A systematic review of quantitative risk analysis in construction of mega projects

Nabawy, Mohamed; Khodeir, Laila

doi:10.1016/j.asej.2020.02.006

Cited by 31 publications

(15 citation statements)

References 5 publications

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“…The use of project risk control practices are essential to the growth and sustainability of construction operations, as there is a positive, statistically significant relationship between risk reassessment and project success (Obondi, 2022). The quantitative method is the most efficient and widely used in risk analysis, as it detects deviations in the budget and schedule using Monte Carlo analysis (Nabawy, M., & Khodeir, 2020). However, qualitative risk analysis is an effective method when the study aims to prioritize the order of dealing with risks.…”

Section: Literature Reviewmentioning

confidence: 99%

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A risk management model for large projects in the construction phase in Egypt

Habib¹,

Eldawla²,

Zaki³

2023

10.5267/j.jpm

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The implementation of major projects is complicated by the multiplicity of beneficiaries, owners, and all participants in the project as well as the technical overlap between the various engineering, financial and administrative works, while the specific features of the construction activity have a clear influence in shaping the nature of construction projects because the implementation processes were associated with a deep and long-term intervention in the natural environment, where construction is a burden on the environment, both in the construction phase and during the maintenance and liquidation phases: it requires depreciation of a large number of material resources. Through that, this study focused on clarifying the most important concepts of risk management and modern strategies in risk analysis and how to respond to them and monitor projects. The study then presented a questionnaire for the risks facing major projects in Egypt. Through analyzing the results of the questionnaire, a qualitative risk analysis was conducted that can be used to prioritize response to risks, in addition to conducting a Monte Carlo simulation based on theoretical foundations and providing a new process for prioritizing project risks related to sustainability, where the (Primavera Risk Analysis) program was used to clarify the impact of risks on project time and cost. All analyses are based on the theoretical background regarding risk, risk management process, and project life cycle approach in the sustainable construction sector. with the help of this study, it is possible to address ways of mitigating the harmful effects on the environment through the implementation of sustainable management in the planning of future projects and better management of current projects.

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Section: Literature Reviewmentioning

confidence: 99%

“…This underlines the importance of sensitivity analysis and the Monte Carlo Method (MCM) as key tools for sustainable risk management. (Fregonara et al, 2019)…”

Section: Activating Environmental and Economic Sustainability In Risk...mentioning

confidence: 99%

A risk management model for large projects in the construction phase in Egypt

Habib¹,

Eldawla²,

Zaki³

2023

10.5267/j.jpm

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“…Taking the Hui village in Dongying Town, Daming County, as the research object, the current situation and problems of Hui architectural style in Daming County through field research and literature review have been sorted out [13]. Combined with relevant examples, the principles of Hui architectural renovation were summarized.…”

Section: Studies On Village Changementioning

confidence: 99%

A Village Reconstruction Model Using Particle Swarm Optimization Algorithm

Zhang

Chen

Sun

et al. 2022

Mobile Information Systems

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In bygone days, the way to deal with traditional villages in developing new cities in China was often to overturn them and replace the original environment with the built-up urban environment, causing constructive destruction to the traditions and cultures. According to the new village transformation requirements, the planning and construction of villages must be shaped with their own cultural and humanistic characteristics of the habitat requirements. It does not favor demolishing large constructions by implementing a different environment. A traditional village is an essential spatial framework to retain the “mark” of the local characteristics of the new city. It can be an essential element in shaping the individual characteristics of the village by realizing the diversity of spatial forms and regional cultural connotations of the new village. Therefore, this paper proposes a new village transformation model based on traditional villages’ social, economic, and spatial patterns, combined with a new particle swarm optimization (PSO) algorithm named multi-objective particle swarm optimization (MOPSO). The model transforms the village based on the required optimum resource allocation with the global solution. The experiment shows that the proposed model suits village renovation and modernization. The work is a step toward the advancements and betterment of rural development.

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“…Construction risk usually involves many factors, such as construction workers risk behavior [23], 4M1E [24], and management risk [25]. In terms of construction risk identification [26], analysis [27], evaluation [28], and risk control [29], scholars have carried out abundant research and found that construction risk factors have different dimensions, such as the dimension of participants, the dimension of construction control objectives, the dimension of engineering nature, the dimension of total factors, and the dimension of project management. No matter which dimension, it represents the concrete description of the project construction risk.…”

Section: Status Of Construction Riskmentioning

confidence: 99%

Risk Assessment of Urban Rail Transit PPP Project Construction Based on Bayesian Network

Liu

Jiao

et al. 2021

Sustainability

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In recent years, the accident rate of urban rail transit PPP (public–private partnerships) project under construction has been relatively high, and the issue of security risks has attracted great attention from all walks of life. Therefore, it is necessary to identify, analyze, and evaluate the issue of security risks of the urban rail transit PPP project. This paper takes the PPP project of urban rail transit as the object. Through offline interviews and surveys and online questionnaires, this paper focuses on identifying and analyzing the risks brought by the introduction of PPP mode to the urban rail transit project and its action mechanism. The risk evaluation method based on Bayesian network model is studied, which is described from three dimensions: risk occurrence probability, risk reasoning, and risk sensitivity. Finally, an example of Xuzhou Metro Line 3 is given to verify the feasibility of the proposed method. This study provides a reference basis for relevant practitioners and promotes the healthy development of the industry.

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A systematic review of quantitative risk analysis in construction of mega projects

Cited by 31 publications

References 5 publications

A risk management model for large projects in the construction phase in Egypt

A risk management model for large projects in the construction phase in Egypt

A Village Reconstruction Model Using Particle Swarm Optimization Algorithm

Risk Assessment of Urban Rail Transit PPP Project Construction Based on Bayesian Network

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