Performance-Based Decision Making for Asset Management

Jason ng © Unsplash

As asset management continues to mature and evolve, so too have the tools and techniques used by jurisdictions to prioritize maintenance, rehabilitation, and reconstruction of their assets; and allocate limited resources. Gone are the days of selecting projects based on a "worst first" or age-based strategies. These are being replaced with engineering and financial tools/methods to produce optimized decisions based on sound data that can be defended against scrutiny from elected officials and constituents. However, there is still much to learn about performance-based decision-making and the best techniques to ensure success. Despite much progress, many public transportation agencies could benefit from practical examples and tools that could be deployed to advance their asset management practices, improve decision-making transparency, and optimize network investments.