Asset management involves the process of planning maintenance and repairs to facilities and assets. The planning component of this process is critical to achieving a cost-effective management system. New assets require preventative maintenance from the time they are placed into service to ensure they operate for their intended purpose in the most economical manner.
Pavement Management is defined as the process of planning the maintenance and repair of roadways and other paved facilities in order to optimize pavement condition over the entire life of the pavement. This approach focuses on performing the right treatment at the right time to extend pavement life in the most cost-effective way possible.

Authored by Andy Weaver, P.Eng.