The TAMS will our primary transport asset planning tool to ensure that we can manage the highway infrastructure and public realm sustainably and in a way that underpins the wider objectives in the Corporate Plan.
A succinct definition of asset management is provided in the recently published BS ISO55000:2014 (Asset Management) as:
Asset management enables and organization to realize value from assets in the achievement of its organizational objectives
A useful guide for Members has also been produced by the Highways Maintenance Efficiency Programme (HMEP) which provides a briefing on the benefits of asset management.
In the context of our role in managing the highway infrastructure within the borough the TAMS fulfils the following functions:
- It sets out the contribution to wider objectives in the Corporate Plan, the Local Transport Plan and other strategies and plans at the local, regional and national level through the prioritisation of investments in maintenance of the highway infrastructure.
- It establishes our approach to prioritising, mitigating and managing critical risks associated with the highway network and ensuring that the network is resilient to major incidents such as extreme weather.
- It identifies, and where possible, quantifies the long term strategic transport asset planning risks that will affect the ability to deliver highway services in a sustainable fashion. These risks include construction price inflation, climate change and continued reductions in Central Government funding and strategic actions that are needed to mitigate or manage these.
- It identifies the most cost effective way of achieving all of the above using forecasting models that enables us to select investment strategies and allocations to different maintenance activities that will minimise costs over the long term.
- It will form the basis of future LTP funding, as the Government expects local authorities to have such strategies and plans in place to justify bids.
For resilience network please see Gritting Routes.