• Hardcover: 220 pages
• Publisher: Springer; 2014 edition (May 13, 2014)
• Language: English
• ISBN-10: 3319052500
  

Many people see risk in engineering projects as an imprecise and nebulous problem - something that exists, is feared and is impossible to deal with. Nothing could be further from the truth. While risk is certainly ubiquitous, sometimes difficult to detect, and cannot always be completely avoided, it can generally be mitigated, reduced or prevented through timely analysis and action.

This book covers the entire process of risk management by providing methodologies for determining the sources of project risk, and once threats have been identified, managing them through:

· identification and assessment (probability, relative importance, variables, risk breakdown structure, etc.)

· implementation of measures for their prevention, reduction or mitigation

· evaluation of impacts and quantification of risks

· establishment of control measures

It also considers sensitivity analysis to determine the influence of uncertain parameters values on different project results, such as completion time, total costs, Internal Rate of Return, etc.

Numerous case studies, applied examples and simulations across a wide spectrum of engineering projects highlight such diverse factors as:

· project safety

· environmental impacts

· societal reactions

· time and cost overruns

· project quality

· legal issues

· economic and financial considerations

· political risk