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RISK MANAGEMENT IN RAILWAYS
any organization to identify all foreseeable hazards and then analyzing the risk systematically
(Bahn 2013). Therefore, appropriate hazard analysis process will be setup to identify and
prioritize high and low risk issues.
Systematic and structure hazards identification process will be considering all the factors
present in the railway system. This will include mode of operation, boundary of the system,
circumstances of system, human factors and maintenance cycle. The Preliminary analysis will
give an indication of hazards present in the whole railway system operations and then the
hazards will be categorized on the basis of severity of damage (Beus et al. 2016). The severity
will be judged by critically analysing the impact of risk on infrastructure damage and human
injury. The importance of hazard categorization process is that it will facilitate safety
management planning and determining follow-up actions to mitigate the hazards present in the
system (Collis et al. 2014).
Secondly, as tracks plays a major role in safety of the railway system, hazard
identification in this area can be done by the variable of horizontal rougness, roughness on the
running surface and the condition of ballast. Some of the diagnostic test that can be useful for
tracking safety of railway track may include visual inspection of the railway track, technical
inspection, measurements of tracks and shifts of rails and inspection or turnouts (Bertrand et al.,
2017, June).
Risk analysis
This step is the most crucial part of the risk management system. Risk analysis will help
to quantify risk assessment in the railway system design and operations. The Railway Safety and
Compliance manager and the Rail Safety workers will have the responsibility to maintain the risk

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