Research On Risk Management Of Time Limit Of Constructional Project

The risk factors of a construction project are multitudinous and complex, and whose effects may be direct or indirect and explicit or implicit. Obviously each risk factor has a different effect on a certain engineering project. Avoiding a wrong decision, we must consider these factors as far as possible in detail. So the time limit for a project, as one of the three targets of an engineering-project management, must be carries on the risk analysis.Based on much reference and investigation, especially on the data of the global and unit engineering-organization design of the Zhongtai-International-Square construction project, the present paper firstly recognizes the risk factors, and then analyzes the effect of these uncertain factors on the time limit. Finally, the Monte Carlo simulation and PE related theory are employed to assess the risk of time limit. The probability graph, mean value and standard deviation on the time limit are obtained, and the global time limits on the key path are discussed when each risk factor is considered. After relevant analysis, the key risk factors are found, which are helpful for a project decision. The research is expected to present a valid risk-management method on the time limit for a construction project.