01089312

Component

This paper presents an evolutionary process of integrating risk management into the FFederal Transit Administration's (FTA's) new-start transit project program. New-start transit projects generally request Federal funding assistance through the Federal Transit Administration (FTA). FTA funding commitments occur early in the project's development, and as such the project is subject to significant risk which has historically caused early estimates to be unreliable. To provide more reliable funding commitments and to better inform decision makers, the FTA introduced risk-assessment requirements in 2002. Results from the earliest efforts indicated two areas for improvement: a more holistic method for risk assessment, and a better integration of risk management into standard project management practices. While there are insufficient results to date to fully validate this new process, the purpose of this paper is to provide information of background and methodology to industry risk practitioners and researchers.

01084478

08-0426

English

16p

2008

Transportation Research Board 87th Annual Meeting

DVD

Figures (7) ; References (18) ; Tables (1)

Methodology; Oversight; Project management; Public transit; Risk assessment; Risk management

U.S. Federal Transit Administration

Project development; Transit projects

Administration and Management; Finance; Public Transportation; Safety and Human Factors

Transportation Research Board Annual Meeting 2008 Paper #08-0426

TRIS, TRB

Jan 29 2008 2:47PM