The 20th and 21st joint COTA International Conference of Transportation Professionals (CICTP 2020-21)

The determination of the total value of the existing stock of infrastructure assets is a key element of highway asset management. The majority economics in the world have established asset valuation guideline or regulation for better asset management. Different valuation approaches yield different values for a given asset due to their different assumptions and mathematical formulations. This paper focuses on the condition based valuation method of pavement asset, it studies and compares the asset value of a 1257km road network using three different valuation methods. The technical specification of road section was taken particularly into consideration during the valuation process, and comparisons of asset value were also studied on time basis. The variation of pavement asset value with change of pavement condition threshold was also discussed. It is found that the asset value is not always exhibits positive correlation to the change of pavement condition as expected and multi condition threshold are suggested to be utilized for different technical level road sections when using the fixed threshold method for asset valuation. The findings of this research are intended to provide references on selection of proper method for various management purpose.

CICTP