Speakers: Kamran Hazini PhD, PE & Craig DeLalla
TOPIC: Sound Transits New Developed Programmatic Risk Assessment Process
Quantitative risk assessment (QRA) is a numerical method to analyze risks and uncertainties and measure confidence in completing any given project within its approved schedule and budget. Project risks are a critical input to this analysis in which their probability and impacts are discussed during the workshops and included in the risk models. Although independent, concurrent projects may introduce risks especially for owner organizations, such as Sound Transit, executing several mega-projects. Excluding these program risks could potentially result in an inaccurate project level risk profile. Examples of such risks include shortage of shared critical resources for testing/startup, supply chain issues, operations staff hiring rates, multiple complex rail activation activities and lack of contractor/subcontractor/consultant capacity.
This presentation provides an overview of a new programmatic quantitative risk assessment initiative developed and executed in Sound Transit. This new approach adds an analysis of program risks to quantify the cascading impacts of concurrent delivery of EastLink, Downtown Redmond Link, Lynnwood Link, and Federal Way Link Extension projects.
Location: Renaissance Seattle Hotel
To register:
https://aaceseattle2023-03-09.bpt.me/
PLEASE NOTE: If you would like to be added to the Seattle Section’s mailing list to receive future notices about our meetings and events, please contact one of the presiding Officers or Directors. Visit the AACE Seattle Section on our new website at www.aaceseattle.org Anybody interested in budget control, claims management, cost engineering, cost estimating, earned value management, planning and scheduling, project control, project management, value engineering, or risk management in any industry is cordially invited. AACE Seattle Section normally meets the 2nd Thursday of each month from September through June. Each meeting with a technical presentation qualifies for .25 Continuing Education Units (CEUs).
This presentation provides an overview of a new programmatic quantitative risk assessment initiative developed and executed in Sound Transit. This new approach adds an analysis of program risks to quantify the cascading impacts of concurrent delivery of EastLink, Downtown Redmond Link, Lynnwood Link, and Federal Way Link Extension projects.