A DATA-DRIVEN APPROACH TO IDENTIFY-QUANTIFY-ANALYSE CONSTRUCTION RISK FOR HONG KONG NEC PROJECTS | Zendy

Ming-Fung Francis Siu | Zendy; Wing-Yan Jacqueline Leung | Zendy; Daniel W.M. Chan | Zendy

AI Assistant Blog Pricing

Home ZAIA Blog

Open Access

A DATA-DRIVEN APPROACH TO IDENTIFY-QUANTIFY-ANALYSE CONSTRUCTION RISK FOR HONG KONG NEC PROJECTS

Author(s) -

Ming-Fung Francis Siu,

Wing-Yan Jacqueline Leung,

Daniel W.M. Chan

Publication year - 2018

Publication title -

journal of civil engineering and management

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.529

H-Index - 47

eISSN - 1822-3605

pISSN - 1392-3730

DOI - 10.3846/jcem.2018.6483

Subject(s) - risk analysis (engineering) , project risk management , context (archaeology) , fault tree analysis , risk management , risk assessment , engineering , workmanship , project management , computer science , operations research , operations management , business , project management triangle , reliability engineering , computer security , systems engineering , finance , geography , archaeology

Project risks must be managed to deliver construction projects on time and within budget. In recent years, the New Engineering Contract (NEC) provides an alternate contracting method for procuring construction projects. As stipulated in the NEC contract, NEC risk register must be used to record any project risks. The risk register is designed to record each risk item in the context of textual description, likelihood, and consequence. However, it is time-consuming to identify, quantify, and analyse NEC project risks based on experience, questionnaire, simulation, and data-mining approach. Any method to fully utilise the records of NEC risk registers of past projects for managing NEC project risks remains unexplored. As such, a data-driven approach is proposed to categorise common risks of NEC projects and to analyse risk rating of risk categories by combining the use of text mining analysis and decision tree analysis. A practical case study in Hong Kong is used to illustrate the method of application. Top four common types of NEC project risks, which are ground and utilities, design information, structures, and workmanship, were identified, quantified, and analysed. The new approach helps NEC project planners to identify, quantify, and analyse NEC project risks time-efficiently.

The content you want is available to Zendy users.

Already have an account? Click here to sign in.

Having issues? You can contact us here

Accelerating Research