The purpose of an Asset Management Plan (AMP) is to better manage city facilities and equipment by defining a community’s individual infrastructure needs and developing meaningful, intelligent strategies to meet them. This information shapes the annual budgeting process by defining current needs and anticipating repairs, acquisitions, and improvements the will be necessary incoming years.
The Public Sector Digest Methodology
An intelligent AMP will fulfill at least two purposes. First, it will use available infrastructure data to develop financial strategies through the lifecycle of community infrastructure. Second, the AMP will allow public works personnel to make data-backed decisions to optimize available funding. This way, important assets continue to function at their established levels of service without significant interruptions.