**13. Conclusions**

Caltrans has evolved considerably in the past five years in the field of project risk management. The most common project risk management techniques used in the private sector are currently part of Caltrans project delivery process. The implementation of project risk management has assisted Caltrans executives and project managers in assessing properly the project contingency cost based upon specific identified risks. Enterprise Risk Management is still new in Caltrans. Nevertheless, management is taking currently formal steps in implementing it through all the state of California with the intention of managing and controlling not only project risks. The goal is to standardise the best practices in risk management from an enterprise perspective.
