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Determining the True Cost and Benefit for Collecting and Maintaining Non-Road and Non-Bridge Asset Data
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2022-04-01
[PDF-2.48 MB]
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Edition:November 2020-December 2021
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Abstract:The purpose of this project was to develop a method that could be used to assess the costs and benefits of collecting and maintaining a database on any asset of DOTD, to aid in determining for which assets it was worthwhile to collect data. The literature review established that a methodology for doing this does not already exist. The literature review also helped to define what are the costs involved in collecting data and what benefits might accrue from establishing a database on various assets. Initially, three modules were defined to aid in developing the methodology – costs for establishing a database, costs for maintaining the database, and benefits to be gained from having a database. The costs and benefits were assessed independent of whether the existence of a database would result in applying asset management procedures to the asset. Within each module, factors affecting the module were documented. These factors were used to generate questions about an asset that would allow determination of the costs or benefits. These questions were then incorporated into an Excel workbook with three questionnaires. These questions addressed the characteristics needed to describe the asset, an assessment of the data available or required on the asset, and the benefits of having data on the asset. The responses to the questionnaires are summarized on a fourth spreadsheet that scores the answers and provides an assessment of the costs and benefits on a five-point scale from “Very Low” to “Very High.” Tests were conducted on the workbook with four asset classes—impact attenuators, guardrails, retaining walls, and culverts and cross drains. The results of these four assessments are provided in the report. They show the flexibility of the procedure especially to unknowns concerning an asset. It was noted that some assets are very heterogeneous and may benefit from being divided into subclasses and the workbook completed for each separate subclass.
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