The development of all projects involves risk. No owner can afford a cost overrun on a project. Historically, little has been done to determine or reduce the amount of uncertainty in a construction project or a manufactured product. Risk Analysis is a systematic and structured methodology to identify and analyze potential risks and develop solutions to mitigate their impact.

LZA utilizes the latest Monte Carlo and range estimating techniques and maximizes the use of Pareto cost models to understand the potential costs of construction or manufacture. LZA's Risk Management Process is a six-phase approach, specifically:

		Information Phase
		Risk Identification Phase
		Risk Analysis
		Risk Response Planning Phase, covering four responses—prevention, mitigation, transfer, or acceptance
		Reporting Phase, and
		Risk Management Implementation Phase