Modern Risk Quantification in Complex Projects (Hardcover)
Language: English
Published by Oxford University Press, Oxford, 2020
- Hardcover
- New
Seller: CitiRetail, Stevenage, United KingdomCitiRetail
AbeBooks seller since June 29, 2022
Condition: New
£ 146.99
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Hardcover. Project practitioners and decision makers complain that both parametric and Monte Carlo methods fail to produce accurate project duration and cost contingencies in majority of cases. Apparently, the referred methods have unacceptably high systematic errors as they miss out critically important components of project risk exposure. In the case of complex projects overlooked are the components associated with structural and delivery complexity.Modern Risk Quantification in Complex Projects: Non-linear Monte Carlo and System Dynamics Methodologies zeroes in on most crucial but systematically overlooked characteristics of complex projects. Anymismatches between two fundamental interacting subsystems - a project structure subsystem and a project delivery subsystem - result in non-linear interactions of project risks. Three kinds of the interactions are distinguished - internal risk amplifications stemming from long-term ('chronic') project system issues, knock-on interactions, and risk compounding.Affinities of interacting risks compose dynamic risk patterns supported by a project system. A methodology tofactor the patterns into Monte Carlo modelling referred to as non-linear Monte Carlo schedule and cost risk analysis (N-SCRA) is developed and demonstrated. It is capable to forecast project outcomes withhigh accuracy even in the case of most complex and difficult projects including notorious projects-outliers: it has a much lower systematic error.The power of project system dynamics is uncovered. It can be adopted as an accurate risk quantification methodology in complex projects. Results produced by the system dynamics and the non-linear Monte Carlo methodologies are well-aligned.All built Monte Carlo and system dynamics models are available onthe book's companion website. A modified non-linear Monte Carlo methodology is developed to dramatically increase the accuracy of contingency development in complex project. It is achieved through counting of non-linear risk interactions in complex projects consistently that have been completely missed out by the traditional methods. This item is printed on demand. Shipping may be from our UK warehouse or from our Australian or US warehouses, depending on stock availability.…
Seller Inventory # 9780198844334
- Title
- Modern Risk Quantification in Complex Projects (Hardcover)
- Author
- Yuri G. Raydugin
- Publisher
- Oxford University Press, Oxford
- Publication year
- 2020
- Condition
- new
- Binding
- Hardcover
- Language
- English
- ISBN 10
- 0198844336
- ISBN 13
- 9780198844334
Modern Risk Quantification in Complex Projects: Non-linear Monte Carlo and System Dynamics Methodologies zeroes in on most crucial but systematically overlooked characteristics of complex projects. Any mismatches between two fundamental interacting subsystems - a project structure subsystem and a project delivery subsystem - result in non-linear interactions of project risks. Three kinds of the interactions are distinguished - internal risk amplifications stemming from long-term ('chronic') project system issues, knock-on interactions, and risk compounding.
Affinities of interacting risks compose dynamic risk patterns supported by a project system. A methodology to factor the patterns into Monte Carlo modelling referred to as non-linear Monte Carlo schedule and cost risk analysis (N-SCRA) is developed and demonstrated. It is capable to forecast project outcomes with high accuracy even in the case of most complex and difficult projects including notorious projects-outliers: it has a much lower systematic error.
The power of project system dynamics is uncovered. It can be adopted as an accurate risk quantification methodology in complex projects. Results produced by the system dynamics and the non-linear Monte Carlo methodologies are well-aligned.
All built Monte Carlo and system dynamics models are available on the book's companion website.
"Synopsis" may belong to another edition of this title.
About the Author
Yuri has an engineering degree in nuclear physics from Urals Polytechnics Institute, Russia, a PhD in physics and mathematics from Russia's Academy of Sciences, and an MBA in business strategy from Henley Management College in England. He is a member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA) and Saudi Council of Engineers (SCE).
"About the title" may belong to another edition of this title.
CitiRetail
Stevenage, United Kingdom
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