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- W560897276 abstract "In the past, many transportation projects have performed poorly (e.g., in terms of ultimate cost and schedule to completion), often because of unexpected problems. This might be amplified for rapid renewal projects, which are intended to accelerate schedule and minimize disruption through construction, without adversely affecting either costs through construction or postconstruction longevity. By definition, these rapid renewal methods typically are innovative, with little past experience from which to learn, and possibly more susceptible to poor performance. This guide presents a formal risk management process to better understand and to actually optimize project performance specifically for rapid renewal projects, especially by anticipating and planning for potential problems (risks) and potential improvements (opportunities). This process, which is a significant expansion of a previously developed risk management process for non–rapid renewal projects (for which the expanded process is also applicable), consists of a well-defined series of steps, each of which has been described in appropriate detail, including possible variations. Sufficient guidance is also provided to ensure compatibility and consistency among the various steps, and ultimately to ensure adequate accuracy and defensibility of results (where adequacy depends on how the results will be used), as efficiently as possible. The steps, which are sequential and in some cases iterative, include: structuring; risk identification; risk assessment; risk analysis; risk management planning; and risk management implementation." @default.
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- W560897276 date "2012-08-15" @default.
- W560897276 modified "2023-09-24" @default.
- W560897276 title "Guide for the Process of Managing Risk on Rapid Renewal Projects" @default.
- W560897276 doi "https://doi.org/10.17226/22665" @default.
- W560897276 hasPublicationYear "2012" @default.
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