Risk Management Practices In Construction

Author : Alex C. Arthur
Publisher : John Wiley & Sons
Page : 436 pages
File Size : 43,8 Mb
Release : 2021-12-13
Category : Technology & Engineering
ISBN : 9781119693000

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Construction Risk Management Decision Making by Alex C. Arthur Pdf

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.

Author : Ayodeji E. Oke,Pelumi E. Adetoro,Seyi S. Stephen,Clinton O. Aigbavboa,Lukman O. Oyewobi,Douglas O. Aghimien
Publisher : Springer Nature
Page : 184 pages
File Size : 53,8 Mb
Release : 2023-07-26
Category : Business & Economics
ISBN : 9783031355578

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Risk Management Practices in Construction by Ayodeji E. Oke,Pelumi E. Adetoro,Seyi S. Stephen,Clinton O. Aigbavboa,Lukman O. Oyewobi,Douglas O. Aghimien Pdf

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.

Author : Stephen Ogunlana,Prasanta Kumar Dey
Publisher : Routledge
Page : 709 pages
File Size : 44,9 Mb
Release : 2019-09-09
Category : Technology & Engineering
ISBN : 9781134019281

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Risk Management in Engineering and Construction by Stephen Ogunlana,Prasanta Kumar Dey Pdf

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.

Author : Alex C. Arthur
Publisher : John Wiley & Sons
Page : 436 pages
File Size : 51,9 Mb
Release : 2021-12-01
Category : Technology & Engineering
ISBN : 9781119693024

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Construction Risk Management Decision Making by Alex C. Arthur Pdf

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.

Author : Nigel J. Smith,Tony Merna,Paul Jobling
Publisher : John Wiley & Sons
Page : 263 pages
File Size : 45,6 Mb
Release : 2014-02-03
Category : Technology & Engineering
ISBN : 9781118347232

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Managing Risk in Construction Projects by Nigel J. Smith,Tony Merna,Paul Jobling Pdf

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.

Author : Ovidiu Cretu,Robert B. Stewart,Terry Berends
Publisher : John Wiley & Sons
Page : 288 pages
File Size : 46,6 Mb
Release : 2011-05-04
Category : Technology & Engineering
ISBN : 9781118028636

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Risk Management for Design and Construction by Ovidiu Cretu,Robert B. Stewart,Terry Berends Pdf

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

Author : Martin Loosemore,John Raftery,Charles Reilly,David Higgon
Publisher : Taylor & Francis
Page : 288 pages
File Size : 43,6 Mb
Release : 2012-09-10
Category : Architecture
ISBN : 9781134509225

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Risk Management in Projects by Martin Loosemore,John Raftery,Charles Reilly,David Higgon Pdf

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.

Author : Kriengsak Panuwatwanich,Chien-Ho Ko
Publisher : Springer Nature
Page : 663 pages
File Size : 42,8 Mb
Release : 2020-03-03
Category : Technology & Engineering
ISBN : 9789811519109

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The 10th International Conference on Engineering, Project, and Production Management by Kriengsak Panuwatwanich,Chien-Ho Ko Pdf

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.

Author : Ovidiu Cretu,Robert B. Stewart,Terry Berends
Publisher : John Wiley & Sons
Page : 288 pages
File Size : 48,9 Mb
Release : 2011-06-15
Category : Technology & Engineering
ISBN : 9780470635384

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Risk Management for Design and Construction by Ovidiu Cretu,Robert B. Stewart,Terry Berends Pdf

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

Author : Martin Loosemore
Publisher : Taylor & Francis
Page : 296 pages
File Size : 40,5 Mb
Release : 2006
Category : Architecture
ISBN : 0415260558

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Risk Management in Projects by Martin Loosemore Pdf

This expanded new edition covers the entire risk management process to give a full presentation of how risk is perceived by the public. It demystifies risk management, examining the subject in simple and practical terms, with no technical jargon.

Author : Roger Flanagan,George Norman
Publisher : Wiley-Blackwell
Page : 228 pages
File Size : 46,5 Mb
Release : 1993-08-20
Category : Technology & Engineering
ISBN : 0632028165

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Risk Management and Construction by Roger Flanagan,George Norman Pdf

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.

Author : M. Magdalena Ryor
Publisher : Unknown
Page : 0 pages
File Size : 54,5 Mb
Release : 2013
Category : Electronic
ISBN : OCLC:1402967869

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Utilization of risk management practices by construction project managers in the United States by M. Magdalena Ryor Pdf

Author : Xianbo Zhao,Bon-Gang Hwang,Sui Pheng Low
Publisher : Springer
Page : 319 pages
File Size : 44,6 Mb
Release : 2015-05-18
Category : Technology & Engineering
ISBN : 9789812875495

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Enterprise Risk Management in International Construction Operations by Xianbo Zhao,Bon-Gang Hwang,Sui Pheng Low Pdf

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.

Author : Ivan Damnjanovic,Kenneth Reinschmidt
Publisher : Springer
Page : 379 pages
File Size : 43,6 Mb
Release : 2019-05-23
Category : Technology & Engineering
ISBN : 9783030142513

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Data Analytics for Engineering and Construction Project Risk Management by Ivan Damnjanovic,Kenneth Reinschmidt Pdf

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.

Author : Peter Allan Thompson,John G. Perry
Publisher : Thomas Telford
Page : 86 pages
File Size : 41,5 Mb
Release : 1992
Category : Business & Economics
ISBN : 0727716654

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Engineering Construction Risks by Peter Allan Thompson,John G. Perry Pdf

Risk analysis and management - an overview. When to apply risk management. Quantitative techniques for project risk analysis. Risk in estimating. Contract stategy...