Scholars and consultants have proposed a number of schematics for the structure of an asset management strategy. Perhaps the best known is the ‘‘generic’’ framework that appears in the FHWA Primer and reproduced here as Figure 1. The components of the framework, which are discussed in greater detail below, include goals, data and analysis modules, reporting modules, and feedback mechanisms.
The generic process is applicable in any organization that wants an organized, logical approach for systematically and cost-effectively maintaining, upgrading, and operating physical assets. The FHWA process helps to identify the consequences of not maintaining an organization’s assets and using that information to communicate the impact of the condition and performance of our assets on the system and end user.
The generic process is applicable in any organization that wants an organized, logical approach for systematically and cost-effectively maintaining, upgrading, and operating physical assets. The FHWA process helps to identify the consequences of not maintaining an organization’s assets and using that information to communicate the impact of the condition and performance of our assets on the system and end user.
FHWA Step 1- Goals & Policies
The first generic step is to establish performance expectations, consistent with goals, available budgets, and organizational policies. Such goals and policies are used to guide other steps of the analytical process, as well as the decision-making framework.
FHWA Step 2 - Asset Inventory
The second generic step involves collection and analysis of asset inventory information. This information also provides input to other process steps.
FHWA Step 3 - Condition Assessment & Performance Monitoring
The next generic step is collection and analysis of asset condition and performance information. This information also provides input on subsequent process steps.
FHWA Step 4 - Alternatives Evaluation & Program Optimization
The next generic step is to apply analytical tools and reproducible procedures to produce viable cost-effective strategies for allocating budgets to satisfy agency needs and user requirements, using performance expectations as critical inputs.
FHWA Step 5 - Short and Long Range Plans (Project Selection)
Generically, the next step evaluates alternative project choices, consistent with long-range plans, policies, and goals.
FHWA Step 6 - Program Implementation
Gain upper management approval and funding of selected projects.
FHWA Step 7 - Performance Monitoring (Feedback)
The entire process is reevaluated annually through performance monitoring and systematic processes.
responsible stewardship of the nation's aging Infrastructure
Last Modified 21 August 2010
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The Generic Process for Asset Management
