The consequences of infrastructure asset failure can be costly. To inform appropriate care—and prepare for the inevitable decay that comes with age—municipalities should understand the discernible life cycle of their various assets. Equally as important, proactively addressing cost-of-ownership considerations, such as maintenance and repair, can drastically extend an asset’s service life.
Infrastructure asset management can improve decision-making for infrastructure acquisition, planning, design, construction, operation and maintenance, and renewal or replacement. Effective asset management can also help preserve and extend the service life of long-term infrastructure assets, all while maintaining a low cost of ownership.