Asset management as a discipline is rapidly gaining prominence worldwide as infrastructure owners struggle to deal with legacy assets and ever-shrinking budgets. Of course, owners can carry on maintaining the assets the same as they've always done - except that the operational and commercial penalties for failure are increasing and they have fewer resources to prevent failures occurring. A smarter approach is needed.
The widespread adoption of Publically Available Standard PAS-55 followed by the launch of the ISO 55000 series has enabled the discipline of asset managment to take a step up in profile as organisations around the world realise that the old ways just won't deliver the performance needed within the budget any more.
Many infrastructure owners in this position share common problems:
They don't really know what assets they've got
They don't really know what condition their assets are in
They don't really know how long their assets will last
They don't really know how to optimise the balance between repair and renewal
They don't really know if they can trust the data they already have
At Cadenza, we have experience of both developing and reviewing asset management strategies and plans to get the best out of assets in a given timeframe.
More than that, we have developed bespoke approaches for optimising the asset intervention strategy.
Combining our experience in railway engineering with innovative, lateral thinking allows us to take imperfect and incomplete data sets and enable senior management to make informed decisions about what they should do.
We like to develop pragmatic solutions that balance theoretical best practice with what is achieveable with the data, budgets and operational environment available.
We draw on academic research and real-world experience to develop workable but progressive solutions.
For new build schemes, we are able to incorporate asset management thinking into the design to minimise the whole life cost or (TOTEX) expenditure.
Our recent experience in asset management has included the following roles, although there are some details we have not indicated, for confidentiality:
Assessment of rolling stock engine failures to inform the engine replacement strategy
Review of railway systems asset remaining useful life for a railway owner/maintainer
Review of station asset management proposals by a Franchisee on behalf of the Department for Transport
Review of asset management plans for large bridges, stations and other significant infrastructure for a large railway infrastructure owner
Assistance to the Office of Rail and Road in developing an Asset Management toolkit for their team