Understanding and Managing Risks in Large Engineering Projects
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Publication
2023 - Creative Media Partners, LLC
Language
English
Word Count
4,250 words, Guess
Page Count
17 pages
Identifiers
- ISBN-139781021227430
- ISBN-101021227439
- Better World Books9781021227430
- Open LibraryOL50856761M
Description
Large engineering projects are high-stakes games characterized by substantial irreversible commitments, skewed reward structures in case of success, and high probabilities of failure. Drawing on 60 real life projects, this article shows that successful projects are not selected but shaped with risk resolution in mind. Rather than evaluating projects at the outset based on projections of the full sets of benefits, costs and risks over their lifetime, successful sponsors start with project ideas that have the possibility of becoming viable. Successful sponsors then embark on shaping efforts to influence risk drivers. Keywords: Risk Management, Project Finance, Institutional Strategy, Governance.
Subjects
Other Editions
- Understanding and Managing Risks in Large Engineering Projects
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