Enhancing the risk management program within the North Carolina Department of Transportation (NCDOT) is the focus of this collaborative research project with North Carolina State University (NCSU). The objective is to provide valuable insights and best practices to strengthen the NCDOT's Value Management Office (VMO) and implement an effective risk management program. By conducting a thorough literature review of efforts by other pioneering state DOTs and evaluating the existing NCDOT risk management program, areas for improvement have been identified. This project aims to develop tools, guidelines, and procedures to enhance the current risk assessment program, particularly within the Integrated Project Delivery process. Data obtained from the NCDOT's VMO were analyzed to identify major risks across different project types and identify effective risk mitigation strategies. This project involves two separate studies to develop a risk insights tools and risk management playbook to bolster the NCDOT's risk management program. Through the collaboration of NCSU and the NCDOT, this project aims to contribute to the continual improvement of risk management practices in the transportation sector, thereby promoting project success.
