Dynamic Risk Management System for Large Project Construction in China

Abstract

Risk assessment and risk management of large projects are essential for the quality and safety of civil engineering. A dynamic risk management system for large construction projects in China is proposed. The dynamic risk management system is composed of six main parts, which are event database, risk database, risk identification, risk assessment, risk pre-control, and risk tracking. The results of risk assessment can promote reasonable decision-making for risk tracking. The risk tracking is an essential part of risk management, which contains a process of site risk exploration, risk re-identification, risk treatment and formation of risk tracking report. By using the risk management system in large project construction, the key risk events we caring about are monitored and new risk events may be found. Then the new risk event will be assessed and the decision will be made whether monitoring or not. Through the dynamic risk management system, we can clearly know the real-time statement and developing trend of every risk events, and then can take some precaution and control measures to treat the risk events for the purpose of preventing the occurrence of risk events or reducing the risk to an acceptable level.