Rail authorities are under far greater pressure to save time and money than ever before. With new guidelines on asset management, developing cost-effective programmes is proving to be a complicated and costly venture. Long-term asset management is undeniably one of the hottest topics in the U.S. Rail Industry. Understanding how to effectively incorporate long-term strategic planning into rail asset management will save time and money in the long run. However, the short-term expenses can be very costly. Recognizing this, the American Passenger Rolling Stock congress has been designed to bring together key stakeholders in North America and Europe to ensure that rail authorities minimize the costs of investment.