In the public sector, Asset Management is often viewed as something that only large cities with big budgets and dedicated departments can effectively implement. Small communities, however, have just as much need for Asset Management and many are actively using its principles and seeing benefits. The challenge is breaking through the myths and misconceptions that keep smaller municipalities from adopting these key strategies.
Asset Management is not just about maintaining roads, water pipes, and buildings—it’s a strategic approach to maximizing the value and longevity of municipal assets. It helps local governments allocate resources wisely, plan for the future, and ensure that public services continue to be delivered effectively and efficiently. Let’s debunk some of the common myths surrounding Asset Management in small communities.
Myth #1: “Asset Management is Too Expensive for Small Communities”
One of the most common misconceptions is that Asset Management programs require large financial investments and complex systems, which are typically seen as out of reach for smaller municipalities with limited budgets.
Truth: Asset Management can be affordable, especially with a phased approach. Many Asset Management policies, strategies, and systems are scalable, meaning small communities can start with basic tools and gradually expand them over time. Cloud-based software options like Citywide Assets make it more affordable, with options that fit various budget sizes. Additionally, there are often grants and funding opportunities available for municipalities to help implement these systems.
Myth #2: “We Don’t Have the Resources to Implement Asset Management”
Small communities often feel that they don’t have the staffing or expertise to manage a comprehensive Asset Management program. In fact, our recent 2024 Asset Management Trends Study indicated that this was the biggest barrier to adopting Asset Management in North America. The thought of developing systems, tracking assets, and making data-driven decisions can be daunting for local governments with limited resources.
Truth: Asset Management is about creating a system tailored to your community’s needs, not about implementing a one-size-fits-all approach. Many Asset Management platforms are user-friendly and designed with smaller communities in mind. Furthermore, municipalities can leverage external advisors or take advantage of online training programs to build the necessary skills without needing a full-time expert on staff. It’s also worth noting that some technologies, like PSD Citywide’s Enterprise Asset Management suite, come with built-in support and tutorials, helping reduce the learning curve.
Myth #3: “Asset Management Is Only About Preventive Maintenance”
It’s easy to assume that Asset Management programs are only about keeping things from breaking down. While preventive maintenance is indeed an important part of managing assets, it’s just one piece of the puzzle.
Truth: Asset Management is a comprehensive approach that includes more than just maintenance. It’s about making data-driven decisions to prioritize investments, extend asset lifecycles, and improve budgeting and planning. It also involves understanding the condition of assets, forecasting future needs, and identifying risks that might affect service delivery. For small communities, this broader approach helps in maximizing the value of existing assets and planning for population growth and infrastructure improvements. More importantly, it helps to prioritize funds on what is most critical and will add longevity to your assets, something that is critical for communities with limited budgets.
Myth #4: “Our Assets Are Simple, We Don’t Need a System”
Some small communities believe that their infrastructure is too basic to require sophisticated Asset Management. They may think their assets—such as roads, water systems, or parks—are simple enough to manage without complex tools.
Truth: Even in small communities, assets are not as simple as they may appear at first glance. Over time, the complexity of managing assets—such as determining when they need repair or replacement, tracking their depreciation or complying with government regulations—can become overwhelming without a system in place. An Asset Management system helps municipalities keep track of asset conditions, plan for replacements, and prioritize projects based on needs. This proactive approach saves money and prevents costly emergency repairs. Further, it automates much of the labour-intensive calculating and forecasting smaller communities likely do manually, which means more efficient operations overall.
Myth #5: “Asset Management Is Just for Big Cities”
It’s easy to assume that Asset Management is a practice reserved for large metropolitan areas with complex infrastructure. However, every municipality, regardless of size, has infrastructure that needs management—whether it’s a water treatment plant, a fleet of vehicles, or park facilities.
Truth: Asset Management is just as critical for small communities as it is for large ones. In fact, small communities often face unique challenges, such as limited resources, aging infrastructure, and a small workforce. By adopting Asset Management practices and software solutions, small communities can make informed decisions about their assets, extend the life of critical infrastructure, and avoid costly reactive repairs. It enables them to plan for the future with confidence, knowing that their limited resources are being deployed efficiently.
Myth #6: “Asset Management Is Too Time-Consuming”
Implementing an Asset Management program can feel overwhelming, especially when local government staff are already stretched thin. Many small communities believe that Asset Management will require too much time and effort to set up and maintain.
Truth: The initial time commitment for Asset Management can be significant if done alone, but the long-term benefits far outweigh the effort. A well-established Asset Management system can save time in the long run by improving decision-making and reducing the time spent on emergency repairs. Furthermore, the information provided by these programs enable municipalities to make smarter, more efficient decisions, reducing the need for rework and unnecessary spending. Finally, relying on a professional firm with deep expertise in Asset Management strategy and software, like PSD Citywide, means you can fast-track the process relying on a third-party to ensure success.
Final Thoughts
Asset Management is not a luxury for large cities—it’s a necessary tool for all communities, regardless of size. By debunking these myths and recognizing the benefits of a well-implemented Asset Management program, small communities can make informed decisions, extend the life of their infrastructure, and improve service delivery to residents. It’s about being proactive, planning for the future, and making the best use of limited resources. The result is a more resilient and sustainable community that is prepared for whatever the future holds.
At PSD Citywide, we understand the unique challenges small communities face when it comes to implementing Asset Management practices. That’s why we work with more than 600 communities across North America, many of which are smaller municipalities that have embraced Asset Management and are seeing great results from their efforts. Our team is dedicated to providing tailored options from intuitive software solutions to expert advisory services that empower smaller municipalities to take control of their assets.
Ready to take the next step? Contact us today to learn how we can help your community develop and implement an effective Asset Management plan.
