Research of project risk decision and control based on dynamic management

2009 ◽  
Author(s):  
Lihua Ma
Keyword(s):  
Dynamic Management ◽  
Project Risk ◽  
And Control ◽  
Risk Decision

scholarly journals The utilization of project risk monitoring and control practices and their relationship with project success in construction projects

2022 ◽  
Vol 7 (1) ◽  
pp. 35-52 ◽  
Author(s):  
Kennedy Christopher Obondi
Keyword(s):  
United States ◽  
Construction Projects ◽  
Project Success ◽  
The United States ◽  
Risk Identification ◽  
Project Managers ◽  
Monitoring And Control ◽  
Project Risk ◽  
Risk Monitoring ◽  
And Control

Risk monitoring and control is often poorly implemented in construction projects because of a failure to monitor and manage identified risks. Construction companies experience significant losses due to project managers' lack of project risk monitoring and control in construction projects. Most studies have concentrated on risk identification, risk assessment, and risk analysis processes while neglecting crucial risk management processes of risk control, risk monitoring, and risk response. The lack of research on these three crucial processes highlights a gap in the literature concerning how these processes can increase the delivery of successful projects. The purpose of this study was to examine whether the utilization of project risk monitoring and control practices was related to project success in construction projects in the United States. An electronic survey instrument was used to collect data from a sample of 50 construction project managers in the Dallas-Fort Worth area in the state of Texas, in the United States. Spearman rho correlation analysis was used to examine the relationship between project risk monitoring and control practices and project success. The results of this study indicated that all project risk monitoring and control practices, including risk reassessment, risk audits, contingency reserves analysis, and risk status meetings, were significantly and positively related to project success in construction projects. One of the recommendations presented in this study was that future research should conduct the same study in developing countries to see if the study’s findings remain the same and generalizable. The study concluded that construction organizations should regularly consider the importance and usage of project risk monitoring and control practices and apply them to improve the success rate of a project.

scholarly journals Dynamic Management and Control Strategy of Highway Engineering Cost

2021 ◽  
Vol 5 (4) ◽  
pp. 23-26
Author(s):  
Caiyan Zhang
Keyword(s):  
Control Strategy ◽  
Cost Management ◽  
Construction Materials ◽  
Economic Cost ◽  
Construction Process ◽  
Dynamic Management ◽  
Highway Engineering ◽  
Water Conservancy ◽  
Engineering Cost ◽  
And Control

The rapid economic development has promoted the construction of infrastructure, such as highways and water conservancy projects. The establishment of highways has facilitated people's lives and made the distance between regions shorter and shorter. However, the construction of highway engineering is a big project, which not only has a long cycle, but also has a high economic cost. During the construction process, a large number of construction materials and personnel will be applied. If the project cost management is not implemented for the highway construction, it will easily affect the final quality and profit of the entire project. This article expounds the significance of dynamic management and control of highway engineering cost, and analyzes the strategy of dynamic management and control of highway engineering cost.

Risk Management and Control from the BT Project of Government

2014 ◽  
Vol 644-650 ◽  
pp. 5623-5626
Author(s):  
Jun Shan Wang ◽  
Jun Hu Tang ◽  
Hui Wang
Keyword(s):  
Risk Management ◽  
Control Mechanism ◽  
Risk Control ◽  
Liquidity Risk ◽  
Control Measures ◽  
Project Risk ◽  
Schedule Risk ◽  
The Government ◽  
Project Risk Analysis ◽  
And Control

Based on the Government of BT project risk analysis, the main risks are guaranteed by law, decision-making risk, management risk, liquidity risk, project quality and schedule risk. It Propose to develop risk control measures, to establish risk control mechanism to ensure the orderly conduct of the project.

scholarly journals Nonlinear Forecasting Model regarding Evolutional Risk of the PPP Project

2018 ◽  
Vol 2018 ◽  
pp. 1-9
Author(s):  
Wu Gao
Keyword(s):  
Case Analysis ◽  
Measurement Model ◽  
Special Topic ◽  
Project Risk ◽  
Multiple Variables ◽  
Risk Evolution ◽  
Nonlinear Regression Method ◽  
Cooperative Relationship ◽  
Multiple Impact ◽  
And Control

The special topic of this paper is to build a nonlinear measuring model between PPP project risk and multiple variables and test it through case analysis. Nonlinear regression method was used in this research to study the risk mutation of public-private partnership (PPP) projects without any significant events. Risk evolution is influenced by three factors which include (1) macroscopic environment, (2) micro environment, and (3) subject’s capacity and their cooperative relationship. First, it reveals three main drive variables of project risk evolution through case analysis. Second, it builds a nonlinear time-varying measurement model which is then transformed to a classical regression model. Lastly, it estimates and tests the model parameter by an example. The study shows that there is an integral negative correlation among the three independent variables within a certain threshold range, revealing macro environment as the most significant factor of project risk. Analyzing the complex relationship between multiple impact variables and risk evolution of PPP projects can provide a basic tool for forecasting and control of risk.

Engineering Project Risk Interpretation Structure Model Building and Analysis

2013 ◽  
Vol 357-360 ◽  
pp. 2640-2644
Author(s):  
Rui Zhang
Keyword(s):  
Model Building ◽  
Rapid Development ◽  
Objective Evaluation ◽  
Structure Model ◽  
Engineering Project ◽  
Project Risk ◽  
Construction Engineering ◽  
Root Cause ◽  
Negative Effect ◽  
And Control

The rapid development of construction engineering brings profit, but it also brings risks we only for engineering project risk correctly understanding, objective evaluation, can reasonably and control the negative effect of the risk based on the ISM principle, choose the project risk, use the method of reachability matrix and the various factors construction engineering project risk factors explain structure model, through the various risks of progressive relationship between, and puts forward the managers should be based on different factors influence degree to differentiate between, and find out the root cause, this paper focuses on the analysis and control of the main project risk.

scholarly journals The Source of Degradation of the Construction Industry Performance

2012 ◽  
Vol 4 (2) ◽  
pp. 206 ◽  
Author(s):  
Dean Kashiwagi ◽  
Jacob Kashiwagi ◽  
Jake Smithwick ◽  
Isaac Kashiwagi ◽  
Abraham Kashiwagi
Keyword(s):  
Construction Industry ◽  
Test Results ◽  
Repeated Testing ◽  
Project Risk ◽  
Potential Accuracy ◽  
The Past ◽  
Deductive Logic ◽  
Best Value ◽  
Industry Performance ◽  
And Control

The construction industry performance has been analyzed for the past 20 years. There has been no simple answer to the source of the construction industry problems. In 1991, the Construction Industry Structure (CIS) was formulated, and identified that the price based environment was more inefficient than the best value environment. Over the past 18 years, the analysis of the CIS has led to the hypothesis that the price based sector is inefficient because the buyer controls it. The hypothesis has been tested through case studies, and test results show that the owner is the biggest source of project risk and deviations. The dominant information was formed through repeated testing by moving the control to the vendor, and documenting all sources of project deviation. The studies have shown that the use of decision making, management, direction and control of the contractor by the owner increases the project risk. Two longitudinal studies are used to confirm the potential accuracy of the deductive logic. Key words: contractor control, owner releases control, contractor defined scope.

Application of HHM in Risk Identification of Tunnel Project

2011 ◽  
Vol 130-134 ◽  
pp. 3447-3450
Author(s):  
Ti Song ◽  
Lian Yu Wei ◽  
Wen Xia Sun ◽  
Wen Feng Sun
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Risk Identification ◽  
Project Risk ◽  
Identification Methods ◽  
Identification Method ◽  
Sufficient Knowledge ◽  
Tunneling Engineering ◽  
And Control ◽  
Engineering Projects

Tunnel project contains complex and diverse risk factors. Risk management has an important role on tunneling engineering projects. Risk management is based on risk identification. Only with sufficient knowledge of risk can we analyze,evaluate and control the risk .Traditional risk identification methods are generally targeted at a certain stage of the tunnel project or a particular content of the tunnel project. It can not consider all factors of the tunnel projects. This paper presents a new risk identification method - hierarchical holographic modeling. The method provides a multi-angle decomposition to the perspective of the tunnel features and in order to find the tunnel project risk source. It can provide a basis for risk management.

Sign in / Sign up

Export Citation Format

Share Document