Asset Management Planning

TAM completes a “desktop survey” of the building(s), examining relevant documentation describing the historical and current physical state, financial circumstances and other information pertaining to the property.  TAM meets with maintenance and management staff to glean overview information of any previous building defects, renovations, upgrades and current building related performance and functional deficiencies. A tour of the building(s) is conducted to further ascertain the general condition and to review specific issues identified during the desktop survey and interviews.  A diagnostic survey of any major problems and defects may be recommended to reduce the risk of uncovering hidden defects during the course of renovations.  TAM then completes a detailed Asset Management Plan which provides a comprehensive overview of the current physical status of the building and financial capacity of the owner, including a 30 year capital repair projection and prioritizes building related deficiency issues and future repair work in alignment with the priorities of the owner.

Project Management

TAM offers full project management services to housing groups to renovate their buildings and premises, including:

  • Preparing and submitting funding applications to lenders and co-ordinating with lenders to satisfy lending requirements
  • Developing a communications protocol to be used throughout the project
  • Assisting the owner to retain professional services and to develop scope and design documents suitable for the project
  • Coordinating and consulting with architects, engineers, lawyers and other professional advisors engaged by the owner
  • Assisting the owner to determine suitable procurement options for the construction works of the project
  • Developing the project schedule and budget for review and approval of the owner
  • Drafting and reviewing contract(s) with the owner and its professional advisors and coordinating for the execution of the contract(s)
  • Coordinating and consulting with the building contractor(s) during the preparation of the specifications and working drawings.
  • Coordinating and consulting the project team in applying for and securing the necessary permits
  • Assisting the owner in the administration of the contract including negotiations relating to construction items, including without limitation to change orders and deficiencies arising from the fulfillment of the contract
  • Attending regular site visits to monitor the progress of construction and to ensure building contractor’s adherence to schedule, budget and specifications
  • Coordinating and consulting with the building contractor to ensure that any drawings, specifications, photographs, warranty certificates, and operations manuals will be submitted to the owner at the completion of the project
  • During construction, coordinating a monthly site inspection and providing progress reports to the owner, including financial summary status and schedule in an electronic pdf format
  • Compiling and submitting monthly progress draws to the lender; maintaining the books for the project from start of construction to close-out, and coordinating the progress draw advances
  • Setting up and managing holdback accounts in accordance with the requirements of the Builder’s Lien Act
  • Assisting the owner in filing all required forms, returns and applications for GST registration
  • Reviewing the project insurance requirement with the owner’s insurance provider to secure their confirmation of adequate coverage
  • Ensuring that the one year warranty inspection is completed and that there is a clear agreed-upon plan of action for completion of any necessary work

What is Asset Management Planning?

Asset management is:

  • A program of activities
  • Designed to manage capital assets
  • To deliver a desired service level
  • At the lowest life cycle cost.

Asset management is a form of long-term planning used by organizations around the world, for both large infrastructure projects (like highway and municipal water treatment systems) and smaller-scale facilities (like hospitals, or non-profit housing operations). An asset management program is based on a written asset management plan (AMP) which is a foundation management tool. An AMP explicitly links a financial plan, the status of a housing owner’s physical assets and on-going operations and maintenance practices. It also permits a housing owner to monitor progress with comprehensive financial projections and performance benchmarks.