Transit asset management is a strategic, systematic process of operating, maintaining, and improving transit facilities and vehicles (i.e., assets) in a cost-effective manner throughout each asset's useful life. Sound asset management policies guide transit agencies in making well-founded investment decisions to ensure that their systems provide the highest quality customer experience (in reliability, speed, and comfort), while guaranteeing safe, secure, and economic performance.
To meet these objectives, asset management practices must consider the full life-cycle costs of each asset, as well as the performance expected from that asset. Asset management practices involve the monitoring and analysis of transit investments and tracking of asset conditions. They require effective measurement tools and methodical asset condition ratings, often assisted by asset management software. Optimally, every transit system asset should be maintained in a state of good repair.
IEI has applied sound asset management principles in all aspects of the firm's work. In doing so, we have helped transit agencies throughout the country assess and improve their fleets and facilities and have enabled them to make sound strategic investments in transit assets. These initiatives have helped transit agencies work toward their goals of state of good repair and improved safety and service quality.