Worth the risk?

Article Abstract:

Integrated and cost-effective decision analysis methods of risk assessment help contractors, engineers, and owners to take effective measures in mitigating the uncertainties of construction works. Around 57 subsurface failure modes are qualitatively analyzed to determine the effectiveness of integrated decision analysis method. Assessment of cost and delay related implementation of risk strategies should be carried on and compared with the benefits. An overall periodic updating of risk-assessment is required for the effective management of risk-assessment.

Analysis, Risk assessment

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Project management is in the details

Article Abstract:

A case study highlighting the importance of written documentation in project management is presented. The case study revolves around the lawsuit that arose from the construction of storm-water system in a residential neighborhood in a city in Ohio. The city was sued by one of the property owners in the neighborhood who gave his verbal consent so that the project could proceed. The project manager failed to ask the property owner to sign an easement document that would absolve the city from any liability.

Construction industry, Project management, Case studies

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Decision support

Article Abstract:

Great Lakes Power Ltd. (GLP), a private utility company, efficiently uses a computerized decision support system (DSS) to assist its plant operators in utilizing power and saving money. The DSS involves efficient coordination of database management activities, a graphical user interface, and user-activated processes. The DSS saves GLP an estimated $1 million annually. DSS implementation requires system operators' cooperation and user-friendly initiation and estimation features.

Management, Electric utilities, Technology application, Electric power plants, Power plants, Great Lakes Power Ltd.

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