8 An Introduction to Managing Risk in LEPs

LEPs, such as airports, urban-transport systems, oil fields, and power systems, constitute one of the most important business sectors in the world. These projects tend to be massive, indivisible and long term artifacts, with investment taking place in waves. Their effects are felt over many years, especially as auxiliary and complementary additions are made.

Miller and Lessard (2000)

This chapter provides an introduction to large engineering projects (LEPs) and managing risks in LEPs. A LEP contains a hierarchy of projects and systems. In particular, the chapter discusses:

  1. LEPs in Section 8.1.

  2. Risks in LEPs in Section 8.2.

  3. The LEP lifecycle in Section 8.3.

  4. Risks based on the non-availability of ...

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