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"We provide data to all of the area's communities, helping them to prioritize their projects, says Carmine Palombo, Transportation Director for SEMCOG. "It helps in decision-making and prioritizing how to spend scarce funds. When the process is fully implemented, we will be able to show decision-makers how much money needs to be spent each year to maintain a certain level of road surface condition."
In Michigan, asset management is defined as "an ongoing process of maintaining, upgrading, and operating physical assets cost-effectively, based on a continuous physical inventory and condition assessment." Asset management consists of a set of business principles and practices for improving resource allocation decisions. It requires a shift from a traditional tactical project management approach to a strategic, comprehensive systems management concept.
Act 499 of the State of Michigan Public Acts of 2002 encourages all agencies that spend state transportation funds on roads and bridges to implement an asset management approach under the leadership and oversight of Michigan's Transportation Asset Management Council (TAMC).
View MDOT video - "Asset Management at Work"