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Policy No:Click here to enter text. <br />POLICY <br />Approval Date:Click here to enter a <br />Policy Title:CORPORATE ASSET <br />date. <br />MANAGEMENT POLICY <br />Reviewed Date:Click here to enter text. <br />Policy Type:ADMINISTRATIVE <br />Next Review Date:Click here to enter <br />Category:Governance <br />text. <br />Reviewed Date:Click here toenter text. <br />Sub-Category:Corporate <br />Last Amended:January 16, 2012 <br />Author:Director, Asset Management <br />Replaces:GOV-COR-506 <br />Dept/Div:Infrastructure Services, Asset <br />Management <br />Repealed:Click here to enter a date. <br />Replacedby:Click here to enter text. <br />Related Policies, Procedures and/or Guidelines: <br />INS-13-100 Corporate Asset Management Program Update <br />Corporate Asset Management Strategy Update <br />INS-17-036 Asset Management and Water Infrastructure Program <br />INS-17-049 Climate and Asset Management Network Funding Opportunity <br />1.POLICY PURPOSE: <br />Program including roles and responsibilities related to Asset Management and <br />the linkages to the Corporate Climate Action Plan. <br />2.DEFINITIONS: <br />Asset Management is a combination of management, financial, economic, <br />engineering, and other practices applied to physical assets with the objective of <br />providing the required level of service in the most cost-effective manner at an <br />acceptable level of risk. It involves data-driven decision-making and actions <br />throughout the lifecycle of physical assets. <br />Corporate Asset Management the application of asset management <br />practices on a corporate level to maximize consistency among the diverse asset <br />categories, a financial planning framework, and create linkages to other <br />resiliency frameworks including climate adaptation and mitigation strategies. <br />1 of 9 <br />7 - 3 <br />