Risk Analysis and Management on Toronto Light Rail Transit Program Projects—A Case Study

摘要

Construction projects are typically exposed to socio-political, legal & environmental, operationalrnand market related risks increasing project costs and causing delays. A robust risk management plan provides arnproject with a systematic process for identifying, assessing, evaluating, managing and documenting risks thatrncould jeopardize the success of the project. This paper presents an application of a bottom-up risk managementrnapproach to the Metrolinx Toronto Light Rail Transit Program projects that identifies, quantifies and correlatesrnrisk and uncertainty, analyzing the collective impact of project risks using the Monte Carlo simulation techniquernto determine potential cost outcomes and associated confidence levels.