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49 complexity. Not all projects will require a comprehensive and Table 5.4. Planning phase quantitative risk management process. The creation of a Risk risk allocation tools. Register (R3.12) is a formal identification of risks. A risk reg- ister can be applied to all projects that are identified during Tool Moderately Complex the planning phase. The risk register provides planners with Minor Major (N/A) a listing of significant risks and includes a variety of informa- tion for each. The risk register creates a concise tool to man- age the risks and the individuals assigned to each risk. D1.2 Delivery Decision Support Major projects identified in the planning phase will bene- fit from having a detailed and formal Risk Management Plan (R3.1) that records all aspects of risk identification, risk as- which includes descriptions of numerous alternative project sessment, risk analysis, risk planning, risk allocation, and risk delivery methods. information systems, documentation, and reports. Major projects should use a register that is integrated into the for- 5.5.3 Planning Phase Risk mal Risk Management Plan (R3.1). Allocation Outputs The likely output of the risk allocation step at the planning 5.4.5 Planning Phase Risk Mitigation phase will be an analysis of possible project delivery methods. and Planning Tips However, the output will vary with the nature of the project. Risk mitigation and planning will apply to those projects At the highest level of detail, a project delivery decision report that are specifically identified during the planning phase. can be generated that analyzes risk allocation in terms of proj- ect characteristics (e.g., cost, schedule and quality issues), Document the risk mitigation and planning efforts at a agency characteristics (e.g., available staffing level, staff expe- level of detail that is appropriate for the level of project def- rience, etc.), market characteristics (e.g., market availability, inition, project complexity and resources available for market experience, etc.) and stakeholder characteristics. The Planning Phase efforts. final project delivery decision will not likely be made until the Rigorous documentation of risk mitigation and planning programming phase. in the Planning Phase will assist in scoping during the Pro- gramming Phase. 5.5.4 Planning Phase Risk Allocation Relationship to Project Complexity 5.5 Planning Phase Risk Allocation Alternative delivery methods will only be explored on major The goal of risk allocation is accomplished by contractu- projects during the planning phase. ally assigning risks to the party that is best able to manage them. Risk allocation efforts do not typically begin until the 5.5.5 Planning Phase Risk Allocation Tips programming phase and are most intensive during the design phase. However, some major projects that are identified in Risk allocation discussions can assist in appropriate proj- the planning phase will identify, or explore, project delivery ect delivery method selection. and contracting options. For a detailed discussion of these projects, please refer to the risk allocation discussion in the Document risk allocation discussions in the planning phase programming phase, Section 6.5. to assist in making final project delivery and contract pack- aging decisions in the later phases. 5.5.1 Planning Phase Risk Allocation Inputs 5.6 Planning Phase Risk Risk allocation inputs at the planning phase include the Monitoring and Control outputs from the first three steps in the risk management process plus an examination of the available/allowable proj- The objectives of risk monitoring and control are to: sys- ect delivery options for the project. tematically track the identified risks; identify any new risks; effectively manage the contingency reserve; and capture lessons learned for future risk assessment and allocation 5.5.2 Planning Phase Risk Allocation Tools efforts. The application of risk monitoring and control will As seen in Table 5.4, the only tool that applies in the plan- vary greatly with the level of project definition during the ning phase is the Delivery Decision Support (D1.2) tool, PLANNING PHASE. Risk monitoring and control effort