Risk Management on Large Capital Projects

The three major processes of project risk management are risk identification, risk quantification and risk response. This paper provides guidelines for using these processes on large capital projects. Risk identification consists of determining what risks could have a positive or negative effect on the project and documenting them. Risk quantification requires that a risk evaluation procedure be established to measure potential risk. Risk response involves creating a risk management plan that allows for rapid responses to risk. The paper provides examples of various risk elements and outlines how to document, respond to and mitigate each one.

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/issn/10523928
• Authors:
  • Turnbaugh, Lisa
• Publication Date: 2005-10

Language

• English

Media Info

• Media Type: Print
• Features: Bibliography; Tables;
• Pagination: pp 275-280
• Serial:
  • Journal of Professional Issues in Engineering Education and Practice
  • Volume: 131
  • Issue Number: 4
  • Publisher: American Society of Civil Engineers
  • ISSN: 1052-3928
  • EISSN: 1943-5541
  • Serial URL: http://ascelibrary.org/journal/jpepe3

Subject/Index Terms

• TRT Terms: Budgeting; Cost accounting; Guidelines; Management; Project management; Risk assessment; Risk management; Time management
• Uncontrolled Terms: Capital projects; Change management
• Subject Areas: Administration and Management; Finance; Highways; Planning and Forecasting; Safety and Human Factors; I21: Planning of Transport Infrastructure;

Filing Info

• Accession Number: 01005641
• Record Type: Publication
• Files: TRIS
• Created Date: Oct 14 2005 12:20PM