Using Post-Project Reviews for Risk Assessment of Construction Projects

Download

Pegah Shokouhi - Master Thesis main.pdf

Date

2022-8-26

Author

Shokouhi, Pegah

Metadata

Show full item record

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Item Usage Stats

374
views

215
downloads

Risk management (RM) is about identifying risk factors, analyzing their impacts on project success, and developing management strategies to mitigate them. Learning from previous projects to make better predictions in forthcoming projects is critical for the success of RM activities. Many construction companies conduct post-project reviews (PPRs) to record lessons learned (LL) from projects. However, if these reports do not contain the necessary risk-related information and are not prepared and stored in the proper format, they cannot be utilized during a risk assessment. This thesis aims to explore post-project appraisal practices in construction companies, types of knowledge retained by these reports, and particularly investigate how these reports used during risk informed decision making. In order to explore current practices and learn the opinions of experts on the utilization of PPRs in forthcoming projects, semi-structured interviews are conducted. Four experts from four medium-large scale construction companies that have international experience are interviewed. Interviews were transcribed, and qualitative analysis of semi-structured interviews was carried out by using the QSR Nvivo qualitative data analysis software. Findings revealed how PPRs could be used for learning from previous projects and risk assessment and formulating potential ways/strategies to improve this process. The study's key findings include as follow: organizations must determine required risk knowledge and LL and target those lessons to particular audiences; the format and content of the PPRs dictate how the lessons should be obtained, stored, and disseminated for risk assessment of projects; lack of administration involvement to the PPR process is the most critical barrier to include and use risk knowledge. The findings strongly indicate that collecting and sharing risk knowledge should be based on a structured strategy to increase the benefits of applying PPRs for risk assessment of construction projects. It is believed that thesis findings will contribute to the body of knowledge on project risk management, and the study will provide practical contributions for construction companies aim to improve their risk management systems.

Subject Keywords

Risk Management, Post-Project Reviews, Knowledge Management, Lessons Learned

URI

https://hdl.handle.net/11511/99758

Collections

Graduate School of Natural and Applied Sciences, Thesis

Suggestions

OpenMETU
Core

Learning from risks: A tool for post-project risk assessment Dikmen Toker, İrem; Birgönül, Mustafa Talat; Aouad, G. (2008-12-01) Risk management (RM) comprises of risk identification, risk analysis, response planning, monitoring and action planning tasks that are carried out throughout the life cycle of a project in order to ensure that project objectives are met. Although the methodological aspects of RM are well-defined, the philosophical background is rather vague. In this paper, a learning-based approach is proposed. In order to implement this approach in practice, a tool has been developed to facilitate construction of a lessons...
A Decision Support System for Project Portfolio Management in Construction Companies Bilgin, Gozde; Dikmen Toker, İrem; Birgönül, Mustafa Talat; ÖZORHON ORAKÇAL, BELİZ (2022-11-01) Project portfolio management requires a systematic process that comprises assessment of portfolio risk and expected profitability, as well as strategic fit of individual projects with company objectives. After a needs analysis based on literature findings and surveys with experts, in this study, a process model and a tool, COPPMAN (COnstruction Project Portfolio MANagement), were developed to support project portfolio decisions in construction companies. COPPMAN was developed in collaboration with construct...
ASSESSMENT OF SUPPLIER RISK FOR COPPER PROCUREMENT Buzdogan-Lindenmayr, Ezgi; Kara, Guray; Kestel, Sevtap Ayşe (2019-01-01) Procurement risk management (PRM) requires a good understanding and assessment of all potential risks. As the procurement industry mostly functions globally and the supply-demand chain forms a dependency structure among all interested parties, the quantification of risks related to the suppliers gain importance. This study presents a systematic PRM to evaluate and quantify the risks of a commodity associated to its suppliers. The probabilistic set up using total probability theorem on the information collec...
Using boolean- and fuzzy-logic-based methods to analyze multiple case study evidence in management research Oz, O (SAGE Publications, 2004-06-01) The case study method has been widely used as a research strategy in the management field. The issues of comparability and of generalizability when using this method, however, continue to raise profound challenges for researchers. Boolean- and fuzzy-logic-based methods offer a valuable basis for a contribution in this respect because they enable researchers to derive valid meaning from data and to introduce additional analytical rigor into case study research. Inspired by this opportunity, the present artic...
An Experimental Study on Impact of Risk Data Visualization onRisk Evaluations Dikmen Toker, İrem; Eken, Görkem (null; 2018-11-18) Risk assessment is a systematic process to characterize and evaluate risk, with the available knowledge. Thus, its success depends significantly on the "availability of knowledge" during the assessment process. The knowledge elicitation from experts, the structure of the risk database and information visualization that may help sense-making from previous projects are critical factors that can improve risk assessment process. Risk assessment is usually carried out at the start of a project and updated during...

Citation Formats

P. Shokouhi, “Using Post-Project Reviews for Risk Assessment of Construction Projects,” M.S. - Master of Science, Middle East Technical University, 2022.