Economics in Asset Management
The New York Experience

What's Next?

In 2003, NYSDOT is undergoing a major transformation in how it measures and accounts for its performance. This transformation responds to three primary factors shaping the department's future: trade, technology, and traffic. The North American Free Trade Agreement and other international trade agreements have significantly increased the volume of goods traveling to and from the Northeast to all points of the globe. Similarly, the e-commerce and technology revolution is changing trading patterns by virtue of the information available in the supply chain. Finally, traffic continues to grow, fueled by trade, technology, and the general rise in economic well-being of the citizens of New York State.

To facilitate its renewed focus on performance and accountability, NYSDOT's executive management has directed that TAM principles will be used to guide all transportation infrastructure investment decisions. Results in five areas will be used to gauge the department's accountability to its customers: mobility and reliability, safety, economic sustainability, security, and environmental stewardship. The five areas will be reflected in future versions of NYSDOT's management and economic tools.