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Risk Management

Risk Management Tool for Managing the Planning / Environmental Phases of Prospective Major Projects

FHWA recommends that sponsors of major projects begin the risk management process while projects are in the planning and environmental phases. This document provides a model of an appropriate risk management approach for the replacement of "Big Bridge" over the Big River in Cavalier City. It is organized around an updated and refined version of the "Checklist of Major Project Questions for DAs to Use during Planning/Environment Stages," which FHWA issued in January 2006. This type of risk management inventory should be prepared close to the date of publication of a Notice of Intent for NEPA, in close consultation with the State DOT. The FHWA Division should update it, in consultation with the State DOT, at major points in the planning/environmental process, including DEIS, FEIS, and MPO Plan updates or amendments.

NHI Risk Management Course
Offered by the National Highway Institute, this course provides an understanding of risk management concepts and processes, including terminology, benefits of use, risk management planning, and a framework for implementation. The course presents a cyclical risk management framework through classroom training and an independent study assignment, focusing on gathering information; identifying risk; analyzing and prioritizing risk events; documenting risk; identifying risk response strategies; incorporating response strategies into a plan; and monitoring, evaluation, and adjustment of strategies.