An approach for determining the maintenance requirement for any physical asset, based on its operating context within the agency. Typically, used on assets with shorter asset life cycles.

Development of reports by Federal funding recipients that document progress toward target achievement, including the effectiveness of Federal-aid highway investments.

• Review related statutes
• Review related regulations

Scarce good required by an agency to support its mission. This may include funds, materials, staff time, or other items.

The process of assigning scarce resources to investments in transportation assets.

The positive or negative effects of uncertainty or variability upon agency objectives. (from 23 USC 515.6).

The processes and framework for managing potential risks, including identifying, analyzing, evaluating, and addressing the risks to assets and system performance. (23.C.F.R 515.5)

This high-level step sets up the policies, enablers, and controls for conducting LCP at both the asset and network levels Work tasks under this high-level step include:

1. Select asset classes and subgroups of asset classes. Define homogeneous asset groups by asset families that have similar characteristics, deterioration patterns, and system hierarchy.
2. Establish performance measures, criteria for intervention needs, and life-cycle analysis parameters.
3. Update asset-level histories and forecasts, including condition and inspection data, traffic volumes, truck weights, construction history, crash history, hazard history, and environmental demand. Update condition deterioration models as necessary.
4. Formulate feasible asset-level LCP strategies and network-level LCP scenarios.

Note: These Key Concepts were derived from NCHRP Web-Only Document 365: Implementation of Life-Cycle Planning Analysis in a Transportation Asset Management Framework. Further information is available in the full report.

An acronym commonly used for evaluating performance targets to determine whether they are specific, measurable, achievable, relevant, and time-related.