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The last step, Communicate, reinforces the importance of educating staff on asset management concepts and processes to build the in-house asset management program, and of communicating the results to the public, decision makers, and other stakeholders. The infrastructure problem is not only a City staff problem; it is a public problem that needs to be understood and addressed by all. The following section shows the translation of the key-steps into project tasks and their reference to RFQ scope of work. Phases 1 and 2 have been approved and budgeted. These phases’ tasks are currently being implemented. The tasks related to Phase 3 of are highlighted in green. The scope of service for these tasks is provided below. Project Tasks RFQ Reference Task 1 Asset Management Roadmap Phase 1 Task 2 Asset Inventory and Condition Assessment Phase 2 Task 3 Estimate Replacement Cost Phase 2 Task 4 Perform Risk Assessment Phase 2 Task 5 Determine the Desired Level of Service Phase 1 Task 6 Perform Life Cycle Cost and Cost of Ownership Analyses Phase 3 Task 7 Develop Asset Management Plan Phase 3 Task 8 Funding Scenario Analysis Phase 3 Task 9 Communication and Program Building Phase 1, 2, 3 Phase 3 Scope of Services Task 6 Perform Life Cycle Cost and Cost of Ownership Analyses A key aspect of asset management is to plan ahead and understand the cost required to sustain services. To address this aspect, Kayuga will perform life cycle cost assessment for each asset in the asset register. The life cycle cost assessment estimates the cost required to perform maintenance, refurbishment, and/or replacement for each asset. Life cycle cost assessment can be performed for any designated planning horizon (e.g., 5 years, 10 years, 20 years, 50 years) requested by the City. An important element of the life cycle cost process is the concept of management strategy. Kayuga will develop management strategies to characterize the life cycle behavior of all assets. These management strategies will include useful life as well as the timing and cost of maintenance and refurbishment activities. These management strategies will be influenced by the City’s established levels of service. Kayuga will provide the City with a management strategy table and a renewal profile showing projected annual rehabilitation and replacement funding needs over the planning horizon. Kayuga will highlight the estimated budget required to maintain the assets. Kayuga will utilize IRIS for life cycle cost calculation. IRIS will use the City’s asset register and management strategies to calculate a life cycle cost of ownership for each asset. IRIS will model financial requirements and average investment requirements for any planning horizon chosen by the City, and it will identify the following for each year: • Assets requiring action • Type of action required (maintenance, rehabilitation, or replacement) • Estimated cost for each asset action • Estimated total budget required for each year Docusign Envelope ID: 68CA9FA1-7287-4B30-A9CA-8FBCA43733B4Docusign Envelope ID: 6475021B-3345-494C-9174-2E18C1EDC00A