PIR will support the development of asset management and information systems addressing inventory, state of repair and future investment requirements with respect to Ontario's infrastructure; and promote asset management best practices in the broader public sector and publicly owned infrastructure (e.g., municipalities, hospitals and universities).
Beginning with the government's own assets, PIR will work with the Ontario Realty Corporation and infrastructure ministries to develop asset management and information systems addressing asset inventory, state of good repair, life-cycle costing and future investments. Accountability frameworks will be implemented to ensure ongoing asset management for government assets to achieve a state of good repair.
Appropriate approaches to infrastructure financing and procurement combined with sound asset management strategies are critical to allowing the government to make long-term strategic choices with respect to infrastructure investments in Ontario.
The government's comprehensive asset management strategy will:
• support both the development of provincial infrastructure strategies and programs;
• promote ongoing asset inventory, state-of-good-repair assessments and depreciation as standard practice in municipalities and capital-intensive sectors; and
• develop a sound database with distributed information and management accountabilities across infrastructure ministries.
A major component of the asset management strategy will be the ability to develop indices including:
• asset inventory age, condition, value and expected useful life;
• life-cycle costing;
• state of good repair;
• measures of hospital treatment capacity; and
• measures of reduced traffic congestion.
PIR will work with other ministries, municipalities and broader public-sector partners to:
• develop an inventory of capital infrastructure in the province;
• determine the valuation and replacement value of assets;
• determine the ongoing maintenance needs-both present and future; and
• determine the ongoing updating of capital stock and investment.