December 12, 2007

MEDIA RELEASE

CONTACT:

Shawn Uhlman, PDC 503-823-7994

Eastside Streetcar Risk Assessment Under Way

The Portland Development Commission (PDC), acting on the direction of City Commissioner Sam Adams and PDC Executive Director Bruce Warner, has hired a consultant to complete a risk assessment of the Eastside Streetcar Loop project. The goal of the assessment is to ensure the approximately $150 million project, currently in the Conceptual Design phase, can meet budget and timing targets. The assessment will also identify opportunities to enhance project success.
 
In September PDC, in consultation with the Portland Office of Transportation, TriMet and Metro, prepared a scope of work for a Request for Proposal to perform the risk assessment. In mid-November, Faithful+Gould was selected to complete the work. PDC was appointed the lead agency to contract, manage and finance the $68,000 assessment.

“I want to make sure our cost estimates get triple checked – before we turn one shovel of dirt,” said Commissioner Adams.

The risk assessment will be completed in two phases. Phase One will review all ‘Conceptual Design’ work completed prior to Nov. 1, 2007. Phase Two will review the 100 percent ‘Design Development’ in January 2008. The Phase One report will be completed Feb. 1, 2008. The Phase Two report is currently scheduled for release in early April 2008.

“This effort is essentially the equivalent of an independent third-party peer review,” said Executive Director Warner. “It’s typical for a funding agency to conduct a review for projects of this magnitude. I believe it will deliver tremendous confidence in this project.”

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