City streamlining its asset management program
NEWS RELEASE - Distributed October 6, 2021 9:00 AM
Summary
The City of Nanaimo is enhancing its asset management capabilities through implementation of a new software. The Corporate Asset Management System, or CAMS, is a software application which will map, track and manage the City's assets, and aid future decision making.
Nanaimo uses over $3 billion in infrastructure to deliver services to the community. The City manages and tracks its infrastructure through a process known as Asset Management. This includes roads, water and sewer pipes, facilities, buildings, parks and trails, and many other assets used by the community every day. CAMS will replace and unify multiple systems into one geographically based system, making tracking assets and related work more efficient, saving time and cost.
The new system, which has an overall budget of $2.8 million, is supported with a $2.2 million in funding from the Canada Community-Building Fund. The system is expected to be fully implemented in 2025.
To find more information on the City's Asset Management program, visit www.nanaimo.ca/goto/investment-plan.
Link to Strategic Plan: Creating efficiencies in managing the City's over $3 billion in assets contributes to a culture of excellence around governance, management and cost-effective service delivery.
Key Points
- The Corporate Asset Management System is a software application which will be used to manage assets across the city. It will make it easier to establish the ideal time to proactively maintain assets to get the longest lifespan out of them and determine when to replace them before they get too expensive to maintain.
- The CAMS project received $2.2 million in funding from the Canada Community-Building Fund, which is administered in B.C. by the Union of B.C. Municipalities. The total project budget is $2.8 million
- The project to implement a Corporate Asset Management System is underway and is expected to complete in 2025.
- The selection process for an asset management software vendor is underway.
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