Chapter 1 Summary
Introduction
This chapter introduces transportation asset management concepts and describes the organization of the guide.
What’s Important
Transportation Asset Management (TAM) is defined by the American Association of State Highway Transportation Officials (AASHTO) as a strategic and systematic process focused on business and engineering practices for allocating resources to assets throughout their lifecycles.
How the Guide Can Help
The purpose of this guide is to further transportation agencies’ understanding of asset management techniques and advance its practices. While the target audience for the guide is primarily State Departments of Transportation (DOTs), local agencies managing metropolitan, county, or mixed transportation networks will find it just as useful and appropriate to their needs.
Spotlight on
TAM Plans and Policies
The overall objective of asset management is better decision making in allocating resources based upon quality information and well defined objectives. The main benefits of asset management include:
- Improved asset condition performance, resilience, and longevity
- Increased efficiency and effectiveness
- More benefit for each dollar invested
- Improved accountability
- Reduced risk exposure
- Improved coordination and efficiency