Incorporating asset value in life cycle cost analysis for transportation infrastructure assets

Asset valuation is an essential component of effective asset management. It is an important method to demonstrate proper management of public assets and effective utilization of tax payers' money. Asset valuation is used in standard reporting, depreciation schedules, auditor requirements and condition assessments. As such, it allows agencies to demonstrate funding needs for asset preservation. On the other hand, Life Cycle Cost Analysis (LCCA) …