Closing the Gap Between Strategy and Results

RPM Systems Corporation

Copyright © 2011 RPM Systems Corporation

Tri-Venture Railroad Portfolio

Managing Amtrak, Long Island Railroad and New Jersey Transit Projects

Tri-Venture Portfolio Management:  How do Long Island Rail Road, New Jersey Transit and Amtrak plan projects in the New York and New Jersey region, where the three railroads operate over a common infrastructure?

RPM developed and deployed a custom version of its Engineering Project Database for  the Tri-Venture that included over 3,400 projects representing more than $2.5 billion.

The Tri-Venture portfolio of projects included work currently underway plus thousands of additional projects that had been identified and planned for the next twenty-plus years.  

The Tri-venture project brings together three agencies: Amtrak, Long Island Rail Road and New Jersey Transit.  The project was initiated to assess the state of good repair for an area that starts on the east side of the Hudson River travels through the Hudson River tunnels into the Penn Station area complex in Manhattan and then out the other side of Penn Station through the East River tunnels.

Penn Station, on 34th street in New York City, is the busiest train station in the world with over 1000 trains per day on only 21 tracks in the station area (at 42nd street is Grand Central Terminal and the largest train station in the world with 118 tracks on two levels).

The three railroads identified over 3400 projects requiring more than $2.5 billion to accomplish over a 20 year period to keep the assets in a state of good repair.  Once the data had been entered into the Tri-Venture Enterprise Portfolio Management (EPM) system, the railroads generated numerous reports ranging from high-level, one-page management summaries to detailed work plans.

The EPM system enabled the three railroads to plan and analyze these projects individually and to be specific about the assets that needed to be replaced or rebuilt.  This includes comprehensive visibility into the proposed cost and schedule of future work, as well as project tracking for work currently underway.

The Tri-Venture EPM SGR assessments were made by the engineering organizations of the three railroads in the following categories :  

Track

Power

Signal

Shops and Yards

Employee Facilities

Tunnels and Structures

Passenger Stations

Communications