A generic risk and vulnerability assessment framework for international construction projects

Özcan, Gülbin
Project Risk Management (PRM) comprises of identification and assessment, analysis and mitigation of risk factors in order to meet the project objectives. Risk identification and assessment process has the greatest importance as the risk models are constructed based on previously defined risk sources and their interrelations. Although previous studies have concentrated on the relation between risk events and their consequences, the link between them must be modeled by considering the various chains of risk events and the capacity of a “system” to react to risk events simultaneously. The concept of “risk paths” should be used to identify chains of risk events by means of a Hierarchical Risk Breakdown Structure (HRBS) rather than defining individual risk factors. The “system” consists of the characteristics of the project, company and involved parties. The word “vulnerability” is used to describe the degree v to which a project is susceptible to adverse effects of change. The aim of the current study is to develop a common vocabulary and design a HRBS that integrates vulnerability factors with risk factors. A generic risk and vulnerability assessment framework for international construction projects is presented in this research. The justification of the factors considered within the breakdown structure has been achieved by referring to real construction projects carried out by Turkish contractors in international markets.


Development of a risk management decision support system for intarnational construction projects
Arıkan, Arif Erdem; Dikmen Toker, İrem; Department of Civil Engineering (2005)
It is agreed upon by many researchers that, although risk management (RM) is accepted as one of the critical success factors for construction projects, project participants generally do not have sufficient knowledge pertinent to risk management concept and the number of risk management support tools which facilitate the process is rather low. In order to facilitate risk management activities, decision support tools that will enable risk identification, analysis and response strategy formulation should be de...
An analytic hierarchy process based model for risk and opportunity assessment of international construction projects
Dikmen Toker, İrem; Birgönül, Mustafa Talat (Canadian Science Publishing, 2006-01-01)
Risk assessment of international projects is a complicated task because of the sensitivity of project success related to country specific risks as well as project risks. Decision makers face the difficulty of weighing project opportunities against risks and determining attractiveness of projects while giving bidding decisions. The aim of this paper is to propose a methodology for risk and opportunity assessment of international projects. The proposed model uses an analytic hierarchy process for calculation ...
A knowledge-based risk mapping tool for cost estimation of international construction projects
Yildiz, Acelya Ecem; Dikmen Toker, İrem; Birgönül, Mustafa Talat; Ercoskun, Kerem; Alten, Selcuk (Elsevier BV, 2014-07-01)
Effective risk assessment and management is critical for success in international construction projects. This paper proposes a knowledge-based risk mapping tool for systematically assessing risk-related variables that may lead to cost overrun in international markets. The tool uses an ontology that relates risk and vulnerability to cost overrun [1] and a novel risk-vulnerability assessment methodology [2] to estimate potential risk paths that may emerge in international construction projects. The tool has b...
A probabilistic schedule delay analysis in construction projects by using fuzzy logic incorporated with relative importance index (RII) method
Özdemir, Mustafa; Gündüz, Murat; Department of Civil Engineering (2010)
The aim of this thesis is to propose a decision support tool for contractors before the bidding stage to quantify the probability of schedule delay in construction projects by using fuzzy logic incorporated with relative importance index (RII) method. Eighty three (83) different schedule delay factors were identified through detailed literature review and interview with experts from a leading Turkish construction company, then categorized into nine (9) groups and visualized by utilizing Ishikawa (Fish Bone)...
An integrated seismic hazard framework for liquefaction triggering assessment of earthfill dams' foundation soils
Ünsal Oral, Sevinç; Çetin, Kemal Önder; Department of Civil Engineering (2009)
Within the confines of this study, seismic soil liquefaction triggering potential of a dam foundation is assessed within an integrated probabilistic seismic hazard assessment framework. More specifically, the scheme presented hereby directly integrates effective stress-based seismic soil liquefaction triggering assessment with seismic hazard analysis framework, supported by an illustrative case. The proposed methodology successively, i) processes the discrete stages of probabilistic seismic hazard workflow ...
Citation Formats
G. Özcan, “A generic risk and vulnerability assessment framework for international construction projects,” M.S. - Master of Science, Middle East Technical University, 2008.