Commercializing train tracks
Rete Ferroviaria Italiana (RFI), the Italian national railway infrastructure manager, has the goal of commercializing train tracks on a secure and reliable infrastructure. Travelers using RFI’s trains must be safe and secure.
As a way to mitigate risk, RFI established several key performance indicators (KPIs) across its enterprise, which includes one central operating group and 15 regional groups. The KPIs they began tracking were:
- Percent of residual (active) risk data (the risk after mitigation)
- Production loss (the economic impact on production caused by train delays)
As a result of implementing these KPIs and a culture of risk mitigation, RFI was able to build living intelligent asset strategies that prioritize maintenance and planning according to risk, which can be continuously adjusted based on newly formed KPIs and budget and/or workforce constraints.
€4 million savings in first year
By focusing on risk mitigation for maintenance strategies, RFI estimated a first year savings of €4 million. Maintenance and operations decisions are now based on objectivity rather than subjectivity, eliminating human error to determine maintenance action priorities. Also, by implementing intelligent asset strategies across its enterprise, RFI is able to make comparisons between locations on maintenance strategies in order to internally benchmark and make continuous improvements as needed.
Implementing this step of intelligent asset strategies gives organizations two metrics to balance –risk and cost. Intelligent asset strategies allow users to take control and better understand what the optimal timing is around a specific asset (or fleet of assets), to better manage business decisions through a risk-to-cost basis. That gives industrial organizations a lot of power around the maintenance and optimization of their assets.
Is your industrial organization ready to take the next steps in mitigating risk on your most critical assets? Learn about the next step of implementing intelligent asset strategies - Monitoring and Detecting Emerging Threats.