RISK BUDGET MANAGEMENT IN PROGRESSING UNDERGROUND WORKS. INTERNATIONAL SOCIETY FOR TRENCHLESS TECHNOLOGY (ISTT) AND INTERNATIONAL TUNNELLING ASSOCIATION (ITA) JOINT WORKING GROUP REPORT

There is a mass of detailed data concerning technical risk assessment methods and practices for underground work. But there is very little advice or guidance on the broad apportionment of the total risk between the various phases of an underground project or general advice on how risk might be managed. The Working Group has produced a generic Risk Budget covering five typical phases of an underground works project, which illustrates the heavy bias of risk towards the early phases. Using a practical example the report illustrates how project risk can be managed in a structured manner.