Intelligent Transportation System (ITS) often includes technologically sophisticated devices, computer hardware and software, and communications infrastructure; for which traditional asset management tools are not always appropriate. In challenging economic times, it is essential that public agencies manage their ITS systemsmore efficiently, yet ITS asset management is new to many. There is a need to review different asset management systems for their ability to support the ITS needs of public transportation agencies. The primary contribution of this paperis establishing a method for making this comparison andidentifying measures of effectiveness to use for evaluating such systems. Thesemeasuresof effectiveness were identified through a nationwide survey of public transportation agencies and the method was demonstrated through a case study in South Carolina.