The construction industry is a major user of formal project risk management practices, yet risk is often dealt with inadequately, which is a contributory factor to poor performance. Conceptual developments propose a holistic view of risk incorporating threats and opportunities and the management...

Public-private partnership (PPP) road projects are highly leveraged capital-intensive projects. Lenders, which provide the major portion of financing in the form of debt instruments, undertake loan approval processes to examine the various aspects of the projects that could influence the debt...

An important requirement for simulating repetitive projects is to treat correlations inherent in the repetition of same crews working at various locations. To attain the requirement, this study develops a new Monte Carlo simulation model implementing a Gaussian copula in conjunction with the...

The emerging methodologies of 'soft operational research' have been developed for the purposes of structuring multi-perspective problems characterized by uncertainty, ambiguity and conflict. A participative research project is reported that sought to propagate the three most established 'soft'...

China is actively investigating ways to introduce project financing, specifically through the build-operate-transfer (BOT) scheme to meet the needs for the country's infrastructure and to be attractive to foreign investors and lenders. The advent of concession agreements, backed by new BOT laws,...

Risk management is fundamental to the success of a major project. However, the variations in using risk management practices are considerable and are dependent on numerous factors such as the industry sector, the size of the project, and the stage in the project life cycle. One of the major...

A safety planning and control model (SPC) has been integrated into the production planning and control process. The model integrates safety into three hierarchical levels of production control. Safety long-term planning starts with the preliminary hazard analysis (PHA) of construction processes....

A survey is described which examines the current risk handling practices in evaluating capital development projects (transmission, generation and distribution) within the electricity supply industry world-wide. As risk perception is an important aspect of risk management, the attitudes towards...

Risk allocation in public-private partnership (PPP) projects is currently claimed as capability driven. While lacking theoretical support, the claim is often 'violated' by current industrial practice. There is thus a need for formal mechanisms to interpret why a particular risk is retained by...

Cost estimation is an important task in construction projects. Since various risk-factors affect the construction costs, the actual costs generally deviate from the estimated costs in a favourable or an adverse direction. Therefore, not only estimation of the costs but also an analysis of the...