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Managing the Continuum: Certainty, Uncertainty, Unpredictability in Large Engineering Projects

  • Book
  • © 2013

Overview

Authors:
  1. Franco Caron

    1. , Management Economics and Industrial Engi, Politecnico di Milano, Milan, Italy

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  • Integrated view of subjects normally addressed separately i.e. project issues, project risks, unexpected events
  • Rigorously explains risk consideration in project planning, this capable to supplement existing textbooks
  • Quick reference book for practitioners

Part of the book series: SpringerBriefs in Applied Sciences and Technology (BRIEFSAPPLSCIENCES)

Part of the book sub series: PoliMI SpringerBriefs (BRIEFSPOLIMI)

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Table of contents (15 chapters)

  1. Front Matter

    Pages i-viii
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  2. Introduction

    • Franco Caron
    Pages 1-6

  3. Large Engineering Projects Strategy

    • Franco Caron
    Pages 7-10

  4. Large Engineering Projects: The Oil and Gas Case

    • Franco Caron
    Pages 11-14

  5. Project Management

    • Franco Caron
    Pages 15-17

  6. Improving the Forecasting Process in Project Control

    • Franco Caron
    Pages 19-27

  7. Robustness and Flexibility

    • Franco Caron
    Pages 29-33

  8. Project Risk Analysis and Management

    • Franco Caron
    Pages 35-36

  9. Real Options

    • Franco Caron
    Pages 37-39

  10. Stakeholders as Uncertainty Sources

    • Franco Caron
    Pages 41-45

  11. Project Organizational Model

    • Franco Caron
    Pages 47-50

  12. Introduction to Project Risk

    • Franco Caron
    Pages 51-56

  13. Project Risk Analysis

    • Franco Caron
    Pages 57-65

  14. Project Risk Management

    • Franco Caron
    Pages 67-74

  15. Quantitative Analysis of Project Risks

    • Franco Caron
    Pages 75-80

  16. Conclusions

    • Franco Caron
    Pages 81-85

  17. Back Matter

    Pages 87-88
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Keywords

About this book

The brief will describe how to develop a risk analysis applied to a project , through a sequence of steps: risk management planning, risk identification, risk classification, risk assessment, risk quantification, risk response planning, risk monitoring and control, process close out and lessons learning. The project risk analysis and management process will be applied to large engineering projects, in particular related to the oil and gas industry. The brief will address the overall range of possible events affecting the project moving from certainty (project issues) through uncertainty (project risks) to unpredictability (unforeseeable events), considering both negative and positive events. Some quantitative techniques (simulation, event tree, Bayesian inference, etc.) will be used to develop risk quantification. The brief addresses a typical subject in the area of project management, with reference to large engineering projects concerning the realization of large plants and infrastructures. These projects are characterized by a high level of change, uncertainty, complexity and ambiguity. The brief represents an extension of the material developed for the course Project Risk Analysis and Management of the Master in Strategic Project Management (Erasmus Mundus) developed jointly by Politecnico di Milano, Heriot Watt University (Edimburgh) and Umea (Sweden). The brief may be used both in courses addressing project management subjects and by practitioners as a guide for developing an effective project risk management plan.

Authors and Affiliations

  • , Management Economics and Industrial Engi, Politecnico di Milano, Milan, Italy

    Franco Caron

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