Transit provides more than 10 billion passenger trips each year, which represents more trips each month than all of the Nation’s airlines combined will make in a year. When transit assets are not in a state of good repair (SGR), the consequences often include increased safety risks, decreased reliability, higher maintenance costs, and an overall lower quality of service to customers.
The Moving Ahead for Progress in the 21st Century Act, MAP-21, states in its section 5326 that the Federal Transit Administration (FTA) will implement a national transit asset management system, including “a strategic and systematic process of operation, maintaining, and improving public transportation capital assets effectively throughout the life cycle of such assets.”
The Transit Asset Management System will include at minimum:
- The definition of the ‘state of good repair’, that should include standards for measuring the condition of equipment, infrastructure, rolling stock, and facilities of the capital assets of the public transportation systems that receive FTA funding.
- Federal financial assistance to develop a transit asset management plan.
- Reports of the conditions of the systems, and any changes to it.
- An analytical process or decision support tool that allows for the estimation of capital investment needs, and the prioritization of the public transportation systems.
- Technical assistance to the FTA funding recipients.
Predictive Analytics tools for Asset Management can help to meet the requirements of the Transit Asset Management systems, 49 U.S.C. 5326, especially those points related to the implementation of a national transit asset management system, that include an analytical process or decision support tool for use by public transportation systems.