Valuing Pavement Network Assets and Use of Values as Decision Supports

Abstract

The value of an asset, the worth calculated using a specific valuation method and perspective, can be utilized to justify and support asset management decisions. The value of a public asset is an indicator that can help establish the accountability of managing agencies to asset owners and can be used in the justification of funding needs. The value of a pavement network helps the tax-paying public (owners) understand how well their pavements are being maintained. Asset values can be included in the management system framework used for managing particular assets. Besides agency’s accountability and justification of funding needs, pavement network values can be used as indicators showing the network’s performance in providing intended services. The objective of this paper was to discuss appropriate methods and perspectives of valuation for a pavement network and incorporate network values in management system framework to evaluate funding alternatives. Using appropriate network level analyses, the paper demonstrates asset valuations using selected techniques and perspectives, and the impacts of management strategies on network values.