Abstract
Due to the high uncertainties incorporated in performing international construction projects, a risk-based intelligent agent system with a risk assessment and monitoring module is developed to support the practitioners in managing the overall construction life cycle. The assessment of the risks are demonstrated through the Total Risk Index (TRI),which consists of the Analytic Hierarchy Process (AHP) for relative importance within each risk category and risk quantification method, in selecting the level of probability, impact, and the significance of the individual risk factors. Through the derived result of the TRI, the different phases of a construction project can be monitored, as well as deriving the risk factors that are to be managed in priority. Furthermore, in-depth survey databases of previous construction projects are supported to present the management guideline and the hedge strategy trend of each risk. Efficient management and monitoring of risks in the overall lifecycle of a construction project is expected to result in a successful project outcome.
| Original language | English |
|---|---|
| Title of host publication | Advances in Civil Engineering and Building Materials IV - Selected and Peer Reviewed Papers from the 2014 4th International Conference on Civil Engineering and Building Materials, CEBM 2014 |
| Editors | Adel Abdulmajeed M. Husain, Shuenn-Yih Chang, Suad Khalid Al Bahar, Jingying Zhao |
| Publisher | CRC Press/Balkema |
| Pages | 309-314 |
| Number of pages | 6 |
| ISBN (Print) | 9781138000889 |
| Publication status | Published - 2015 Jan 1 |
| Event | 4th International Conference on Civil Engineering and Building Materials, CEBM 2014 - Hong Kong, China Duration: 2014 Nov 15 → 2014 Nov 16 |
Publication series
| Name | Advances in Civil Engineering and Building Materials IV - Selected and Peer Reviewed Papers from the 2014 4th International Conference on Civil Engineering and Building Materials, CEBM 2014 |
|---|
Other
| Other | 4th International Conference on Civil Engineering and Building Materials, CEBM 2014 |
|---|---|
| Country | China |
| City | Hong Kong |
| Period | 14/11/15 → 14/11/16 |
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All Science Journal Classification (ASJC) codes
- Civil and Structural Engineering
Cite this
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A risk assessment and monitoring system using a total risk index. / Lee, Jung Ki; Lee, Kang Wook; Lee, Yeonho; Han, Seung Heon.
Advances in Civil Engineering and Building Materials IV - Selected and Peer Reviewed Papers from the 2014 4th International Conference on Civil Engineering and Building Materials, CEBM 2014. ed. / Adel Abdulmajeed M. Husain; Shuenn-Yih Chang; Suad Khalid Al Bahar; Jingying Zhao. CRC Press/Balkema, 2015. p. 309-314 (Advances in Civil Engineering and Building Materials IV - Selected and Peer Reviewed Papers from the 2014 4th International Conference on Civil Engineering and Building Materials, CEBM 2014).Research output: Chapter in Book/Report/Conference proceeding › Conference contribution
TY - GEN
T1 - A risk assessment and monitoring system using a total risk index
AU - Lee, Jung Ki
AU - Lee, Kang Wook
AU - Lee, Yeonho
AU - Han, Seung Heon
PY - 2015/1/1
Y1 - 2015/1/1
N2 - Due to the high uncertainties incorporated in performing international construction projects, a risk-based intelligent agent system with a risk assessment and monitoring module is developed to support the practitioners in managing the overall construction life cycle. The assessment of the risks are demonstrated through the Total Risk Index (TRI),which consists of the Analytic Hierarchy Process (AHP) for relative importance within each risk category and risk quantification method, in selecting the level of probability, impact, and the significance of the individual risk factors. Through the derived result of the TRI, the different phases of a construction project can be monitored, as well as deriving the risk factors that are to be managed in priority. Furthermore, in-depth survey databases of previous construction projects are supported to present the management guideline and the hedge strategy trend of each risk. Efficient management and monitoring of risks in the overall lifecycle of a construction project is expected to result in a successful project outcome.
AB - Due to the high uncertainties incorporated in performing international construction projects, a risk-based intelligent agent system with a risk assessment and monitoring module is developed to support the practitioners in managing the overall construction life cycle. The assessment of the risks are demonstrated through the Total Risk Index (TRI),which consists of the Analytic Hierarchy Process (AHP) for relative importance within each risk category and risk quantification method, in selecting the level of probability, impact, and the significance of the individual risk factors. Through the derived result of the TRI, the different phases of a construction project can be monitored, as well as deriving the risk factors that are to be managed in priority. Furthermore, in-depth survey databases of previous construction projects are supported to present the management guideline and the hedge strategy trend of each risk. Efficient management and monitoring of risks in the overall lifecycle of a construction project is expected to result in a successful project outcome.
UR - http://www.scopus.com/inward/record.url?scp=84960119359&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84960119359&partnerID=8YFLogxK
M3 - Conference contribution
AN - SCOPUS:84960119359
SN - 9781138000889
T3 - Advances in Civil Engineering and Building Materials IV - Selected and Peer Reviewed Papers from the 2014 4th International Conference on Civil Engineering and Building Materials, CEBM 2014
SP - 309
EP - 314
BT - Advances in Civil Engineering and Building Materials IV - Selected and Peer Reviewed Papers from the 2014 4th International Conference on Civil Engineering and Building Materials, CEBM 2014
A2 - Husain, Adel Abdulmajeed M.
A2 - Chang, Shuenn-Yih
A2 - Bahar, Suad Khalid Al
A2 - Zhao, Jingying
PB - CRC Press/Balkema
ER -