Sydney CBD Light Rail Project: Risk Management Framework, SBM1202

This case study analyzes the risk management framework for the Sydney CBD and South East Light Rail Project. The project, managed by Transport for NSW, involves extending the existing light rail network. The report identifies various risks, including collisions with vehicles and pedestrians, overhead wiring accidents, and financial risks like budget overruns and negative cash flow. The risk management framework adopted by the organization includes mitigation strategies such as signaling systems, pedestrian crossings with gates, line inspectors, and emergency systems. The framework categorizes risks based on their priority and assigns responsible parties for mitigation actions. The analysis also evaluates the effectiveness of the framework in addressing operational and financial risks, emphasizing the importance of proactive risk management in ensuring project success and safety. The report further discusses the importance of legal compliance, performance monitoring, and financial planning to minimize potential negative impacts and ensure the long-term viability of the light rail system.