A total of nine case studies were added to Chapter 9 of the guidance. The new case studies, listed in the table below, illustrate the application of different approaches described in the asset valuation guidance, including different perspectives on what value represents, different approaches for calculating initial value, and different approaches for calculating depreciation.

• All fourteen case studies are listed in the revision of Chapter 9: Case Studies.

The research team developed asset value calculation templates for bridges and for ancillary assets. These templates were added as downloadable files to the Guidebook Downloads page. These tools supplement the written guidance within the new case studies and allow readers to use them as resources for doing their own asset valuation calculations.

An Excel spreadsheet for calculating bridge asset value using bridge inventory and condition data and parameters defined by the calculating agency. In addition to calculating replacement value, the template calculates remaining (or current) asset value using two approaches: composite rating and age-based. The template also yields costs to maintain value and asset consumption ratios for each of the three approaches.

• Download the Bridge Value Calculation Template.

An Excel spreadsheet for calculating ancillary asset value using inventory and age data and parameters defined by the calculating agency. This template is intended to be used with assets with limited available data. In addition to calculating replacement value, the template calculates remaining (or current) asset value, cost to maintain value and asset consumption ratio.

• Download the Ancillary Asset Calculation Template.

To improve the accessibility and usefulness of the Asset Value Guide, an audio version of the site was added. This audio version of the guidance covers the nine chapters of the site, as well as the two appendices.

These audio files were recorded using Voicemaker, a platform for converting text files to computer-generated narration.

• These audio files were then embedded at the beginning of each chapter and section.
• The MP3 files can also be downloaded from the Guidebook Downloads page.

The Asset Value Guide is intended to be a resource for transportation industry workers of all backgrounds and experience levels. To improve the guide’s accessibility for readers with little experience with economic analysis or any form of asset valuation, a glossary of key terms was added as a subsection under the “Support Materials” dropdown menu in the banner at the top of each webpage. This glossary includes an alphabetized list of dozens of terms pulled from each of the nine primary chapters of the guide, with a brief definition.

• The Glossary can be found in the “Support Materials” dropdown menu at the top of every page.

To enhance the digital guide’s accessibility, the navigation menus were redesigned to include layers of dropdown menus. This new design allows readers to jump directly to the sections and supplemental materials they are looking for, rather than needing to navigate through multiple pages. This redesign also improves accessibility for pages that were unintuitive to find and were often skipped by readers, such as the appendices.

• Under the “Chapters” section in the banner at the top of every page.

To improve the reader’s experience, new color themes were added to each of the nine main chapters of the guide. These color themes add variation the white, blue, and black format of the original version of the Asset Value Guide and help readers associate the different topics of the chapters with different colors or themes.

• Each of the nine chapters has a new color theme applied automatically.

The revamped search feature includes results from different sections of the guide, not only the main nine chapters. This new system includes guidance from the “Calculation Steps” and the digital appendices. The new search also provides a preview of the key terms appearing within those pages, allowing readers to better assess which sections of the guide are worth exploring in more depth and limit the time wasted searching for the most relevant pages.

• The search feature can be accessed by typing a keyword or phrase in the search box located in the top right corner of each page.

ACKNOWLEDGEMENT OF SPONSORSHIP

This work 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 (NCHRP), which is administered by the Transportation Research Board of the National Academies of Sciences, Engineering, and Medicine.

DISCLAIMER

This is an uncorrected draft as submitted by the research team.

This material is based upon work supported by the FHWA under Agreement No. 693JJ32350025. Any opinions, findings, and conclusions or recommendations expressed or implied in this document are those of the researchers who performed the research and are not necessarily those of the Transportation Research Board; the National Academies of Sciences, Engineering, and Medicine; the FHWA; or the program sponsors.

No warranty is made by the developers or their employer as to the accuracy, completeness, or reliability of this software and its associated equations and documentation. No responsibility is assumed by the developers for incorrect results or damages resulting from the use of this software.

COPYRIGHT

This material and the copyrights therein are owned by the National Academies of Sciences, Engineering, and Medicine.