Using the bowtie method to evaluate the risks in a construction project

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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 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.
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The bowtie method visualizes the hazardous events that are present during a project, it gives an overview of multiple plausible scenarios that can occur during a project.  
 
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This article will give an explanation of the process and the different areas within this method. There will continuously be applications, within construction projects, for section that together create the bowtie method.
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.
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= Description of main risks during a construction project =
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= Description of the bowtie method =
 
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= The process of risk management =
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== Risk identification ==
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== Risk analysis ==
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==Hazards==
  
== Risk assessment ==
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==Causes==
  
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==Consequences==
  
== Evaluation and risk response ==
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==pre/post event controls==
  
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==Additional controls==
  
== Risk monitoring and control ==
 
  
  

Revision as of 19:21, 13 September 2016


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 bowtie method visualizes the hazardous events that are present during a project, it gives an overview of multiple plausible scenarios that can occur during a project. This article will give an explanation of the process and the different areas within this method. There will continuously be applications, within construction projects, for section that together create the bowtie method.


Introduction

Description of the bowtie method

Hazards

Causes

Consequences

pre/post event controls

Additional controls

Summary of benefits and limitations

Annotated bibliography

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