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Assess Benefits Realized from TAM
• It’s difficult to communicate the value of an asset management approach to the public.
• In many cases agency leaders and stakeholders, including the public, may not see discernable benefits from TAM, reducing support for a preservation-focused investment strategy and/or improved systems and data required to support a TAM approach.
• Research has been performed in the past regarding how to calculate the return on investment (ROI) of TAM systems and how to communicate the value of preservation. Also, private sector entities use a separate set of approaches for evaluating the benefits of providing transportation as a concession.
• Additional research is needed to quantify the benefits of TAM generally, and incorporate consideration of other factors such as sustainability, equity, resilience, etc.
Literature Search Summary
• NCHRP Synthesis 330, Public Benefits of Highway System Preservation and Maintenance
• NCHRP Report 742, Communicating the Value of Preservation: A Playbook
• NCHRP Report 866, Return on Investment in Transportation Asset Management Systems and Practices
• TCRP Report 206, Guidance for Calculating the Return on Investment in Transit State of Good Repair
Develop a framework and guidance for calculating and communicating the overall benefit of improved asset management approaches to transportation agencies, transportation system users, and society of improved asset management approaches. The framework should address monetized benefits, as well as issues such as equity, sustainability, and resilience. Illustrate use of the framework and examples through a set of pilot studies of U.S. agencies.