Facial reconstruction

Search LJMU Research Online

Browse Repository | Browse E-Theses

A tool for integrating time, cost and quality perspectives in Probability Impact (P-I) Tables

Demir, ST, Bryde, DJ, Fearon, DJ and Ochieng, EG (2015) A tool for integrating time, cost and quality perspectives in Probability Impact (P-I) Tables. International Journal of Project Organisation and Management, 6 (4). ISSN 1740-2905

A tool for integrating time cost and quality perspectives.pdf - Published Version

Download (297kB) | Preview


One widely documented tool for project risk analysis is the Probability-Impact (P-I) Table, which assesses the probability of occurrence of a risky event and its likely impact on the project objectives, which are typically articulated in terms of cost, time and quality. Whilst there are numerous adaptations of the P-I Table, they are all consistent in treating the project objectives as independent and unrelated variables. This is a major limitation of the tool and reduces the P-I Table’s practical applicability, as in most project contexts the probabilities and impacts of a risky event on the project objectives will be inter-related. To address this limitation, this paper presents a new tool that uses vector theory to enable a single calculation of the overall probability and impact, incorporating the perspective of all three objectives. The tool is illustrated through a practical application to a real case construction project.

Item Type: Article
Uncontrolled Keywords: 1202 Building, 1503 Business And Management
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management
T Technology > TH Building construction
Divisions: Civil Engineering & Built Environment
Publisher: Inderscience
Date Deposited: 08 Dec 2016 12:33
Last Modified: 04 Sep 2021 14:41
DOI or ID number: 10.1504/IJPOM.2014.066410
URI: https://researchonline.ljmu.ac.uk/id/eprint/437
View Item View Item