US experiences with asset management: adapting to extreme events and associated risks

Illustrations - Hurricane Sandy consequences

The Federal Highway Administration (FHWA) continuously seeks innovative ways to improve the management of the United States' highway infrastructure. The use of risk management among U.S. transportation agencies largely is limited to managing risk at the project level, generally focusing on the construction stage. Risk management helps to identify threats and opportunities to a project's cost, scope and schedule. We are currently expanding our knowledge and understanding of risk management to include it at the program and organizational levels.