Scheduling and Risk analysis in Construction

Scheduling and Risk analysis in Construction write a paper research about Scheduling & Risk analysis in Construction management. I will upload 3 pdf files that should the writer consider for this paper research. I need a introduction and then a literature Review for this subject from the pdf files that I already uploaded. 1- I need an introduction about the topic 2- Literature Review. Quantifying schedule risk in construction projects using Bayesian belief networks Van Truong Luu a, Soo-Yong Kim b,*, Nguyen Van Tuan c, Stephen O. Ogunlana d a Interdisciplinary Program of Construction Engineering and Management, Pukyong National University, San 100, Yongdang-Dong, Nam-Gu, Busan 608-739, Republic of Korea b Division of Construction Engineering, Pukyong National University, San 100, Yongdang-Dong, Nam-Gu, Busan 608-739, Republic of Korea c Meinhardt Vietnam Ltd., 180 Pasteur, District 1, Ho Chi Minh City, Viet Nam d The School of the Built Environment, Heriot-Watt University, Edinburgh EH14 4AS, United Kingdom Received 18 January 2007; received in revised form 29 February 2008; accepted 4 March 2008 Abstract Delays on construction projects cause financial losses for project stakeholders in developing countries. This paper describes how Bayesian belief network (BBN) is applied to quantify the probability of construction project delays in a developing country. Sixteen factors were identified through a questionnaire survey of 166 professionals. Eighteen cause-effect relationships among these factors were obtained through expert interview survey to develop a belief network model. The validity of the proposed model is tested using two realistic case studies. The findings of the study revealed that financial difficulties of owners and contractors, contractor’s inadequate experience, and shortage of materials are the main causes of delay on construction projects in Vietnam. The results encourage practitioners to benefit from the BBNs. This approach is general and, as such, it may be applied to other construction projects with minor modifications. 2008 Elsevier Ltd and IPMA. All rights reserved. Keywords: Bayesian belief networks; Construction projects; Risk management; Scheduling; Delays; Vietnam 1. Introduction Schedules are essential to the successful execution of projects. Without a schedule, it is difficult to coordinate the diverse activities found in a construction project [1]. Most schedules are developed in a deterministic manner. However, schedules often contain significant uncertainty [15] because risk and uncertainty are inherent in all construction activities [2]. As a result, schedule delays are common in various construction projects and cause considerable losses to project parties. It is widely accepted that construction project schedule plays a key role in project management due to its influence on project success. Therefore, it is important to quantify probabilities of schedule delays when managing a construction project. To serve the need for proactive project management, the need has emerged for the development of facile methods to evaluate the probability of construction time-overruns. Vietnam is highly regarded by many people as a promising economy, and there is much admiration for the growth of competitiveness and investment opportunities [3]. However the construction environment in Vietnam is risky due to poor infrastructure, underdeveloped management mechanisms, bureaucratic government, and little competition between state-own and private enterprises. As a result, delays in construction projects frequently cause financial losses for project stakeholders. As the saying goes, ‘‘a problem well identified is a problem half-solved”. Therefore, predicting possible construction schedule delays is an effective step towards improving the chances for success on construction projects. There has been very little empirical work done on this subject in the Vietnam construction industry (VCI). 0263-7863/$34.00 2008 Elsevier Ltd and IPMA. All rights reserved. doi:10.1016/j.ijproman.2008.03.003 * Corresponding author. Tel.: +82 51 620 1548; fax: +82 51 628 2231. E-mail address: kims@pknu.ac.kr (S.-Y. Kim). www.elsevier.com/locate/ijproman Available online at www.sciencedirect.com International Journal of Project Management 27 (2009) 39–50 PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET AN AMAZING DISCOUNT :)