An Integrated Cost-Time Approach to Risk Analysis for Construction Projects

Conference item

Howes, R, Fong, D and Little, B (1993). An Integrated Cost-Time Approach to Risk Analysis for Construction Projects. CIB W-65 Symposium 1993. St. Augustine, Trinidad and Tobago 15 - 22 Sep 1993
AuthorsHowes, R, Fong, D and Little, B
Abstract

This paper provides a framework for modelling and quantifying risks associated with time and cost emanating from construction projects. A methodology is proposed whereby time risk analysis and estimated cost risk analysis can be related thereby producing a time related cost risk analysis. By combining this development with a comprehensive scheduling system such as POEM, project risk can be managed in a structured way throughout the project life cycle.

KeywordsRisk Analysis; Risk Management; Project Management; Project Planning; Monte Carlo Simulation; PERT
Year1993
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Print15 Sep 1993
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Deposited22 Sep 2018
Accepted24 May 1993
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