The long awaited Guidance Document for Highway Infrastructure Asset Valuation was launched this summer. As a guidance document it is to be commended as a well presented introduction to the topic. The endorsements that the document contains are impressive, although there are notable.exceptions. Unfortunately the guidance does fall short of being a manual which the uninitiated can follow to achieve the ultimate deliverable of an Asset Valuation which will stand up to external audit. As an initial read the well defined terminology and high level presentation leave the reader with a potentially misplaced degree of confidence. As with any subject of this nature the devil is in the detail. While the fundamental topics are all identified and many issues raised, more problems than solutions are actually generated or ignored. While the document describes itself as a "step by step procedure" there are many gateways along the path to valuation for which more precise guidance could have been provided.
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