Title A study on Implementation of Asset Management through ISO 55001 in Railway Industry (1/3) - Establishment of System Framework
Dept Transportation Operations and Management Division
Year 2024
Month 7
Price 480
Summary        The railway system is a capital-intensive industry that requires significant capital investments in various types and quantities of infrastructure. Rail assets have the characteristics of high initial investment, long life cycles, and high sunk costs, which require a holistic and systematic approach for life-long and sustainable asset management. "Asset Management" is a system-wide approach that can help organizations improve the utilization efficiency of overall rail infrastructures, reduce life cycle costs, improve system reliability, and achieve the best return on investment. Railway asset management is widely adopted in many countries, such as Australia, Hong Kong, the United Kingdom, etc.
       The goal of asset management is to achieve an appropriate balance of asset cost, risk and performance for the organizations. ISO 55001 is an international standard that provides an internationally recognized definition of competent asset management, and a framework for organizations to establish an asset management system that aligns with the purposes. In order to assist rail operators in Taiwan in establishing an asset management system and enhancing asset management capabilities, this research applies the ISO 55001 international standard to conduct relevant implementation suggestions.
Recognizing its potential to support Taiwan's railway systems, this research studied the standard's intricacies and best practices from leading rail organizations and assessed the current environment and difficulties of rail asset management by visiting the railway system operators and rail regulators in Taiwan.
Drawing on these insights, the study establishes a tailored execution framework, principles, and regulations for the domestic railway industry, including the followed-up promotion plan. These preliminary findings lay the groundwork for the widespread adoption of rail asset management systems in Taiwan, empowering railway
agencies to refine and optimize their operations.
Post date 2024/07/29
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