About the Book: Integrated Design and Cost Management for Civil Engineers
Milestone cost estimates at various stages of the process are critical
components of the cost management activity. Risk Assessment and Management are
important as identi ed risks on construction projects are typically nancial in
nature. Therefore early in the project an assessment of risk is crucial to
establish the budget parameters within which the project must be completed. The
calculation of project contingencies should be based on an assessment of the
risk surrounding the project (site issues, availability of bidders, method of
procurement, and critically the market conditions in the location of the
project. As risks