How is risk incorporated into the capital budgeting process?

How is risk incorporated into the capital budgeting process?

How is risk incorporated into the capital budgeting process?

For example, You are a construction project manager looking at two projects : 1. An apartment building, three stories high, 30 units with 2 bed rooms. OR 2. Replace an old concrete bridge on a two lane road. Please name a few things regarding each type project that you might include in a risk analysis. How would you quantify these risks?