Transportation Asset Management: Basics Speaker.
Neil J. Pedersen, Administrator, Maryland State Highway Administration
and Vice-Chair, AASHTO Subcommittee on Asset ManagementWhy Transportation Asset Management?
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?
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 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?
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
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
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
Goals and Objectives
Inventory and condition assessment
Analysis of Options
Monitoring and Performance Measures
Initial goal setting
Performance Measurement/EvaluationThe Application of Transportation Asset Management
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:
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:
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:
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