A risk-based approach for the assessment and management of infrastructure assets

This paper presents an approach for considering the performance of infrastructure assets within a robust risk- based framework such that investment choices can be determined in a more transparent manner. Asset performance is defined in terms of the service delivered by the asset, not the asset condition alone. Risks associated with the future performance of infrastructure assets (roads, bridges, earthworks etc.) should be defined using cross-asset terminology and use the corporate risk scoring structure of the infrastructure owner/operator to ensure consistent investment decisions are made. A case study is presented for highway geotechnical assets, i.e. the embankments, cuttings and underlying ground that support the highway components. Important issues such as the inherent variability of geological materials, the low probability but high consequence of earthworks failures, and the complex interaction between earthworks and other highway assets are discussed. The benefits of making asset investment decisions with due consideration of the associated risks to service are illustrated.