The Canadian Network of Asset Managers (CNAM) has awarded a Tereo award to the City of Waterloo, Ontario for its excellence in asset management.

The City of Waterloo was recognized for a new and complimentary cross-asset management tool that is helping it be more efficient when identifying assets requiring renewal activities. Using the tool, timing for rehabilitation can be optimized while maintaining a high level of service with minimal disruptions to the community. This is because the tool enables prioritization based on spatial proximity and renewal requirements.

The new cross-asset tool captures asset performance information for roads, sanitary sewer, water distribution, and the storm sewer collection networks. The tool integrates asset performance information across various assets that are relative to one another (such as roads and the underground infrastructure), which is used to optimize the timing and rehabilitation methods.

“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 of Waterloo’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.”

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