Abstract
The time is right for Asset Management in public agencies. Increased demands on the nation's mature and deteriorating infrastructure system have presented a significant challenge to many agencies, especially where budget and personnel constraints force them to do more asset enhancement and preservation work with less staff and less money. Asset Management helps agencies identify ways to leverage their resources to respond to increasing system demands while maintaining adequate levels of service. It provides a means to prioritize requirements and allocate funds across different assets in the most cost-effective way.This paper contributes to discuss substantial difference between maintenance and Asset Management particularly in terms of asset enhancement and attempts to prove Asset Management shall contain optional operations to enhance assets. From this standpoint, an approach to categorize asset valuation is also provided.
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