What is Transportation Asset Management - TAM?
In 2012, President Obama signed into law new legislation that is commonly referred to as the Moving Ahead for Progress in the 21st Century Act, more commonly known as MAP-21. In addition to providing funding, this legislation established a performance-based Federal highway program (NHPP) which introduced asset management as “ a strategic and systematic process of operating, maintaining, and improving physical assets, with a focus on engineering and economic analysis based upon quality information, to identify a structured sequence of maintenance, preservation, repair, rehabilitation, and replacement actions that will achieve and sustain a desired state of good repair over the lifecycle of the assets at a minimum practicable cost.
the TAM Objective...
ODOT sees Transportation Asset Management as a way of managing an increasing highway system at a time when funding is decreasing. ODOT’s TAM program offers a process that depends on quality information and disciplined analysis which establishes a basis for optimizing expenditure tradeoffs that impact the ability to sustain or improve the conditions of the system at a minimum cost.
This basis for optimizing the balance of construction activities is then improved upon as the TAM process allows the agency to answer questions such as:
- What is the current state of the system assets?.
- What are the required levels of service and performance delivery?.
- Which assets are critical to sustained performance?.
- What are the best investment strategies for addressing operation, maintenance, replacement, and improvement needs.
- What is the best long-term funding strategy?w
- Project Consultant Team.
...TAM At Work
ref: Michigan Department of Transportation