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FAHP-Based Decision Making Framework for Construction Projects
Published in Ali Emrouznejad, William Ho, Fuzzy Analytic Hierarchy Process, 2017
The overall complexity of a project can be measured by the CL, ranging from 0 to 10, where the higher value of CL shows higher project complexity. CL is determined as in Equation 14.12: CL=∑i=16∑j=1J(wij×kij)where J is the number of the subcriteria within a criterion. With α-cut = 0.5 and λ = 0.5, the CLs for Projects 1, 2, and 3 are 7.47, 5.81, and 3.72, respectively, on a scale 0–10.
Setting the Scene for Opportunity Management
Published in David Hillson, Capturing Upside Risk, 2019
The answers to these and other questions will vary, depending on the nature of our project. The risk management approach we should adopt for a large and complex megaproject that makes a vital contribution to corporate strategy will be very different from the approach we might take for managing risk on a small simple project. This need for scalability and tailoring must be addressed before we start identifying, assessing, or responding to risks. Key factors to be considered include project size, project complexity, and the strategic importance of the project. This is why the risk process has a separate step before risk identification.
Dissecting the project anatomy: Understanding the cost of managing construction projects
Published in Production Planning & Control, 2023
Haavard Haaskjold, Bjørn Andersen, Jan Alexander Langlo
In Table 4 we present how the size of the project head correlates with the following four project characteristics: complexity, cost, duration and burn rate. Project complexity is calculated as a common factor based on how project members rated the complexity of their project in terms of each of the following aspects: Size, schedule, contract strategy, diversity of project team, technology risks, process scope, supply chain reliability, external stakeholders, traffic control, location, work zone congestion. The second characteristic is total project cost measured in million USD. This number includes the total cost of conducting the project through all its phases and includes the contribution from all contractors, subcontractors, consultants, etc. The third characteristic we apply is the total project duration. This is reported in number of weeks it took from the start of the concept phase until the execution phase was finished. A fourth parameter is the project’s burn rate. This parameter combines the total cost and the total duration and tells us something about the intensity of the project. The burn rate is simply calculated as total cost divided by total duration (Yun et al. 2016) and is reported in terms of USD million per week.
Developing a logistic regression model to measure project complexity
Published in Architectural Engineering and Design Management, 2020
Bac Dao, Sharareh Kermanshachi, Jennifer Shane, Stuart Anderson, Ivan Damnjanovic
Project complexity often refers to a measurement of the number of elements and interfaces or a relative comparison of difficulty to what an organization had previously accomplished. Complexity typically presents additional management challenges to achieving project objectives References to low project complexity or high project complexity are commonplace across all industry sectors. However, most references to low or high complexity are often made by intuition and may represent a relative assessment of complexity by comparison to other types of projects or similar projects within an industry sector (Dao, Kermanshachi, Shane, Anderson, & Hare, 2016). There is no single, nor standard definition for project complexity that can be applied to all project cases; furthermore, there is no single depiction or understanding of project complexity, what it means, and how to measure it. Mueller, Graefenstein, Scholz, and Henke (2019) found complexity as a factor that helps determine planning and control practices, hinders the identification of goals and objectives, or a factor that influences time, cost, and quality of a project. Most complexity studies focus on the theoretical background of the topic and describe a broad definition of project complexity.
A Scoring Model to Evaluate Offshore Oil Projects
Published in Engineering Management Journal, 2022
Abdulhakim Giadedi, Tugrul U. Daim
Complexity of offshore oil projects is one of the other important challenging factors that affects the evaluation and control of these types of projects and makes them difficult to understand. Based on their size and complexity, offshore oil projects can be referred to as multibillion-dollar projects or megaprojects (Rui et al., 2017; Doherty & Systemes, 2011). Project managers need to assess and evaluate project complexity to ensure efficient decision-making and attainment of project goals.