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<br />RISK MANAGEMENT <br />Risk analysis and management is critical to deliver projects within budget and on schedule. Risk analysis <br />involves replacing traditional cost contingency with a risk-based contingency. Risk items (both threats and <br />opportunities) are quantified and tracked in a risk registry and the monthly progress reports. Risk items <br />can then be proactively mitigated and managed by the Project Manager to control project budget and <br />schedule. Additionally, the City could opt for a risk workshop which brings the key disciplines together to <br />further analyze the schedule and cost risks. This process culminates in a Monte-Carlo simulation providing <br />cost and schedule ranges and rationally developed contingency. H&H has successfully completed in three <br />risk workshops in the past year. <br />H&H has performed a preliminary FDOT Risk Based Graded Approach Worksheet for the Bridge Park <br />project below: <br />The H&H project approach has limited the <br />result of the Risk Assessment to Medium Risk <br />for the Bridge Park. <br />Risk Mitigation Summary: <br />• #1 Utilities – We have added subsurface <br />exploration to the scope to minimize this risk. <br />• #2 Project Schedule – Analyzed schedule to <br />provide more time for critical path activities. <br />Simple design minimizes Independent Peer <br />Review schedule risk. <br />• #12 Public Involvement – Added Public <br />Involvement experts MRG to guide us through <br />the public outreach. <br />• #15 Constructability - Integrated design <br />approach to simplify construction and <br />maintenance of traffic. <br /> <br />ITEM <br /># <br />RISK <br />ELEMENT <br />RISK <br />ASSESSMENT <br />RISK <br />PRIORITY <br />RISK <br />TOTAL <br />1 UTILITIES 3 5 15 <br />2 PROJECT SCHEDULE 3 5 15 <br />3 COORDINATION 3 3 9 <br />4 ENVIRONMENTAL 1 3 3 <br />5 CONTAMINATION 1 1 1 <br />6 REGULATORY INVOLVEMENT 3 3 9 <br />7 RESOURCE AVAILABILITY 1 1 1 <br />8 MATERIAL AVAILABILITY 1 1 1 <br />9 EXPERIENCE / CAPABILITY 1 3 3 <br />10 PROJECT FUNDING 3 3 9 <br />11 POLITICAL VISIBILITY 5 3 15 <br />12 PUBLIC INVOLVEMENT 5 5 25 <br />13 SAFETY 1 1 1 <br />14 RIGHT OF WAY 1 1 1 <br />15 CONSTRUCTION / CONSTRUCTABILITY (MOT)5 5 25 <br />16 MAINTENANCE 3 3 9 <br />17 TOLLS 1 1 1 <br />18 TECHNOLOGY 1 5 5 <br />19 FACILITIES / ARCHITECTURE 3 3 9 <br />20 OTHER 1 1 1 <br />PROJECT <br />RISK SCORE 158 <br />Project Risk Score = 0 - 120 Low Risk <br />Project Risk Score = 121 - 200 Medium Risk <br />Project Risk Score = > 200 High Risk