Asset management is an integral element of any rail transport operator's safety management system. It is used to manage the risks associated with the design, use and disposal of physical assets throughout their lifecycle, ensuring assets are safe to operate and maintain.

Asset management guideline

ONRSR’s asset management guideline provides scalable guidance for industry on how to comply with asset management obligations under the Rail Safety National Law.

In developing the guidance, ONRSR aimed to describe ‘good asset management’, focus on asset management specific to safety and align with existing definitions and standards for asset management.

The guidance complements rather than repeats guidance available to industry such as: 

• Preparation of a rail safety management system
• Meaning of duty to ensure safety so far as is reasonably practicable. 

Development of the guideline was informed by an Asset Management Industry Reference Group, involving some of Australia’s leading rail transport operators. 

Using the guidance

Key features of the asset management guideline include:

• regulatory requirements
• what ONRSR expects
• a ‘ready reckoner’ of the key issues that ONRSR will be seeking in an RTO’s asset management system
• useful approaches for enhancing asset management practices.

Related documents

• Asset management guideline

Last updated: 5 December 2017