Page 52 - Urban Construction Project Management
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Risk Assessment and Problem Solving 27
Project Name: Project # Exhibit 2-5
Risk ID: Risk assessment
Number in the log, often year, followed by project number and item number, e.g., 2008-017-00 form.
Classification: Risk category: high, medium, low, recurring, nonrecurring
Report Date: Reported By:
(The date the risk was reported)
Probability:
What is the likelihood of this risk adversely affecting the contractor?
Impact:
What is the damage if the risk becomes real?
Risk Exposure
Multiply probability times loss to estimate the risk exposure and potential cost.
First Indicator:
Describe the earliest indicator or trigger condition that might indicate that the risk is turning into a
problem.
Mitigation approach:
State one or more approaches to control, avoid, minimize, or otherwise mitigate the risk. Mitigation
approaches may reduce the probability or the impact.
Date Started: State the date the mitigation plan implementation was initiated.
Date to Complete: State the date by which the mitigation plan is to be implemented.
Person Responsible:
Assign each risk mitigation action to an individual for resolution.
Current Status:
Describe the status and effectiveness of the risk mitigation actions.
Contingency Plan:
Describe the actions that will be taken to deal with the situation if the risk factor develops into a
problem.
Trigger for Contingency Plan:
State the conditions under which the contingency plan will begin to be implemented.
Signed:
