TAM is important because of the size and value of the infrastructure that has been built. The total value of the existing inventory of U.S. transportation assets is staggering; based on data from FHWA Highway Statistics, the replacement value of U.S. bridges and pavement alone is over $5 trillion. TAM offers a set of tools and techniques applicable to sustain the condition and performance of the full range of transportation assets.
TAM has been a focus area for DOTs in the U.S. for over 15 years, paralleling similar efforts to improve asset management in infrastructure-intensive industries in the U.S. and abroad. Over this period, transportation agencies have worked to increase their understanding of the value and performance of existing assets; and implement improved asset management systems and approaches.
This guidance responds to the new challenges that have emerged since TAM was first recognized as a critical area in the U.S. transportation community such as: evolving business practices, technology advancements, constrained funding, changing environment, and legislative requirements.