Best Practices in Selecting Performance Measures and Standards for Effective Asset Management

摘要

This report assesses and provides guidance on best practices in performance measurement, management and standards setting for effective Transportation Asset Management (TAM). The study is conducted through a literature review, a survey of the 50 state DOTs, an internal assessment of Georgia Department of Transportations TAM capabilities and performance measurement and management procedures, and a review of risk applications in TAM with a case study demonstrating the impacts of uncertainty on project prioritization. The study isolates three generations of agencies as far as performance management is concerned. The study recommends conducting a review of GDOTs performance measurement and management process and procedures using current standards; benchmarking against similar and more mature state agencies; developing metrics for evaluating progress toward strategic goals; linking performance metrics with resource allocation decisions; developing analytical and data capabilities for evaluating tradeoffs in resource allocation decision making; refining measures for use in broad agency functions; refining performance communication tools; addressing uncertainties in performance metrics and management in TAM, and upgrading existing performance procedures and capabilities to meet state audit requirements.