Managing Construction Projects Using the Advanced Programmatic Risk Analysis and Management Model
Publication: Journal of Construction Engineering and Management
Volume 135, Issue 8
Abstract
Risk management is an important part of construction management, yet the risk-based decision support tools available to construction managers fail to adequately address risks relating to cost, schedule, and quality together in a coherent framework. This paper demonstrates the usefulness of the Advanced Programmatic Risk Analysis and Management Model (APRAM) originally developed for the aerospace industry, for managing schedule, cost, and quality risks in the construction industry. The usefulness of APRAM for construction projects is demonstrated by implementing APRAM for an example based on an actual building construction project and comparing the results with other risk analysis techniques. The results show that APRAM simultaneously addresses cost, schedule, and quality risk together in a coherent, probabilistic framework that provides the information needed to support decision making in allocating scarce project resources.
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Acknowledgments
The writers wish to acknowledge the helpful advice of David Trejo and Daren Cline at Texas A&M University as well their comments on an early draft of this material. The helpful comments of the anonymous reviewers are also gratefully acknowledged.
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Information & Authors
Information
Published In
Journal of Construction Engineering and Management
Volume 135 • Issue 8 • August 2009
Pages: 772 - 781
Copyright
© 2009 ASCE.
History
Received: May 8, 2007
Accepted: Mar 30, 2009
Published online: Jul 15, 2009
Published in print: Aug 2009
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