What does road asset management mean?
Road asset management is a comprehensive and structured approach to the delivery of community benefits through long-term management of road networks. Road asset management has been described as a systematic process of maintaining, upgrading and operating physical assets cost-effectively, combining engineering principles with sound business practices and economic theory, and providing tools to facilitate an organised logical approach to decision making. The World Road Association has defined asset management as a systematic process of effectively maintaining, upgrading and operating assets, combining engineering principles with sound business practice and economic rationale, and providing the tools to facilitate a more organised and flexible approach to making decisions necessary to achieve the public’s expectations. Refer to the ‘What is Asset Management’ page for the eight elements of road asset management. In summary, the practical challenge in road asset management is to find an acc
