For an asset-intensive industry such as rail, asset management is an essential strategic discipline.
Asset management is about co-ordinating decisions and actions across an organization to maximize the value of its physical assets.
To take one example, the expected service life of a rail vehicle is usually around 35–40 years, with a major refurbishment planned for the 20-year mark. Merely keeping a vehicle in operation over such a length of time is a major challenge in itself, not only in terms of servicing — securing parts, unplanned maintenance etc. — but also in responding to changes in society and customer expectations over the years, such as better access for wheelchairs, WiFi connectivity or introducing more energy efficient heating and air conditioning systems.
Little surprise, then, that the cost of keeping a vehicle in service can even far outstrip its initial build costs.
How we can help
We provide a wide range of asset management support and expertise aimed squarely at the rail sector. This includes:
- Development of investment plans and maintenance strategies
- Decision-making support tools, such as:
- Signalling Infrastructure Condition Assessment (SICA)
- Structures Condition Marking Index (SCMI)
- Records management and asset register development or appraisal
- Infrastructure criticality reviews and risk assessments
What are the benefits?
- A well designed and properly implemented asset management approach allows for better control over asset performance, more efficient use of resources and more effective risk management
- Counter-intuitive results — increased performance despite an associated reduction in resource use
- A strong level of assurance for stakeholders and regulators as a result of certification of processes by an experienced and independent third party