scholarly journals Prediction of Climate Risk Management in Infrastructure Projects

2019 ◽  
Vol 8 (11S2) ◽  
pp. 268-272
Keyword(s):  
Risk Management ◽  
Construction Projects ◽  
Climate Risk ◽  
Annual Number ◽  
Project Schedule ◽  
Risk Environment ◽  
Construction Period ◽  
History Of ◽  
Construction Schedule ◽  
The Impact

Risk Management in Construction Project is playing important role to achieve successes of the Project. Risk is in everywhere and every project particularly in construction has innumerable risks occurring before construction and during construction period. Most of the risks are repeatedly occurring but the impact & probability of risk is varying. However, the climate risk may lead to impact the Time, Cost and losing an opportunity Cost of the project. This study is to create a model for risk data collection, risk analysis, risk interpretation with the combination of project schedule and cost, India climate is varying from states to states especially the annual number of raining days different from 10 to 130 days throughout India and its impact the construction schedule 3% to 36% on average, Temperature is verifying for winter (0C to 25C) and summer (25C to 50C) is also impact the productivity of project this will reflected in the Project Cost 1% to 10% on average. The History of Climate we can identify the Climate Risk, Environment Risk, impact the time and Cost. However, this paper is measuring and handling risks to help for upcoming construction projects.

The Risk Management Method for Project Schedule of Aerospace Engineering

2013 ◽  
Vol 712-715 ◽  
pp. 3165-3168
Author(s):  
Chao Hui Wang ◽  
Jun Lu
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Aerospace Engineering ◽  
Project Schedule ◽  
Construction Period ◽  
Management Method ◽  
Construction Schedule ◽  
Engineering Projects ◽  
Risk Assessment And Analysis ◽  
Huge Investment

Aerospace engineering projects usually require a huge investment and a long construction period. For this reason, a risk management method is proposed for the project schedule of aerospace engineering. In total, it is necessary to make a risk assessment and analysis on construction schedule before project implementation.

scholarly journals Identification and Qualitative Evaluation of Risk Factors in the Construction Projects in Iraq

2021 ◽  
Vol 14 (2) ◽  
pp. 91-101
Author(s):  
Noor Aletby ◽  
Hafeth Ibrahim
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Construction Projects ◽  
Qualitative Evaluation ◽  
Qualitative Assessment ◽  
Management Process ◽  
Risk Management Process ◽  
Questionnaire Method ◽  
High Level ◽  
The Impact

Construction projects in Iraq face many dangers that cause exceeding the estimated cost of the project and not completing the project on time, and since the risk management process in construction projects is of great importance in controlling and reducing the impact of risks in construction projects, so it is necessary to identify these risks and evaluate them correctly in order to increase accuracy and the health of the subsequent stages of the risk management process in construction projects. This paper aims to identify the most important risks in construction projects in Iraq and to conduct a qualitative assessment of the identified risks and arrange them according to their importance. The researcher adopted the questionnaire method as a tool to determine the risks and used the technique of probability and effect matrix to conduct the qualitative assessment of the identified risks. The study found that there are 48 risk factors that constitute the most dangerous factor in construction projects in Iraq, and 10 of the determining factors were within the high level of risk, and at the forefront of which was the inability of the owner to finance the project.

A scheduling methodology for dealing with uncertainty in construction projects

2011 ◽  
Vol 28 (8) ◽  
pp. 1064-1078 ◽  
Author(s):  
Maria Elena Bruni ◽  
Patrizia Beraldi ◽  
Francesca Guerriero ◽  
Erika Pinto
Keyword(s):  
Construction Projects ◽  
Quantitative Methodology ◽  
Project Schedule ◽  
Deterministic Method ◽  
Content Type ◽  
Probabilistic Information ◽  
Analysis Process ◽  
On Line ◽  
Schedule Reliability ◽  
The Impact

PurposeThe purpose of this paper is to address the problem of scheduling under uncertainty in construction projects. The existing methods for determining a project schedule are based on assumption of complete knowledge of project parameters; but in reality there is uncertainty in construction projects, deriving from a multitude of context‐dependent sources and often provided as outcome of a risk analysis process. Thus, classical deterministic analysis might provide a schedule which is not sufficiently protected against possible disruptions.Design/methodology/approachA quantitative methodology is developed for planning construction projects under uncertainty aimed at determining a reliable resource feasible project schedule by taking into account the available probabilistic information to produce solutions that are less sensitive to perturbations that occur on line. The methodology relies on a computer‐supported system that allows to identify, analyze and quantify the schedule reliability and the impact of possible disruptions on the duration of the project.FindingsIt is found that the proposed methodology can exploit more information about the uncertain parameters than the commonly‐used deterministic method, and it provides an improved understanding of the schedule reliability in presence of uncertainty. The schedule generated with a classical deterministic method sets a completely unrealistic planned project delivery date of about 1,250 days, with a probability around 50 per cent to be exceeded. This behavior can be very unsatisfactory for construction projects for which high penalties are usually associated to heavy due date violations.Originality/valueThis paper presents an approach for robust scheduling of construction project problem under uncertainty. We provide a tool able to support managers in developing a workable and realistic project schedule to be used as a guideline for project control and monitoring.

scholarly journals Realizacja projektów inwestycyjno-budowlanych z wykorzystaniem Big Data

2017 ◽  
Vol 26 (2) ◽  
pp. 241-249 ◽  
Author(s):  
Jarosław Górecki ◽  
Jadwiga Bizon-Górecka ◽  
Karol Michałkiewicz
Keyword(s):  
Risk Management ◽  
Big Data ◽  
Construction Projects ◽  
Construction Project ◽  
Construction Companies ◽  
On Line ◽  
Line Survey ◽  
The Impact

A paper focuses on analyzing the impact of Big Data (BD) on minimizing the risk in investment and construction projects. The work presents the aspects of risk occurring during the execution of the construction project. It presents an on-line survey which was aimed at knowing the opinion of Polish construction companies on the BD, and checking their readiness to implement technologies supporting manipulation of the data. It was underlined that results of the BD analysis provide a powerful tool for risk management, however, it is hardly noticed by the Polish respondents.

scholarly journals THE EFFECT OF MANAGING RISK PROCESS IN CONSTRUCTION PROJECTS

2020 ◽  
Vol 5 (4) ◽  
pp. 101-114
Author(s):  
Khanm Noori Kaka HamaAttar
Keyword(s):  
Risk Management ◽  
Construction Projects ◽  
Theoretical Aspect ◽  
Risk Process ◽  
Risk Identification ◽  
Management Process ◽  
Risk Management Process ◽  
Risks Assessment ◽  
Managing Risk ◽  
The Impact

The aim of this study is to get a better understanding for the effect of the set of the risks in the construction projects, in addition to how mitigating these risks in those projects. Indeed risks are frequently playing the same rules, but the nature of project defines the specific risks of the project. The first step in process of risks assessment is identification them. Once risk identification is complete, risk analysis is used to identify the likelihood the risks that have been identified will happen. Thus by using evidence from other research in the area, this study showed the impact of the set of the stages in the risk management process in the construction projects, which were discussed in greater detail in the theoretical aspect of the current study. The findings of the study were revealed the fact that the comprehension of risk and its management has the direct effect of understanding specific issues that involve to the project. In addition to that, the integration of a risk management process at each stage of its stages in construction projects must be oriented to the progress of the project and permeate all areas, functions and processes of the project. In this regard, the most successful project managers maintain open lines of communication throughout their organizations to stay in touch with constituent’s needs.

scholarly journals Using meta-networks to analyse the impact of adverse random events on the time and cost of completing

2019 ◽  
Vol 28 (2) ◽  
pp. 192-202
Author(s):  
Grzegorz Śladowski
Keyword(s):  
Construction Projects ◽  
Construction Project ◽  
Dynamic Network ◽  
Single Mode ◽  
Project Schedule ◽  
Material Resources ◽  
Simulation Based ◽  
Random Events ◽  
Risk Sources ◽  
The Impact

According to the concept of a system-based approach, a construction project can be treated as a complex system composed of various elements, such as human, equipment and material resources, as well as knowledge and tasks that are mutually interlinked. In the classical approach to construction project risk assessment, the impact of the “system” in the analysis of relationships between risk sources and their consequences has so far been neglected. The concept of construction project vulnerability and its adaptability has appeared in literature in recent years. It is analysed on the basis of a project’s vulnerability to the impact of risk factors and its adaptive capacity is seen an answer to project perturbations caused by adverse random events. As a part of developing the system-based approach to analysing construction project schedule, the author further developed the concept of modelling planned construction projects with relationship meta-networks composed of four types of nodes: agents (human resources), knowledge, equipment and material resources and tasks. The author included possible deviations from the planned project’s budget in the schedule vulnerability and adaptability analysis, instead of only focusing on deviations from its completion deadline. An analysis of the occurrence of additional and replacement work was introduced by the author, which further developed the concept of the simulated evolution of such networks to include the capacity to introduce new nodes and links into their structure. Furthermore, the author used the potential of weighted meta-networks to model certain dependencies within the planned project. A simulation-based approach as a part of DNA (dynamic network analysis) was used to analyse the vulnerability and adaptability of such networks. The proposed approach was presented on the example of a renovation project performed on a historical structure. The conclusions drawn from the author’s analyses can be used to formulate construction project schedules that are less vulnerable to perturbations and are characterised by greater adaptability. In the future, the author plans to expand the analysis presented above to include dependencies in single-mode networks (e.g. in agent, resource or knowledge networks) on the meta-network of a project.

scholarly journals Model of risk management of construction project based on transaction costs

2018 ◽  
Vol 193 ◽  
pp. 05025
Author(s):  
Irina Vladimirova ◽  
Pavel Zemskov ◽  
Anna Tsygankova
Keyword(s):  
Risk Management ◽  
Transaction Costs ◽  
Construction Projects ◽  
Baikal Region ◽  
Construction Project ◽  
Management Model ◽  
The Russian Federation ◽  
Quantitative Indicators ◽  
The Impact ◽  
The Relationship

The paper studies the relationship between transaction costs and risk management in the construction projects affecting ecosystem considering economic externalities. Quantitative indicators of the impact of transaction costs on the level of risk in the project are thoroughly investigated. The construction project risk management model based on transaction costs is discussed in detail. Collected and experimental data of the construction project, which has a significant impact on the ecology of the Baikal region in the Russian Federation is analyzed and the uncertainty reduction caused by transaction costs is measured.

Simulation modeling of weather-sensitive tunnelling construction activities subject to cold weather

2014 ◽  
Vol 41 (1) ◽  
pp. 48-55 ◽  
Author(s):  
A. Shahin ◽  
S.M. AbouRizk ◽  
Y. Mohamed ◽  
S. Fernando
Keyword(s):  
Construction Projects ◽  
Weather Conditions ◽  
Project Planning ◽  
Cold Weather ◽  
Project Schedule ◽  
Cold Regions ◽  
Weather Impact ◽  
Weather Events ◽  
Weather Uncertainty ◽  
The Impact

In cold regions, weather introduces a great deal of uncertainty to weather-sensitive construction activities, resulting in project schedules that deviate from plans. To maximize construction process productivity, decisions regarding process execution planning and sequence of work need to be made, based on reliable plans and schedules. Faced with winter weather uncertainty in cold regions, this task becomes quite challenging. This paper follows the framework that was proposed in the literature for simulating weather-sensitive construction projects executed under cold weather conditions. In the literature, the authors applied the framework steps to enable simulating and planning pipeline construction activities under severe cold weather. The proposed framework sets out a work breakdown structure of activities to account for and quantify weather impact on the project schedule. The steps outlined in the framework are followed to enable simulating and planning tunnelling construction activities executed under severe cold weather conditions. Relevant simulation findings, which clarify the impact of cold weather events on construction projects and can assist in project planning and decision support, are reported.

scholarly journals An assessment of Key Success Factors for Construction Projects in the Democratic Republic of Congo

2021 ◽  
Vol 13 (2(I)) ◽  
pp. 16-34
Author(s):  
Adrien Fariala ◽  
Olawumi Dele Awolusi
Keyword(s):  
Risk Management ◽  
Construction Projects ◽  
Success Factors ◽  
Democratic Republic ◽  
Project Success ◽  
Democratic Republic Of Congo ◽  
Construction Project ◽  
Republic Of Congo ◽  
Key Success Factors ◽  
The Impact

The success of the Government's construction projects in the Democratic Republic of Congo (DRC) since 2011 has been anchored on the potential of construction firms in completing these projects based on the planned timeframe as well as the budget. Consequently, from a project management viewpoint, the main objective of the present study was to assess the critical success factors in developing countries' construction projects and to examine the impact of risk management, leadership, experience and expertise, and project size on construction projects in DRC. Data was gathered from respondents in the construction projects in DRC using quantitative methods. A statistical software program, SPSS version 25, was subsequently used to analyze the collected quantitative data. The findings emanating from this study contribute to the body of knowledge on key success factors in construction projects in DRC as a developing country. It was revealed from the study that the success of construction projects in DRC could be boosted through effective and efficient risk management. In addition, effective and efficient leadership mainly transactional leadership would affect construction project success. Further, the more the experience and expertise of construction project staff, the more likely the project success criteria would be met, and the more likely the project would be successful. And lastly, smaller-sized and medium-sized construction projects may be more successful, whereas mega projects may not be very successful due to insufficient and limited experience and expertise.

Risk management in residential projects in the United States: Implementation status, evaluation techniques and barriers

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Simon Adamtey ◽  
James Ogechi Kereri
Keyword(s):  
Risk Management ◽  
Empirical Evidence ◽  
Construction Projects ◽  
Multinomial Logistic Regression ◽  
The United States ◽  
The Body ◽  
Content Type ◽  
General Contractors ◽  
The Impact ◽  
Residential Projects

Purpose Residential projects frequently suffer from low-risk management (RM) implementation and, consequently, are more likely to fail to meet performance objectives. With RM becoming an essential requirement, the purpose of this study is to investigate RM implementation in terms of status, risk analysis techniques, barriers and impact of RM on residential projects across the USA. Design/methodology/approach Data were collected from 105 general contractors who had completed 3,265 residential projects in the past five years. Data collection was through a US national survey sent out through emails between August and November 2019 to residential general contractor firms. The firms were randomly selected from national organizations, such as the National Association of Home Builders, Associated General Contractors of America and Associated Builders and Contractors. Findings The analysis indicated that RM implementation is still extremely low at 22.27%. However, there was an increase in RM implementation as the cost and duration of projects increased. Direct judgment is the most used technique. Also, the one-sample t-test indicated that the barriers have a significant impact on RM implementation. Multinomial logistic regression results indicated that the impact of lack of management support, lack of money or budget, the complexity of analytical tools and lack of time to perform analysis predict the impact on the overall performance of construction projects. Overall, the results provide empirical evidence, which can influence management’s decision-making regarding RM and improve implementation in residential projects. Originality/value There is a lack of empirical evidence on the impact of barriers to RM implementation on the performance of construction projects. This research contributes to the body of knowledge by bridging this gap through a robust analysis of data collected from real residential projects.

Sign in / Sign up

Export Citation Format

Share Document