INTEGRATION OF TECHNICAL ASSET VALUATION INTO THE ASSET MANAGEMENT DECISION MAKING PROCESS

Asset value is an important decision parameter for road infrastructure assets in the context of asset management and should be considered over the entire life cycle. The use of a technical asset value adds the dimension of asset condition to the consideration and is therefore of even greater importance. A technical asset value can be used as a key performance indicator (KPI) for controlling and for benchmarking in life-cycle management. With the help of a technical asset value, current and planned investments can be compared and the most suitable strategies can be selected.
The international research project TAniA, funded by the federal road administrations of Germany, Austria and Switzerland (D-A-CH), developed and tested a unified assessment framework for the calculation procedure of a technical, condition-based asset value of road infrastructure assets. It was designed for the three D-A-CH-countries Germany, Austria and Switzerland. The use of existing data and information on different granularity levels offers a high flexibility of the developed approach and tries to avoid long-term investigations and implementation efforts. An essential aspect of the TAniA approach is the consideration of the life cycle. Thus, adequate condition prognosis has to be made. Therefore, the development of standard life cycles that allow the use of the approach when a maintenance management system is not available was an essential part of the project.
The following paper presents the assessment framework for the technical, condition-based asset value. Hence, first the methodology and the basic concept are presented. The modeling of the standard life cycles and the correlation between the Technical Asset Value (TAW) and renewal value is then presented. Subsequently, the calculation of the TAW is discussed. In order to be able to compare different maintenance strategies on the basis of the technical asset value, the TAniA effectiveness diagram was developed. This diagram will be discussed before the practical application of the calculation approach on three test sections and a test network as well as the implementation will be addressed.