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Towards a better modelling and assessment of construction risk: Insights from a literature review
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The literature still does not contain references that use data obtained in a qualitative analysis (probability and impact of each identified risk) to perform a quantitative risk analysis integrated into the project model.
“Although Monte Carlo simulation is widely used in project risk assessments (Tong et al. 2018;Taroun, 2014), as far as we know, the literature still does not contain references that use the data obtained in a qualitative analysis (data related to the probability and impact of each identified risk) to perform a quantitative risk analysis integrated into the project model.”
From Beyond probability-impact matrices in project risk management: A quantitative methodology for risk prioritisation (2024) · cites this paper as Taroun, 2014
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Metadata
- Authors
- Taroun, A.
- Affiliations
- University of Bedfordshire (GB)
- Corresponding author
- Taroun, Abdulmaten
- Venue
- International Journal of Project Management
- Publisher
- Elsevier BV
- Published
- 2014-01
- Volume
- 32
- Issue
- 1
- Pages
- 101-115
- ISSN
- 0263-7863 (ISSN-L)
- OpenAlex
- W2043898642
- Cited by
- 387
- References
- 0
- Citations by year
- 2026: 29 · 2025: 20 · 2024: 36 · 2023: 30 · 2022: 46 · 2021: 44 · 2020: 38 · 2019: 40 · 2018: 27 · 2017: 22 · 2016: 22 · 2015: 22 · 2014: 11
- FWCI
- 23.43
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- International Journal of Project Management (publishedVersion)
- Worcester Research and Publications (University of Worcester) (submittedVersion)
- Topics
- Social Sciences › Decision Sciences › Management Science and Operations Research › Construction Project Management and Performance
- Social Sciences › Economics, Econometrics and Finance › Finance › Capital Investment and Risk Analysis
- Physical Sciences › Engineering › Building and Construction › BIM and Construction Integration
- Keywords
- construction risk, risk assessment, risk modeling, probability-impact matrix, risk perception, risk aggregation, risk cost, project objectives, professional experience, construction projects
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