Risk is inherent in the design and construction industry. Successful project outcomes are dependent on unbiased understanding of project risks.
Resources to assist in understand potential risks:
- Summary of common risks between an Owner, Architect, Engineer, Construction Manager and Trade Contractor, an outcome from Cogence Alliance, January 2016 (PDF)
- Analysis of how, when and to what extent project stakeholders experience risk, an outcome from Cogence Alliance, March 2016. (Cogence Industry Risk Summary 2016.05, Welty’s Document)
- “What can project teams do to mitigate the conditions and factors that drive uncertainty, and how can owners adjust their expectations of project team performance to align with reasonable, achievable metrics hat truly benefit the project?” Managing Uncertainty and Expectations in Building Design & Construction.
Tools to identify and manage potential risks:
- Maximizing Success in Integrated Projects An Owner’s Guide. This guide walks you through a process to determine the proper project delivery method for your project.
- Risk Identification & Analysis Procedures