Guidebook for Successfully Assessing and Managing Risks for Airport Capital and Maintenance Projects

There are many different types of risks that can affect the successful outcome of an airport capital or maintenance project. Although it is typical to think of risk as the protection of people and assets, there are also operational, financial, reputational, and political risks, among others. Risk assessment and management is becoming more common at airports to help control costs resulting from tighter budgets, changing regulations, and evolving Federal Aviation Administration (FAA) processes. Each airport is going to have a different risk tolerance, and the assignment and management of risk also will be different. While the process for conducting risk assessments is applicable to all size airports, the degree of complexity will vary based on available resources. In fact, it is likely that smaller airports with fewer resources will engage consultants to help them with this process, while larger airports may manage it internally. Research is needed to assist staff at all levels and at all sizes of airports to understand risk assessment and management for capital and maintenance projects. The objective of this research was to develop a guidebook to assist airport staff in assessing and managing risks associated with capital and maintenance projects to ensure that their project scope, schedule, and budget objectives are met. The guidebook should be user-friendly and scalable to all sized airports.

• Record URL:
  http://apps.trb.org/cmsfeed/TRBNetProjectDisplay.asp?ProjectID=3241

Language

• English

Project

• Status: Completed
• Funding: $300000.00
• Contract Numbers:

  Project 01-22

• Sponsor Organizations:

  Federal Aviation Administration

  800 Independence Avenue, SW
  Washington, DC  United States  20591

  Airport Cooperative Research Program

  Transportation Research Board
  500 Fifth Street, NW
  Washington, DC    20001
• Performing Organizations:

  Direct Effect Solutions

  ,    
• Principal Investigators:

  Price, Mindy

• Start Date: 20120814
• Expected Completion Date: 0
• Actual Completion Date: 20140514
• Source Data: RiP Project 37893

Subject/Index Terms

• TRT Terms: Airport operations; Budgeting; Capital investments; Handbooks; Maintenance; Project management; Risk assessment; Risk management
• Subject Areas: Aviation; Finance; Maintenance and Preservation; Terminals and Facilities;

Filing Info

• Accession Number: 01545038
• Record Type: Research project
• Source Agency: Transportation Research Board
• Contract Numbers: Project 01-22
• Files: TRB, RiP
• Created Date: Nov 25 2014 1:00AM