Asset Performance targets should be
Project-level investment decision-making should be aligned with stated agency goals and objectives.
There are a variety of techniques employed to support informed maintenance, rehabilitation, and replacement project selection.
- Simple Asset Information Summaries: Expose trends in asset allocations, inventory, condition, and/or performance through business intelligence tools (ideally as formal performance dashboards). By promoting visibility of performance outcomes, TAM practitioners and management will be encouraged to evaluate and improve existing project selection practices.
- Network Screening Tools: Evaluate available data, such as asset inventory, condition, utilization, risk, or other factors, to identify ideal TAM investments for individual assets or locations.
- Multi-Objective Decision Analysis techniques can be employed to objectively evaluate project costs with respect to anticipated benefit to agency goals or objectives. Evaluation results should be formally be incorporated into decision-making through well-documented procedures that are routinely evaluated against agency priorities.
The following terms are used within this Section.
Metrics allowing for measurement and comparison of outcomes across asset programs, typically established based on the agency goals and performance objectives. Examples can include benefit, value, need backlog, safety, operational performance, etc.
A resource allocation technique where potential investment strategies across multiple asset and/or program areas are evaluated to identify an investment program which best meets overarching agency priorities.
A decision-making process utilized to make the best decision against a complex set of competing criteria and priorities. When used by DOTs, multi-objective decision analysis (MODA) is typically used in capital project selection.
Utilizing an established objective hierarchy and defined value function (based on agency goals and objectives), the DOT completes detailed, project-level data collection and analysis to score potential projects and identify those with the highest returns on investment. These projects are then prioritized in programming of available funds.
Reflect agency TAM goals, objectives, measures, and targets. Document funding expectations, key asset life-cycle practices, and roles and responsibilities. Raise TAM awareness and establish agency direction, priorities, and strategy.TAM Resource Allocation and Budgeting
Ensure alignment of TAM resources with established targets. Adjust available resources and budgets or targeted performance as appropriate and necessary.Performance Dashboards
Guide decision-makers by reporting progress and supporting course correction. For this purpose, output measures (e.g. miles paved, bridges rehabilitated) may be correlated to more difficult to monitor outcome measures (e.g. % good pavement, # deficient bridges).Continual Improvement
Identify roles with responsibility and accountability for achieving TAM performance targets. Routinely evaluate to support continual improvement of TAM decision-making business processes.