121.5 Asset Management

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Revision as of 13:53, 4 January 2019 by Smithk (Talk | contribs) (Per TP, updated EPG 121, 121.1, 121.2 and 121.5 to current practices.)

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Transportation asset management is a strategic framework for making cost-effective decisions about allocating resources and managing infrastructure. It is based on a process of monitoring the physical condition of assets, predicting deterioration over time and providing information on how to invest in order to maintain or enhance the performance of assets over their useful life.

MoDOT’s asset management plan is a crucial element in achieving MoDOT’s strategic goal of keeping roads and bridges in good condition. This plan ensures MoDOT is using taxpayer money wisely by:

  • Minimizing life cycle costs,
  • Maximizing system performance,
  • Supporting an objective decision making process, and
  • Balancing public expectations with limited funding to create a sustainable plan.

Each district asset management plan should be a guiding tool to help program the Statewide Transportation Improvement Program (STIP) by demonstrating what work needs to be programmed in order to maintain the system. STIP development must be considered with the district’s AMP goals. Further information and guidance on statewide district goals and asset management can be found on the asset management SharePoint site.