2.4.5 Decision making for lifecycle planning

The decision-making process to select the investment strategy should align with the approach to asset management and, in particular, provide the most efficient and affordable way of achieving the performance requirements. Typically, the selection of maintenance strategies considers the following:

• Minimizing whole-life costs
• Meeting legal requirements
• Managing risk

A number of techniques may be used to select the right investment strategy, some of which are listed below. The International Infrastructure Maintenance Manual (IIMM, 2015) also gives advice on these decision-making techniques.