Risk analysis for transportation projects

This paper discusses application of risk management to transportation projects. Insufficient attention to risk management can lead to significant cost overruns and schedule delays. Successful risk management depends on proper planning and execution. A risk register based approach is a useful starting point, but is insufficient for determining the extent of cost and schedule risk. Using additional analytical tools, such as scheduling software and risk analysis add-ins to spreadsheets, it is possible to develop quantitative measures of cost and schedule risk.