Megaproject Risk Analysis and Simulation: A Dynamic Systems Approach

Prince Boateng
Robert Gordon University, UK

Zhen Chen
Heriot-Watt University, UK

Stephen O. Ogunlana
Heriot-Watt University, UK

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Product Details
28 Apr 2017
Emerald Publishing Limited
360 pages - 165 x 240mm
Providing new knowledge on risk analysis and simulation for megaprojects, this book is essential reading for both academics and practitioners. Its focus is on technical descriptions of a newly developed dynamic systems approach to megaproject risk analysis and simulation. This is backed up by a discussion of the methodology as applied in a comprehensive case study on the Edinburgh Tram Network (ETN) project. The book informs both academic researchers and megaproject stakeholders with the latest information on risk as applied to megaprojects. As well as the complete case study, the book includes a general risk analysis framework for megaprojects, an analytic network process (ANP) method for risk quantification, a system dynamics (SD) method for risk simulation, and practical guides for the application of the dynamic systems approach in megaproject research and practice.
1. Introduction 2. The Edinburgh Tram Network (ETN) Project 3. Megaproject Risks Assessment Framework 4. Megaproject Risk Quantification 5. Risk Simulation 6. Conclusions References Appendices Index
Prince Boateng, Koforidua Technical University, Koforidua, Ghana Zhen Chen, University of Strathclyde, Glasgow, UK Stephen O. Ogunlana, Heriot-Watt University, Edinburgh, UK
This volume outlines the technical details of a dynamic systems approach to megaproject risk analysis and simulation, based on the authors' long-term research into megaproject management, multi-criteria decision making, and system dynamics from 2010 to 2014. They offer a technical solution to overruns on cost and time in megaprojects, based on a comprehensive set of risks associated with social, technical, economic, environmental, and political issues in the megaproject environment and a dynamic systems approach called SDANP, an integrated use of tools including analytic network process (ANP) and system dynamics (SD) for risks prioritization and simulation. The model is described through a case study on the Edinburgh Tram Network project, along with a framework of qualitative risk analysis for megaprojects, megaproject risk quantification, and risk simulation.
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