Now that I'm at my office computer, I'd like to echo what Randy talks about. Australia and New Zealand were leaders in the Asset Management process when we began in Michigan; we used a lot of their work as the basis to create the State of Michigan's program. A good resource is the "International Infrastructure Management Manual" that was published in 2002 (not sure if it has been updated). I mention transportation because that is usually one that is ripe with data that can be easily harvested and organized. Every state has some type of Asset Management process for their road systems as required by the federal highway administration. How far along they are in the process depends state to state. I know Portland, OR has a highly developed Asset Management process that has incorporated assets in all areas of the local government that has been underway for many years.ESRi and GIS are one tool you'll need in your quiver of resources as you undertake the Asset Management process. By inventorying the assets of areas you are looking at processing, the data forms the basis for establishing strategies on how best to maintain the assets. The better the data and knowledge, the more developed the strategies can be that city council adopts. Those strategies can then be reflected in goals and objectives of the various departments with a continuous feedback and improvement loop developed that also includes opportunity for public (customer) input. Software can be as expensive or reasonable as you demand. I mentioned some type of GIS and ESRi offers local governments a number of opportunities for training and grants. Your state transportation department may also have centerline maps with coordinates already identified. The USGS has tried to create a clearing house of national maps that are available for your use at no cost as does the US Census Bureau. A group called National Alliance for Public Safety GIS (http://www.napsgfoundation.org/), created by a consortium of non-profits that included ICMA, provides excellent training, resources, and connections.For road inventory and analysis, we used the PASER software program in Michigan which was free to communities and relatively easy to learn. They have yearly training programs for local governments -- http://www.michiganltap.org/sites/ltap/files/workshops/2014_paser_flyer.... area that you'll need to address -- and should before starting -- is who will maintain the data and report out to the various agencies undertaking the asset management process. As an example, my predecessor as city manager undertook an extensive tree inventory for assets in the public rights of way and on public property. The problem was that the inventory and subsequent recommendations were never tracked for compliance or action. We ended up having to recreate the study at considerable cost (encouraged by a large lawsuit) because actions were never documented. Stumps for trees removed were easy to identify; trimming and preventive maintenance was much more difficult. Now imagine water lines, water taps, valves, and the host of other assets that are buried in municipalities and the importance of good, central record keeping and reporting becomes evident.