Measuring the Benefits of Implementing Asset Management Systems and Tools

Transportation agencies have identified asset management (AM) as a concept to support cost effective maintenance and rehabilitation decisions related to physical assets. Asset Management Systems (AMS) and tools are required to implement the AM concepts. It is expected that AM improves agencies' performance in terms of the performance of their assets while it reduces agencies' costs for maintenance and rehabilitation (M&R). However, agencies seem to hesitate to move forward in implementing AMS and tools because it is difficult to document whether the benefits produced by AMS or tools exceed the costs for implementation and operation. Without showing the relationship between the benefits and the costs, the implementation will not be realized. Indeed, six of seven research needs studies conducted since 2000 have "Measuring Benefits" as an important area of research to develop the base of support for asset management. Understanding the relationship between the improvement of agencies' performance and costs for M&R is challenging. A new method is required to measure the benefits of implementing AMS implementation and operation costs. The method must be generic and adapt to different AMS and tools and be applicable to a variety of agencies with different resources.

Language

• English

Project

• Status: Completed
• Funding: $39289.00
• Sponsor Organizations:

  Midwest Regional University Transportation Center

  University of Wisconsin
  2205 Engineering Hall, 1415 Engineering Drive, Room 272
  Madison, WI  United States  53706
• Performing Organizations:

  University of Illinois, Chicago

  Urban Transportation Center
  412 Peoria Street, Suite 340
  Chicago, IL  United States  60607-7036
• Principal Investigators:

  McNeil, Sue

• Start Date: 20050615
• Expected Completion Date: 0
• Actual Completion Date: 20060815
• Source Data: RiP Project 19130

Subject/Index Terms

• TRT Terms: Asset management; Benefit cost analysis; Cost effectiveness; Maintenance; Rehabilitation (Maintenance); Research projects
• Subject Areas: Administration and Management; Finance; Highways;

Filing Info

• Accession Number: 01459806
• Record Type: Research project
• Source Agency: Midwest Regional University Transportation Center
• Files: UTC, RIP
• Created Date: Jan 3 2013 1:13PM