In the real world, risk and uncertainty are two natural properties in the implementation of Mega projects. Most projects fail to achieve the pre-determined objectives due to uncertainty. A linear integer programming optimization model was used in this work to solve a problem in order to choose the most appropriate risk responses for the project risks. A mathematical model, in which work structu...

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Uncertainty is one of the major inherent difficulties in developing innovative products, due to their highly dynamic markets and technologies. The presence of a large degree of uncertainty leads to high R&D risks, resulting in many R&D failures. Therefore, it is important to manage R&D risks through all R&D stages to improve R&D project success rates. This paper proposes a new risk management f...

A major source of risk in project management is inaccurate forecasts of project costs, demand, and other impacts. The paper presents a promising new approach to mitigating such risk based on theories of decision-making under uncertainty, which won the 2002 Nobel Prize in economics. First, the paper documents inaccuracy and risk in project management. Second, it explains inaccuracy in terms of o...

The author describes an expert-system tool that can be used to analyze patterns of cost-driver ratings submitted for a Cocomo cost estimate. These results help users determine and rank associated sources of project risk. ood software risk management requires human judgment, and is often difficult to implement because of the scarcity of seasoned experts and the unique characteristics of individu...

Risk handling is one of the elements and essential parts risk management when properly incorporated into a project. However, there inadequate knowledge amongst contractual parties on responsibilities in road projects, particularly Sub-Saharan African developing countries. This study aimed at bridging that gap by investigating perceptions contractors consultants projects Tanzania. The primary da...

In this paper. the basic framework and algorithms of a decision support system are discussed. which enhance process and capacity planning at a large repair shop. The research is strongly motivated by experiences in a project carried out at a dockyard, which performs repair, overhaul and modification programs for various classes of navy ships. We outline the basic requirements placed upon order ...

Service level agreements (SLAs) are powerful instruments for describing all obligations and expectations in a business relationship. It is of focal importance for deploying Grid technology to commercial applications. The EC-funded project HPC4U (Highly Predictable Clusters for Internet Grids) aimed at introducing SLA-awareness in local resource management systems, while the EC-funded project As...