Background & Objectives: This paper presents risk management of a rolling stock process during the excavation of a long tunnel. Methods: Risk analysis with was conducted by MFMEA method using QS9000 and SAE.J1739 recommendations. Eight failure modes were postulated and the effects of each failure were determined. Potential reason and probability of failure and risk priority number of each failure were calculated using their severity rates. All the hazards were ranked based on their risk numbers. Effectiveness of recommended preventive measures was determined. Results: The results revealed that all studied failures have the highest severity rate of 10, being ranked as critical. Wheel abrasion had the highest likelihood of 6, and the longitudinal breakage of rail had the lowest detection rate of 6. The lateral leveling held the highest risk priority number of 200. Conclusion: It was concluded that the risk management has a significant influence on reducing accidents at workplaces such as tunneling.