Risk and Systems: With Applications in Infrastructure Project Management

✍ Scribed by David G. Carmichael

• Publisher: CRC Press
• Year: 2022
• Tongue: English
• Leaves: 207
• Category: Library

✦ Synopsis

Risk is related to the magnitude and uncertainty of an output (consequence or outcome); outputs take on different identities in different disciplines and situations. Risk is peculiar to each stakeholder and the measurement scale for risk depends on the stakeholder’s value system. Risk management provides a way of addressing the issues associated with the magnitude and uncertainty of outputs. This book provides a distinctively rational treatment of risk and risk management, based on a systems approach. The book’s treatment applies to all disciplines and sets out the principles of risk and risk management as well as looking at a range of applications and more specialist tools and approaches. The book

Develops a risk framework through a systems approach
Offers a challenging and fresh approach for infrastructure engineering, construction and project management in general
The book will suit students and practitioners alike.

✦ Table of Contents

Cover
Half Title
Title Page
Copyright Page
Dedication
Table of Contents
Preface
Readership
About the Author
Part A: Development
Chapter 1: Introduction
1.1 Background
1.2 Book outline
1.3 Terminology
Chapter 2: Some fundamental systems ideas
2.1 Outline
2.2 Systems background
2.2.1 Variables
2.2.2 Fundamental configurations
2.2.3 Applied to risk management
2.3 Measurement and scale types
2.3.1 Nominal scale type
2.3.2 Ordinal scale type
2.3.3 Interval scale type
2.3.4 Ratio scale type
2.3.5 Comments
Chapter 3: What is risk?
3.1 Acceptable definition
3.2 Disarray
3.3 Existing definitions
3.4 Dictionaries
3.5 Popular usage
3.6 Other occurrences
3.7 Summary
Chapter 4: Risk management (RM)
4.1 Accepted step approach
4.2 Issues in risk management
4.3 Part A outline
Chapter 5: RM step – definition and context
5.1 Outline
5.2 Summary
Chapter 6: RM step – risk source identification
6.1 Introduction
6.2 Qualitative approach
6.3 Quantitative approach
6.4 Achilles heel
6.5 Tools assisting identification
6.5.1 Experience
6.5.2 Event trees, fault trees
6.5.3 Checklists
6.5.4 What-If analysis
6.5.5 Deviations, sensitivity
6.5.6 A systematic framework
6.5.7 Process and flow charts
6.5.8 Audits
6.5.9 Historical perspective
6.5.10 Ergonomics
6.5.11 Industry publications
6.5.12 Brainstorming
Chapter 7: RM step – analysis and evaluation
7.1 Introduction
7.1.1 Analysis
7.1.2 Evaluation
7.1.3 Of interest
7.2 Analysis
7.3 Evaluation
Chapter 8: RM step – response
8.1 Introduction
8.2 Example Adjustments
Chapter 9: RM summary
Part B: Applications
Chapter 10: Project delivery methods
10.1 Introduction
10.2 Background
10.3 Owner’s risk
10.4 Decomposition of delivery method
10.5 Owner risk development
10.6 Closure
Chapter 11: Risk allocation in contracts
11.1 General principles
11.2 Contract payment types
11.3 Closure
Chapter 12: Workplace health and safety
12.1 State of practice
12.2 Examples
12.3 Injuries still occur
Chapter 13: Management and project management
13.1 Introduction
13.2 Examples
Chapter 14: Tenders and contracts
14.1 Introduction
14.2 Tender examination
14.3 Tender checklist
14.4 Risk slant
14.5 Closure
Chapter 15: Project-related risk
15.1 Introduction
15.2 When should risks be examined?
15.3 Contingency
15.4 Techniques and methods
15.5 Appraisal and feasibility
Chapter 16: P50-P90 project cost estimates rationale
16.1 Introduction
16.2 Background
16.3 Case example
16.4 Risk
16.5 Overspend
16.6 Loss of access to funds
16.7 Total cost – utility
16.8 Contingency – utility
16.9 Duration influence
16.10 Summary
Chapter 17: Options
17.1 Overview
17.2 Option value and risk
Chapter 18: Accounting, finance and economics
18.1 Introduction
18.2 Background
18.3 Terms
18.4 Usages in accounting, finance, economics and related disciplines
18.4.1 Outline
18.4.2 Possibility, loss, impact
18.4.3 Chance, probability, likelihood, uncertainty
18.4.4 Standard deviation, variance, volatility, range
18.4.5 Variations, fluctuations, changes, deviations
18.4.6 Expected value, utility
18.4.7 Exposure
18.4.8 Risk as risk
18.4.9 Miscellaneous
18.4.10 Output magnitude-output likelihood
18.4.11 Discussion
18.5 Risk registers and output magnitude-output likelihood
18.6 Risk management
18.7 Conclusion
Chapter 19: Reliability
19.1 Introduction
19.2 Background
19.3 Static systems
19.4 Dynamic systems
19.5 Structural engineering
Chapter 20: Fault trees, event trees
20.1 Introduction
20.2 Overview
20.3 Fault trees
20.4 Event trees
References
Index