Guide for the Process of Managing Risk on Rapid Renewal Projects (2012) / Chapter Skim
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Pages 40-48
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38 INTRODUCTION As described in Chapter 4, the base project describes the planned project scope, strategy, conditions, and assumptions. However, projects do not always go as planned, particularly when projects involve new or innovative methods like rapid renewal projects do.
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39 GUIDE FOR THE PROCESS OF MANAGING RISK ON RAPID RENEWAL PROJECTS RISK IDENTIFICATION • Set the stage for subsequent steps in the risk management process, which include -- Risk assessment (Chapter 6) ; -- Risk analysis, if needed (Chapter 7)
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40 GUIDE FOR THE PROCESS OF MANAGING RISK ON RAPID RENEWAL PROJECTS -- What could cause the risk to occur? (What are the causes or triggers, and how would they be recognized?
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41 GUIDE FOR THE PROCESS OF MANAGING RISK ON RAPID RENEWAL PROJECTS 2. Circulate base information to the participants beforehand.
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42 GUIDE FOR THE PROCESS OF MANAGING RISK ON RAPID RENEWAL PROJECTS To ensure a smooth and effective risk identification exercise, consider the following guidance (which parallels some of the previously identified principles) : • Document all credible possibilities outside the base set of assumptions to develop a comprehensive set of risks and opportunities (separate from potential risk management actions)
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43 GUIDE FOR THE PROCESS OF MANAGING RISK ON RAPID RENEWAL PROJECTS develop a more comprehensive, yet still usable, checklist of risk categories, or types of risks, that could occur for rapid renewal projects. This checklist of rapid renewal risk categories is presented in Appendix B: • The Risk Checklist for Traditional Transportation Projects section provides a summary of types or categories of risks for traditional (non–rapid renewal)
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44 GUIDE FOR THE PROCESS OF MANAGING RISK ON RAPID RENEWAL PROJECTS -- Table B.3. Environmental Process and Permits -- Table B.4.
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45 GUIDE FOR THE PROCESS OF MANAGING RISK ON RAPID RENEWAL PROJECTS Figure 5.2. Forms (Appendix C)
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46 GUIDE FOR THE PROCESS OF MANAGING RISK ON RAPID RENEWAL PROJECTS Example The hypothetical QDOT case study (see Appendix D) and associated risk management plan (RMP; see Appendix E)
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