Lifecycle Risk Modelling of Complex Projects

Matthew Cook and John P.T. Mo

A chapter in Perspectives on Risk, Assessment and Management Paradigms from IntechOpen

Abstract: Large, complex and challenging engineering projects require extensive understanding and management of risk. How these risks are identified at the infancy of a project and subsequently mitigated throughout the project lifecycle is critical to successful delivery. Many projects begin with a comprehensive attempt to identify risks but lack the tools to manage and measure risk mitigation as the project progresses through the lifecycle causing the project to spiral out of control. This chapter outlines details of a risk model that uses a system within a system approach of identifying and segmenting risks. The model can then be analysed quantitatively and generate a visual lifecycle risk profile that allows the project team to monitor risks continuously in the project lifecycle. Furthermore, the use of a baseline or ideal project is proposed that is used as a measure of likely success against new projects.

Keywords: risk profile; enterprise modelling; project lifecycle assessment; supply chain risks (search for similar items in EconPapers)
JEL-codes: Q56 (search for similar items in EconPapers)
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.intechopen.com/chapters/64655 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ito:pchaps:159502

DOI: 10.5772/intechopen.82273

Access Statistics for this chapter

More chapters in Chapters from IntechOpen
Bibliographic data for series maintained by Slobodan Momcilovic ().