A systematic review of quantitative risk analysis in construction of megaprojects

Journal article


Ibrahim, M. and Khodeir, L. M. (2020). A systematic review of quantitative risk analysis in construction of megaprojects. Ain Shams Engineering Journal. 11 (1), pp. 1403-1410. https://doi.org/10.1016/j.asej.2020.02.006
AuthorsIbrahim, M. and Khodeir, L. M.
Abstract

Mega projects (MP) require efficient management of risks during their construction. Therefore, it is crucial to identify any possible deviations towards meeting their objectives. Such deviation forced MP to be delivered behind schedule and over budget. According references, MP does not require only qualitative analysis but requires an accurate quantitative analysis based on knowledge and practice. Thus, this paper aims to undergo a systematic review of quantitative analysis literature in construction of worldwide MP,with the utmost aim to improve contractors quantitative risk analysis practices in the presence of uncertainty. A time line was produced which shows the process of quantitative risk analysis in this literature including the past six years from 2013 to 2018. This was followed by a critical analysis in order to account for quantitative risk analysis techniques highlighted throughout literature sources. Furthermore, the paper reviews the literature of worldwide mega projects by which quantitative risk analysis process was practiced. It was observed that Monte Carlo analysis technique has succeeded in supporting project managers in allocating deviations in the objectives of MP. The paper adds value to practitioners using the process of quantitative risk analysis as well as contractors working on construction of MP.

KeywordsQuantitative risk analysis; Risk management; Monte Carlo analysis; Mega projects (MP)
Year2020
JournalAin Shams Engineering Journal
Journal citation11 (1), pp. 1403-1410
PublisherElsevier BV
ISSN2090-4479
Digital Object Identifier (DOI)https://doi.org/10.1016/j.asej.2020.02.006
Publication dates
Online12 Mar 2020
PrintDec 2020
Publication process dates
Accepted16 Feb 2020
Deposited01 Feb 2021
Publisher's version
License
File Access Level
Open
Permalink -

https://openresearch.lsbu.ac.uk/item/8vz09

Download files


Publisher's version
1-s2.0-S2090447920300381-main.pdf
License: CC BY-NC-ND 4.0
File access level: Open

  • 57
    total views
  • 88
    total downloads
  • 4
    views this month
  • 10
    downloads this month

Export as

Related outputs

A Conceptual Risk Management Framework in the Construction of Mega Housing Projects in Egypt
Ibrahim, M., Ofori, G., Morcos, M. and Egbu, C. (2020). A Conceptual Risk Management Framework in the Construction of Mega Housing Projects in Egypt. Urban Regeneration. University of East London - UK
Risk identification framework in the construction of Egyptian mega housing projects
Ibrahim, M., Ofori, G., Morcos, M. and Egbu, C. (2020). Risk identification framework in the construction of Egyptian mega housing projects. Ain Shams Engineering Journal. https://doi.org/10.1016/j.asej.2020.09.016
London Doctoral Academy Postgraduate Research Summer School 2020
Graham, A., Ibrahim, M., Lisson, M., Henfrey, C., Alfandari, N., Ojo, G., Baragau, I., Mansfield, M., Scheel, A., Bichard, E., Hamed Aboelkhair, H., Marjan, A., Hettiarachchi, S. J., Parvin, A., Merton, S., Ahmed-Landeryou, M., Jenkins, C., Alli, U., Atanda, O. and Ganiyu, S. (2020). London Doctoral Academy Postgraduate Research Summer School 2020. London South Bank University.
Risk Management in Construction of Megahousing Projects in Egypt
Ibrahim, M., Ofori, G. and Morcos, M. (2020). Risk Management in Construction of Megahousing Projects in Egypt. London Doctoral Academy Postgraduate Research Summer School 2020. Online 06 - 09 Jul 2020 London South Bank University.
A Systematic Review for The Implementation of Risk Management Within Construction of Mega Housing Projects
Ibrahim, M., Egbu, C. and Morcos, M. (2018). A Systematic Review for The Implementation of Risk Management Within Construction of Mega Housing Projects. 40th IABSE Symposium 2018: Tomorrow's Megastructures. Nantes, France 19 - 21 Sep 2018 The French Group of IABSE.