Managing Infrastructure Assets

 Asset management has been described as ”a systematic process of maintaining, upgrading, and operating physical assets cost-effectively. It combines engineering principles with sound business practices and economic theory, and it provides tools to facilitate a more organized, logical approach to decision-making. Thus asset management provides a framework for handling both short- and long-range planning“ (US, Department of Transport (DOT), 1999).

This document describes the fundamental concepts, components, and considerations inherent in an asset management plan as a municipal best practice. 

Managing Infrastructure Assets