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New Book Focuses On Risk-Related Decision Making In Construction
July 17, 2017

A new American Society of Civil Engineers (ASCE) Press book, Quantitative Risk Management and Decision Making in Construction, focuses on identifying, quantifying, and mitigating risks associated with construction projects. The author introduces valuable techniques for weighing and evaluating alternatives in decision making with a focus on risk analysis.

Readers are introduced to topics including probabilistic cost estimating, contingency analysis, cause-effect diagrams, FAST diagrams, and decision trees, as well as information on the available tools to quantify risks such as payoff matrices, Bayes’ theorem, matrix analysis, and analytical hierarchy process. In addition, the author shows how the information gained from analysis can be applied to mitigate risks using a risk analysis card game, monitoring performance, and managing inventory.

Intended for graduate and upper-level undergraduate students, each topic is accompanied by numerous examples, drawings, and exercises to illustrate and reinforce these concepts. In addition, the common techniques can be executed by business and construction managers for practical construction risk assessment.

To purchase online visit the ASCE Bookstore.

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