Train asset availability and reliability management system

A method for managing train assets increases the time between required maintenance of the train assets, improves the future availability of the train assets, or increases the likelihood that the train assets will successfully complete future missions. A controller may receive from a sensor on a train asset a real-time signal indicative of at least one of a measured operational characteristic or a maintenance activity associated with the train asset, receive from a memory prognostic data providing information on a likelihood the train asset will complete a mission, and simulate a hypothetical operational scenario (HOS) based at least in part on the prognostic data and involving one or more train assets. Predictive data associated with the HOS may provide information on a likely benefit to a train asset from a change in at least one of an operational parameter, designated operational configuration for the train assets, or maintenance-related activity.