8. Using Asset Value to Support TAM Decisions

8. Using Asset Value to Support TAM Decisions
Once calculated, asset value and related measures can support a range of applications in transportation asset management. These applications are summarized through a set of six key questions which asset value and related measures may help answer.

Applications of Asset Value

This section summarizes the potential applications of asset value to support TAM. Section 8.1.1 organizes these applications into a set of key questions. Section 8.1.2 details which of the measures presented previously support answering the different questions.

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Guidance for Applying Asset Value to Support TAM

This section provides guidance for using asset value to support the applications summarized in Section 8.1. For each application it discusses pertinent considerations in the asset value calculation, notes relevant issues in interpreting the results, and provides one or more examples of agency practices.

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Practice Assessment

This section provides examples of “emerging,” “strengthening,” and “advanced” practices for using asset value and measures related to asset value to help support TAM. In the table, an emerging practice is one that supports the guidance with minimal complexity, an advanced practice illustrates a “state of the art” example in which an agency has addressed some aspect of the asset value calculation in a comprehensive manner, and a strengthening practice lies between these two levels.