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Risk Assessment

Innovative Construction Projects

Significant hazard screening is an integral project element.

Ben C. Gerwick, Inc., in association Various types of risk assessments can all project activities by determining and
with professor C. A. Cornell, have re- be undertaken during the course of a quantifying safer, less costly alterna-
cently performed a risk assessment marine project. Typically, these phases tives and mitigation procedures with
study of an innovative construction include the feasibility, design and anal- minimized risk.
project on the U.S. Corps of Engineers ysis, plans and specifications, and
inland waterways system. This Risk construction phases.
Assessment Study was in support of
Tasks included in a formal risk
research efforts in risk assessment un- If comprehensive risk assessment data
assessment methodology are:
derway at the U.S. Army Engineer Re- are not available, data estimates can
Description of the project
search and Development Center be made. Historical data from exam-
(activities, schedule, locations
(ERDC), Waterways Experiment Station ples of similar marine construction
(WES). projects are a method of quantifying an
Identification of hazards.
independent check of risk assessment
Qualitative assessment of
Probabilistic techniques have devel- results.
hazard occurrence probability
oped in recent years into an effective Although informal risk evaluation and
and consequences.
means of assessing risk assumed dur- intuition have always been an integral
Screening of significant
ing major construction projects such part of construction management, for-
as to the innovative construction cur- mal risk assessments can significantly
rently under way on the inland water- influence major decisions throughout Quantitative analysis of
significant hazards.
ways system. It has been shown that
the innovative construction methods Evaluation of quantified risk.

being used are the most cost effective Identification and evaluation of
Ben C. Gerwick, Inc. 09-089e-02a

means of construction and are within risk mitigation strategies.

the current technical capabilities of the Implementation of mitigation
construction industry. Risk assessment strategies.
is a method that can identify, estimate, Iteration to include mitigation
quantify, and evaluate the risks associ- actions until project risks are
ated with these innovative construction acceptable.
Innovative construction project.