Asset Management is defined by the Federal Highway Administration (FHWA) as:
"A strategic and systematic process of operating, maintaining, and improving physical assets, with a focus on both 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 (SOGR) over the life cycle of the assets at minimum practicable cost (23 CFR 515.5)."
The Moving Ahead for Progress in the 21st Century Act (MAP-21) and the Fixing America's Surface Transportation Act (FAST Act) require each state department of transportation to develop and implement a risk-based asset management plan in accordance with
23 U.S.C. 119.
The intent is to encourage states to achieve and sustain a state of good repair over the life cycle of transportation assets—regardless of ownership—and to preserve or improve the condition of the NHS.
The Pennsylvania Transportation Asset Management Plan (TAMP):
Establishes targets for NHS pavement and bridge condition
Summarizes Pennsylvania's inventory of NHS pavement and bridge assets by structure type, class, owner, and condition
Forecasts NHS asset condition by year for at least a 12-year planning horizon at current funding levels
Outlines PennDOT's asset management practices, which are integrated into long-range planning, project programming, financial planning, and risk assessment processes