A Multi-Objective Asset Management Approach to Evaluate Maintenance Strategies for Funding Allocation

Abstract

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.