The Federal Transit Administration (FTA) and the U.S. transit industry are working to improve the understanding and practice of Transit Asset Management (TAM), which is now a national effort. In keeping with the shift to balance building transit infrastructure with maintaining transit assets, TAM is a strategic approach to managing capital assets. TAM focuses on enabling better decision-making based on quality information and well-defined objectives. By leveraging data to improve investment decisions, TAM improves reliability, safety, cost management, and customer service.
FTA’s recently published "Asset Management Guide for Small Providers" describes what TAM means for small providers and is designed to help agencies develop plans to improve the management of transit assets while meeting the intent of federal requirements. The guide includes a template for small providers to help develop their TAM plans according to best practices.
In the most recent National State of Good Repair Assessment, FTA found an estimated backlog of more than $86 billion in deferred maintenance and replacement needs. Helping transit agencies maintain bus and rail systems in a state of good repair is one of FTA’s highest priorities. In 2012, FTA published a companion report, the Asset Management Guide, which focuses on the management of transit investments and provides guidance for how agencies can apply appropriate asset management business processes.
