A Multi agent risk analysis and sharing platform for international construction projects

Download

index.pdf

Date

2015

Author

Dağkıran, Gülşah

Metadata

Show full item record

Item Usage Stats

258
views

129
downloads

The risks and complexities that are naturally inherent with construction projects and the diverging interests of the parties involved, cause deviations from the project objectives and make claims an unavoidable consequence in construction projects. Risk management is accepted as one of the critical success factors to handle the claim management process effectively. In construction management literature, while there are several studies to develop a mechanism for risk management, decision making and dispute resolution, none of them are qualified enough to cover all parts of the risk analysis and negotiation processes and to provide a realistic risk-budget sharing model. Limitations of the available analysis tools may be listed as the inability in properly describing the cause-effect relation between vulnerability and risks, inability in formulizing the interrelations of risks and relations between risks and cost overrun, inability in incorporating the risk sharing principles between project participants, contract clauses and risk management strategies directly into the computation of responsibility sharing of risks among parties. The aim of this thesis is to develop a new simulation platform that eliminates these shortcomings. With this platform, it will be possible to determine the probable risks and cost overrun by using a risk event memory consisting data regarding several completed projects, to design and simulate negotiation between project participants by considering contract conditions, short and long term objectives of the parties in order to determine the cost overrun values to be undertaken by project parties. The platform outcomes are compared with literature, tested by real projects and it has been proven to be usable and reliable. .

Subject Keywords

Construction industry., Project management., Construction industry, Construction industry, Construction industry

URI

http://etd.lib.metu.edu.tr/upload/12618599/index.pdf
https://hdl.handle.net/11511/24521

Collections

Graduate School of Natural and Applied Sciences, Thesis

Suggestions

OpenMETU
Core

Development of an IT-based tool for portfolio assessment and management for construction companies Bilgin, Gözde; Dikmen Toker, İrem; Özorhon Orakçal, Beliz; Department of Civil Engineering (2019) Development in the construction industry has leaded most of the construction companies to undertake more complex projects than before, which are generally executed concurrently. Therefore, project management routines of the companies may not support effective management of multi-projects. Project portfolio management approach has been suggested to meet requirements for coordinating multi-projects to meet strategic objectives under limited resources. Since project portfolio management requires a comprehensiv...
Development of a knowledge-based risk mapping tool for International Construction Projects Yıldız, Açelya Ecem; Dikmen Toker, İrem; Birgönül, Mustafa Talat; Department of Civil Engineering (2012) Due to its high-risk nature, international construction projects are more vulnerable to adverse changes in project environment and company objectives. To achieve successful project outcomes, early provision of risks has a vital place in managing construction projects. Within the literature, several risk assessment methodologies have been offered to simulate probable consequences of risks. The majority of the proposed methodologies are limited in reflection of real project conditions as they require probabil...
A Hybrid genetic algorithm for multi mode resource constrained scheduling problem for large size projects Gürel, Mustafa; Sönmez, Rifat; Department of Civil Engineering (2015) Just like in all industries, some of the available resources, in order to finish a project on time, are constrained in construction industry. To be able to finish the project on time has high importance both for the contractor and for the owner. Project scheduling in which resources are limited for a particular time are called as resource constrained project scheduling problems (RCPSP) and occupies a significant place in construction management. Especially for large scale projects, little success has been a...
A Support vector regression method for conceptual cost estimate of construction projects Yolasığmaz, İsmet Berki; Sönmez, Rifat; Department of Civil Engineering (2015) Conceptual cost estimate is very important for initial project decisions when the design information is limited and the scope is not finalized at the early stages of the construction projects. It has serious effects on planning, design, cost management and budgeting. Therefore, the decision makers should be as accurate as possible while estimating the conceptual cost at the initial stage since a misestimation on the conceptual cost may lead to serious problems during feasibility analysis or at the later sta...
Factors affecting the risk ratings assigned by decision-makers under uncertain situations: the case of international construction Hayat, Ehsanullah; Dikmen Toker, İrem; Birgönül, Mustafa Talat; Department of Civil Engineering (2014) Assessing risk in international construction projects is an essential part of the risk management process. Due to the lack of available data and knowledge about the project risks, objective/quantitative risk assessment is facing with some challenges and subjective/qualitative risk assessment is still a prevailing technique in the construction industry. The Probability-Impact (P-I) risk matrix/table is one of the frequently used techniques among the subjective/qualitative risk assessment methods, which usual...

Citation Formats

G. Dağkıran, “A Multi agent risk analysis and sharing platform for international construction projects,” Ph.D. - Doctoral Program, Middle East Technical University, 2015.