Decision Making in Risk Management : Quantifying Intangible Risk Factors in Projects book cover
1st Edition

Decision Making in Risk Management
Quantifying Intangible Risk Factors in Projects

ISBN 9780367767457
Published August 12, 2021 by CRC Press
115 Pages 25 B/W Illustrations

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Book Description

Project risk management is regarded as a necessary dimension of effective project delivery. Current practices tend to focus on tangible issues such as late delivery of equipment or the implications of technology. This book introduces a framework to identify emergent behavior-centric intangible risks and the conditions that initiate them.

Decision Making in Risk Management: Quantifying Intangible Risk Factors in Projects identifies the quantitative measures to assess behavior-induced risks by presenting a framework that limits the interpersonal tension of addressing behavioral risks. Included in the book is an illustrative case study from the oil and gas sector that demonstrates the use of the framework. The missing dimension of behavior-centric intangible risk factors in current risk identification is explored. The book goes on to cover management processes, providing a systematic analytical approach to mitigate subjectivity when addressing behavioral risks in projects.

This book is useful to those working in the fields of Project Management, Systems Engineering, Risk Management, and Behavioral Science.

Table of Contents

1. Introduction. 2. Setting the Context. 3. Systems, Networks, and Metanetwork Analysis. 4. Intangible Risk Assessment Methodology for Projects. 5. Metanetwork Analysis and Measures. 6. Putting It All Together. 7. Conclusions and Looking Forward.

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Christopher O. Cox, Ph.D., P.E. will be joining the faculty of the Kimmel School of Construction Management at Western Carolina University after 38 years in the oil and gas industry in August 2021. During his industry career he has held roles in engineering design, corporate planning and strategy, production operations, and project management. While having worked on projects in multiple countries he has lived in the Middle East, North Africa, Australia and the United States. He is a licensed Professional Engineer and is a member of ASCE and ASEE. Mr. Cox received his Ph.D. from Texas A&M University in College Station, Texas.