1.2.2.2 Self-assessment

The self-assessment’s aim is to benchmark the current asset management practices of the organization and identify specific opportunities for improvement (Cambridge Systematics et al. 2002). The main objectives of self-assessment include the following:

• Develop a consensus among managers within the organization about the status of asset management.
• Assist the organization in identifying asset management strengths, weaknesses, constraints, and opportunities for improvement.
• Develop priorities and recognize critical areas that need immediate attention.
• Provide a foundation for implementing the organization’s improvement strategy for asset management.

One of the most important steps in implementing asset management is to identify the organizational policies and goals to be achieved, which will define the agency’s most important priorities. Asset management is a customer-focused, goal-driven management and decision-making process. Organizational goals, policies, and budgets establish a consistent evaluative philosophy. Goals and performance measures are the levers that drive the decision framework, establishing investment scenarios that reflect levels of service and making resource commitments consistent with the perceived needs of stakeholders. Analysis procedures regarding alternative options are used within this framework (FHWA 2012).