How Risk Management Could Increase the Efficiency of Construction Cost Management

2021 ◽  
pp. 155-168
Author(s):  
Sefik Emre Ulukan ◽  
Keyword(s):  
Risk Management ◽  
Cost Management ◽  
Construction Cost

BIM-Risk System for Chinese International Contractors

2015 ◽  
Vol 719-720 ◽  
pp. 181-186
Author(s):  
Ya Ting Li
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Construction Industry ◽  
Cost Management ◽  
External Environment ◽  
Project Risk ◽  
Building Information Model ◽  
International Construction ◽  
Potential Problems ◽  
Building Information

As the external environment of the international construction project has become increasingly complex, risk management is emphasized in the project management. BIM(Building Information Model) has bring change to the Construction Industry in China. It has contributed to the schedule and cost management. However, BIM is not widely used to solve the problem of risk management. This thesis cites the possibility about BIM application to risk management and evaluates the progress it may bring to the process of risk management. Furthermore, a BIM-Risk System is proposed for Chinese international contractors to solve some major risks the international contractors may face. By using this system, the level of the project risk management will significantly improve. Then the barriers and the potential problems of applying BIM to risk management in China are analyzed. The BIM application to risk management has great value to be further researched.

scholarly journals The association between strategic cost management and enterprise risk management: A critical literature review

2011 ◽  
Vol 9 (1) ◽  
pp. 184-195
Author(s):  
Mohamed Elsayed ◽  
Ananda Wickramainghe ◽  
Marwa Abdel Razik
Keyword(s):  
Risk Management ◽  
Value Chain ◽  
Positive Relationship ◽  
Cost Management ◽  
Enterprise Risk Management ◽  
Value Chain Analysis ◽  
Total Quality ◽  
Strategic Cost Management ◽  
Chain Analysis ◽  
Enterprise Risk

Reviewing literature and application of strategic cost management (SCM) and enterprise risk management (ERM) are critical and significant for corporate management to facilitate top management to employ appropriate SCM and ERM processes and systems especially in occurrence of constant and regular business turn around, crises and turbulence in recent time in world of business. This paper revisits and reviews the association between strategic cost management and enterprise risk management. Based on this review, the following propositions were developed; firm, which adopted SCM, is more likely to adopt ERM approach, there is a positive relationship between audit type and the association between ERM and SCM, and there is a positive relationship between company size and the association between ERM and SCM. The association between ERM and SCM differs from industry to another. The study also develops a framework for SCM composes of the following items: SWOT analysis, benchmarking, competitive advantage, value chain analysis, implement strategy that reduce cost during the value chain analysis by using target costing, accounting based-costing, accounting based-management, just in time, total quality management, life cycle, theory of constraints, and measure performance by using balanced scorecard.

Research on the System of the Construction Project Life Cycle Cost Risk Management

2011 ◽  
Vol 94-96 ◽  
pp. 2329-2332
Author(s):  
Hong Ping Wang ◽  
Yun Peng Hu
Keyword(s):  
Risk Management ◽  
Life Cycle ◽  
Life Cycle Cost ◽  
Cost Management ◽  
Risk Identification ◽  
Project Cost ◽  
Management Objectives ◽  
Project Life Cycle ◽  
Project Life ◽  
Cost Risk

Risk management is an important component of the project life cycle cost management and the project cost risk management system includes management objectives identification, risk factors analysis, risk identification, risk assessment, risk management and risk information feedback. The objectives of the project cost management can be successfully achieved through the life cycle cost risk management of various stages.

scholarly journals Research on the Fine Cost Management of Port Engineering Project Based on BIM

2020 ◽  
Vol 4 (2) ◽  
pp. 42
Author(s):  
Jian Yin ◽  
Huiyun Zhou ◽  
Jing Yang
Keyword(s):  
Cost Management ◽  
Construction Cost ◽  
Economic Benefits ◽  
Construction Process ◽  
Engineering Project ◽  
Whole Process ◽  
Project Construction ◽  
The Cost ◽  
Port Engineering ◽  
Very High

<p>With the development of economic globalization, the scale of international trade continues to expand. Ports are very important for cross regional transactions. However, the construction cost is also very high in the actual construction process because port engineering is a relatively large project. Cost management can effectively control the cost and improve the economic benefits of port engineering project construction. The traditional cost management model has been unable to meet the needs because the construction cost control is a dynamic process and runs through the whole process of the project. BIM information technology is a technology with engineering digital model as the core. Based on BIM, this article studies the refined cost management of port engineering project, and aims to provide some help for relevant practitioners.</p>

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