Asset management planning is a process that strategically manages infrastructure assets to ensure they provide services expected by the public, minimize risks, and keep costs low.
Traditionally, it has focused on “grey” or built assets like roads and sewage pipes, but now increasingly includes “green” assets such as green roofs, trees and forests, and watercourses too.
About Asset Management Planning in Ontario
In Ontario, O. Reg 588/17: Asset Management Planning for Municipal Infrastructure requires municipalities to develop an asset management plan for municipal infrastructure assets. According to the regulation, municipal infrastructure includes green infrastructure.
This offers an opportunity to prioritize both green and traditional grey infrastructure assets in decision making.
Asset Management Projects
MUNICIPAL PROJECTS
Toronto and Region Conservation Authority (TRCA) is involved in various projects to support municipalities in incorporating green infrastructure into their asset management plans.
We use replacement costs to estimate the value of natural assets, such as street trees and shrubs, forests, wetlands, meadows, and watercourses.
We also assess the risk of assets failing, develop metrics to determine if assets are providing the services expected or desired, and identify lifecycle management activities for these assets.
Our projects also involve considering climate change throughout the asset management planning process – for example, assessing the climate vulnerability of tree species.
Currently, TRCA is working with the Regional Municipality of York Region to prepare a comprehensive inventory and valuation of natural assets owned and managed by the Region to support green infrastructure asset management planning.
APPLIED RESEARCH
Applied research plays a crucial role in developing concepts and methods for incorporating green infrastructure into asset management plans.
For example, TRCA has collaborated with the Green Infrastructure Ontario Coalition (GIO), the Southwest Environment Finance Centre (SW EFC), and select Green Infrastructure Leadership Exchange members, including City of Toronto and City of Vancouver, on an applied research project to develop a Green Stormwater Infrastructure Asset Management Planning Toolkit, which identified emerging best practices for including green infrastructure into asset management.
Select the thumbnail image below to download a copy of the toolkit.
As part of this project, TRCA supported partner municipalities in incorporating one or more stormwater green infrastructure assets into various stages of their asset management plans.
Through these case studies, TRCA beta tested the SW EFC Grey and Green Asset Management Framework, which supported further refinement of the Framework by SW EFC.
TRCA continues to advance approaches and methods for valuing natural assets and incorporating climate change risks and adaptation into all stages of asset management planning.
KNOWLEDGE TRANSFER
TRCA also engages in knowledge transfer by hosting training webinars and creating resource documents for municipal staff and stakeholders interested in green infrastructure asset management planning.
Natural Asset Management Valuation Guide: Forest and Tree Assets
Natural assets, such as street trees and forests, are now being included in asset management plans across Ontario and Canada.
These plans were originally developed for grey (built) infrastructure, such as roads, pipes, and buildings. Because natural assets are living systems, it can be challenging to fit them into the same valuation methods used for grey infrastructure.
To address this challenge, TRCA collaborated with Asset Management Ontario and Credit Valley Conservation, with support from the Greenbelt Foundation, to develop the Natural Asset Management Valuation Guide: Forest and Tree Assets.
The Guide provides municipal and conservation authority asset managers with key concepts and practical steps for the valuation of forests, hedges and patches, and individual street and park tree assets.
It also recommends methods to support a more consistent, reliable approach to valuing natural assets in Ontario.
Select the thumbnail image below to download a copy of the guide.
Natural Assets Checklist
The first step in natural asset management planning is identifying what assets a municipality or conservation authority owns and/or manages.
TRCA collaborated with the Greenbelt Foundation to create this visual checklist that shows different types of natural assets, with short, clear definitions and distinguishing features.
It includes notes explaining where human-built features may be included or excluded, helping communities apply it consistently.
Select the thumbnail image below to download a copy of the checklist.
Webinars
TRCA is working with other conservation authorities, the Greenbelt Foundation, and Asset Management Ontario to share knowledge and skills about green infrastructure asset management planning with municipal staff and other interested stakeholders by hosting regular training webinars.
Webinars offer participants the opportunity to learn about the stages of asset management planning, as well as practical tips and best practices for incorporating green infrastructure into asset management plans.
For example, watch the recording below for information on how to start natural asset management planning.
Watch Webinar: How to Start Natural Asset Management Planning
OTHER RESOURCES
TRCA is a member of the Conservation Authority Natural Asset Management Working Group, an active team of conservation authorities that are developing resources and leading events to build knowledge and capacity for green infrastructure and natural asset management planning.
The working group shares all resources that conservation authorities have created, contributed to, or recommend on the Conservation Ontario Natural Asset Management Planning webpage.
Contact
TRCA Watershed Planning and Ecosystem Science: wpes@trca.ca