Managing and reducing risk in accelerated highway construction projects.
Managing Risk in Rapid Renewal Projects (R09)
 For technical details, go to the fact sheet. |
Challenge
Rapid renewal transportation projects are specifically intended to minimize the delivery schedule and disruption during construction, while not adversely affecting project cost and longevity. Managing risk in a rapid construction environment necessitates complex logistical requirements, complicated contracting procedures, and environmental permitting processes that need careful planning and consideration from project start to finish. Successful project completion means applying innovative contracting strategies in which risk is identified, mitigated, and transferred to the best qualified organization. Setting a project up for success during construction begins with conscientious consideration of risk at the earliest stages of project development.
Solution
SHRP2 has developed technical training materials, guides, and a handbook to help transportation agencies gain an understanding of the risks associated with rapid renewal projects. These tools provide objective guidance on implementing risk management procedures for various contracting methods. Training materials present practical guidance for applying risk management techniques to the rapid renewal project development process consistent with State transportation agency business practices.
Benefits
The guidelines and training materials provide agencies with a greater understanding of potential risks associated with rapid renewal projects, as well as possible mitigation strategies. Training materials will assist transportation agencies with integrating this planning approach on a broader scale.
This product was also part of Round 1 of the Implementation Assistance Program. Additional information is available in a recorded webinar about Round 1 Renewal products.