Transportation Asset Management: Basics
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Presentation Transcript

What is transportation asset management

“Transportation Asset Management is a strategic and systematic process of operating, maintaining, upgrading and expanding physical assets effectively throughout their lifecycle. It focuses on business and engineering practices for resource allocation and utilization, with the objective of better decision making based upon quality information and well defined objectives.” AASHTO Subcommittee on Asset Management

What is Transportation Asset Management?


Why transportation asset management

“As government providers and operators of transportation systems, we face an increasingly complex challenge of improving safety, mobility and the aesthetics of our highway system in an environment of constrained resources. Implementing an asset management approach is essential to ensure that we invest the public funding entrusted to us wisely, and that we minimize long-term costs in achieving our desired service level objectives.”

Neil J. Pedersen, Administrator, Maryland State Highway Administration

and Vice-Chair, AASHTO Subcommittee on Asset Management

Why Transportation Asset Management?


National context

Aging Infrastructure systems, we face an increasingly complex challenge of improving safety, mobility and the aesthetics of our highway system in an environment of constrained resources. Implementing an asset management approach is essential to ensure that we invest the public funding entrusted to us wisely, and that we minimize long-term costs in achieving our desired service level objectives.”

Growing Congestion

Funding Shortfall

Focus on System Performance

Asset Management is Imperative

National Context


Report on the national surface transportation policy and revenue study commission

Rebuilding America: A National Asset Management Program. The first of the 10 programs proposed by the Commission would put and keep the Nation’s infrastructure in a state of good repair in the most efficient and cost-effective manner possible.

Report on the National Surface Transportation Policy and Revenue Study Commission:


Improved decision-making supported by policies, performance-based goals, performance measures, and appropriate service levels

Decisions are based on accurate data, and sound engineering and economic analysis

Long-term view of assets

More robust management and monitoring systems

How Does Transportation Asset Management Work?


What makes tam strategic

Focus on the strategic goals of the agency, performance measures, and system performance

All assets considered comprehensively

Compare performance with desired performance measures

Tradeoff analysis and life cycle performance used to support decision making

Apply economics, business and engineering principles, needs assessment/public involvement, and risk assessment to manage assets and evaluate tradeoffs

What Makes TAM Strategic?


Asset management five core questions

What is the current state of my assets? measures, and system performance

What is my required level of service/ performance?

Which assets are critical to sustained performance?

What are my best “Operations and Maintenance” and “Capital Improvement” investment strategies?

What is my best long-term funding strategy?

Asset Management: Five Core Questions


Asset management five core questions1
Asset Management: measures, and system performanceFive Core Questions

  • 1. What is the current state of my assets?

    • What do I own?

    • Where is it?

    • What condition is it in?

    • What is its remaining useful life?

    • What is its remaining economic value?


Asset management five core questions2
Asset Management: measures, and system performanceFive Core Questions

2. What is my required level of service/ performance level?

  • What is the demand for services by stakeholders?

  • Are there regulatory requirements?

  • What is my actual performance?


Asset management five core questions3

3. Which assets are critical to sustained performance? measures, and system performance

How does it fail? How can it fail?

What is the likelihood of failure?

What does it cost to repair?

What are the consequences of failure?

Asset Management:Five Core Questions


Asset management five core questions4

4. What are my best “Operations and Maintenance” and “Capital Improvement” investment strategies?

What alternative management options exist?

Which are the most feasible for my organization?

5. What is my best long-term funding strategy?

Asset Management:Five Core Questions


How to develop and implement a transportation asset management program

Set Target Level of Service/Performance Goals “Capital Improvement” investment strategies?

Develop Asset Inventory

Condition Assessment, Failure Modes

Determine Remaining Service Life

Determine Life Cycle & Replacement Costs

How to Develop and Implement a Transportation Asset Management Program


How to develop and implement a transportation asset management program1
How to Develop and Implement a Transportation Asset Management Program

(Continued)

  • Determine Business Risk

  • Optimize Operation and Maintenance

  • Optimize Capital Investment

  • Determine Funding Strategy

  • Build Asset Management Plan


Transportation Asset Management Management Program

Overview

Goals and Objectives

Inventory and condition assessment

Analysis of Options

and Tradeoffs

Preservation, Operations,

Capacity Expansion

Policies

Budgets

Expectations

Decision-Making &

Resource Allocation

Feedback

Implementation

Monitoring and Performance Measures


Transportation asset management
Transportation Asset Management Management Program

RESOURCES

Preservation

Operations

Capital Improvement

Safety

Other


The application of transportation asset management

Planning process Management Program

Initial goal setting

Long-range planning

TIP/STIP development

Operation

Preservation

Maintenance

Performance Measurement/Evaluation

The Application of Transportation Asset Management


The most successful asset management programs

Have performance measures that guide investment decisions Management Program

Adopt a ‘preservation first’ strategy for their investment priorities

Moved away from a “worst first” investment strategy, and instead have adopted investment principles that are based on life cycle costing

The most successful asset management programs:


The most successful asset management programs1

Undertake scenario analysis showing the consequences on performance measures of various investment decisions

Conduct an organizational self assessment as one of the most important starting points for implementing an asset management process

Have an Asset Management champion

The most successful asset management programs:


Challenges to implementing

Link Asset Management to decision making performance measures of various investment decisions

Collect the right data for performance measures

Develop and convey top management support and commitment

Identify the individuals responsible for implementation

Overcome resistance to change

Challenges to Implementing


The agency using tam will improve customer satisfaction by

Maximizing highway service performance performance measures of various investment decisions

Minimizing life cycle costs

Being more accountable

Being better positioned to anticipate and secure needed funding

Improving highway safety

Matching service levels with customer expectations

The agency using TAM will improve customer satisfaction by:


Resources are available

AASHTO Transportation Asset Management Guide and NHI course performance measures of various investment decisions

Asset Management Today website / community of practice: http://assetmanagement.transportation.org

AASHTO Asset Management Subcommittee

TRB Asset Management Committee

Office of Asset Management, FHWA

AASHTO-AGC-ARTBA Data Collection Guide

AASHTOWare: Assetmanager NT and PT

Other

Resources Are Available


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