City wins national award for excellence in asset management

The City of Waterloo has received a Tereo award from the Canadian Network of Asset Managers (CNAM) for excellence in asset management. The city was recognized for a new and complimentary cross-asset management tool that is helping the city be more efficient when identifying assets requiring renewal activities by optimizing timing while maintaining a high level of service with minimal disruptions to the community.

The new cross-asset tool helps by integrating asset performance information across various assets that are relative to one another (such as roads and the underground infrastructure) providing an opportunity to optimize the timing and rehabilitation methods. The tool integrates asset performance information for roads, sanitary sewer, water distribution and the storm sewer collection networks and enables prioritization based on spatial proximity and renewal requirements.

“Our residents want to know that whenever we spend our limited infrastructure dollars that we’re doing it wisely, “ said Councillor Jeff Henry, chair of the city’s finance and strategic planning committee. “While underground infrastructure is out of sight, it is top of mind whenever we dig up our roadways. Waterloo’s new cross-asset tool allows us to optimize the replacement of roads and underground infrastructure, saving money and limiting disruptions to the community.”

About the Tereo award

The CNAM Tereo award recognizes excellence in developing and implementing asset management approaches and significant improvements in business performance through the use of asset management tools and techniques or approaches. Tereo is Greek for “to watch over” or “to attend to carefully”.  

Media contact:
Janice Works
Communications manager
519-747-8731
janice.works@waterloo.ca