Integrating Effective Transportation Performance, Risk, and Asset Management Practices (2022) / Chapter Skim
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Pages 48-53
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From page 48... ...
What is essential is that feedback is gathered from a comprehensive background of agency resources and that it is activated in the ongoing assessment dialogue to further develop integration e orts. The Financial Cost of Integration Integration of performance, risk, and asset management is an investment of time and nances into achieving more e ective and more e cient outcomes.
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From page 49... ...
Such nancial bene ts will come from reduced maintenance costs, minimized loss due to external (e.g., politics, stakeholders) environmental or nancial risks, and improved asset management.
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From page 50... ...
As an example, Caltrans had a mandated review in FY 21 for the first round of investments under its efforts to integrate performance, risk, and asset management, the State Highway Operation and Protection Program (SHOPP)
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From page 51... ...
Level Level Level 4 Defined The agency has begun to identify practical steps to move toward an integrated management program by developing initial documentation, pursuing a framework for uniting the budget, and creating a division or unit responsible for performance, risk, and asset management, including the establishment of metrics to monitor integration. The agency has formally begun the evolution, though day-to-day operations are largely unaffected, apart from initial pilot efforts, and any outcomes or process changes are highly tentative.
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From page 52... ...
In order to address such issues, Highways England hopes to more broadly implement modern technology to monitor assets, automate data collection, and produce dynamic interfaces to improve agency efficiency with asset management practices, thus making room for more innovative approaches and strategies. To achieve a stable and effective budget, Highways England has found it is important to study and to understand the full life cycle of each road investment period.
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From page 53... ...
The 2-year rolling cycle of updating performance goals against programmed and executed projects will provide the insight needed to track the return on investment to meet the agency's goals from SHOPP over the anticipated 10-year program. Because funding remains a consistent limiting factor for ASFiNAG, as it does for most similar agencies, it is important that the asset management staff are able to identify opportunities for improved efficiency in the short and long term.
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