In this fast-paced world, are you keeping up with your community’s expectations? As more city dwellers choose to move to a rural setting, they can sometimes bring with them higher levels of service expectations. Can you continue to afford delivering the level of services that your residents expect? OSPE has a course designed to help you understand this balancing act between risk and cost known as Asset Management.
Asset management is about providing your community with the right service at the optimal cost. A fundamental component of asset management is level of service, identifying the current level of service and current performance delivery as well as desired levels of service in the future. Delivering service is a balancing act, balancing level of service with risk and balancing level of service with cost.
What is a good level of service? It is the level of service that meets the needs of the community and the expectations of the public. What level of service is affordable? This is the challenge for municipalities, first to determine the cost of delivering the current service and through asset management to identify the required investments in the system to continue to provide service in the future.
OSPE’s Asset Management 201 course focuses on this balancing act and explores how levels of service are connected with risk and costs. The course also sheds some light on regulatory changes recently enacted through the Infrastructure for Jobs and Prosperity Act. The one-day course is designed to be interactive. In fact, about half of the course includes activities in small groups, exploring the concepts and discovering how to apply the principles of levels of service. Participants in the spring 2019 sessions commented on how valuable the working group activities are in organizing their thoughts on how to apply levels of service and risk to your own municipality. Highlights from participants included:
- “Working through an example case study helped to strengthen my knowledge”
- “Most relevant was learning how to calculate risk”
Consider attending with others from your municipality, as asset management is a team sport!