United States Department of Transportation
i
Managing Risks and Using Metrics in Transportation Asset Management Financial Plans
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2015-01-01
[PDF-482.40 KB]
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Abstract:Transportation agencies have the responsibility and the challenging task to maintain, preserve and improve infrastructure assets (assets) for current and future generations. While maintaining existing assets is an overriding concern for transportation agency officials, most agencies are grappling with funding issues. Considering the fact that assets such as pavements and bridges have long useful lives, a sound asset management practice will necessitate the development of long-term asset management plans. Practices and experiences from other countries with mature asset management processes and also from transportation agencies within the U.S. show that implementing and sustaining the performance and condition of assets requires long-term financial plans that support and are linked to long-term asset management strategies. Comprehensive transportation asset management plans (TAMPs) could show the expected and desired projections of asset performance and condition for ten or more years into the future. A pragmatic TAMP would address the amount of investment required each year for the rehabilitation, preservation and maintenance of assets during their useful life. The associated financial plan can be linked to the targeted performance and conditions of the assets identified in the TAMP.
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