Performance-Based Decision Making for Asset Management: Lessons Learned and Practitioner Toolkit summarizes current practices, describes lessons learned by pioneering Canadian agencies, and presents a toolkit of ways for practitioners to make better asset management decisions. It was authored by MORR Transportation Consulting and can be downloaded from TAC’s website as a free PDF.
As agencies face fiscal restraints and commit to greater accountability, the emerging field of performance-based decision making allows them to compare the value of investments in different types of assets. It enables them to make more transparent choices in long-range plans and annual budgets, such as when dividing funds among projects to resurface roads, rehabilitate bridges or replace culverts. However, agencies need more information, including practical tools and case studies, to improve their performance-based decision making.
“This project highlighted how transportation agencies can adopt performance-based methods to improve asset management and fiscal responsibility. The processes, techniques and recommendations conveyed in the report will support agencies’ strategic goals, and the toolkit will help them put applications from the report into practice,” according to Dr. James Smith of Good Roads, who co-chaired the project steering committee with Michael Bateman of the British Columbia Ministry of Transportation and Infrastructure.