Does Lost Time Cost You Money and Create High Risk?

Fekete, István (2012) Does Lost Time Cost You Money and Create High Risk? In: Project Management Development – Practice and Perspectives: First International Scientific Conference on Project Management in the Baltic Countries, 2012.02.12., Riga.

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Official URL: http://www.evf.lu.lv/pmconf2012/

Abstract

The aim of the case study is to express the delayed repair time impact on the revenues and profit in numbers with the example of the outage of power plant units. Main steps of risk assessment: • creating project plan suitable for risk assessment • identification of the risk factors for each project activities • scenario-analysis based evaluation of risk factors • selection of the critical risk factors based on the results of quantitative risk analysis • formulating risk response actions for the critical risks • running Monte-Carlo simulation [1] using the results of scenario-analysis • building up a macro which creates the connection among the results of the risk assessment, the production plan and the business plan.

Item Type:

Conference or Workshop Item (Lecture)

Uncontrolled Keywords:

risk assessment, outage, maintenance, project implementation plan, scenario analysis, Monte-Carlo Simulation

Divisions:

Faculty of Business Administration > Institute of Management > Department of Strategic Management

Subjects:

Management, business policy, business strategy

ID Code:

640

Deposited By:

EJ T