ASSET MANAGEMENT. Transportation Asset Management: Basics. Stephen Gaj Leader, System Management & Monitoring Team Office of Asset Management FHWA

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1 Transportation Asset Management: Basics Stephen Gaj Leader, System Management & Monitoring Team Office of Asset Management FHWA

2 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

3 What is Transportation Asset Management? Asset Management is more than a pavement management system, bridge management system, maintenance management system, etc. Asset management is about managing your network over the whole life-cycle; includes, managing your pavements, bridges, congestion, safety, and other assets. System preservation is important.

4 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

5 National Context Aging Infrastructure Growing Congestion Funding Shortfall Focus on System Performance Asset Management is Imperative

6 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. Stimulus Recovery funding no waste, etc.

7 How Does Transportation Asset Management Work? 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

8 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

9 Management Systems and Preservation Pavement Bridge (Pontis) Maintenance Safety Hardware Etc.

10 Effective Uses of Management Systems To support preservation programs To establish investment levels To establish agency goals To establish links to maintenance To support engineering and economic analysis To determine remaining service life To support other uses

11 Support for Pavement Preservation - Minnesota Candidates for preventive maintenance triggered by pavement management Districts identify preventive maintenance projects they want to construct Pavement management must sign off

12 $/mile Good Pavements Cost Less $$$ Decreasing costs! Time

13 Pavement Condition Performance Models Preventive Maintenance Rehabilitation Pavement Age or Traffic

14 Asset Management: Five Core Questions 1. What is the current state of my assets? 2. What is my required level of service/ performance? 3. Which assets are critical to sustained performance? 4. What are my best Operations and Maintenance and Capital Improvement investment strategies? 5. What is my best long-term funding strategy?

15 Asset Management: Five 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?

16 Asset Management: Five 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?

17 Asset Management: Five Core Questions 3. Which assets are critical to sustained 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?

18 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?

19 How to Develop and Implement a Transportation Asset Management Program 1. Set Target Level of Service/Performance Goals 2. Develop Asset Inventory 3. Condition Assessment, Failure Modes 4. Determine Remaining Service Life 5. Determine Life Cycle & Replacement Costs

20 How to Develop and Implement a Transportation Asset Management Program (Continued) 6. Determine Business Risk 7. Optimize Operation and Maintenance 8. Optimize Capital Investment 9. Determine Funding Strategy 10. Build Asset Management Plan

21 Transportation Asset Management Feedback Goals and Objectives Analysis of Options and Tradeoffs Preservation, Operations, Capacity Expansion Decision-Making & Resource Allocation Implementation Overview Inventory and condition assessment Policies Budgets Expectations Monitoring and Performance Measures

22 Preservation Operations RESOURCES Capital Improvement Safety Other ASSET MANAGEMENTTransportation Asset Management

23 The Application of Transportation Asset Management Planning process Initial goal setting Long-range planning TIP/STIP development Operation Preservation Maintenance Safety Climate Change Performance Measurement/Evaluation

24 The most successful asset management programs: Have performance measures that guide investment decisions 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

25 The 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 champion

26 Challenges to Implementing Link Asset Management to decision making 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

27 The agency using TAM will improve customer satisfaction by: Maximizing highway service performance 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 Planning for climate change

28 Resources Are Available AASHTO Transportation Asset Management Guide and NHI course Asset Management Today website / community of practice: AASHTO Asset Management Subcommittee TRB Asset Management Committee Office of Asset Management, FHWA AASHTO-AGC-ARTBA Data Collection Guide Other