Fuzzy Analytic Hierarchy in Project Risk Management - New Stadium Construction Project in Weifang City

2011 ◽  
Vol 243-249 ◽  
pp. 6362-6368
Author(s):  
Yan Zhang ◽  
Chang Jiang Liu
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Construction Projects ◽  
Large Scale ◽  
Construction Project ◽  
Construction Project Management ◽  
Analytic Hierarchy ◽  
Project Risk ◽  
Management Case Study

In the field of engineering and construction, unqualified construction quality, time delays, cost more than expected phenomena to occur. Because of these characteristics such as its large-scale construction projects, long cycle, the production of single and complex, there is greater risk than the production of general products, the risk increases the difficulty of construction project management, operating costs and the possibility of potential losses, therefore, risk management emerged and become an increasingly important integral part of project management. In this paper, fuzzy analytic hierarchy be used to construction project risk assessment, and to order the sort of each risk in order to prevent significant risks. On an actual project - the new stadium construction in Weifang City risk management case study, the reduction of risk of project failure is expected, but also the project is hoped for other industries to provide some reference for risk management.

Educational Prediction Markets: Construction Project Management Case Study

2013 ◽  
Vol 139 (2) ◽  
pp. 134-138 ◽  
Author(s):  
Ivan Damnjanovic ◽  
Vahid Faghihi ◽  
Chyllis Scott ◽  
Erin McTigue ◽  
Kenneth Reinschmidt
Keyword(s):  
Project Management ◽  
Construction Project ◽  
Prediction Markets ◽  
Construction Project Management ◽  
Management Case Study

scholarly journals RISK MANAGEMENT IN PROJECTS: PECULIARITIES OF LITHUANIAN CONSTRUCTION COMPANIES / RIZIKOS VALDYMAS PROJEKTUOSE: LIETUVOS STATYBOS ĮMONIŲ SAVITUMAI

2011 ◽  
Vol 15 (1) ◽  
pp. 60-73 ◽  
Author(s):  
Nerija Banaitienė ◽  
Audrius Banaitis ◽  
Artūras Norkus
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Construction Projects ◽  
Construction Project ◽  
Critical Factor ◽  
Construction Project Management ◽  
Construction Companies ◽  
Use Of Resources ◽  
Risk Management Process ◽  
Negative Impacts

Risk analysis and management is nowadays a critical factor to successful construction project management, as construction projects tend to be more complex, dynamic, always unique, and competition increasingly tougher. risk management helps the project participants—client, contractor or developer, consultant, and supplier—to meet their commitments and minimize negative impacts on construction project scope, cost, schedule (and quality, as a Result). The benefits of the risk management process include identifying and analyzing risks, and improvement of construction project management processes and effective use of resources. This paper reports the research that aims to discover how construction companies perceive the significance of the construction projects risks they face and the extent to which they employ potential risk responses. Santrauka Šiandien rizikos analizė ir valdymas yra svarbūs sėkmingam statybos projektų valdymui, nes statybos projektai tampa vis sudėtingesni, dinamiškesni, visada unikalūs, o konkurencija tarp statybos bendrovių taip pat didėja. Rizikos valdymas padeda projekto dalyviams—užsakovui, plėtotojui, rangovui, konsultantui ir tiekėjui—vykdyti savo įsipareigojimus ir sumažinti neigiamą taką statybos projekto apimčiai, išlaidoms, tvarkaraščiui ir kokybei kaip rezultatui. Rizikos valdymo proceso metu sistemingai nustatomi, analizuojami ir reaguojama į potencialius rizikos veiksnius, todėl statybos projektai valdomi efektyviau, veiksmingai naudojami ištekliai. Šiame straipsnyje trumpai pristatomas tyrimas, kuriuo siekiama sužinoti, kaip statybos bendrovės suvokia statybos projektų rizikos veiksnius, su kuriais jiems tenka susidurti, ir kokią reagavimo strategiją ir atsakomuosius veiksmus jos renkasi.

scholarly journals APPLICATION OF FUZZY AHP FOR RANKING AND SELECTION OF ALTERNATIVES IN CONSTRUCTION PROJECT MANAGEMENT

2017 ◽  
Vol 23 (8) ◽  
pp. 1123-1135 ◽  
Author(s):  
Natasa PRASCEVIC ◽  
Zivojin PRASCEVIC
Keyword(s):  
Project Management ◽  
Construction Projects ◽  
Fuzzy Numbers ◽  
Fuzzy Ahp ◽  
Construction Project ◽  
Construction Project Management ◽  
Analytic Hierarchy ◽  
Fuzzy Mean ◽  
Ranking Of Alternatives ◽  
Fuzzy Weights

The construction project management (CPM) is very important and large segment of entire project manage­ment (PM). Realisation of construction projects is usually long term process which requests significant financial, mate­rial, human and other resources to fulfil contracted obligations and achieve a good quality of works. Therefore, making good decisions with the satisfaction of various criteria is one of the main conditions to achieve planed business objec­tives and finish the project in contracted time with good quality. This paper proposes a new procedure for determination of the weights of criteria and alternatives in the Fuzzy analytic hierarchy process (FAHP) with trapezoidal fuzzy number using a new method for finding eigenvelues and eigenvectors of the criteria and alternatives, which is based on expected values of the fuzzy numbers and their products. Local and global fuzzy weights of the alternatives are determined using linear programming. In the paper a formula for ranking fuzzy numbers by reduced generalized fuzzy mean is also pro­posed, since ranking by the coefficient of variation is not always reliable. In the presented case study, applying proposed method, from imprecise input data are obtained enough accurate and useful results for rational ranking of alternatives related to the project realization.

scholarly journals Risk Management Analysis of Follow-up Audit in the Construction Stage of Construction Projects

2021 ◽  
Vol 2 (2) ◽  
Author(s):  
Yongjun Luo
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Project Management ◽  
Construction Industry ◽  
Construction Projects ◽  
Construction Project ◽  
Construction Project Management ◽  
Construction Process ◽  
Construction Stage

The construction project serves as one of the most important projects in the construction industry. The high cost and the particularity in the implementation generate high risks in the investment and construction process. Over the years, the development of construction project management methods has promoted the management of risk factors. This paper reviews the suggestions of risk management of follow-up audit in construction stage and evaluates its application in construction projects.

Risk Management in Oil Refinery Construction Projects

2013 ◽  
Vol 411-414 ◽  
pp. 2313-2316 ◽  
Author(s):  
Alexander Ginzburg ◽  
Alexey Khripushin
Keyword(s):  
Risk Management ◽  
Organizational Change ◽  
Project Management ◽  
Comparative Analysis ◽  
Construction Projects ◽  
Construction Project ◽  
Oil Refinery ◽  
Construction Project Management ◽  
Project Management Office ◽  
Excessive Number

This paper describes the principles of risk management during organizational change at the oil refinery with the use of comparative analysis. Authors demonstrate the effectiveness of risk management of insufficient / excessive number of staff in the construction Project Management Office .

scholarly journals Pythagorean 2-Tuple Linguistic VIKOR Method for Evaluating Human Factors in Construction Project Management

Mathematics ◽  
2019 ◽  
Vol 7 (12) ◽  
pp. 1149 ◽  
Author(s):  
Tingting He ◽  
Guiwu Wei ◽  
Jianping Lu ◽  
Cun Wei ◽  
Rui Lin
Keyword(s):  
Project Management ◽  
Human Factors ◽  
Construction Projects ◽  
Safety Management ◽  
Construction Project ◽  
Construction Project Management ◽  
Vikor Method ◽  
Multiple Attribute ◽  
Todim Method ◽  
Reform And Opening Up

Since the reform and opening up, Chinese economic and social development has undergone great changes, and the people’s living standards have improved markedly. For the national economy, the engineering construction is not only a carrier for specific economic tasks, but also a driving force for rapid and sustained economic development. With the continuous expansion of the scale of construction projects, safety management problems of construction projects are constantly exposed. How to effectively avoid accidents has become an important issue to be solved urgently in the construction industry. This paper mainly evaluates human factors in the process of construction project management, such as workers’ proficiency, workers’ safety awareness, technical workers’ quality, and workers’ emergency capacity, with the purpose of helping China’s construction projects proceed smoothly. In this research, we provide a multiple attribute group decision-making (MAGDM) technique based on Pythagorean 2-tuple linguistic numbers (P2TLNs) and the VIseKriterijumska Optimizacija I KOmpromisno Resenje (VIKOR) method for evaluating the human factors of construction projects. P2TLNs are used to represent the performance assessments of decision makers. Relying on a P2TLWA operator, P2TLWG operator, and the essential VIKOR method, a general framework is established. An application is presented to test the validity of the new method, and a comparative analysis with two algorithms and the P2TL-TODIM method is illustrated with detail.

Determining Contingencies in the Management of Construction Projects

2019 ◽  
Vol 50 (2) ◽  
pp. 226-242 ◽  
Author(s):  
José I. Ortiz ◽  
Eugenio Pellicer ◽  
Keith R. Molenaar
Keyword(s):  
Project Management ◽  
External Validity ◽  
Construction Projects ◽  
Construction Project ◽  
Construction Project Management ◽  
Depth Analysis ◽  
Different Types ◽  
General Contractors ◽  
Project Objectives

This research describes the managerial approaches that contractors follow to determine different types of contingencies in construction project management. Two large Spanish general contractors were selected for an in-depth analysis. Interviews and surveys were conducted with six additional companies to explore the external validity of the findings. Managers constrain time and cost buffers through project objectives, applying heuristics to determine inventory buffers. The management of capacity buffers is entrusted to subcontractors. The contractors take advantage of scope and quality buffers to meet project objectives but rarely share these buffers with the owner, unless the owner is an internal client.

Actual Trends in Construction Project Management in Romania

2017 ◽  
Vol 21 ◽  
pp. 587-595 ◽  
Author(s):  
Ion Șerbanoiu ◽  
Marina Verdeș ◽  
Adrian Alexandru Şerbănoiu ◽  
Bogdan Vasile Șerbanoiu ◽  
Mihaela Munteanu
Keyword(s):  
Project Management ◽  
Construction Industry ◽  
Construction Projects ◽  
Code Of Ethics ◽  
Construction Project ◽  
Construction Project Management ◽  
Professional Conduct ◽  
Current Trends ◽  
Professional Project ◽  
Tools And Techniques

The current trends in the construction industry, considering the magnitude and complexity of construction projects required the development of an appropriate methodology in the design, commissioning work and completion of works. The objective imposed creation of the "Office of Project Management" and all processes, tools and techniques of project management respects besides applicable standards and legislation construction, also imposed code of ethics and professional conduct of the PMI that guides practitioners professional project management, construction engineers, installers, architects etc. and describes the expectations that they have of themselves and of others.

scholarly journals Network Theory-Based Analysis of Construction Project Risks

2016 ◽  
Vol 5 (2) ◽  
pp. 24
Author(s):  
Hafida Lmoussaoui ◽  
Hicham Jamouli
Keyword(s):  
Risk Management ◽  
Network Theory ◽  
Construction Projects ◽  
Construction Project ◽  
Risk Identification ◽  
Project Risk Management ◽  
Monitoring And Control ◽  
Project Risk ◽  
Novel Approach ◽  
Project Risks

<p>Because of their specific and complex characteristics, construction projects are exposed to numerous risks of various natures, which make their management more difficult. In this setting, Project Risk Management is an indispensable activity for their successful delivery. It consists in the risk identification, assessment, prioritization, treatment, monitoring and control. This paper presents a novel approach for the identification of construction project risks and a network theory-based methodology for their modelling and analysis. These models serve as a powerful tools comparing to classical methods and provide a support for decision-making regarding Project Risk Management. A case study of a real construction project is used to illustrate these findings.</p>

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