Due to the increase in deterioration of the existing civil infrastructure, in particular bridge networks, governments and highway agencies are trying to find methods that allow a consistent and rational management of existing bridges. In this paper, a novel approach is presented. This approach uses multi-objective probabilistic optimization over time and defines performance of existing bridges in terms of lifetime condition, safety, and cost. The proposed approach aims at providing a tool for optimal maintenance management policy definition of a large group of similar structures. Consequently, emphasis is put on the use of limited information and low computational cost. Applications to real cases are presented showing the applicability of the method as well as its advantages in terms of reduction of costs and improvements in performance.