Risk assessment in fixed guideway construction. Final report
Technical Report
·
OSTI ID:5053333
The objective of the report is to help the owner or sponsor in developing a framework for managing risk in the design and construction of fixed guideway transit projects. Risk, as used in the context of the report, is defined primarily as the potential for monetary loss resulting from uncertainty about the project. In order to develop the risk management framework, first the sources of risk must be identified and categorized. Then a measurement system should be used to quantify the risk. Finally, each risk item should be allocated between the parties involved in an equitable manner. If the project risks can be identified in a timely manner, quantified in a logical way, and allocated properly between the project participants (sponsor, owner, contractor, and engineer), then the likelihood of significant cost and schedule overruns will be reduced considerably.
- Research Organization:
- Northeastern Univ., Boston, MA (United States)
- OSTI ID:
- 5053333
- Report Number(s):
- PB-94-151099/XAB; NU--94-11; CNN: FTA-MA-26-0022
- Country of Publication:
- United States
- Language:
- English
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