The basic premise of this paper is that for a road or transportation agency to properly manage its assets requires a comprehensive suite of performance indicators. Moreover, these indicators should, for the most part, be capable of being objectively measured, be communicable to the stakeholders involved and be consistent. The stakeholders include private and commercial road users, policy makers and regulators, and the general public in addition to the road agency itself. The asset management context for performance indicators is defined in terms of an overall framework and its component activities, the road asset items involved and the various criteria, models, data bases, etc. that impact the operation of the asset management system. Performance indicators used in the system must explicitly consider the stakeholders, have clearly defined objectives, be balanced in their use and reporting functions, incorporate efficiency and effectiveness, reflect fundamental values like safety, environmental protection, productivity, and program delivery. Based on the foregoing requirements, an application framework for performance indicators can be constituted at two levels: (1) general, macro level, and (2) detailed, objectively based in terms of service quality, productivity and efficiency, sectoral effectiveness and institutional effectiveness. Tabular listings of features, indictors and units are provided for (1) and for each of the four components of (2). These tables are directly related to the stakeholder groups. The degree to which any individual road agency uses these indicators is a function of their particular situation and needs.