Highway asset valuation models

There is a need for local authorities to develop transport asset management plans as part of the Local Transport Plan (LTP) process.  An essential preliminary to this is the development of highway asset valuation models, so that assets can be properly valued.  The CSS/TAG Asset Management Working Group produced a Framework for Highway Asset Management, which provides a reference for authorities.

Detailed guidance is now needed on asset valuation, risk management and optimisation.  This will enable local authorities to establish systems to value their assets, using clear and comprehensive guidance.  This research will assist local authorities by facilitating shared learning and data collection opportunities, and it will benefit government by ensuring comparable and coherent data.  The research will produce asset valuation models as well as guidance for use in LTP development.