Quantitative risk management aids refinery construction
Combining the Analytic Hierarchy Process and decision tree analysis provides an effective means for controlling a complex project
Conventional project management techniques are not always
sufficient to ensure that schedule, cost and quality goals are
met on large-scale construction projects. These jobs require
complex planning, designing and implementation processes. The
main reasons for a project's nonachievement in India's hydrocarbon processing industry are
changes in scope and design, altered government policies and
regulations, unforeseen inflation, under and/or improper
estimation. Projects that are exposed to such an uncertain environment can be effectively
managed by applying risk management throughout the project life
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