In early 2020 the Federal Railroad Administration issued a final rule – 49 CFR Part 271 – to help railroads establish a “Risk Reduction Program” to improve the safety of its operations.
Part of the rule states, “RRP is a comprehensive, system-oriented approach to safety that determines a railroad operation’s level of risk by identifying and analyzing applicable hazards, and involves developing plans to mitigate, if not eliminate, that risk.”
Data collection and analysis, as part of a Safety Management System (SMS) is to be established. Predictive Analytics should be a part of your plan, and First Analytics can help create and implement a custom analytics plan for your company.
For more information, please read: Ace Your FRA RRP Filing with PSA