Risk Evaluation in Resource Allocation
Publication: Journal of Construction Engineering and Management
Volume 110, Issue 3
Abstract
Conventional resource allocation procedures implicitly assume that the availability of resources is certain. In real life situations, their availability is, at times, uncertain. A Risk Evaluation Model (REM) is proposed to systematically evaluate the uncertainty of resource availability and generate several alternatives having varying project completion time, cost, and performance probability. REM can aid a contractor in “bid/no‐bid” decision‐making, an entrepreneur in investment decision‐making, and a consultancy organization in corporate planning.
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References
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Ahuja, H. N., Project Management: Techniques in Planning and Controlling Construction Projects, John Wiley & Sons, New York, N.Y., 1984.
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Information & Authors
Information
Published In
Journal of Construction Engineering and Management
Volume 110 • Issue 3 • September 1984
Pages: 324 - 336
Copyright
Copyright © 1984 ASCE.
History
Published online: Sep 1, 1984
Published in print: Sep 1984
Authors
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