asset management

(2) Asset management .— The term “asset management” means a strategic and systematic process of operating, maintaining, and improving physical assets, with a focus on both engineering and economic analysis based upon quality information, to identify a structured sequence of maintenance, preservation, repair, rehabilitation, and replacement actions that will achieve and sustain a desired state of good repair over the lifecycle of the assets at minimum practicable cost.

Source

23 USC § 101(a)(2)

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Scoping language

None identified, default scope is assumed to be the parent (chapter 1) of this section.

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