Project Risk Management: Implementing a New Rail System in Western Australia

In this project report we will discuss about project risk management and below are the summaries point:- Development of a new rail system in Western Australia to improve safety and accessibility for travelers. Discussion on project management risk framework and identification of industry risks. Examination of the feasibility of the project and analysis of positive and negative risk events in Western Australia.

Running head: PROJECT RISK MANAGEMENT
Project Risk Management
(New Rail System in Western Australia)
Name of the Student
Name of the University
Author Note:

1PROJECT RISK MANAGEMENT
Table of Contents
Introduction..........................................................................................................................2
Background..........................................................................................................................2
Literature review..................................................................................................................3
Identifying project management risk framework............................................................3
Review of industry report and identifying Risk..............................................................3
Western Australian Government need for the project.........................................................5
Feasibility of the project......................................................................................................6
Both positive and negative risk event in Western Australian..............................................6
Conclusion...........................................................................................................................7
References............................................................................................................................8

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Introduction
The following report is about the development of rail system which can be implemented
between two places that is Perth and Central regions of Australia. The new train system aims to
improve safety, comfort, and accessibility for Australian Travelers (Ghaderi, Cahoon & Nguyen,
2015). New train system in Perth will provide a list of benefits like more comfortable and
functional design like reversible seating. The trains will have spacious buffet cars and overhead
storage for luggage (Hammerli, Kemp & Jeon, 2018). Apart from this, the train will have
selective opening door for station that comes up with short platform. It comes up with modern
CCTV equipment.
The coming pages of the report helps in getting a background of the project. After that, a
literature review has been conducted which comprises of project management risk framework
and review of industry. The importance of the project in Western Australian Government.
Overall feasibility of the project has been discussed in details. Both the scenario that is positive
and negative risk event present in Western Australia has been provided.
Background
The following report is all about recommending rail system which is to be implemented
between Perth and Central regions of Western Australia. There are mainly six types of risk
involved in new train system in Western Australia like political, construction risk, market, and
risk of revenue, financial risk, legal risk and operating system (Pettit et al., 2015). Political risk is
all about the concern of various government action that comes up with ability to generate huge
amount of earning. There is some construction risk involved in this project like cost overrun
which is seen due to design changes. Apart from this, there is some unforeseen weather condition

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which can be noticed in the construction phase of the project. Any kind of demand due to
uncertainty can be considered to be as one of the major factors in the project (Karr, 2017). The
new train model will be needed for replicating the train which is due to detail design phase. It has
allowed both staff and customer to easily gain firsthand experience of this new train. This
particular model is used to conduct end-user stakeholder engagement for forming and refining
the design of new train in Perth.
Literature review
Identifying project management risk framework
Project risk can be defined as an uneven condition which can result in both kind of effect
that is positive or negative on objectives of the project. It tends to defined various aspects like
scope, schedule, cost, and quality. Risk management is all about steps that are taken in
systematic way for identifying, access and response of risk control (Krezo et al., 2016). By the
help of good risk management, one can get support for much better decision making. There is a
need for better understanding of the risk and how these risk will affect the new train system in
Western Australia. There is a need for proper response to the identified risk. The main goal of
project risk management is to increase the overall profitability and its impact on positive events.
The main focus is all about reducing both the probability and negative impact on the project.
Review of industry report and identifying Risk
The new train will provide a list of benefits for person who are traveling for short and
long regional journeys. The new fleet will come up with two kinds of classes that is premium and
economy (Dickinson & Hobbs, 2018). The fleet will be considered to be around 40 percent of the

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whole seating which will be allocated to premium classes. The rail customers will tend to
provide more comfortable journey experiences to customers. Customers come with the capability
to make the charge of their electronic devices from their seats (Hammerli, Kemp & Jeon, 2018).
It will make use of tray of cables from which laptops will work and can easily help in accessing
the individual reading lights.
There is wide variety of risk involved in identifying risk like brainstorming, interviews,
comparison by analogy, SWOT, WBS, project life cycle (Paixão, Fortunato & Calçada, 2015).
The risk has been classified as per the source of their origin. There are large number of risk
categories are proposed like
Input Risk: This particular kind of risk may be arising due to input required information
which can be transformed by design activities of various products.
Domain risk: This particular risk is totally related to project team and product customers.
It is required in the design phase of production activities.
Mechanism risk: This particular risk deviated from various methods, tools, and kind of
risk which are used in the mechanism activity.
Output risk: This particular risk comes into picture as a result of output information or
any kind of physical object that is undertaken by product design based activities.
The given project is based on management risk if it is not properly managed. It will
ultimately result in managing the serious effect of the project and its results (Kaewunruen, Mirza
& Thomson, 2016). In the given parameter, various aspects are discovered like scope, time, cost

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and lastly quality. It is totally defined based on various project plan which is highlighted by team
of project development.
There are six kinds of risk involved in development of new train system in Western
Australia like
Political Risk: It is all about various kind activities of the Western Australian
Government that can create huge effect on their earning (Berry et al., 2017). Issues in
environmental clearance may result in delay of this particular project.
Construction Risk: The most common cause is due to cost overrun which is seen in the
design changes and bad weather condition due to delay in construction.
Market and Revenue Risk: Any kind of demand in uncertainty can be considered to be
as one of the major factors for Train project.
Legal risk: Regulatory risk can easily result from weak implementation of various
regulatory commitments.
Operating risk: This particular risk can come into picture at the time of operation in this
new train project.
Finance risk: This particular risk comes into picture as a result of project cash flow
which results in cover debt services.
Western Australian Government need for the project
New Train system will be an important factor in addressing the upcoming challenges in
domain of transport of Australia. There is some specific area where rail will contribute to

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completing the transport task and transport task (Tirachini et al., 2016). The new trains will
ultimately reduce the intensity of fuel. It will create easy access to urban center and aims to
provide skill work for Australia. With growth of population in Western Australia, rail will
become the backbone commuter of transport in urban areas. Rail considered as the best way to
move large volume of people in and out of the crowded cities. With increase in the overall
capacity of road capacity for constraint and congestion, new rail system will play a key role in
urban transport.
Feasibility of the project
New train project is expected to be completed on time if the risks are needed to be
managed. The main goal of feasibility study is to focus on the problems which can occur on this
project (Heesch, Giles-Corti & Turrell, 2015). By the help of feasibility study, various
organization can understand and organize all the required details for this project to work. It also
leads to development of proper market strategy which can convenience the sponsor of the
project.
Both positive and negative risk event in Western Australian
Positive Risk Management Negative Risk Management
It is all about exploiting the risk which is all
about increasing the positive changes in new
train system project (Tsai et al., 2017). It is
inclusive of various methods by which a user
can make use of proper tools.
It is used for analyzing the threats in the
project that is methods of lowering risk in
new train system. The negative risk in this
new train system can be overcome by
changing the deadlines, increasing number of

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people in the project.
It is the duty of project manager to transfer or
share the involved risk with third party
people. It is mainly done so that they can gain
best results.
Project manager needs to transfer the
involved risk to the other stakeholders who
can manage it.
Project Manager needs to deliver this new
train system as fast as possible
Project manager should minimize the risk as
much as possible so that they can avoid the
negative impact on the project (Dickinson &
Hobbs, 2018).
Conclusion
The above pages of the report help in concluding the fact that the report is all about
development rail system which is to be implemented between Perth and central region of
Western Australia. In the above pages, a brief background of the project has been discussed.
After that, a literature review has been done which comprises of two-part like project
management risk framework, review of industry reports along with identifying the risk. The need
for this new train system in Western Australia has been discussed in details. Feasibility of this
project has been provided. The last section of the report deals with list of both positive and
negative risk event in this project.

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References
Berry, O., Travers, M., Evans, R., Moore, G., & Hernawan, U. (2017). Genomic connectivity in
a tropical reef fish from the Kimberley, Pilbara and Gascoyne bioregions of Western
Australia. Report of Project, 1.
Dickinson, D. C., & Hobbs, R. J. (2018). What is ‘nature’? Perceptions of nature by urban green
space users in Perth, Western Australia. THESIS DECLARATION, 115.
Ghaderi, H., Cahoon, S., & Nguyen, H. O. (2015). An investigation into the non-bulk rail freight
transport in Australia. The Asian Journal of Shipping and Logistics, 31(1), 59-83.
Hammerli, J., Kemp, A. I., & Jeon, H. (2018). An Archean Yellowstone? Evidence from
extremely low δ18O in zircons preserved in granulites of the Yilgarn Craton, Western
Australia. Geology, 46(5), 411-414.
Heesch, K. C., Giles-Corti, B., & Turrell, G. (2015). Cycling for transport and recreation:
associations with the socio-economic, natural and built environment. Health & place, 36,
152-161.
Kaewunruen, S., Mirza, O., & Thomson, D. (2016, March). Responses and vulnerability of
composite railway track slab to train derailments. In Proceedings of the 24th UK
Conference of the Association for Computational Mechanics in Engineering (Vol. 31).
Karr, R. D. (2017). The Rail Lines of Southern New England: A Handbook of Railroad History.
Branch Line Press.

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Krezo, S., Mirza, O., He, Y., Makim, P., & Kaewunruen, S. (2016). Field investigation and
parametric study of greenhouse gas emissions from railway plain-line
renewals. Transportation Research Part D: Transport and Environment, 42, 77-90.
Paixão, A., Fortunato, E., & Calçada, R. (2015). The effect of differential settlements on the
dynamic response of the train–track system: A numerical study. Engineering
Structures, 88, 216-224.
Pettit, C. J., Klosterman, R. E., Delaney, P., Whitehead, A. L., Kujala, H., Bromage, A., & Nino-
Ruiz, M. (2015). The online what if? Planning support system: A land suitability
application in Western Australia. Applied Spatial Analysis and Policy, 8(2), 93-112.
Tirachini, A., Sun, L., Erath, A., & Chakirov, A. (2016). Valuation of sitting and standing in
metro trains using revealed preferences. Transport Policy, 47, 94-104.
Tsai, C. H. P., Mulley, C., Burke, M., & Yen, B. (2017). Exploring property value effects of
ferry terminals: Evidence from Brisbane, Australia.