The risk aversion measures in Architectural Engineering Project Management

With the continuous development of the construction industry, the scale and volume of the construction project is expanding. And the project management of the construction project still has the big risk problem which influenced by many factors. These risks will not only bring unnecessary interference to the construction of the project, but also may jeopardize the safety of people＇s life and property. It is the focus of this article to do a good job in risk aversion in the management of construction projects.

Research on Risk Evaluation Method for International Engineering Projects

Risk evaluation is one of the important elements of international engineering project management. The risk factors of international engineering projects are systematically analyzed from multiple dimension features of the projects. The muhilayer evaluation index system for the international engineering project risk assessment is proposed and constructed, which consists of 8 I-grade indexes and 24 II-grade indexes as policy risk, market risk, resource risk, and technical scheme risk, schedule risk, funding risk, personnel risk and management risk. And then the self-evaluation and benchmarking evaluation methods are applied to evaluate the international engineering project risk, and established the corresponding mathematical models. Finally, a project evaluation example is given to illustrate the applicability and effectiveness of the mathematical models.

A Review on the Role of Risk Management (RM) and Value Engineering (VE) Tools for Project Successful Delivery

Both in developed and in developing countries, the construction industry is regarded as an economic investment activity without forgetting its significant relationship with national economic development due to its great contributions to the national gross domestic product (GDP) of the country. Concerning construction processes, both risk management (RM) and value engineering (VE) techniques have commonalities from the beginning up to the completion of the project due to enhancing the project value/quality, meeting the project deadline, and reducing overall project cost. VE includes resolving the uncertainty of project objectives and ensuring that the project is delivered in a value for money way. The key point of RM is to solve the uncertainty of the project itself and its results to ensure that the specifications are achieved within the prescribed time, cost, and quality constraints. This review work is comparatively and collectively focused on assessing the role of RM and VE tools for project successful delivery. It studies the points of difference and common features of the two aspects in terms of construction project delivery. So, this study concluded that in construction RM tool cannot be the chief aim of the all parties involved in the project execution because sometimes it produces itself negative results and reduces project management success. Therefore, RM needs a strong combination with VE due to the dependence of the target in identifying and assessing risks by considering the highest performance and lowest cost. The integration of RM and VE combination in a single study would avoid duplication of work and deliver better value for money thereby leading to better project outcomes.

Risk assessment and management in underground rock engineering——an overview

This paper attempts to provide an overview of risk assessment and management practice in underground rock engineering based on a review of the international literature and some personal experience. It is noted that the terminologies used in risk assessment and management studies may vary from country to country. Probabilistic risk analysis is probably the most widely-used approach to risk assessment in rock engineering and in geotechnical engineering more broadly. It is concluded that great potential exists to augment the existing probabilistic methods by the use of Bayesian networks and decision analysis techniques to allow reasoning under uncertainty and to update probabilities, material properties and analyses as further data become available throughout the various stages of a project. Examples are given of the use of these methods in underground excavation engineering in China and elsewhere, and opportunities for their further application are identified.

From risk management to uncertainty management: a significant change in project management

Starting with the meanings of the terms “risk” and “uncertainty,””he paper compares uncertainty management with risk management in project management. We bring some doubt to the use of “risk” and “uncertainty” interchangeably in project management and deem their scope, methods, responses, monitoring and controlling should be different too. Illustrations are given covering terminology, description, and treatment from different perspectives of uncertainty management and risk management. Furthermore, the paper retains that project risk management (PRM) processes might be modified to facilitate an uncertainty management perspective, and we support that project uncertainty management (PUM) can enlarge its contribution to improving project management performance, which will result in a significant change in emphasis compared with most risk management.

On the Application of IPRA Tool in Risk Assessment and Management of International Construction Projects

Construction companies face threats from competition and must be able to adjust to modem technology and changes in customer expectations. These issues require efficient risk management techniques. The success of construction companies running projects in international markets depends on how the risks arise from the host country conditions as well as the project specific risk factors. Successful management of risks requires identification of risks, construction of a risk model which can be used to assess the magnitude of risks, and implementation of response strategies so that an acceptable risk-return balance can be achieved. The project success usually depends on the combination of all risks, response strategies used to mitigate risks, and a company＇s ability to manage them. There exists a need to develop risk models containing the risks of doing business in international markets and factors that affect manageability of these risks. One of the market＇s critical challenges is scheduled management and the understanding and application of program management. This paper uses systematic risk identification, classification and analysis, and measurement and response methodologies to help international contractors quantify the risks of project development and accomplishment.

Safety risk management of underground engineering in China：Progress, challenges and strategies

Underground construction in China is featured by large scale, high speed, long construction period,complex operation and frustrating situations regarding project safety. Various accidents have been reported from time to time, resulting in serious social impact and huge economic loss. This paper presents the main progress in the safety risk management of underground engineering in China over the last decade, i.e.（1） establishment of laws and regulations for safety risk management of underground engineering,（2） implementation of the safety risk management plan,（3） establishment of decision support system for risk management and early-warning based on information technology, and（4） strengthening the study on safety risk management, prediction and prevention. Based on the analysis of the typical accidents in China in the last decade, the new challenges in the safety risk management for underground engineering are identified as follows：（1） control of unsafe human behaviors;（2） technological innovation in safety risk management; and（3） design of safety risk management regulations. Finally, the strategies for safety risk management of underground engineering in China are proposed in six aspects, i.e. the safety risk management system and policy, law, administration, economy, education and technology.

Risk Management： A New Project Management Perspective

Risk management in Botswana has been very ineffective at assisting projects to be on time, on budget, and meeting client＇s/buyer＇s expectations. Traditional risk management attempts to manage, control, and direct a project through various phases, from planning and design, through procurement, and to construction. However, the risk management in Botswana seems to be either not implemented or not successful. The project performance in Botswana has a poor performance record. The researchers are attempting to identify why the traditional project/risk management is not working. In analyzing the problem in Botswana, the researchers discovered that the traditional risk management model was theoretically unsound, and designed a new project and risk model, with an entirely different approach to risk. The new model is an outgrowth of the highly successful Performance Information Procurement System （PIPS） and the Information Measurement Theory （IMT）/Kashiwagi Solution Model （KSM） concepts. The approach has been presented to some Botswana clients and academics and has received a favorable response. The development of the new risk model will lead to a huge change in the paradigm for delivering projects in Botswana. The theoretical development of the new risk model is ongoing at the University of Botswana as a part of a doctoral dissertation.

Research on Innovation of Engineering Project Management Mode and Intelligent Management

In order to realize the standardization and normalization of environmental protection project management.This paper uses the literature method to study the current status of the existing project management mode,and points out the problems:lack of a sound project management system,insufficient information application of project management,and unclear decentralization in project management;on this basis,this paper proposes optimization strategies from the aspects of perfecting the engineering project management system,clarifying the allocation of project management authority,and strengthening the construction of engineering project management information.And put forward the future development trend of project engineering management,on the basis of two mainstream management modes of BOT(Build-Operate-Transfer)and EPC(Engineering Procurement Construction),build a standardized project management platform to achieve intelligent management.Realize intelligent management of engineering project management to achieve standardization and standardization,greatly improving the efficiency of project management.

Understanding of an‘Enlightened Planning’Approach in Project Risk Management

This article explains the execution and delivery progression phases of the project lifecycle.It is the third phase of the project lifecycle that leads to the final realization of the project's goals.However,this essay will describe the understanding of the‘enlightened planning’approach during the execution and delivery strategy progress of a project’s lifecycle.The features and details in the Enlightened Planning and PMI PMBOK Guide are compared.The author explored the nature and role of basic frameworks such as the project lifecycle,the process phase structure,and key project definition questions—the seven Ws(Who,Why,What,Which way,Wherewithal,When,Where).Combining Enlightened Planning and PMI PMBOK Guide,the differences between the two approaches are given.In addition,the author elaborated the advantages and disadvantages of the two approaches in current practice.

Risk Management and Operation Strategies of Chinese Overseas Risk Exploration Projects

Currently,the investment of oil and gas industry is still facing an unfavorable environment,in which,instable factors,such as financial crisis,terrorist,religious conflicts and rigorous environmental regulations,keep mucking up the business all around the world.Meanwhile,China’s rapid energy consumption growth boosted by a booming economy has put the country to rely heavily on exported oil.It is therefore extremely urgent to expand and diversify petroleum supply channel in consideration of the country’s energy security.As the world’s economy has been slowly recovering from the slump and

Impacts of Chinese Translators’Risk Management Ability on Translation Project Outcomes:A Study Based on Structural Equation Model

Translation project outcomes are affected by many factors.Hence,this study explored the impact of risk management ability of translators on translation project outcomes in China.In the study,we took risk management ability of translators in translation projects as the research objective and collected research data through an online questionnaire to establish a structural equation model.Based on these data in the model,we analyzed impacts of translators’risk management ability on translation project outcomes.Evidently,risks in project planning during translation as well as proofreading and typesetting after translation affect the delivery and remuneration of translation.The study can help translators correctly recognize and manage the risks in translation practices,increase the success rate of translation projects and further promote the sound development of language services.

Construction Safety Management of Mechanical and Electrical Installation Projects

Various industries today rely on the support of electromechanical equipment,expanding its scope of application and leading to an increase in electromechanical installation projects.However,due to the high level of expertise required and the potential risks involved,it is crucial to emphasize safety management during construction.This paper delves into the significance of construction safety management for electromechanical installation projects,identifies common problems encountered during construction,and proposes solutions.This analysis aims to provide relevant personnel with essential guidance and references for managing electromechanical installation projects safely.

Risk Analysis of the Development of Sustainable Dongtan

Dongtan is set to be developed as a sustainable urban-rural integration,aiming to attract a wide range of commercial and leisure investments.The Shanghai Industrial Investment Corporation(SIIC),the largest international investment group owned by the Shanghai municipal government,is leading the Dongtan project in partnership with Arup.The project’s risks are categorized into eight major groups:(1)Force majeure,(2)people-related risks,(3)financial and economic risks,(4)political and country risks,(5)environmental risks,(6)completion-related risks,(7)design-related risks,and(8)technology risks.Among these,political risk is particularly notable for its high probability and significant impact.Effective project risk management is essential to foresee and address uncertainties that could jeopardize the project’s objectives and timelines.Appropriate strategies must be implemented to manage and mitigate these risks.

Cost-Benefit Analysis of the Wuxikou Integrated Flood Management Project Considering the Effects of Flood Risk Reduction and Resettlement

Evaluation of the economic costs and benefits of flood disaster risk management projects is crucial.However,current costbenefit analyses(CBA) often lack reliable estimates of the expected loss reduction from flood control measures and ignore quantitative assessments of resettlement.To address these limitations,this study incorporated a probabilistic risk analysis method and quantitative resettlement benefits assessment into the CBA framework,using the Wuxikou Integrated Flood Management Project(WIFMP) in Jiangxi Province,China,as a case study.The direct economic benefits of flood control were estimated by integrating hydrological statistics,numerical flood inundation simulation,and quantitative damage analysis with exposure and vulnerability data.Furthermore,the resettlement benefits were quantified by measuring the annual income growth of migrants based on assumptions about household employment.Our analysis shows that the total WIFMP investment is RMB 3546.1 million yuan(USD 1=RMB 6.976 yuan),including loan principal and interest of 244.4 million yuan,and operations and maintenance of 605.5 million yuan at 2020 prices.Annual project benefits are estimated at 351.3 million yuan in flood risk reduction,155.7-191.9 million yuan from increased resettlement income,and 42.7 million yuan in power and water revenues.Considering the costs and benefits across the entire project lifecycle,the internal rate of return ranges from 13.7 to 14.2%,and the net present value ranges from 31.8 to 352.6 billion yuan.Through improved benefit estimation methodology,this research enables a more reliable and holistic evaluation of costs and benefits for flood risk management projects.It provides insights for policymakers and practitioners involved in similar projects,contributing to more informed decision making and better allocation of resources in flood disaster risk management.

Model of generic project risk element transmission theory based on data mining

In order to construct the data mining frame for the generic project risk research, the basic definitions of the generic project risk element were given, and then a new model of the generic project risk element was presented with the definitions. From the model, data mining method was used to acquire the risk transmission matrix from the historical databases analysis. The quantitative calculation problem among the generic project risk elements was solved. This method deals with well the risk element transmission problems with limited states. And in order to get the limited states, fuzzy theory was used to discrete the historical data in historical databases. In an example, the controlling risk degree is chosen as P(Rs≥2) ≤0.1, it means that the probability of risk state which is not less than 2 in project is not more than 0.1, the risk element R3 is chosen to control the project, respectively. The result shows that three risk element transmission matrix can be acquired in 4 risk elements, and the frequency histogram and cumulative frequency histogram of each risk element are also given.

SDWAN (Software Defined-WAN) Network Engineering and Project Management

Many organizations are struggling to provide high bandwidth and reliable internet connectivity at their branch offices and business locations and getting the most out of their operational expense.The need for internet connectivity at any branch offices and business locations is not a luxury anymore but is a necessity.Let us try to understand how to plan and document the SDWAN(Software Defined-Wide Area Network)implementation in an organization.We will try to understand why it is essential to implement the new technology instead of investing in the existing MPLS(Multi-Protocol label switching)by taking an example of a retail organization.Methods:This project/research was performed using the abilities of Software Defined Network Technology and options available in MPLS(Multi-Protocol Label Switching).The Technical Project management principles were adopted as per PMI(Project Management Institute)waterfall methodology.Results/Conclusion:SDWAN technology provides an effective replacement of MPLS network connection for providing WAN connectivity for our office locations.It is essential to follow a documented process for appropriate vendor selection based on the available features and other listed attributes in the article.To be successful in the implementation it is essential to perform a POC(Proof of Concept)in a controlled environment and validate results.SDWAN provides better network performance and improves reliability as the links operate in active-active function.

Ecological Risk Management of Drinking Water Project: The Case Study of Kunming City

Following rapid infrastructure development and industrialization, the problems of water pollution and water shortage have become more severe. Whether there is safe drinking water in cities has attracted wide attention.The ecological risk management of drinking water project is an important means of ensuring the safety of a drinking water source. Based on ecological risk assessment and management theories, this paper establishes an ecological risk management model and assessment system with the aim of providing theoretical guidance and scientific basis for formulating a policy on the safety and protection of drinking water sources in a city. Kunming is one of the cities plagued by severe water shortage in China. Its ecological risk management of drinking water has attracted the attention of both the local government and the public.Using Kunming as the case study, this paper conducts a comparative analysis and assessment on three major reservoirs that face ecological risks. It highlights the existing problems and gives helpful suggestions.

A Novel Method for Assessing and Optimizing Software Project Process Based Risk Control

A new approach for assessing and optimizing software project process based on software risk control presented, which evaluates and optimizes software project process from the view of controlling the software project risks. A model for optimizing software risk control is given, a discrete optimization algorithm based on dynamic programruing is proposed and an example of using above method to solve a problem is also included in this paper. By improving the old passive post-project control into an active effective preaction, this new method can greatly promote the possibility of success of software projects.

Automatic Risk Identification in Software Projects:an Approach based on Inductive Learning

Effective risk management is very important to increase the probability of success in software projects. Indeed, like other types of projects, software projects are also susceptible to various problems that can lead to the cancelation of their development or to the development of systems that do not meet the client’s requirements. One of the main active- ties of risk management is the risk identification, because the list of risks generated in this activity is used all along the risk control process. Thus, this work proposes the creation of an expert system which is capable of identifying risks in software projects by using the lessons inductively learned from similar software projects already developed. By using this proposed expert system, project managers and software developers must be able to avoid errors of the past.