Guide to Asset Management Part 1: Introduction to Asset Management
This document introduces the Austroads Guide to Asset Management, the aim of which is to offer guidance on how to best manage physical road infrastructure. The Guide covers various aspects of asset management including how to determine and plan to accommodate stakeholder/community expectations, formulate and review asset strategies, develop works programs, assess asset performance and undertake asset valuation and audit. Whilst the focus of the Guide to Asset Management is on the management of the physical road assets, the importance of total transport system management, which covers all activities concerned with the provision, operation, maintenance, renewal and disposal of transport infrastructure assets, is duly recognised. Road asset owners and managers are therefore encouraged to adopt a comprehensive range of coordinated activities, from transport planning, through design, implementation and operations in order to maximise community benefits. The Guide complements the Austroads Publication AP-R202/02 Integrated Asset Management Guidelines for Road Networks, which describes in detail the integrated asset management planning processes and recommended implementation stages aimed at achieving business improvements within road agencies.