Analysis of Washington State Department of Transportation Risks

Abstract

Risk management is an important part of ensuring the successful delivery of major transportation projects. The first step in the risk management process is to identify the risks facing the project team so they can proactively complete the remaining steps: analyzing the severity; choosing how to respond; and controlling the level of risk throughout the lifecycle of the project. Although some state agencies have been practicing risk management for nearly two decades, little analysis of the risks identified during project development has been done. This study analyzes the risk registers pertaining to 51 major transportation projects undertaken by the Washington State Department of Transportation valued at approximately $7.7 billion to determine the distribution of risks among categories in the risk breakdown structure and find the most common risks in each category. The findings were then explored through interviews with industry professionals to gain insight into the results, add context, and illustrate the importance of identified risks. The results contribute to a better understanding of the risks facing transportation departments and lay the foundation for a more comprehensive risk identification step at the project level.