The formation of Asset Management BC involved broad consultation and discussion with a wide selection of stakeholders parties including local governments, professional associations, private and academic sectors. From those broad consultations the core Local Government Asset Management Working Group (LGAMWG) was established.

Asset Management BC is comprised of local government representatives in administrative, technical, operational, financial, planning, and political disciplines as well as key industry associations.

The first formal meeting of the core group produced the terms of reference, vision and mission statement. These documents outline the purpose of the group. With the support of Infrastructure Canada Asset Management BC commissioned a report that researched the state of asset management in BC. Opportunities identified in the State of Asset Management in BC report have been prioritized and incorporated into Asset Management BC's Strategic Work Plan.

Currently, Asset Management BC is in the process of developing a toolkit for local governments which includes an asset management policy, self-assessment tool and roadmap. In the future, Asset Management BC will continue to facilitate educational opportunities, provide asset management resources and assist in knowledge transfer. Asset Management BC is in an excellent position to assist in the advancement of asset management in BC and to contribute to the discussion throughout the nation. Asset Management BC welcomes input and participation from stakeholders within the greater asset management community.