2023
DOI: 10.3390/infrastructures8040078
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Quantitative Risk Assessment Model and Optimization in Infrastructure Fast-Track Construction Projects

Abstract: The construction industry has extensively applied the fast-tracking approach to the demanding need for the fast delivery of infrastructure projects. However, the fast-track strategy might be threatened by distinctive risks or changes in risk characteristics that emerge when activities are overlapped (overlapping risks). This article proposes a risk assessment simulation model to quantify the economic impact of overlapping risks on fast-track infrastructure projects. The model uses Monte Carlo simulation and a … Show more

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Cited by 4 publications
(1 citation statement)
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“…Unlike crashing and substitution, which generally increase project costs directly, activity overlapping is thought to increase project risk due to increased potential for change (Ballesteros-Pérez, 2017). In general, rework is the most cited risk by prior studies (Garrido et al. , 2017).…”
Section: Problem Backgroundmentioning
confidence: 99%
“…Unlike crashing and substitution, which generally increase project costs directly, activity overlapping is thought to increase project risk due to increased potential for change (Ballesteros-Pérez, 2017). In general, rework is the most cited risk by prior studies (Garrido et al. , 2017).…”
Section: Problem Backgroundmentioning
confidence: 99%