Transportation Asset Management: Basics Speaker.
“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 ManagementWhat is 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 ManagementWhy Transportation Asset Management?
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.”
Focus on System Performance
Asset Management is ImperativeNational Context
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?
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 tradeoffsWhat Makes TAM Strategic?
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
2. What is my required level of service/ performance level?
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
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
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 CostsHow to Develop and Implement a Transportation Asset Management Program
Transportation Asset Management Management Program
Goals and Objectives
Inventory and condition assessment
Analysis of Options
Monitoring and Performance Measures
Planning process Management Program
Initial goal setting
Performance Measurement/EvaluationThe Application of Transportation Asset Management
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 costingThe most successful asset management programs:
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 championThe most successful asset management programs:
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 changeChallenges to Implementing
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 expectationsThe agency using TAM will improve customer satisfaction by:
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
OtherResources Are Available