will be part of the continuation of the Corporate Asset Management Program and the implementation of the CAM Roadmap moving forward, and the progress of the program is tracked through an asset program maturity assessment.
The figure below provides a snapshot of the progress and overall maturity of the City’s asset management data and program relative to 2016 when the City first launched its Corporate Asset Management Plan. It is important to note that the City has made significant progress in further developing various components of their Asset Management program since the completion of the 2016 Corporate Asset Management Plan. The level of advancement varies by different areas. Additionally, despite the progress made, further work is currently underway and planned to be undertaken over the next few years that will move the City towards the targeted “level 5” assessment in all categories.
As shown in figure below, the City’s overall confidence level rating is approximately three (3), which correlates to a medium (“competent”) State of Asset Management maturity on a scale where 0 relates to basic and 5 is indicative of advanced maturity and high performance. The scores are reflective of the quality and type of data available, current processes and asset management strategies.