Risk Assessment of Large-Scale Public Utility Projects on Base of Entropy Law

2014 ◽  
Vol 651-653 ◽  
pp. 1711-1716
Author(s):  
Yao Yu Jin
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Large Scale ◽  
Public Utility ◽  
Public Utilities ◽  
Public Welfare ◽  
Theoretical Research ◽  
Project Risk Management ◽  
Engineering Project ◽  
Project Risk

Due to the risk of large-scale public welfare project and a wide variety of intricate link between various risks, the success of its projects is a great significance for the development of China's construction industry, many issues still need further research, particularly research project risk assessment. the theoretical research evaluation of large-scale public welfare project risks are becoming a core of project risk management, this paper presents a comprehensive evaluation of large-scale public utilities engineering project risk based on entropy method, and through case studies, large public utilities project risk management provides a simple, more objective methods of analysis for policy-makers to play the role of the project.

scholarly journals THE CURRENT STATE OF PROJECT RISK ASSESSMENT AND EDUCATION NEEDS IN PROJECT RISK MANAGEMENT

2019 ◽  
Vol 7 ◽  
Author(s):  
Matej Masár ◽  
Mária Hudáková
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Project Managers ◽  
Project Risk Management ◽  
Project Risk ◽  
Qualitative And Quantitative ◽  
Current State ◽  
The World ◽  
Project Risks ◽  
Project Risk Assessment

Current trends show that education in the field of project risk management is a very actual topic. Long - term projects, which was realized in 2018, was mainly focused on R&D across the world. Short - term projects, was focused on innovation and improve manufacturing processes. Many projects failed because project managers did not manage project risks. Project managers have less knowledge and skills on how to effectively manage project risks, especially risks in the planning phase of projects. The main aim of this article is to analyze the current state of usage project risk assessment across the world, based on own empirical research, which was provided, by authors in 2018 and 2019 (mainly level of usage project risk management methods, experience and level of education). The research focused on analyzing the current state of project risk assessment among continents. The authors focused on the average level of use qualitative and quantitative project risk analysis by project managers, level of project risk management experience by project managers and complexity of learning in using of qualitative and quantitative project risk management methods and tools.  Some recommendation were established to educate project managers in the field of project risk management.

Improving Objectivity in Project Risk Management

2017 ◽  
pp. 248-265
Author(s):  
Kailan Shang
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Expert Knowledge ◽  
Process Mining ◽  
Critical Role ◽  
Project Risk Management ◽  
Project Risk ◽  
Resource Misallocation ◽  
Back Testing ◽  
Subject Matter Expertise

Project risk management requires subject matter expertise to identify and assess relevant and sometimes unique risks. Insufficient experience data and fast evolvement of emerging risks in the field of project risk management make qualitative analysis more prevalent in project risk assessment. Therefore, expert knowledge and experience play a critical role in project risk management. On the other hand, the resulting subjectivity often leads to inconsistent risk assessment. Undesired consequences include cost underestimation, risk underestimation and resource misallocation. This chapter discusses the causes and adverse impact of subjectivity in project risk management and methods to improve objectivity. It covers common human biases in project risk management and introduces measures to improve objectivity in project risk management using expert diversification, risk culture, process mining, fuzzy logic models, and back testing.

The Study of Project Agent-Construction System Risk and Precautions against Risk

2012 ◽  
Vol 174-177 ◽  
pp. 2754-2758
Author(s):  
Zhao Bin Wei ◽  
Gui Rong Zhu
Keyword(s):  
Risk Management ◽  
Management Model ◽  
Project Risk Management ◽  
Project Implementation ◽  
Engineering Project ◽  
Project Risk ◽  
Whole Process ◽  
System Risk ◽  
Management Of Risk ◽  
Construction System

Abstract. Lots of various risks will exist in the whole process that is from construction to completion of project, whose management model is project agent-construction system. If construction agent can’t focus more importance on the cognition and management of risk occurring in the whole process of engineering project implementation, the successful accomplishment of engineering project will be influenced consequentially. In this paper, it is combined that the theory of project risk management and the practice of project agent-construction system from the construction agent’s viewpoint, then the risk of project agent-construction system is analyzed, and the precautions against risk are studied. It is of great significance and high practical values to carry out agent-construction system more preferably for construction agent.

In the Engineering Project of Legal Risk Control

2014 ◽  
Vol 1044-1045 ◽  
pp. 1760-1763
Author(s):  
Jin Ping Liu
Keyword(s):  
Risk Management ◽  
Rapid Development ◽  
Construction Project ◽  
Developed Countries ◽  
International Standards ◽  
Project Risk Management ◽  
Engineering Project ◽  
Project Risk ◽  
Market Economy System ◽  
Capital Construction

The importance and urgency of construction engineering project risk management is in the process of China's construction industry in line with international standards gradually emerge. Construction project risk management is to determine the needs of the market economy system. With the rapid development of modern industry and modern science and technology, both in developed countries and developing spend a lot of money on basic construction. Therefore engineering construction project has the characteristics of risk big uncertainty, risk, etc. So we should strengthen the construction of the project risk management, is conducive to capital construction and development of the national economy in our country. This article focus on the legal risks in the process of project bidding for the prevention and control.

The Analysis of Contractor’s Risk Clause Based on the FIDIC Construction Contract

2014 ◽  
Vol 687-691 ◽  
pp. 4815-4818
Author(s):  
Zhang Lin Guo ◽  
Ya Zhen Hu ◽  
Jun E Liu
Keyword(s):  
Risk Management ◽  
Construction Project ◽  
Project Risk Management ◽  
Engineering Project ◽  
Project Risk ◽  
Project Contract

Contractors for the construction of the risk in the contract clause clear analysis is an important content of construction project risk management. Based on the 1999 edition of FIDIC contract conditions for construction of the demonstration text as the research object, according to the risk and responsibility on the contractor risk clause matching principle clear classification. To provide the contractor some experience for reference which the contractor could better control of engineering project contract risk.

The Struture Model and Empirical for the Satellite Navigation Engineering Project Risk Management

2013 ◽  
Vol 860-863 ◽  
pp. 3082-3089 ◽  
Author(s):  
Chao Yang
Keyword(s):  
Risk Management ◽  
Three Dimensional ◽  
Satellite Navigation ◽  
Dimensional Structure ◽  
Project Risk Management ◽  
Structure Model ◽  
Engineering Project ◽  
Project Risk ◽  
Modelling Method ◽  
Management Techniques

Project risk management is a vital dimension of project management. Based on the theory of metasynthesis, this dissertation analyses the risk of some satellite navigation engineering project from three aspects of "time", "module" and "risk management logic". Taking this frame as outline, the paper forms a three-dimensional structure model and conducts the empirical research with approaches of grade holographic modelling method, AHP and various risk management techniques. At last, the study concludes some significant guidance on methodology and application for the satellite navigation engineering project.

Conventional Project Risk Management (PRM) Methodologies

2020 ◽  
pp. 35-52
Author(s):  
Yuri G. Raydugin
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Systematic Error ◽  
Project Risk Management ◽  
Project Risk ◽  
Assessment Matrix ◽  
Project Objectives ◽  
Risk Breakdown Structure

Overview of the conventional PRM methodology is based on the introduction of a PRM system that comprises a PRM context, a PRM process, and PRM tools. Typical PRM process steps to identify, address, assess, monitor, etc risks are reviewed to comply with PRM context (i.e. features and challenges of a project). Main sorts of uncertainties related to risks as possible impacts on project objectives—uncertainties of identification, manageability, assessments of impacts and probabilities, and favourability—are discussed. Key PRM tools to support the PRM context and the process—a PRM plan, a bowtie diagram, a risk breakdown structure (RBS), a risk assessment matrix (RAM), and a risk register—are introduced. A role of psychological and organizational bias as a systematic error in the PRM process is elaborated.

Information Technology Project Risk Management: Bridging the Gap between Research and Practice

2012 ◽  
Vol 27 (1) ◽  
pp. 17-34 ◽  
Author(s):  
Hazel Taylor ◽  
Edward Artman ◽  
Jill Palzkill Woelfer
Keyword(s):  
Risk Assessment ◽  
Information Technology ◽  
Risk Management ◽  
Assessment Process ◽  
Project Risk Management ◽  
It Projects ◽  
Project Risk ◽  
Research And Practice ◽  
Risk Assessment Process ◽  
It Project

The gap between research and practice is strikingly evident in the area of information technology (IT) project risk management. In spite of extensive research for over 30 years into IT project risk factors resulting in normative guidance on IT project risk management, adoption of these risk management methods in practice is inconsistent. Managing risk in IT projects remains a key challenge for many organizations. We discuss barriers to the application of normative prescriptions, such as assessments of probability and impact of risk, and suggest a contingency approach, which addresses the uncertainties, complexities, and ambiguities of IT projects and enables early identification of high-risk projects. Specifically, in a case study, we examine how the project management office (PMO) at one organization has bridged the gap between research and practice, developing a contingency-based risk assessment process well founded on research knowledge of project dimensions related to project performance, while also being practical in its implementation. The PMO's risk assessment process, and the risk spider chart that is the primary tool in this assessment, has proven to be effective for surfacing inherent risk at the early stages of IT projects, thereby enabling the recommendation of appropriate management strategies. The PMO's project risk assessment process is a model for other organizations striving to engage in effective and collaborative practices in order to improve project outcomes. The case illustrates the importance of considering the practical constraints of the context of application in order to transform research findings into practices that promote attainment of desired outcomes.

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