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Journal articles on the topic 'Quantitative Project Management'
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Rao, Uma Sudhakar, Srikanth Kestur, and Chinmay Pradhan. "Stochastic Optimization Modeling and Quantitative Project Management." IEEE Software 25, no. 3 (May 2008): 29–36. http://dx.doi.org/10.1109/ms.2008.77.
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Lewis, Bob. "Book Review: Quantitative Methods in Project Management." Project Management Journal 35, no. 4 (December 2004): 68. http://dx.doi.org/10.1177/875697280403500410.
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Titarenko, Boris, Sergey Titov, and Roman Titarenko. "Risk Management in Innovation Projects." Applied Mechanics and Materials 638-640 (September 2014): 2338–41. http://dx.doi.org/10.4028/www.scientific.net/amm.638-640.2338.
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The report deals with projects risk management approaches and methods. The methods are based upon the main provisions of the following standards: International Competence Baseline, published by International Project Management Association – IPMA and National Competence Baseline published by Russian Project Management Association – SOVNET. It is known two types of risk management methods: qualitative and quantitative. Qualitative methods deal with procedures that reduce the risk of risk situations and the quantitative methods allow to produce quantitative estimates of the proposed activities using SOVNET system methodology.
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Watema, Joash, and John Tulirinya. "Project Implementation, Risk Management Practices and Project Success." East African Journal of Business and Economics 3, no. 1 (March 12, 2021): 36–50. http://dx.doi.org/10.37284/eajbe.3.1.296.
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The study aimed to establish the relationship between project implementation, risk management practices and project success for projects implemented by NGOs in Iganga Municipality. The study used a quantitative, correlational and cross-sectional survey design. The sample consisted of 117 respondents who included project managers, their assistants, and accountants of 45 projects implemented by NGOs in Iganga Municipality. Data was collected using a self-administered questionnaire and analysed using statistical packages for social scientists (SPSS). This study discusses project implementation and risk management practices as the issues involved in project success and or failure. The study concluded that project implementation and risk management practices were significant in improving project success. This study recommended that NGOs in Iganga Municipality need to put much emphasis on project implementation and risk management practices as a way of improving project success as their correlation is significant.
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Klein, Gary, and Ralf Müller. "Quantitative Research Submissions to Project Management Journal®." Project Management Journal 50, no. 3 (April 3, 2019): 263–65. http://dx.doi.org/10.1177/8756972819840141.
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Ibrahim, Michael W., Awad Hanna, and Dave Kievet. "Quantitative Comparison of Project Performance between Project Delivery Systems." Journal of Management in Engineering 36, no. 6 (November 2020): 04020082. http://dx.doi.org/10.1061/(asce)me.1943-5479.0000837.
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Fiala, Petr. "New trends in project portfolio management." Trendy v podnikání 10, no. 3 (2021): 4–11. http://dx.doi.org/10.24132/jbt.2020.10.3.4_11.
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The use of project portfolio management is increasingly becoming a tool for promoting the strategy of the organization. Using sophisticated quantitative tools becomes a significant competitive advantage for project portfolio management. Project portfolio management is a dynamic multi-criteria decision-making problem under risk. The paper presents new approaches for analyzing the problem. A dynamic version of the Analytic Network Process (ANP) captures the network, multicriteria and dynamic structure of the problem. Multicriteria decision trees analyze risk of project portfolios. Possible projects are characterized by sets of inputs and outputs, where inputs are resources for project realization and outputs measure multiple criteria of goals of the organization. The Data Envelopment Analysis (DEA) is an appropriate approach to select efficient project portfolios.
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Poveda-Bautista, Rocio, Jose-Antonio Diego-Mas, and Diego Leon-Medina. "Measuring the Project Management Complexity: The Case of Information Technology Projects." Complexity 2018 (2018): 1–19. http://dx.doi.org/10.1155/2018/6058480.
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Complex projects require specific project management (PM) competences development. However, while no complex projects have standards that are recognized to guide their management, complex projects do not have guides to deal with their complexity. To lead complex projects to success, this complexity must be measured quantitatively and, in our opinion, project management complexity assessment should be based on existing PM standards. In this work, the main project complexity assessment approaches based on PM standards are analyzed, observing that International Project Management Association (IPMA) approach is the closest to a tool that can be used as a complexity quantitative measurement system. On the other hand, several authors have shown that the inherent complexity of specific kind of projects must be measured in a particular way. The main objective of this research is to propose a project management complexity assessment tool for IT projects, providing a Complexity Index that measures the impact that complexity factors inherent to IT projects have under a specific complexity scenario. The tool combines the use of complexity factors defined by IPMA approach and the use of complexity factors found in the literature to manage inherent complexity of IT projects. All these factors were validated by expert survey and the tool was applied to a study case.
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A. Makarova, Ekaterina, and Anna Sokolova. "Foresight evaluation: lessons from project management." Foresight 16, no. 1 (March 4, 2014): 75–91. http://dx.doi.org/10.1108/fs-03-2012-0017.
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Purpose – The aim of this paper is to identify ways for improvement of the foresight evaluation framework on the basis of analysis and systematisation of accumulated experience in the field of project management. Design/methodology/approach – The paper is based on a detailed literature review devoted to an evaluation of foresight and traditional projects. The approaches to project evaluation in the field of project management were investigated, and the main steps of traditional project evaluation process were determined. The most commonly applied steps of foresight evaluation were identified by the analysis of recent foresight evaluation projects. The comparison of evaluation frameworks for foresight projects and traditional projects allows to provide recommendations for foresight evaluation framework improvement. Findings – The paper identifies several lessons for foresight evaluation from project management. The elements which can enrich foresight evaluation framework are the following: the development of an evaluation model; the extensive use of quantitative methods; the elaboration of evaluation scales; the inclusion of economic indicators into evaluation; and the provision of more openness and transparency for evaluation results. Originality/value – Given the importance of foresight evaluation procedures and the lack of a commonly applied methodological approach, the value of this paper consists in identifying a foresight evaluation framework and enriching it with elements of project management.
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Mahmoud al-Mukahal, Amer Abdullatef. "Risk Management of Construction Projects." Engineering Management Research 9, no. 1 (May 15, 2020): 15. http://dx.doi.org/10.5539/emr.v9n1p15.
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This study aims to Analyzing the nature of Construction Projects, Analyzing the Nature of Construction Projects Risk, and Analyzing The mechanism of Risk Management. This Study adopted The Quantitative Method. The Summary Concluded From The Study Lies in the Theoretical Study of construction Project`s Risk. The Construction Project Contains Many Risk Which Related to Different Factors:
Legal, Organizational, Technical, Zoning, Financial, Social and Political Factors. The Process of Management of Construction Projects includes:
Planning of Risk Management, Risk Identification By (Checklist Analysis, Questionnaire, Personal Interview, Brainstorming Technique, Delphi Technique), Risk Analysis By Qualitative Analysis By (Probability and Impact Assessment, Cause and Effect Diagram, Probability and Impact Matrix) and Quantitative Analysis By (Probability Distributions, interviews , Sensitivity Analysis, Fault tree, Events tree, Munte Carlo Simulation), Planning the Response to Risk By (Strategies for Response to Negative Risk , and Strategies to Positive Risks), and Risk Control and Cheek. Depending on The Conclusions, The Study Recommends the Following:
Process of Assessing The Efficiency of Construction Companies.
Use Qualitative Analysis and Quantitative Analysis in The Process of diagnosis, and Categorization of Risk in the Process of Risk Management.
Studying Types of Contracts of Construction Projects.
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Petter Krane, Hans, and Nils O.E. Olsson. "Uncertainty management of projects from the owners' perspective, with main focus on managing delivered functionality." International Journal of Managing Projects in Business 7, no. 1 (December 20, 2013): 133–43. http://dx.doi.org/10.1108/ijmpb-03-2013-0006.
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Purpose – This paper aims to report on the work on a doctoral thesis studying uncertainty management of projects. The thesis was in particular studying uncertainty regarding the functionality that the project should deliver. The research also addresses how the project owner's views and interests are taken care of, and the relation between the project management and the project owner in this uncertainty management. The purpose of the paper is not only to report the research findings and conclusions, but also to give insight into the research process – the researcher's “journey” in his work with the thesis is described and also some main issues regarding the context of the research. Design/methodology/approach – The research work that is reported on was carried out applying a combined research approach utilizing both quantitative and qualitative data. The research was mainly based on two case studies – one made up of two projects in the railway sector, and one consisting of seven projects in the energy sector. In both the studies, qualitative techniques were applied: interviews, observations and documentation studies. In the study in the energy sector, there was also made a quantitative study using data from the risk registers of the seven projects, with a total of almost 1,500 risk items. Findings – The study shows that the projects' uncertainty management did not have a project owner's perspective, but was mainly focused on the success factors of the project management. In the quantitative part of the studies, it was found that a great majority (91 percent) of the risk elements in the projects studied were operational risks, i.e. risks mainly concerning the projects' operational goals. Also, most of the projects' risk elements were threats (67 percent). Originality/value – There appears to be a paucity of similar studies of uncertainty management in projects undertaken in the project management research literature. Developing a better focus on the project owner and uncertainty regarding the projects' effects was found to be the main value of the work.
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Ibbs, C. William, Young Hoon Kwak, Tzeyu Ng, and A. Murat Odabasi. "Project Delivery Systems and Project Change: Quantitative Analysis." Journal of Construction Engineering and Management 129, no. 4 (August 2003): 382–87. http://dx.doi.org/10.1061/(asce)0733-9364(2003)129:4(382).
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Kim, Kyong H., Heung J. Kim, and Young B. Park. "Quantitative Project Management Using Comparison of CMMI and PMBOK." KIPS Transactions:PartD 12D, no. 4 (August 1, 2005): 601–8. http://dx.doi.org/10.3745/kipstd.2005.12d.4.601.
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Prater, James, Konstantinos Kirytopoulos, and Tony Ma. "Optimism bias within the project management context." International Journal of Managing Projects in Business 10, no. 2 (April 4, 2017): 370–85. http://dx.doi.org/10.1108/ijmpb-07-2016-0063.
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Purpose One of the major challenges for any project is to prepare and develop an achievable baseline schedule and thus set the project up for success, rather than failure. The purpose of this paper is to explore and investigate research outputs in one of the major causes, optimism bias, to identify problems with developing baseline schedules and analyse mitigation techniques and their effectiveness recommended by research to minimise the impact of this bias. Design/methodology/approach A systematic quantitative literature review was followed, examining Project Management Journals, documenting the mitigation approaches recommended and then reviewing whether these approaches were validated by research. Findings Optimism bias proved to be widely accepted as a major cause of unrealistic scheduling for projects, and there is a common understanding as to what it is and the effects that it has on original baseline schedules. Based upon this review, the most recommended mitigation method is Flyvbjerg’s “Reference class,” which has been developed based upon Kahneman’s “Outside View”. Both of these mitigation techniques are based upon using an independent third party to review the estimate. However, within the papers reviewed, apart from the engineering projects, there has been no experimental and statistically validated research into the effectiveness of this method. The majority of authors who have published on this topic are based in Europe. Research limitations/implications The short-listed papers for this review referred mainly to non-engineering projects which included information technology focussed ones. Thus, on one hand, empirical research is needed for engineering projects, while on the other hand, the lack of tangible evidence for the effectiveness of methods related to the alleviation of optimism bias issues calls for greater research into the effectiveness of mitigation techniques for not only engineering projects, but for all projects. Originality/value This paper documents the growth within the project management research literature over time on the topic of optimism bias. Specifically, it documents the various methods recommended to mitigate the phenomenon and highlights quantitatively the research undertaken on the subject. Moreover, it introduces paths for further research.
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Wu, Zhao, Ma, and Yang. "Improving the Efficiency of Highway Construction Project Management Using Lean Management." Sustainability 11, no. 13 (July 2, 2019): 3646. http://dx.doi.org/10.3390/su11133646.
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The construction industry is often ranked top in producing the largest amount of waste during a project, be it the waste of material resources or the waste of manpower. This has elevated the need for an improved and more structured management technique. This study will look into the principles and practices of lean management pertinent to highway construction projects to analyze whether lean management practices can improve the management efficiency for complex projects. This study adopted a quantitative approach, and a linear regression model has been used to investigate correlations between the lean test factors and the efficiency-dependent variables. It was found that lean management tools that are used repeatedly and the ones that require a high level of detailing are positively associated with efficiency improvement in highway construction projects. In particular, LPS, JIT, and VM were found to be more commonly used in highway construction projects. The research results will aid in the initial decision-making process of the project managers, as they will be able to map different lean tools with their benefits and limitations and then select the one that best suits the project needs and deliverables. Future studies can adopt the interpretivism paradigm to explore new theories and concepts related to highway construction management.
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Silva, Denila Bueno, and Maria Lúcia Alves Pereira Cardoso. "The Insertion of the Nurse in a Project Management Team." Revista Gestão Inovação e Tecnologias 11, no. 4 (July 22, 2021): 2667–77. http://dx.doi.org/10.47059/revistageintec.v11i4.2308.
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The nurses are in many hospital sectors and can take on many different responsibilities and activities. The hospitals that develop social’s projects have to include nurses in their team’s projects. The objectives are to characterize these nurses about gender, age, education, professional experience time and to know the nurse’s motivation and perception about working in a project management tea. The study is exploratory and descriptive, with a quantitative and qualitative approach through applying a questionnaire sent to 26 nurses that work in two hospitals in São Paulo. In the qualitative axis, content analysis was used, according to Bardin, and a statistician analyzed the quantitative axis with descriptive analyzes of the variables. There is a 77% presence of women in the teams; most of them are over 40 years old, with an average experience of assistance of 12 years. As a motivation, nurses work in project management for having received an invitation and also for the opportunity to work on projects related to Brazilian Health Unic System. Nurses point out that their activities consist of planning and executing the project itself, team management, and the applicability of their care knowledge. The nurses have essential characteristics, since their graduation, that enables their presence in project management.
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Wanivenhaus, Helmut, Jure Kovač, Anja Žnidaršič, and Igor Vrečko. "Vienna Construction Projects: Redirection of Project Management Critical Success Factors—More Focus on Stakeholders and Soft Skills Development." Lex localis - Journal of Local Self-Government 16, no. 2 (March 27, 2018): 337–59. http://dx.doi.org/10.4335/16.2.337-359(2018).
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Although research interest in project management is increasingly directed at analyzing development trends in different business environments, the public sector in this respect has received surprisingly little intention. This paper analyzes the perception of the relevance of particular project management critical success factors among project managers and other project stakeholders in the public sector with relatively high organizational project management maturity. The main focus of research is the city of Vienna and its construction projects. An extensive quantitative survey showed the changing perceptions of the key projects’ success factors—namely, strengthening the importance of developing soft skills and stakeholders’ management.
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Uzoka, Faith-Michael, Kalen Keavey, Janet Miller, Namrata Khemka, and Randy Connolly. "Critical IT Project Management Competencies." International Journal of Information Technology Project Management 9, no. 4 (October 2018): 1–16. http://dx.doi.org/10.4018/ijitpm.2018100101.
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Academic computing curricula generally focus on teaching the specific technological skills expected of new graduates in their disciplines. Yet when it comes to hiring these graduates, behavioral skills (also called soft skills) such as communication and personal integrity are almost always rated as being more important than the technological skills. This mixed-method research project adds to the understanding of skill expectations required for new hires by providing information from a global sample of project management professionals. Both the quantitative and qualitative results are in accord with the vast majority of the extant literature in that behavioral skills were seen as more critical than technical skills. Implications and recommendations for educators, curriculum developers, and prospective graduates are discussed.
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Kral, Pavol, Viera Valjaskova, and Katarina Janoskova. "Quantitative approach to project portfolio management: proposal for Slovak companies." Oeconomia Copernicana 10, no. 4 (December 29, 2019): 797–814. http://dx.doi.org/10.24136/oc.2019.036.
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Research background: Project portfolio optimization isa demanding process in the case of considering a large number of project intentions and has so far been the subject of research by many authors, especially foreign authors. However, the issue of project portfolio optimization is an area that is not sufficiently addressed by Slovak authors. This was the main impulse to create a specific mathematical model of integer programming with bivalent variables to optimize the company's project portfolio with the intention to reflect the specific requirements of Slovak companies.
Purpose of the article: The aim of the article is to propose a mathematical model of integer programming with bivalent variables to optimize the project portfolio with a focus on Slovak companies.
Methods: In accordance with the aim of the article, a questionnaire survey was carried out with the intention of identifying the criteria that are perceived by the managers of Slovak companies as important in the optimization of the project portfolio. These criteria were subsequently reflected in the mathematical model design using the mathematical programming method.
Findings & Value added: Based on a literature review aimed at the project portfolio optimization, we have found a gap in considering the compliance of project intentions and strategic objectives of the company within the optimization of the project portfolio. Based on the results of the questionnaire survey, the significance of the mutual compliance of project intentions with the strategic objectives of the company was confirmed from the point of view of Slovak companies. Given the fact that our aim was to create an innovative integer programming model with bivalent variables orientated to the conditions of Slovak companies, we included in the resulting model the criteria that were not considered within the scope of existing research in this area, and which are perceived as important by the Slovak companies.
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Mohapatra, Sanjay. "Improvised process for quality through quantitative project management: an experience from software development projects." International Journal of Information and Communication Technology 2, no. 4 (2010): 355. http://dx.doi.org/10.1504/ijict.2010.034977.
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Klaus-Rosińska, Agata, and Joanna Iwko. "Stakeholder Management—One of the Clues of Sustainable Project Management—As an Underestimated Factor of Project Success in Small Construction Companies." Sustainability 13, no. 17 (September 2, 2021): 9877. http://dx.doi.org/10.3390/su13179877.
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According to contemporary literature, stakeholder management (which is one of the identified clues of sustainable project management) plays a significant role in successfully delivering construction projects. However, the literature focuses on the issues of stakeholder management/analysis mainly for large projects, and the authors could not find any items related to small construction projects. The aim of the article is to present the results of research conducted in small construction companies in the context of stakeholder management of their projects against the background of project success and sustainability. Many researchers have concluded that stakeholder management is one of the success factors of projects (including construction projects). Based on the conducted quantitative research, the needs in the field of stakeholder management of small construction companies’ projects were determined and the approaches used in this area were diagnosed. The research results indicate a low level of maturity of small construction companies in managing project stakeholders, which is a surprising result considering the fact that the literature on the subject emphasizes the importance of taking care of the project stakeholder management area and associating it with the project’s success.
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Alhawari, Samer. "Relationship among Project Management Processes and Knowledge Repository for Project Success." International Journal of Enterprise Information Systems 12, no. 4 (October 2016): 16–30. http://dx.doi.org/10.4018/ijeis.2016100102.
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Knowledge repository is becoming a key factor within organizations as it can maximize the probability and impact of Information and Communications Technology (ICT) project success. Therefore, project management (PM) processes and knowledge repository are widely used in ICT projects to improve the degree of project success. The purpose of this paper is to suggest a model that defines how the combination of PM processes and knowledge repository would successfully support project success. This paper adapts the quantitative research approach by using the survey strategy which is conducted through questionnaires collected from 320 people working in ICT companies in Jordan. The researchers utilized the Smart Partial Least Square (PLS) as an analysis technique to test all hypotheses. The findings suggest that there is a positive effect of adapting the PM processes in improving the project success mediation by the knowledge repository.
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Volz, Stephen W. "Project Management Education in Online Environments." International Journal of Strategic Information Technology and Applications 7, no. 4 (October 2016): 110–19. http://dx.doi.org/10.4018/ijsita.2016100104.
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This exploratory case study included a mixed methods approach using both qualitative and quantitative methods to review project management education programs in online environments in the United States. Accredited education programs through the Project Management Institute's Global Accreditation Center formed the basis of the research. The focus of this study was on the project management content used by online colleges and universities to teach project management to students. The findings help to provide recommendations for project management education to improve its delivery to students.
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Xu, Feng, and Shao-Pei Lin. "Theoretical framework of Fuzzy-AI model in quantitative project management." Journal of Intelligent & Fuzzy Systems 30, no. 1 (October 6, 2015): 509–21. http://dx.doi.org/10.3233/ifs-151776.
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Garcia, Ivan, Carla Pacheco, and Jose A. Calvo. "Quantitative Project Management in Small and Medium-sized Software Enterprises." IEEE Latin America Transactions 12, no. 3 (May 2014): 508–13. http://dx.doi.org/10.1109/tla.2014.6827880.
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Zhang, Qi, and Hai Bing Chen. "Research on Game Analysis and Resources Allocation in Multi-Project Management." Applied Mechanics and Materials 121-126 (October 2011): 4619–24. http://dx.doi.org/10.4028/www.scientific.net/amm.121-126.4619.
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In order to cope with the pressure from competition of global marketization, it’s common for enterprises to carry out multiple projects at the same time. The following has always been the focus and key issues for management wanting to achieve greater operational benefits when carrying out multiple projects simultaneously 1. resource allocation 2. shorten project-development cycle by coordinating relationships between team members 3. lower operating cost This paper covers 4. Introducing the concept of Multi-Project Management and its difference from general project management 5. Analyze the advantages and existing problems of Multi-Project Management 6. Address the issues such as resource allocation and conflicts resolution/coordination between project manager & operation manager by using Quantitative Analysis such as Game theory 7. Provide theory reference and practical suggestions for entrepreneurs.
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Dobrovolschi, Olga, and Jan Lhota. "RISK MANAGEMENT WITH A FINANCIAL IMPACT." International Journal of Research -GRANTHAALAYAH 7, no. 10 (June 16, 2020): 418–28. http://dx.doi.org/10.29121/granthaalayah.v7.i10.2019.416.
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Project risk management's aim is to afford vision of the risk profile of a project to support decision-makers to reduce the consequences of risks on project purposes such as time and budget. Risk evaluation and treatment of the whole project fronts the crises of developing irrelevant reactions. Despite every risk is by nature subjective, at the time of risk management progress many analytical models have been developed. Nowadays risk management tools are obtaining big attention, as it is a way to reduce costs, improve schedule and redevelop technical performance of new products. However, there is still a lack of researches directed on the investigation of the productive integration of risk management tools into an organization. Quantitative tools remain the best choice so this study broaches one of them named RFMEA. The research provides a basis for a quantitative approach to risk assessment in a project of an engineering company. Because of changes coming to the traditional risk management process caused by implementing Industry 4.0 in the automotive industry, there is considered management of Innovation. The outline is made of risk management trends.
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Ugonna, Charity Udodirim, and Edward Godfrey Ochieng. "Strategic Project Management in Nigerian Public Research Organisations." International Journal of Information Technology Project Management 7, no. 2 (April 2016): 44–57. http://dx.doi.org/10.4018/ijitpm.2016040103.
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The aim of this study was to assess the application of strategic project management (SPM) in Nigerian public research organisations. A case study approach involving four R and D organisations in Nigeria was used. A total of 213 questionnaires were retrieved and these were analysed using quantitative research software, SPSS version 21. The results revealed that 95 per cent of respondents acknowledged that projects executed by public research organisations were planned, but the conventional project management practices were used instead of strategic project management (SPM) principles. In addition, it was found that the level of implementation of the project management practices were also inadequately implemented as such affected the organisation's performance adversely. As established in this study, the concept of strategy is changing and to address the factors that affect research and development project implementation, senior project practitioners need to pay more attention to strategic, operational and project risks.
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Kowalski, Martin, Stephan Zelewski, and Daniel Bergenrodt. "Applying of an Ontology-driven Case-based Reasoning System in Logistics." INTERNATIONAL JOURNAL OF COMPUTERS & TECHNOLOGY 3, no. 2 (October 30, 2012): 347–50. http://dx.doi.org/10.24297/ijct.v3i2c.2898.
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The management of logistics projects is a well known part of management science. But until now, purely quantitative and hard project management techniques like the critical path method and the project evaluation and review technique have been dominant. With this main stream approach, only simply structured logistics projects can normally be managed. The few attempts to use case-based reasoning (CBR) for project management failed up until now because of the difficulties when identifying those projects which contain useful, especially qualitative knowledge for the current logistics project. In this paper we present an ontology-driven case-based reasoning system (SCM Project Recommender), that can measure similarity between knowledge collections, which are written in natural language. The application is implemented using the open source CBR development framework jCOLIBRI.
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Bairi, Jayachandra, B. Murali Manohar, and Goutam Kumar Kundu. "Capacity and availability management by quantitative project management in the IT service industry." Asian Journal on Quality 13, no. 2 (August 24, 2012): 163–76. http://dx.doi.org/10.1108/15982681211265472.
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Lam, Terence Y. M., and Njavwa Siwingwa. "Risk management and contingency sum of construction projects." Journal of Financial Management of Property and Construction 22, no. 3 (November 6, 2017): 237–51. http://dx.doi.org/10.1108/jfmpc-10-2016-0047.
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Purpose Most organisations do not have established guidelines for the estimation and management of contingency funds. The purpose of this paper is to identify the risk factors at the construction phase causing project cost overruns, and a reliable method for the estimation of contingency sum is established. Design/methodology/approach Combined qualitative–quantitative exploratory methods were used. Qualitative interviews were conducted with five expert practitioners working in a Public Works Department in Zambia to determine how contingency sum is estimated and to explore what risk factors should be considered. Quantitative regression used cost and risk data collected from 30 recently completed building and refurbishment projects. Findings The qualitative study indicated that the project budget overruns constitute a major issue. This finding is in line with the paired-samples t-test results which show that the difference between the total variations and the initial contingency sum tends to be significant. The regression analysis proved that the contingency sum was positively correlated to the estimated contract sum. The qualitative interview results and Pearson correlation analysis also showed that contingency sum and project complexity tend to have a significant correlation. The research also demonstrates that the type of works is not a direct significant factor. Research limitations/implications Because the projects used for the study were relatively short, duration of the project and economic factor of tax rate, exchange rate and inflation rate were not examined in the multiple regression analysis. Further studies should be conducted on longer projects to test out whether these risk factors are significant in influencing the project contingency. Practical implications The results demonstrate that the multiple regression method can be applied as a reliable tool to predict contingency sums. Accurate contingency sums and project budget estimates benefit construction clients and their project managers. Individual project conditions should be carefully examined when assessing the contingency. Originality/value This research establishes a reliable regression method for the assessment of the contingency for the pre-tender estimate which has significant impact on the project feasibility and cost control, using related risk factors involved in construction contingency and client’s contingency.
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Vilventhan, Aneetha, and R. Rajadurai. "4D Bridge Information Modelling for management of bridge projects: a case study from India." Built Environment Project and Asset Management 10, no. 3 (December 9, 2019): 423–35. http://dx.doi.org/10.1108/bepam-05-2019-0045.
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Purpose The rapid development of the construction industry requires effective ways to monitor and control the project, and the use of 4D BIM is found to be very efficient. The purpose of this paper is to consider development, application and evaluation of 4D Bridge Information Modelling (BrIM) models for an ongoing bridge project. Design/methodology/approach An ethnographic action-based case study research methodology is adopted in this study. An ongoing bridge construction project in India is chosen and the 4D BrIM application is evaluated both quantitatively and qualitatively using planned percentage complete (PPC) measurements and semi-structured interviews, respectively. Findings The evaluation of the case study shows an increase in PPC values from 26.5 to 56.4 per cent after implementation of 4D BrIM in the project. The application of 4D BrIM in the construction phase benefits the project team in material delivery planning, project monitoring and control, construction schedule improvement, documentation and coordination. Practical implications The developed models are practically applied to the ongoing project and the positive benefits are observed. It is shown that 4D BrIM has the potential to improve the construction of bridge projects. Originality/value Studies have contributed towards the development and implementation of 3D BrIM models for bridge projects. Limited efforts have been taken to analyse how 4D BrIM models help in the overall management of bridge projects. This study adds value to the existing literature through development, implementation and systematic qualitative and quantitative evaluation of 4D BrIM models.
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Gavrysh, Oleg, and Valeriia Melnykova. "Project risk management of the construction industry enterprises based on fuzzy set theory." Problems and Perspectives in Management 17, no. 4 (December 11, 2019): 203–13. http://dx.doi.org/10.21511/ppm.17(4).2019.17.
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The construction industry is a crucially important element of the Ukrainian economy, since its development and performance affect other industries. The economic recession consequences and the unforeseen recent events, caused by different types of risks, have adversely affected the construction industry development and necessitated the search for modern methods of risk management. The study is based on a sample of five projects from five construction industry enterprises and covered the period of 2010–2018. A set of project risks, investigated by the group of experts, was analyzed based on fuzzy set theory, and included seven phases of the fuzzy set model construction to assess project risks of construction industry enterprises. Based on the identified elements of a fuzzy set model and a set of significant project risks, a value classifier of significant project risks for construction industry enterprises was developed. This allowed to estimate the current values of project risk indicators and to identify them by levels of their fuzzy subset membership. Besides, a classifier for the quantitative assessment of the total project risks level for investment projects was developed, which allowed estimating the value of the aggregate indicator. In order to improve the existed methodology, the study suggested introducing probabilistic values for the risk of project failure depending on the significance of the overall project risks. Accordingly, the paper identifies the probability of significant project risks simultaneous occurring during the project implementation. However, the higher the likelihood of risk, the higher the probability of investment project failure.
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Sabden, Orazaly, Assel Kozhakhmetova, Aknur Zhidebekkyzy, and Sharbanu Turdalina. "The impact of organizational support on project efficiency: evidence from Kazakhstan." Problems and Perspectives in Management 18, no. 4 (December 9, 2020): 203–12. http://dx.doi.org/10.21511/ppm.18(4).2020.18.
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Project managers from different areas struggle to find universal set of factors to achieve high project efficiency. However, the project efficiency assessment varies across industries, making it difficult to apply general concepts and guidelines in the specific project environment. The study’s main purpose is to assess the impact of organizational support on project efficiency in different areas and identify critical processes that increase it. The paper presents quantitative research results by using data from 261 project managers in the Republic of Kazakhstan during 2018–2019. The research sample consists of commercialization projects, scientific projects, social projects, and projects from the service industry. The research findings show the different quality levels of top management support and its high correlation with project efficiency. Furthermore, the study reveals the specific processes for each investigated type of project that highly correlate with project efficiency dimensions. Commercialization projects that intensively use the organizational support processes were the most efficient projects by showing the best result in cost overrun (15%) and the second resulted in schedule overrun (17%). These findings have theoretical and practical implications, supporting project managers in increasing their project efficiency by choosing the critical, proper project management tools and techniques.
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Steen, John, Robert DeFillippi, Jörg Sydow, Stephen Pryke, and Ingo Michelfelder. "Projects and Networks: Understanding Resource Flows and Governance of Temporary Organizations with Quantitative and Qualitative Research Methods." Project Management Journal 49, no. 2 (April 2018): 3–17. http://dx.doi.org/10.1177/875697281804900201.
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Project-based organizing is becoming increasingly common, but projects are challenging for managers because they must coordinate resources, including people and information, under time pressure to achieve a one-off outcome. In this article, we suggest that a network lens is ideal for researching project coordination because it enables the interested party to study the flows of resources and the structures that allow the project to be effectively governed. Both qualitative and quantitative, including graph-theoretic methods for analyzing networks are suitable for examining project network governance and network resource flows. However, governance tends to be studied more with qualitative methods, and resource flows are more commonly researched with social network analysis. The article concludes with considerations regarding multi-method approaches to the study of project networks.
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�������, Dmitriy Gergert, ���������, and Yu Zhuravleva. "Identification and Assessment of Project Management�s Key Factors at Early Stage of Realization." Russian Journal of Project Management 3, no. 2 (June 17, 2014): 13–29. http://dx.doi.org/10.12737/2976.
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This paper is devoted to identification and assessment of project management�s key factors at project realization�s early stage. In scientific and practical literature such type of projects often and unconditionally are ranked as venture ones. However the venture project is only one of project steps at an early stage of realization. The questions considered in this paper, cover a wide range of problems connected with absence of methodological unity in this subject. A great attention in this research has been paid to such factors, as features related to interference of projects profitability and chosen business model; influence on projects implementation such factors, as team, financing, market growth; assessment of project manager�s leadership skills influence on project realization success. Paper represents results of projects� quality and quantitative research at their realization�s early stage in the Russian Federation and can form a basis for subsequent and deeper researches in this direction.
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Lee, Si-Yong, Ken Hnottavange-Telleen, Wei Jia, Ting Xiao, Hari Viswanathan, Shaoping Chu, Zhenxue Dai, Feng Pan, Brian McPherson, and Robert Balch. "Risk Assessment and Management Workflow—An Example of the Southwest Regional Partnership." Energies 14, no. 7 (March 30, 2021): 1908. http://dx.doi.org/10.3390/en14071908.
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This paper summarizes the risk assessment and management workflow developed and applied to the Southwest Regional Partnership on Carbon Sequestration (SWP) Phase III Demonstration Project. The risk assessment and management workflow consists of six primary tasks, including management planning, identification, qualitative analysis, quantitative analysis, response planning, and monitoring. Within the workflow, the SWP assembled and iteratively updated a risk registry that identifies risks for all major activities of the project. Risk elements were ranked with respect to the potential impact to the project and the likelihood of occurrence. Both qualitative and quantitative risk analyses were performed. To graphically depict the interactions among risk elements and help building risk scenarios, process influence diagrams were used to represent the interactions. The SWP employed quantitative methods of risk analysis including Response Surface Method (RSM), Polynomial Chaos Expansion (PCE), and the National Risk Assessment Partnership (NRAP) toolset. The SWP also developed risk response planning and performed risk control and monitoring to prevent the risks from affecting the project and ensure the effectiveness of risk management. As part of risk control and monitoring, existing and new risks have been tracked and the response plan was subsequently evaluated. Findings and lessons learned from the SWP’s risk assessment and management efforts will provide valuable information for other commercial geological CO2 storage projects.
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Li, Chen Yang, Hong Guang Chen, Dan Dan Xie, and Wei Wei Tian. "Urban Sewage Treatment Project Risk Management Model." Advanced Materials Research 955-959 (June 2014): 2070–73. http://dx.doi.org/10.4028/www.scientific.net/amr.955-959.2070.
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Using the automatic driving process of urban sewage treatment project risk model, combining with the characteristics of sewage disposal engineering project financing, putting forward the model of urban sewage treatment project financing risk. Cognizing and distinguishing on urban sewage treatment project financing risk. Delphi analytic hierarchy process is used to quantitative analysis for getting urban sewage treatment project financing risk hierarchy, using fuzzy comprehensive evaluation model for its optimization research.
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Cha, Jonghyuk, and Eunice Maytorena-Sanchez. "Prioritising project management competences across the software project life cycle." International Journal of Managing Projects in Business 12, no. 4 (December 2, 2019): 961–78. http://dx.doi.org/10.1108/ijmpb-11-2017-0145.
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Purpose The purpose of this paper is to investigate the relative importance of project management (PM) competences across the different stages of a software project life cycle to identify competence development gaps and opportunities. Design/methodology/approach A deductive and quantitative approach was adopted to address the research questions with a web-based survey for data collection. Findings After reviewing the context of competences and PM competences, the importance of the PM competences overall and for specific stages in the project life cycle was analysed. The result highlights that functional and meta-competences are perceived to be the most important competence dimensions for software project practitioners. Originality/value This study makes three contributions. First, it consolidates PM competences into a set of 20 within four competence dimensions. Second, it prioritises these competences across the software project life cycle. Third, it identifies the significance of the inter-relationship between PM competences and project life cycle to reveal PM competence development gaps and opportunities.
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Viles, Elisabeth, Natalia Carolina Rudeli, and Adrian Santilli. "Causes of delay in construction projects: a quantitative analysis." Engineering, Construction and Architectural Management 27, no. 4 (November 4, 2019): 917–35. http://dx.doi.org/10.1108/ecam-01-2019-0024.
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Purpose The purpose of this paper is to perform a quantitative analysis of the literature in order to determine the main causes of delay in construction projects. Design/methodology/approach A set of 47 articles from the literature were analyzed, yielding 1,057 different causes of delay. In order to analyze and compare the main causes of delay, their degree of impact was studied statistically. Next, a mention count method was used to determine the primary causes of construction project delays and through the use of Pareto diagrams, the main causes of delays in construction projects were determined. Findings It was determined that the three main causes of construction project delay are problems that occur during execution, administrative problems and labor conflicts; together they account for almost 80 percent of the causes found in the literature. Moreover, it was deduced that problems during execution are based on unpredictable events, while administrative problems are rooted in poor cash flow management. In addition, seven sub-groups of delay causes were identified as being major due to the number of mentions detected. These were “Changes during construction,” “Poor construction management,” “Construction errors,” “Economic/Financial,” “Conflict/Relationship” and “Lack of experience.” Practical implications This study provides a unique classification method, which was successfully validated, for the causes of construction project delay. Thanks to the classification, designers may use this information as a starting point for designing future construction projects, thereby minimizing the appearance of unforeseen events during construction. Moreover, the results of this study will help project managers be aware of the possible causes of delay that may affect their construction projects. This understanding can help them identify potential risks in the initial phases of the project and allow decisions to be made early before problems arise or the consequences of the deviations become irreparable. The results can also serve as input for the development of future management improvement methodologies that are aimed at reducing costs and ensuring that deadlines are met. Social implications Identifying the factors and causes of the delays will allow mitigation actions to be taken in order to avoid delays, which will ultimately allow homes, schools, hospitals and other necessary infrastructure to be delivered on time or even before the planned date. Originality/value This study provides a unique classification method that was successfully validated. Thanks to the classification, designers may use this information as a starting point for designing future construction projects, thereby minimizing unforeseen events during construction.
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Vladimirova, Irina, Pavel Zemskov, and Anna Tsygankova. "Model of risk management of construction project based on transaction costs." MATEC Web of Conferences 193 (2018): 05025. http://dx.doi.org/10.1051/matecconf/201819305025.
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The paper studies the relationship between transaction costs and risk management in the construction projects affecting ecosystem considering economic externalities. Quantitative indicators of the impact of transaction costs on the level of risk in the project are thoroughly investigated. The construction project risk management model based on transaction costs is discussed in detail. Collected and experimental data of the construction project, which has a significant impact on the ecology of the Baikal region in the Russian Federation is analyzed and the uncertainty reduction caused by transaction costs is measured.
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Ke, Yongjian, ShouQing Wang, and Albert P. C. Chan. "RISK MANAGEMENT PRACTICE IN CHINA'S PUBLIC-PRIVATE PARTNERSHIP PROJECTS." Journal of Civil Engineering and Management 18, no. 5 (September 28, 2012): 675–84. http://dx.doi.org/10.3846/13923730.2012.723380.
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Project risks were not properly managed in the many past Public-Private Partnership (PPP) projects in China. Although numerous research studies have been conducted on risk management in China's PPP projects, the realization of risk management in China's construction industry especially in PPP projects with high risk exposure and complicated contract structure has hitherto not been well studied. This paper therefore attempted to examine the current use of risk management in China's PPP projects by an empirical survey. The results indicated that the use of risk management was inadequate; qualitative risk analysis methods were preferred to quantitative and semi-quantitative methods; risk management usage in the execution was found to be much higher than in the planning, conceptual or termination stage; interviewees were unfamiliar with most of the risk identification and assessment tools. All above could be partly due to the project nature, but more fundamentally due to the local industrial culture. The absence of risk management culture was found to be the dominant factor which limited the implementation of risk management in practice. Recommendations to alleviate the difficulties of risk management were thereafter provided in this paper.
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Irfan, Muhammad, Sanam Zaib Khan, Nasruddin Hassan, Mazlan Hassan, Muhammad Habib, Salma Khan, and Hadi Hassan Khan. "Role of Project Planning and Project Manager Competencies on Public Sector Project Success." Sustainability 13, no. 3 (January 29, 2021): 1421. http://dx.doi.org/10.3390/su13031421.
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Even though the world has progressed exponentially, the core reasons for the failure of many public sector projects remain the same, i.e., the poor planning and competency of a project manager. Therefore, it becomes essential even in the contemporary world to assess and evaluate a model that determines the effect of planning and the project manager’s competency on the success of public sector projects. Moreover, the present study aims to assess the role of project planning and the project manager’s competency in project success in the context of project management methodology defined by the Project Management Institute. In the current survey-based study, a sample of 260 project engineers, from the public sector organizations operating in Balochistan, that were engaged in projects was taken in order to understand the relationship between the constructs. Quantitative data were collected to address the proposed hypotheses using the partial least squares structural equation modeling technique. It was inferred from the findings that planning and competency have a significant positive impact on the success of public sector projects. Among the two, it was determined that planning for public sector projects has a greater role in the success of projects. Therefore, it is concluded based on the results of the study that in future, due consideration should be given to planning and the abilities of a project manager.
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Шишкин and Andrey Shishkin. "The system of program management of the innovation component of industrial production in the regional economic complex." Economics 1, no. 5 (December 3, 2013): 47–53. http://dx.doi.org/10.12737/1737.
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It considers the concepts associated with the system software of management
of innovative projects. Analyzed different approaches, management at different
levels. The characteristic of a program-target approach in project management.
Given the characteristics of the stages of the project. A scheme of the decision
on implementation of the innovation project. Analyzed in a quantitative method
of identification of investments for realization of the innovative project.
Characterized separate stages of the business plan of the innovative project.
Formed table of indicators of efficiency of the innovative project.
Recommendations on the formation of a formal model of the decision on the
implementation of the innovation project.
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Рыбкина, Елена, and Elena Rybkina. "Project Management of the Development of Single-Industry Towns." Bulletin of Kemerovo State University. Series: Political, Sociological and Economic sciences 2018, no. 4 (January 14, 2019): 119–23. http://dx.doi.org/10.21603/2500-3372-2018-4-119-123.
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The research features the issues of development of monoprofile municipal formations through the prism of project management methodology, which was previously applied to investment projects of private companies and had mostly theoretical relation to the municipal level. The paper presents a consolidated view on the approach to the implementation of project management methodology in single-industry towns and an attempt to predict the outcome of this process. The author describes the steps taken towards implementation of project management at the municipal level in 2015–2017, including the process of managerial competences formation in project managers dealing with the projects of development of municipal formations with a single-industry economy. The research systematizes the intermediate results of the priority program "Complex development of single-industry towns" in the direction "training of teams managing projects of development of single-industry towns". An attempt was made to relate costs to results planned by the program. The author believes that the training cost resulted in quantitative changes in the development of single-industry towns. However, no changes were recorded at the qualitative level, which could eventually lead to the initiation and implementation of viable and sustainable investment projects that contribute to the synergetic development of the economy of single-industry towns.
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Oluikpe, Paul Ihuoma. "Knowledge creation and utilization in project teams." Journal of Knowledge Management 19, no. 2 (April 7, 2015): 351–71. http://dx.doi.org/10.1108/jkm-06-2014-0214.
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Purpose – The purpose of this paper is to explore the knowledge processes that interplay in the social construction and appropriation of knowledge and to test these constructs empirically in project teams. Design/methodology/approach – Literature research and quantitative survey were used. The research identified project success, faster completion times, operational efficiency, innovation and generation of new knowledge as dominating project management expectations in the past ten years. It studied how these projects construct and appropriate knowledge within project teams to achieve these five objectives. Using a quantitative approach, data were sought from 1,000 respondents out of a population of 10,000 from 11 project management areas in eight world regions to test the conceptual model in real-world scenarios. The data gathered were analyzed using quantitative analysis tools and techniques such as reliability, correlation and regression. Findings – There is a lingering difficulty within organizations on how to translate tacit knowledge into action. The transfer and utilization of tacit knowledge was shown to be embedded and nested within relationships. Innovation in projects was found to be mostly linked to replication and codification of knowledge (explicit dimension) as opposed to interpretation and assimilation (tacit dimension). Arriving at a mutual interpretation of project details and requirements does not depend on canonical (formal documentation) methods but mostly on non-canonical (informal) and relational processes embedded within the team. Originality/value – This work studies, in empirical and geographical detail, the social interplay of knowledge and provided evidence relative to the appropriation of knowledge in the project organizational form, which can be extrapolated to wider contexts. The work scoped the inter-relational nature of knowledge and provided further evidence on the nebulous nature of tacit/intangible knowledge. It also proved further that organizations mostly rely on explicit knowledge to drive organizational results, as it is easily actionable and measurable.
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Pişirir, Erhan, Yasemin Sü, and Barbaros Yet. "Integrating Risk into Project Control Using Bayesian Networks." International Journal of Information Technology & Decision Making 19, no. 05 (August 2020): 1327–52. http://dx.doi.org/10.1142/s0219622020500315.
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Projects are, by definition, risky and uncertain ventures. Therefore, the performance and risk of major projects should be carefully controlled in order to increase their probability of success. Quantitative project control techniques assist project managers in detecting problems, thus responding to them early on, by comparing the baseline plan with the project progress. However, project risk and uncertainty are rarely considered by these techniques. This paper proposes a project control framework that integrates the project uncertainty and associated risk factors into project control. Our framework is based on earned value management (EVM), which is an effective and widely used quantitative project control technique. The framework uses hybrid Bayesian Networks (BNs) to enhance EVM with the ability to compute the uncertainty associated with its parameters and risk factors. The framework can be applied to projects from different domains, and we illustrate its use with a simple example and a case study of a construction project.
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Fu, Xiaodi, Gang Wang, Minglei Ren, Liuqian Ding, Xiaoming Jiang, Xiaoyan He, Liping Zhao, and Nan Wu. "Flood Control Risk Identification and Quantitative Assessment of a Large-Scale Water Transfer Project." Water 13, no. 13 (June 26, 2021): 1770. http://dx.doi.org/10.3390/w13131770.
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Flood control risk is one of the main risks affecting the safe operation of large-scale water transfer projects. Systematically identifying the flood control risk in the project and carrying out risk classification and hierarchical management are problems for project managers. Based on the theory of system and risk assessment, this paper starts with the various risk sources and risk events involved in the whole process of the flood disaster chain, the risk of flood disaster factors, the exposure of the disaster-bearing body, and the vulnerability of the disaster-originating environment are combined. Then, we systematically and comprehensively identify the flood control risks of a large-scale water transfer project, which are divided into four types of risk elements: rainfall–runoff; confluence and flow capacity; the geological characteristics of canal section; economic and social layouts. Specific risk factors are identified for each type of risk element, and a flood control risk evaluation index system for a water transfer project is proposed. According to the framework of the analytic hierarchy process (AHP), a quantitative assessment of comprehensive flood control for water transfer projects is carried out. Taking the middle route of the South-to-North Water Transfer Project in China as an example, this paper evaluates the integrated flood control risks of 39 engineering units, identifies six units with higher risk levels, analyzes the causes, and suggests engineering and non-engineering countermeasures to prevent and reduce the occurrence of risk accidents. This method is not only used for comprehensive flood control risk assessment and risk management in the operation and management stage of the large-scale inter-basin water transfer project, but also has a reference value in considering the optimal layout of the project water transmission line from the perspective of flood control in the planning and design stage.
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Wanjira, Kellen, and Dr Christine Ngari. "DETERMINANTS OF SUCCESSFUL PROJECT MANAGEMENT PRACTICES ON PERFORMANCE OF ROADS PROJECTS AT KENYA NATIONAL HIGHWAYS AUTHORITY." Journal of Entrepreneurship and Project Management 3, no. 1 (October 26, 2018): 1–25. http://dx.doi.org/10.47941/jepm.251.
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Purpose: The study aims at investigating the determinants of successful project management practices on performance of roads projects at Kenya National Highways Authority. This study was limited to four variables, which include project monitoring, management support, Project team, and Project funding.Methodology: The study employed a descriptive research design. The target population included the top project management team of KeNHA, Monitoring Officers of KeNHA, Project Engineers (PEs), financial officers and auditors, Consultants and Contractors in the entire structure of KeNHA totaling to 174. The study employed stratified random sampling technique to acquire a sample size of 87. The study collected both quantitative and qualitative data through the use of a organized survey of questionnaire. Data was presented in the form of frequency distribution tables, graphs and pie charts that facilitates description and explanation of the study findings. Results: The study findings revealed that project monitoring, management support, Project team competency and Project funding influence performance of roads projects at KeNHA. The results of findings indicates that a unit increase in project monitoring, management support Project team competency and Project funding leads to 0.873, 0.581, 0.713 and 0.289 increase in performance of roads projects at KeNHA respectively. The study concluded that Project Funds greatly influence road Project Completion. Recommendations: The study recommends that management should provide the necessary provision to the practical and operating workers in the development of road project operations for real and practical success of objectives. Highly qualified and experienced management support with a relevant experience and technical skills should be hired to implement road projects. This will enable the Kenya government get value for their money, achieve on-time projects completion and save huge costs.
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Maniar, H. "Contingency Management in Indian Construction Projects." Journal of Construction Business and Management 4, no. 2 (December 4, 2020): 11–24. http://dx.doi.org/10.15641/jcbm.4.2.840.
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The successful completion of Indian construction projects possesses an inherent uncertainty due to the nature of the construction industry along with prevailing tepid recovery of the Indian economy, which has made it difficult for construction companies to achieve required operational and financial performance. This necessitates having accurate project cost estimation and efficient contingency management to shield unknown project risk and address cost overrun problems. Therefore, this study aims to assess the current state, the issues faced in contingency management and evaluating the effectiveness of contingency in overcoming cost overrun problems in Indian construction companies. The study preferred a quantitative approach in capturing the required data by using structured questionnaires collected from 100 Indian construction companies (of contractors, vendors/suppliers, customers, and consultants) out of 335 companies with a response rate of 29.85%. This, along with archival data analysis of 50 Indian construction projects completed between Calendar Year (CY) 2014 to 2019. The captured data were analysed using simple statistical tools like Relative Importance Index (RII), mean score, standard deviation and ranking methods to ensure relevant results aligned with research objectives. The result findings of the study revealed that 60% of Indian construction companies preferred the traditional percentage method for contingency sum percentage addition to estimated project cost (a subjective approach based on the historical project performance) which may not be adequate in overcoming cost overrun problems. Archival data analysis found that contingency consideration was effective in accommodating cost overrun problems in 9 (18%) projects out of 50 projects. The study further found that contingency was utilised in an unplanned mode and having unclear contingency forecasting strategies. Based on result findings and observations, this study concludes that contingency should be estimated based on the scientific approach in place of a subjective approach to address project risks adequately, this along contingency consideration should be an integral part of the project risk assessment and should be effectively utilised during the execution stage.
Keywords: Contingency, Cost Overruns, Indian Construction Projects, Operational and Financial Performance, Project Risk.