Project Management: Cross River Rail, Brisbane
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This document provides an overview of the Cross River Rail project in Brisbane, including its budget, social and economic rationale, key statistics, funding mechanism, and identification of key stakeholders. It also includes a risk analysis and mitigation plan.
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Running head: PROJECT MANAGEMENT
Project: Cross River Rail, Brisbane
Name of the Student
Name of the University
Author’s Note
Project: Cross River Rail, Brisbane
Name of the Student
Name of the University
Author’s Note
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Table of Contents
Part A: Project Overview.................................................................................................................2
1. Overview of the project...........................................................................................................2
2. Overall budget of the project...................................................................................................2
3. Social and economic rationale.................................................................................................2
4. Key statistics................................................................................................................................3
4.1 Scope and size of the project.............................................................................................3
4.2 Budget and estimated cost.................................................................................................4
4.3 Time needed for finishing the project................................................................................5
4.4 Key construction elements or phases.................................................................................6
4.5 Environmental costs or benefits.........................................................................................7
5. Funding mechanism.................................................................................................................7
6. Identification of the key stakeholders......................................................................................7
Part B: Risk analysis........................................................................................................................8
Part C: Risk mitigation plan..........................................................................................................14
Bibliography..................................................................................................................................24
PROJECT MANAGEMENT
Table of Contents
Part A: Project Overview.................................................................................................................2
1. Overview of the project...........................................................................................................2
2. Overall budget of the project...................................................................................................2
3. Social and economic rationale.................................................................................................2
4. Key statistics................................................................................................................................3
4.1 Scope and size of the project.............................................................................................3
4.2 Budget and estimated cost.................................................................................................4
4.3 Time needed for finishing the project................................................................................5
4.4 Key construction elements or phases.................................................................................6
4.5 Environmental costs or benefits.........................................................................................7
5. Funding mechanism.................................................................................................................7
6. Identification of the key stakeholders......................................................................................7
Part B: Risk analysis........................................................................................................................8
Part C: Risk mitigation plan..........................................................................................................14
Bibliography..................................................................................................................................24
2
PROJECT MANAGEMENT
Part A: Project Overview
1. Overview of the project
The project mainly reflects on the construction of “Cross River Rail” that will be helpful
in delivering four new stations at Wollongabba, Roma street, Boggo Road, Albert street as well
as upgradation of Exhibition as well as Dutton Park stations. The main aim of the project is to
develop 10.2 kilometer rail line from the Dutton part to the Bowen rails that mainly includes 5.9
kilometers of tunnel under the CBD as well as Brisbane River (Cross River Rail 2019). It is
found that Cross river rail project will be helpful in providing trains to run for enabling the
transport system for the whole South East Queensland. In addition to this, it is identified that
each of the Cross rivers high capacity will be helpful in unique opportunities for economic
development as well as revitalization of precincts that are very much helpful in Brisbane
evolution. It is analyzed that the construction of Cross River Rail will get completed by the year
2024 by utilizing budget of around $5.4 billion.
2. Overall budget of the project
It is found that $5.4 billion budget is required in order to construct the Cross river rail
which generally includes the construction of four different underground stations as well as
upgradation of the Exhibition as well as Dutton Park stations. In addition to this, the project will
complete the construction of tunnel between the Brisbane and CBD River within that budget.
3. Social and economic rationale
The construction of Cross river rail project will be helpful in providing a number of
benefits including the unlocking of the bottleneck at the core of the transport network that
generally helps in allowing more trains to run by properly integrating with the new roads as well
PROJECT MANAGEMENT
Part A: Project Overview
1. Overview of the project
The project mainly reflects on the construction of “Cross River Rail” that will be helpful
in delivering four new stations at Wollongabba, Roma street, Boggo Road, Albert street as well
as upgradation of Exhibition as well as Dutton Park stations. The main aim of the project is to
develop 10.2 kilometer rail line from the Dutton part to the Bowen rails that mainly includes 5.9
kilometers of tunnel under the CBD as well as Brisbane River (Cross River Rail 2019). It is
found that Cross river rail project will be helpful in providing trains to run for enabling the
transport system for the whole South East Queensland. In addition to this, it is identified that
each of the Cross rivers high capacity will be helpful in unique opportunities for economic
development as well as revitalization of precincts that are very much helpful in Brisbane
evolution. It is analyzed that the construction of Cross River Rail will get completed by the year
2024 by utilizing budget of around $5.4 billion.
2. Overall budget of the project
It is found that $5.4 billion budget is required in order to construct the Cross river rail
which generally includes the construction of four different underground stations as well as
upgradation of the Exhibition as well as Dutton Park stations. In addition to this, the project will
complete the construction of tunnel between the Brisbane and CBD River within that budget.
3. Social and economic rationale
The construction of Cross river rail project will be helpful in providing a number of
benefits including the unlocking of the bottleneck at the core of the transport network that
generally helps in allowing more trains to run by properly integrating with the new roads as well
3
PROJECT MANAGEMENT
as buses in order to enable turn up as well as go system of transport for the entire South East
Queensland. In addition to this, it is found that project can also be considered as one of the key in
order to unlock as well as enable other network including the new rain connection construction
within the Sunshine coast (Cross River Rail 2019). With the help of enhanced capacity as well
as much more frequent services, it generally assists in giving better connectivity to other public
transport system that will further helpful in encouraging the road users to utilize train for
reducing congestion.
On the other hand, it is found that there are a number of disadvantages of utilizing the
Cross river rail. It is analyzed that the rail network will eventually reach capacity however it is
not clearly mentioned that when it will happen. Modelling helps in reflecting that in 2026 to the
south north of CBD will have the capacity of 125% seats but clear detail is not provided.
Moreover, the undertaken project is quite expensive that is one of the major drawbacks of the
project.
4. Key statistics
4.1 Scope and size of the project
The project “construction of Cross River rail” project is considered as one of the major
project that is generally undertaken by the government in order to provide proper services to the
people. In addition to this, the scope of the project mainly includes the following that are mainly
elaborated below:
Developing blueprint for the construction of Cross River Rail project
Undertaking procurement by properly preparing the RFP
PROJECT MANAGEMENT
as buses in order to enable turn up as well as go system of transport for the entire South East
Queensland. In addition to this, it is found that project can also be considered as one of the key in
order to unlock as well as enable other network including the new rain connection construction
within the Sunshine coast (Cross River Rail 2019). With the help of enhanced capacity as well
as much more frequent services, it generally assists in giving better connectivity to other public
transport system that will further helpful in encouraging the road users to utilize train for
reducing congestion.
On the other hand, it is found that there are a number of disadvantages of utilizing the
Cross river rail. It is analyzed that the rail network will eventually reach capacity however it is
not clearly mentioned that when it will happen. Modelling helps in reflecting that in 2026 to the
south north of CBD will have the capacity of 125% seats but clear detail is not provided.
Moreover, the undertaken project is quite expensive that is one of the major drawbacks of the
project.
4. Key statistics
4.1 Scope and size of the project
The project “construction of Cross River rail” project is considered as one of the major
project that is generally undertaken by the government in order to provide proper services to the
people. In addition to this, the scope of the project mainly includes the following that are mainly
elaborated below:
Developing blueprint for the construction of Cross River Rail project
Undertaking procurement by properly preparing the RFP
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PROJECT MANAGEMENT
Construction of 10.2 km rail line including 5.9 km of tunnel between Brigance and CBD
River
Construction of underground stations
Proper upgradation of the Dutton park as well as Exhibition stations
4.2 Budget and estimated cost
It is identified that for finishing the construction work of Cross River Rail project, budget
off around $5.4 million is generally required. The figure that is provided below generally reflect
on the expenditure that is required for the execution of a particular project activity.
PROJECT MANAGEMENT
Construction of 10.2 km rail line including 5.9 km of tunnel between Brigance and CBD
River
Construction of underground stations
Proper upgradation of the Dutton park as well as Exhibition stations
4.2 Budget and estimated cost
It is identified that for finishing the construction work of Cross River Rail project, budget
off around $5.4 million is generally required. The figure that is provided below generally reflect
on the expenditure that is required for the execution of a particular project activity.
5
PROJECT MANAGEMENT
Figure 1: Project budget
(Source: Created by Author)
4.3 Time needed for finishing the project
The work of construction for the Cross river rail project has been commenced in
September 2017 and it is expected that the project will be successfully executed by the year
2014. The figure below mainly showcases on the project schedule.
PROJECT MANAGEMENT
Figure 1: Project budget
(Source: Created by Author)
4.3 Time needed for finishing the project
The work of construction for the Cross river rail project has been commenced in
September 2017 and it is expected that the project will be successfully executed by the year
2014. The figure below mainly showcases on the project schedule.
6
PROJECT MANAGEMENT
Figure 2: Project schedule
(Source: Created by Author)
4.4 Key construction elements or phases
The key construction phases or key elements of the project “Cross River rail” is generally
reflected with the help of the figure that is given below:
PROJECT MANAGEMENT
Figure 2: Project schedule
(Source: Created by Author)
4.4 Key construction elements or phases
The key construction phases or key elements of the project “Cross River rail” is generally
reflected with the help of the figure that is given below:
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PROJECT MANAGEMENT
Figure 3: Key construction phases and activities
(Source: Created by Author)
PROJECT MANAGEMENT
Figure 3: Key construction phases and activities
(Source: Created by Author)
8
PROJECT MANAGEMENT
4.5 Environmental costs or benefits
The environmental impact statement for the project has been approved by the
coordinator in the year 2012 and as per it is the project does not create any problem or issue to
the environment. It is analyzed that the undertaken project was environmentally sustainable.
5. Funding mechanism
It is analyzed that the government generally provides the funding for the project.
However, it is found that the project mainly requires federal funding that is for freeing up the
government and for investing the budget in the projects (Cross River Rail 2019). In addition to
this, the Palaszczuk Government provides suggestion as per which financial contribution from
the Australian government will also the source for project funding.
6. Identification of the key stakeholders
The project stakeholders who are mainly engaged in order to complete the construction of
the project within the year 2024 are generally listed below:
Project manager
Project planner
Supervisor
Contractor
Sub-contractor
Team members
Financial manager
Hr. manager
Quality analyst
Risk manager
PROJECT MANAGEMENT
4.5 Environmental costs or benefits
The environmental impact statement for the project has been approved by the
coordinator in the year 2012 and as per it is the project does not create any problem or issue to
the environment. It is analyzed that the undertaken project was environmentally sustainable.
5. Funding mechanism
It is analyzed that the government generally provides the funding for the project.
However, it is found that the project mainly requires federal funding that is for freeing up the
government and for investing the budget in the projects (Cross River Rail 2019). In addition to
this, the Palaszczuk Government provides suggestion as per which financial contribution from
the Australian government will also the source for project funding.
6. Identification of the key stakeholders
The project stakeholders who are mainly engaged in order to complete the construction of
the project within the year 2024 are generally listed below:
Project manager
Project planner
Supervisor
Contractor
Sub-contractor
Team members
Financial manager
Hr. manager
Quality analyst
Risk manager
9
PROJECT MANAGEMENT
Government
Station development manager
Part B: Risk analysis
The risk assessment that is done for identifying risks that are associated with the
construction of Cross River Rail project are generally done with the help of both qualitative
assessment method as well as quantitative assessment method as per the PMBOK. The table that
is provided below not only elaborates the risk but also helps in reflecting the impact as well as
probability of the project risk.
Risk ID Risk Description Impact Probability
1. Design risk The design risk mainly
occurs due to improper
design as well as
investigation including
geotechnical as well as
contamination as well
as varying time as well
as cost (Sears et al.
2015). This further
helps in discovery of
number of errors as
well as problems from
the design that is
Very high Very likely
PROJECT MANAGEMENT
Government
Station development manager
Part B: Risk analysis
The risk assessment that is done for identifying risks that are associated with the
construction of Cross River Rail project are generally done with the help of both qualitative
assessment method as well as quantitative assessment method as per the PMBOK. The table that
is provided below not only elaborates the risk but also helps in reflecting the impact as well as
probability of the project risk.
Risk ID Risk Description Impact Probability
1. Design risk The design risk mainly
occurs due to improper
design as well as
investigation including
geotechnical as well as
contamination as well
as varying time as well
as cost (Sears et al.
2015). This further
helps in discovery of
number of errors as
well as problems from
the design that is
Very high Very likely
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PROJECT MANAGEMENT
created for the
construction of the
Cross River rail
project.
2. Site risk It is analyzed that
extra land is required
for the project work
that is much more as
per the proposed
construction plan
(Thunberg et al. 217).
The risk that is mainly
associated with this
mainly include
increment in the
project cost due to
additional land that is
required to be acquired
for the project work. In
addition to this, it is
analyzed that
communicate reaction
generally makes a
High Possible
PROJECT MANAGEMENT
created for the
construction of the
Cross River rail
project.
2. Site risk It is analyzed that
extra land is required
for the project work
that is much more as
per the proposed
construction plan
(Thunberg et al. 217).
The risk that is mainly
associated with this
mainly include
increment in the
project cost due to
additional land that is
required to be acquired
for the project work. In
addition to this, it is
analyzed that
communicate reaction
generally makes a
High Possible
11
PROJECT MANAGEMENT
number of changes
within the portal
location in context to
acquisition.
Furthermore,
unavailability of
different type o project
utilities can also create
site risk.
3. Construction risk This is considered as
the risk that mainly
occurs damage to the
rail infrastructure of
Queensland that further
helps in creating a
number of impact on
the services as well as
on the community
perceptions (Hopkin
2018). In addition to
this, it is analyzed that
lack of proper
integration between the
High Very Likely
PROJECT MANAGEMENT
number of changes
within the portal
location in context to
acquisition.
Furthermore,
unavailability of
different type o project
utilities can also create
site risk.
3. Construction risk This is considered as
the risk that mainly
occurs damage to the
rail infrastructure of
Queensland that further
helps in creating a
number of impact on
the services as well as
on the community
perceptions (Hopkin
2018). In addition to
this, it is analyzed that
lack of proper
integration between the
High Very Likely
12
PROJECT MANAGEMENT
contracts can create a
number of construction
risk that generally can
create obstruction
within the progress of
the project and that can
further creates delay
within the project.
4. Operating risk This is mainly
considered as one of
the major incident
constraining operation
that generally can
create a huge loss of
revenue (Almeida,
Hankins and Williams
2017). The key issues
that are associated with
operation mainly
includes damage of
tunnel as well as
further creates impact
on the agreement of
Very High Possible
PROJECT MANAGEMENT
contracts can create a
number of construction
risk that generally can
create obstruction
within the progress of
the project and that can
further creates delay
within the project.
4. Operating risk This is mainly
considered as one of
the major incident
constraining operation
that generally can
create a huge loss of
revenue (Almeida,
Hankins and Williams
2017). The key issues
that are associated with
operation mainly
includes damage of
tunnel as well as
further creates impact
on the agreement of
Very High Possible
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PROJECT MANAGEMENT
rail service as well as
on the reputation of the
Queensland.
5. Financial risk As the project needs
%5.4 billion for
executing the
construction of Cross
river rail project. It is
found that if the
management of the
organization are unable
to manage the
expenditure then the
project budget will gets
shorten and as a result
the project will
generally face a lot of
financial issues as well
as challenges.
Therefore in order to
avoid the financial
issues, it is quite
important to focus on
Very High Likely
PROJECT MANAGEMENT
rail service as well as
on the reputation of the
Queensland.
5. Financial risk As the project needs
%5.4 billion for
executing the
construction of Cross
river rail project. It is
found that if the
management of the
organization are unable
to manage the
expenditure then the
project budget will gets
shorten and as a result
the project will
generally face a lot of
financial issues as well
as challenges.
Therefore in order to
avoid the financial
issues, it is quite
important to focus on
Very High Likely
14
PROJECT MANAGEMENT
proper budget
management for
managing the project
budget.
6. Asset ownership
risk
This is considered as
one of the major risk
that reflects that the
system technology is
no longer supported by
the manufacturer
(Aven 2016). It
generally includes
proper change starting
from the external
system that generally
needs a change within
the CRR system that
further creates a lot of
problem during the
project construction
that further creates
delay in successful
completion of the
High Likely
PROJECT MANAGEMENT
proper budget
management for
managing the project
budget.
6. Asset ownership
risk
This is considered as
one of the major risk
that reflects that the
system technology is
no longer supported by
the manufacturer
(Aven 2016). It
generally includes
proper change starting
from the external
system that generally
needs a change within
the CRR system that
further creates a lot of
problem during the
project construction
that further creates
delay in successful
completion of the
High Likely
15
PROJECT MANAGEMENT
project.
Risk matrix that is provided below generally helps in showcasing the impact as well as
probability of each of the risks that are identified and assumed to occur during the construction
of the Cross River rail project (Ho et al. 2015).Furthermore, the risk assessment matrix that is
provided below generally asses the risk and identified the severity of the determined risk which
generally helps in mitigating the risk as per the probability for avoiding issues and challenges
that can occur during the construction of the project.
Impact
Probability
Very
low
Low Moderate High Very high
Rare
Unlikely
Possible Site risk Operating
risk
Likely Asset
ownership
risk
Financial
risk
Very likely Construction
risk
Design
risk
Part C: Risk mitigation plan
It is found that depending on the information about the risk, it is quite important to
develop a plan that helps in dealing with the project risks quite effectively. The risk management
PROJECT MANAGEMENT
project.
Risk matrix that is provided below generally helps in showcasing the impact as well as
probability of each of the risks that are identified and assumed to occur during the construction
of the Cross River rail project (Ho et al. 2015).Furthermore, the risk assessment matrix that is
provided below generally asses the risk and identified the severity of the determined risk which
generally helps in mitigating the risk as per the probability for avoiding issues and challenges
that can occur during the construction of the project.
Impact
Probability
Very
low
Low Moderate High Very high
Rare
Unlikely
Possible Site risk Operating
risk
Likely Asset
ownership
risk
Financial
risk
Very likely Construction
risk
Design
risk
Part C: Risk mitigation plan
It is found that depending on the information about the risk, it is quite important to
develop a plan that helps in dealing with the project risks quite effectively. The risk management
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plan that is created below generally helps in providing proper mitigation strategy that are helpful
I resolving the risks that occur due to the Construction of the Cross River Rail project.
Risk Risk
description
Impact Probability Mitigation
strategy
Design risk It is analyzed
that the design
risk within the
project mainly
occurs due to
variant
requirements. In
addition to this,
the design of the
project is not
detailed and they
generally arise in
context to time,
cost as well as
scope (Haimes
2015). This
further helps in
discovering a
number of errors
Very high Very likely It is found that
in order to
resolve the issue
it is quite
necessary to
develop clear
performance
requirements. In
addition to this
proper
investigation
throughout the
procurement
phase of the
project is needed
with the
tenderers for
avoiding such
type of risk
PROJECT MANAGEMENT
plan that is created below generally helps in providing proper mitigation strategy that are helpful
I resolving the risks that occur due to the Construction of the Cross River Rail project.
Risk Risk
description
Impact Probability Mitigation
strategy
Design risk It is analyzed
that the design
risk within the
project mainly
occurs due to
variant
requirements. In
addition to this,
the design of the
project is not
detailed and they
generally arise in
context to time,
cost as well as
scope (Haimes
2015). This
further helps in
discovering a
number of errors
Very high Very likely It is found that
in order to
resolve the issue
it is quite
necessary to
develop clear
performance
requirements. In
addition to this
proper
investigation
throughout the
procurement
phase of the
project is needed
with the
tenderers for
avoiding such
type of risk
17
PROJECT MANAGEMENT
as well as
problems during
the construction
phase of the
project.
Site risk The site risk
mainly occurs if
the land that is
needed as per
the project plan
is not
appropriate and
the project
generally
requires more
land. This risk
mainly causes
compensation of
the budget that
further creates a
number of
financial issues.
In addition to
High Possible In order to
resolve the site
risk, it is quite
necessary to
ensure that the
design as well as
construction
plan that is
generally
undertaken is
generally helpful
in determining
the property
extension for the
project (Iqbal et
al. 2015). In
addition to this,
it is necessary to
PROJECT MANAGEMENT
as well as
problems during
the construction
phase of the
project.
Site risk The site risk
mainly occurs if
the land that is
needed as per
the project plan
is not
appropriate and
the project
generally
requires more
land. This risk
mainly causes
compensation of
the budget that
further creates a
number of
financial issues.
In addition to
High Possible In order to
resolve the site
risk, it is quite
necessary to
ensure that the
design as well as
construction
plan that is
generally
undertaken is
generally helpful
in determining
the property
extension for the
project (Iqbal et
al. 2015). In
addition to this,
it is necessary to
18
PROJECT MANAGEMENT
this, it is
analyzed that
communicate
reaction
generally makes
a number of
changes within
the portal
location in
context to
acquisition
(Oakland and
Marosszeky
2017).
Furthermore,
unavailability of
different type o
project utilities
can also create
site risk.
work throughout
the procurement
phase with the
tenderers for
discussing the
project
constraints for
avoiding them
successfully
(Hopkin 2018).
Construction
risk
It is found that
the construction
risk that is
High Very Likely In order to
mitigate the
issue, it is suite
PROJECT MANAGEMENT
this, it is
analyzed that
communicate
reaction
generally makes
a number of
changes within
the portal
location in
context to
acquisition
(Oakland and
Marosszeky
2017).
Furthermore,
unavailability of
different type o
project utilities
can also create
site risk.
work throughout
the procurement
phase with the
tenderers for
discussing the
project
constraints for
avoiding them
successfully
(Hopkin 2018).
Construction
risk
It is found that
the construction
risk that is
High Very Likely In order to
mitigate the
issue, it is suite
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PROJECT MANAGEMENT
associated with
the construction
of the
Queensland rail
project generally
creates damage
to the rail
infrastructure of
the Queensland.
In addition to
this, the project
faces lack of
integration
between the
major project
contracts that
further creates a
lot of challenges
for the
construction of
the project
(Sears et al.
2015).
important o
determine the
sensitive assets
that are required
to be protected
in order to
develop proper
process of
accessing
repairing as well
as protecting the
asset of
Queensland rail.
Moreover, it is
found that
development of
proper project
delivery strategy
is needed for
minimizing the
complexity that
generally exists
between the
PROJECT MANAGEMENT
associated with
the construction
of the
Queensland rail
project generally
creates damage
to the rail
infrastructure of
the Queensland.
In addition to
this, the project
faces lack of
integration
between the
major project
contracts that
further creates a
lot of challenges
for the
construction of
the project
(Sears et al.
2015).
important o
determine the
sensitive assets
that are required
to be protected
in order to
develop proper
process of
accessing
repairing as well
as protecting the
asset of
Queensland rail.
Moreover, it is
found that
development of
proper project
delivery strategy
is needed for
minimizing the
complexity that
generally exists
between the
20
PROJECT MANAGEMENT
interfaces.
Operating risk This is
considered as
one of the major
risk that
generally helps
in constraining
the operations
which further
creates loss of
project revenue.
In addition to
this, it further
creates a lot of
issues as well as
problems
including
consequential
impact, tunnel
damage, rail
service
agreement as
well as risk
Very High Possible In order to
mitigate the
issue, it is quite
necessary to
properly manage
the various
functional
requirements of
the project that
are generally
related with
maintenance as
well as period
availability. In
addition to this,
it is analyzed
that it should be
mitigated with
the utilization of
various key
performance
related
PROJECT MANAGEMENT
interfaces.
Operating risk This is
considered as
one of the major
risk that
generally helps
in constraining
the operations
which further
creates loss of
project revenue.
In addition to
this, it further
creates a lot of
issues as well as
problems
including
consequential
impact, tunnel
damage, rail
service
agreement as
well as risk
Very High Possible In order to
mitigate the
issue, it is quite
necessary to
properly manage
the various
functional
requirements of
the project that
are generally
related with
maintenance as
well as period
availability. In
addition to this,
it is analyzed
that it should be
mitigated with
the utilization of
various key
performance
related
21
PROJECT MANAGEMENT
related with
reputation of the
rail (Almeida,
Hankins and
Williams 2017).
indicators that
are generally
related with
various
performance
based
specifications.
Financial risk It is found that
as per the
assumption, the
construction of
Cross River Rail
project will
generally require
budget of around
%5.4 billion for
executing the
construction of
Cross river rail
project. It is
found that if the
management of
the organization
Very High Likely It is analyzed
that in order to
resolve the
financial risk, it
is very much
necessary to
track the
expenditure
properly. In
addition to this,
proper
management of
project budget is
important for
resolving the
financial risks
PROJECT MANAGEMENT
related with
reputation of the
rail (Almeida,
Hankins and
Williams 2017).
indicators that
are generally
related with
various
performance
based
specifications.
Financial risk It is found that
as per the
assumption, the
construction of
Cross River Rail
project will
generally require
budget of around
%5.4 billion for
executing the
construction of
Cross river rail
project. It is
found that if the
management of
the organization
Very High Likely It is analyzed
that in order to
resolve the
financial risk, it
is very much
necessary to
track the
expenditure
properly. In
addition to this,
proper
management of
project budget is
important for
resolving the
financial risks
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22
PROJECT MANAGEMENT
are unable to
manage the
expenditure then
the project
budget will gets
shorten and as a
result the project
will generally
face a lot of
financial issues
as well as
challenges.
Therefore in
order to avoid
the financial
issues, it is quite
important to
focus on proper
budget
management for
managing the
project budget.
and challenge
which are
mainly
associated with
the construction
of Cross River
rail project
(Oakland and
Marosszeky
2017).
Asset ownership The risks that is High Likely It is found that
PROJECT MANAGEMENT
are unable to
manage the
expenditure then
the project
budget will gets
shorten and as a
result the project
will generally
face a lot of
financial issues
as well as
challenges.
Therefore in
order to avoid
the financial
issues, it is quite
important to
focus on proper
budget
management for
managing the
project budget.
and challenge
which are
mainly
associated with
the construction
of Cross River
rail project
(Oakland and
Marosszeky
2017).
Asset ownership The risks that is High Likely It is found that
23
PROJECT MANAGEMENT
risk mainly
associated with
asset ownership
generally arises
as the system
technology is no
longer supported
by the
manufacturer. It
generally
includes proper
change starting
from the external
system that
generally needs
a change within
the CRR system
that further
creates a lot of
problem during
the project
construction that
further creates
this type of risk
or challenges
can be mitigated
successfully by
successfully
determining the
various
industrial
relations
requirements in
context to the
contact in order
to effectively
determine how
the project
tenders generally
helps in
engaging as well
as managing the
risks that are
mainly
associated with
the project.
PROJECT MANAGEMENT
risk mainly
associated with
asset ownership
generally arises
as the system
technology is no
longer supported
by the
manufacturer. It
generally
includes proper
change starting
from the external
system that
generally needs
a change within
the CRR system
that further
creates a lot of
problem during
the project
construction that
further creates
this type of risk
or challenges
can be mitigated
successfully by
successfully
determining the
various
industrial
relations
requirements in
context to the
contact in order
to effectively
determine how
the project
tenders generally
helps in
engaging as well
as managing the
risks that are
mainly
associated with
the project.
24
PROJECT MANAGEMENT
delay in the
project and due
to which
extension in the
deadline of the
project is mainly
needed (Kivila,
Martinsuo and
Vuorinen 2017).
PROJECT MANAGEMENT
delay in the
project and due
to which
extension in the
deadline of the
project is mainly
needed (Kivila,
Martinsuo and
Vuorinen 2017).
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25
PROJECT MANAGEMENT
Bibliography
Almeida, H., Hankins, K.W. and Williams, R., 2017. Risk management with supply
contracts. The Review of Financial Studies, 30(12), pp.4179-4215.
Aven, T., 2016. Risk assessment and risk management: Review of recent advances on their
foundation. European Journal of Operational Research, 253(1), pp.1-13.
Cross River Rail., 2019. Home | Cross River Rail. [online] Available at:
https://crossriverrail.qld.gov.au/ [Accessed 27 Apr. 2019].
Haimes, Y.Y., 2015. Risk modeling, assessment, and management. John Wiley & Sons.
Ho, W., Zheng, T., Yildiz, H. and Talluri, S., 2015. Supply chain risk management: a literature
review. International Journal of Production Research, 53(16), pp.5031-5069.
Hopkin, P., 2018. Fundamentals of risk management: understanding, evaluating and
implementing effective risk management. Kogan Page Publishers.
Iqbal, S., Choudhry, R.M., Holschemacher, K., Ali, A. and Tamošaitienė, J., 2015. Risk
management in construction projects. Technological and Economic Development of
Economy, 21(1), pp.65-78.
Kivilä, J., Martinsuo, M. and Vuorinen, L., 2017. Sustainable project management through
project control in infrastructure projects. International Journal of Project Management, 35(6),
pp.1167-1183.
Książek, M.V., Nowak, P.O., Kivrak, S., Rosłon, J.H. and Ustinovichius, L., 2015. Computer-
aided decision-making in construction project development. Journal of civil engineering and
management, 21(2), pp.248-259.
PROJECT MANAGEMENT
Bibliography
Almeida, H., Hankins, K.W. and Williams, R., 2017. Risk management with supply
contracts. The Review of Financial Studies, 30(12), pp.4179-4215.
Aven, T., 2016. Risk assessment and risk management: Review of recent advances on their
foundation. European Journal of Operational Research, 253(1), pp.1-13.
Cross River Rail., 2019. Home | Cross River Rail. [online] Available at:
https://crossriverrail.qld.gov.au/ [Accessed 27 Apr. 2019].
Haimes, Y.Y., 2015. Risk modeling, assessment, and management. John Wiley & Sons.
Ho, W., Zheng, T., Yildiz, H. and Talluri, S., 2015. Supply chain risk management: a literature
review. International Journal of Production Research, 53(16), pp.5031-5069.
Hopkin, P., 2018. Fundamentals of risk management: understanding, evaluating and
implementing effective risk management. Kogan Page Publishers.
Iqbal, S., Choudhry, R.M., Holschemacher, K., Ali, A. and Tamošaitienė, J., 2015. Risk
management in construction projects. Technological and Economic Development of
Economy, 21(1), pp.65-78.
Kivilä, J., Martinsuo, M. and Vuorinen, L., 2017. Sustainable project management through
project control in infrastructure projects. International Journal of Project Management, 35(6),
pp.1167-1183.
Książek, M.V., Nowak, P.O., Kivrak, S., Rosłon, J.H. and Ustinovichius, L., 2015. Computer-
aided decision-making in construction project development. Journal of civil engineering and
management, 21(2), pp.248-259.
26
PROJECT MANAGEMENT
Lu, F., Bi, H., Huang, M. and Duan, S., 2017. Simulated annealing genetic algorithm based
schedule risk management of IT outsourcing project. Mathematical Problems in
Engineering, 2017.
McNeil, A.J., Frey, R. and Embrechts, P., 2015. Quantitative Risk Management: Concepts,
Techniques and Tools-revised edition. Princeton university press.
Northeastlink.vic.gov.au., 2019. About. [online] Available at:
https://northeastlink.vic.gov.au/about [Accessed 20 Apr. 2019].
Oakland, J. and Marosszeky, M., 2017. Total construction management: Lean quality in
construction project delivery. Routledge.
Papke-Shields, K.E. and Boyer-Wright, K.M., 2017. Strategic planning characteristics applied to
project management. International Journal of Project Management, 35(2), pp.169-179.
Paquin, J.P., Gauthier, C. and Morin, P.P., 2016. The downside risk of project portfolios: The
impact of capital investment projects and the value of project efficiency and project risk
management programmes. International Journal of Project Management, 34(8), pp.1460-1470.
Sears, S.K., Sears, G.A., Clough, R.H., Rounds, J.L. and Segner, R.O., 2015. Construction
project management. John Wiley & Sons.
Svejvig, P. and Andersen, P., 2015. Rethinking project management: A structured literature
review with a critical look at the brave new world. International Journal of Project
Management, 33(2), pp.278-290.
PROJECT MANAGEMENT
Lu, F., Bi, H., Huang, M. and Duan, S., 2017. Simulated annealing genetic algorithm based
schedule risk management of IT outsourcing project. Mathematical Problems in
Engineering, 2017.
McNeil, A.J., Frey, R. and Embrechts, P., 2015. Quantitative Risk Management: Concepts,
Techniques and Tools-revised edition. Princeton university press.
Northeastlink.vic.gov.au., 2019. About. [online] Available at:
https://northeastlink.vic.gov.au/about [Accessed 20 Apr. 2019].
Oakland, J. and Marosszeky, M., 2017. Total construction management: Lean quality in
construction project delivery. Routledge.
Papke-Shields, K.E. and Boyer-Wright, K.M., 2017. Strategic planning characteristics applied to
project management. International Journal of Project Management, 35(2), pp.169-179.
Paquin, J.P., Gauthier, C. and Morin, P.P., 2016. The downside risk of project portfolios: The
impact of capital investment projects and the value of project efficiency and project risk
management programmes. International Journal of Project Management, 34(8), pp.1460-1470.
Sears, S.K., Sears, G.A., Clough, R.H., Rounds, J.L. and Segner, R.O., 2015. Construction
project management. John Wiley & Sons.
Svejvig, P. and Andersen, P., 2015. Rethinking project management: A structured literature
review with a critical look at the brave new world. International Journal of Project
Management, 33(2), pp.278-290.
27
PROJECT MANAGEMENT
Tabassi, A.A., Roufechaei, K.M., Ramli, M., Bakar, A.H.A., Ismail, R. and Pakir, A.H.K., 2016.
Leadership competences of sustainable construction project managers. Journal of Cleaner
Production, 124, pp.339-349.
Thunberg, M., Rudberg, M. and Karrbom Gustavsson, T., 2017. Categorising on-site problems:
A supply chain management perspective on construction projects. Construction
innovation, 17(1), pp.90-111.
Wu, G., Liu, C., Zhao, X. and Zuo, J., 2017. Investigating the relationship between
communication-conflict interaction and project success among construction project
teams. International Journal of Project Management, 35(8), pp.1466-1482.
PROJECT MANAGEMENT
Tabassi, A.A., Roufechaei, K.M., Ramli, M., Bakar, A.H.A., Ismail, R. and Pakir, A.H.K., 2016.
Leadership competences of sustainable construction project managers. Journal of Cleaner
Production, 124, pp.339-349.
Thunberg, M., Rudberg, M. and Karrbom Gustavsson, T., 2017. Categorising on-site problems:
A supply chain management perspective on construction projects. Construction
innovation, 17(1), pp.90-111.
Wu, G., Liu, C., Zhao, X. and Zuo, J., 2017. Investigating the relationship between
communication-conflict interaction and project success among construction project
teams. International Journal of Project Management, 35(8), pp.1466-1482.
1 out of 28
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