Construction projects are characterized as very complex projects, where uncertainty comes from various sources. Construction projects gather together hundreds of stakeholders, which makes it difficult to study a network as a whole. But at the same time, these projects offer an ideal environment for network and risk management research. Additionally, construction projects are frequently used in management research, and several different tools and techniques have already been developed and especially for this type of project. However, there is a gap between risk management techniques and their practical application by construction contractors.
Although there are expectations, many development projects encounter cost overruns and schedule slippage, and some also have performance degradations. Such development problems can lead to adverse impacts during the production phase as well.
Risk Management is essential for a wide variety of development and production programs because certain information about key project cost, performance, and schedule, attributes can often uncertain or unknown until late in the program.For these reasons, PROMIS seeks to maximize the probability and consequences of positive events and to minimize the probability and consequences of adverse events. Our goal is to prevent or reduce risk in a cost-effective manner without compromising quality or harming the mission. We will also help you to decide whether the strategies you could use to control risk are cost-effective.PROMIS’ Risk Management Services will help your organization to the: