Transportation Asset Management Case Studies
Data Integration: The Virginia Experience
Is It Worth It?
By 2006, VDOT expects a 15 percent return on its investments in the Asset Management System. |
According to its project charter, the Asset Management System will "enable VDOT to more efficiently and effectively manage roadway assets." Based on the results of a cost-benefit analysis of the Asset Management System, VDOT expects a 15 percent return on investment by 2006. This rate of return is possible because the system will enable VDOT to implement its management strategies:
- Maintain accurate and current inventory and condition data
- Develop statewide maintenance budget requests based on needs identified during a formal condition assessment process
- Plan and prioritize maintenance and operations work based on an understanding of available resources
- Improve the cost-effectiveness of maintenance and operations activities
- Determine the impact of deferred maintenance strategies on network performance and resulting needs
- Maintain a record of work on an asset throughout its life cycle
- Automate aspects of the current maintenance management function that are currently performed manually
In addition, implementation of the Asset Management System will help bring VDOT into compliance with recommendations developed through an audit performed by Virginia's Joint Legislative Audit and Review Commission and a study conducted by the Virginia Auditor of Public Accounts.