Project Management: Regional Rail Fleet (NSW)

Running head: PROJECT MANAGEMENT
Case Study: Project - Regional Rail Fleet (NSW)
Name of the Student
Name of the University
Author’s Note

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PROJECT MANAGEMENT
Table of Contents
Part 1: Deliverables..........................................................................................................................2
Introduction......................................................................................................................................2
1.1 Project background...........................................................................................................2
1.2 Literature review...............................................................................................................3
1.2.1 Identification of the project management risk framework.............................................3
1.2.2 Reviewing the industry report and identification of risk................................................4
1.3 Western Australian demand for the project......................................................................5
1.4 Feasibility of the project...................................................................................................6
1.5 Positive and negative risk conditions................................................................................6
Conclusion.......................................................................................................................................8
Bibliography..................................................................................................................................10

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PROJECT MANAGEMENT
Part 1: Deliverables
Introduction
The regional rail fleet development in the Western Australia is considered as one of the
important project that is mainly undertaken by the government in order to deliver safe,
comfortable as well as reliable services to the travelers. The main focus of the government is to
stimulate the economy of the Western Australia by creating a sustainable job opportunity as well
as skills. The assignment generally aims to examine the various types of information that is
mainly associated with the rail fleet project by assuming the role of risk consultant or risk
manager in the development of rail system that is generally implemented in Western Australia.
1.1 Project background
The paper mainly focuses on the regional rail fleet development by the government of
Western Australia. It is identified that the government generally took the decision of replacing
the Western Australia rail fleet trains that generally include XPT, endeavor trains as well as
EXPLORER. In addition to this, the Western Australian government also decided to properly
implement the fleet by making the needed improvements within the rail by focusing on the
safety, reliability as well as comfort of the customers who mainly travel from Sydney to other
regions of Australia. Furthermore, the government also wanted to develop proper designs
including the spacious buffet, accessible toilets, overhead luggage status as well as the facility of
charging points for the travelers. The government provided the contract of this project so that the
project of train development will generally starts its work with the help of proper detailed design
so that the new trains will generally get started from the year 2013 with proper service.

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PROJECT MANAGEMENT
1.2 Literature review
1.2.1 Identification of the project management risk framework
It is stated by Badewi (2016) that risk management is a structured approach that is mainly
used for identifying the various types of potential threat that an organization generally faces
while defining the strategy quite properly for eliminating the impact of risk as well as due to the
appropriate mechanism of successfully evaluating as well as monitoring the strategy. It is
identified that there are mainly six different types of components that assists in developing
proper framework for the procedure of risk management (Cagliano, Grimaldi & Rafele, 2015). It
is identified the components that are associated with the framework of risk management
generally includes risk measurement, risk identification, risk reporting, risk monitoring as well as
governance of risk.
According to Carvalho and Rabechini Junior (2015), in the initial step, it is quite
necessary to identify the risks that are mainly associated with the project. While undertaking a
project, a project manager can face different types of project risks including legal risk, IT risk,
strategic risk, operational risk as well as other types of political risk. For successfully listing the
project risks, it is quite important for the entire project to properly select the risks that are mainly
exposed for categorizing the risks into non-core as well as core project risks. It is opined Kountur
(2018) that proper measurement of project risk assists in providing appropriate information
related to quantum of a specific risk exposure or an aggregate risk exposure and the different
probabilities of loss which generally occurs due to exposure. It is found that in order to measure
various types of risk exposure, it is quite necessary to properly consider the entire risk profile
which is mainly related with the organization.