Abstract
Most people realize that the nation's transportation infrastructure is aging faster than federal, state, and local governments can manage with traditional methods. In fact, a national and international trend is occurring where stakeholders are moving toward better management of transportation assets through the concepts of asset management. Asset management focuses on the long-term performance of assets at the lowest, long-term costs. Key components of asset management include maintaining assets in a state of good repair, meeting performance requirements in a cost-effective manner, consideraring life-cycle costs, and maintaining a functioning network.
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