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Web-based risk assessment technique for time and cost overrun (WRATTCO) – a framework

Memon, Aftab Hameed and Abdul Rahman, Ismail and Zainun, Noor Yasmin and Abdul Karim, Ahmad Tarmizi (2013) Web-based risk assessment technique for time and cost overrun (WRATTCO) – a framework. In: 2nd International Conference on Innovation, Management and Technology Research (ICIMTR 2013) , 22-23 September 2013, Universiti Malaysia Kelantan .

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Abstract

Controlling time and cost overrun of construction projects is very crucial in achieving successful completion of any projects. Unfortunately, construction industry today is facing a major risk in achieving completion of project within estimated time and cost. This risk is caused by various factors. Aiming to treat this problem, this study presents a framework for web-based expert and decision support system in order to assess the risk level of causative factors of time and cost overrun on project success throughout the lifecycle of construction process. It will be integrated with project schedule to estimate the consequences of these factors and forecast the loss of time and cost if the risk factors are not controlled. This will be achieving by implanting the technique of neural network. The program will also be able to suggest the corrective actions in order to control the identified risk factors. Finally, various reports can be generated in presenting the associated problems of the factors and their relative impact of project performance.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: time overrun; cost overrun; risk factors; expert system
Subjects: T Technology > TA Engineering (General). Civil engineering (General) > TA630-695 Structural engineering (General)
Divisions: Faculty of Civil and Environmental Engineering > Department of Construction Engineering and Architecture
Depositing User: Normajihan Abd. Rahman
Date Deposited: 07 Nov 2013 04:37
Last Modified: 21 Jan 2015 08:03
URI: http://eprints.uthm.edu.my/id/eprint/4405
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