Title :
Accounting for risk interactions and using importance measures for risk prioritization in project management
Author :
Chao Fang ; Xun Xiao ; Xiaoyan Zhu
Author_Institution :
Dept. of Syst. Eng. & Eng. Manage., City Univ. of Hong Kong, Hong Kong, China
Abstract :
In this paper we present a method using importance measures for project risk prioritization. First, a simulation-based risk network model is used to account for risk interactions. Various measures are then proposed to assess the risks and risk interactions with respect to their influence on the defined global risk exposure. An example of application to a real musical staging project is presented.
Keywords :
project management; risk management; musical staging project; project management; project risk prioritization; risk interactions; simulation-based risk network model; Complexity theory; Frequency measurement; Project management; Rail to rail inputs; Risk management; Safety; Complexity; decision support; importance measures; project management; risk prioritization;
Conference_Titel :
Industrial Engineering and Engineering Management (IEEM), 2012 IEEE International Conference on
Conference_Location :
Hong Kong
DOI :
10.1109/IEEM.2012.6838096
