This section provides examples of “emerging,” “strengthening,” and “advanced” practices for using asset value and measures related to asset value to help support TAM. In the table, an emerging practice is one that supports the guidance with minimal complexity, an advanced practice illustrates a “state of the art” example in which an agency has addressed some aspect of the asset value calculation in a comprehensive manner, and a strengthening practice lies between these two levels.
This section provides examples of “emerging,” “strengthening,” and “advanced” practices for using asset value and measures related to asset value to help support TAM. In the table, an emerging practice is one that supports the guidance with minimal complexity, an advanced practice illustrates a “state of the art” example in which an agency has addressed some aspect of the asset value calculation in a comprehensive manner, and a strengthening practice lies between these two levels.
Asset value is reported in agency documents, including financial reports and the agency’s TAMP, but approaches used in different documents may be inconsistent.
Asset value is reported in agency documents, including financial reports and the agency’s TAMP. Discrepancies between different estimates are documented.
Asset value is reported in a consistent manner in different agency documents, including financial reports and the agency’s TAMP. Multiple approaches for reporting value are used as needed to maintain consistency between documents while satisfying reporting requirements.
The cost to maintain current asset value is calculated using annual depreciation and reported in the agency’s TAMP.
The cost to maintain current asset value is calculated using the agency’s management systems. The cost to maintain and ASR are reported in the agency’s TAMP.
The cost to maintain current asset value is calculated using the agency’s management systems. The cost to maintain and ASR are reported in the agency’s TAMP. The cost to maintain and ASR are reviewed when establishing asset investment levels.
Needed funding is reported in the agency’s TAMP. Needed funding is assumed to be equal to the cost to maintain current value.
A separate analysis is performed using the agency’s management systems to support the calculation of the funding needed to achieve and maintain the agency’s desired state of good repair.
A separate analysis is performed using the agency’s management systems to support the calculation of the funding needed to achieve and maintain the agency’s desired state of good repair. Needed funding is considered in establishing asset investment levels.
Asset value is reported by asset class and system in the agency’s TAMP or supporting documents.
Asset value and supporting measures such as the cost to maintain current condition, ASR, AFR and ACR are reported by asset class and system in the agency’s TAMP or supporting documents.
Asset value and supporting measures such as the cost to maintain current condition, ASR, AFR and ACR are reported by asset class and system in the agency’s TAMP or supporting documents. Information on asset value and related measures is used to support decisions concerning the allocation of funding between asset class and system.
The NPV of different potential life cycle strategies is explicitly calculated when selecting asset life cycle strategies.
The NPV of different potential life cycle strategies is explicitly calculated when selecting asset life cycle strategies. Asset value is used as a component of life cycle cost, such as for quantifying the residual value at the end of the analysis period.
The NPV of different potential asset life cycle strategies is explicitly calculated when selecting strategies. The calculation includes relative impacts to travelers and society for different life cycle strategies, such as changes in travel time or operating costs.
The overall value from an agency’s assets is calculated to help establish the overall value of the assets to travelers and society.
The overall value from an agency’s assets is calculated. The calculation considers changes value related to asset age or condition.
The overall value from an agency’s assets is calculated. The calculation considers changes value related to asset age or condition. Further, the calculation is used to support decisions about agency investments in relevant applications such as selecting resilience investments.