Developing the "Guide for the Process of Managing Risk on Rapid Renewal Projects" (2014) / Chapter Skim
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35 A p p e n d i x C Research was conducted to ascertain what gaps exist in the current FHWA Risk Guide and associated implementation materials with respect to application in rapid renewal projects. The gap analysis leading to the development of a detailed work plan (Task 1)
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36 contingency becomes linked to risk management in the estimating phase of project development. In the early planning stages of a project, contingencies represent the project's uncertainties.
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37 Table C.3 summarizes the use of ranges by agencies to communicate estimates. The results of the survey showed that over half the states were using ranges to communicate estimates.
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38 Table C.4 shows the contingency breakdown based on type of estimate. Caltrans has developed a capital project risk management process, which is intended to result in the effective management of project risks (threats and opportunities)
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39 design level. These levels indicate to design managers, in very general terms, how much confidence they can have in project information currently available to them.
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40 Table C.8. Washington State Sliding-Scale Contingency Project Phase Miscellaneous (%)
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41 Table C.9. Rapid Renewal Elements from Previously Conducted Risk Assessments by Golder Associates Inc.
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42 Utah DOT I-15 South Yes • Design–build delivery. • Early utility relocation.
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43 (continued on next page) Table C.10.
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44 Table C.10. Suggested Revisions or Updates to FHWA's Guide to Risk Assessment and Allocation for Highway Construction Management (Risk Guide)
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45 Table C.10. Suggested Revisions or Updates to FHWA's Guide to Risk Assessment and Allocation for Highway Construction Management (Risk Guide)
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46 Table C.11. Suggested Revisions or Updates to Implementation Materials Location Suggested Revision or Update Reason Reference New Module 8 Add a module discussing application specifically to rapid renewal projects.
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