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Guidebook on Risk Analysis Tools and Management Practices to Control Transportation Project Costs (2010) / Chapter Skim
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Pages 44-50

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From page 44...
... 5.1.2 Planning Phase Risk Management Emphasis The risk management process begins during the planning phase. As shown by the shading in Figure 5.1, risk identification is the primary focus of the risk management process during the planning phase.
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From page 45...
... Tool M in or (N /A ) M od er at el y C om pl ex M ajo r I2.1 Red Flag Items I2.3 Risk Checklists I2.4 Assumption Analysis I2.5 Expert Interviews I2.6 Crawford Slip Method I2.7 SWOT Analysis R3.1 Risk Management Plan R3.6 Risk Workshops R3.11 Risk Breakdown Structure R3.12 Risk Register
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From page 46...
... . 5.2.4 Planning Phase Risk Identification Relationship to Project Complexity Minor projects are typically not identified as individual projects until the programming phase or later.
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From page 47...
... Please see Chapter 6, Section 6.3.4 for a more detailed description of how risk analysis and contingency estimation are related to project complexity at the programming phase. 5.3.5 Planning Phase Risk Assessment and Analysis Tips A clear understanding of risk significance is helpful in the planning phase.
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From page 48...
... 5.4 Planning Phase Risk Mitigation and Planning The objectives of risk mitigation and planning are to explore risk response strategies for the high-risk items identified in the qualitative risk assessment or quantitative risk analysis. The process identifies and assigns parties to take responsibility for each risk response.
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From page 49...
... 5.5 Planning Phase Risk Allocation The goal of risk allocation is accomplished by contractually assigning risks to the party that is best able to manage them. Risk allocation efforts do not typically begin until the programming phase and are most intensive during the design phase.
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From page 50...
... 5.6.4 Planning Phase Risk Monitoring and Control Relationship to Project Complexity A Red Flag Item (I2.1) list should only be applied for risk monitoring and control on those projects where planning resources are constrained.
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Key Terms

  • phase risk
  • risk allocation
  • planning phase
  • risk mitigation
  • design phase

  • planning tips
  • analysis tips
  • analysis inputs
  • identification relationship
  • allocation relationship

  • control relationship
  • programming phase
  • risk identification
  • risk monitoring
  • risk planning

  • swot analysis
  • risk registers
  • monte carlo
  • flag item
  • risk register

  • risk events
  • risk checklist
  • risk analysis
  • identification process
  • risk response

  • analysis relationship
  • planning inputs
  • planning outputs
  • planning relationship
  • control outputs


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