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Cost Risk Assessment (CRA) and CEVP®

This page is intended to provide resources to help promote and support effective Cost Risk Assessment (CRA) and the Cost Estimate Validation Process (CEVP). 

Project Risk Management Guidance
Project Risk Management Guide (pdf 11.5 mb)
Project Risk Analysis Model (xlsm 5.17 mb)
Project Risk Analysis Model Users Guide (pdf 3 mb)

Qualitative Risk Assessment Spreadsheet (xlsx 960 kb)
Unit Bid Analysis

Cost Risk Estimating Management (CREM) Glossary (pdf 942 kb)
Risk Breakdown Structure (pdf 114 kb)
Project Management Guide

Please see the forms below if you're interested in attending workshops or receiving training on Cost Risk Assessment or the Cost Estimate Validation Process.
Workshop Request Form (doc 41 kb)
Prep-Session Agenda Sample (doc 56 kb)
Workshop Agenda Sample (doc 85 kb) 
Participation Matrix (xls 52 kb)

Official project one-page template (doc 175 kb)
One page summary of a sample report (doc 211 kb)
Sample Risk Elements (doc 43 kb)

Other agencies and supporting offices
WSDOT Value Engineering
WSDOT Construction Office 
Association for the Advancement of Cost Engineering (AACE) International
Transportation Estimators Association (TEA)
Trns.port Users Group (TUG)

Supporting articles to help navigate Cost Risk Assessment for projects
Risk Assessment/Allocation for Highway Construction Management
Risk Analysis/Contingency Determination/Range Estimating (pdf 84 kb)
Guidance for Cost Estimation for Highway Projects
Underestimating Costs in Public Works Projects - Error or Lie?

Any questions, contact
Mark Gabel
Cost Risk Estimating Manager