Managing Risk in Construction Projects 2e / Edition 2

Managing Risk in Construction Projects 2e / Edition 2

by Nigel J. Smith BSc, MSc, CEng, FICE, MAPM, Tony Merna, Paul Jobling
     
 

ISBN-10: 1405130121

ISBN-13: 9781405130127

Pub. Date: 12/15/2005

Publisher: Wiley

Written by a group of academics and practitioners, this guide is for construction practitioners having to manage real projects. It shows how the risk management process improves decision making in conditions of uncertainty.

This new edition includes the input of the Turnbull report, as well as to introduce the concept of corporate, strategic business, and project

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Overview

Written by a group of academics and practitioners, this guide is for construction practitioners having to manage real projects. It shows how the risk management process improves decision making in conditions of uncertainty.

This new edition includes the input of the Turnbull report, as well as to introduce the concept of corporate, strategic business, and project level risk.

The authors cover:

* a description of risk management and decision making in the context of a construction project

* the human dimension

* tools and techniques available to the risk analyst

* the problems of procurement and finance

* the practical application of risk analysis, including the principles of risk modelling and simulation, together wit case studies.

A thorough understanding of these concepts will provide the project manager with the basis for effective decision making.

From the reviews of the first edition:

'This book should be compulsory reading for all concerned with the management of risk in construction - whether academics or practitioners.'

Chartered Surveyor Monthly

'A valuable addition to the literature ... which helps condense, simplify and provide practical advice on how to implement risk management on construction projects.'

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Product Details

ISBN-13:
9781405130127
Publisher:
Wiley
Publication date:
12/15/2005
Edition description:
REV
Pages:
256
Product dimensions:
6.89(w) x 9.72(h) x 0.53(d)

Table of Contents

1. PROJECTS AND RISK.

1.1 Engineering Projects.

1.2 Decision Making.

1.3 Risk Management Strategy.

1.4 Project Planning.

1.5 Summary.

2. THE PROJECT ENVIRONMENT.

2.1 Projects.

2.2 The Project Constitution.

2.3 Project Organisation.

2.4 Project Phases.

2.5 Effects of Project Phase on Risk.

2.6 Project Appraisal.

2.7 Summary.

3. UNDERSTANDING THE HUMAN ASPECTS.

3.1 Risk Management – People.

3.2 Risk Management – Organisations.

3.3 The Risk Management Process.

3.4 Some Guidelines to the Risk Management Process.

3.5 Preparing a Group for a Risk Session – Risk Identification.

3.6 Communication.

3.7 Summary.

4. RISK AND VALUE MANAGEMENT.

4.1 Introduction.

4.2 The Standard Risk Management Model.

4.3 Apply Risk and Value Management.

4.4 Value Management Processes.

4.5 Understanding the Project Risk.

4.6 Applying Value and Risk Management.

4.7 Iteration of the Process.

4.8 Summary.

5. QUALITATIVE METHODS AND SOFT SYSTEMS METHODOLOGY.

5.1 Qualitative Risk Assessment.

5.2 Review of Project Programmes and Budgets.

5.3 The Risk Log.

5.4 Using a Risk Log to Formulate Risk Management Strategy.

5.5 Qualitative Methodologies.

5.6 Soft Systems Methodology.

5.7 Case Study.

5.8 Summary.

6. QUANTITATIVE METHODS FOR RISK MANAGEMENT.

6.1 Sanction.

6.2 Project Appraisal and Selection.

6.3 Project Evaluation.

6.4 Engineering Risks.

6.5 Risk Management.

6.6 Probabilistic Analysis.

6.7 Response to Risks.

6.8 Successful Risk Management.

Annex.

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