logo

RISK MANAGEMENT PLAN FOR THE PROJECT ON A HIGH SPEAK TRANSPORT SERVICE FROM Brisbane TO Melbourne

   

Added on  2020-10-22

22 Pages4981 Words493 Views
RISK MANAGEMENT PLAN

Executive summary:The current project was based on starting up of High speed train network betweenBrisbane to Melbourne which will be decreasing time by train from 26 hours to 16 hours. All riskwhich were included within the project that was included within the risk management plan sothat they could be mitigated. The main scope of the project was to deliver good service to peoplewho would all be connected with this rail network so that economic progress of Australia couldbe performed. The whole project was privately funded and approved from government whichwill be adding up into economic terms of country so that people are also having time to travelfrom one place to other place. It is very much important that project manager is looking for therisk which is all associated with the project so that they could reduce them all. There will bewhole environment and other external stakeholders who are linked with project and thecompletion of project and they would impact decision taken in projects.

TABLE OF CONTENTS1. INTRODUCTION.......................................................................................................................11.1 Project Information................................................................................................................11.2 Project Scope.........................................................................................................................11.3 Project Objectives..................................................................................................................21.4 Risk Management process.....................................................................................................22. COMMUNICATION AND CONSULTATION PLAN.............................................................32.1 Main Objectives.....................................................................................................................32.2 Stakeholder Analysis.............................................................................................................33. ESTABLISHING CONTEXT.....................................................................................................53.1 Internal context......................................................................................................................63.2 External context.....................................................................................................................63.3 Risk management context......................................................................................................63.4 Risk criteria............................................................................................................................73.5 Stakeholder............................................................................................................................73.6 Roles and responsibilities......................................................................................................73.7 Risk management policy........................................................................................................84. RISK ASSESSMENT PROCESS...............................................................................................84.1 Risk identification..................................................................................................................84.1.1 Identification method......................................................................................................94.1.2 Risk scope.......................................................................................................................94.1.3 Risk register..................................................................................................................104.2 Risk analysis........................................................................................................................114.2.1 Analysing method.........................................................................................................114.2.2 Existing risk control......................................................................................................124.2.3 Risk acceptance criteria................................................................................................134.3 Risk Evaluation....................................................................................................................144.3.1 Evaluation method........................................................................................................144.3.2 Key risk for treatment...................................................................................................145. RISK TREATMENT.................................................................................................................145.1 Probable treatment option....................................................................................................14

5.2 Effective treatment option...................................................................................................146. MONITORING AND REVIEW...............................................................................................156.1 Process.................................................................................................................................156.2 Risk closure.........................................................................................................................157. DISCUSSION............................................................................................................................15REFERENCES..............................................................................................................................16APPENDIX....................................................................................................................................18

1. INTRODUCTIONThe main purpose of all managers who are working within project will be identificationof risk so that their management could done in more effective manner. But it is very importantthat all project manager will be complying and working according to the AS/NZS ISO31000:2009 in way of addressing and managing potential risk in project (Larson and Gray,2015). Under this particular section there will be introduction of the project which is engineeringrelated "High speed train network between Brisbane to Melbourne which will be decreasing timeby train from 26 hours to 16 hours". 1.1 Project InformationWhile traveling from 2 of the major cities of Australia which are Brisbane and Melbourneit is taking approximately about 1 day and 2 hours through train journey. So this particularproject aims at decreasing or lowering down the time which is taken to complete the wholejourney which will be helpful for all regular travellers. This will be privately owned projectwhich is completely supported and approved by Government of Australia. The project will beconnecting the 2 of major cities of country which will be having national significance inincreasing and boosting up economy of Australia. So this particular project will be divided into 5major parts including areas like that of Brisbane, Queensland, Melbourne, Victoria and Sydney. Figure 1: Map of Brisbane to Melbourne1.2 Project ScopeThe particular project which will help into decreasing the time taken to reach fromBrisbane to Melbourne by about 10 hours will be divided into 4 phrase that is included within thescope of whole project. This is completely private funded project which is having approval ofGovernment of Australia which is focusing on:1

Scope 1:Creating the direct train from Brisbane to Melbourne linking eastern AustraliaScope 2:Connecting up of all farm, cities and ports of countryScope 3:Boosting up the economies of eastern Australian regionScope 4:Starting up of rail network which is serving the whole nation for coming generation1.3 Project ObjectivesThe time taken to travel between two major cities of Australia is about 1 day and 2 hourswhich is too long for passengers who are traveling across both cities on regular bases. It is verymuch important to decrease such longer time duration for the citizen and tourist who are visitingcountry (Hartmann and Spit, 2016). The major objective of project will be ensuring that all typeof risk is been identified so that their management process could be taken forward with effectiveplanning. 1.4 Risk Management processThe process which will be concerning to overall planning and monitoring of project willbe termed to as risk management. This is process of identifying, monitoring and managing of allthese potential risk with minimising negative impact for the organisation or project. There iscertain amount of risk which would be identified like that of data loss, cyber-attacks, systemfailure or natural disasters (Elmhedwi, Elmabrouk and Sherif, 2015). For this there is specifiedprocess which includes 5 stages which is illustrated within the below given diagram and studiedin latter section.2

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Risk Management Plan for Queen’s Wharf Brisbane Project
|30
|6433
|454

Critical Evaluation of a Project
|18
|3864
|45

Risk Management Plan for Brisbane Quarter Project
|23
|5968
|323

Risk Management Plan for Melbourne Metro Tunnel
|27
|4857
|69

Risk Management in Project Management
|17
|3690
|359

Project Management Assessment II Workbook - Old Farm House Business Case
|25
|5147
|223