Risk management allows construction professionals to identify the risks inherent in all projects, and to provide the tools for evaluating the probabilities and impacts to minimize the risk potential. This book introduces risk as a central pillar of project management and shows how a project manager can be prepared for dealing with uncertainty. Written by experts in the field, Risk Management for Design and Construction uses clear, straightforward terminology to demystify the concepts of project uncertainty and risk.
Highlights include:
Integrated cost and schedule risk analysis
An introduction to a ready-to-use system of analyzing a project's risks and tools to proactively manage risks
A methodology that was developed and used by the Washington State Department of Transportation
Case studies and examples on the proper application of principles
Information about combining value analysis with risk analysis
"This book is a must for professionals who are seeking to move towards a proactive risk-centric management style. It is a valuable resource for students who are discovering the intricacies of uncertainties and risks within value estimation. For professionals, the book advocates for identifying and analyzing 'only' risks whose impact are of consequence to a project's performance."
—JOHN MILTON, PhD, PE Director of Enterprise Risk Management, Washington State Department of Transportation