Asset management in the railway sector needs to improve significantly. This can be done through innovative technologies, new economic possibilities and enhanced legislative standards. With this in mind, the EU-funded IN2SMART2 project has formed a multi-action plan called the Intelligent Asset Maintenance Pillar to deliver innovative asset management. It aims to achieve this by creating new and optimised strategies, processes, tools, products and systems to implement enhanced risk-based, prescriptive and holistic asset management. Focusing mainly on tactical and operational levels, the project’s plan will help to achieve a more efficient railway sector.