Performance Measurement for Managing Infrastructure Assets
Performance measures are central to managing infrastructure assets, since they provide quantitative benchmarks and express values and preferences that are important for decision making. For example, one performance measure for decisions on upgrading an electrical power line is the improvement in service reliability, measured in terms of annual customer interruption hours. This paper first presents an overall framework for developing performance measures for infrastructure decision-making. The framework is then illustrated with an example that involves a decision of whether or not to place overhead power lines underground in order to improve performance measured as service reliability, health and safety, operation and maintenance cost, and impacts on property values.