Guidebook on Risk Analysis Tools and Management Practices to Control Transportation Project Costs (2010) / Chapter Skim
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Pages 70-75
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From page 70... ...
Implementation requires that all five steps be applied to integrate risk management into other agency processes that impact project cost and control these costs over the project's development phases. Although risk management integration with other agency processes can begin at the organizational level, ultimately all levels must participate to create the cultural change necessary to address the challenges from instituting risk management at the organization, program, and project levels.
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From page 71... ...
In either case, typical functions of the risk management support group could include, but not be limited to, developing policy, training materials, supporting risk applications on projects, and communicating risk related information to users. Setting up an organization structure to implement risk management requires support and decisions from upper management of the agency.
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From page 72... ...
This assessment should be conducted by project development phase such as for the programming phase as indicated in Table 8.2. Current use should consider not only if the particular step is being used, but also the level of understanding of the step and how it is being applied in practice.
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From page 73... ...
2008) Example guidelines to implement these general policy statements are: Uncertainty, risk and associated contingencies will be acknowledged early for all projects in the project development process, starting with the planning phase, and updated in subsequent phases.
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From page 74... ...
Example assessment of programming phase tools. Tools Examples of Use Subject Matter Experts Comments on Future Implementation Identification of Risks I2.1 Red Flag Items I2.3 Risk Checklists Risk Analysis R3.1 Risk Management Plan R3.2 Contingency -- Percentage R3.3 Contingency -- Identified Additional Tools Additional Tools
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From page 75... ...
Responsible Party and Performance Measurement Planning Risk Identification – Develop appropriate tools to support the identification of risks Red Flag Items – Develop tool application approach for documenting identified risks Program or party responsible for implementation with performance measurement Planning Risk Assessment/Analysis – Develop tools that provide for a contingency estimate Contingency Percentage – Prepare guidance for selecting contingency values consistent with planning phase Program or party responsible for implementation with performance measurement Planning All Steps Training – Develop training modules to incorporate risk identification and risk assessment/analysis for contingency applications for planning Program or party responsible for implementation with performance measurement Continue with Programming Phase… Continue with opportunity/actions from methods… Continue with implementation steps from tools… Continue with assignment of responsibilities and measures
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