Risk Management in Engineering and Construction: Tools and Techniques (Spon Research) - Hardcover

Hardcover

ISBN 10: 0415480175 ISBN 13: 9780415480178

Publisher: Routledge, 2019

Synopsis

Today’s businesses are driven by customer ‘pull’ and technological ‘push’. To remain competitive in this dynamic business world, engineering and construction organizations are constantly innovating with new technology tools and techniques to improve process performance in their projects. Their management challenge is to save time, reduce cost and increase quality and operational efficiency. Risk management has recently evolved as an effective method of managing both project and operations management. Risk is inherent in any project, as managers need to plan projects with minimal knowledge and information, but its management helps managers to become proactive rather than reactive. Hence, it not only increases the chance of project achievement, but also helps ensure better performance throughout its operations phase.

Various qualitative and quantitative tools are routinely deployed by practitioners and researchers for managing risk and have reported extensively over the past decade. These have tremendous potential for wider application. Yet the current literature on both the theory and practice of risk management is widely scattered. Most of the books emphasise risk management theory but lack practical demonstrations and give little guidance on the application of those theories. This book showcases a number of effective applications of risk management tools and techniques across product and service life in a way useful for practitioners, graduate students and researchers. And it also provides an in depth understanding of the principles of risk management in engineering and construction.

About this title

About the Author

Stephen O Ogunlana is a professor at Heriot-Watt University, Scotland. He is a joint-coordinator of W107, CIB’s working commission on Construction in Developing Economies, and the editor of Profitable Partnering for Construction Procurement, also published by Taylor and Francis.

Prasanta Kumar Dey is a senior lecturer in Aston Business School, Birmingham, UK. Previously he worked in Indian Oil Corporation as a project executive.

Edition details

• Publisher: Routledge
• Publication date: 2019
• ISBN 10: 0415480175
• ISBN 13: 9780415480178
• Binding: Hardcover
• Language: English
• Edition number: 1
• Number of pages: 458
• Editor: Ogunlana Stephen, Dey Prasanta Kumar