Transportation Asset Management

1
TransportationAsset Management
An Introductory Briefing
Presented by
Madeleine Bloom, Director Office of Asset
Management, FHWA
2
Agenda

• Introduction
• What is Asset Management?
• Why Asset Management?
• How do we get there?
• Conclusion

Asset
FEDERAL HIGHWAY ADMINISTRATION
Management
3
What is Asset Management ?
Working Definition

• No definitive definition
• Bottom-line Cost-effective resource allocation
  and programming decisions

Asset
FEDERAL HIGHWAY ADMINISTRATION
Management
4
What is Asset Management ?
What it means.

• Partnership
• Consensus
• Information based
• Strategic Resource Allocation
• Performance Measurement
• Feedback

Asset
FEDERAL HIGHWAY ADMINISTRATION
Management
5
What is Asset Management ?
Key Elements
Economics
Engineering
Business Practices
Asset
FEDERAL HIGHWAY ADMINISTRATION
Management
6
What is Asset Management?
Broad Range of Assets
Highway
Air
Transit
Pavements Bridges Hardware Tunnels Signals Rest
Areas ? ? ?
Tracks Rolling Stock Stations ? ?
?
Runways Terminals Hangers ? ? ?
Dollars
People
Data
Asset
FEDERAL HIGHWAY ADMINISTRATION
Management
7
Why Asset Management
Driving Trends
Transportation Environment

• System Demands
• Personnel Constraints
• Increased Budget Demands

Asset
FEDERAL HIGHWAY ADMINISTRATION
Management
8
Why Asset Management
Driving Trends
Accountability

• What is Bought with Public Funds
• How Spending Decisions are made
• What is Accomplished

Asset
FEDERAL HIGHWAY ADMINISTRATION
Management
9
Why Asset Management
Driving Trends
GASB Statement No. 34

• New Financial Reporting Requirement for States
• Requires Recording of Long-Lived Infrastructure
• Depreciation or Preservation (Asset Management)
  Approach

Asset
FEDERAL HIGHWAY ADMINISTRATION
Management
10
Why Asset Management
Driving Trends
Technological Advances

• Increasingly powerful computers
• Sophisticated analytical tools and techniques
• Advances in information technology

Asset
FEDERAL HIGHWAY ADMINISTRATION
Management
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How Do We Get There?
FHWA Office of Asset Management

• FHWA Reorganization
• Consolidate Disparate Functions
• Partnership with AASHTO

Asset
FEDERAL HIGHWAY ADMINISTRATION
Management
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How Do We Get There?
AASHTO/FHWA Partnership

• AASHTO Task Force
• Workshops
• AASHTO Guide to Asset Management (NCHRP)
• AASHTO Strategic/Action Plan

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Transportation Asset Management Workshops
How Do We Get There?
AASHTO/FHWA Partnership
Asset
FEDERAL HIGHWAY ADMINISTRATION
Management
14
Strategic Plan - Goals
How Do We Get There?
AASHTO

• Develop Partnerships
• Develop an Understanding
• Develop Tools and Research
• Inform Leadership on Use
• Assist Member States

Asset
FEDERAL HIGHWAY ADMINISTRATION
Management
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Keys to Success
Conclusion

• Sustained Political Commitment
• Executive Leadership
• Commit Resources - State and National Level
• Facilitate Sharing between States
• Pool Organizational Resources - AASHTO, TRB/NCHRP
  and FHWA

Asset
FEDERAL HIGHWAY ADMINISTRATION
Management