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• W610073733 abstract "development is a core function of state departments of transportation (DOTs), yet as a discipline project management is too often ignored. DOT executive leaders are understandably preoccupied with myriad other management priorities, such as funding, labor issues, maintenance and constituent relations. At the same time, there are specific institutional challenges to effective project management by state DOTs, such as ever-changing state and federal regulations, the attrition of experienced senior staff, and the financial lure of private sector employment for the most effective DOT project managers. All of these in themselves are risks to be managed by DOT executive leadership. It is time for DOTs to understand and embrace risk management, because it is elemental to a DOT’s core function, and risk management can avoid mistakes which cost agencies time, money and credibility. Risk management is good project management, and FHWA has been promoting risk management for a number of years. As indicated earlier, formal guidance was provided by FHWA through a memorandum to Division Administrators in 2007 and many FHWA project management guidance documents include risk management principles. The National Highway Institute offers a course in risk management (FHWANHI-134065) and private sector guides, such as the Management Institute’s Project Management Body of Knowledge (PMBOK®) Guide, offer very good resources for project management in any field. Perhaps the biggest misconception is that risk management is only suited for “mega projects,” such as those exceeding $500 million. But every highway project is unique in its own right, regardless of cost, and while the risks involved in developing an $80 million project may indeed be less involved than the risks involved in a “mega project,” the consequences to schedule, budget, quality and agency credibility are every bit as real. risk management is not a new field of study, and the complexities of federal-aid project development beg for risk management solutions. DOT executive leaders are encouraged to embrace risk management as part of their overall program delivery processes, and use the guidance in this report to examine their own programs and processes for risk management opportunities, as part of improving overall service to the public." @default.
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• W610073733 date "2012-02-19" @default.
• W610073733 modified "2023-09-27" @default.
• W610073733 title "Guidance for Managing NEPA-Related and Other Risks in Project Delivery, Volume 1: Guide for Managing NEPA-Related and Other Risks in Project Delivery" @default.
• W610073733 doi "https://doi.org/10.17226/22823" @default.
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