GETTING A MEASURE

In the road sector, asset management (AM) is about managing highway assets in a cost effective way to maintain their value to the local authority and to the public. The government is driving the introduction of AM with a commitment to introduce resource accounting and budgeting. The concept of asset management plans is often included in maintenance plans and local transport plans. The value of an asset is based on its condition and level of service it provides. Challenges facing local authorities that wish to implement asset management are listed. AM also enables assets to be managed in an integrated way, improving efficiency and reducing duplication and redundancy of data, systems and processes. Appropriate performance measures can be designed to establish targets against which the performance of assets can be measured.