Using the bowtie method to evaluate the risks in a construction project
Contents |
Abstract
The main goal of risk management in construction projects, is to give the companies and project managers different skill sets to deal with the threats that occur during all phases of the project.
The risk exposure for construction projects arise from the very beginning of the development idea, to the handover and operation. During all phases there are many aspects where risk is involved. A few of these aspects include, project material e.g. architectural drawings, communication platforms, safety of craftsman, weather conditions, force-majeure, finances and stakeholder engagement.
The potential time and economical savings in construction projects can be achieved by adopting risk management where suitable measures are used to avoid errors and mistakes in the future.
The article includes an introduction to risk management within construction projects, the processes that are linked to risk management and a description of methods from identifying risk to a risk-response plan. The article will end up with a brief summary of benefits and limitations in risk management for construction projects.
Introduction
Description of main risks during a construction project
The process of risk management
Risk identification
Risk analysis
Risk assessment
Evaluation and risk response
Risk monitoring and control
Summary of benefits and limitations
Annotated bibliography
https://www.danskbyggeri.dk/media/3371/19151risikostyringbyggeriet.pdf
http://www.tandfonline.com/doi/pdf/10.1080/16111699.2006.9636126