In some of the risk categories, such as the forecast risk, where the authors highlight the issues of the bullwhip effect, one may argue whether this could be considered as operational uncertainty and could be managed with correctly operating supply chain. We note that in operations management literature, the terms ‘uncertainty’ and ‘risk’ have been used interchangeably. Supply risk usually refers to the occurrence of uncertainties that may halt the inward flow of the supply
Based on the point of view of a quantity surveyor, poorly conducted site investigation and materials shortage can affect changes of a project. Site investigation is critical as it impacts the decision to select a suitable design and structure for the proposed building. Failure can lead to a lot of problems in later stages. Materials are also important in construction, so proper management and planning must be conducted. According to the point of view of a contractor, unforeseen condition must also be taken into account as one of the factors of variation orders.
Risk is regard as the one of the factors affecting on business. The standard ISO 31000 has defined risk as “effect of uncertainty on objectives”, referring the consequence in both negative and/or positive sides (ISO 9001:2015). Therefore, risk is possible to derive from various unpredictable sources. In order to analysis and treat different type of risk, ISO guide 73 has divided risk into three following categories: • Hazard (or pure) risks; • Control (or uncertainty) risks; • Opportunity (or speculative) risks An organization is considered to be with the possibility to face those three kinds of risks. It is obviously different type of risk can result in varying outputs.
This leads to the following problem statement: AHP is misused in complex systems where participants have different agendas and assign different weights/perspectives to different sections. The focus of the problem is on the part where a group seeks an outcome that represents the input as provided by all participants. The identified problem arises when the environment of application is complex and multiple actors are involved. When the method is not used in a proper way, misleading outcomes can be perceived which can have far reaching consequences. Therefore, in the current situation, when AHP is applied in complex multi actor environment, the outcome will be an unsuccessful process.
Every activity in the project have different cost estimates and timelines to complete the other also by type of work. Activities that have a substantial risk will affect the work of other activities. According wiguna (2005) if they do not address the problem wisely it can affect the performance of a project, such as cost overruns, poor quality and schedule delays. Each project has different levels and combinations of risk and adopts different strategies to reduce them because of its unique and dynamic project. With regard to the complexity of the structure, for example, three main characteristics that are considered by the size or number, diversity and interdependence.
Project-related uncertainties: it includes the condition of location, changes in the contract, dynamic durations for activities, unexpected costs, uneven technical complexities, and resources availability and limitations. 2. Organization-related uncertainties: different project stages require different techniques and skills related with different contributors and resources. Participants of project may vary through the construction process. 3.
Here the case study is concerned with one aspect of the safety process for MSS, specifically risk analysis. It’s an important process, unfortunately performing risk analysis on MSS is not that easy. There are problems faced in MSS risk analysis, then we see possible solution. The following problems occurs during the analysis of MSS. According to some authors Condition of an MSS configuration that can lead to an accident is defined as MSS risk.
The challenges are related to time, cost, quality, productivity and disputes among the parties involved especially in consultant’s side also included (Halwatura and Ranasinghe, 2013). The challenges if not being resolved it will disturb the consultant’s works thus effect the project performance. As mention by Richard (2016) one of the best method to manage variation order is by identifying the challenges and prevent the negative consequences. Therefore this research explore regarding management of variation order by consultant, in perspective of the challenges and strategies according to the process of variation order’s
Risk identification is the process of determining risks that could potentially prevent the program, enterprise, or investment from achieving its objectives. It includes documenting and communicating the concern. Risk identification is an iterative process because new risks may become known as the project progresses through its life cycle, previously‐identified risks may drop out, and other risks may be updated. The objective of risk identification is the early and continuous identification of events that, if they occur, will have negative impacts on the project's ability to achieve performance or capability outcome goals. They may come from within the project or from external sources.
The construction industry has been heavily criticized for its failure due to cost over runs, delay and unfulfilled project objectives. Therefore, it is important to study about factors that resulted in success or failure of a project and apply project management techniques to