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Risk planning for large and BOT projects : a holistic framework

University of British Columbia

Large engineering projects embody a number of special aspects and unique characteristics in comparison to smaller undertakings. Additionally, a growing number of large projects are undertaken employing the Build-Operate-Transfer (‘BOT’) approach, significantly increasing the project’s complexity. With the BOT model of project delivery, the private sector finances, builds and operates a revenue-generating project, usually one which would have traditionally been executed in the public sector. Despite the range of available risk assessment methods and techniques, significant aspects of the challenges which large and BOT projects face may be attributed to shortcomings in current risk planning processes. On larger projects, risk planning is important as risks are more numerous; additionally on BOT projects risks are not only more numerous, many are novel and longer-lasting. The unique aspects of large engineering projects were defined, with a view to provide guidance to participants. The ‘BOT’ project delivery process was examined, and through an examination of the approach, the six phases of ‘PEN-BOT’ were proposed (Propose, Evaluate, Negotiate, Build, Operate, Transfer) as a better description of the phases and the process. A survey illustrating the increasing popularity of the PEN-BOT approach was presented, including a detailed case study of the Channel Crossing project, outlining both the prevalence and the unique challenges of the such projects and lessons drawn from the problems encountered. The attitudes and perceptions of project participants respecting risk planning issues were surveyed in a working environment through a “Project Planning Issues Questionnaire”. The significant differences, amongst project participants, in risk and project planning attitudes and perceptions was revealed with a number of recommendations addressing these problems developed. A Holistic Risk Planning Framework was presented as a map of a process to address many issues which in themselves, are difficult to structure, particularly within the environment of large and PEN-BOT projects. The Framework defines an approach to formalize and organize risk planning processes with the benefits of identifying linkages, gaps and weaknesses in the planning process, and thus enhancing the project’s chance of success.

Thesis/Dissertation

application/pdf

2009-04-06

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http://hdl.handle.net/2429/6841

Civil Engineering

University of British Columbia

UBCV

DSpace