Road controlling authorities strive to sustain their assets by investing in options that minimise the cost to tax payers or maximize benefits to stakeholders in the long-term. Accordingly, asset valuation and asset performance modelling systems that estimate asset replacement cost and predict asset performance as a consequence of investment and maintenance decisions are used. However, valuation and performance modelling systems are often used as standalone applications, so the true dynamics between investment tradeoffs (maintenance and capital expenditures) and valuation (depreciation) over the long term are not captured. This paper presents the development to date of an integrated asset valuation and condition modelling framework using the dTIMS CT (Deighton Total Infrastructure Management System, Concurrent Transformation) platform. Using local authority assets as an example, the framework is used to investigate the trade-offs between maintenance and depreciation over time. The assets modelled include: bridges, pavement, street lights, drainage, footpaths, pavement markings, minor structure, railings, surface water channels, signs and other traffic facilities such as edge marker posts. As the results described show, the integrated framework would be potentially useful to local authorities involved in developing integrated systems and multi asset management. (a) For the covering entry of this conference, please see ITRD abstract no. 0612AR242E.
Abstract