Generic Methodology for Evaluating Net Benefit of Asset Management System Implementation

Abstract

Although transportation agencies in the United States have been developing asset management systems (AMS) as decision-support tools for specific types of infrastructure assets, there are several barriers to the implementation of AMS. In particular, implementation and development costs are critical issues. Without evidence of AMS benefits, further implementation and development of AMS may be constrained. This paper documents the development of a generic methodology for quantifying the benefits derived from implementation of AMS and justifying investment in AMS implementation. The generic methodology involves three analysis methods: descriptive analysis, regression analysis, and benefit-cost analysis. These methods draw on basic principles of engineering economic analysis and apply to two types of evaluations: an ex post facto evaluation and an ex ante evaluation depending on the time frame and the availability of time series data. While the concepts are relatively simple, the challenge lies in identifying ...