What is Asset Management?
Transportation Asset Management (TAM) is defined as a strategic and systematic process of operating, maintaining, upgrading and expanding physical assets effectively throughout their lifecycle. It focuses on business and engineering practices for resource allocation and utilization, with the objective of better decision-making based upon quality information and well-defined goals.
The primary focus of TAM is to minimize the life-cycle costs for managing and maintaining transportation assets, including roads, bridges, and roadside features. Asset Management principles support the strategic process of resource allocation that uses a risk and performance-based approach to maintain and preserve the condition of physical assets.
SCDOT's Approach to Developing Agency's first Transportation Asset Management Plan (TAMP)
The Moving Ahead for Progress in the 21st Century Act (MAP-21) requires states to develop a risk-based asset management plan for roads on the National Highway System to improve or preserve the condition of the assets and the performance of the system. Subsequent federal legislation and rules expanded on the asset management plan's requirements. SCDOT's Initial Draft TAMP has been developed in a collaborative effort with the South Carolina's Division Office of the Federal Highway Administration (FHWA). The plan is designed to not only satisfy federal rulemaking, but is SCDOT's foundational planning document used to define the agency's system investment priorities and corresponding 10-year performance estimates for all state maintained roads and bridges.
Integrating TAM into SCDOT's Business Practices
Initial efforts to integrate TAM with existing SCDOT practices have been successful and will continue to evolve as data, processes, and coordination efforts mature. An example of integration includes the use of TAM to define annual budgets in the latest State Transportation Improvement Program (STIP). TAM also supports the primary goals of the agency's Strategic Plan by promoting the most efficient use of limited resources to extend the life of the state's transportation infrastructure. In addition, SCDOT's Initial Draft TAMP has become a prominent resource for communicating existing infrastructure conditions and projected performance targets for SCDOT's physical assets over the next decade.
Federal Rules require states to complete and submit an Initial TAMP for FHWA review by April 2018 and a Final TAMP by June 2019. SCDOT expects to finalize and submit its Initial TAMP in spring 2017. Please check back for a link to the Initial Tamp once approved by FHWA.
SCDOT is concurrently moving forward to implement Performance Management by assessing the needs of the agency's transportation system and preparing to set performance targets in the remaining national goal areas of safety, freight, congestion and project delivery.
Available Presentations and Reports