scholarly journals Analysis and Evaluation of Project Cost Risk Based on BP Algorithm

2011 ◽  
Vol 1 ◽  
pp. 264-270 ◽  
Author(s):  
Binmei Zhu ◽  
Hao Zhang ◽  
Xujia Wang
Keyword(s):  
Bp Algorithm ◽  
Project Cost ◽  
Analysis And Evaluation ◽  
Cost Risk

Research on the System of the Construction Project Life Cycle Cost Risk Management

2011 ◽  
Vol 94-96 ◽  
pp. 2329-2332
Author(s):  
Hong Ping Wang ◽  
Yun Peng Hu
Keyword(s):  
Risk Management ◽  
Life Cycle ◽  
Life Cycle Cost ◽  
Cost Management ◽  
Risk Identification ◽  
Project Cost ◽  
Management Objectives ◽  
Project Life Cycle ◽  
Project Life ◽  
Cost Risk

Risk management is an important component of the project life cycle cost management and the project cost risk management system includes management objectives identification, risk factors analysis, risk identification, risk assessment, risk management and risk information feedback. The objectives of the project cost management can be successfully achieved through the life cycle cost risk management of various stages.

scholarly journals Design of Project Cost Risk Management System Based on Improved Fuzzy Rule Weight Algorithm

2021 ◽  
Vol 2021 ◽  
pp. 1-9
Author(s):  
Chen Huang ◽  
Yanfeng Zhu ◽  
Xiaoming Shao
Keyword(s):  
Risk Management ◽  
Management System ◽  
Functional Organization ◽  
Fuzzy Rule ◽  
Frame Structure ◽  
Risk Indicators ◽  
Project Cost ◽  
Risk Management System ◽  
Weight Calculation ◽  
Cost Risk

Aiming at the low accuracy of index weight calculation and risk type identification in traditional cost risk management systems, this paper proposes a project cost risk management system based on an improved fuzzy rule weight algorithm. We analyzed the types of project cost risks, adopted a three-tier technical architecture to design the system frame structure and functional organization structure of the cost risk management system, and adopted the B/S architecture for network structure deployment. In the software part, an improved fuzzy rule weight algorithm is used to calculate the weight of project cost risk indicators, thereby improving the effectiveness of risk management. Experimental results show that the designed system works well, can accurately calculate the weights of risk indicators, and can effectively identify multiple risk types.

Risk Based Estimate: Keep It Simple...

2010 ◽  
Author(s):  
Ovidiu Cretu ◽  
Vlad Cretu ◽  
Terry Berends ◽  
Robert Stewart
Keyword(s):  
Risk Analysis ◽  
Cost Estimate ◽  
New Method ◽  
Optimum Number ◽  
Project Cost ◽  
Schedule Risk ◽  
Schedule Risk Analysis ◽  
The Cost ◽  
The Impact ◽  
Cost Risk

The project cost and schedule estimate is a very subtle effort that needs to be repeated throughout the entire project’s life. The relatively new method of including risk events into the project cost estimate makes this effort more sensitive to subtleness. The authors have noticed during their work with other professionals that it is a tendency to make the processes of cost risk analysis (Risk Based Estimate (RBE)) more complicated than they should be. The authors call this tendency as “professional sophistication” when the RBE includes too many activities, too many uncertainties, and too many risk events. The “professional sophistication” usually is detrimental to the entire cost and schedule risk analysis and it constitutes a significant source of the analysis’ failure. The paper presents few cases when so called “professional sophistication” led to the initial analysis failure and if not caught in time to the project cost and schedule misrepresentation. The paper presents the reasons why the “Keep It Simple Smarty (KISS)” principle is critical for a robust and reliable cost and schedule risk analysis. The papers evaluate the impact of having too many variables included into RBE. It makes recommendation about the optimum number of variable that may be incorporated in the cost risk analysis. The ultimate recommendation is about being sure that the Risk Based Estimate includes only the uncertainties or risk events that may change significant the project cost or schedule.

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