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Risk Management for Design and Construction

Product Code/ISBN: 9781118130162

Risk is always at the forefront of construction whether that be risk to your employees or financial risk that you might take on in a project. This manual can help you identify some of the more prominent risks in the trade but also provide the tools for you to evaluate and minimize the risk potential. Information is provided through real-life case studies and examples for your to apply in our own projects.

Table of Contents



  1. Why and What is Risk Management?
    1. Introduction
    2. What is an Estimate?
    3. What is Uncertainty?
    4. What is Risk?
    5. What is Risk Management?
    6. Why Risk Management?
    7. The Limitations of Risk Management
    8. Objective of This Book
  2. Project Cost and Schedule Estimates
    1. Introduction
    2. Cost Estimating Methodology
    3. Cost Estimating Process
    4. Cost Estimating Data
    5. Cost Estimating and Project Development Level
    6. Estimate Documentation
    7. Basis of Estimate
    8. Conclusion
  3. The Risk-Based Estimate
    1. RBE – The Process
    2. Risk-Based Estimate – How it Works
    3. Base Cost and Schedule
    4. Risks as Events
    5. The Micro-Project
    6. Eastside Corridor Program
    7. RBE and Estimate Accuracy
    8. Conclusions
  4. Risk Elicitation
    1. Importance of Elicitation for Project Risk Management
    2. Elicitation and Biases
    3. Risk and Base Variability
    4. Risk Conditionality
    5. Summary
  5. Risk Management
    1. Introduction
    2. Risk Response Planning
    3. Value Engineering and Risk Management
    4. Risk Monitoring and Control
    5. Summary
  6. Risk-Based Estimate Self-Modeling Spreadsheet
    1. Overview
    2. Model Accuracy
    3. RBES – Cost and Schedule Data Input and Output
    4. Risk Conditionality and RBES
    5. Model Outputs
    6. Risk Management
    7. Critical Issues
    8. Tutorials/Case Studies
    9. Summary
  7. Risk-Based Estimate Workshop
    1. Introduction
    2. Preworkshop Activities
    3. Conditioning Workshop Participants
    4. Workshop Objectives
    5. Risk Identification Process
    6. Postworkshop Activities
    7. Everyone Has Duties
    8. Helpful Hints
    9. Sample Questions to Ask
    10. Index