Skip to main content

Currently Skimming:


Pages 55-64

The Chapter Skim interface presents what we've algorithmically identified as the most significant single chunk of text within every page in the chapter.
Select key terms on the right to highlight them within pages of the chapter.


From page 55...
... 55   Incorporating Maintenance into Investment Strategies Investment Strategies Investment strategies are very closely connected with financial plans. Like financial plans, they are a required component of federally compliant TAMPs for state DOTs (23 USC 119)
From page 56...
... 56 A Guide to Incorporating Maintenance Costs into a Transportation Asset Management Plan One aspect of maintenance investment strategies that is not directly addressed in previous TAM guidance is the use of maintenance performance-based budgeting to support overall asset management investment strategies. The MQA performance-based budgeting practice, as described earlier in this Guide, is the primary means for connecting maintenance budget expenditures to asset and system performance and is therefore essential to the process of including maintenance costs in TAMP investment strategies.
From page 57...
... Incorporating Maintenance into Investment Strategies 57   Including maintenance in scenario planning involves identifying the types of maintenance needs that will be required under each scenario and determining the type and number of maintenance activities that are needed. Maintenance activities are generally needed both to help achieve the forecasted conditions and to address system deficiencies if forecasted conditions do not meet the desired state of good repair.
From page 58...
... 58 A Guide to Incorporating Maintenance Costs into a Transportation Asset Management Plan 1. Account for Assumed Maintenance Costs in an Asset Management System Analysis Pavement and bridge management systems forecast asset deterioration based on performance curves that are developed from historical data.
From page 59...
... Incorporating Maintenance into Investment Strategies 59   is addressed using informal methods in which a small group of decision makers arrives at a negotiated solution after subjectively reviewing the available data, often relying heavily on past precedent or formula allocations. In recent years transportation agencies have sought to use more structured approaches that make use of available data as well as to improve the documentation and reproducibility of their decisions.
From page 60...
... 60 A Guide to Incorporating Maintenance Costs into a Transportation Asset Management Plan Cross-Program Trade-Off In cross-program trade-offs, agencies apply the same principles of MODA to determine how to balance funding between different programmatic objectives or performance areas such as safety, asset conditions, and system performance. Maintenance work can play a key role in accomplishing each performance area.
From page 61...
... Incorporating Maintenance into Investment Strategies 61   Step 5 -- Identify Candidate Projects and Field Crew Capacity With the budget allocated and current projects accounted for, the next step is to identify potential means of using the remaining budget to achieve the asset management objectives and address risks. For maintenance work, this often includes both contract and field crews.
From page 62...
... 62 A Guide to Incorporating Maintenance Costs into a Transportation Asset Management Plan Step 6 -- Select Projects and Maintenance Priorities for Each Scenario It is likely that the list of commitments identified in Step 2 and candidate projects identified in Step 5 exceed available funding. To develop the preferred investment strategy, it may be necessary to evaluate several scenarios at each investment level that represent ways to prioritize the use of funding.
From page 63...
... Incorporating Maintenance into Investment Strategies 63   Step 7 -- Review Predicted Future Conditions and Predicted Maintenance Needs At this point, several scenarios have likely been identified as possibilities for using the available funding for contracts. Each of those scenarios will have different impacts on conditions and therefore different maintenance needs.
From page 64...
... 64 A Guide to Incorporating Maintenance Costs into a Transportation Asset Management Plan should also include a description of the purpose, priorities, expected accomplishments, and expected impact of the maintenance investments. This narrative should describe how the maintenance strategy recognizes and addresses the risks and opportunities presented by the preferred investment strategy.

Key Terms



This material may be derived from roughly machine-read images, and so is provided only to facilitate research.
More information on Chapter Skim is available.