The Greatest Project Risk of All

摘要

The theme of this month's issue of Cost Engineering is risk. Risk, as we all know, is defined as, "the chance of loss or peril to the subject matter" or "the possibility of loss or injury." Cost engineers, regardless of their employer, are generally well schooled in identification of potential risks associated with given projects. They are trained to categorize risks into known-unknowns and unknown-unknowns. They are able to assess the probability of known-unknowns. Cost engineers know how to cost out probable risks and then formulate plans to avoid, abate, retain or transfer such project risks. This has been a basic part of cost engineering knowledge and practice for as long as cost engineering has existed.