2.0 Transportation Asset Management

The core principles of transportation asset management are summarized below. These principles provide a framework for establishing a SSAMS.

• Policy-Driven – Resource allocation decisions are based on a well-defined and explicitly stated set of policy goals and objectives. These objectives reflect desired system condition, level of service, and safety provided to customers, and typically are tied to economic, community, and environmental goals as well.
• Performance-Based – Policy objectives are translated into system performance measures that are used for both day-to-day and strategic management. Ideally performance measures should be applied to virtually all activities of the organization.
• Analysis of Options and Tradeoffs – Decisions on how to allocate funds within and across different types of investments are based on an analysis of how different allocations will impact achievement of relevant policy objectives. Alternative methods for achieving a desired set of objectives are examined and evaluated. These options are not constrained by established organizational unit boundaries – for example, solving a congestion problem could involve a capacity expansion or an operational improvement (e.g., signal coordination). The best method is selected considering the cost (both initial and long-term) and likely impacts on established performance measures. The limitations posed by realistic funding constraints must be reflected in the range of options and tradeoffs considered.
• Decisions Based on Quality Information – The merits of different options are evaluated using credible and current data. Where appropriate, decision support tools are used to provide easy access to information and to perform specialized analyses (e.g., simulation, optimization, scenario analysis, life-cycle cost analysis).
• Monitoring to Provide Clear Accountability and Feedback – Performance results are monitored and reported for both impacts and effectiveness. Feedback on actual performance indicates progress toward agency goals and objectives, and is connected to resource allocation and utilization decisions.

These principles provide a conceptual framework for transportation asset management. The specific business processes, tools, and techniques will vary depending on the specific domain within transportation. The next section examines the signal system operations domain, explores how transportation asset management principles are currently being applied, and identifies constraints and opportunities for further strengthening the application of these concepts.

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