Risk management in engineering projects: an owner-operator's view

1999 ◽  
Author(s):  
S. Weighell
Keyword(s):  
Risk Management ◽  
Engineering Projects

Risk management in the design of engineering projects as sociotechnical systems

2016 ◽  
Vol 4 (1-2) ◽  
pp. 85-99
Author(s):  
Bryan R. Moser ◽  
Ralph T. Wood ◽  
Kazuo Hiekata
Keyword(s):  
Risk Management ◽  
Sociotechnical Systems ◽  
Engineering Projects

Project review — do you really know where you are?

1994 ◽  
Vol 98 (973) ◽  
pp. 91-96 ◽  
Author(s):  
L. R. Balthazor
Keyword(s):  
Risk Management ◽  
Trend Analysis ◽  
High Technology ◽  
Project Manager ◽  
Rapid Response ◽  
Earned Value ◽  
Systems Perspective ◽  
The Right ◽  
Project Objectives ◽  
Engineering Projects

Abstract Project reviews are carried out to enable the right decisions to be taken to achieve project objectives. However, these decisions are often taken on incomplete, optimistic, inaccurate, misleading or simply wrong information. Whilst incompleteness is inevitable with the complex and rapidly changing nature of high technology engineering projects, it is important that the project manager has a good appreciation of the extent to which these other factors may affect the progress information upon which judgements are made. This paper explores a few of the traps the author has come across, and suggests possible approaches to avoid some of them. A systems perspective is recommended, with a focus on risk management, resolving ambiguity, rapid response, trend analysis, earned value principles and taking account of the effects of organisational changes.

scholarly journals Principles of structured risk management in rock engineering

2020 ◽  
Vol 53 (4) ◽  
pp. 329-341
Author(s):  
Johan Spross
Keyword(s):  
Risk Management ◽  
Practical Implementation ◽  
Observational Method ◽  
High Quality ◽  
Engineering Structures ◽  
Rock Engineering ◽  
Ground Conditions ◽  
Iso 31000 ◽  
Main Message ◽  
Engineering Projects

This article, based on a keynote lecture given at the Finnish Rock Mechanics Day 2019, discusses how structured risk management can be implemented to rock engineering projects. The suggested procedure is based on ISO 31000 and a recently published methodology for practical implementation of the standard to geotechnical engineering projects. The main message is that structured risk management is a key tool to achieve high-quality rock engineering structures. A key component for many projects will be the use of the observational method to cost-effectively reduce the lack of knowledge of the ground conditions during construction of the facility.

scholarly journals The Survival Spectrum: The Key to Transition Engineering of Complex Systems

2011 ◽  
Author(s):  
Susan Krumdieck
Keyword(s):  
Risk Management ◽  
Time Scale ◽  
Fossil Fuel ◽  
Complex Relationship ◽  
Safety Engineering ◽  
The Past ◽  
Time Space ◽  
Engineering Projects ◽  
Field Transition ◽  
Social And Environmental Impacts

This paper puts forward a simple idea describing the time, space and relationship scales of survival. The proposed survival spectrum concept represents a new way to think about sustainability that has clear implications for influencing engineering projects in all fields. The argument for the survival spectrum is developed sequentially, building on theory, definition, examples and history. The key idea is that sustainability can be effectively addressed by emergence of a new field, Transition Engineering. This is a parallel of safety engineering but with longer time scale, broader space scale, and more complex relationship scale. The past 100-year development of safety engineering is examined as a model for development of sustainability risk management and mitigation. The conclusion is that the new field, Transition Engineering, will emerge as the way our society will realize reduction in fossil fuel use and reduction in the detrimental social and environmental impacts of industrialization.

scholarly journals RISK MANAGEMENT IMPROVEMENT OF ENGINEERING PROJECTS IN WOODWORKING INDUSTRY / MEDŽIO APDIRBIMO PRAMONĖS ŠAKOJE VYKDOMŲ INŽINERINIŲ PROJEKTŲ RIZIKOS VALDYMO TOBULINIMAS

2013 ◽  
Vol 5 (6) ◽  
pp. 605-608
Author(s):  
Simona Bartkutė ◽  
Eligijus Toločka
Keyword(s):  
Risk Management ◽  
Design Process ◽  
Complex Phenomenon ◽  
Time Increase ◽  
Social Dimensions ◽  
Reduce Risk ◽  
Project Coordination ◽  
Technical Solutions ◽  
Engineering Projects ◽  
Management Improvement

Risk is a complex phenomenon that has physical, monetary, cultural and social dimensions. Every company wants to save money, time, increase quality, optimise manufacturing, but each factor may involve different risks with different influence to company, its reputation. The aim of the research is to find better risk management improvement decisions, using techniques that could help to reduce risk impact in wood-based nonstandard production with shorter project time, smoother design process, lower costs, better project coordination, increased ability to manage problems, technical solutions. Santrauka Rizika – tai reiškinys, turintis fizinių, finansinių, kultūrinių irsocialinių aspektų. Kiekviena įmonė nori sutaupyti laiko, pinigų,gerinti produkcijos kokybę, optimizuoti gamybą, tačiau kiekvienasveiksnys gali būti susijęs su įvairiomis rizikomis, skirtingaiveikti įmonės veiklą ir jos reputaciją. Šio tyrimo tikslas – rastitinkamesnius rizikos valdymo tobulinimo sprendimus, naudojantmetodus, padedančius sumažinti rizikos poveikį nestandartiniųmedienos gaminių pramonėje, esant trumpesniam projekto laikotarpiui,sklandesniam projektavimo procesui, mažesnėmsišlaidoms, tobulinant projektų koordinavimą, rizikų valdymą irtechninius sprendimus.

Study on the Risk Management Framework of International EPC Cement Engineering Project

2012 ◽  
Vol 446-449 ◽  
pp. 3842-3851 ◽  
Author(s):  
Yi Bin Wang ◽  
Hai Jun Lou
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Risk Identification ◽  
Assessment Model ◽  
Monitoring And Control ◽  
Project Schedule ◽  
Total Risk ◽  
Engineering Project ◽  
Building Engineering ◽  
Engineering Projects

In view of of the numerous risk events negatively affecting the project schedule, expenses, performances and other expected projectresults in China’s practice in the international EPC cement engineering projects, and their respective causes，this paper conducts a systematic study of the key risk factors existing in construction environment, market operations, and implementation process of projects and proposes the Enginerring Risk Management Information System (ERMIS) of the international EPC engineering projects, together with its construction model, basic procedures, practical functions and applications, and in particular, the risk database to collect and process information about major risk factors, risk events and countermeasure in the cement engineering projects while the expert system will utilize the Risk Database, Integrated Assessment Software and expert intelligence to collect and process dynamic data related to the risk identification, assessment, decision-making and monitoring and control of an intended building engineering projects. The risk assessment model set up in this paper is to consider the implementation of the software in ERMIS to adopt the upgraded AHP-MFCE technology to solve problems related to the total risk evaluation in the engineering project based on multi-empowerment.

The Risk Management Method for Project Schedule of Aerospace Engineering

2013 ◽  
Vol 712-715 ◽  
pp. 3165-3168
Author(s):  
Chao Hui Wang ◽  
Jun Lu
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Aerospace Engineering ◽  
Project Schedule ◽  
Construction Period ◽  
Management Method ◽  
Construction Schedule ◽  
Engineering Projects ◽  
Risk Assessment And Analysis ◽  
Huge Investment

Aerospace engineering projects usually require a huge investment and a long construction period. For this reason, a risk management method is proposed for the project schedule of aerospace engineering. In total, it is necessary to make a risk assessment and analysis on construction schedule before project implementation.

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