Acknowledgement
This work described in this paper was substantially supported by a grant from the Research Grants Council of the Hong Kong Special Administrative Region, China (Project No. PolyU 5049/02E).
International conference on construction engineering and project management (국제학술발표논문집)
- 2005.10a
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- Pages.929-934
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- 2005
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- 2508-9048(eISSN)
SIMPLIFIED SIMULATION APPROACH TO MANAGING SCHEDULE-OVERRUN RISKS IN CONSTRUCTION OPERATIONS
- Wah-Ho CHAN (Department of Civil and Structural Engineering, The Hong Kong Polytechnic University) ;
- Ming LU (Department of Civil and Structural Engineering, The Hong Kong Polytechnic University)
- Published : 2005.10.16
Abstract
The complex and dynamic job nature and the ever-changing working environment of construction projects inevitably present uncertainties to construction operations. Identification, evaluation and control of uncertainties constitute main elements of risk management and critical tasks of project management in construction. This paper is focused on application of a simplified discrete-event simulation approach in management of schedule-overrun risks, each being the combination of the occurrence probability of an uncertain interruptive factor and its potential consequence in terms of time delay. A case study observed from a concreting operation in Hong Kong is converted into a simulation model and analyzed with an in-house-developed simulation package for demonstrating how the proposed approach can be implemented to manage multiple schedule-overrun risks on construction projects.