A computer model for assessing project risks and occurrence of failure costs

J. Avendano Castillo, Saad H.S. Al-Jibouri, Johannes I.M. Halman

    Research output: Chapter in Book/Report/Conference proceedingConference contributionAcademicpeer-review

    Abstract

    The construction industry is often criticised for failing to deliver its projects within the targeted budget and time. In many cases this is attributed to inefficient work and poor assessment of risks. Also literature has indicated that in the majority of the cases delays and unnecessary costs (here referred to as failure costs) are due to unattended risks and process related problems. The work in this paper describes the development of a proposed computer-based model for the assessment of process related risks and failure costs in construction projects. The paper also discusses preliminary results produced during the initial experimentations with the model. The proposed model is used as a basis to produce as many feasible construction alternatives as possible, based on given project constraints, to assess which of those produce less failure costs. In this case simulation is used to evaluate the performance of each alternative. Preliminary findings have shown that it is possible to use this model to indicate which construction method or alternative sequencing of activities produces a more favourable process. These findings have also shown that process related risks, as opposed to activity related risks, can form a major part of the project overall risks. The model has the potential to support decision making in construction by enabling the evaluation of many construction alternatives simultaneously.
    Original languageEnglish
    Title of host publicationProceedings of the 13th international conference on computing in civil and building engineering and the 17th international EG-ICE workshop on intelligent computing in engineering, 30 June - 2 July 2010, Nottingham, United Kingdom
    EditorsW. Tazini
    Place of PublicationNottingham, United Kingdom
    PublisherNottingham University Press
    Pages285-286
    ISBN (Print)978-1-907284-60-1
    Publication statusPublished - 30 Jun 2010
    Event13th International Conference on Computing in Civil and Building Engineering, ICCCBE 2010 - Nottingham, United Kingdom
    Duration: 30 Jun 20102 Jul 2010
    Conference number: 13

    Conference

    Conference13th International Conference on Computing in Civil and Building Engineering, ICCCBE 2010
    Abbreviated titleICCCBE
    CountryUnited Kingdom
    CityNottingham
    Period30/06/102/07/10

    Keywords

    • METIS-267692

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