Project Risk Management Guide

Project Risk Management Guide

Project Risk Management PDF Guide
Project Risk Management PDF Guide 

Project Risk Management PDF Guide 

This document provides information to Project Managers, project teams, and staff involved directly or indirectly with project risk management. It provides:
  • Uniformity in project risk management activities. 
  • Techniques and tools for project risk management. 
  • Data requirements for risk analysis input and output. 
  • The project risk management role in overall project management. 
  • Guidance on how to proactively respond to risks.

Project teams can more effectively establish and fulfill expectations by understanding the risk. Assessing project risk informs decision-making during project development and delivery. These decisions contribute to public safety and clarify project expectations. 

Estimating the cost of transportation projects is fundamental to project design and development. In recognition of the importance of cost estimating, these guidelines provide consistent practices across the agency to enhance methods for meeting this responsibility. These guidelines were developed by the Strategic Analysis and Estimating Office (SAEO), with contributions from a number of specialists in cost estimating and project development. 

Estimators must be shielded from pressures to produce estimates that match preconceived notions of what a project should cost. Estimates are an objective opinion of cost based on project scope, project schedule, and bidding environment. Risk based estimating is a vital component of project risk management that benefits the projects we deliver. The backbone of risk based estimating is a sound base cost estimate.

Source: Washington State Department of Transportation
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