Risk and Cost Management Hundreds of billions of dollars are invested in new and renovation construction projects every year. Most of the major decisions regarding these investments must be made at the earliest stages of planning and project development. These decisions will directly impact project costs, quality and schedule. Some public owners and private developers frequently make these significant decisions on a very limited amount of information, often leading to problems and project failures. This course is designed to review the key elements of the construction planning process. It examines the critical decisions that must be made regarding cost estimates, budgets, schedules, quality control, insurance, bonds, risk allocation, value engineering and construct-ability. The course is intended to provide construction professionals with an opportunity to benefit and learn from the past experiences of professional construction planners. It allows participants to evaluate the processes by which they develop, budget, and control their projects. It provides important guidelines for early decision making and interpretation of critical project information. The course will also identify some of the crucial elements of project risk-management and discuss ways to allocate and manage these risks through informed management of budgets and schedules.
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