A Methodology for Integrated Risk Management and Proactive Scheduling of Construction Projects

KU Leuven Working Paper No. KBI 0620

28 Pages Posted: 12 Dec 2006

See all articles by Damien Schatteman

Damien Schatteman

affiliation not provided to SSRN

Willy Herroelen

Catholic University of Leuven (KUL)

Stijn Van de Vonder

KU Leuven - Faculty of Business and Economics (FEB)

Anton Boone

WTCB - CSTC - BBRI (Belgian Building Research Institute)

Date Written: 2006

Abstract

An integrated methodology is developed for planning construction projects under uncertainty. The methodology relies on a computer supported risk management system that allows to identify, analyze and quantify the major risk factors and derive the probability of their occurrence and their impact on the duration of the project activities. Using project management estimates of the marginal cost of activity starting time disruptions, a proactive baseline schedule is developed that is suffciently protected against the anticipated disruptions with acceptable project makespan performance. The methodology is illustrated on a real life application.

Keywords: Risk, Risk management, Management, Scheduling, Construction, Planning, Uncertainty, Factors, Probability, Impact, Project management, Cost, Time, Performance, Real life

Suggested Citation

Schatteman, Damien and Herroelen, Willy and Van de Vonder, Stijn and Boone, Anton, A Methodology for Integrated Risk Management and Proactive Scheduling of Construction Projects (2006). KU Leuven Working Paper No. KBI 0620. Available at SSRN: https://ssrn.com/abstract=950903 or http://dx.doi.org/10.2139/ssrn.950903

Damien Schatteman (Contact Author)

affiliation not provided to SSRN

Willy Herroelen

Catholic University of Leuven (KUL) ( email )

Leuven, B-3000
Belgium

Stijn Van de Vonder

KU Leuven - Faculty of Business and Economics (FEB) ( email )

Naamsestraat 69
Leuven, B-3000
Belgium

Anton Boone

WTCB - CSTC - BBRI (Belgian Building Research Institute) ( email )

Lozenberg 7
Sint-Stevens-Woluwe, 1932
Belgium

Register to save articles to
your library

Register

Paper statistics

Downloads
659
Abstract Views
2,662
rank
38,474
PlumX Metrics