Roads are significant assets which have high importance to the socio-economic activities of a nation. Effective and efficient maintenance and preservation of these assets is necessary to provide the required level of service, whereas late maintenance results in unnecessary cost and public inconvenience. While maintenance typically seeks ample budget to meet its purpose, the amount of budget allocated for road maintenance to agencies is limited. Ethiopian Road Authority (ERA) is one of the agencies facing limited maintenance budget. Thus, this study presents a development of prioritization model to optimize the limited maintenance budget by choosing road sections with higher priority through key performance indicators and assessment criterion such as Pavement Condition Index (PCI), Traffic Volume, Maintenance Cost, Functional Classification of Road and Economic Importance of Roads. The study uses judgment of directors and engineers who work on asset management office in ERA head office, Gondar and DebreMarkos regional directorate for the selection of above criteria. Criteria weight is calculated using Analytic Hierarchy Process (AHP). A prioritization model is designed using Java programming through Topsis multi-criteria decision making method. This study was supported through questionnaire and interview. Besides, more than 50% of the questionnaire response showed that PCI, traffic volume, maintenance cost, functional classification and economic importance of roads are desirable criteria for the prioritization of maintenance of road purpose. The study also addresses condition survey method, investigates repeated causes of failure and road maintenance system in ERA. Based on the study, ERA pretty much uses manual visual inspection as a condition survey method. Traffic and lack of adequate maintenance are identified as major causes for road failure. Climate change and lack of construction quality are also identified as causes for road failure in a moderate amount. Finally according to the result obtained from questionnaire survey and interview, the study concluded that prioritization is needed for the effective optimization of the limited allocated budget for road maintenance.