ASSET MANAGEMENT FOR SUSTAINABLE SERVICE DELIVERY: “Often, we pay most attention to the upfront costs and forget that those costs are only a fraction of the money that needs to be spent on an asset over its lifetime,” wrote Kristy Bobbie, Asset Manager with the City of Prince George (Winter 2023 issue of Asset Management BC Newsletter)
Note to Reader:
The Winter 2023 edition of the Asset Management BC Newsletter includes an article by Kristy Bobbie of the City of Prince George wherein she provides her perspective on what to say to a new Council about asset management for sustainable service delivery. Her article is one of a set of 9 articles representing different perspectives. The theme for the Winter 2023 edition is Asset Management for Sustainable Service Delivery: Why Should Council Care?
Perspective from an Asset Manager
“It is the ongoing, whole life cost, of an asset that is the eye opener. Often, we pay most attention to the upfront costs and forget that those costs are only a fraction of the money that needs to be spent on an asset over its lifetime,” wrote Kristy Bobbie.
“Asking staff to provide you with a full life cycle cost analysis is the key to ensuring decisions about new assets are made with all the facts in mind. Existing and future generation taxpayers are depending on you, as today’s Council, to make the right decisions for the community and to spend our limited financial resources wisely. This includes knowing what existing assets need to be replaced and when or when not to move forward on a big shiny project.”
TO LEARN MORE:
To read the complete article, download the Winter 2023 issue of the Asset Management BC Newsletter.