Cost Risk Assessment (CRA) and Cost Estimate Validation Process (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)
Cost Risk Estimating Management (CREM) Glossary (pdf 942 kb)

Qualitative Risk Assessment Spreadsheet (xlsx 960 kb)
Risk Breakdown Structure (pdf 114 kb)
Sample Risk Elements (doc 43 kb)

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

Please see the documents below if you are interested in initiating or conducting a CRA or CEVP workshop.
Workshop Request Form (doc 41 kb)
Prep-Session Agenda Sample (doc 56 kb)
Workshop Agenda Sample (doc 85 kb)
Participation Matrix (xls 52 kb)

The documents below are for CRA or CEVP workshop reporting.
Official project one-page template (doc 175 kb)
Table of contents of a sample report (doc 211 kb)
Risk Workshop Report Summary - Data Reporting / Entry Form (xlsx 50 kb)

Related Resources
Estimating Information
Unit Bid Analysis
Project Management Guide

Other agencies and supporting offices
WSDOT Value Engineering
WSDOT Construction Office 
Association for the Advancement of Cost Engineering (AACE) International
Transportation Estimators Association (TEA)

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
360-705-7457