The Study of the Risk Early Warning and Monitoring for Hydraulic Construction Project

Abstract: With the Chinese economy developing quickly, the infrastructure construction investments are increasing rapidly and widely. These infrastructure construction projects, such as hydraulic projects, roads, bridges and so on, which mostly belong to large-scale construction projects, always need more investment, longer construction period, and are constructed in complicated natural environment and social circumstance, hence, they will face more risks. It is necessary to study the risk early warning and monitoring for large construction projects, which can track and control the practical progress situation of the project objectively and timely. This paper combined CPM/PERT in network technique with Earned Value Method (EVM), improved traditional Earned Value Method, and set up the risk early warning and monitoring model with multi-level Earned Value Method for the management of the large hydraulic construction projects. Multi-level Earned Value Method mentioned in this paper can make project managers not only know entirely project performance but also get reason information of sub-level projects through more analysis for project performance. What’s more, the model can detect and monitor the abnormal time and cost data in the period of large construction projects. Finally, the model in this paper was applied to the case of the Shenhua Coal Dock Project in Tianjin Port, which illustrated a good result…
Key words: Hydraulic construction projects; Risk; Early warning; Earned value; Monitoring