Overview
- Provides guidance on how data analytics methods are implemented in project risk management
- Integrates practitioners’ and managerial experience with the decision-theoretic framework
- Includes numerous worked out examples and practice problems
Part of the book series: Risk, Systems and Decisions (RSD)
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Table of contents (14 chapters)
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Front Matter
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Introduction
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Front Matter
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Risk Assessment in Project Planning
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Front Matter
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Risk Monitoring and Reassessment in Project Execution
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Front Matter
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Back Matter
Keywords
About this book
This book provides a step-by-step guidance on how to implement analytical methods in project risk management. The text focuses on engineering design and construction projects and as such is suitable for graduate students in engineering, construction, or project management, as well as practitioners aiming to develop, improve, and/or simplify corporate project management processes.
The book places emphasis on building data-driven models for additive-incremental risks, where data can be collected on project sites, assembled from queries of corporate databases, and/or generated using procedures for eliciting experts’ judgments. While the presented models are mathematically inspired, they are nothing beyond what an engineering graduate is expected to know: some algebra, a little calculus, a little statistics, and, especially, undergraduate-level understanding of the probability theory.
The book is organized in three parts and fourteen chapters. In Part I theauthors provide the general introduction to risk and uncertainty analysis applied to engineering construction projects. The basic formulations and the methods for risk assessment used during project planning phase are discussed in Part II, while in Part III the authors present the methods for monitoring and (re)assessment of risks during project execution.
Authors and Affiliations
About the authors
Kenneth F. Reinschmidt was a Professor Emeritus at Texas A&M University, a member of the National Academy of Engineering, and a fellow of the American Association for the Advancement of Science. During his long lasting career Dr Reinschmidt has held many positions in academia and industry including being a professor at the Massachusetts Institute of Technology, Senior Vice President of Stone & Webster, and the President and Chief Executive Officer of Stone & Webster Advanced Systems Development Services. He has pioneered many data-centred project management tools and methods including knowledge-based engineering analysis, computer-aided engineering design, and expert systems for manufacturing and production scheduling. Dr Reinschmidt served as a chairman or a member of many congressionally-mandated studies that investigated project management practices across different federal agencies. At Texas A&M University Dr. Reinschmidt used to teach project risk management and construction improvement methods.
Ivan D. Damnjanovic is an Associate Professor, J.L. “Corky” Frank/Marathon Ashland Petroleum LLC Faculty Fellow, and the Director of Engineering Project Management program at Texas A&M University. He is also the Founder of Riskopedia Analytics consultancy. Dr. Damnjanovic specializes in qualitative and quantitative methods for assessment and management of engineering and project risks. He has an extensive experience in risk and safety analysis applied to projects from different industry segments including transportation infrastructure, oil&gas, and technology development. Dr. Damnjanovic has been a lead investigator on more than 20 state and federally funded studies, and the author of more than 50 peer reviewed journal publications and reports. He has served as a member of a number of committees that looked into industry-wide applications of risk analysis. At Texas A&M University Dr. Damnjanovic teaches project risk management and project finance and has earned awards for his instruction.Bibliographic Information
Book Title: Data Analytics for Engineering and Construction Project Risk Management
Authors: Ivan Damnjanovic, Kenneth Reinschmidt
Series Title: Risk, Systems and Decisions
DOI: https://doi.org/10.1007/978-3-030-14251-3
Publisher: Springer Cham
eBook Packages: Engineering, Engineering (R0)
Copyright Information: Springer Nature Switzerland AG 2020
Hardcover ISBN: 978-3-030-14250-6Published: 04 June 2019
Softcover ISBN: 978-3-030-14253-7Published: 31 July 2020
eBook ISBN: 978-3-030-14251-3Published: 23 May 2019
Series ISSN: 2626-6717
Series E-ISSN: 2626-6725
Edition Number: 1
Number of Pages: XV, 379
Number of Illustrations: 4 b/w illustrations, 108 illustrations in colour
Topics: Construction Management, Quality Control, Reliability, Safety and Risk, Project Management