5.4: Accept Bullring team accepted some risks; however, the company developed the effective cost and schedule strategies to manage these risks. For example, the company allotted sufficient fund to militate against risks associated with the project costs and schedule. Table 2 presents the compressive list all the risks deemed to affect the outcome of the Bullring project. Table 2: Associated Risks on the Project Cost Related Risks: Index Scores Tight project schedule 0.67 Design variations 0.49 Project variations from

Chapman (2001) equated the dangers explained within the Central Computer and Telecommunications Agency Publication "Management of Project Risk" into the design threats that included however were not restricted to "trouble in catching and pointing out the individual requirements," "problem of approximating the time and resources needed to finish the design," "trouble of gauging development throughout the advancement of the design." Chapman likewise specified that the design group's thorough expertise

"Brainstorming, scenario planning, and expert interviews is the tools highway engineers commonly use in routine engineering and construction management tasks." (U.S. Department f Transportation 2007 P. 2). Table 3 reveals the summary of the tools and technique in the risk identification process. Table 3: Risk identification tools and techniques PROJECT-SPECIFIC DOCUMENTS PROGRAMMATIC DOCUMENTS TECHNIQUES Project description Work breakdown structure (WBS) Cost estimate Construction schedule Procurement plan Team issues and concerns Historic data Checklists Final project reports Risk response plans Organized lessons learned Published commercial databases Academic

In addition, Sound Transit has installed eight sensing devices for the building, including probes that would register any soil shifting at the tunnel depth. Such alerts would allow Sound Transit time to apply extra grout between the tunnel and the apartment building's basement. 6. Output Analysis and Discussion Here, Sound Transit has taken reasonable and economically feasible precautions to reduce the risk of damage from soil sliding. At this point, the remaining

Construction Project Planning Phase Your clients have secured the financing to develop 48 acres land into mixed-use buildings. They have asked you to draft a high-level project plan to begin the more detailed discussions. Forty percent of the site is an undeveloped field, and the project must include a nursery school. Where should you begin? Based on your readings and your experience, identify the approach you would take to drafting this high-level plan. Describe

(in its turn, the financial environment must be understood with reference to the wider economic situation.) Cost control is the activity which compares cost performance against the cost plan, adjusting one or the other dynamically by reference to the changing circumstances in the project's financial environment. (Hughes, 1991, p.1) 2. Time Control -. Timing is influenced by many environmental factors, but the client's attitude to the timing of the project