Title: US experiences with asset management: adapting to extreme events and associated risks
Abstract: The Federal Highway Administration (FHWA) continuously seeks innovative ways to improve the management of the United States' highway infrastructure. The use of risk management among U.S. transportation agencies largely is limited to managing risk at the project level, generally focusing on the construction stage. Risk management helps to identify threats and opportunities to a project's cost, scope and schedule. The authors are currently expanding our knowledge and understanding of risk management to include it at the program and organizational levels. FHWA has recognized how important it is for highway agency officials to incorporate risk management into their decision-making, and has undertaken efforts to share good practices and advance the use of risk management by the agencies responsible for managing and operating the nation's road network. Following is a description of FHWA's efforts as well as some of the events that have yielded insights that allow the authors to refine their approach to risk-based asset management. The ultimate goal of this work is to ensue the quality and reliability of the road system throughout the United States.
Publication Year: 2014
Publication Date: 2014-01-01
Language: en
Type: article
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