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Bayesian Network Inference on Risks of Construction Schedule-Cost

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1 Author(s)
Junyan Liu ; Inst. of Eng. Manage., Hohai Univ., Nanjing, China

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.

Published in:

Information Science and Management Engineering (ISME), 2010 International Conference of  (Volume:2 )

Date of Conference:

7-8 Aug. 2010