Status: Concept
Timeframe:
Potential Funding: Unspecified
Background:
There are standard practices used internationally for incorporating asset valuation into an organization’s financial statements that have not been adopted in the US. These are important to asset management to support long-term financial planning, leading to improved financial sustainability. Improved practices in asset valuation will allow agencies to use financial valuation and acknowledge that sustainability is not only about maintaining financial capacity (cash) and infrastructure capital (condition).
Objectives:The objectives of this research are to examine methods for evaluation of system assets. Thorough research should:
• Identify international practices and determine how they can be applied in the US
• Better marry engineering and accounting in financial planning
• Demonstrate benefits through a case study (may be fictional)
The proposed research will have the following deliverables:
• A literature review, and well as a review of current practices.
• A tool to assess the functionality of the current practices of American agencies, as well as compare those practices to their overseas counterparts.
Duration:
Project Budget:
Topics: Guidance/Lessons Learned
Subjects: Financial Management/Asset Valuation
