FTA Oversight Procedures - Federal Transit Administration - U.S. ...

milestones, the value of expected mitigation at this milestone measured by comparing the
change in values forecasted by model at this and the previous milestone.
An example statement in this subsection is:
“For this milestone, the risk model forecasts a mean value of $664.1 million and a variance
of $92.1 million, compared to $729.0 million and $107.3 million, respectively, from the Q3
2006 baseline milestone. Thus, the expected value of “perfect” mitigation at Q4 2006 –
Entry into Final Design is equal to $64.9 million in mean value and $15.2 million in
variance.”
• Basis for Project Risk Treatment Status.
• Primary Mitigation: Time phased, or scheduled mitigation with milestones.
• Inclusive of PMP or other management plan sub‐deliverables.
• Such mitigation scope shall be segregated by Requirements, Design, Market/bid,
Geotechnical/Utility Construction, Mid Range Coordination Construction, and Start up.
Further, Risk Elements within this segregation will be uniquely identified for tracing
disposition that will preserve the characteristic as a requirements risk, etc.
• There shall be a data table that presents the effect of mitigatable components of cost
estimate adjustments and entrance and exit beta values as well as the associated
mitigation scope element.
• Reported reductions of risk in the form of Beta cannot be combined. An example is
reporting a reduction in Beta for both requirements and design risk instead of separate
reporting and disposition.
• Secondary Mitigation: Event based or “triggered” mitigation.
• Qualifying events.
• Tertiary Mitigation: recharge activities.
• Basis for surveillance plan activities and outcomes.
• Plan for testing the implementation and effectiveness of Grantee mitigation measures and
external effects on the Federal project.
• Conclusion.
• Appendices as required, including Risk Register Summary and Analysis
The purpose of this section is to present the level 3 model and forecast as well as
contractor’s analysis, inclusive of parameter specifications from the level 1 model.
This section shall also present an integrated discussion of cost and schedule risk for the
OP 40 Risk Assessment and Mitigation Review
Revision 0, June 2008
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