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Mapping of synchronous activities through virtual management momentum simulation

Beran, W, Dlask, P and Eaton, D 2011, 'Mapping of synchronous activities through virtual management momentum simulation' , Journal of Construction Innovation, 11 (2) , pp. 190-211.

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Abstract

Purpose – This paper seeks to present an approach to the improvement of the risk analysis of construction projects by linking risk analysis to the potential variances in time and cost performance of endogenous variables. This link is synchronous, such that changes in either the cost or time schedule variables are uniquely modelled to the overall time and cost profile of a project. Design/methodology/approach – The presented approach is based on synchronous time and cost scheduling, simulation and the methodology presented here develops technical indicators on the basis of virtual management momentum (VMM). Findings – The paper shows a potential improvement to management decision making by the use of VMM. Senior management can test alternative strategies and develop probability matrices defining the potential results. Research limitations/implications – The current model simulates the impact of endogenous risks, and therefore by implication excludes all exogenous risks. This limitation can be removed by the introduction of other risk vectors, but is beyond the scope of the current research. Originality/value – The mapping technique utilised to display these changes makes the appreciation of such impacts visually simple and is extremely effective in improving the management of endogenous project risk.

Item Type: Article
Uncontrolled Keywords: Risk analysis, risk assessment
Themes: Built and Human Environment
Schools: Colleges and Schools > College of Science & Technology
Colleges and Schools > College of Science & Technology > School of the Built Environment
Colleges and Schools > College of Science & Technology > School of the Built Environment > Management in Construction Research Centre (MIC)
Journal or Publication Title: Journal of Construction Innovation
Publisher: Emerald
Refereed: Yes
ISSN: 1471-4175
Related URLs:
Depositing User: Professor David Eaton
Date Deposited: 11 May 2011 12:21
Last Modified: 07 Jul 2014 10:54
URI: http://usir.salford.ac.uk/id/eprint/15754

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