Project Risk Management

Running head: PROJECT RISK MANAGEMENT
PROJECT RISK MANAGEMENT
Name of the Student
Name of the University
Author Note

1PROJECT RISK MANAGEMENT
Table of Contents
Introduction................................................................................................................................2
Background................................................................................................................................2
Framework Related to Risk Management of Project.................................................................3
Types of Risks........................................................................................................................3
Structure for Managing the Risk............................................................................................4
Industry Analysis.......................................................................................................................5
Rationale of the Project..............................................................................................................5
Feasibility of Project..................................................................................................................6
Conclusion..................................................................................................................................6
References..................................................................................................................................8

2PROJECT RISK MANAGEMENT
Introduction
Management of the risk is one of the major activities that are associated with the
development of the project. It is one of the major events that are related to the development of
the project. The current study is based on the analysis of the attributes that are related to the
enhancement of the projects that will be contributing to the strengthening of the factors that
are associated with the development of the project and identifying the potential risk that is
related to the project. This project that has been considered for the study is the change in the
regional rail fleets of the NSW government (Transport.nsw.gov.au, 2019). The study will be
concerning the features that are related to the development of the various aspects responsible
for the contribution of assessing the risk and utilize the potential to minimize it. The study
will concern frameworks related to the risk management of the project along with analysing
the industrial risks and emphasize on the rationality and feasibility of the project.
Background
The NSW government has been involved in the process of replacement of the rail
fleets that will be contributing to the development of the aspect that will be improving the
enhancement of the rail fleet. There has been implication with regarding the aspect that is
related to the development of the factors that are responsible for the development of the
process that is related to the maintenance of the fleet. This project can be beneficial for the
economy as it can help in generating job and strengthen the economy of Western Australia
(Transport.nsw.gov.au, 2019). It is one of the major factors for the development of the aspect
that is related to the journey in the train as the incorporation of the project means that fleet
will be upgraded with the better comfort and reliability to the customer, which can affect the
transportation of the country. Momentum rails is the contractor for the development of the
project. Their expertise in rail services is one of the major factors that have a significant