A Common Risk Framework for Road and Rail Infrastructures

Abstract

Infrastructure consumes significant financial resources from public budgets, which are often restricted. It is thus increasingly important to optimize and justify long-term investments needs and operational expenses and set prioritization criteria for deteriorating infrastructures competing for funding. In this regard, public infrastructure organizations have been progressively adopting asset management principles and maturing techniques to demonstrate that their asset-related decisions, plans and activities are transparent and efficient. Those principles and techniques involve the balancing of cost, risk and performance and the demonstration that value is being derived from the infrastructure asset base. Risk-based approaches are popular in this regard as they translate in plain terms the societal impacts deriving from infrastructure failures. While some infrastructure organizations exhibit signs of excellence pushing the boundaries of sophistication and innovation, others use less formal approaches while applying and infusing risk-based thinking within the asset management functions of the organization. This paper deals with the application of a common infrastructure risk assessment process in a Portuguese infrastructure organization managing both the national road and railway transportation networks. It includes the presentation of a maturity model and the harmonization efforts towards a common language for the operational risks of bridges, tunnels, pavements, track, signaling and power stations assets. The challenges of establishing a common risk management framework for two very different asset networks are discussed, namely within a pilot-case study covering the maintenance function. The paper also covers the integration of the proposed infrastructure risk assessment process within the overall corporate risk management strategy and the asset management system of the organization.