This session discusses the fundamentals of optimization and prioritization approaches for fund allocation decision-making in municipal sector. The presentation compares optimization methods with condition-based ranking, multi-criteria prioritization, and benefit-cost analysis solutions, and highlights the advantages and disadvantages of each approach. The session presents a number of case studies from Canadian municipalities that are currently applying advanced optimization solutions in their pavement preservation programs. It will discuss the benefits they are achieving with the objective of quantifying the real-life implications of optimized fund allocation.