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Journal articles
An integrated framework for risk response planning under resource constraints in large engineering projects
Abstract : Engineering project managers often face a challenge to allocate tight resources for managing interdependent risks. In this paper a quantitative framework of analysis for supporting decision-making in project risk response planning is developed and studied. The design structure matrix representation is used to capture risk interactions and build a risk propagation model for predicting the global mitigation effects of risk response actions. For exemplification, a genetic algorithm is used as tool for choosing response actions and allocating budget reserves. An application to a real transportation construction project is also presented. Comparison with a Sequential Forward Selection greedy algorithm shows the superiority of the genetic algorithm search for optimal solutions, and its flexibility for balancing mitigation effects and required budget.
Cited literature [37 references]
https://hal-supelec.archives-ouvertes.fr/hal-00926363
Contributor : Yanfu Li Connect in order to contact the contributor
Submitted on : Thursday, January 9, 2014 - 2:54:17 PM
Last modification on : Saturday, May 8, 2021 - 3:26:31 AM
Long-term archiving on: : Thursday, April 10, 2014 - 3:10:47 PM
Contributor : Yanfu Li Connect in order to contact the contributor
Submitted on : Thursday, January 9, 2014 - 2:54:17 PM
Last modification on : Saturday, May 8, 2021 - 3:26:31 AM
Long-term archiving on: : Thursday, April 10, 2014 - 3:10:47 PM
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