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Business, Finance & Law      Management

Risk-Based Project Decisions in Situations of High Complexity and Deep Uncertainty

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Book Details
Language
English
Publishers
Springer; 2024th edition (7 Jun. 2024)
Weight
0.75 KG
Publication Date
11/07/2024
ISBN-10
3031569873
Pages
409 pages
ISBN-13
9783031569876
Dimensions
15.6 x 2.39 x 23.39 cm
SKU
9783031569876
Author Name
Yuri G. Raydugin (Author)
Dr. Yuri Raydugin is Principal Consultant of Risk Services & Solution Inc., a Canadian consulting company. Yuri worked for Saudi Aramco, Royal Dutch Shell, TransCanada Pipelines, and SNC-Lavalin, managing risks of several megaprojects. He has been involved in risk management of projects with combined budget of about $150B. Depending on project context, Yuri applies a variety of risk management methods and tools, both deterministic (scoring) and probabilistic (Monte Carlo), to make the risk management process most effective and efficient. Full engagement of project teams is a cornerstone of his approach.Yuri has an engineering degree in nuclear physics from Urals Polytechnics Institute, Russia, a PhD in physics and mathematics from Russia's Academy of Sciences, and an MBA in business strategy from Henley Management College in England. He is a member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA) and Saudi Council of Engineers (SCE). Yuri is the author of several articles on project risk management as well as on various aspects of physics. He is the author of ‘Project Risk Management’ (2013) and the editor of ‘The Handbook of Research on Leveraging Risk and Uncertainties for Effective Project Management’ (2016). Yuri is an associate editor of International Journal of Risk and Contingency Management (IJRCM) and a distinguished reviewer of publications for International Journal of Project Management (IJPM). Born and raised in Ekaterinburg, Russia, Yuri lives and works in Calgary, Alberta, Canada.Read more about this authorRead less about this author
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This book integrates for readers three areas of knowledge, pertaining to risk-based project decision making: project risk management (PRM), complexity theory, and decision-making under deep uncertainty (DMDU). Readers will appreciate that in practice, too often relevant complexity and uncertainty factors are either ignored or overlooked resulting in epic project failures.

The author discusses a variety of methodologies and a decision-tree-type framework to determine why, when and how particular methodologies should be applied to ensure project success. These include nonlinear Monte Carlo techniques, a dynamic adaptive methodology to adapt to external environment changes, game theory for devising robust decision-making criteria, systems dynamics and cost escalation modelling, as well as risk-based & economic-based alternatives selection methodologies.

This book will be an eye-opener for many PRM practitioners, helping to increase their chances of project success by properly handling inescapable project-complexity and deep-uncertainty implications in specific contexts. .

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