The Relationship Between Asset Management and Performance Management

The purpose of this paper is to clarify the relationship between asset management and performance management and to help ensure that efforts to advance these related concepts are coordinated. The best way to define the relationship between asset management and performance management is to recognize that a transportation system’s performance, how well the system provides for the safe, efficient, and environmentally responsible movement of people and goods, depends on many factors including usage and demand, capacity, system operations, user behavior and many other factors in addition to the physical condition of facilities. Performance management is a strategic activity that focuses on how policies, resource allocation and other decisions affect all aspects of system performance including safety, operations, environmental stewardship and infrastructure condition. The basic principles of performance management can be applied to all aspects of transportation system performance and to the performance of transportation agencies as well. Asset management refers to applying performance management principles to the management of transportation physical assets and provides a strategic approach for the preservation, rehabilitation and maintenance of these assets. Asset management is one of the most advanced examples of the application of performance management principles in the transportation industry. In fact, much of the initial work on defining the core principles of what now is called performance management grew out of American Association of State Highway and Transportation Officials (AASHTO) and Federal Highway Administration (FHWA) efforts to promote a strategic approach to asset management. The analytic tools, data, and experience in applying performance management principles are more advanced in asset management than in many other aspects of transportation.

• Record URL:
  • http://onlinepubs.trb.org/onlinepubs/nchrp/docs/NCHRP20-24(58)_AssetMan-PerformanceMan_final.pdf
• Summary URL:
  • https://apps.trb.org/cmsfeed/TRBNetProjectDisplay.asp?ProjectID=2112
• Supplemental Notes:
  • This research was sponsored by the American Association of State Highway and Transportation Officials, in cooperation with the Federal Highway Administration, and was conducted in the National Cooperative Highway Research Program, which is administered by the Transportation Research Board of the National Academies.
• Corporate Authors:

  Cambridge Systematics, Incorporated

  100 Cambridge Park Drive, Suite 400
  Cambridge, MA  United States  02140
• Publication Date: 2012-3

Language

• English

Media Info

• Media Type: Digital/other
• Features: Figures;
• Pagination: 10p

Subject/Index Terms

• TRT Terms: Asset management; Definitions; Transportation
• Uncontrolled Terms: Performance management
• Subject Areas: Administration and Management; Transportation (General);

Filing Info

• Accession Number: 01673598
• Record Type: Publication
• Report/Paper Numbers: NCHRP Project 20-24, Project 58
• Files: TRIS
• Created Date: Jun 25 2018 6:29PM