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Volume II: Guide for Performance Measure Identification and Target Setting 1.0 Introduction 1.1 Background In November 2002, AASHTO published the Transportation Asset Management Guide (hereafter referred to as "the Guide") (1), which describes a set of principles and practices for effective alloca- tion and use of resources to address the preservation, operation, and improvement of transporta- tion infrastructure. A key observation in the Guide is that performance measures play a central role in "making an asset management approach work in practical terms" (1 pp. 818). NCHRP Project 20-60, "Performance Measures and Targets for Transportation Asset Management," was undertaken as a logical next step. This project was initiated in July 2003, with two objectives: 1. To provide an assessment of, and recommendations for, performance measures suitable for an asset management approach that effectively address resource allocation in transportation facil- ity preservation, operation, improvement and expansion; and 2. To develop a framework that decision-makers can use for selecting suitable performance mea- sures and setting performance targets. This volume addresses the second objective and serves as a guide to the framework developed under NCHRP Project 20-60. 1.2 Using This Document This document is directed toward transportation agency staff responsible for implementing or enhancing performance measures in an asset management context. The agency does not need to be labeling this effort as "asset management." The guidance will be relevant to any agency seeking to: Improve the technical basis for resource allocation across and within program areas, Ensure consistent approaches to decision making across agency functions, Improve capabilities to relate investment decisions to outcomes, Establish an improved feedback loop from observed performance to agency action, or Improve external accountability for resource allocation decisions. A step-by-step process is described for identifying performance measures, implementing them within the organization, and setting performance targets. Users of this document can refer to Volume I 1