LUL - S1042
Managing LU Asset Risk: Recording of Assets and Data for Condition Reporting
|Publication Date:||1 January 2020|
This standard applies to all physical Operational or Redundant Assets on the LU Estate that are the responsibility of LU or it's suppliers to maintain, operate or renew.
Any physical assets located on or immediately adjacent to the LU estate that are not the responsibility of LU or it's suppliers to maintain, operate or renew, but may pose a safety risk to LU customers or staff, shall be noted and raised to Infrastructure Protection (Central Engineering) and/or the relevant responsible party.
This Standard applies to London Underground Asset Operations, TfL Engineering and London Underground Asset Strategy (TfL Engineering Delivery). In the case of Train Systems: Engineering Vehicles, the Standard also applies to Renewals and Enhancements as the Operator and Maintainer of these assets.
This standard defines the requirements for London Underground (LU) to assess, record and report the condition, degradation, risks and opportunities related to physical assets, through a data and technology led approach.
These requirements ensure LU can demonstrate, at any given point in time, that its assets are being safely operated in compliance with relevant UK legislation, TfL's Enterprise Risk Management Policy and procedure, and the LU Safety Certificate and Authorisation.
Requirements are set out to ensure sufficient asset information is available to guide optimised Asset Management decision making, particularly when prioritising renewal investment and reviewing maintenance practices during Business Plan and Budget prioritisation.
This standard also ensures alignment with and the capabilities to meet the requirements of the TfL Asset risk standard S1044.