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

Dağkıran, Gülşah
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. .
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.