Evaluation of near-transportation private sector asset management practices

Abstract

The focus of the transportation industry, both in the public and private sectors, has slowly been changing from construction and expansion to that of preservation because of various factors. The private sector industries have made strides in asset management that would be beneficial to the public sector. The purpose of this research is to identify private sector asset management principles and concepts that could form an integral part of any asset management program employed by state transportation agencies, public sector entities, and especially the state DOT's. The core of this report consists of an overview of case studies in asset management in the private sector. Based on the synthesis of case studies "lessons learned" are identified. This analysis was completed by carefully examining the asset management practices of seven private sector companies in the infrastructure industry. Included are case studies from two railroads, two airlines, two energy companies and one shipping company. The case studies highlighted the need for communication, tools and education, and an information technology foundation from which asset management can be practiced effectively.