Developing a risk-informed decision making framework is crucial to address two major aspects of managing road networks. The first is the development of deterioration models to capture physical deterioration trends based on various road attribute combinations. The second is the development of an optimization process for capital planning that integrates lifecycle cost analysis, risk analysis, effectiveness of maintenance and rehabilitation technologies, network effects, cross-sectoral interactions, and strategies for asset inspection with dynamic model updating. This session discusses techniques for performance modeling and risk-informed decision making methods with a focus on municipal pavement assets. Canadian municipal case studies are presented to show the effectiveness of the methods presented and to discuss real-life implications.