Austroads has published new templates to help road agencies evaluate the potential risks of maintenance investment across a range of infrastructure.
The templates are designed to help road authorities consider an investment opportunity through multiple dimensions, such as the benefits of the project, and risk with and without the project.
Austroads released the report ‘A Holistic Investment Prioritisation Framework for Road Assets’ in 2020, outlining a ‘risk-based prioritisation framework’. The framework supports investment decisions for road projects.
The three newly released templates cover maintenance of road surface, maintenance of bridges and other structures and maintenance of traffic lights and signs.
Ross Guppy, Austroads Transport Infrastructure Program Manager says the framework was developed to help decision makers prioritise different investment opportunities to report the implications of different funding level options in a non-technical, easy to understand manner.
“Using the framework requires road authorities to evaluate different investment opportunities through multiple lens,” Guppy said.
“It requires road authorities to understand the benefits, costs and risks of different investments, and factor in other considerations, such as performance outcomes and asset condition outcomes.”
“Each template is specialised to the maintenance of a different type of infrastructure, with templates for road surface and pavement, bridges and other structures, and traffic lights and signs,” he said.
The templates have been produced to produce outcomes regarding risk evaluation and asset condition rating, as well as the benefit cost ratio of a project.
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