Write risks as project conditions
Describe the uncertain event or condition, its cause, and the estimate consequence. Avoid labels such as coordination risk with no context.
Cite the drawing, specification, quote, schedule, site observation, or missing decision that supports the entry. Begin with the weather risk estimate and keep ordinary checklist completion separate from genuine uncertainty.
Show the current cost treatment
Record affected estimate codes, quantity or time exposure, current allowance or contingency treatment, exclusions, and sensitivity where supportable. Do not add several overlapping percentages for the same uncertainty.
Make correlations and shared causes visible to the reviewer. AACE materials on risk analysis provide professional reference points, but the project team must select methods appropriate to its estimate and available evidence.
Assign decisions and close evidence
Give each open item one owner, a next action, a due date tied to bid or estimate milestones, and an escalation path. Status should distinguish open, monitoring, treatment approved, transferred, and closed. Closing an item requires retained evidence and an updated estimate where applicable.
Report material exceptions during the bid day estimate review. Archive the final register with the basis of estimate so downstream teams can see which uncertainty was included, excluded, or still open.
| Field | Purpose |
|---|---|
| Condition | Specific uncertainty and cause |
| Evidence | Current project source |
| Exposure | Affected scope, cost, or time |
| Treatment | Included, excluded, allowed, transferred |
| Owner | Action, due date, closure evidence |
