Transportation Asset Management

Definition of asset and asset management; asset management systems: definition, attributes, components, goals and objectives, benefits; consequences of poor asset management. Transportation assets: physical plant, equipment, real estate, employees, customer goodwill, investments, funding sources. Valuation and preservation of value: replacement asset value vs. depreciated asset value; minimizing real depreciation, maintaining asset value. Direct vs. indirect revenues; balance sheets: assets and liabilities, revenues and expenditures, return on investment; cash flow and income statements; depreciation schedules. Life-cycle cost analysis. Applications to road, rail, airport, port, bridges, buses, trains, utilities, human resources, etc., with student projects and presentations.