HOWBIGDATAMAKESCONSTRUCTIONPROJECTRISKINTACT15November20144thICUMASBeijing15November20144thICUMASBeijingRundown(20minutes)WhatisBigDataPitchingonBigDatainHongKongExperienceinaHKlocaluniversityHabitofBigDatapractitionersSomeinterpretationonBigDataEpistemologyValueofBigDataRiskManagementatlargeCorrelationforriskidentificationConstructionHolisticRiskManagement15November20144thICUMASBeijingManagementconceptInfrastructureconceptWhatisBigData?15November20144thICUMASBeijingScatterDiagramWhatisBigData?15November20144thICUMASBeijingBoxPlotWhatisBigData?15November20144thICUMASBeijingBuyausedcar:Step1-GettherawdataYearofmanufacturingOdometerreadingPriceStep2-CleaningupthedataSomeentrieshavewronginformation,someentriesareincomplete.Thereare2002modelslistedfor10lakhs,suchentriesarenotgenuineentries.SoIsortedthedata,foundallsuchentriesanddeletedthem.NowIamleftwithanexcelsheetofaround1000listings.Step3-VisualizingandanalysingWhatisBigData?15November20144thICUMASBeijingWhatisBigData?15November20144thICUMASBeijingWhatisBigData?15November20144thICUMASBeijingStep4-DrawingInferencesSincethepriceofthecardepreciatessharplyduringitsinitialyearsitbettertofindacarthatisaround5yearsold.InthecaseofHondacitythebestdealwouldbecar2007or2008modelthathasnotdonemorethan75,000KMs.Youcandrivethatcarforanother5yearsand75,000KMswithoutlosingalotofitsvalueStatisticalandBayesianinterpretationWhatisBigData?WhatisBigData?15November20144thICUMASBeijing15November20144thICUMASBeijingWhatisBigData?BigDataandepistemologyLucianoFloridisuggestthatscientistsbealerttotheopportunityofdetectingthe‘patterns’(and‘absenceofpatterns’)inthedataasawaytoadvanceknowledge(Floridi,2012).Hewrites“…thepressure…on…geneticsormedicine,experimentalphysicsorneuroscience,istobeabletospotwherethenewpatternswithrealaddedvaluelieintheirimmensedatabasesandhowtheycanbestbeexploitedfor…theadvancementofknowledge.(Floridi,2012)InPlato'sterminologyepisteme(Fricke,2014)meansknowledge,asin"justifiedtruebelief",incontrasttodoxa,commonbelieforopinion.Thewordepistemology,meaningthestudyofknowledge,isderivedfromepisteme.Floridi,L.(2012).BigDataandtheirepistemologicalchallenge.PhilosophyofTechnology,25(4),435-437.Frické,Martin(2014)."Bigdataanditsepistemology." JournaloftheAssociationforInformationScienceandTechnology .15November20144thICUMASBeijingWhatisBigData?15November20144thICUMASBeijingReductionism–anewroletoBigDataWhatisBigData?15November20144thICUMASBeijingValueofBigData找到不变(knowledge)随机应变(agility)WhatisBigData?15November20144thICUMASBeijingRiskmanagementpracticesaremainlyconcerning:•Perceptionsofthetypicaltowardsconstructionriskallocation,andtheimportanceofdifferentriskcategories[13];•Usageoftechniquesatdifferentriskmanagementstages[2];•Usageofriskmanagementtechniquesandbarrierstoriskmanagementinengineeringconstructionindustry[16];•Generalcontractors’perceptiononrisksandtheuseofriskmanagementtechniques[1];•Contractors’applicationofvariousanalyticaltechniquesforriskassessment[18];•VariousrisksperceivedbythecontractorsinChineseconstructionmarket[9];•CriticalrisksassociatedwithChina’sbuild-operate-transferBOTprojectsandtheeffectivenessofmitigationmeasures[22];•PerceptionsofriskallocationintheconstructionindustryofmainlandChinaandHongKong[17];•AllocationofriskinPPP/PFIconstructionprojectsintheUnitedKingdom[4];•Contractualriskandliabilitysharinginhydropowerconstruction[6];•Practicesofusingriskmanagementapproachesinselectedindustries[20];•Riskmanagementservices,tools,andtechniquescurrentlyusedbyconsultants[23];•Riskmanagementintheconceptualphaseofaproject[21].RiskManagementatlargeDecisionmakingCorrelationforriskidentificationImportanceofRiskMuchtimeinconstructionmanagementisspentfocusingonrisksManypracticesinconstructionaredrivenbyriskBondingrequirementsInsuranceLicensingContractstructureGeneralconditionsPaymentTermsDeliveryMethodSelectionmechanismCorrelationforriskidentificationProjectRiskManagementFEASIBILITYDESIGNPLANNINGCLOSEOUTDEVELOPMENTOPERATIONSCorrelationforriskidentificationFinancing&EvaluationRiskAnalysis&AttitudeRiskManagementPhaseFEASIBILITYDESIGNPLANNINGCLOSEOUTDEVELOPMENTOPERATIONSRISKMgtRiskmanagementAssessment,trackingandcontrolTools:RiskHierarchicalmodeling:RiskbreakdownstructuresRiskmatrixesContingencyplan:preventivemeasures,correctiveactions,riskbudget,etc.CorrelationforriskidentificationRiskAssessmentSchemeforqualitativeandquantitativeassessmentsAtallsteps,riskreducingmeasuresneedtobeconsideredCorrelationforriskidentificationSystemdefinitionHazardidentificationAnalysisofaccidentscenariosConsequenceanalysisandmodellingEstimationofaccidentfrequenciesRiskestimationRiskAnalysis–MainStepsCorrelationforriskidentificationRiskAnalysisHazardIdentificationHazard&ScenarioAnalysisLikelihoodConsequencesRisk”Whatif”ChecklistsHAZOPTaskanalysisIndex(Dow,Mond)RiskAnalysis–MainStepsCorrelationforriskidentificationRiskAnalysisHazardIdentificationHazard&ScenarioAnalysisLikelihoodConsequencesRiskFaulttreeanalysisEventtreeanalysisBowtiesBarrierdiagramsReliabilitydataHumanreliabilityConsequencemodelsRiskAnalysis–MainStepsCorrelationforriskidentificationRiskAnalysisHazardIdentificationHazard&ScenarioAnalysisLikelihoodConsequencesRiskIdentifySafetyBarriersSomeRisksWeatherchangesDifferentproductivity(Sub)contractorsareUnreliableLackcapacitytodoworkLackavailabilitytodoworkUnscrupulousFinanciallyunstableLatematerialsdeliveryLawsuitsLabordifficultiesUnexpectedmanufacturingcostsFailuretofindsufficienttenantsCommunityoppositionInfighting&acrimoniousrelationshipsUnrealisticallylowbidLate-stagedesignchangesUnexpectedsubsurfaceconditionsSoiltypeGroundwaterUnexpectedObstaclesSettlementofadjacentstructuresHighlifecyclecostsPermittingproblems…CorrelationforriskidentificationAnalysisUsingDecisionTreesDecisiontreesareapowerfulanalysistoolExampleanalytictechniquesStrategyselection(MonteCarlosimulation)One-wayandmulti-waysensitivityanalysesValueofinformationCorrelationforriskidentificationExample-CompetingBidTreeCorrelationforriskidentificationMonteCarlosimulationMonteCarlosimulationrandomlygeneratesvaluesforuncertainvariablesoverandovertosimulateamodel.It'susedwiththevariablesthathaveaknownrangeofvaluesbutanuncertainvalueforanyparticulartimeorevent.Foreachuncertainvariable,youdefinethepossiblevalueswithaprobabilitydistribution.Distributiontypesinclude:AsimulationcalculatesmultiplescenariosofamodelbyrepeatedlysamplingvaluesfromtheprobabilitydistributionsComputersoftwaretoolscanperformasmanytrials(orscenarios)asyouwantandallowtoselecttheoptimalstrategy…CorrelationforriskidentificationSensitivityAnalysisCorrelationforriskidentification15November20144thICUMASBeijingConstructionHolisticRiskManagementQuestionsAllriskitemsaredeterministicinnature?Heuristic?Howaboutrisksthatwedonotknow?AnycaseofButterflyeffect?“Whatif”thatwedonotknow!15November20144thICUMASBeijing•Read:Initialprocessing,performsentityandfactextraction.SuspiciousActivityReports(SARs)areprocessedandkeyinformation(financialtransactions,accountnumbers,accountowners,addresses,financialtransactions,etc.)isautomaticallyidentifiedbybigdata’smachinelearningroutines;.•Resolve:Assemble,organizeandrelateinformation.Resolveentities,performscategorizationandidentifiessimilarities.KeyinformationwithintheSARisresolvedandcorrelatedwithdatacontainedinaglobalknowledgebaseprovidingaholisticviewofnetworkandrelationshipconnectivity.•Reason:Uncover,compareandcorrelateinformation,performtemporalandgeospatialreasoningandproduceaprivateknowledgegraph.Linkagestoriskitemsareuncoveredandsurfacedinaneasy-to-understandformat.ConstructionHolisticRiskManagement15November20144thICUMASBeijingCo-occurrencenetworksaregenerallyusedtoprovideagraphicvisualizationofpotentialrelationshipsbetweenpeople,organizations,conceptsorotherentitiesrepresentedwithinwrittenmaterial.Thegenerationandvisualizationofco-occurrencenetworkshasbecomepracticalwiththeadventofelectronicallystoredtextamenabletotextmining(contractandclaimsreports).ConstructionHolisticRiskManagement15November20144thICUMASBeijingDimensionalAnalysis&Similarity•Dimensionalanalysisisveryusefulforplanning,presentation,andinterpretationofexperimentaldata.•Dimensionalanalysisisamethodforreducingthenumberandcomplexityofexperimentalvariablesvariablesthataffectagivenphysicalphenomena.ConstructionHolisticRiskManagement19November2014LinkpredictionConstructionHolisticRiskManagement19November2014CasualmodelingConstructionHolisticRiskManagement19November2014ConstructionHolisticRiskManagement19November2014ConstructionHolisticRiskManagementREFERENCES 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