Modification of advanced programmatic risk analysis and management model for the whole project life cycle's risks

Zeynalian, M, Trigunarsyah, B and Ronagh, H 2013, 'Modification of advanced programmatic risk analysis and management model for the whole project life cycle's risks', Journal of Construction Engineering and Management, vol. 139, no. 1, pp. 51-59.


Document type: Journal Article
Collection: Journal Articles

Title Modification of advanced programmatic risk analysis and management model for the whole project life cycle's risks
Author(s) Zeynalian, M
Trigunarsyah, B
Ronagh, H
Year 2013
Journal name Journal of Construction Engineering and Management
Volume number 139
Issue number 1
Start page 51
End page 59
Total pages 9
Publisher American Society of Civil Engineers
Abstract The advanced programmatic risk analysis and management model (APRAM) is one of the recently developed methods that can be used for risk analysis and management purposes considering schedule, cost, and quality risks simultaneously. However, this model considers those failure risks that occur only over the design and construction phases of a project's life cycle. While it can be sufficient for some projects for which the required cost during the operating life is much less than the budget required over the construction period, it should be modified in relation to infrastructure projects because the associated costs during the operating life cycle are significant. In this paper, a modified APRAM is proposed, which can consider potential risks that might occur over the entire life cycle of the project, including technical and managerial failure risks. Therefore, the modified model can be used as an efficient decision-support tool for construction managers in the housing industry in which various alternatives might be technically available. The modified method is demonstrated by using a real building project, and this demonstration shows that it can be employed efficiently by construction managers. The Delphi method was applied in order to figure out the failure events and their associated probabilities. The results show that although the initial cost of a cold-formed steel structural system is higher than a conventional construction system, the former's failure cost is much lower than the latter's.
Subject Building Construction Management and Project Planning
Keyword(s) Construction management
Risk analysis
Risk management
DOI - identifier 10.1061/(ASCE)CO.1943-7862.0000571
Copyright notice © ASCE
ISSN 0733-9364
Versions
Version Filter Type
Citation counts: TR Web of Science Citation Count  Cited 19 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 0 times in Scopus Article
Altmetric details:
Access Statistics: 14 Abstract Views  -  Detailed Statistics
Created: Tue, 23 Oct 2018, 16:00:00 EST by Catalyst Administrator
© 2014 RMIT Research Repository • Powered by Fez SoftwareContact us