Chapters authored
Cognitive Factors and Risk Management of Concurrent Product Realisation
In projects of development and industrialization of new products or to improvement of the existing ones not only quality and costs but also the time of product entering the market and delivery time to the client are important. This can be achieved by efficient project management, where classic methods of project management need to be upgraded by elements of concurrent engineering. In this chapter, a method for risk management in cyclically recurrent projects is demonstrated, in which conventional models of risk management based on an assessment of probability of risk event occurrence and an assessment of their consequences are supplemented by a third parameter—assessment of frequency of recurrence of risk events. An important advantage of the suggested solution lies in that a project manager and team members take into account cognitive factors, when managing recurrence of risk events which are usually due to poorly organized business processes of a company. A template was created in the Microsoft Project environment, by means of which the project team tested the suggested methodology on an example of concurrent realization of a pedal assembly of a car.
Part of the book: Theory and Application on Cognitive Factors and Risk Management
Standard Risk Management Model for Infrastructure Projects
This paper outlines a risk management method that is based on the use of a standard risk management model and is adapted to the specific nature of infrastructure projects. The standard model can be used to identify and quantify unexpected events in planning and executing a project. The use of a risk map will also be illustrated. A risk map can serve to classify the identified and quantified risk events, depending on the expected loss, to critical risks that call for a more in-depth treatment, and non-critical risks that are normally not monitored, while no measures are foreseen in advance. A risk map is used to determine what the anticipated effects of the measures to mitigate the critical risks will be, and how the anticipated measures enable the transition from a critical risk to a non-critical risk. In this article, the suggested risk management is illustrated using the example of the erection of a reservoir for a hydroelectric power plant. The use of the proposed tools for the identification, assessment, prioritisation, and management of risks proved highly successful. With the use of the proposed risk model, the critical risk events were lowered under the acceptable level of the expected losses.
Part of the book: Risk Management in Construction Projects