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A NEW METHODOLOGY FOR ADDRESSING CLIENT RISKS IN CONSTRUCTION PROJECTS |
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| รหัสดีโอไอ | |
| Title | A NEW METHODOLOGY FOR ADDRESSING CLIENT RISKS IN CONSTRUCTION PROJECTS |
| Creator | ABDULLAH ALBOGAMY, NASHWAN DAWOOD, and DARREN SCOTT |
| Publisher | ISEC Press |
| Publication Year | 2557 |
| Keyword | Risk analysis, Construction delay, Design stage, Risk management model, Analytical hierarchy process, Risk mitigation. |
| Abstract | Delay-risk factors associated with clients in a construction project have a major impact on a successful delivery on time and within budgeted cost. Risk management studies so far have not effectively managed project risk factors in a way that can assist clients in creating strategies to reduce impacts and risk. To address these issues, the study aims to provide a new methodology for analyzing and managing the risks by building a conceptual model. The study includes the development of a framework, named the client risk management model (CRMM), by integrating the findings from a literature review and a construction industry survey. A client risk analysis system was developed by integrating the analytical hierarchy process and a Monte Carlo simulation within an @Risk program. A case study demonstrated the methodology to analyze and quantify the impact of risk factors, and to create a suitable risk mitigation strategy at the design stage of a construction project. The system was found to be useful for quantifying the impact of client risks and the support in taking proactive decisions. |
| ISBN | 978-0-9960437-0-0 |
