Asset management standards & practice

• It is clear that strong knowledge of the existing assets and their condition and performance is required to ensure decisions are being made based on a true reflection of the overall position • The approach to management of the assets must take a whole life time view recognising the constraints and risks within the business • The connection of the organisational strategic plan and route and asset management strategies and objectives to the functional teams, asset base and performance targets is essential if the organisation is to be in control and seen to be in control - PAS 55 provides a framework to achieve this • Signalling engineers have an important part to play in ensuring performance targets, equipment and maintenance specifications and plans are aligned to the route strategies and plans • With strong asset management processes based on factual knowledge, a clear vision of corporate objectives and an understanding of the risks and asset condition and performance, the infrastructure will continue to support the business and, more importantly, the people the rail network serves