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Chances and Risks in Construction Management and Economics = A Systemic Approach to Dealing with Models and Uncertainties /

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Chances and Risks in Construction Management and Economics/ by Christian Hofstadler, Markus Kummer.
Reminder of title:	A Systemic Approach to Dealing with Models and Uncertainties /
Author:	Hofstadler, Christian.
other author:	Kummer, Markus.
Description:	XXXII, 696 p. 420 illus., 411 illus. in color.online resource. :
Contained By:	Springer Nature eBook
Subject:	Building—Superintendence. -
Online resource:	https://doi.org/10.1007/978-3-030-64014-9
ISBN:	9783030640149

Chances and Risks in Construction Management and Economics = A Systemic Approach to Dealing with Models and Uncertainties /
Hofstadler, Christian.

Chances and Risks in Construction Management and EconomicsA Systemic Approach to Dealing with Models and Uncertainties /[electronic resource] :by Christian Hofstadler, Markus Kummer. - 1st ed. 2021. - XXXII, 696 p. 420 illus., 411 illus. in color.online resource. - Springer Tracts in Civil Engineering ,2366-2603. - Springer Tracts in Civil Engineering ,.

Chapter 1: Introduction -- Chapter 2: Basics -- Chapter 3: Data, Information, Knowledge, and BIM -- Chapter 4: Management of Chances and Risks -- Chapter 5: Applying the Management of Chances and Risks to Project Phases -- Chapter 6: The Fundamentals of Monte Carlo Simulations -- Chapter 7: Application of Monte Carlo Simulations -- Chapter 8: Influence of Project Lead Time and Construction Time on Project Targets -- Chapter 9: Worked Examples – Client -- Chapter 10: Worked Examples – Contractor.

The book outlines the processes of calculating and critically reviewing construction costs and times for clients and contractors in different project phases. Any project or structural analysis should yield accurate information on times, costs, and prices. The related database is more or less uncertain depending on project complexity and the circumstances of work performance. It is thus recommended to use ranges of key input parameters. This approach consistently considers uncertainties within a holistic project view, thus enhancing the plausibility and validity of specific values. Only the integration of probabilistic methods will allow for calculating and graphically representing the chance/risk ratio as a crucial project variable ultimately influencing the entire business.This book examines the systemic modeling and consideration of uncertainties when determining construction costs and times, and life-cycle costs. It contains detailed descriptions of other decision-making processes, including project preparation and planning (developer calculation, soil survey, cost estimate), work preparation (costing, pricing, construction time evaluation, resource identification, comparison of construction methods, bid analysis, contract award), and project execution (site logistics, construction method selection, construction process planning, work coordination, sourcing, determination of additional costs, trend analyses), as well as for project portfolio management as a tool relevant to all phases.

ISBN: 9783030640149

Standard No.: 10.1007/978-3-030-64014-9doiSubjects--Topical Terms:

1254752
Building—Superintendence.

LC Class. No.: TH438

Dewey Class. No.: 624

Chances and Risks in Construction Management and Economics = A Systemic Approach to Dealing with Models and Uncertainties /
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