Operations Research, Systems Engineering and Industrial Engineering Commons^™

Project-Risk Management And Decision Analysis In Maritime Maintenance And Repair, Michael C. Plumb, C. Ariel Pinto, Rafael Landaeta, Resit Unal, Thomas Murphy

Engineering Management & Systems Engineering Faculty Publications

The purpose of this paper is to provide insights regarding the implementation of using Project Risk Management (PRM) and Decision Analysis (DA) in managing projects for complex systems such as maritime vessels. The PRM approach apprehends many forms of risk both internal and external within a given project and assists the manager in determining the level of importance of each individual project phase and component to optimize project success. Ship Maintenance and Repair project decision-making requires that risk management and risk analysis techniques be applied in order to guide management in making better decisions to meet ship service life perspective. …