Get Instant Help From 5000+ Experts For
question

Writing: Get your essay and assignment written from scratch by PhD expert

Rewriting: Paraphrase or rewrite your friend's essay with similar meaning at reduced cost

Editing:Proofread your work by experts and improve grade at Lowest cost

And Improve Your Grades
myassignmenthelp.com
loader
Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

Attach file

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Guaranteed Higher Grade!
Free Quote
wave

This assignment requires you to examine the available information related to the Regional Rail Fleet project case study and to assume the role of risk consultant or risk manager for the development of a similar rail system that could be implemented between Perth and Regional Centres in Western Australia. Based on the information gathered, and the lessons learnt, you are required to produce a report for the Western Australian Government. The project examines:

1. The Western Australian Government’s need for the project

2. The feasibility of the project

3. Both negative as well as positive risk events/conditions present in the Western Australian scenario.

4. Possible risk treatments/responses elements that are identified and are appropriate.

5. A risk management plan highlighting all the relevant risks and how they will be managed.

6. Recommendations regarding the project with suitable justification of the most appropriate way forward.
 

Benefits of Rail System

The aim of this report is to describe the important factors that are needed to be focused while implementing the rail system between the Perth and regional centres in Western Australia. The newly developed rail system will provide wider benefits that includes more seating space, comfortable arm rests, tray tables and high seat backs. The project will ensure easy travel with the locations Perth and regional centres. This will also provide easy accessibility towards the wheelchair access and will include accessible toilets. The report will focus on the basic needs of western Australian government for implementation of this project. The feasibility of the project needs to be addressed so that the real implications of the project can be understood properly. The data collection part will include the important information that are needed to be considered for the WA government. The second part of the report will include risk management plan and recommendations for better implementation of the project.

The railway station between the regional centres and Perth is expected to undergo a major transformation as a sub part of the programme organized by Western Australia Government. It is expected that the government will undertake the $146m upgrade project. The project will improve the rail system effectively. The major need of the WA government is the approval for the maintenance and development of this features. The WA government needs to get approval on the contract so that they can proceed with the implementation of the project. While implementing the new rail system it is important to ensure that the new fleet has included a range of engagement activities with the customers. The customers are also considered as one of the important stakeholders as they were responsible for sharing their feedback on the newly proposed design. The newly designed vision includes vision, mobility and better care towards aged customers and people travelling with children and different section will be allocated for the luggage and bicycles. 

The project that is going to be developed based on the rail system is feasible as it is being sanctioned by the government. The new rail system will provide an increase of total around 600 carriages for expanding the transport facility. The main stakeholders are the western Australian government authorities and the railway commission. Apart from this the passengers and the staffs also plays a major role. The system is going to be developed for minimizing the difficulties faced by passengers while travelling and by the staffs in managing their customers. Thus it is important to ensure that all the affects and risks are analysed highly before implications of the projects. Before implementing a project it is important to ensure that the system has assessed all the requirements efficiently and has calculated the impacts that will be created on environment.

Basic Needs of WA Government for Implementation

The risks related to the new rail project includes improper functioning of the system that is leading to uncertainty of the project. The risk analysis will represent problems including cost overrun, project delay, safe construction and operation of the system integrity. It is essential to ensure that risks assessment is performed properly while managing the large railway projects.

The major risks related to the implementation of the new rail system for Western Australian Government includes social and political issues, issues regarding the financial concerns, and engineering related issues. In the risk related to social and political issues it is observed that proper regulatory license and permits are important so that it does not create any issue in future. Proper environment impact statement is needed to be included so that it can determine the exact impact it possess on the environment. The risks implication is medium on the rail system. In addition to this it becomes important to check whether the developed project is feasible or not.

The report has included the possible risks associated with the project and the major involvement of stakeholders. The projects that are not feasible in market possess high threat at the time of implications. In addition to this it is important to get proper approval from every major stakeholders and government so that the projects scope, schedule and cost can be maintained properly within the time. Technical constraints are another factor that has the potential to effect the development of the rail system. Small gaps between the developments part will affect the working of the system. However at the time of project management it becomes sometime unpredictable to determine the involved in managing the working. In addition to this it is important to ensure that the system procurement is done properly so that each scope can be defined properly. The funding process needs to be done properly so that at the time of implementation it does not creates any problem. The chances of this risk is comparatively high and needs to be mitigated properly so that it can impact the better working of the rail fleet. The analysis of this impact includes better working of the rail system. The risk description table for the discussed project is described below:

Sl. No.

Risk/Vulnerabilities

Description

Likelihood

Impact

1

Schedule Escalation

The case describes the chances of the project getting increment for the schedule. Thus it is important to prepare schedule perfectly.

3

5

2

Budget Escalation

Budget needs to be set properly by western Australian government so that the project does not gets escalated.

4

5

3

Design Risk

While designing the new infrastructure of the rail system there are some risks that are needed to be mitigated on urgent basis.

3

4

4

Resource jump

Resource lacking is a major issue for the development of the new rail system. The system needs to ensure that all the resources are included within the budget.

4

4

5

Improper communication

Before execution of a project it becomes important to ensure that proper communication plan is implemented so that no gap is being created while implementing the project.

3

5

6

Stakeholder Conflicts

There are high chances that the conflict will occur between the stakeholders, however effective way of communication will reduce the chances of conflicts.

2

2

7

Resource displacements

There are no such chances of resource getting displaced as all the resources are being adjusted as per the instruction of the government.

3

3

8

Improper estimation

This works when the main stakeholders and the government fails to estimate the budget of the plan effectively before the execution of the project.

2

5

9

Transportation

The areas under which the new system will be implemented needs to be maintained properly so that effective transport can be performed.

1

3

10

Technical risk

The main technical risks related to the project is with the proper usage of the implemented system.

3

3

The risk matrix for the project is designed below:

Likelihood

5

4

R 5

R 2

3

R 8

R 3

R. 1

R 6

2

R 7

R 4

R 9

1

R 10

1

2

3

4

5

Impact

The major risk associated with the new rail system is the budget and technical parts. The report has described the feasibility of the project. It is recommended that the project implications needs to be done in such a way that it will create some real implications and will provide great benefits towards the Western Australian government. The following recommendations can be provided for the mitigation of the risks which are involved in the project are provided below:

  • Cost:The budget allocations are to be done prior to the implementation of the project. The project is to be completed within the allocated budget. The budget at all the stages of development of the project is to be maintained accordingly.
  • Schedule:the schedule for the project is to be made in the placing stages of the project and the project log is to be used for the indication towards the measure of completion of the project. This would help the project team in development of the project without deviating from the course of the project. The project team would thus maintain the schedule for the project.
  • Resource allocation:The resource allocations at the start of the project is very important as the hardware and the other raw materials for the project is the identified and procured before the actual implementation of the project. This would reduce the risk of resource jump in the project. In addition to this, the allocation of the resources would also help in the determination of the schedule and budget for the project. Hence, the allocations are to be done efficiently before the start of the project. Thus it can be stated that the project can be implemented successfully if it overcomes the determined risks. 

McNeil, A. J., Frey, R., & Embrechts, P. (2015). Quantitative Risk Management: Concepts, Techniques and Tools-revised edition. Princeton university press.

Sadgrove, K. (2016). The complete guide to business risk management. Routledge.

Bromiley, P., McShane, M., Nair, A., & Rustambekov, E. (2015). Enterprise risk management: Review, critique, and research directions. Long range planning, 48(4), 265-276.

Ho, W., Zheng, T., Yildiz, H., & Talluri, S. (2015). Supply chain risk management: a literature review. International Journal of Production Research, 53(16), 5031-5069.

Hillson, D., & Murray-Webster, R. (2017). Understanding and managing risk attitude. Routledge.

Olson, D. L., & Wu, D. D. (2015). Enterprise risk management (Vol. 3). World Scientific Publishing Company.

Cole, S., Giné, X., & Vickery, J. (2017). How does risk management influence production decisions? Evidence from a field experiment. The Review of Financial Studies, 30(6), 1935-1970.

Tupa, J., Simota, J., & Steiner, F. (2017). Aspects of risk management implementation for Industry 4.0. Procedia Manufacturing, 11, 1223-1230.

Dimitriou, H.T., Ward, E.J. and Wright, P.G., 2016. Megaprojects and mega risks: lessons for decision-makers of large-scale transport projects: OMEGA Centre lessons derived from European, US and Asia-Pacific case studies. In Socioeconomic Evaluation of Megaprojects (pp. 62-79). Routledge.

Eriksson, T. and Kadefors, A., 2017. Organisational design and development in a large rail tunnel project—Influence of heuristics and mantras. International Journal of Project Management, 35(3), pp.492-503.

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2020). Essay: Factors For Rail System Between Perth And Regional Centres In Western Australia.. Retrieved from https://myassignmenthelp.com/free-samples/man6301-risk-management-recommendation-for-wa.

"Essay: Factors For Rail System Between Perth And Regional Centres In Western Australia.." My Assignment Help, 2020, https://myassignmenthelp.com/free-samples/man6301-risk-management-recommendation-for-wa.

My Assignment Help (2020) Essay: Factors For Rail System Between Perth And Regional Centres In Western Australia. [Online]. Available from: https://myassignmenthelp.com/free-samples/man6301-risk-management-recommendation-for-wa
[Accessed 02 March 2024].

My Assignment Help. 'Essay: Factors For Rail System Between Perth And Regional Centres In Western Australia.' (My Assignment Help, 2020) <https://myassignmenthelp.com/free-samples/man6301-risk-management-recommendation-for-wa> accessed 02 March 2024.

My Assignment Help. Essay: Factors For Rail System Between Perth And Regional Centres In Western Australia. [Internet]. My Assignment Help. 2020 [cited 02 March 2024]. Available from: https://myassignmenthelp.com/free-samples/man6301-risk-management-recommendation-for-wa.

Get instant help from 5000+ experts for
question

Writing: Get your essay and assignment written from scratch by PhD expert

Rewriting: Paraphrase or rewrite your friend's essay with similar meaning at reduced cost

Editing: Proofread your work by experts and improve grade at Lowest cost

loader
250 words
Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

Attach file

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Other Similar Samples

support
Whatsapp
callback
sales
sales chat
Whatsapp
callback
sales chat
close