### Question
Can you define what asset management means?


### Answer
**Asset management** is defined as the following in *23 U.S.C. § 101*:

> 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

#### Citation:
  - *23 U.S.C. § 101*
  - Heading: **CHAPTER 1-FEDERAL-AID HIGHWAYS**

