(SR500) P3 Evaluation: Project Risk Assessment 201 (Prerequisite: P3 101) Webinar
9/20/2013 1:30 PM - 3:30 PM EST
Description: Transportation projects are full of uncertainty, and the public sector traditionally bears the risks associated with that uncertainty, and the resulting costs associated. P3s provide an opportunity for project risks to be better allocated to the party best able to manage that particular risk. Optimal risk allocation can lead to faster project delivery for less cost, and can also provide for innovation and operational efficiencies, and increased private sector financing and equity. This course introduces the risks associated with P3s for major projects, elaborates upon the ways in which they have traditionally been allocated, discusses how risk assessment results are used in comparing P3 procurement with traditional procurement using Value for Money (VfM) analysis and introduces the participant to the Risk Assessment Tool in FHWA's P3-VALUE model, i.e., P3-VfM Analysis to Learn and Understand Evaluation. Upon completion of this training, participants will be able to:
- Understand the various transportation delivery models.
- Identify key risks in the life-cycle of a major project.
- Understand the methods used in quantifying and monetizing value of individual risks.
- Understand common risk allocation approaches.
- Understand how aggregate costs of risks can be evaluated.
- Begin using the Risk Assessment tool of P3-VALUE.
FHWA Office of the Administrator, Public-private partnerships