Comment
Ontario's infrastructure planning would benefit from a specific requirement that Municipalities and other provincial organizations adapt Asset Management practices as described in International Standard ISO 55001 and its companion standards ISO 55000 and 55002. This would introduce a requirement for risk based decision making with an aim to maximize the "value" of our infrastructure assets to satisfy all stakeholder requirements. At present the legislation lacks any reference to a standard and fails to define good Asset Management practices. Whilst compliance to ISO 55001 can be certified by independent audit, it is intended as a voluntary standard. I would also recommend consideration be given to providing a deadline by which all provincially funded organizations managing physical assets with value over some reasonable minimum level (say $50 million) be required to be independently certified against the requirements of ISO 55001.
[Original Comment ID: 211494]
Submitted February 13, 2018 12:41 PM
Comment on
Building better lives: Ontario’s long-term infrastructure plan 2017
ERO number
013-1907
Comment ID
2233
Commenting on behalf of
Comment status