A Risk Based Asset Management Decision Support System for International Construction Joint Ventures Design Build Projects

摘要

Several International Construction Joint Ventures (ICJVs) have failed achieving time, cost and quality targets because of lack of an appropriate risk assessment methodology. This paper focuses on the analysis of the different ICJV risk environments. The related risks are analyzed into country, operating, sociopolitical and financial risks. Risk factors are then identified and grouped into internal, project specific, schedules, and major contract clauses risks. A simplified decision support system (RAMSCO) is proposed that compiles 126 risk factors and breaks down project risks into discrete phases systematically. At each completion phase of the project, there is a decision point where the up-date risk assessment can be reviewed and forth-coming actions can be identified giving the user a decision milestone whether to proceed to the next phase or not. RAMSCO directs users through indices to minimize ICJV failure chances and evaluates the project's overall risk based on factor weighted ratings obtained from published researches. Based on the project's risk factors, users can decide regarding risk acceptance, mitigation, or project avoidance. Two case studies are used to demonstrate RAMSCO's potential value.