Proposing a Risk Management Model in Construction of Combined-Cycle Power Plant Projects

Shakib Zohrehvandi, Alexandra Tenera

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Companies are increasingly focusing on identifying risks and managing them even before they affect project executing. Risk management can play a key part in identifying problems and taking preventive measures in this regard. This research focused on risk management in the implementation of a combined cycle power plant project. This paper aims at exploring the role of risks and risk management practices in construction of this type of projects by considering how they can impact the project’s time, quality, and cost. First, the project risk types were identified. The extent to which the project’s objectives were achieved was then considered on the basis of three criteria: time, cost, and quality. Next, the risks were categorized and prioritized through a risk breakdown structure. The obtained results revealed the most influential risks in the project. Finally, the proposed risk management model was used in the project which led to strengthening the performance impact of risk management practices in the risky project environment.

Original languageEnglish
Title of host publicationTechnological Innovation for Industry and Service Systems - 10th IFIP WG 5.5/SOCOLNET Advanced Doctoral Conference on Computing, Electrical and Industrial Systems, DoCEIS 2019, Proceedings
EditorsLuis M. Camarinha-Matos, Ricardo Almeida, José Oliveira
PublisherSpringer
Pages58-69
Number of pages12
ISBN (Print)9783030177706
DOIs
Publication statusPublished - 1 Jan 2019
Event10th IFIP WG 5.5/SOCOLNET Advanced Doctoral Conference on Computing, Electrical and Industrial Systems, DoCEIS 2019 - Costa de Caparica, Portugal
Duration: 8 May 201910 May 2019

Publication series

NameIFIP Advances in Information and Communication Technology
PublisherSpringer
Volume553
ISSN (Print)1868-4238

Conference

Conference10th IFIP WG 5.5/SOCOLNET Advanced Doctoral Conference on Computing, Electrical and Industrial Systems, DoCEIS 2019
CountryPortugal
CityCosta de Caparica
Period8/05/1910/05/19

Keywords

  • Combined cycle power plant (CCPP) projects
  • Project management
  • Risk management

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  • Cite this

    Zohrehvandi, S., & Tenera, A. (2019). Proposing a Risk Management Model in Construction of Combined-Cycle Power Plant Projects. In L. M. Camarinha-Matos, R. Almeida, & J. Oliveira (Eds.), Technological Innovation for Industry and Service Systems - 10th IFIP WG 5.5/SOCOLNET Advanced Doctoral Conference on Computing, Electrical and Industrial Systems, DoCEIS 2019, Proceedings (pp. 58-69). (IFIP Advances in Information and Communication Technology; Vol. 553). Springer. https://doi.org/10.1007/978-3-030-17771-3_5