Highlights from Chapter 4:

Accountability Through

Risk Management

Currently, the Authority’s top strategic risks and mitigation plans for those risks include:

  • Funding uncertainty — If the Authority receives new funding, it can continue and expand construction, and reduce risks associated with insufficient cash including project slowdowns and potential employee layoffs.
  • Third-party management — Interface, dependencies, changing conditions, and approvals related to third parties pose substantial risk to the design and construction of the project.
  • Workforce planning — The Authority will be unable to deliver the high-speed rail project if it cannot secure appropriate staffing to meet its demands and requirements. This can be achieved by successfully securing additional positions through the budget change proposal process, reclassifying existing positions, and/or efficiently managing staffing priorities to support the future demands and requirements of the project.
  • Program integration management — With the advancement of the project, the Authority has initiated scopes of work for rail extensions, stations, and track and systems. The alignment of these various projects is crucial.
  • Litigation — A megaproject of this nature will experience various legal risks. These include potential litigation related to project funding, environmental clearances, property acquisition, and contract disputes.

Enterprise Risk Management Process Steps

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