Checklist
Preparing a TAM Financial Plan
This checklist summarizes the basic steps involved in preparing a TAM financial plan. Note this guidance is based on NCHRP Report 898, and this resource has additional details on each of the steps described here.
Identify and Document Sources and Uses
- Determine the scope of the TAM program
- Establish sources of funding
- Establish funding uses
- Structure the list of sources and uses
- Validate the list
- Document constraints on uses of funding
- Document assumptions concerning the allocation of fixed costs
Forecast Revenues and Expenditures
- Establish roles and responsibilities for revenue forecasting
- Review prior revenue forecasts
- Forecast revenues
- Forecast non-asset management uses
- Determine available funding for asset management
- Document key assumptions
Develop Investment Strategies and Scenarios
- Define investment scenarios
- Identify current and planned projects
- Use management systems to predict future conditions
- Perform initial budget allocation
- Identify candidate projects
- Select projects
- Revise prediction of future conditions
- Finalize funding levels by use
- Perform gap assessment
- Document assumptions and investment strategies
Calculate Asset Value
- Obtain the value calculate for financial statements
- Calculate depreciated replacement cost
- Compare alternative methods for valuation
- Document the calculation using the preferred method
- Incorporate asset value into the financial plan
7.3.3 Preparing Data for Sharing, Reporting and Visualization
Checklist
Preparing Data for Sharing, Reporting and Visualization
Establishing a standard process to prepare data for sharing, reporting and visualization can make sure that data is publication-ready: quality checked, tested and documented. A standard data preparation process should be used before moving data to any official reporting source – whether it is a data warehouse, a geodatabase, or a file uploaded to an open data portal.
Is the data derived from a designated authoritative source system?
Have data quality checks been applied?
Has metadata for the data set been prepared, including explanation of the data source, date of last update?
Is an individual or business unit identified for data users to contact for further information?
Is an individual or business unit identified for reporting database or system managers to contact regarding any issues that arise?
Has metadata for the data elements included been prepared (data dictionary)?
Has the metadata been reviewed for completeness and quality?
Has a data owner or steward signed off on the data publication?
7.2.3 Asset Data Collection Readiness Checklist
Checklist
Asset Data Collection Readiness Checklist
Agencies can use this checklist when adding a new asset to the data collection, data management, and data governance processes. Addressing the items in this checklist will ensure that information about the asset is collected, used and updated efficiently and effectively within the agency.
Has asset owner or steward been identified?
What asset category/type does this asset belong to?
What is the precise definition of this asset?
What are the asset’s components?
What are the units of measure for the asset?
Has a data dictionary of attributes for this asset been developed?
Who will use the data about this asset and how?
Which attributes are needed to meet state or federal requirements?
What method(s) will be used to collect inventory data for this asset?
Will the data collection method and accuracy be included in metadata?
What method(s) will be used to update inventory data for this asset?
Have the data collection and updating technologies been investigated?
Have the data collection manuals and other training materials been created?
What method will be used to uniquely identify this asset?
What method will be used to identify this asset’s location?
Will this asset be represented in GIS as a point, line or polygon?
What method will be used to synchronize this asset’s location with the agency’s official linear referencing system?
Is there a plan for data sharing and reporting?
For example, including the new data in an agency data warehouse or GIS portal?
How will this asset’s condition be assessed and described?
What system(s) will store inventory and condition data for this asset?
What types/categories of treatments are applicable for this asset?
What are the units of work accomplishment for these treatments?
What system(s) will store information about needs, planned work, and completed work for this asset?
How will different agency and external users obtain data about this asset, its condition, needs, planned work, and completed work?
Who is the point of contact for answering questions about data for this asset?
7.1.3 Data Items to Standardize for TAM
Checklist
Data Items to Standardize for TAM
Consider establishing standard definitions, code lists, and formats for the following items.
Location of assets, projects, and maintenance activities.
- Spatial (X,Y)
- Linear reference
- District/region, city/county
Asset ID.
- A shared, unique identifier for an asset
Project ID.
- A shared, unique identifier for a project, ideally maintained from “cradle to grave”
Asset Category/Type.
- Based on an adopted agency naming convention
Asset work type.
- A common set of categories for describing types of maintenance, repair, rehabilitation or replacement work performed.
- Ideally these are hierarchical, enabling roll-ups from detailed work types to shared work categories that can be used for reporting across asset types.
Asset Inventory units of measure.
- Common inventory units include linear feet, square feet, ‘each’ and miles.
Asset Work units of measure.
- These may be similar to inventory units but include things like tons of asphalt patching.
Resource types and unit costs.
- Labor
- Equipment
- Materials
- Contracts
Project-Asset Linkage.
- To identify which assets were included within a project
Maintenance Activity-Asset Linkage.
- To identify assets (and quantities) were included within a maintenance activity
Work Status.
- Proposed
- Planned/programmed
- In progress
- Complete
- Open to traffic
Timeframe for work completion.
- Multiple levels of granularity as needed for planning and reporting
Costs.
- Standard methods of accounting for inflation
- Inclusion of ancillary costs such as construction engineering or traffic control
- Ability to compare estimates across systems
File naming conventions.
- For linking standard documents to asset information
File formats.
- Design data
- Multimedia data
6.5.3 Risk Management Process
Checklist
Risk Management Process
The successful monitoring and enhancement of a risk management process or other TAM business processes requires a concerted and coordinated effort throughout the organization. To help ensure success, agencies can consider the following important factors.
Do you have a structure with clear roles and responsibilities that are coordinated across the agency?
- The roles and responsibilities required to support a TAM program will change over time as the agency matures. Initially, an agency may start with a small, concentrated team of individuals supporting TAM, but as the process is embedded in the agency’s practices, the number of involved team members may grow.
- TAM is a cross-disciplined practice that requires strong coordination and a clear strategy to keep everyone aligned.
Do you have the right resources to implement your plans and programs?
- A lack of available resources can cause the implementation of TAM to fail, so ensuring that the right resources are available may require the support of upper management.
- The implementation of risk management and TAM often require changes in the way an organization is doing business, so training programs may be needed to ensure staff can be effective and that they have confidence in making the changes necessary.
6.5.1 Monitoring External Considerations in Risk
Checklist
Monitoring External Considerations in Risk
In the early stages of risk management, transportation agencies tend to focus primarily on identifying and monitoring internal risks that are within the agency’s control. However, agencies should also monitor external considerations that may influence agency risk, including those listed below.
How will changes in technology impact the way transportation agencies operate in the future?
What political or social trends are impacting the way we manage our transportation network?
Is the frequency or intensity of weather events impacting the performance of our transportation network?
As an agency, are we dependent on external sources to provide critical information for managing the network?
Are trends in financial models indicating that revenue for transportation will be impacted dramatically in the next several years?
Are there indications that regulatory or legal compliance issues are changing?
As an agency, are there changes in the available workforce that will need to be addressed?
Are there trends in contractor or vendor practices that could impact our ability to deliver our program?
Are there changes in travel demand that are impacting the way the transportation system is managed?
6.1.1 Characteristics of Strong Performance Measures for Managing the Condition of Ancillary Assets
Checklist
Characteristics of Strong Performance Measures for Managing the Condition of Ancillary Assets
In September 2018 a peer exchange was held in Nashville, TN, for maintenance personnel under NCHRP 20-44(05). A total of 45 practitioners representing 27 state DOTs, industry, and the Transportation Research Board (TRB) participated in the peer exchange. Based on the information discussed during the meeting, successful performance measures for managing infrastructure assets other than pavements and bridges should have most of the following characteristics.
They should be linked to agency policy objectives.
As discussed in Chapter 4, they should be linked to the management approach selected for that asset.
They should provide meaningful information that helps drive maintenance decisions related to investment priorities.
They should link budgets and performance.
They should clearly convey changes in impacts due to differing funding levels and investment strategies.
They should link program decisions to project outcomes.
They should be measured consistently, collected economically, and updated regularly.
They should be part of an agency’s routine business processes and supported by management systems or other analysis tools.
They should provide managers with information needed to understand problems and suggest solutions.
5.4.2 Work Planning and Delivery
Checklist
Work Planning and Delivery
This checklist provides the factors agencies should consider during the resource allocation process to leverage opportunities for improved work planning and delivery. From project-level and agency-level issues, to public policy and life cycle issues, these factors are key to improving work planning and delivery. As a result, agencies may be able to make more efficient and effective resource allocation decisions.
Project-Level Issues
- Project Size
- Cost
- Schedule
- Risk Management
- Risk Allocation
- Requirements for Sustainable Design Criteria
Agency-Level Issues
- Agency Experience
- Staffing Required
- Staff Capability
- Agency Goals and Objectives
- Agency Control of Project
- Third-Party Agreements
Public Policy/Regulatory Issues
- Competition
- DBE Impacts
- Labor Unions
- Federal/State/Local Laws
- Federal/State Regulations
- Stakeholder/Community Input
Life Cycle Issues
- Life cycle Costs
- Maintainability
- Sustainable Design Goals
- Sustainable Construction Goals
Other Issues
- Construction Claims
- Potential for Adversarial Relationships
4.3.3 Considerations to Support the Successful Implementation of a Life Cycle Approach to Managing Assets
Checklist
Considerations to Support the Successful Implementation of a Life Cycle Approach to Managing Assets
The following checklist is provided to support efforts of implementing life cycle management of transportation assets. It can be used to help an agency assess whether future changes to policies, data, or business processes could advance the maturity of its life cycle management practices. This checklist should be completed for each asset within, or under consideration for inclusion in an agency’s asset management program.
Have stakeholders been identified for establishing customer-based levels of service?
Has a communications process been established to understand stakeholder wants?
2.3.3 Ingredients in an Implementation Plan
Checklist
Ingredients in an Implementation Plan
Agencies can use this checklist when developing and communicating a TAM Implementation Plan. Completing the items on this checklist ensures that the key ingredients are included in the Implementation Plan and lays the foundation for successful improvement.
Have owners been assigned to the individual improvement items?
Have the benefits of change been identified?
Have tasks in the implementation plan been prioritized based on potential benefit to the asset management processes?
Do the prioritized improvement items consider whether the supporting processes have been developed?
Have the relevant stakeholders been identified?
Have timelines for change been specified and agreed to between those undertaking and implementing the task?
Have risks such as interdependencies with other tasks been identified and a mitigation strategy agreed upon?
Is the level of effort quantified and agreed upon?