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Title: Risk Concepts and Applications in Transportation Asset Management:
An Overview of Current Practice
Accession Number: 01363058
Record Type: Component
Abstract: Transportation Asset Management (TAM) systems are in place and evolving at many transportation agencies. Key functions of these systems include inventorying and monitoring the condition of infrastructure assets, predicting performance and prioritizing projects. Risk appraisal, which is comprised of both risk assessment and risk management, is incorporated in some of these systems. This paper reviews risk applications in TAM. The agencies analyzed in range from local agencies, such as municipalities, to state and national agencies. Results of the review show that risk applications, such as scenario and sensitivity analysis, probabilistic risk analysis, simulation and Markov chains, can be found in TAM functions such as project prioritization and performance prediction, to allow for more strategic investments that consider the highest risks together with other important decision criteria.
Supplemental Notes: This paper was sponsored by TRB committee ABC40 Transportation Asset Management
Monograph Title: Monograph Accession #: 01362476
Report/Paper Numbers: 12-3768
Language: English
Corporate Authors: Transportation Research Board 500 Fifth Street, NW Authors: O'Har, John PatrickAmekudzi, AdjoMeyer, MichaelPagination: 16p
Publication Date: 2012
Conference:
Transportation Research Board 91st Annual Meeting
Location:
Washington DC, United States Media Type: Digital/other
Features: Figures; References; Tables
TRT Terms: Subject Areas: Administration and Management; Planning and Forecasting; Transportation (General); I72: Traffic and Transport Planning
Source Data: Transportation Research Board Annual Meeting 2012 Paper #12-3768
Files: TRIS, TRB
Created Date: Feb 8 2012 5:19PM
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