CONTROLLING THE COST OF RISK MANAGEMENT BY UTILISING A PHASE PORTRAIT METHODOLOGY

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dc.contributor.authorEaton, David
dc.contributor.authorDikmen, Seyit Ümit
dc.contributor.authorAkbıyıklı, Rıfat
dc.date.accessioned2020-04-30T22:41:41Z
dc.date.available2020-04-30T22:41:41Z
dc.date.issued2018
dc.departmentDÜ, Teknoloji Fakültesi, İnşaat Mühendisliği Bölümüen_US
dc.descriptionWOS: 000428175400002en_US
dc.description.abstractThe methodology developed in this study presents an approach to the concurrent evaluation of Risk Management (RM) effectiveness during project execution. The method proposed is an adaptation of an approach developed and advocated by Khlebopros et al. (2007) for the mathematical modelling of complex systems, namely the analysis and effects of natural catastrophes. Hence, the method utilizes a phase portrait approach to identify the Prime Cost (PC) of RM of a project. Furthermore, the method provides an approach for comparing the individual identified risks with this PC, and subsequently highlighting a way of classifying and prioritising risks into a rank order for RM attention. The MERA (Multiple Estimating Risk Analysis) approach was utilized for the quantification of risk impact and ultimately the creation of the phase portrait. Besides being accurate and intuitively understandable, the methodology is relatively simple to implement and provides a rapid visualisation of the overall risk extent of a project.en_US
dc.identifier.doi10.3846/16484142.2016.1183228en_US
dc.identifier.endpage321en_US
dc.identifier.issn1648-4142
dc.identifier.issn1648-3480
dc.identifier.issue2en_US
dc.identifier.scopusqualityQ2en_US
dc.identifier.startpage315en_US
dc.identifier.urihttps://doi.org/10.3846/16484142.2016.1183228
dc.identifier.urihttps://hdl.handle.net/20.500.12684/3232
dc.identifier.volume33en_US
dc.identifier.wosWOS:000428175400002en_US
dc.identifier.wosqualityQ3en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherVilnius Gediminas Tech Univen_US
dc.relation.ispartofTransporten_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectrisk analysisen_US
dc.subjectrisk managementen_US
dc.subjectrisk monitoringen_US
dc.subjectproject managementen_US
dc.subjectconstruction industryen_US
dc.subjectcost controlen_US
dc.subjectphase portraitsen_US
dc.titleCONTROLLING THE COST OF RISK MANAGEMENT BY UTILISING A PHASE PORTRAIT METHODOLOGYen_US
dc.typeArticleen_US

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