Selectedproject - Myki project victoria’s new public transport ticketing system , butbe careful to not investigating the final product whichis myki cardyou are required to select a project. Ideally a...

POJECT MANAGEMENT MYKI TICKETING SYSTEM
Table of Contents
Background of the Project    3
Work Breakdown Structure    4
Establishing Responsibilities    10
Estimation of Time & Cost    11
Gantt Chart    13
Risk Assessment    15
References    16
Executive Summary
The project of the myki public transport ticketing process was designed and implemented initially for the public transportation systems aspects of Victoria. This provided a ticketing system that was replaced by one of the complex Smart Card ticketing systems. The budget for the entire project was nearly $1 billion which was approved to develop the entire project and a contract was signed that proposed to operate the particular project for a period of 10 years. It is inherent to mention that the investment decisions were primarily based on the expectation that the ticketing system can develop an inherent and significant benefit to the population of Victoria who uses public transport to be more efficient, reliable, and attractive for commuters. It was initially found that myki provided the best value solution at the minimum cost of living.
Background of the Project
Myki ticketing system was developed in July 2005 that was focused on establishing a smart public transport ticketing system that replaced the age-old Metcard system in Australia. This was a public transport ticketing system that was reloadable and a credit card-sized intelligent ticketing system that was used for the electronic payment for the fares in most of the public transport in Melbourne and Victoria region of Australia. This prospect of a public transport ticketing system was designed by Kean Australia Micropayment Consortium. This system was wholly adopted by the public transport of Victoria which was initially a contract and became one of the biggest electronic ticketing systems. The ticketing requirements for the trains, trams, and buses in Melbourne are contemplated by the Transport (Compliance and Miscellaneous) (Ticketing) Regulations of 2017 and the Victorian Fares and Ticketing Manual.
According to the system, passengers can buy smart cards that they can use for payments at railway stations and the major bus and from interchanges. However, subsequently, the project failed because of the weak and inefficient initial planning and early implementation that had a definite drawback for the entire project management. The failure of the project was contemplated with the aspect that it required around five years to be started and the entire cost of the project was inefficient to accomplish according to the predetermined time and cost which subsequently failed in this project.
The effective contemplation of the entire project recovers to be analysed on the basis of time management and cost management along with the entire processes that were involved with a proper analysis of the work breakdown structure of the entire project. This discussion shall also contemplate focusing on the risk factors and the aspects of the estimated time and cost of the project. This particular discussion shall also focus on contemplating the risk assessment, project network, and effective analysis of the responsible stakeholders in the project.
Work Breakdown Structure
Conceptualization Stage
The initiation stage of the ticketing system project was initially started before the introduction of the Transport Ticketing Authority in the year 2002. This was the initiation stage where an effective evaluation and recommendations were needed. The ministry of transport recommended and released the statement that offered the computers to visit the concourse near the Flinders Street station that offered feedback on a range of ticketing systems and the issues that the commuters faced while traveling. The commuters were also allowed to recommend the equipment that they found around the world. The then government noted the feedback of the commuters and instead about the introduction of a new ticketing process for a big city that was effectively complicated and required multiple stakeholders and well-grounded research.
The Transport authority was developed in 2003 for effective research and contemplation with measures regarding the ticketing system and managed by procuring a new ticketing system for public transportation. It was evident that a new ticketing solution had to be addressed in terms of responding to the increasing demand of commuters for public transport within Victoria.
The project was theorized with effective research and identifying the requirements for establishing a project of a new ticketing solution. The conceptualization was concluded when the findings were released in “A new Ticketing Solution” in April 2004. The business was determined and a project charter was published with an initial recommendation on the goods and services that needed to be provided, the potential rules and risks were documented with an effective cost and benefits analysis.
Planning Stage
The project was detailed with sound knowledge contemplated in terms of the Global trends and the suitability that the new ticketing system will offer along with the potential durability and ease of use. The project was detailed in terms of customer satisfaction regarding the use of public transport ticketing systems and the use of technology that will be effective by structuring the current fare systems along with the flexibility of using the system in both the metropolitan and regional services. The flexibility to ascertain to any alterations of government policies and legislation was allowed. The potential stakeholders and the project were deemed to be worthy of investment at this particular phase which would evolve the experience of the public transport commuters in Victoria.
The new ticketing solution was taken into consideration with effective research on the ticket system that was successful in London and Hong Kong. This was deliberately specified while researching the specific type of system that can effectively work out for the development of the ticketing system. It was specified that similar systems that existed internationally would benefit in the future in terms of technological advances and reduced the reliance of the system on one vendor and consequently different organizations were given different roles in the entire planning process for the new ticketing solution. The planning revealed that the benefits of the new ticketing system were estimated in terms of the economic benefits which were originally estimated at around $6.3-$10.8 million annually.
This system was planned to involve certain components like smart cards, devices, and back offices along with the related systems that will operate the entire process of the ticketing solution. The devices had to be installed in all the railway stations, drive consoles, fair payment devices, and station gates. The system also focused on payment devices and card vending machines that were installed for the better use of the new ticketing solutions (Alhassan et al., 2021).
Execution Stage
In the execution stage, there were several changes in the time and the outcomes of the entire process and the parts that were the subsequent aspects of the entire ticketing system. The original budget was significantly increased and over time, the significance was constantly increasing in terms of unexpected costs that were increasing from the extensive time taken to design and deliver the project. This increase in...