risk probability (P), and function of risk losses (u) (Titarenko1997). According to PMBOK (2013), risk is often referred to as the presence of potential or actual threats or opportunities that have an influence on the objective of
publication, A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Fourth Edition. When originally published, this material was geared toward the ernment environment. In the first edition, the effort was to reori- ent and edit the ernment material toward a more general ...
By this classification, objective risk is unique, substantive and physically measurable, and can be determined by quantitative risk assessment methods. According to Spaulding (2008), subjective risk is what an individual perceives to be a possible unwanted event; the degree of subjective risk depends...
Classification is a supervised learning problem in which the objective is a nominal class, whereas regression has a numeric goal. The classification problem is a well-known supervised learning issue. In this case, the learner must learn several input-output examples to align the vector with one ...
This study aims to provide answers to the following two questions: Research Question 1: Does the uncertainty in the pre-bid clarification document increase the bid average risk and bid range risk? Research Question 2: Does the parameter of uncertainty in bid documents improve the classification of...
beyond the control of the project management team. Internal risks can be divided according to the party who might be the originator of risk events such as stakeholders, designer, contractor, etc. There are various classification ways of risk management methods. External risks (environmental criteria...
To this end, this study proposed a standard risk classification with 191 standard risk factors from the perspectives of nation, industry, and business function throughout project life cycle for three different types of power-plants. It was based on an extensive literature review and expert interview...
Table 4. Classification of risks according to the nature of the assumption. Character Technical Financial Risk Classification According to the Nature of the Assumptions Incomplete Incoherent Unstable Supply and Replacements Maintenance Atmospheric phenomena Maintenance costs and Variability NPV Legislative ...
Classification of risks for international construction joint ventures (ICJV) projects. In Proceedings of the Construction Research Congress 2010: Innovation for Reshaping Construction Practice, Banff, AB, Canada, 8–10 May 2010; pp. 1254–1263. [Google Scholar] Bing, L.; Tiong, R.L. Risk ...
Razi and Hoseini conducted a study on clustering and classification in a production process and introduced a new method of FMEA by grouping failure modes using a KOHNEN neural network and SBM-DEA model to assess them within their classes [65]. In 2017, a study utilized a combination of ...