Titlebook: Managing the Continuum: Certainty, Uncertainty, Unpredictability in Large Engineering Projects; Franco Caron Book 2013 The Author(s) 2013

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Real Options,Contrary to the traditional system engineering approach, which optimizes a fixed design based on a set of fixed specifications, once the system and its objectives are defined, the Real Option approach recognizes that changes are inevitable over time and purposefully introduces flexibility into the project in order to address them.

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Introduction to Project Risk,All projects are risky ventures since they are unique and temporary undertakings based on assumptions about the future, affected by risks and subject to the influence of multiple stakeholders.

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Project Risk Management,The process of project risk management aims at implementing suitable response actions for each single major risk that has been identified. To do this, we need a systematic approach to provide a comprehensive set of effective actions otherwise we will only be able to rely on the experience and imaginative capacity of the risk owner.

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https://doi.org/10.1007/978-88-470-5244-4Project Complexity; Project Flexibility; Project Management; Risk Management; quality control, reliabili

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Introduction,g economic performance, technical functionality, social acceptability, environmental sustainability, political legitimacy and economic development. Such projects need large capital investment, have long time horizons and often use non-standard technology.

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Large Engineering Projects Strategy,eir complex and uncertain environment and adapt their execution strategy to the ongoing changes. As a consequence, LEPs cannot be defined once and for all, rather they are shaped progressively from the initial concept by the dialectical interaction of stakeholders.

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Project Risk Analysis,o happen? what are the potential consequences if it does happen? In the succeeding phase risk management tries to answer such questions as: what can we do to respond to risks? what should we do? What should be the results of our actions?

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Quantitative Analysis of Project Risks,rovides insights into the joint impact of the overall uncertainty—both risk events and parameter variability—on the project. The focus moves from the single risk to the overall riskiness of the project.

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Franco CaronIntegrated view of subjects normally addressed separately i.e. project issues, project risks, unexpected events.Rigorously explains risk consideration in project planning, this capable to supplement e