What is asset management?
Asset management is a strategic approach to maintaining the highways network. It is recognised as industry best practice and in keeping with Government guidance.
The aims of using an asset management approach are to:
- maximise value for money, optimising the value of highway assets over their life (Whole Life Cost)
- manage risk so the highway environment is safe, secure and accessible
It’s about balancing costs, investing in long term maintenance to prevent expensive short-term repairs, making sure roads stay in the best possible condition, without wasting resources.
We follow an Asset Management approach for our maintenance as outlined in the Highway Asset Management Policy, Strategy and Plans.
To achieve this, we need to keep track of what condition our roads are in, figure out when parts need to be fixed or replaced, and decide how to spend money wisely to avoid bigger, more expensive problems in the future.