A Multi-Objective Asset Management Approach to Evaluate Maintenance Strategies for Funding Allocation
Chang, Carlos M.
Smith, Roger E.
Tan, Sui G.
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Modern asset management aims to provide the user's expected level of service in the transportation infrastructure assets in the most cost-effective manner while also accounting for broader social and environmental impacts. The decision-making process is complex due to many potential conflicting goals that need to be balanced in the final solution. This paper describes a holistic multi-objective asset management approach to integrate environmental related measures with traditional performance measures. A robust framework for managing infrastructure assets is proposed for implementation, and a case study focused on asphalt concrete (AC) pavements demonstrates its applicability, evaluating various maintenance strategies from a multi-objective perspective. The case study shows that timely applied preservation leads to lower emissions and lower fuel consumption. In the example, savings estimates of 662,310,738 kg CO2 over a 20 year period that are equivalent to $31 million in social costs for a 940 mile network. By considering economic, environmental, and social impacts; the multi-objective asset management approach improves the decision making process and contribute to better balanced funding allocation decisions when developing maintenance strategies.