Risk Planning and Management for the Panama Canal Expansion Program

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dc.contributor.authorAlarcon, Luis F.
dc.contributor.authorAshley, David B.
dc.contributor.authorde Hanily, Angelique Sucre
dc.contributor.authorMolenaar, Keith R.
dc.contributor.authorUngo, Ricardo
dc.date.accessioned2024-01-10T12:42:12Z
dc.date.available2024-01-10T12:42:12Z
dc.date.issued2011
dc.description.abstractIn April 2006, the Panama Canal Authority formally proposed a major expansion of the canal to increase its capacity and make it more productive, safe, and efficient. This proposal included cost and schedule estimates for completing the expansion and was supported overwhelmingly by the citizens of Panama in an October 2006 public referendum. Given the conceptual level of design at the time of the proposal and the inherent uncertainty in a project of this magnitude at the early stages of engineering, a comprehensive risk analysis was performed to develop a contingency model for the total expansion program cost and schedule. This contingency model is based on a Monte Carlo simulation of the cost and schedule estimates, taking into account the most significant risks identified for the project. The resulting model provides contingency assessments for duration and total cost and sensitivity analysis of the risks; it also allows for multiple scenario planning and ultimately supports overall risk management. This paper presents a project case study that focuses on the contingency model development and the resulting risk management and contingency resolution processes. DOI: 10.1061/(ASCE)CO.1943-7862.0000317. (C) 2011 American Society of Civil Engineers.
dc.fechaingreso.objetodigital2024-04-25
dc.format.extent10 páginas
dc.fuente.origenWOS
dc.identifier.doi10.1061/(ASCE)CO.1943-7862.0000317
dc.identifier.issn0733-9364
dc.identifier.urihttps://doi.org/10.1061/(ASCE)CO.1943-7862.0000317
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/77491
dc.identifier.wosidWOS:000296507700009
dc.information.autorucIngeniería;Alarcón L;S/I;100096
dc.issue.numero10
dc.language.isoen
dc.nota.accesocontenido parcial
dc.pagina.final771
dc.pagina.inicio762
dc.publisherASCE-AMER SOC CIVIL ENGINEERS
dc.revistaJOURNAL OF CONSTRUCTION ENGINEERING AND MANAGEMENT-ASCE
dc.rightsacceso restringido
dc.subjectConstruction costs
dc.subjectCost estimates
dc.subjectRisk analysis
dc.subjectUncertainty analysis
dc.subjectRisk management
dc.subjectCanals
dc.subjectScheduling
dc.subjectPROJECTS
dc.subjectCOST
dc.subject.ods09 Industry, Innovation and Infrastructure
dc.subject.odspa09 Industria, innovación e infraestructura
dc.titleRisk Planning and Management for the Panama Canal Expansion Program
dc.typeartículo
dc.volumen137
sipa.codpersvinculados100096
sipa.indexWOS
sipa.indexScopus
sipa.trazabilidadCarga SIPA;09-01-2024
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