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Development Of A Risk Management Decision Support System For International Construction Projects
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Book Synopsis DEVELOPMENT OF A RISK MANAGEMENT DECISION SUPPORT SYSTEM FOR INTERNATIONAL CONSTRUCTION PROJECTS. by :
Download or read book DEVELOPMENT OF A RISK MANAGEMENT DECISION SUPPORT SYSTEM FOR INTERNATIONAL CONSTRUCTION PROJECTS. written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: It is agreed upon by many researchers that, although risk management (RM) is accepted as one of the critical success factors for construction projects, project participants generally do not have sufficient knowledge pertinent to risk management concept and the number of risk management support tools which facilitate the process is rather low. In order to facilitate risk management activities, decision support tools that will enable risk identification, analysis and response strategy formulation should be developed. Decision support tools are necessary for systematic identification of risks, scenario generation, proactive management of risk and integration of risk management activities with other project management functions such as planning, cost estimating and monitoring project success. The aim of this study is to introduce a conceptual risk management model and a prototype risk management decision support system (DSS) which is applicable to construction projects. The proposed decision support system, namely Integrated Risk Management System (IRMS), is designed to support the user at all phases of the risk management process and to integrate risk management activities with other project management functions in the bid preparation stage of international construction projects. A risk management process model has been developed as well as a risk information model so that IRMS can be used for systematic management of risk by all parties involved in a construction project. Major functions of IRMS include, risk identification by using a built-in Hierarchical Risk Breakdown Structure (HRBS), risk analysis by Monte Carlo (MC) simulation, risk assessment by risk rating, risk re-assessment, response generation, risk monitoring and corporate memory. The applicability of the system has been tested by a real case study and its functionality has been demonstrated using the data associated with the case study.
Book Synopsis Enterprise Risk Management in International Construction Operations by : Xianbo Zhao
Download or read book Enterprise Risk Management in International Construction Operations written by Xianbo Zhao and published by Springer. This book was released on 2015-05-18 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides readers an understanding of the implementation of Enterprise Risk Management (ERM) for international construction operations. In an extended case study, it primarily focuses on Chinese construction firms (CCFs) based in Singapore. In this regard, the book explains the differences and similarities between Risk Management (RM), Project Risk Management (PRM) and ERM in the construction industry, and examines their linkages for international construction operations in a broader context. The explanation elaborates on how companies may adopt and implement RM, PRM and ERM as appropriate in their various operations, both in their home market as well as in overseas host markets. The book also reviews the whole spectrum of work relating to organizational behavior (OB) as one of the key underpinnings for companies to evaluate and implement ERM. It will benefit practitioners from the industry as well as academics interested in the implementation of ERM practices in international construction operations.
Book Synopsis The 10th International Conference on Engineering, Project, and Production Management by : Kriengsak Panuwatwanich
Download or read book The 10th International Conference on Engineering, Project, and Production Management written by Kriengsak Panuwatwanich and published by Springer Nature. This book was released on 2020-03-03 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book gathers the proceedings of the EPPM 2019 conference, and highlights innovative work by researchers and practitioners active in various industries around the globe. Recent advances in science and technology have made it possible to seamlessly connect and integrate various elements of engineering systems, and opened the door for innovations that have transformed how we live and work. While these developments have yielded enhanced efficiency and numerous improvements in our current practices, the problems caused by the increased complexity of these integrated systems can be extremely difficult. Accordingly, solving these problems involves applying cross-disciplinary expertise to address the heterogeneity of the various elements inherent in the system. These proceedings address four main themes: (I) Smart and Sustainable Construction, (II) Advances in Project Management Practices, (III) Toward Safety and Productivity Improvement, and (IV) Smart Manufacturing, Design, and Logistics. As such, they will be of interest to and valuable to researchers and practitioners in a range of industries seeking an update on the translational fields of engineering, project, and production management.
Book Synopsis 10th Symposium Construction Innovation and Global Competitiveness by : Ben Obinero Uwakwhe
Download or read book 10th Symposium Construction Innovation and Global Competitiveness written by Ben Obinero Uwakwhe and published by CRC Press. This book was released on 2002-09-23 with total page 1510 pages. Available in PDF, EPUB and Kindle. Book excerpt: This two-volume set comprises the proceedings of the 2002 symposium concerned with innovation in the construction industry and global competition. Approximately 115 papers address topics ranging from business improvement to the impact of innovation on the built environment; and globalization and competitiveness.
Book Synopsis Proceedings of the 24th International Symposium on Advancement of Construction Management and Real Estate by : Gui Ye
Download or read book Proceedings of the 24th International Symposium on Advancement of Construction Management and Real Estate written by Gui Ye and published by Springer Nature. This book was released on 2021-06-07 with total page 2252 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers various current and emerging topics in construction management and real estate. Papers selected in this book cover a wide variety of topics such as new-type urbanization, planning and construction of smart city and eco-city, urban–rural infrastructure development, land use and development, housing market and housing policy, new theory and practice of construction project management, big data application, smart construction and BIM, international construction (i.e., belt and road project), green building, off-site prefabrication, rural rejuvenation and eco-civilization and other topics related to construction management and real estate. These papers provide useful references to both scholars and practitioners. This book is the documentation of “The 24th International Symposium on Advancement of Construction Management and Real Estate,” which was held in Chongqing, China.
Book Synopsis Risk Management in Projects by : Martin Loosemore
Download or read book Risk Management in Projects written by Martin Loosemore and published by Taylor & Francis. This book was released on 2012-09-10 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Project managers in construction and civil engineering need to base their decisions on realistic information about risk and public perceptions of risk. This second edition of the original practical and straightforward text retains the easy-to-read format, but has been expanded to encompass the entire risk management process and to give a fuller presentation of how risk is generally perceived. Two new chapters cover risk identification and risk response, and the chapters on risk analysis have been completely reorganized. There is also greater emphasis on the theory behind the principles, and an expanded bibliography is given to guide an exploration of the subject in greater detail. The book demystifies risk management by presenting the subject in simple and practical terms, free of technical jargon, and case studies are used extensively to enliven the text and to illustrate the concepts discussed.
Book Synopsis Construction Risk Management Decision Making by : Alex C. Arthur
Download or read book Construction Risk Management Decision Making written by Alex C. Arthur and published by John Wiley & Sons. This book was released on 2021-12-13 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: CONSTRUCTION RISK MANAGEMENT DECISION MAKING Explores the relevance of systems thinking and behavioral science in construction risk management Effective risk management is a vital component of all successful construction projects. Although quantitative tools for evaluating data and minimizing risk are readily available, construction managers commonly adopt a more innate, experience-based approach. In Construction Risk Management Decision Making, project manager and senior consultant Alex C. Arthur provides step-by-step advice on assessing and prioritizing risk using qualitative decision-making systems in the construction industry. Incorporating key theories and concepts from systems thinking and behavioral science, this highly practical guide focuses on the behavior patterns of real people in the industry, rather than complex quantitative techniques and data. Concise, easy-to-understand chapters highlight the current practices of construction risk management while helping readers view risk and decision making from a broader perspective. Throughout the book, the author presents invaluable insights into the ways construction professionals think and behave in the real world. Addresses the actual risk management practices of construction professionals Applies human behavioral theories to the study of construction risk management decision making Illustrates the highly intuitive approaches prevalent in various construction projects Features real-life case studies and practical examples throughout Construction Risk Management Decision Making is an excellent textbook for advanced students in project management, engineering, construction, and surveying courses, and a must-have guide for practitioners of construction management, surveying, and architecture.
Book Synopsis Advances in Construction Management by : Lee Yee Loon
Download or read book Advances in Construction Management written by Lee Yee Loon and published by Springer Nature. This book was released on 2022-01-19 with total page 569 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the select proceedings of the International Conference on Advances in Construction Materials and Management (ACMM 2021). It discusses the recent innovations towards construction management, building technology and new materials in practice in civil engineering. Various topics covered include architecture and urban planning, smart materials and structures, GIS in construction application, transportation materials and engineering, geotechnical applications in construction, energy and sustainability, green building technologies and materials and construction management. The book will be useful for beginners, researchers and professionals working in the area of civil engineering.
Book Synopsis Development of a risk based decision analysis system for project management in construction projects by : Jesús Alfredo Sandoval-Wong
Download or read book Development of a risk based decision analysis system for project management in construction projects written by Jesús Alfredo Sandoval-Wong and published by . This book was released on 2012 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Proceedings of the 6th International Conference on Decision Support System Technology – ICDSST 2020 on Cognitive Decision Support Systems & Technologies by : Isabelle Linden
Download or read book Proceedings of the 6th International Conference on Decision Support System Technology – ICDSST 2020 on Cognitive Decision Support Systems & Technologies written by Isabelle Linden and published by EWG-DSS. This book was released on 2021-05-27 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Decision Support System (DSS) for Construction Project Risk Analysis and Evaluation Via Evidential Reasoning (ER). by : Abdulmaten Taroun
Download or read book Decision Support System (DSS) for Construction Project Risk Analysis and Evaluation Via Evidential Reasoning (ER). written by Abdulmaten Taroun and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This research explores the theory and practice of risk assessment and project evaluationand proposes novel alternatives. Reviewing literature revealed a continuous endeavourfor better project risk modelling and analysis. A number of proposals for improving theprevailing Probability-Impact (P-I) risk model can be found in literature. Moreover,researchers have investigated the feasibility of different theories in analysing projectrisk. Furthermore, various decision support systems (DSSs) are available for aidingpractitioners in risk assessment and decision making. Unfortunately, they are sufferingfrom a low take-up. Instead, personal judgment and past experience are mainly used foranalysing risk and making decisions. In this research, a new risk model is proposed through extending the P-I risk model toinclude a third dimension: probability of impact materialisation. Such an extensionreflects the characteristics of a risk, its surrounding environment and the ability ofmitigating its impact. A new assessment methodology is devised. Dempster-ShaferTheory of Evidence (DST) is researched and presented as a novel alternative toProbability Theory (PT) and Fuzzy Sets Theory (FST) which dominate the literature ofproject risks analysis. A DST-based assessment methodology was developed forstructuring the personal experience and professional judgment of risk analysts andutilising them for risk analysis. Benefiting from the unique features of the EvidentialReasoning (ER) approach, the proposed methodology enables analysts to express theirevaluations in distributed forms, so that they can provide degrees of belief in apredefined set of assessment grades based on available information. This is a veryeffective way for tackling the problem of lack of information which is an inherentfeature of most projects during the tendering stage. It is the first time that such anapproach is ever used for handling construction risk assessment. Monetary equivalent isused as a common scale for measuring risk impact on various project success objectives,and the evidential reasoning (ER) algorithm is used as an assessment aggregation toolinstead of the simple averaging procedure which might not be appropriate in allsituations. A DST-based project evaluation framework was developed using projectrisks and benefits as evaluation attributes. Monetary equivalent was used also as acommon scale for measuring project risks and benefits and the ER algorithm as anaggregation tool. The viability of the proposed risk model, assessment methodology and projectevaluation framework was investigated through conducting interviews with constructionprofessionals and administering postal and online questionnaires. A decision supportsystem (DSS) was devised to facilitate the proposed approaches and to perform therequired calculations. The DSS was developed in light of the research findingsregarding the reasons of low take-up of the existing tools. Four validation case studieswere conducted. Senior managers in separate British construction companies tested thetool and found it useful, helpful and easy to use. It is concluded that the proposed risk model, risk assessment methodology and projectevaluation framework could be viable alternatives to the existing ones. Professionalexperience was modelled and utilised systematically for risk and benefit analysis. Thismay help closing the gap between theory and practice of risk analysis and decisionmaking in construction. The research findings recommend further exploration of thepotential applications of DST and ER in construction management domain.
Book Synopsis Risk Management in Projects by : Martin Loosemore
Download or read book Risk Management in Projects written by Martin Loosemore and published by Routledge. This book was released on 2012-09-10 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Project managers in construction and civil engineering need to base their decisions on realistic information about risk and public perceptions of risk. This second edition of the original practical and straightforward text retains the easy-to-read format, but has been expanded to encompass the entire risk management process and to give a fuller presentation of how risk is generally perceived. Two new chapters cover risk identification and risk response, and the chapters on risk analysis have been completely reorganized. There is also greater emphasis on the theory behind the principles, and an expanded bibliography is given to guide an exploration of the subject in greater detail. The book demystifies risk management by presenting the subject in simple and practical terms, free of technical jargon, and case studies are used extensively to enliven the text and to illustrate the concepts discussed.
Book Synopsis Risk Management Practices in Construction by : Ayodeji E. Oke
Download or read book Risk Management Practices in Construction written by Ayodeji E. Oke and published by Springer Nature. This book was released on 2023-07-26 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume describes risk management practices in the construction industry in selected countries, with an emphasis on developing countries and how these countries can learn from the practices in more developed ones. Risk management in the construction industry can be difficult to understand due to the various complex procedures that are involved and to the unique concerns and contexts associated with each project. The industry has been a key contributor to the economic and social development of many countries of the world and is increasingly incorporating sustainability into its practices. However it is plagued by various risks that can affect the quality, cost, time and overall sustainability of projects. Therefore, there is need to effectively manage risk in order to ensure timely completion of construction projects in good quality and within budget, which in turn results in more efficient and often more sustainable practices. The book is divided into four parts. The first section features a primer on risk management practices as they pertain to the construction industry. The second part dives in to describe risk management in selected developing countries, including Malaysia, Qatar, Saudi-Arabia, South Africa, Sri-Lanka and Tanzania, as well as the city of Hong Kong. The third section describes the construction risk management practices of a selection of more developed countries with known risk management institutes and established practices of risk management. These countries include Australia, Canada, Sweden and United States of America. The fourth part offers a general overview of the definition, concepts and process of risk management based on reviewed literature. It also discusses the benefits of effective risk management to clients and to project teams, especially from the perspective of ensuring sustainability. This last section also summarizes the risk management practices in both developing and developed countries for the purpose of improving the practices in the former by learning from the latter.
Book Synopsis Integrated Risk and Vulnerability Management Assisted by Decision Support Systems by : A.V. Gheorghe
Download or read book Integrated Risk and Vulnerability Management Assisted by Decision Support Systems written by A.V. Gheorghe and published by Springer Science & Business Media. This book was released on 2008-09-30 with total page 495 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction This book includes terms of reference and offers an augmented volume of relevant work initiated within the comprehensive concept of “Knowledge Management and Risk Governance”. The latter stood for the initial title of an ad-hoc meeting held in Ascona, Switzerland, organized by the Technological Risk Management Unit of the Joint Research Centre of the European Commission (JRC) and the KOVERS Centre of Excellence in Risk and Safety Sciences of the Swiss Federal Institute of Technology, ETH Zurich. Background Risk governance, in addition to the continuous interest of researchers, has recently attracted the attention of policy-makers and the media and the concern of the public. New and emerging risks in various fields and a number of risk-related issues increased the public interest and prompted for a new framework in dealing with risks. The Conference on Science and Governance organized by the European Commission in October 2000 is one of the international forums addressing this issue. Other recent events such as the establishment of the International Risk Governance Council outline the importance of the governance concept in relation to that of risk management (see www.irgc.org). At the same time noticeable progress has been made in Information Technologies and Decision Support, passing from the process of information PREFACE xvi to the process of knowledge. In this context new tools and methods became available, whose application in risk management may be beneficial.
Author :Civil Engineering Research Foundation Publisher :ASCE Publications ISBN 13 :9780784474112 Total Pages :148 pages Book Rating :4.4/5 (741 download)
Book Synopsis Construction Industry Research Prospectuses for the 21st Century by : Civil Engineering Research Foundation
Download or read book Construction Industry Research Prospectuses for the 21st Century written by Civil Engineering Research Foundation and published by ASCE Publications. This book was released on 1996-01-01 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presented at Engineering and Construction for Sustainable Development in the 21st Century, held in Washington, D.C., February 4-8, 1996. Sponsored by the Civil Engineering Research Foundation. This report presents 38 prospectuses developed by industry experts from more than 25 countries as part of an international collaborative agenda for the construction industry to advance innovation in support of sustainable development. The prospectuses, or proposed collaborative projects, identify challenges facing the engineering and construction industry and the problems associated with implementing innovative technologies. The prospectuses also recommend solutions to these challenges; detail the benefits of these solutions; identify proposed collaborative partners; and estimate the cost and schedule associated with implementing these projects.
Author :Vincent Ribière and Lugkana Worasinchai Publisher :Academic Conferences and publishing limited ISBN 13 :1910810738 Total Pages :471 pages Book Rating :4.9/5 (18 download)
Book Synopsis ICICKM2015-12th International Conference on Intellectual Capital Knowledge Management & Organisational Learning by : Vincent Ribière and Lugkana Worasinchai
Download or read book ICICKM2015-12th International Conference on Intellectual Capital Knowledge Management & Organisational Learning written by Vincent Ribière and Lugkana Worasinchai and published by Academic Conferences and publishing limited. This book was released on 2015-10-20 with total page 471 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Proceedings of the 26th International Symposium on Advancement of Construction Management and Real Estate by : Hongling Guo
Download or read book Proceedings of the 26th International Symposium on Advancement of Construction Management and Real Estate written by Hongling Guo and published by Springer Nature. This book was released on 2022-09-01 with total page 1687 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book of CRIOCM 2021 (26th International Conference on Advancement of Construction Management and Real Estate) presents the latest developments in real estate and construction management around the globe. The conference was organized by the Chinese Research Institute of Construction Management (CRIOCM) working in close collaboration with Tsinghua University. Written by international academics and professionals, the book discusses the latest achievements, research findings and advances in frontier disciplines in the field of construction management and real estate. Covering a wide range of topics, including building information modeling, big data, geographic information systems, housing policies, management of infrastructure projects, intelligent construction and smart city, real estate finance and economics and urban planning and sustainability, the discussions provide valuable insights into the implementation of advanced construction project management and real estate market in China and abroad. The book offers an outstanding resource for academics and professionals.
