Construction Project Network Evaluation with Correlated Schedule Risk Analysis Model

Ökmen, Önder; Öztaş, Ahmet

doi:10.1061/(asce)0733-9364(2008)134:1(49)

Cited by 65 publications

(29 citation statements)

References 14 publications

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“…When coming to more complicated correlations, networks could also be adopted for analyzing the schedule risks [20]. Other hybrid risk analysis models involve the integrated risk management and proactive scheduling [21], project tracking [22], and schedule assessment and evaluation [23].…”

Section: Related Studiesmentioning

confidence: 99%

Managing Transportation Megaproject Schedule Risks Using Structural Equation Modelling: A Case Study of Shanghai Hongqiao Integrated Transport Hub in China

Peng

Liangfa

2016

MATEC Web Conf.

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Abstract. Tight schedules, multifunctional scopes, and colossal sizes usually characterize transportation megaprojects as challenging tasks for completion. In order to address these situations, a schedule risk management method was developed in this paper based on the structural equation model. In the proposed method, risk identification, evaluation and response were arranged as a sequence, and the expert elicitation technique was adopted in order to quantify the schedule risk status. To demonstrate the applicability of the proposed model, a megaproject case in China, the Shanghai Hongqiao Integrated Transport Hub (SHITH), was chosen. Information within the expanded risk register was collected including the probability and consequence of risk events, the complexity of risk responsible owners, the reaction time, and the time lasting for risk countermeasures. Final risk control results showed that the method could not only address the schedule risks correlations effectively, but also maintained the simplicity for construction management practices..

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Section: Related Studiesmentioning

confidence: 99%

Managing Transportation Megaproject Schedule Risks Using Structural Equation Modelling: A Case Study of Shanghai Hongqiao Integrated Transport Hub in China

Peng

Liangfa

2016

MATEC Web Conf.

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“…Such situations may occur before and during the execution of a work, deviating any kind of programming and budget. In this sense, Öztaş Ökmen [11], and Al-Assaf Hejji [1] among others, study, identify and categorize the different schedule risks.…”

Section: Proyects Programmingmentioning

confidence: 99%

“…For its application, industry experts information is required, information that was collected through live surveys made to four recognized construction firm project managers from the City of Cali. All the above based on the validity given by Öztaş & Ökmen [11] to this type of analysis.…”

Section: Risk Factorsmentioning

confidence: 99%

Schedule risk analysis in construction project using RFMEA and Bayesian networks: The Cali-Colombia case study

Micán

Carabalí

Pérez³

et al. 2013

2013 IEEE International Conference on Industrial Engineering and Engineering Management

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The projects in the construction sector are developed in complex and dynamic circumstances due to uncertainties and risks. The schedule risk is the probability that the project exceeds the initial programing, for which several methodologies are proposed; on the other hand very few of them have been used in countries where the economies are in development. This paper presents a case study of the construction industry in the city of Cali -Colombia, integrating the RMFEA prioritization method and the Bayesian Networks model for the schedule risk analysis in construction projects. It will be possible to identify the main own risks in this type of projects and the impact that they have in the probability of finishing the project on time.

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“…Nasir et al [9] devised a schedule risk model called as Evaluating Risk in Construction-Schedule Model (ERIC-S) that estimates the pessimistic and optimistic duration of activities. Ökmen and Öztas [10] proposed the Construction Schedule Risk Analysis Model (CSRAM) that evaluates schedule networks under uncertainty when duration of activities and risk factors are correlated. All these models evaluate either the time schedule risks, cost risks or both.…”

Section: Introductionmentioning

confidence: 99%

Risk Analysis Related to Cost and Schedule for a Bridge Construction Project

Choudhry¹

2019

Perspectives on Risk, Assessment and Management Paradigms

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The construction sector is subject to more risk than many other sectors. Managing risk is the hottest topic of discussion for engineers within the construction sector. It is difficult to imagine managing of projects without risk management in construction. Risk management is concerned with risk management planning, identification, analysis, responses, monitoring and controlling project risk. Risk analysis is an evaluative process that establishes the magnitude of risks on projects. This work is planned to identify and analyze risks in the construction of a bridge project. The data are collected through a survey approach by administering a questionnaire. Professionals involved in the construction of bridges identify the project risks. A case study is utilized to determine the impact of cost and schedule risks. The analysis is carried out using the Monte Carlo simulation. The findings of the Monte Carlo simulation are compared with the actual times and costs of the casestudy project. The results show the actual times and costs fell within the expected distribution of the simulation. The results indicate that risk analysis is helpful in managing costs and schedule risks. Additionally, this work documents guidelines for risk analysis.

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Construction Project Network Evaluation with Correlated Schedule Risk Analysis Model

Cited by 65 publications

References 14 publications

Managing Transportation Megaproject Schedule Risks Using Structural Equation Modelling: A Case Study of Shanghai Hongqiao Integrated Transport Hub in China

Managing Transportation Megaproject Schedule Risks Using Structural Equation Modelling: A Case Study of Shanghai Hongqiao Integrated Transport Hub in China

Schedule risk analysis in construction project using RFMEA and Bayesian networks: The Cali-Colombia case study

Risk Analysis Related to Cost and Schedule for a Bridge Construction Project

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