4.1 Purpose—This practice provides a framework for an authority to assess, plan, and execute: (1) the construction of new systems of tangible and intangible infrastructure; and (2) operate, maintain, monitor, and repair existing systems of infrastructure assets so as to maximize their use value by providing desired services for the benefit of infrastructure asset service recipients of the authority’s unit of government or private sector organization.
4.2 How to Use Information—The information generated by this practice is used to assess the quality and frequency of delivered infrastructure asset services, which then provides the basis for changing the amounts or proportions of funding for one, many, or all types of infrastructure assets in the subsequent cycle of assessment, planning, and execution. The user shall identify an acceptable score for each infrastructure asset system being assessed with the practice (using resources listed in Table 4) and is encouraged to set targets for higher scores for each subsequent cycle of assessment (so that continuous improvement may be achieved) that shall not exceed four years.
4.3 Who Should Use Information—The authority should use the generated information from the use of this practice to: (1) life safety-prioritize capital expenditures (extraordinary outlays) and spending on operations, maintenance, monitoring, and repair (ordinary outlays) of each infrastructure asset system that is assessed; (2) ensure costs are based on a life cycle basis, and, (3) triage those expenditures when insufficient funds limit the number of prioritized infrastructure asset services that can be improved or upgraded. The infrastructure asset service recipient should use generated information from the use of this practice to: (1) advocate for improved services; (2) coordinate communication among other infrastructure asset service recipients to voice concerns about service quality, frequency, and equity; and (3) identify new sources of revenue if present revenues are not sufficient for projects prioritized by the authority or by infrastructure asset service recipients.
4.4 Regulatory Context—This practice does not supersede or replace federal, State, or local regulations, or reporting guidelines of the Governmental Accounting Standards Board or the Financial Accounting Standards Board. The user is responsible for determining the regulatory context, and associated constraints and obligations associated with the information generated in the performance of this practice.
4.5 Use of Practice—An authority may incorporate this practice, in whole or in part, into general regulatory or guidance documents.
4.6 Professional Judgment—This practice allows for transparency and accountability for an authority. The Infrastructure Management Process (Fig. 2) includes two community engagement steps, whereby the authority seeks concurrence with her/his infrastructure asset service recipients on goals and priorities for such services. Importantly, the authority is obliged to make final decisions that result in provided infrastructure asset services. Should this practice become part of the user’s system of governance, those results will be revisited continuously.
4.7 The user should review the standards in Table 4 before each iteration of this practice’s use.
4.8 Elimination of Uncertainty—Professional judgment, interpretation, and some uncertainty are inherent in the processes described herein even when decisions are based upon objective scientific principles and accepted industry practices. In addition, new methods are continually being developed for this evolving field.
4.9 Process Overview—At initiation, the user reviews: Section 3 Terminology; and then proceeds to Section 4 Significance and Use; Section 5 Planning and Scoping; Section 6 Integrated Infrastructure System Management Process; and Section 7 Infrastructure System Reporting and Documentation, and becomes familiar with Fig. 2, an overview of the Infrastructure Management Process.
