Risk Management At The Colorado I 70 Monorail Project, A 155 Mile Transportation System

1201 WordsOct 25, 20165 Pages
Abstract This report applies proactive risk management to the construction of the Colorado I-70 Monorail project, a 155-mile transportation system from Denver, CO to Vail, CO. Risk events and impacts for the $7.5 billion project are identified based on the five-year construction schedule. Referencing “Proactive Risk Management” by P. G. Smith and G. M. Merritt, the standard risk model and the five-step risk management process are described and utilized. This report identifies and analyzes risks associated with the use of monorail technology, construction scheduling, and unexpected costs. Through the use and demonstration of Step 1 and Step 2 of the five-step process, risk likelihood and expected loss for each risk are developed. The results of Step 1 and Step 2 will be utilized in a subsequent report detailing risk prioritization, action plans, and monitoring risks. Project Overview Objective Risk management is an important task in ensuring the successful construction of the Colorado I-70 Monorail System. The intermediate speed monorail will run from the Front Range of Colorado to the heart of the Rocky Mountains. The fixed guideway rail system will connect existing public transportation systems in the Denver metropolitan area to multiple mountain communities. The route will parallel the existing interstate I-70 and will begin in Denver, CO and will end in Vail, CO. The objective of the monorail system is to alleviate traffic and improve access to the mountain regions

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