Название: Risk and Systems: With Applications in Infrastructure Project Management
Автор: David G. Carmichael
Издательство: CRC Press
Год: 2023
Страниц: 207
Язык: английский
Формат: pdf (true)
Размер: 10.17 MB

Risk is related to the magnitude and uncertainty of an output (consequence or outcome); outputs take on different identities in different disciplines and situations. Risk is peculiar to each stakeholder and the measurement scale for risk depends on the stakeholder’s value system. Risk management provides a way of addressing the issues associated with the magnitude and uncertainty of outputs. This book provides a distinctively rational treatment of risk and risk management, based on a systems approach. The book’s treatment applies to all disciplines and sets out the principles of risk and risk management as well as looking at a range of applications and more specialist tools and approaches.

Risk management (RM) is practised by everyone in both their personal and working lives. Personal risk management tends to be informal, while risk management in the workplace tends to be formal or semi-formal. Informal and formal risk management follow the same steps but to different levels of structure, accuracy and rigour. However, few people really understand the underlying basis of risk management; in many cases, workplace risk management is carried out unthinkingly by numbers or by rote. There is also some disarray present in the practice of risk management brought about by not only this lack of understanding but also by non-agreement on terminology. This may not be a serious issue when it comes to personal risk but, in the workplace, there are commercial, legal, safety and other imperatives which need to be argued rationally and transparently.

The book gives a cohesive, supportable and internally consistent treatment of risk and risk management. Explanations are given of the ‘why’ behind the elements of risk management. The book shows that many cur rent practices relating to risk management are deficient and what needs to be changed in order to make any risk management rigorous.

The book:

- Develops a risk framework through a systems approach
- Offers a challenging and fresh approach for infrastructure engineering, construction and project management in general

The book will suit students and practitioners alike.