A System Dynamics Model for Risk Analysis during Project Construction Process

Jiangping Wan, Yaqiong Liu

School of Business Administration, South China University of Technology, Guangzhou, China.

DOI: 10.4236/jss.2014.26052                

Abstract

Risk analysis is an important part for many large and medium-sized construction projects; mean-while the correct and reasonable project risk analysis can be conducive to risk management. Based on the results of the case study supplemented by a literature research, this paper presents an approach to develop a system dynamics model for risk analysis during project construction process. At first, this paper gives a brief description of risk factors project construction and system dynamics. The risks as well as the causal relationship diagram between them are determined in order to illustrate the risk interaction of the project construction with system dynamics model. A recapitulation of the findings and a prospect on future research conclude the paper.

Keywords

Project Construction, Risk Analysis, System Dynamics

Conflicts of Interest

The authors declare no conflicts of interest.

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