Risk Management Practices In Construction
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Risk Management In Engineering And Construction
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Author : Stephen Ogunlana
language : en
Publisher: Routledge
Release Date : 2019-09-09
Risk Management In Engineering And Construction written by Stephen Ogunlana and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-09 with Technology & Engineering categories.
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.
Risk Management Practices In Construction
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Author : Ayodeji E. Oke
language : en
Publisher: Springer Nature
Release Date : 2023-07-26
Risk Management Practices In Construction written by Ayodeji E. Oke and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-07-26 with Business & Economics categories.
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.
Construction Risk Management Decision Making
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Author : Alex C. Arthur
language : en
Publisher: John Wiley & Sons
Release Date : 2021-12-13
Construction Risk Management Decision Making written by Alex C. Arthur and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-13 with Technology & Engineering categories.
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.
Managing Risk In Construction Projects
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Author : Nigel J. Smith
language : en
Publisher: John Wiley & Sons
Release Date : 2014-02-03
Managing Risk In Construction Projects written by Nigel J. Smith and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-03 with Technology & Engineering categories.
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.
Data Analytics For Engineering And Construction Project Risk Management
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Author : Ivan Damnjanovic
language : en
Publisher:
Release Date : 2020
Data Analytics For Engineering And Construction Project Risk Management written by Ivan Damnjanovic and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Engineering categories.
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.
Risk Management In Projects
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Author : Martin Loosemore
language : en
Publisher: Taylor & Francis
Release Date : 2012-09-10
Risk Management In Projects written by Martin Loosemore and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-09-10 with Architecture categories.
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.
Risk Management And Construction
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Author : Roger Flanagan
language : en
Publisher: Wiley-Blackwell
Release Date : 1993-08-20
Risk Management And Construction written by Roger Flanagan and has been published by Wiley-Blackwell this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-08-20 with Technology & Engineering categories.
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.
Risk Management In Construction
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Author :
language : en
Publisher: BoD – Books on Demand
Release Date : 2024-01-10
Risk Management In Construction written by and has been published by BoD – Books on Demand this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-10 with Technology & Engineering categories.
This book presents recent research on risk management in the construction industry. It consists of eight chapters, each of which contains valuable information on specified areas of risk management engineering. Topics addressed include identifying, analyzing, assessing, controlling, and monitoring risk for planning and construction stages; risk management methods used in the construction industry and case studies; risk management for buildings, dams, highways, railways, nuclear power plants, underground structures, energy facilities, and their appurtenant structures. This book provides a comprehensive overview of the latest information in risk management in the construction industry.
Managing Risk In Projects
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Author : Dr David Hillson
language : en
Publisher: Gower Publishing, Ltd.
Release Date : 2012-09-28
Managing Risk In Projects written by Dr David Hillson and has been published by Gower Publishing, Ltd. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-09-28 with Business & Economics categories.
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.