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Uncertainty in Infrastructure Management

by Kingsley E. Haynes, ASCE, Denver, United States,
Fred Y. Phillips, ASCE, Denver, United States,
R. Srivastava, ASCE, Denver, United States,



Document Type: Proceeding Paper

Part of: Infrastructure: Planning and Management

Abstract:

The difference between committed costs and actual expenditure is a margin of control in project management. By using a measure of uncertainty we construct a cost-risk evaluation framework for assessing the Go/No Go decision at each stage of project implementation. This is a first step in operationalizing the information gain uncertainty reduction decision role in project management.

Subject Headings: Uncertainty principles | Project management | Construction management | Infrastructure construction | Infrastructure | Information management | Construction costs

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