Modelling risk effect using Monte Carlo Technique: an application for innovative projects

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

Implementing construction innovation often involves experimentation, iteration and refinement of activities that are reliant on volatile information. Construction organisations should exhibit specific characteristics to promote new technology and to overcome the expected barriers to innovation in order to achieve the desired competitive advantage, pursue new markets and improve productivity. This chapter introduces a model to simulate the risk effect on the process of implementing technological innovations in construction. It includes the model hypothesis, techniques and its application on a case study.
Original languageEnglish
Title of host publicationIn: Ogunlana and Dey (Eds) Risk Management in Engineering and Construction: Tools and Techniques
Place of PublicationLondon
PublisherRoutledge
Chapter2
Number of pages26
Edition1st
ISBN (Electronic)9780203887059
DOIs
Publication statusPublished - 2019

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    Motawa, I. (2019). Modelling risk effect using Monte Carlo Technique: an application for innovative projects. In In: Ogunlana and Dey (Eds) Risk Management in Engineering and Construction: Tools and Techniques (1st ed.). Routledge. https://doi.org/10.4324/9780203887059