Implementation of A Guide to Computation and Use of System-Level Valuation of Transportation Assets (2026)
Chapter: 3 Action Plan
3. Action Plan
This section presents an action plan that describes potential activities to advance the asset valuation research developed through NCHRP Project 23-06 and implemented through the effort described in this report. The action plan has been developed with the understanding that the AASHTO Subcommittee on Asset Management will continue to host the website with the digital version of the asset valuation guidance and supplemental materials developed through this effort. Thus, the AASHTO Subcommittee on Asset Management will continue to serve as a key steward for the research. Other potential research stewards include members of the research team, the agencies that participated in the research through the agency pilots, and FHWA. The following paragraphs describe activities that all of the potential stewards of the research can perform, specifying specific parties where applicable.
3.1 Dissemination of Research
The research team recommends that it and other research stewards work together to disseminate the research through presentations at industry conferences and webinars. Members of the research team and pilot participants made presentations on the project at the 15th National Conference on Transportation Asset Management held in August 2025 in Chicago, Illinois. Further, research team members have committed to participating in one or more webinars on the project to be scheduled by TRB and/or AASHTO. Research stewards should identify other opportunities to share results of the research. These efforts will help promote the research as a valuable resource for agencies seeking to improve practices in TAM and asset valuation.
3.2 Ongoing Website Maintenance
The AASHTO Subcommittee on Asset Management currently maintains the digital version of the guidance hosted at the URL https://www.assetvalueguide.com. Continuing to maintain the site is important for disseminating the research and supporting its ongoing implementation. The site is designed to function as a self-sustaining resource but nonetheless requires periodic maintenance and technical updates. Ensuring the website remains functional and accessible will support its continued use by transportation agencies and other stakeholders across the industry.
3.3 Development of Future Case Studies Based on Reader Feedback
The research stewards can encourage agencies to provide additional case studies. As case studies are provided, they can be added to the digital version of the asset valuation guidance. Feedback from the pilot phase revealed that the guidance is both relevant and practical for real-world applications. Additional examples would enhance the guide’s value by showing how agencies are applying the recommendations in diverse contexts.
3.4 Participate in Asset Valuation Standards Development
The transportation community has an interest in participating in any updates to asset valuation standards established by the GASB as these standards are used for financial reporting.
In 2024, GASB issued a Preliminary Views for public comment on accounting and financial reporting for infrastructure assets. This preliminary document suggested elevating the requirement to review estimated useful lives from Category B to Category A (which is more authoritative). It would also require some infrastructure to be broken down into components and depreciated separately if they have differing useful lives. GASB has followed with a project on infrastructure assets with a planned completion date of February 2027. The research stewards and members of the transportation community should participate in this process and identify opportunities for alignment between future GASB standards and the asset valuation guidance intended to support TAM applications.
3.5 Improved Integration with Other Asset Management Publications
In recent years the transportation community has developed a number of publications with guidance related to improving TAM processes in addition to NCHRP Web-Only Document 335. This includes but is not limited to the AASHTO TAM Guide and other research reports and guides on topics such as financial planning for TAM, TAM data, determining asset useful life, management of ancillary assets, TAM for geotechnical assets, and other asset class-specific guidance. Ideally in updating these documents, the transportation community would identify opportunities to align the different documents with a goal of developing a comprehensive and complementary set of asset management publications. Two examples of such an approach include Austroads, with its multi-part Guide to Asset Management, and the Institute of Public Works and Engineering Australasia (IPWEA), which publishes the International Infrastructure Management Manual (IIMM) and complementary Australian Infrastructure Financial Management Manual (AIFMM).
3.6 Synthesis Project
Research stewards should consider proposing a synthesis project following the 2026 TAMP cycle. This project would focus on reviewing current asset valuation practices and synthesizing lessons learned.
