CNAM is pleased to share the outcome statement from the 2024 Virtual Summit.
The CNAM 2024 Virtual Summit brought together nearly 200 participants to discuss emerging trends, challenges, and strategies shaping the future of asset management in Canada. The event fostered national collaboration by combining virtual attendance with in-person boardroom participation, promoting engagement at both local and national levels
Key Themes and Outcomes
1. Emerging Trends & Priorities:
- Natural Assets & Green Infrastructure – Focus on sustainability, climate resilience, and valuation of green infrastructure.
- Data Governance & Quality – Emphasis on reliable data collection, management, and integration for informed decision-making
- Equity & Community Engagement – Inclusion, diversity, and fostering dialogue with stakeholders
- Climate Change & Resilience – Strategies for adaptation, risk assessment, and sustainability in asset management
- Risk Management & Decision-Making – AI-driven risk assessments, decision making frameworks, and strategic planning
- Financial Planning & Tools – Sustainable funding models, budget alignment, and lifecycle cost assessments
- Technology & Innovation – Integration of AI, asset management software, and predictive analytics
- Standards & Best Practices – Establishing industry frameworks, KPIs, and benchmarking for continuous improvement.
2. Future-Proofing Asset Management:
- Dedicated asset management staff in all service areas.
- Cross-team collaboration and knowledge sharing.
- Standardized governance, KPIs, and documentation processes.
- Integration of climate resilience into infrastructure planning.
- Expanding training programs and capacity-building initiatives.
- Leveraging smart technology for data-driven decision-making.
3. Regional Insights & Strategic Actions:
- Atlantic Canada: Need for data governance, succession planning, and
infrastructure renewal - Ontario: Compliance with new regulations, addressing aging infrastructure, and
aligning asset management with financial planning - Manitoba, Saskatchewan: Capacity-building, community networking, and
prioritizing data governance - BC and Alberta: Enhancing regional collaboration, policy advocacy, and sustainable
infrastructure investments.
Conclusion
The CNAM 2024 Virtual Summit provided a platform for national dialogue, offering actionable insights into future asset management strategies. The key takeaways highlight the necessity for stronger governance, technological integration, financial sustainability, and climate-conscious infrastructure planning. The collaborative approach reinforced CNAM’s mission to build knowledge, capability, and innovation within the asset management community.