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Risk Management Treatise for Engineering Practitioners

Author: Chike F Oduoza

Publisher: BoD – Books on Demand

Published: 2019-04-23

Total Pages: 205

ISBN-13: 1789846005

This book "Risk Management Treatise for Engineering Practitioners" has been published by academic researchers and experts on risk management concepts mainly in the construction engineering sector. It addresses basic theories and principles of risk management backed up, in most cases, with case studies. The contributions for this book came from authors in Europe, the Far East and Africa, and it is hoped that the contents of this book will be useful to anyone interested in understanding the principles and applications of risk management, especially within the construction engineering sector. Researchers and postgraduate students in science and engineering disciplines, especially those interested in project management, will find this book useful.

Risk Management Treatise for Engineering Practitioners

Author: Chike F Oduoza

Publisher:

Published: 2018

Total Pages: 204

ISBN-13: 9781789846010

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This book ""Risk Management Treatise for Engineering Practitioners"" has been published by academic researchers and experts on risk management concepts mainly in the construction engineering sector. It addresses basic theories and principles of risk management backed up, in most cases, with case studies. The contributions for this book came from authors in Europe, the Far East and Africa, and it is hoped that the contents of this book will be useful to anyone interested in understanding the principles and applications of risk management, especially within the construction engineering sector. Researchers and postgraduate students in science and engineering disciplines, especially those interested in project management, will find this book useful.

Risk Management in Engineering and Construction

Author: Stephen Ogunlana

Publisher: Routledge

Published: 2019-09-09

Total Pages: 709

ISBN-13: 1134019289

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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.

Managing Risk in Construction Projects

Author: Nigel J. Smith

Publisher: John Wiley & Sons

Published: 2014-02-03

Total Pages: 263

ISBN-13: 1118347234

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Investment in any new project invariably carries risk but the construction industry is subject to more risk and uncertainty than perhaps any other industry. This guide for construction managers, project managers and quantity surveyors as well as for students shows how the risk management process improves decision-making. Managing Risk in Construction Projects offers practical guidance on identifying, assessing and managing risk and provides a sound basis for effective decision-making in conditions of uncertainty. The book focuses on theoretical aspects of risk management but also clarifies procedures for undertaking and utilising decisions. This blend of theory and practice is the real message of the book and, with a strong authorship team of practitioners and leading academics, the book provides an authoritative guide for practitioners having to manage real projects. It discusses a number of general concepts, including projects, project phases, and risk attitude before introducing various risk management techniques. This third edition has been extended to recognize the reality of multi-project or programme management and the risks in this context; to highlight the particular problems of risk in international joint ventures; and to provide more coverage of PFI and PPP. With case studies and examples of good practice, the book offers the distilled knowledge of over 100 man-years of experience in working on all aspects of project risk, giving sound practical guidance on identifying, assessing and managing risk.

Engineering Risk Management

Author: Thierry Meyer

Publisher: Walter de Gruyter GmbH & Co KG

Published: 2016-05-24

Total Pages: 352

ISBN-13: 3110418045

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This revised 2nd edition of Engineering Risk Management presents engineering aspects of risk management. After an introduction to potential risks the authors presents management principles, risk diagnostics, analysis and treatments followed by examples of practical implementation in chemistry, physics and emerging technologies such as nanoparticles.

Data Analytics for Engineering and Construction Project Risk Management

Author: Ivan Damnjanovic

Publisher: Springer

Published: 2019-05-23

Total Pages: 379

ISBN-13: 3030142515

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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 the authors 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.

Process Systems Risk Management

Author: Ian T. Cameron

Publisher: Elsevier

Published: 2005-06-14

Total Pages: 631

ISBN-13: 0080455107

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Process Systems Risk Management provides complete coverage of risk management concepts and applications for safe design and operation of industrial and other process facilities. The whole life cycle of the process or product is taken into account, from its conception to decommissioning. The breadth of human factors in risk management is also treated, ranging from personnel and public safety to environmental impact and business interruption. This unique approach to process risk management is firmly grounded in systems engineering. Numerous examples are used to illustrate important concepts –drawn from almost 40 years authors’ experience in risk analysis, assessment and management, with applications in both on- and off-shore operations. This book is essential reading on the relevant techniques to tackle risk management activities for small-, medium- and large-scale operations in the process industries. It is aimed at informing a wide audience of industrial risk management practitioners, including plant managers, engineers, health professionals, town planners, and administrators of regulatory agencies. A computational perspective on the risk management of chemical processes A multifaceted approach that includes the technical, social, human and management factors Includes numerous examples and illustrations from real life incidents

Understanding and Managing Risk Attitude

Author: Dr David Hillson

Publisher: Gower Publishing, Ltd.

Published: 2012-03-01

Total Pages: 207

ISBN-13: 1409450503

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Despite many years of development, risk management remains problematic for the majority of organizations. One common challenge is the human dimension, in other words, the way people perceive risk and risk management. Risk management processes and techniques are operated by people, each of whom is a complex individual, influenced by many different factors. And the problem is compounded by the fact that most risk management involves people working in groups. This introduces further layers of complexity through relationships and group dynamics. David Hillson's and Ruth Murray-Webster's Understanding and Managing Risk Attitude will help you understand the human aspects of risk management and to manage proactively the influence of human behaviour on the risk process. The authors introduce a range of models, perspectives and examples to define and detail the range of possible risk attitudes; looking both at individuals and groups. Using leading-edge thinking on self-awareness and emotional literacy, they develop a powerful approach to address the most common shortfall in current risk management: the failure to manage the human aspects of the process. All this is presented in a practical and applied framework, rather than as a theoretical or academic treatise, based on the authors' shared experiences and expertise, rather than empirical research. Anyone involved in implementing risk management will benefit from this book, including risk practitioners, senior managers and directors responsible for corporate governance, project managers and their teams. It is also essential reading for HR professionals and others interested in organizational or behavioural psychology. This second edition is updated to strengthen the understanding of individual risk attitudes and reinforce what individuals can do to manage those risk attitudes that are leading them away from their objectives. For people who want to embrace this subject, the book highlights ways forward that are proven and practical.

Business Impacts of COVID-19

Author: Tomasz Bernat

Publisher: Taylor & Francis

Published: 2023-07-21

Total Pages: 273

ISBN-13: 1000915646

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The coronavirus disease (COVID-19) pandemic has caused serious disruptions to the economy and business activities. The COVID-19 crisis has also exposed important weaknesses in business and supply chains. It pointed to specific sectors of the economy, primarily related to services, that suffered the most. On the other hand, it has highlighted the great flexibility of the activities of entrepreneurs in their attempts to fight the crisis. The role of government has also been important in tackling this pandemic crisis to contain the epidemic and adopt activities to help entrepreneurs who were most affected by the crisis. Numerous national aid and recovery packages have been announced to support businesses and workers. At the same time, financial decisions were made at the international level, resulting in the mobilization of huge funds that were intended to support the functioning of enterprises. This book shares observations and conclusions from contemporary research and analyses, as well as from personal experiences in creating and implementing anti-crisis solutions in economies and enterprises caused by the COVID-19 pandemic on the economy and its entities. It will be of interest to researchers, academics, policymakers, and students in the fields of international business, economics, crisis management, and entrepreneurship.

Risk Management for Design and Construction

Author: Ovidiu Cretu

Publisher: John Wiley & Sons

Published: 2011-06-15

Total Pages: 288

ISBN-13: 047063538X

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The essential risk assessment guide for civil engineering, design, and construction Risk management allows construction professionals to identify the risks inherent in all projects, and to provide the tools for evaluating the probabilities and impacts to minimize the risk potential. This book introduces risk as a central pillar of project management and shows how a project manager can be prepared for dealing with uncertainty. Written by experts in the field, Risk Management for Design and Construction uses clear, straightforward terminology to demystify the concepts of project uncertainty and risk. Highlights include: Integrated cost and schedule risk analysis An introduction to a ready-to-use system of analyzing a project's risks and tools to proactively manage risks A methodology that was developed and used by the Washington State Department of Transportation Case studies and examples on the proper application of principles Information about combining value analysis with risk analysis "This book is a must for professionals who are seeking to move towards a proactive risk-centric management style. It is a valuable resource for students who are discovering the intricacies of uncertainties and risks within value estimation. For professionals, the book advocates for identifying and analyzing 'only' risks whose impact are of consequence to a project's performance." —JOHN MILTON, PHD, PE Director of Enterprise Risk Management, Washington State Department of Transportation