The time is right for Asset Management in transportation agencies. Demands on the nation’s mature and deteriorating transportation system have increased considerably due to high and growing transport productivity and mobility. These increased demands present a significant challenge to many agencies, especially where budget and personnel constraints force them to do more asset enhancement and preservation work with less staff and less money. Asset Management helps agencies identify ways to leverage their resources to respond to increasing system demands while maintaining adequate levels of service. It provides a means to prioritize requirements and allocate funds across different assets and over time in the most cost-effective way.
Asset Management also allows agencies to take advantage of increasingly powerful and generally affordable computers, sophisticated analytical tools, and advances in information technology. The new technology provides quicker and improved ways to gather, process, and analyze data as well as to make sound management decisions affecting the assets.
Finally, Asset Management helps agencies demonstrate to the public that they are responsible stewards of the Nation’s transportation assets. Increasingly, the public is demanding more information about how effectively the government is managing the Nation’s infrastructure. Asset Management, which is based on combined engineering and economic principles, will assist in demonstrating to the public that the government is making sound transportation investment decisions.
Users with questions or comments about the Asset Management Web site can e-mail Nikki Nowack