Risk Response in Construction Project: A Review Study

Construction projects are characterized as projects with multi phases and activities, complex, unique, and have many different parties and stakeholders. Risks could appear at one or more of the construction project stages and may affect the achievement of project objectives. Therefore, one of the key elements in the planning phase of any project is the risk management process (RMP). This study attempts to understand the terminology of risk in general, risk management, and response to risk in particular. This study is mainly a review of thirty-eight studies that have been published between 1997 and 2020 that demonstrate the importance of the crucial phase of risk response from the risk management process and its impact on the project objectives, as well as the tools and methodologies that project managers and decision-makers could use to handle the risks to reduce the negative effects of risks on the success of the construction projects. This study concludes that risk response should be considered an essential activity to complete the RMP, which will lead to minimizing the losses due to risks, maximizing the benefits due to opportunities, and achieving the objectives of projects.

Assessment of Spatial Data Infrastructure from Risk Perspective

This research presents an operational framework to assess organizational Spatial Data Infrastructures (SDIs) from a risk perspective to develop a stable SDI. The core of the framework is constructed based on a survey, fuzzy inference system and cluster analysis, providing quantitative indicators to measure and prioritize the risks to SDI. This framework could mainly contribute to identifying, mitigating or avoiding the potential risks of different aspects of an SDI, such as spatial data and information, organizational and technological aspects. Additionally, it could be considered as an approach that supports multi-view SDI assessment framework toward a more comprehensive assessment of SDIs. A prototype implementation to assess and prioritize the risks of the spatial data and information demonstrates the framework merit, flexibility and usability for assessing the risks of SDI initiatives at different levels, such as organizational, local and national levels; however, the risks and SDIs change over time; thus, the development of stable SDI initiatives depends on a continuous process for coping with the risks

New algorithms for optimal reduction of technical risk

The article features exact algorithms for reduction of technical risk by (1) optimal allocation of resources in the case where the total potential loss from several sources of risk is a sum of the potential losses from the individual sources; (2) optimal allocation of resources to achieve a maximum reduction of system failure; and (3) making an optimal choice among competing risky prospects. The article demonstrates that the number of activities in a risky prospect is a key consideration in selecting the risky prospect. As a result, the maximum expected profit criterion, widely used for making risk decisions, is fundamentally flawed, because it does not consider the impact of the number of risk-reward activities in the risky prospects. A popular view, that if a single risk-reward bet with positive expected profit is unacceptable then a sequence of such identical risk-reward bets is also unacceptable, has been analysed and proved incorrect

QUANTITATIVE RISK ANALYSIS FOR FIRE IN URBAN ROAD TUNNELS

Ph.DDOCTOR OF PHILOSOPH

Kaynaklara dayalı yaklaşımın disipliner temelleri

06.03.2018 tarihli ve 30352 sayılı Resmi Gazetede yayımlanan “Yükseköğretim Kanunu İle Bazı Kanun Ve Kanun Hükmünde Kararnamelerde Değişiklik Yapılması Hakkında Kanun” ile 18.06.2018 tarihli “Lisansüstü Tezlerin Elektronik Ortamda Toplanması, Düzenlenmesi ve Erişime Açılmasına İlişkin Yönerge” gereğince tam metin erişime açılmıştır.Stratejik yönetimin hâkim yaklaşımı kabul edilen kaynaklara dayalı yaklaşım, sürdürülebilir rekabet avantajı olgusunu açıklamak için ortaya çıkışından bu yana farklı disiplinlerden faydalanmıştır. Bu çalışma ekonomi, sosyoloji ve psikoloji disiplinlerinin Kaynaklara Dayalı Yaklaşıma katkılarını incelemektedir. Bu katkılara ek olarak, kaynaklara dayalı yaklaşımın yararlanabileceği yeni teorik çerçevelerle ilgili öneriler yapılmıştır. Kaynaklara dayalı yaklaşım ontolojik, epistemolojik ve metodolojik açıdan statik ve dinamik olarak ikiye ayrılmıştır. Ekonomi, sosyoloji ve psikoloji disiplinlerinin Kaynaklara Dayalı Yaklaşıma katkılarının belirlenmesinde bibliyometrik analiz ve doküman analizi kullanılmıştır. Kaynaklara dayalı yaklaşıma ait kavramların nasıl geliştikleri ve sürdürülebilir rekabet avantajı olgusunu açıkladıkları üçüncü, dördüncü ve beşinci bölümlerde tartışılmıştır. Bu tartışmalar teorik tartışmalardır. Bu bölümlerde statik yaklaşımın kavramları ekonomi, sosyoloji ve psikoloji disiplinlerindeki yapı yönelimli teorilerle, dinamik yaklaşımın kavramları bu disiplinlerdeki süreç yönelimli teorilerle ilişkilendirilmiştir. Altıncı bölümünde, kaynaklara dayalı yaklaşımın yararlanabileceği yeni teorik çerçeveler iki kısımda sunulmuştur. İlki, ilgili alan yazında son zamanlarda kaynaklara dayalı yaklaşımın yararlandığı teorik çerçevelerdir. İkincisi ise kaynaklara dayalı yaklaşım yazınında hiç kullanılmamış teorik çerçevelerdir. İlk kısımdaki teorik çerçevelerin kapsamına firmanın büyüme teorisi, yeni kurumsal ekonomiler, gerçek seçim teorisi, kurumsal teori, yaratıcı eylem teorisi, geçişken bellek sistemi teorisi, amaç çerçeveleme teorisi ve düzenleyici odak teorisi girmektedir. İkinci kısımdaki teorik çerçevelerin kapsamında ise sosyal değişim teorisi, sosyal biliş teorisi ve etkileşimsel yaratıcılık yaklaşımı yer almaktadır.The resource based approach which is regarded as dominating approach of strategic management has benefited from varied disciplines in order to explain the phenomenon of sustainable competitive advantage since it emerged. This study examines the contributions of economics, sociology and psychology disciplines to the resource based approach. In addition to these contributions, suggestions for new theoretical frameworks from which the resource-based approach can benefit were made. The resource-based approach is divided into static and dynamic in terms of ontological, epistemological, and methodological aspects. Bibliometric analysis from and document analysis were used in determining contributions of economics, sociology, and psychology disciplines to the resource based approach. How the concepts of resource based approach developed and the phenomenon of sustainable competitive advantage explained were discussed in the third, fourth and fifth chapters. These discussions are theoretical. In these sections, concepts of static approach are related to the structure-oriented theories in economics, sociology and psychology disciplines, and the concepts of dynamic approach are related to the process-oriented theories in the disciplines. In the sixth section, new theoretical frameworks from which the resource-based approach can benefit are presented in two parts. The first one is the theoretical frameworks from which the resource based approach was benefited recently in the relevant literature. The second one is the theoretical frameworks that have never been benefited in the literature of the resource-based approach. The company's growth theory, new institutional economics, the theory of real choice, institutional theory, the theory of creative action, the theory of transitional memory system, the theory of goal framing and the regulatory focus theory, are included in the first part of the theoretical frameworks. In the second part of the theoretical frameworks; social change theory, social cognition theory and interactive creativity approach are included

Optimal Allocation of Risk-Reduction Resources in Event Trees

In this paper, we present a novel quantitative analysis for the strategic planning decision problem of allocating certain available prevention and protection resources to, respectively, reduce the failure probabilities of system safety measures and the total expected loss from a sequence of events. Using an event tree optimization approach, the resulting risk-reduction scenario problem is modeled and then reformulated as a specially structured nonconvex factorable program. We derive a tight linear programming relaxation along with related theoretical insights that serve to lay the foundation for designing a tailored branch-and-bound algorithm that is proven to converge to a global optimum. Computational experience is reported for a hypothetical case study, as well as for several realistic simulated test cases, based on different parameter settings. The results on the simulated test cases demonstrate that the proposed approach dominates the commercial software BARON v7.5 when the latter is applied to solve the original model by more robustly yielding provable optimal solutions that are at an average of 16.6% better in terms of objective function value; and it performs competitively when both models are used to solve the reformulated problem, particularly for larger test instances.risk management, risk reduction, event trees, system safety, global optimization, factorable programming, branch-and-bound