The Department's Performance Programming Process (P3) ensures that the best system wide investment decisions are made given:

• Overall direction from our customers;
• Available resources; and
• System performance monitored over time.

MDT defines P3 as:
"A method to develop an optimal investment plan and measure progress in moving toward strategic transportation system goals"

One of the main components of P3 is asset management. Asset management is a process to strategically manage the transportation system in a cost-effective, safe, efficient, and environmentally sensitive manner. It is based on managing for results by focusing on performance. The major elements of an asset management system are:

• Establishing goals and objectives through development of a strategic plan;
• Collecting data to measure progress toward achieving the established goals and objectives;
• Using management systems to control the various processes;
• Developing appropriate performance measures;
• Identifying standards and benchmarks;
• Developing alternative analyses procedures;
• Making decisions based on these results and developing an appropriate program;
• Implementing the program; and
• Monitoring and reporting results of actions taken.

Useful Links:
Performance Programming Process (P3) - 2004 Update