Historically, transportation asset management has focused on roadways and bridges, but more recently, many agencies are looking to extend their programs to ancillary assets such as traffic signs and guardrails. This thesis investigates the state of practice of managing these assets in order to assess the data and system needs for successful program implementation, and further reviews the opportunities for making a business case for formal management procedures based on quantified benefits of managing ancillary assets. The asset classes, selected from a review of asset management literature, include culverts, earth retaining structures, guardrails, mitigation features, pavement markings, sidewalks and curbs, street lights, traffic signals, traffic signs and utilities and manholes, with data as an information asset. Findings from a literature review showed that a number of agencies have made substantial efforts to manage their ancillary transportation assets; however, methods and practices vary. Specific state and municipal agencies identified from the literature review were surveyed for further details on their practices. The survey results show significant knowledge gaps in data collection cost estimates, and cost savings from the implementation of a transportation asset management program for ancillary assets. Finally, this work evaluates the opportunities to quantify the benefits of ancillary transportation asset management, indicating several challenges due to a lack of the data needed. The results obtained highlight the current state of practice, revealing opportunities and challenges for improving the management of ancillary transportation assets.