Risk Identification and Mitigation Factors Sample Clauses

The Risk Identification and Mitigation Factors clause outlines the process for recognizing potential risks associated with a project or agreement and establishing measures to address them. Typically, this clause requires the parties to systematically assess possible threats to successful performance, such as financial, operational, or compliance risks, and to implement strategies like contingency planning or insurance to minimize their impact. Its core function is to proactively manage uncertainties, thereby reducing the likelihood of disruptions and ensuring smoother execution of contractual obligations.
Risk Identification and Mitigation Factors b. The Engineer shall prepare for and attend a cost estimate review (CER) workshop with the State and the FHWA to develop and review information for inclusion in the FP such as cost estimation procedures and tools, identifying funding sources and revenues, and project implementation schedules. In preparation for the CER, the Engineer shall conduct a risk analysis assessment, provide cost spreadsheets and models for input into the FHWA’s probability modeling software, review and provide comments on the CER summary report, and update cost information in the initial FP to reflect confidence limits established during the CER. c. The Engineer shall provide annual updates (AUs) to the Initial FP reflecting changes in project finances and funding resources. Each update shall include revisions to the five main sections mentioned above as well as discussions of significant cost or revenue changes, comparisons to previous plan estimates, and explanations of mitigating actions taken to adjust for deviations. d. The Engineer shall submit the PMP, FP and FP AUs to the State for review and comment. For scoping purposes, it is assumed that the initial drafts of the FP and FP AUs shall be reviewed concurrently by the District, and the State’s Design and Finance Divisions. The Engineer shall address the State’s comments and prepare a revised draft for review by the FHWA. The Engineer shall address FHWA comments and prepare the final FP (up to three revision cycles from the State and FHWA) for the State to submit to the FHWA for approval. To document each revision cycle, the Engineer shall develop comment response forms that includes the comments, comment numbers, page and line numbers of draft where comments originated, page and line numbers where revisions can be located, and the responses.
View SourceView Similar (17)
Risk Identification and Mitigation Factors. The Engineer shall prepare for and attend a cost estimate review (CER) workshop with the State and the FHWA to develop and review information for inclusion in the FP such as cost estimation procedures and tools, identifying funding sources and revenues, and project implementation schedules. In preparation for the CER, the Engineer shall conduct a risk analysis assessment, provide cost spreadsheets and models for input into the FHWA’s probability modeling software, review and provide comments on the CER summary report, and update cost information in the initial FP to reflect confidence limits established during the CER.
View SourceView Similar (2)

Related to Risk Identification and Mitigation Factors

  • Non-Identification Approved Users agree not to use the requested datasets, either alone or in concert with any other information, to identify or contact individual participants from whom data and/or samples were collected. Approved Users also agree not to generate information (e.g., facial images or comparable representations) that could allow the identities of research participants to be readily ascertained. These provisions do not apply to research investigators operating with specific IRB approval, pursuant to 45 CFR 46, to contact individuals within datasets or to obtain and use identifying information under an 2 The project anniversary date can be found in “My Projects” after logging in to the dbGaP authorized-access portal. IRB-approved research protocol. All investigators including any Approved User conducting “human subjects research” within the scope of 45 CFR 46 must comply with the requirements contained therein.

  • Customer Identification Program (A) To assist the Fund in complying with requirements regarding a customer identification program in accordance with applicable regulations promulgated by U.S. Department of Treasury under Section 326 of the USA PATRIOT Act ("CIP Regulations"), BNYM will do the following: (i) Implement procedures which require that prior to establishing a new account in the Fund BNYM obtain the name, date of birth (for natural persons only), address and government-issued identification number (collectively, the "Data Elements") for the "Customer" (defined for purposes of this Agreement as provided in 31 CFR 1024.100(c)) associated with the new account. (ii) Use collected Data Elements to attempt to reasonably verify the identity of each new Customer promptly before or after each corresponding new account is opened. Methods of verification may consist of non-documentary methods (for which BNYM may use unaffiliated information vendors to assist with such verifications) and documentary methods (as permitted by 31 CFR 1024.220), and may include procedures under which BNYM personnel perform enhanced due diligence to verify the identities of Customers the identities of whom were not successfully verified through the first- level (which will typically be reliance on results obtained from an information vendor) verification process(es). (iii) Record the Data Elements and maintain records relating to verification of new Customers consistent with 31 CFR 1024.220(a)(3). (iv) Regularly report to the Fund about measures taken under (i)-(iii) above. (v) If BNYM provides services by which prospective Customers may subscribe for shares in the Fund via the Internet or telephone, BNYM will work with the Fund to notify prospective Customers, consistent with 31 CFR 1024.220(a)(5), about the program conducted by the Fund in accordance with the CIP Regulations. (B) To assist the Fund in complying with the Customer Due Diligence Requirements for Financial Institutions promulgated by FinCEN (31 CFR § 1020.230) pursuant to the Bank Secrecy Act ("CDD Rule"), BNYM will maintain and implement written procedures that are reasonably designed to: (i) Obtain information of a nature and in a manner permitted or required by the CCD Rule in order to identify each natural person who is a "beneficial owner" (as that term is defined in the CDD Rule) of a legal entity at the time that such legal entity seeks to open an account as a shareholder of the Fund, unless that legal entity is excluded from the CDD Rule or an exemption provided for in the CDD Rule applies; and (ii) Verify the identity of each beneficial owner so identified according to risk based procedures to the extent reasonable and practicable, in accordance with the minimum requirements of the CDD Rule. (C) Nothing in Section (3) shall be construed to require BNYM to perform any course of conduct that is not required for Fund compliance with the CIP Regulations or CDD Rule, including by way of illustration not limitation the collection of Data Elements or verification of identity for individuals opening Fund accounts through financial intermediaries which use the facilities of the NSCC. (D) BNYM agrees to permit inspections relating to the CIP services provided hereunder by U.S. Federal departments or regulatory' agencies with appropriate jurisdiction and to make available to examiners from such departments or regulatory agencies such information and records relating to the CIP services provided hereunder as such examiners shall reasonably request.

  • Customer Identification Program Notice To help the U.S. government fight the funding of terrorism and money laundering activities, U.S. Federal law requires each financial institution to obtain, verify, and record certain information that identifies each person who initially opens an account with that financial institution on or after October 1, 2003. Consistent with this requirement, PFPC Trust may request (or may have already requested) the Fund's name, address and taxpayer identification number or other government-issued identification number, and, if such party is a natural person, that party's date of birth. PFPC Trust may also ask (and may have already asked) for additional identifying information, and PFPC Trust may take steps (and may have already taken steps) to verify the authenticity and accuracy of these data elements.

  • Partnership Formation and Identification 6 2.1 Formation............................................................................................ 6 2.2 Name, Office and Registered Agent.................................................................... 6 2.3 Partners............................................................................................. 6 2.4

  • Customer Identification Unless Elastic has first obtained Customer's prior written consent, Elastic shall not identify Customer as a user of the Products, on its website, through a press release issued by Elastic and in other promotional materials.