A recorded webinar on "Contingency Allocation for Large Infrastructure Projects" is now available in the 'Webinars' section on our community website.
While Risk Analysis has been used predominantly in finance and insurance industries, its use in construction industry is maturing. As raising capital becomes increasingly competitive, organizations are looking at ways to optimize their cash reserves with the use of project risk management best practices. Over the years, public agencies had been allocating contingency to the projects based on empirical methods. Recently, some agencies have embraced Risk Management as a tool to identify, qualify, and use quantitative risk models to determine risk based contingency. This presentation discusses the life cycle of a risk management process, which has been helping projects in reducing uncertainty and proper forecasting of total project costs.
Mr. Francisco Cruz's experience spans cost control, cost estimating, scheduling management, risk management, and project management. His project experience includes infrastructure, pharmaceutical, mixed-use, corporate office buildings, and municipal projects. He has performed cost and schedule risk analyses on more than 40 infrastructure and pharmaceutical projects, including tunnels, airports, bridges, and ports totaling more than $1.9B. He currently serves as one of the leaders of the risk knowledge center within PMI Scheduling Community of Practice (PMI SCoP). He has a Masters in Construction Management, an Engineer in Training (EIT), a certified project management professional, a certified risk management professional, and a certified LEED Green Associate.
Mr. Mitul Parikh's experience spans cost estimating and control, scheduling management, claims analysis, risk management, and project engineering. His project experience includes infrastructure, residential and commercial projects. He has performed cost and schedule risk analysis on more than 30 infrastructure projects, including roads, tunnels, airports, bridges, and ports totaling more than $1.5B. He has a Masters in Construction Management, is a Professional Engineer, and a certified Project Management Professional.
This webinar was recorded on March 16th, 2012.
Stay tuned for the next webinar!
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