Transportation asset management is a strategic business model that preserves transportation assets in a state of good repair condition at the lowest lifecycle cost. It requires inventorying assets and condition to make informed data-driven decisions that can be measured against performance standards.
Many transportation agencies have successfully adopted this practice to more cost-effectively preserve their existing assets.
Federal law and regulations require state transportation departments to have a Transportation Asset Management Plan and to set condition targets for bridges and pavement on the National Highway System. The regulations also require FHWA Division Offices to issue an annual consistency determination on each state's TAMP and afirm that the state has demonstrated implementation of their respective TAMP.