Project Risk Simulation Under Uncertain Construction Duration

Topics:
Construction Services and Home Improvement
Tags:
Construction Duration,
Management,
Strategy
Source:
Institute for Operations Research and the Management Sciences

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Overview: This paper establishes a two-phase model to explore the financial risk of construction project under uncertain construction duration. An illustration of BOT project under uncertain construction duration was utilized for simulation. The simulation result was applied to reveal how uncertain construction duration affects project risk. The paper also shows how the standard deviation of the NPV increases whenever the variance of construction duration rises, thus accentuating the contingency of the project.

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Format: PDF | Size: 377KB | Date: Nov 2004 | Pages: 6

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