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 cycle.
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