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Risk Management Practices In Construction
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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 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 2021-12-01 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 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 Risk Management in Engineering and Construction by : Stephen Ogunlana
Download or read book Risk Management in Engineering and Construction written by Stephen Ogunlana and published by Routledge. This book was released on 2019-09-09 with total page 709 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today’s businesses are driven by customer ‘pull’ and technological ‘push’. To remain competitive in this dynamic business world, engineering and construction organizations are constantly innovating with new technology tools and techniques to improve process performance in their projects. Their management challenge is to save time, reduce cost and increase quality and operational efficiency. Risk management has recently evolved as an effective method of managing both projects and operations. Risk is inherent in any project, as managers need to plan projects with minimal knowledge and information, but its management helps managers to become proactive rather than reactive. Hence, it not only increases the chance of project achievement, but also helps ensure better performance throughout its operations phase. Various qualitative and quantitative tools are researched extensively by academics and routinely deployed by practitioners for managing risk. These have tremendous potential for wider applications. Yet the current literature on both the theory and practice of risk management is widely scattered. Most of the books emphasize risk management theory but lack practical demonstrations and give little guidance on the application of those theories. This book showcases a number of effective applications of risk management tools and techniques across product and service life in a way useful for practitioners, graduate students and researchers. It also provides an in-depth understanding of the principles of risk management in engineering and construction.
Book Synopsis Risk Management for Design and Construction by : Ovidiu Cretu
Download or read book Risk Management for Design and Construction written by Ovidiu Cretu and published by John Wiley & Sons. This book was released on 2011-05-04 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essential risk assessment guide for civil engineering, design, and construction Risk management allows construction professionals to identify the risks inherent in all projects, and to provide the tools for evaluating the probabilities and impacts to minimize the risk potential. This book introduces risk as a central pillar of project management and shows how a project manager can be prepared for dealing with uncertainty. Written by experts in the field, Risk Management for Design and Construction uses clear, straightforward terminology to demystify the concepts of project uncertainty and risk. Highlights include: Integrated cost and schedule risk analysis An introduction to a ready-to-use system of analyzing a project's risks and tools to proactively manage risks A methodology that was developed and used by the Washington State Department of Transportation Case studies and examples on the proper application of principles Information about combining value analysis with risk analysis "This book is a must for professionals who are seeking to move towards a proactive risk-centric management style. It is a valuable resource for students who are discovering the intricacies of uncertainties and risks within value estimation. For professionals, the book advocates for identifying and analyzing 'only' risks whose impact are of consequence to a project's performance." JOHN MILTON, PHD, PE Director of Enterprise Risk Management, Washington State Department of Transportation
Book Synopsis Managing Risk in Construction Projects by : Nigel J. Smith
Download or read book Managing Risk in Construction Projects written by Nigel J. Smith and published by John Wiley & Sons. This book was released on 2014-02-03 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment in any new project invariably carries risk but the construction industry is subject to more risk and uncertainty than perhaps any other industry. This guide for construction managers, project managers and quantity surveyors as well as for students shows how the risk management process improves decision-making. Managing Risk in Construction Projects offers practical guidance on identifying, assessing and managing risk and provides a sound basis for effective decision-making in conditions of uncertainty. The book focuses on theoretical aspects of risk management but also clarifies procedures for undertaking and utilising decisions. This blend of theory and practice is the real message of the book and, with a strong authorship team of practitioners and leading academics, the book provides an authoritative guide for practitioners having to manage real projects. It discusses a number of general concepts, including projects, project phases, and risk attitude before introducing various risk management techniques. This third edition has been extended to recognize the reality of multi-project or programme management and the risks in this context; to highlight the particular problems of risk in international joint ventures; and to provide more coverage of PFI and PPP. With case studies and examples of good practice, the book offers the distilled knowledge of over 100 man-years of experience in working on all aspects of project risk, giving sound practical guidance on identifying, assessing and managing risk.
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 Risk Management and Construction by : Roger Flanagan
Download or read book Risk Management and Construction written by Roger Flanagan and published by Wiley-Blackwell. This book was released on 1993-08-20 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: The construction industry is subject to more risk and uncertainty than perhaps any other industry. Yet, surprisingly, managerial techniques used to identify, analyse and respond to risk were not applied in the industry until the 80's. Existing texts deal with the theoretical concepts of risk and the techniques that identify and manage it. This book provides a set of tools that enable these management techniques to be put into practice in the construction industry.
Book Synopsis Managing Risk in Projects by : Dr David Hillson
Download or read book Managing Risk in Projects written by Dr David Hillson and published by Gower Publishing, Ltd.. This book was released on 2012-09-28 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Projects are risky undertakings, and modern approaches to managing projects recognise the central need to manage the risk as an integral part of the project management discipline. Managing Risk in Projects places risk management in its proper context in the world of project management and beyond, and emphasises the central concepts that are essential in order to understand why and how risk management should be implemented on all projects of all types and sizes, in all industries and in all countries. The generic approach detailed by David Hillson is consistent with current international best practice and guidelines (including 'A Guide to the Project Management Body of Knowledge' (PMBoK) and the 'Project Risk Management Practice Standard' from PMI, the 'APM Body of Knowledge' and 'Project Risk Analysis & Management (PRAM) Guide' from APM, 'Management of Risk: Guidance for Practitioners' from OGC, and the forthcoming risk standard from ISO) but David also introduces key developments in the risk management field, ensuring readers are aware of recent thinking, focusing on their relevance to practical application. Throughout, the goal is to offer a concise description of current best practice in project risk management whilst introducing the latest relevant developments, to enable project managers, project sponsors and others responsible for managing risk in projects to do just that - effectively.
Book Synopsis Data Analytics for Engineering and Construction Project Risk Management by : Ivan Damnjanovic
Download or read book Data Analytics for Engineering and Construction Project Risk Management written by Ivan Damnjanovic and published by Springer. This book was released on 2019-05-23 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a step-by-step guidance on how to implement analytical methods in project risk management. The text focuses on engineering design and construction projects and as such is suitable for graduate students in engineering, construction, or project management, as well as practitioners aiming to develop, improve, and/or simplify corporate project management processes. The book places emphasis on building data-driven models for additive-incremental risks, where data can be collected on project sites, assembled from queries of corporate databases, and/or generated using procedures for eliciting experts’ judgments. While the presented models are mathematically inspired, they are nothing beyond what an engineering graduate is expected to know: some algebra, a little calculus, a little statistics, and, especially, undergraduate-level understanding of the probability theory. The book is organized in three parts and fourteen chapters. In Part I the authors provide the general introduction to risk and uncertainty analysis applied to engineering construction projects. The basic formulations and the methods for risk assessment used during project planning phase are discussed in Part II, while in Part III the authors present the methods for monitoring and (re)assessment of risks during project execution.
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 The Owner's Role in Project Risk Management by : National Research Council
Download or read book The Owner's Role in Project Risk Management written by National Research Council and published by National Academies Press. This book was released on 2005-03-25 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: Effective risk management is essential for the success of large projects built and operated by the Department of Energy (DOE), particularly for the one-of-a-kind projects that characterize much of its mission. To enhance DOE's risk management efforts, the department asked the NRC to prepare a summary of the most effective practices used by leading owner organizations. The study's primary objective was to provide DOE project managers with a basic understanding of both the project owner's risk management role and effective oversight of those risk management activities delegated to contractors.
Book Synopsis Utilization of risk management practices by construction project managers in the United States by : M. Magdalena Ryor
Download or read book Utilization of risk management practices by construction project managers in the United States written by M. Magdalena Ryor and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How to Manage Project Opportunity and Risk by : Stephen Ward
Download or read book How to Manage Project Opportunity and Risk written by Stephen Ward and published by John Wiley & Sons. This book was released on 2011-11-30 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since I wrote the Foreword for the second edition of this book, risk management processes have become much more widely used, but controversy about what should be done and how best to do it has grown. Managing risk is a risky business. Chapman and Ward provide an in-depth explanation of why it is important to understand and manage underlying uncertainty in all its forms, in order to realise opportunities more fully and enhance corporate performance. They show what best practice should look like. The implications go well beyond the conventional wisdom of project risk management, providing an enlightening new perspective. —Professor Tony M. Ridley Imperial College London, Past President, Institution of Civil Engineers Chris Chapman and Stephen Ward continue to educate the profession with this masterful exposition of the differences between, and the potentials for combinations of, risk, uncertainty and opportunity. Particularly welcome is the way they integrate this trio into the project lifecycle – the bedrock of project management control and organization. —Peter W.G. Morris Head of School and Professor of Construction and Project Management University College London Chris Chapman and Stephen Ward’s books on Project Risk Management have been an essential part of my repertoire for twenty years, and they are top of my recommended reading for the courses I do on that subject. In this book they have enhanced their previous work to focus on uncertainty management and emphasise more strongly opportunities for improving project performance, rather then just identifying what can go wrong. A structured process is an essential part of managing project uncertainty, and their process is one of the most powerful. This book will be added to my repertoire. —Rodney Turner Professor of Project Management, SKEMA Business School Lille A profoundly important book. With How to Manage Project Opportunity and Risk, Chris Chapman and Stephen Ward take a good thing and make it better. Members of the project management profession have been influenced for years by their insights into project risk management. With this latest instalment the authors demonstrate that risk and uncertainty needn’t be dreaded; in fact, the reverse side of the ‘risk coin’ has always been opportunity. My sincere appreciation to Chapman and Ward for turning this particular coin over and showing readers, academic and practitioner alike, the opportunity embedded in managing projects. —Jeffrey K. Pinto Andrew Morrow and Elizabeth Lee Black Chair in Management of Technology Sam and Irene Black School of Business, Penn State Erie
Book Synopsis Risk Management for Design and Construction by : Ovidiu Cretu
Download or read book Risk Management for Design and Construction written by Ovidiu Cretu and published by John Wiley & Sons. This book was released on 2011-06-15 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essential risk assessment guide for civil engineering, design, and construction Risk management allows construction professionals to identify the risks inherent in all projects, and to provide the tools for evaluating the probabilities and impacts to minimize the risk potential. This book introduces risk as a central pillar of project management and shows how a project manager can be prepared for dealing with uncertainty. Written by experts in the field, Risk Management for Design and Construction uses clear, straightforward terminology to demystify the concepts of project uncertainty and risk. Highlights include: Integrated cost and schedule risk analysis An introduction to a ready-to-use system of analyzing a project's risks and tools to proactively manage risks A methodology that was developed and used by the Washington State Department of Transportation Case studies and examples on the proper application of principles Information about combining value analysis with risk analysis "This book is a must for professionals who are seeking to move towards a proactive risk-centric management style. It is a valuable resource for students who are discovering the intricacies of uncertainties and risks within value estimation. For professionals, the book advocates for identifying and analyzing 'only' risks whose impact are of consequence to a project's performance." —JOHN MILTON, PHD, PE Director of Enterprise Risk Management, Washington State Department of Transportation
Book Synopsis Project Management for Facility Constructions by : Alberto De Marco
Download or read book Project Management for Facility Constructions written by Alberto De Marco and published by Springer Science & Business Media. This book was released on 2011-03-23 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes concepts, methods and practical techniques for managing projects to develop constructed facilities in the fields of oil & gas, power, infrastructure, architecture and the commercial building industries. It is addressed to a broad range of professionals willing to improve their management skills and designed to help newcomers to the engineering and construction industry understand how to apply project management to field practice. Also, it makes project management disciplines accessible to experts in technical areas of engineering and construction. In education, this text is suitable for undergraduate and graduate classes in architecture, engineering and construction management, as well as for specialist and professional courses in project management.
Book Synopsis Advances in Engineering Structures, Mechanics & Construction by : M. Pandey
Download or read book Advances in Engineering Structures, Mechanics & Construction written by M. Pandey and published by Springer Science & Business Media. This book was released on 2007-02-10 with total page 873 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the proceedings of an International Conference on Advances in Engineering Structures, Mechanics & Construction, held in Waterloo, Ontario, Canada, May 14-17, 2006. The contents include contains the texts of all three plenary presentations and all seventy-three technical papers by more than 153 authors, presenting the latest advances in engineering structures, mechanics and construction research and practice.
