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There is an important relationship between construction costs and schedule, a more appropriate schedule causes less cost risks. In such cases, a more acceptable construction cost-risk analysis model that takes into account of schedule risks should be applied. In this paper, the construction schedule-cost risk is defined and based on Bayesian network a schedule-cost risk analysis model is established which can process qualitative information and quantitative information, especially can reveal the relationship between schedule-cost risk factors easier. And Bayesian network inference is utilized to analyze and forecast the risks of construction schedule-cost, which helps decision-makers to control the schedule risks and cost risks.
Information Science and Management Engineering (ISME), 2010 International Conference of (Volume:2 )
Date of Conference: 7-8 Aug. 2010