Study on the Risk Management Framework of International EPC Cement Engineering Project

Abstract:

In view of of the numerous risk events negatively affecting the project schedule, expenses, performances and other expected projectresults in China’s practice in the international EPC cement engineering projects, and their respective causes，this paper conducts a systematic study of the key risk factors existing in construction environment, market operations, and implementation process of projects and proposes the Enginerring Risk Management Information System (ERMIS) of the international EPC engineering projects, together with its construction model, basic procedures, practical functions and applications, and in particular, the risk database to collect and process information about major risk factors, risk events and countermeasure in the cement engineering projects while the expert system will utilize the Risk Database, Integrated Assessment Software and expert intelligence to collect and process dynamic data related to the risk identification, assessment, decision-making and monitoring and control of an intended building engineering projects. The risk assessment model set up in this paper is to consider the implementation of the software in ERMIS to adopt the upgraded AHP-MFCE technology to solve problems related to the total risk evaluation in the engineering project based on multi-empowerment.

• Periodical: Advanced Materials Research (Volumes 446-449)
• Pages: 3842-3851
• DOI: https://doi.org/10.4028/www.scientific.net/AMR.446-449.3842
• Online since: January 2012
• Authors: Yi Bin Wang, Hai Jun Lou
• Keywords: AHP-MFCE Model, Enginerring Risk Management Information System, International EPC Cement Engineering Projects, Key Risk Factors

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