Asset Management Plan definition

Asset Management Plan means a strategic document that states how a group of assets are to be managed over a period of time. The plan describes the characteristics and condition of infrastructure assets, the levels of service expected from them, planned actions to ensure the assets are providing the expected level of service, and financing strategies to implement the planned actions. The plan may use any appropriate format, as long as it includes the information and analysis required to be in a plan as described in Ontario’s Building Together: Guide for Asset Management Plans.
Asset Management Plan means a plan created by the department and approved by the state transportation commission or a plan created by a local road agency and approved by the local road agency's governing body that includes provisions for asset inventory, performance goals, risk of failure analysis, anticipated revenues and expenses, performance outcomes, and coordination with other infrastructure owners.
Asset Management Plan means a systematic management technique for utility systems that focuses on the long-term life cycle of the assets and their sustained performance, rather than on short-term, day-to-day aspects of the assets. This plan includes the identification of and costs for rehabilitating, repairing, or replacing all assets as well as the schedule to do so. Subsection 62-552.700(7), F.A.C., provides details on the contents of the plan.

Examples of Asset Management Plan in a sentence

  • DES 1.1.6.3.1 TASK: Budget Maintain footpaths and cycleways as per the Roads Asset Management Plan with reference to the DIAP.Routine Maintenance $28,250.00DES 1.1.6.3.2 Review and update the Streetscape Upgrade Program.

  • Section VIII presents a cost of growth analysis, which considers an Asset Management Plan for the County, demonstrating the financial sustainability of assets over the life cycle of the 2022 Development Charges By-law and satisfying the requirements of the recent amendments to the DCA.

  • Asset Management Plan (AMP)• Rivers and Drainage AMP is the most extensive AMP held by Bay of Plenty Regional Council.

  • Kirsty Brown delivered a PowerPoint presentation providing an update on the three yearly review of the Rivers and Drainage Asset Management Plan and the Infrastructure Strategy (presentation attached).

  • The main purpose of the Asset Management Plan is to demonstrate that all assets proposed to be funded under the DC by-law are financially sustainable over their full life cycle.


More Definitions of Asset Management Plan

Asset Management Plan means the Council’s plan containing details relating to the Council’s Assets.
Asset Management Plan means a plan under which the water companies operate for a five year period;
Asset Management Plan means the asset management plan, including any amendment to it, approved under clause 53.
Asset Management Plan means the Distributor’s five year plan of capital expenditure, maintenance priorities and system development requirements in respect of the Distributor’s Equipment and the Distribution Network;