Download or read book Understanding and Managing Risks in Large Engineering Projects Classic Reprint written by Donald Lessard and published by Forgotten Books. This book was released on 2018-02-26 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Understanding and Managing Risks in Large Engineering Projects Large engineering projects are high-stakes games characterized by substantial irreversible commitments, skewed reward structures in case of success, and high probabilities of failure. Once built, projects have little use beyond the original intended purpose. Potential returns can be good but they are often truncated. The journey to the period of revenue generation takes 10 years on average. Substantial front - end expenditures prior to committing large capital costs have to be carried. During the ramp - up period, market estimates are tested and the true worth of the project appears; sponsors may find that it is much lower than expected. Bankers can discover that covenants will not be respected. Restructuring of ownership and debt may be the only way to save prior investments. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Download or read book Understanding and Managing Risks in Large Engineering Projects written by Donald R Lessard and published by Legare Street Press. This book was released on 2023-07-18 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the challenges of managing risk in large-scale engineering projects such as infrastructure development, aerospace systems, and defense programs. It provides a framework for identifying, assessing, and managing risks, and includes case studies and practical guidance for project managers and executives. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Download or read book Understanding and Managing Risks in Large Engineering Projects Primary Source Edition written by Donald R Lessard and published by Nabu Press. This book was released on 2014-02-21 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book.
Download or read book Managing the Continuum Certainty Uncertainty Unpredictability in Large Engineering Projects written by Franco Caron and published by Springer Science & Business Media. This book was released on 2013-05-24 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Risk Management for Engineering Projects written by Nolberto Munier and published by Springer Science & Business. This book was released on 2014-04-29 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: Covers the entire process of risk management by providing methodologies for determining the sources of engineering project risk, and once threats have been identified, managing them through: identification and assessment (probability, relative importance, variables, risk breakdown structure, etc.); implementation of measures for their prevention, reduction or mitigation; evaluation of impacts and quantification of risks and establishment of control measures. It also considers sensitivity analysis to determine the influence of uncertain parameters values on different project results, such as completion time, total costs, etc. Case studies and examples across a wide spectrum of engineering projects discuss such diverse factors as: safety; environmental impacts; societal reactions; time and cost overruns; quality control; legal issues; financial considerations; and political risk, making this suitable for undergraduates and graduates in grasping the fundamentals of risk management.
Download or read book Handbook of Research on Leveraging Risk and Uncertainties for Effective Project Management written by Raydugin, Yuri and published by IGI Global. This book was released on 2016-11-29 with total page 523 pages. Available in PDF, EPUB and Kindle. Book excerpt: The proper understanding and managing of project risks and uncertainties is crucial to any organization. It is of paramount importance at all phases of project development and execution to avoid poor project results from meager economics, overspending, reputation and environmental damage, and even loss of life. The Handbook of Research on Leveraging Risk and Uncertainties for Effective Project Management is a comprehensive reference source for emerging perspectives of managing risks associated with the execution and development of projects. Highlighting innovative coverage written by top industry specialists, such as complexity theory, psychological bias and risk management fallacies, probabilistic risk analysis, and various aspects of project decision making, this book is ideally designed for project and risk managers, project engineers, cost estimators, schedulers, safety and environmental protection specialists, corporate planners, financial and insurance specialists, corporate decision makers, as well as academics and lecturers working in the area of project management and students pursing PMP, PMI-RMP, ISO 31000, etc. certification.
Download or read book The Strategic Management of Large Engineering Projects written by Roger Miller and published by MIT Press. This book was released on 2001-03-12 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is based on an international research project that analyzed sixty LEPs, among them the Boston Harbor cleanup; the first phase of subway construction in Ankara, Turkey; a hydro dam on the Caroni River in Venezuela; and the construction of offshore oil platforms west of Flor, Norway. As the number, complexity, and scope of large engineering projects (LEPs) increase worldwide, the huge stakes may endanger the survival of corporations and threaten the stability of countries that approach these projects unprepared. According to the authors, the "front-end" engineering of institutional arrangements and strategic systems is a far greater determinant of an LEP's success than are the more tangible aspects of project engineering and management. The book is based on an international research project that analyzed sixty LEPs, among them the Boston Harbor cleanup; the first phase of subway construction in Ankara, Turkey; a hydro dam on the Caroni River in Venezuela; and the construction of offshore oil platforms west of Flor, Norway. The authors use the research results to develop an experience-based theoretical framework that will allow managers to understand and respond to the complexity and uncertainty inherent in all LEPs. In addition to managers and scholars of large-scale projects, the book will be of interest to those studying the relationship between institutions and strategy, risk management, and corporate governance in general. Contributors Bjorn Andersen, Richard Brealey, Ian Cooper, Serghei Floricel, Michel Habib, Brian Hobbs, Donald R. Lessard, Pascale Michaud, Roger Miller, Xavier Olleros
Download or read book Risk Management written by International Federation of Consulting Engineers. Risk Management Forum and published by . This book was released on 2004 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Management in Engineering and Construction written by Stephen Ogunlana and published by Routledge. This book was released on 2019-09-09 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today’s businesses are driven by customer ‘pull’ and technological ‘push’. To remain competitive in this dynamic business world, engineering and construction organizations are constantly innovating with new technology tools and techniques to improve process performance in their projects. Their management challenge is to save time, reduce cost and increase quality and operational efficiency. Risk management has recently evolved as an effective method of managing both projects and operations. Risk is inherent in any project, as managers need to plan projects with minimal knowledge and information, but its management helps managers to become proactive rather than reactive. Hence, it not only increases the chance of project achievement, but also helps ensure better performance throughout its operations phase. Various qualitative and quantitative tools are researched extensively by academics and routinely deployed by practitioners for managing risk. These have tremendous potential for wider applications. Yet the current literature on both the theory and practice of risk management is widely scattered. Most of the books emphasize risk management theory but lack practical demonstrations and give little guidance on the application of those theories. This book showcases a number of effective applications of risk management tools and techniques across product and service life in a way useful for practitioners, graduate students and researchers. It also provides an in-depth understanding of the principles of risk management in engineering and construction.
Download or read book Risk Management in Projects written by Martin Loosemore and published by Routledge. This book was released on 2012-09-10 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Project managers in construction and civil engineering need to base their decisions on realistic information about risk and public perceptions of risk. This second edition of the original practical and straightforward text retains the easy-to-read format, but has been expanded to encompass the entire risk management process and to give a fuller presentation of how risk is generally perceived. Two new chapters cover risk identification and risk response, and the chapters on risk analysis have been completely reorganized. There is also greater emphasis on the theory behind the principles, and an expanded bibliography is given to guide an exploration of the subject in greater detail. The book demystifies risk management by presenting the subject in simple and practical terms, free of technical jargon, and case studies are used extensively to enliven the text and to illustrate the concepts discussed.
Download or read book Managing Risks in Design Construction Projects written by Ronald Saporita and published by American Society of Mechanical Engineers. This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Project management is the art of applying the necessary, cost, scheduling, and other variance identification tools to safely achieve a quality product, on time and within budget. This volume provides an understanding of the risk-management "process," and an outline of the considerations to implement one. No particular type of contract isolates participants from risks. The author presents an evaluation of risks involved in various contract formats, i.e., lump sum, cost plus, etc., and delivery methods, Design/Build and Design/Bid/Build.
Download or read book Project Risk Management Guidelines written by Dale F Cooper and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Project Risk Management Guidelines written by Dale Cooper and published by Wiley. This book was released on 2004-11-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes philosophies, principles, practices and techniques for managing risk in projects and procurements, with a particular focus on complex or large-scale activities. The authors cover the basics of risk management in the context of project management, and outline a step-by-step approach. They then extend this approach into specialised areas of procurement (including tender evaluation, outsourcing and Public-Private Partnerships), introducing technical risk assessment tools and processes for environmental risk management. Finally they consider quantitative methods and the way they can be used in large projects. International case studies are included throughout.
Download or read book Managing the Risks of Organizational Accidents written by James Reason and published by Routledge. This book was released on 2016-01-29 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Major accidents are rare events due to the many barriers, safeguards and defences developed by modern technologies. But they continue to happen with saddening regularity and their human and financial consequences are all too often unacceptably catastrophic. One of the greatest challenges we face is to develop more effective ways of both understanding and limiting their occurrence. This lucid book presents a set of common principles to further our knowledge of the causes of major accidents in a wide variety of high-technology systems. It also describes tools and techniques for managing the risks of such organizational accidents that go beyond those currently available to system managers and safety professionals. James Reason deals comprehensively with the prevention of major accidents arising from human and organizational causes. He argues that the same general principles and management techniques are appropriate for many different domains. These include banks and insurance companies just as much as nuclear power plants, oil exploration and production companies, chemical process installations and air, sea and rail transport. Its unique combination of principles and practicalities make this seminal book essential reading for all whose daily business is to manage, audit and regulate hazardous technologies of all kinds. It is relevant to those concerned with understanding and controlling human and organizational factors and will also interest academic readers and those working in industrial and government agencies.
Download or read book MANAGING RISKS IN PROJECTS written by ARTTO and published by . This book was released on 2016-11-18 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Management for Large Engineering Projects in Developing Countries written by Babajide Olatunde Alabi and published by . This book was released on 2010 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Project Risk and Opportunity Management written by Agnar Johansen and published by Routledge. This book was released on 2019 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: Effective risk and opportunity management is key to the successful delivery of any major engineering and construction project. This book looks at how all those involved can manage risk and capitalise on the opportunities that uncertainty present. The authors of this book highlight that uncertainties should be managed rather than avoided. This book will look at simple projects with a small team, to megaprojects where some hundreds of people are involved, and the consequences of delays or unforeseen costs. However, while the obvious risks can be planned for, the authors argue that it is often the opportunities in these situations that can have unexploited potential. This book is about opportunity management seen from the owner's perspective. It will be an invaluable resource for those studying Engineering both undergraduate and postgraduate and set out ways in which projects should be managed from planning to completion. This book is also a great tool for those working in project management and the construction industry. While there are many books that demonstrate effective construction management, this book is the first of its kind to emphasise that there is opportunity in uncertainty, and possibility in the unexpected.
