Decision Sciences
4 years ago

New system revolutionizes risk management in Iraqi construction projects.

Journal of Wasit for Science and Medicine
An investigation of a risk management decision support system for Iraqi construction projects
Sallama Sadik Jasim

Paper Summary

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The article investigates a system called Integrated Risk Management System (IRMS) for managing risks in Iraqi construction projects. The goal was to develop a tool to help project participants identify, analyze, and respond to risks effectively. The IRMS includes functions like risk analysis using Monte Carlo simulation, risk assessment, and response generation. The system was tested on three real construction projects in Iraq, and it successfully reduced high-risk situations to moderate levels.