System and method for modeling construction risk using location-based construction planning models

Olli Seppänen (Inventor), Ilkka Pelkonen (Inventor), Tim Wessman (Inventor)

Research output: Patent

221 Downloads (Pure)

Abstract

A method for modeling construction risk is provided. The method includes providing a statistical model for each of a plurality of location-based tasks of a construction project model. A model parameter is randomly selected for each of the plurality of statistical models to generate a statistically-based duration for each of the location-based tasks. A schedule duration is then calculated using the statistically-based durations of the location-based tasks, and the steps of providing, randomly selecting, and calculating are repeated until a statistical distribution for the construction project model is generated, such as using a Monte Carlo analysis procedure.
Original languageEnglish
Patent numberUS 7,752,020
Priority date06/07/2010
Publication statusPublished - 2010
MoE publication typeH1 Granted patent

Keywords

  • risk
  • Location-based scheduling

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