Asset management (AM) strategies have shifted from reactive, schedule-based approaches to more proactive, data-driven, and performance-oriented frameworks. The Performance-Based Asset Management (PBAM) represents a systematic process that uses performance metrics and goals to guide decisions during the life cycle of infrastructure assets. It is characterised by outcome-driven planning, life cycle costing, risk management, and data-informed decisions and aligns with international standards such as ISO 55000ff.