Asset management – A brief introduction with focus on the ISO 55000 standard and mechanical deterioration of railway related assets

Report, 2021

The brief introduction focuses on railway related physical assets subjected to significant mechanical deterioration – that is wear and tear. This typically relates to track and railway vehicles that need to be regularly maintained. It discusses management of such assets in the light of the ISO 55000 series of standards. It sets out with an introduction to the ISO 55000 series. This overview is narrowed down to show how knowledge and predictive abilities regarding mechanical deterioration fits into asset management. It is followed by an overview of different modes of mechanical deterioration and failures, and how these can be assessed in risk analyses. A standardised and mandated way of performing risk analyses is the common safety method for risk analyses, which is described in chapter sec:Common-safety-method. The overview is then concluded with some brief comments on railway applications.