Schedule risk analysis in offshore development project

Every project has its own risks. One of the common risk during project execution is the risk associated with scheduling. The important issue facing project scheduling is the inability to incorporate uncertainty of activity duration into the schedule. Delays in completing continuous process industry...

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Main Author:	Hermanto, Budi
Format:	Thesis
Language:	English
Published:	2010
Subjects:	TA Engineering (General) Civil engineering (General)
Online Access:	http://eprints.utm.my/id/eprint/15306/13/BudiHermantoMFKA2010.pdf
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id	my-utm-ep.15306
record_format	uketd_dc
spelling	my-utm-ep.153062017-09-19T03:45:10Z Schedule risk analysis in offshore development project 2010-12 Hermanto, Budi TA Engineering (General). Civil engineering (General) Every project has its own risks. One of the common risk during project execution is the risk associated with scheduling. The important issue facing project scheduling is the inability to incorporate uncertainty of activity duration into the schedule. Delays in completing continuous process industry projects such as oil and gas offshore development projects can cause millions of dollars of foregone income per day. The aim of this study is to investigate the implementation of schedule risk analysis in oil and gas offshore development projects. By performing schedule risk analysis, the uncertainty in activity duration as well as the implication to the project schedule can be mitigated. The methodologies adopted for this study include questionnaire survey, interview and case study. The finding of the study has identified the high risk factors that commonly contribute to the schedule delay. It is also determined that by conducting schedule risk analysis by using Pertmaster software, the schedule overrun for specific project can be predicted with some degree of accuracy which cannot be done in traditional CPM scheduling. It is hope that this study can be useful for the project team to prevent the risk occurrence by performing effective risk mitigation. 2010-12 Thesis http://eprints.utm.my/id/eprint/15306/ http://eprints.utm.my/id/eprint/15306/13/BudiHermantoMFKA2010.pdf application/pdf en public masters Universiti Teknologi Malaysia, Faculty of Civil Engineering Faculty of Civil Engineering Aven, Terje and Vinnem, Jan Erik (2007). Risk Management with Applications from the Offshore Petroleum Industry. Springer – Verlag London Limited. Ben C. Gerwick, Jr. (1995). Construction of Marine and Offshore Structures. Ben C. Gerwick Inc., San Francisco, California, USA. Borell, G. S. (1980). Construction Planning – Beyond the Critical Path. Journal Construction Division, ASCE, 106, 389-407. Browning, Tyson, R. (1998). Source of Schedule Risk in Complex System Development, Proceeding of the Eight Annual International Symposium on INCOSE, Vancouver. Casman, W. (1995). Why Schedule Slip. AFIT, Wright – Patterson AFB, Ohio. Cooper, K. G. (1994). How Managers Influence Project Performance Through Rework Cycle. PMJ., XXV(1), 11-24. Dale F. Cooper, Stephen Grey, Geoffrey Raymond and Phil Walker. (2005). Project Risk Management Guidelines. John Wiley & Sons Ltd, England. Diekmann, J. E., Sewester, E. E., and Taher, K (1988), Risk Management in Capital Project. Rep. to the CII, Source Document 41, University of Colorado at Boulder, Colo. El Gafy, Mohammed (2003). Risk Analysis for Design-Build Construction Project. Illinois State University. Hulet, David (2009). Practical Schedule Risk Analysis. England, Gower Publishing Company. Justin Bong Chunn Tat, J. (2009). Factors affecting in the Preparation of Construction Work Schedule, Faculty of Civil Engineering, Universiti Teknologi Malaysia. Kliem, Ralph L. and Ludin, Irwin S. (1997). Reducing Project Risk. Gower Publishing Limited, England. Mccabe, Brenda, (2003). Monte Carlo Simulation for Schedule Risk. Proceeding of the 2003 Winter Simulation Conference. Department of Civil Engineering, University of Toronto. Mulholland, B. and Christian, J. (1999). Risk Assessment in Construction Schedules, Journal of Construction Engineering and Management, 8-15. Pertmaster Risk Analysis. (2009), Oracle Primavera. Project Management Institute. (1994), Project Management Body of Knowledge. Stephen Grey. (1995). Practical Risk Assessment for Project Management. John Wiley & Sons Ltd, England. Thompson, P., and Perry, J. (1992). Engineering Construction Risks. Thomas Telford, London.
institution	Universiti Teknologi Malaysia
collection	UTM Institutional Repository
language	English
topic	TA Engineering (General) Civil engineering (General)
spellingShingle	TA Engineering (General) Civil engineering (General) Hermanto, Budi Schedule risk analysis in offshore development project
description	Every project has its own risks. One of the common risk during project execution is the risk associated with scheduling. The important issue facing project scheduling is the inability to incorporate uncertainty of activity duration into the schedule. Delays in completing continuous process industry projects such as oil and gas offshore development projects can cause millions of dollars of foregone income per day. The aim of this study is to investigate the implementation of schedule risk analysis in oil and gas offshore development projects. By performing schedule risk analysis, the uncertainty in activity duration as well as the implication to the project schedule can be mitigated. The methodologies adopted for this study include questionnaire survey, interview and case study. The finding of the study has identified the high risk factors that commonly contribute to the schedule delay. It is also determined that by conducting schedule risk analysis by using Pertmaster software, the schedule overrun for specific project can be predicted with some degree of accuracy which cannot be done in traditional CPM scheduling. It is hope that this study can be useful for the project team to prevent the risk occurrence by performing effective risk mitigation.
format	Thesis
qualification_level	Master's degree
author	Hermanto, Budi
author_facet	Hermanto, Budi
author_sort	Hermanto, Budi
title	Schedule risk analysis in offshore development project
title_short	Schedule risk analysis in offshore development project
title_full	Schedule risk analysis in offshore development project
title_fullStr	Schedule risk analysis in offshore development project
title_full_unstemmed	Schedule risk analysis in offshore development project
title_sort	schedule risk analysis in offshore development project
granting_institution	Universiti Teknologi Malaysia, Faculty of Civil Engineering
granting_department	Faculty of Civil Engineering
publishDate	2010
url	http://eprints.utm.my/id/eprint/15306/13/BudiHermantoMFKA2010.pdf
_version_	1747814991444049920

Schedule risk analysis in offshore development project

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