John continues to work on advancing our understanding of risk management, reported in papers at Conferences in 2015 (ITA Dubrovnik and RETC New Orleans) and to be presented in 2016 at the ITA WTC2016 Conference in San Francisco.
While the basics of risk management are now generally well understood, its application to contracting and procurement and the construction phase of projects is not routine or generally well applied.
The following areas will be addressed:
Risk Management – basic principles
(summary from John’s previous papers, book chapters, presentations):
Application of risk management procedures
- in planning
- in design
- in construction
Examples of risk management from projects John have been involved with, such as
- Metro Green Line Los Angeles
- Sir Adam Beck tunnel, Niagara
- Washington State Megaprojects
(CEVP development and applications) - Lake Mead risk management process
Address and elaborate on current issues of concern:
- reluctance of some owners to embrace risk management
- reluctance of some contractors to share risk management information
- what to include in the contract/proposal documents (e.g. risk registers)
- what to require of the contractors by contract provisions
- how to manage the risk environment (owner-designer-contractor) in construction
- what are the insurers concerned about (requires contacts/survey)
Focus areas to be addressed:
- How to characterize and address inter-dependent / correlated risks
- in planning
- in design
- in construction
- – How to address the “blackswan” low probability / high impact events
- – How to address political and external events (beyond the control of managers)