Ahuja, H N and Arunachalam, V (1984) Risk evaluation in resource allocation. Journal of Construction Engineering and Management, 110(3), pp. 324-336. ISSN 0733-9364
Abstract
Conventional resource allocation procedures implicitly assume that the availability of resources is certain. In real life situations, their availability is, at times, uncertain. A Risk Evaluation Model (REM) is proposed to systematically evaluate the uncertainty of resource availability and generate several alternatives having varying project completion time, cost, and performance probability. REM can aid a contractor in “bid/no-bid” decision-making, an entrepreneur in investment decision-making, and a consultancy organization in corporate planning.
| Item Type: | Article |
|---|---|
| Index terms: | consultancy, resource allocation, investment decision-making, corporate planning, decision-making, completion time, bid/no-bid |
| Subjects: | business, organization, bidding, cognitive psychology, resource management, decision analysis, project controls |
| Topics: | Governance, Time Control, Site Management, Business Strategy, Organizational Design, Risk Management, Procurement |
| Descriptive scope: | 2 PC |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here