Project risk management is a management technique of identifying, analyzing and responding latent risk factors in project life cycle. To date, the importance of risk management has been overlooked in the Korean construction industry. The industry's pr...
Project risk management is a management technique of identifying, analyzing and responding latent risk factors in project life cycle. To date, the importance of risk management has been overlooked in the Korean construction industry. The industry's practice of risk management are limited to and concentrated on the construction stage, which cannot propely assess potential risk factors during the project life cycle. Moreover, the research and systematic development efforts on the subject have been very few in the industry. The Purpose of this study is to improve current construction scheduling practices by providing as probabilistic scheduling model that can be utilized during early construction stage.