Control of Project Risk For Owners

Full Description

Maximum and most effective control of Owner’s project risk requires a risk planning and management culture integral to the project controls disciplines of cost and time management. There is no simple one-step process, but rather a proactive and planned effort. The approach includes special attention to specific high-risk areas of construction management including scope definition, type of contract, contractual language used in the contract, the choice of project delivery method, the change management process, the quality and experience of the CM team, the procurement process, an integrated cost and schedule management approach using risk workshops to provide high value input into the program. Success correlates with collaboration among the full construction team, and a strong integrated cost/schedule/risk approach improves collaboration.