National Academies Press: OpenBook

The Owner's Role in Project Risk Management (2005)

Chapter:Front Matter

Suggested Citation:"Front Matter." National Research Council. 2005. The Owner's Role in Project Risk Management. Washington, DC: The National Academies Press. doi: 10.17226/11183.
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The Owner’s Role in Project Risk Management

Committee for Oversight and Assessment of U.S. Department of Energy Project Management

Board on Infrastructure and the Constructed Environment

Division on Engineering and Physical Sciences

NATIONAL RESEARCH COUNCIL OF THE NATIONAL ACADEMIES

THE NATIONAL ACADEMIES PRESS
Washington, D.C.
www.nap.edu

Suggested Citation:"Front Matter." National Research Council. 2005. The Owner's Role in Project Risk Management. Washington, DC: The National Academies Press. doi: 10.17226/11183.
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THE NATIONAL ACADEMIES PRESS
500 Fifth Street, N.W. Washington, DC 20001

NOTICE: The project that is the subject of this report was approved by the Governing Board of the National Research Council, whose members are drawn from the councils of the National Academy of Sciences, the National Academy of Engineering, and the Institute of Medicine. The members of the committee responsible for the report were chosen for their special competences and with regard for appropriate balance.

This study was supported by Contract Number DEAM01-99PO8006 between the U.S. Department of Energy and the National Academy of Sciences. Any opinions, findings, conclusions, or recommendations expressed in this publication are those of the author(s) and do not necessarily reflect the views of the organizations or agencies that provided support for the project.

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Suggested Citation:"Front Matter." National Research Council. 2005. The Owner's Role in Project Risk Management. Washington, DC: The National Academies Press. doi: 10.17226/11183.
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THE NATIONAL ACADEMIES

Advisers to the Nation on Science, Engineering, and Medicine

The National Academy of Sciences is a private, nonprofit, self-perpetuating society of distinguished scholars engaged in scientific and engineering research, dedicated to the furtherance of science and technology and to their use for the general welfare. Upon the authority of the charter granted to it by the Congress in 1863, the Academy has a mandate that requires it to advise the federal government on scientific and technical matters. Dr. Bruce M. Alberts is president of the National Academy of Sciences.

The National Academy of Engineering was established in 1964, under the charter of the National Academy of Sciences, as a parallel organization of outstanding engineers. It is autonomous in its administration and in the selection of its members, sharing with the National Academy of Sciences the responsibility for advising the federal government. The National Academy of Engineering also sponsors engineering programs aimed at meeting national needs, encourages education and research, and recognizes the superior achievements of engineers. Dr. Wm. A. Wulf is president of the National Academy of Engineering.

The Institute of Medicine was established in 1970 by the National Academy of Sciences to secure the services of eminent members of appropriate professions in the examination of policy matters pertaining to the health of the public. The Institute acts under the responsibility given to the National Academy of Sciences by its congressional charter to be an adviser to the federal government and, upon its own initiative, to identify issues of medical care, research, and education. Dr. Harvey V. Fineberg is president of the Institute of Medicine.

The National Research Council was organized by the National Academy of Sciences in 1916 to associate the broad community of science and technology with the Academy’s purposes of furthering knowledge and advising the federal government. Functioning in accordance with general policies determined by the Academy, the Council has become the principal operating agency of both the National Academy of Sciences and the National Academy of Engineering in providing services to the government, the public, and the scientific and engineering communities. The Council is administered jointly by both Academies and the Institute of Medicine. Dr. Bruce M. Alberts and Dr. Wm. A. Wulf are chair and vice chair, respectively, of the National Research Council.

www.national-academies.org

Suggested Citation:"Front Matter." National Research Council. 2005. The Owner's Role in Project Risk Management. Washington, DC: The National Academies Press. doi: 10.17226/11183.
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Suggested Citation:"Front Matter." National Research Council. 2005. The Owner's Role in Project Risk Management. Washington, DC: The National Academies Press. doi: 10.17226/11183.
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COMMITTEE FOR OVERSIGHT AND ASSESSMENT OF U.S. DEPARTMENT OF ENERGY PROJECT MANAGEMENT

KENNETH F. REINSCHMIDT, Chair,

Texas A&M University, College Station

DON JEFFREY BOSTOCK,

Lockheed Martin Energy Systems (retired), Oak Ridge, Tennessee

DONALD A. BRAND,

Pacific Gas and Electric Company (retired), Novato, California

ALLAN V. BURMAN,

Jefferson Solutions, Washington, D.C.

LLOYD A. DUSCHA,

U.S. Army Corps of Engineers (retired), Reston, Virginia

G. BRIAN ESTES, Consulting Engineer,

Williamsburg, Virginia

DAVID N. FORD,

Texas A&M University, College Station

G. EDWARD GIBSON, Jr.,

University of Texas, Austin

THEODORE C. KENNEDY,

BE&K, Inc., Birmingham, Alabama

MICHAEL A. PRICE,

Project Management Institute, Newtown Square, Pennsylvania

Staff

RICHARD G. LITTLE, Director,

Board on Infrastructure and the Constructed Environment (through November 2004)

MICHAEL D. COHN, Program Officer

DANA CAINES, Financial Associate

PAT WILLIAMS, Senior Project Assistant

Suggested Citation:"Front Matter." National Research Council. 2005. The Owner's Role in Project Risk Management. Washington, DC: The National Academies Press. doi: 10.17226/11183.
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BOARD ON INFRASTRUCTURE AND THE CONSTRUCTED ENVIRONMENT

PAUL GILBERT, Chair,

Parsons Brinckerhoff Quade & Douglas, Seattle, Washington

MASSOUD AMIN,

University of Minnesota, Minneapolis

RACHEL DAVIDSON,

Cornell University, Ithaca, New York

REGINALD DesROCHES,

Georgia Institute of Technology, Atlanta

DENNIS DUNNE,

California Department of General Services, Sacramento

PAUL FISSETTE,

University of Massachusetts, Amherst

LUCIA GARSYS,

Hillsborough County, Florida

WILLIAM HANSMIRE,

Parsons Brinckerhoff Quade & Douglas, San Francisco, California

HENRY HATCH,

U.S. Army Corps of Engineers (retired), Oakton, Virginia

AMY HELLING,

Georgia State University, Atlanta

THEODORE C. KENNEDY,

BE&K, Inc.

SUE McNEIL,

University of Illinois, Chicago

DEREK PARKER,

Anshen+Allen, San Francisco, California

HENRY SCHWARTZ, JR.,

Washington University, St. Louis, Missouri

DAVID SKIVEN,

General Motors Corporation, Detroit, Michigan

MICHAEL STEGMAN,

University of North Carolina, Chapel Hill

WILLIAM WALLACE,

Rensselaer Polytechnic Institute, Troy, New York

CRAIG ZIMRING,

Georgia Institute of Technology, Atlanta

Staff

RICHARD G. LITTLE, Director,

Board on Infrastructure and the Constructed Environment (through November 2004)

LYNDA L. STANLEY, Executive Director,

Federal Facilities Council

MICHAEL D. COHN, Program Officer

DANA CAINES, Financial Associate

PAT WILLIAMS, Senior Project Assistant

Suggested Citation:"Front Matter." National Research Council. 2005. The Owner's Role in Project Risk Management. Washington, DC: The National Academies Press. doi: 10.17226/11183.
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Acknowledgment of Reviewers

This report has been reviewed in draft form by individuals chosen for their diverse perspectives and technical expertise, in accordance with procedures approved by the National Research Council’s (NRC’s) Report Review Committee. The purpose of this independent review is to provide candid and critical comments that will assist the institution in making its published report as sound as possible and to ensure that the report meets institutional standards for objectivity, evidence, and responsiveness to the study charge. The review comments and draft manuscript remain confidential to protect the integrity of the deliberative process. We wish to thank the following individuals for their review of this report:

Philip R. Clark, Nuclear Corporation (retired),

Ernest L. Damon, Foster Wheeler Development Corporation (retired),

Fletcher H. (Bud) Griffis, Polytechnic University,

Henry J. Hatch, U.S. Army Corps of Engineers (retired),

Sam L. Savage, Stanford University, and

Alan Schriesheim, Argonne National Laboratory (retired).

Although the reviewers listed have provided many constructive comments and suggestions, they were not asked to endorse the conclusions or recommendations, nor did they see the final draft of the report before its release. The review of this report was overseen by Andrew C. Lemer, The Matrix Group, Inc. Appointed by the NRC, he was responsible for making certain that an independent examination of this report was carried out in accordance with institutional procedures and that all review comments were carefully considered. Responsibility for the final content of this report rests entirely with the authoring committee and the institution.

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Suggested Citation:"Front Matter." National Research Council. 2005. The Owner's Role in Project Risk Management. Washington, DC: The National Academies Press. doi: 10.17226/11183.
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Suggested Citation:"Front Matter." National Research Council. 2005. The Owner's Role in Project Risk Management. Washington, DC: The National Academies Press. doi: 10.17226/11183.
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Suggested Citation:"Front Matter." National Research Council. 2005. The Owner's Role in Project Risk Management. Washington, DC: The National Academies Press. doi: 10.17226/11183.
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Acronyms and Abbreviations


BICE

Board on Infrastructure and the Constructed Environment


CD-0

critical decision 0, approval of mission need

CD-1

critical decision 1, approval of system requirements and alternatives

CD-2

critical decision 2, approval of project baseline

CD-3

critical decision 3, authorization to complete implementation

CD-4

critical decision 4, approval of project completion and transition to operations


DOE

U.S. Department of Energy


EIA

Electronic Industries Alliance

EIR

external independent review

ES&H

environment, safety, and health


FMEA

failure modes and effects analysis


IPRA

International Project Risk Analysis

IPT

integrated project team


PDRI

Project Definition Rating Index

PERT

program evaluation and review technique


SOW

statement of work


WBS

work breakdown structure

Suggested Citation:"Front Matter." National Research Council. 2005. The Owner's Role in Project Risk Management. Washington, DC: The National Academies Press. doi: 10.17226/11183.
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Effective risk management is essential for the success of large projects built and operated by the Department of Energy (DOE), particularly for the one-of-a-kind projects that characterize much of its mission. To enhance DOE’s risk management efforts, the department asked the NRC to prepare a summary of the most effective practices used by leading owner organizations. The study’s primary objective was to provide DOE project managers with a basic understanding of both the project owner’s risk management role and effective oversight of those risk management activities delegated to contractors.

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