Asset management

Cover of Asset management Strategy for Electrical Assets
Asset management Strategy for Electrical Assets
  • Publication no: AP-R446-13
  • ISBN: 978-1-925037-34-0
  • Published: 3 December 2013

Failures of traffic signals can lead to crashes and loss of productivity. As the road network gets more congested, the sustained operation of traffic signals becomes even more critical. The effective management of traffic signal assets therefore plays a vital role. This study developed guidance in the management of traffic signal assets to maximise level of service at a minimum life-cycle cost; mitigate risks to road users; and continually improve planning, maintenance and operations.

To provide guidance, a template for an asset management strategy for traffic signals was developed which focusses on achieving a well-defined and broadly accepted level of service, recognises and manages risks to road users and assets, and uses whole-of-life costs as its criterion. Performance monitoring, review and feedback processes are also suggested to identify improvements in the planning process.

  • 1. Introduction
    • 1.1. Background
    • 1.2. Purpose
    • 1.3. Scope of the Report
    • 1.4. Application of the Generic Framework to Traffic Signals
    • 1.5. Contents of the Report
  • 2. Asset Management Strategy for Traffic Signals
    • 2.1. Asset Management Strategic Focus
    • 2.2. Asset Management Objectives for Electrical Assets
    • 2.3. Legislative and Statutory Requirements
    • 2.4. Road Network Considerations
    • 2.5. Description of the Traffic Signal Assets
    • 2.6. Traffic Signal Coordination Systems
    • 2.7. Level of Service and Needs Identification
    • 2.8. Risk Management
    • 2.9. Whole-of-life Costs
    • 2.10. Maintenance of Traffic Signals
    • 2.11. Traffic Signals Upgrade Works
    • 2.12. Traffic Signals Replacement Works
    • 2.13. Performance Monitoring, Review and Feedback
      • 2.13.1. Performance and Condition Monitoring
      • 2.13.2. Investigation of Non-conformance and Failure Modes
      • 2.13.3. Audits
      • 2.13.4. Continuous Improvement
      • 2.13.5. Quality Assurance
    • 2.14. Traffic Signals Asset Management Information Systems
    • 2.15. Works Delivery Mechanisms
    • 2.16. Value Management and Value Engineering
    • 2.17. Research and Development on Traffic Signal Technology and AM Processes
    • 2.18. Budget Considerations
    • 2.19. Asset Management Plans for Traffic Signal Assets
  • 3. Traffic Signals Strategy Supporting Information
    • 3.1. Hierarchy and Database for Traffic Signal Assets
    • 3.2. Target Level of Service and Key Performance Indicators
    • 3.3. Risk Designation of Signal Sites
    • 3.4. Condition Assessment and Monitoring
      • 3.4.1. Failure Modes
      • 3.4.2. Failure Rates
      • 3.4.3. Monitoring, Predicting and Managing Age-related Faults
      • 3.4.4. Analysis of Faults
    • 3.5. Whole-of-life Cost
    • 3.6. Traffic Signal Maintenance
      • 3.6.1. Planned Preventative Maintenance
      • 3.6.2. Call-out Maintenance
      • 3.6.3. Reliability-centred Maintenance Approach
    • 3.7. Prioritisation of Upgrade Works
    • 3.8. Traffic Signals Replacement Works
      • 3.8.1. Traffic Signal Functional Review
      • 3.8.2. Disposal of Traffic Signal Assets
    • 3.9. Work Quality Considerations
      • 3.9.1. Product Testing, Acceptance and Commissioning
      • 3.9.2. System Configuration Integrity Check
      • 3.9.3. Ensuring Power and Communication Availability
    • 3.10. Delivery Responsibilities Template
    • 3.11. Budget Considerations
  • 4. Conclusions and Recommendations
  • References
  • Appendix A Worked Example
  • Appendix B Compilation of Relevant Traffic SIgnal Asset Management Guidelines from Road Agencies