Guidance for Managing NEPA-Related and Other Risks in Project Delivery, Volume 1: Guide for Managing NEPA-Related and Other Risks in Project Delivery (2012) / Chapter Skim
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Pages 10-14
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8 | P a g e 2 Risk Management Framework While a variety of approaches can be used to reasonably identify, assess, and manage project risks, some approaches work better than others for highway projects. However, these approaches, which range from completely ad-hoc to very formal, all share a few fundamentals.
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9 | P a g e 2. Risk Identification: Once the base assumptions have been established and the project has been "structured" (in Step 1)
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10 | P a g e 4. Risk Analysis: If the risk factors have been assessed quantitatively (in Step 3)
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11 | P a g e developed to accomplish those actions. As the project develops and the risks (and their factors)
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12 | P a g e It is imperative to emphasize that risk management is a cyclical process, and the reanalysis of risk (and subsequent response planning, monitoring and control) must occur regularly, perhaps at major decision points in the project development process.
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