Risk management for engineering projects : procedures, methods and tools / Nolberto Munier.

Includes bibliographical references and index.

Principles And Elements Of Risk Management : Data And Initial Conditions -- Planning -- Probabilities In Risk Management -- Risk Identification -- Risk Assessment And Analysis -- Sensitivity Analysis -- Project During Execution -- Strategy - Updating -- Closing And Reporting -- Brief Introduction To Probability Distributions.

Many people see risk in engineering projects as an imprecise and nebulous problem - something that exists, is feared and is impossible to deal with. Nothing could be further from the truth. While risk is certainly ubiquitous, sometimes difficult to detect, and cannot always be completely avoided, it can generally be mitigated, reduced or prevented through timely analysis and action. This book covers the entire process of risk management byproviding methodologies for determining the sources of project risk, and once threats have been identified, managing them through: {u0A64}entification and assessment(probability, relative importance, variables, risk breakdown structure, etc.) {u0A6D}plementation of measures for their prevention, reduction or mitigation {u0976}aluation of impacts and quantification of risks {u0973}tablishment of control measures It also considers sensitivity analysis to determine the influence of uncertain parameters values on different project results, such as completion time, total costs, Internal Rate of Return, etc. Numerous case studies, applied examples and simulations across a wide spectrum of engineering projects highlight such diverse factors as: {u0C32}oject safety {u096E}vironmental impacts {u0CEF}cietal reactions {u0D29}me and cost overruns {u0C32}oject quality {u0B25}gal issues {u0963}onomic and financial considerations {u0C2F}litical risk The text is written in a down-to-earth style that demystifies the concepts, thereby enabling the reader to grasp the fundamentals of managing risk. The author, a consulting engineer with over 30 years of experience in diverse international projects, has written over 20 books on engineering practice and brings a wealth of practical knowledge to the reader. Thistext will be indispensible for undergraduatesand graduateslooking for practical, grassroots-level information on how to deal with uncertainties and manage risk, and for professionals active in engineering project management.

Description based on online resource; title from PDF title page (SpringerLink, viewed May 9, 2014).