EPM5740 Group Project: Risk Management in Public Transport

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EPM5740 Group
Assignment
PROJECT RISK
MANAGEMENT

Table of Content
 Introduction
 Objectives
 Challenges faced
 Risk management methodology adopted
 Risk analysis and identification
 Conclusion
 References

Introduction
The presentation help in summarising about the risk
management and its aspects in the project. The
presentation reflects on Myki smart card system, a
case study of Victoria where challenges are faced by
the citizens and government of Victoria at the time of
using smart card for purchasing tickets of public
transport. The presentation helps to summarise on
risk management approaches were used and how
these strategies can be developed effectively.

Objectives
To develop effective risk management
approaches to reduce the chances of failures
To develop effective management of card
swiping system at public transport places of
Victoria
Develop new effective card system by using
smart artificial intelligence and technical
resources.

Challenges Faced
 Lack of proper timing function of card system leads to failure
in accepting the card of public. This leads too failures in time
management of daily routine of citizen of Victoria.
 Slow process of accepting card leads to multiple trying of
customer which develop problems for using public transports.
 As fault in accepting the smart cards may leads to get wrong
information which may let down the customer for using such
type of services.
 Poor security and information card system has developed
chances of leaking public information and customer may lose
its confidential information.

Risk Management methodology
adopted
The risk management methodology which is adopted to
reduce the risk of failure of card system at public transport
places is OCTAVE (Operationally, Critically, Threat, Asset
and Vulnerability). It is one of the best and effective
methodology which is used for identification of risk factors
and for analyzing their impact on particular function. This
help in analyzing the factors behind card failures and poor
security and information system.

Risk analysis and Identification
Risk can be analyze through developing and
implementing effective ways such as by adopting
OCTAVE which is one of the best and effective risk
methodology that can be used to identify risk,
evaluate their impacts and help in developing
essential techniques to overcome the challenges and
develop effective risk management process at card
system of Victoria. It is essential to identify the
process which get failures in card system of Victoria,
the main motive of Victorian government to adopt
some effective techniques to develop effective
security and information system at public
transportation systems.
For analyzing the risk the public transportation
management should develop risk analyses register
and can analyze the impact of every risk and can

Conclusion
It is concluded from above risk management assessment of
card system of Victoria. The challenges which are faced by
public at transportation system of Victoria can be reduce
by adopting OCTAVE risk management methodology. This
will help in reducing the problems and can provide
effective services by developing proper management
system along with better security and information system.

References
• Hutchinson, J., 2011. Myki remains as Vic Govt spares IT.
[Online]. Computerworld. Available at:
https://www.computerworld.com.au/article/385200/myki_remai
ns_vic_govt_spares_it
/ [Accessed on 29 April, 2019].
• Harris, S., 2019. Risk management methodologies. [Online].
searchsecurity.techtarget. Available at: https://
searchsecurity.techtarget.com/answer/Risk-management-meth
odologies
[Accessed on 29 April, 2019].
• Bowers, J. and Khorakian, A., 2014. Integrating risk
management in the innovation project. European Journal of
innovation management, 17(1), pp.25-40.