Asset Management Defined
Municipal infrastructure is the foundation for a healthy and vibrant city. Many municipalities define assets to include all physical infrastructure that is necessary to support the social, economic and environmental services provided by the corporation. These asset types include, but are not solely limited to, tangible assets such as buildings, engineering structures, roads, parks, transit, IT networks, water and wastewater systems and intangible assets such as land, software, data and intellectual property.
What is Municipal Infrastructure Asset Management?
Municipal Infrastructure Asset Management (MIAM) means the practices, principles and theories in the management of municipal infrastructure assets. While the practice includes the professional areas of risk, finance, engineering, economics and information management, Asset Management practitioners are business strategists who consider themselves “generalists” in each of these specialties and not specialists in any single one.