asset inventory, condition assessment, enterprise asset management (EAM) system, National Transit Database, state of good repair, transit asset management plan (TAMP)

Summary

Transit agencies across the United States are required to develop and cyclically refresh a TAMP, which consolidates information on asset inventory and its age, condition and performance; describes how investment decisions are made; and identifies capital projects for improving the state of good repair of assets. With the completion and self-certification by transit agencies of their TAM plans, many are now looking to determine their software solutions. Software is a tool that can enable asset inventories, condition assessments and prioritized investment decision-making. It also can include functionality to support other business areas, such as maintenance and supply chain management, procurement and others. Therefore, software procurement involves much more than the asset management function. The software selection evaluation for an agency must consider the total cost of ownership to ensure an affordable approach that can be maintained and represents a good business choice.