Risk-management perspective on the project lifecycle

Ward, Stephen; Chapman, Chris

doi:10.1016/0263-7863(95)00008-e

Cited by 74 publications

(59 citation statements)

References 4 publications

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“…Merely evaluating risk and subsequently controlling it is not adequate [24]. Formal techniques of risk assessment are required to make certain that some kind of regularity and standardisation is achieved by corporate occupiers.…”

Section: The Need For Risk Assessment Methodsmentioning

confidence: 99%

Risk assessment methods for life cycle costing in buildings

2016

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Abstract. Purpose. There has been a growing consciousness of the significance of considering the costs of buildings and of developing financial methods to evaluate the life cycle costs (LCC) of buildings in use. Before any decision to invest capital in a building project or existing infrastructure is taken, it is essential that all corporate occupants and stakeholders in the policymaking practice are fully aware of the risks that are inherent as any LCC estimate will always involve a degree of risk exposure. Design/methodology/approach. Questionnaire survey to 120 construction professionals was used to gauge the current level of awareness, usage and advocated benefits of risk assessment methods in LCC. The questionnaire comprised three main sections each exploring different parts of the research question. Findings. The key findings of the statistical analysis indicated that there is a low awareness and usage of risk assessment methods and four factors were the most advocated benefits of its application to corporate occupiers and decision makers. This study fills the gap in the existing knowledge by addressing concerns over risk assessment to improve the confidence in LCC. Research limitations/implications. Although the data used in this paper was from professionally qualified members of either the Royal Institution of Chartered Surveyors (RICS), the Chartered Institute of Building (CIOB) and the British Institute for Facilities Management (BIFM), the research is limited in some ways in that it does not cover all the professionals in the construction industry. Nevertheless, all the professionals who responded to the questionnaire have up-to-date level of awareness of risk assessment methods in life cycle costing. Practical implications. As a result of growing awareness of whole life costing among corporate occupants and facilities managers in contemporary building projects, precise assessment of cost is a challenging undertaking as it consists of some measure of risk with regards to the running and maintenance costs during the entire life of the buildings. Thus, the existence of considerable improbability and doubt regarding cost and time evidence of an LCC study would have mind blowing implications on final results and consequently have minute bearing on subsequent decisions made by corporate occupiers. Social implications. Value for money for construction products and its facilities should not be viewed only in terms of costs to design and construction. Rather, it is vital for corporate occupants and society in general to consider other key variables such as operations, maintenance, renovation, replacement, and end of life costs. Originality/value. This paper contributes with new outlooks aimed at assessing the current level of awareness, usage and advocated benefits of risk assessment methods in LCC and adds to the limited empirical studies on risk assessment to corporate occupants and decision makers.

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Section: The Need For Risk Assessment Methodsmentioning

confidence: 99%

Risk assessment methods for life cycle costing in buildings

2016

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“…A project's output is delivered via the execution of project management processes (Burke 2011:40-41;Project Management Institute 2013). The systematic structure of these processes constitutes the project lifecycle (Pinto & Winch 2016;Ward & Chapman 1995;Wideman 1989). Although literature is consistent regarding processes within a project lifecycle, the sources identified in Table 1 continuously direct to project management standards and methodologies and their perspectives regarding the project management process (Pinto & Winch 2016;Varajão et al 2017;Wideman 1989).…”

Section: Project Lifecyclementioning

confidence: 99%

Conceptualising a multidimensional model of information communication and technology project complexity

Joseph

2017

S. Afr. j. inf. manag.

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Background: Information communication and technology (ICT) projects are different from other projects, such as construction, and require a new perspective to determine their true nature. The lacklustre state of ICT projects has plagued researchers and practitioners for decades as they are yet to understand why ICT projects do not perform. Literature places significant emphasis on success criteria and success factors for determining project success, but this is a unilateral view as the level of complexity involved is underestimated. ICT projects, however, are multifaceted as there are a number of dimensions that influence the management and outcome of a project.Objectives: This article aimed to illuminate how the dimensions are interdependent and interconnected through the construction of a conceptual model of ICT project complexity.Methods: Content analysis was used to identify and understand the various dimensions and facilitated construction of the model.Results: The article identified five dimensions that affect ICT projects, viz. project success, project lifecycle, project complexity, project types and project methods. Each dimension was analysed to understand the key constructs and elements that need to be considered. The dimensions were mapped in a multidimensional model.Conclusion: The multidimensional model of ICT project complexity can be used by ICT project managers to more effectively manage projects as they are provided with a greater understanding of ICT project influences.

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“…Ще одна модель була розроблена в [15], де визна-чено 4 фази: створення концепції, планування, вико-нання та завершення. Ці ж автори в іншій публікації запропонували подальший поділ кожної з чотирьох фаз на додаткову кількість етапів і кроків.…”

Section: аналіз останніх досліджень і публікаційunclassified

Process model of formation of the project charter for plasma-chemical elements creation for prospective energy systems

Burunsuz¹

2017

Collection of Scientific Publications NUS

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Admiral Makarov National University of Shipbuilding, MykolaivНаціональний університет кораблебудування імені адмірала Макарова, м. Миколаїв Abstract. The main objectives of using the process model of formation of the project charter for plasma-chemical elements (PCE) creation have been determined. Various models of the project life cycle are considered. The process model of formation of the project charter for PCE creation is developed. The input and output parameters of the project charter for PCE creation are given. It is proposed to use five groups criteria for selecting international innovative and investment projects. The key indicators of strategic, economic and financial, environmental, functional and technological and other criteria are discussed. The necessity of scientific research for formation of the project alternatives is justified. The components of the operating part of the process model of formation of the project charter are analyzed. The output parameters of production planning and production logistics processes are identified. The main limitations to successful completion of the project are given. Keywords: plasma-chemical elements (PCE); project charter; process model; project alternatives; business-case.Анотація. Визначено основні задачі використання процесної моделі формування Статуту проекту зі ство-рення плазмохімічних елементів (ПХЕ). Розглянуто різні моделі життєвого циклу проектів. Розроблено про-цесну модель формування Статуту проекту створення плазмохімічних елементів. Наведено вхідні та вихідні параметри Статуту проекту зі створення ПХЕ. Запропоновано використовувати п'ять груп критеріїв відбору міжнародних інноваційно-інвестиційних проектів. Розглянуто основні показники стратегічних, фінансово-економічних, екологічних, функціонально-технологічних та інших критеріїв. Обґрунтовано необхідність про-ведення науково-дослідних робіт для формування альтернатив проектів. Проаналізовано складові операційної частини процесної моделі формування Статуту проекту. Ідентифіковано вихідні параметри процесів вироб-ничого планування і виробничої логістики. Наведено основні обмеження для успішного завершення проекту. Розроблено узагальнену і детальну процесні моделі формування Статуту проекту створення ПХЕ. Досліджено складові компоненти процесної моделі формування Статуту проекту ПХЕ. Ключові слова: плазмохімічні елементи; статут проекту; процесна модель; альтернативи проекту; бізнес-кейс.Аннотация. Разработаны обобщенная и детальная процессные модели формирования Устава проекта созда-ния плазмохимических элементов (ПХЭ). Исследованы составляющие компоненты процессной модели фор-мирования Устава проекта ПХЕ. Ключевые слова: плазмохимические элементы; устав проекта; процессная модель; альтернативы проекта; бизнес-кейс. REFERENCES

show abstract

Risk-management perspective on the project lifecycle

Cited by 74 publications

References 4 publications

Risk assessment methods for life cycle costing in buildings

Risk assessment methods for life cycle costing in buildings

Conceptualising a multidimensional model of information communication and technology project complexity

Process model of formation of the project charter for plasma-chemical elements creation for prospective energy systems

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