Asset Management Guide: Focusing on the Management of Our Transit Investments [October 2012]

To advance transit asset management, this guide provides a transit-specific asset management framework for managing assets indi-vidually and as a portfolio of assets that comprise an integrated system. The guide provides flexible, yet targeted guidance to advance the practice and implementation of transit asset management. Objectives: Explain what transit asset management is and what the business benefits to an agency are; Provide an enterprise asset management framework and business model that agencies can refer to as “best practice”; Describe the elements of transit asset management plan; Detail, for each major asset class, the major enabling components of asset management: inventory, condition assessment, performance analysis and modeling, risk management, and lifecycle cost management; and, Guide organizations through the migration from their current baseline to high-performance asset management.