Asset Management, as defined by the Ohio Department of Transportation, is a systematic and strategic investment decision process for operating, maintaining, upgrading and expanding physical assets effectively over their life cycle that is based on quality data and well-defined objectives.
The Ohio Department of Transportation has over $116 billion dollars' worth of assets which make up Ohio’s transportation system. Transportation asset management (TAM) will play a critical role in the planning, development, preservation, and construction of Ohio’s transportation system. The purpose of TAM as a business process is to provide a vital contribution to the economic health of the state of Ohio by leveraging its critical assets for the safe and efficient movement of people and goods. The TAM process will support the Department’s decision making in providing a safe, affordable, and high performing transportation system through optimal resource allocation. ODOT is a three billion dollar enterprise, and as such, it is important to account for its assets in terms of location, value, and condition in order to make fiscally responsible strategic decisions.
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