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Albert, A, Hallowell, M R, Kleiner, B, Chen, A and Golparvar-Fard, M (2014) Enhancing Construction Hazard Recognition with High-Fidelity Augmented Virtuality. Journal of Construction Engineering and Management, 140(07).

Azambuja, M M, Ponticelli, S and O’Brien, W J (2014) Strategic procurement practices for the industrial supply chain. Journal of Construction Engineering and Management, 140(07), 06014005.

Choudhry, R M, Aslam, M A, Hinze, J W and Arain, F M (2014) Cost and Schedule Risk Analysis of Bridge Construction in Pakistan: Establishing Risk Guidelines. Journal of Construction Engineering and Management, 140(07).

  • Type: Journal Article
  • Keywords: Bridges; Construction costs; Risk management; Scheduling; Monte Carlo method; Simulation; Pakistan; Bridge construction; Cost risk; Schedule risk; Risk analysis; Risk management; Monte Carlo simulation; Risk guidelines; Cost and schedule;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0000857
  • Abstract:
    The construction process is inherently prone to risks. Risk management is an essential and integral part of project management on virtually all construction projects. Risk analysis is one of the core components of risk management that enables professionals to quantify and analyze risks that may pose potential threats to project performance in terms of cost, quality, safety, and time. This research was conducted to identify and analyze risks associated with bridge construction in Pakistan. A questionnaire was conducted to collect data. Risks affecting bridge construction project performance were identified through interviews conducted with engineers and managers involved with various bridge projects. Cost and schedule impacts of project risks were supplemented by conducting a case study using the Monte Carlo simulation. The key findings indicate that financial risks were a major factor that affected cost and schedule objectives. The highest ranked factor identified was unavailability of funds with a relative importance index greater than 85. The results of the Monte Carlo simulation were compared to the actual completion times and costs of activities in the case study. In all cases of this comparison, the actual completion date and costs fell within the predicted distribution of the Monte Carlo simulation, indicating that risk analysis can help project managers to manage cost and schedule risks. Additionally, this study provided risk analysis guidelines, which were unclear. The results of this paper can help engineers, cost control managers, and project managers evaluate particular risks on their projects and avoid delays and cost overruns.

Doloi, H (2014) Rationalizing the Implementation of Web-Based Project Management Systems in Construction Projects Using PLS-SEM. Journal of Construction Engineering and Management, 140(07).

Edwards, D J and Holt, G D (2014) Antecedents of Health and Safety Issues Relating to Plant Trailer Wheels. Journal of Construction Engineering and Management, 140(07).

Jin, R, Han, S, Hyun, C and Kim, J (2014) Improving Accuracy of Early Stage Cost Estimation by Revising Categorical Variables in a Case-Based Reasoning Model. Journal of Construction Engineering and Management, 140(07).

Kim, B and Kim, H (2014) Sensitivity of Earned Value Schedule Forecasting to S-Curve Patterns. Journal of Construction Engineering and Management, 140(07).

Nguyen, L D, Nguyen, T K N, Tran, D Q and Villiers, C (2014) Productivity in Daytime and Nighttime Construction of Urban Sewer Systems. Journal of Construction Engineering and Management, 140(07).

Sing, C P, Love, P E D, Fung, I W H and Edwards, D J (2014) Personality and Occupational Accidents: Bar Benders in Guangdong Province, Shenzhen, China. Journal of Construction Engineering and Management, 140(07).

Su, X and Cai, H (2014) Life Cycle Approach to Construction Workspace Modeling and Planning. Journal of Construction Engineering and Management, 140(07).

Tang, Y, Liu, R and Sun, Q (2014) Two-Stage Scheduling Model for Resource Leveling of Linear Projects. Journal of Construction Engineering and Management, 140(07).