De Gruyter Handbook of Responsible Project Management by Beverly Pasian Nigel Williams

Author:Beverly Pasian, Nigel Williams
Language: eng
Format: epub
Publisher: De Gruyter
Published: 2023-11-15T09:21:26.090000+00:00

11.4.2.8 Risk Management

Risk management requires project managers to identify, assess, and control risks. AI will assist with this across the entire project lifecycle.

Through deep and convolutional neural networks, AI will scour online incident reports and risk registers and identify risks that align with the current project’s scale, complexity, and type (Krizhevsky et al., 2012). Through feature extraction and object recognition, AI will review BIM data to identify inherent safety issues within the design and automatically correct them or flag them for assessment by a designer (Tallgren et al., 2020). Once construction commences, AI will use image classification and captioning data, activity recognition, object detection and tracking, and wearable sensors to continuously monitor the site and workers to detect potential risks (Akinosho et al., 2020; Wonil et al., 2017; Yan et al., 2017).

A risk assessment will be completed by running real-time Monte Carlo simulations against these data. AI will constantly assess the probability of risks resulting in lost time, additional cost, or injuries (Kokkaew & Wipulanusat, 2014; Rezaie et al., 2007). By comparing these risks to risk registers from similar projects, AI will make data-driven assessment decisions regarding the likelihood and consequences of individual risks and prioritize the risk hierarchy.

Running concurrently with risk identification and assessment, AI can use analytical hierarchy processes (AHP) to propose or directly enact risk mitigation strategies such as adjusted contingencies (Mohamed et al., 2009), deactivation of site-based plant and equipment, safety alerts to individuals at risk through innovative, wearable devices (Wonil et al., 2017). Concurrently, “scrapers” will constantly review new safety codes and legislation and incorporate these into risk registers, designs, and specifications for future reference.

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