Risk analysis and management - an overview. When to apply risk management. Quantitative techniques for project risk analysis. Risk in estimating. Contract stategy...

Today’s businesses are driven by customer ‘pull’ and technological ‘push’. To remain competitive in this dynamic business world, engineering and construction organizations are constantly innovating with new technology tools and techniques to improve process performance in their projects. Their management challenge is to save time, reduce cost and increase quality and operational efficiency. Risk management has recently evolved as an effective method of managing both projects and operations. Risk is inherent in any project, as managers need to plan projects with minimal knowledge and information, but its management helps managers to become proactive rather than reactive. Hence, it not only increases the chance of project achievement, but also helps ensure better performance throughout its operations phase. Various qualitative and quantitative tools are researched extensively by academics and routinely deployed by practitioners for managing risk. These have tremendous potential for wider applications. Yet the current literature on both the theory and practice of risk management is widely scattered. Most of the books emphasize risk management theory but lack practical demonstrations and give little guidance on the application of those theories. This book showcases a number of effective applications of risk management tools and techniques across product and service life in a way useful for practitioners, graduate students and researchers. It also provides an in-depth understanding of the principles of risk management in engineering and construction.

This book provides a step-by-step guidance on how to implement analytical methods in project risk management. The text focuses on engineering design and construction projects and as such is suitable for graduate students in engineering, construction, or project management, as well as practitioners aiming to develop, improve, and/or simplify corporate project management processes. The book places emphasis on building data-driven models for additive-incremental risks, where data can be collected on project sites, assembled from queries of corporate databases, and/or generated using procedures for eliciting experts’ judgments. While the presented models are mathematically inspired, they are nothing beyond what an engineering graduate is expected to know: some algebra, a little calculus, a little statistics, and, especially, undergraduate-level understanding of the probability theory. The book is organized in three parts and fourteen chapters. In Part I the authors provide the general introduction to risk and uncertainty analysis applied to engineering construction projects. The basic formulations and the methods for risk assessment used during project planning phase are discussed in Part II, while in Part III the authors present the methods for monitoring and (re)assessment of risks during project execution.

There is currently an ongoing programme of UK harbour and marina development, encouraged by government investment. This book offers a detailed analysis of the risks involved in coastal engineering.

A close-to-ideal blend of suburb and city, speedy construction of towers of Babylon, the sparkling proportion of glass and steel buildings’ facade at night showcase the wisdom of humans. They also witness the footsteps, sweats and tears of architects and engineers. Unfortunately, these signatures of human civilizations are swathed in towering figures of construction accidents. Fretting about these on sites, different countries adopt different measures on sites. This book firstly sketches the construction accidents on sites, followed by a review on safety measures in some of the developing countries such as Bermuda, Egypt, Kuwait and China; as well as developed countries, for example, the United States, France and Singapore. It also highlights the enormous compensation costs with the courts’ experiences in the United Kingdom and Hong Kong.

Covers the entire process of risk management by providing methodologies for determining the sources of engineering project risk, and once threats have been identified, managing them through: identification and assessment (probability, relative importance, variables, risk breakdown structure, etc.); implementation of measures for their prevention, reduction or mitigation; evaluation of impacts and quantification of risks and establishment of control measures. It also considers sensitivity analysis to determine the influence of uncertain parameters values on different project results, such as completion time, total costs, etc. Case studies and examples across a wide spectrum of engineering projects discuss such diverse factors as: safety; environmental impacts; societal reactions; time and cost overruns; quality control; legal issues; financial considerations; and political risk, making this suitable for undergraduates and graduates in grasping the fundamentals of risk management.

This book provides a new, necessary and valuable approach to the consideration of risk in underground engineering projects constructed within rock masses. There are Chapters on uncertainty and risk, rock engineering systems, rock fractures and rock stress, the design of a repository for radioactive waste, plus two major case examples relating to th

Measurement in civil engineering and building is a core skill and the means by which an architectural or engineering design may be modelled financially, providing the framework to control and realise designs within defined cost parameters, to the satisfaction of the client. Measurement has a particular skill base, but it is elevated to an ‘art’ because the quantity surveyor is frequently called upon to interpret incomplete designs in order to determine the intentions of the designer so that contractors may be fully informed when compiling their tenders. Managing Measurement Risk in Building and Civil Engineering will help all those who use measurement in their work or deal with the output from the measurement process, to understand not only the ‘ins and outs’ of measuring construction work but also the relationship that measurement has with contracts, procurement, claims and post-contract control in construction. The book is for quantity surveyors, engineers and building surveyors but also for site engineers required to record and measure events on site with a view to establishing entitlement to variations, extras and contractual claims. The book focuses on the various practical uses of measurement in a day-to-day construction context and provides guidance on how to apply quantity surveying conventions in the many different circumstances encountered in practice. A strong emphasis is placed on measurement in a risk management context as opposed to simply ‘taking-off’ quantities. It also explains how to use the various standard methods of measurement in a practical working environment and links methods of measurement with conditions of contract, encompassing the contractual issues connected with a variety of procurement methodologies. At the same time, the many uses and applications of measurement are recognised in both a main contractor and subcontractor context. Measurement has moved into a new and exciting era of on-screen quantification and BIM models but this has changed nothing in terms of the basic principles underlying measurement: thoroughness, attention to detail, good organisation, making work auditable and, above all, understanding the way building and engineering projects are designed and built. This book will help to give you the confidence to both ‘measure’ and understand measurement risk issues by: presenting the subject of measurement in a modern context with a risk management emphasis recognising the interrelationship of measurement with contractual issues including identification of pre- and post-contract measurement risk issues emphasising the role of measurement in the entirety of the contracting process particularly considering measurement risk implications of both formal and informal tender documentation and common methods of procurement conveying the basic principles of measurement and putting them in an IT context incorporating detailed coverage of NRM1 and NRM2, CESMM4, Manual of Contract Documents for Highway Works and POM(I), including a comparison of NRM2 with SMM7 and a detailed analysis of changes from CESMM3 to CESMM4 discussing the measurement implications of major main and sub-contract conditions (JCT, NEC3, Infrastructure Conditions and FIDIC) providing detailed worked examples and explanations of computer-based measurement using a variety of industry-standard software packages

We are not free from environmental risks that accompany the development of human societies. Modern economic development has accelerated environmental pollution, caused loss of natural habitats, and modified landscapes. These environmental changes have impacted natural systems: water and heat circulation, nutrient cycling, and biodiversity. These changes in natural systems degrade ecosystem services and subsequently increase environmental risks for humans. Environmental risks, therefore, are not only human health risks by pollution, climatic anomalies and natural disasters, but also degradation of ecosystem services on which most people are relying for their lives. We cannot entirely eliminate the risks, because it is not possible to attain zero impact on the environment, but we need to find a mechanism that minimizes environmental risks for human sustainably. This is the idea of the interdisciplinary framework of “environmental risk management” theory, which advocates harmony between economic development and environmental conservation. Based on this theory, the Sustainable Living with Environmental Risk (SLER) programme, adopted by the Japanese Ministry of Education (MEXT) as one of its strategic programmes, has been training graduate students at the Yokohama National University, Japan, from 2009 to 2013 to become future environmental leaders who will take the initiative in reducing the level of environmental risks and in protecting natural resources in the developing nations of Asia and Africa. This book provides students and teachers of this new academic field with a comprehensive coverage of case studies of environmental risks and their practical management technologies not only in Japan but also in developing nations in Asia and Africa.