Wang, Y-R (2002) Applying the PDRI in project risk management. PhD thesis, University of Texas at Austin, USA.
Abstract
Research conducted by the Construction Industry Institute (CII) shows that adequate pre-project planning benefits project in the areas of cost, schedule, and operational characteristics. Pre-project planning is the project phase encompassing all the tasks between project initiation to detailed design. The development of a project scope definition packages is one of the major tasks in the pre-project planning process. Project scope definition is the process by which projects are defined and prepared for execution. It is at this crucial stage where risks associated with the project are analyzed and the specific project execution approach is defined. Development of the Project Definition Rating Index (PDRI) in 1996 provided an effective and easy-to-use tool for project scope development for industrial projects. A complementary PDRI was developed for building projects in 1999. Since introduction, the PDRI (both versions) have been widely used by the construction industry and serve as an important tool for measuring project scope definition. The PDRI helps a project team to quickly analyze the scope definition package and predict factors that may impact project risk. However, since its introduction, little additional analyses have been conducted looking at the PDRI. Data from 140 capital projects representing approximately $5 billion in total construction cost were used for this research analysis. The relationship between good scope definition and enhanced project performance were demonstrated. Analysis of PDRI scores identified poor definition scope elements and quantified their potential impact to project outcomes. Risk control procedures were examined and recommended to mediate high risk areas, such as poorly defined scope elements. A systematic risk management approach was proposed and explained in detail. Research limitations, conclusions and recommendations are also discussed in this dissertation. This research effort extends the use of PDRI as a project management tool in the process of capital facility projects delivery.
| Item Type: | Thesis (Doctoral) |
|---|---|
| Thesis advisor: | Gibson Jr., G E |
| Uncontrolled Keywords: | project team; construction cost; project risk management; risk management; project performance |
| Index terms: | project scope definition, control procedure, project planning, package, Construction Industry Institute, project risk management, project outcome, construction cost, risk management, project performance, capital project, project scope, project management, project team, dissertation, construction industry |
| Subjects: | project completion, research dissemination and communication, risk assessment, research organizations, scope management, control systems, project delivery, financial and cost management, strategic project management, contractual arrangements, project management theory and practice, financial risk, industry analysis |
| Topics: | Cost Management, Research Practice, Project Management, Risk Management, Procurement |
| Descriptive scope: | 3 PCT |
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