Growth strategies for rail networks in a volatile, uncertain, complex and ambiguous (VUCA) environment

• Main Author: Tan, Angel Hui Xian
• Other Authors: Teo Chee Chong
• Format: Final Year Project
• Language: English
• Published: 2017
• Subjects: DRNTU::Engineering::Civil engineering::Transportation
• Online Access: http://hdl.handle.net/10356/71098
• Institution: Nanyang Technological University

This report focuses on the rail development in India; which is the next most promising economy after China in BRICS. Through which, the challenges faced by the railways in India are identified and grouped into five main categories namely Coordination, Planning, Regulations, Investors Relations and, Volatility, Uncertainty, Complexity and Ambiguity (VUCA). Oil prices, currency performance, presidential election of huge economies (America) and major transport developments (OBOR) are factors that exemplifies the VUCA elements and will be discussed in the section on VUCA. Some of the strategies employed by the Indian Railways (IR) namely Own-Your-Own-Wagon Scheme (OYWS), Build-Own-Lease-Transfer (BOLT) and Dedicated Freight Corridor (DFC), have been identified and analyzed. Following, are two proposed recommendations which focus on improving connectivity, and the introduction of supportive regulatory and technical standards to solve the challenges faced. The move towards greener rail operation has been identified as a potential growth area in which IR may consider. This report draws upon mainly secondary sources including transport and business journals, statistics from government agency, research papers and business media reports. The proposed recommendations reflect the need to understand the key challenges that IR face while the identified growth area reminds IR to factor in environmental concerns while trying to achieve growth. The most detrimental challenge that IR faces is most probably its inability to attract investors’ participation.