COLLEGE OF ARTS AND SCIENCES

SQIT 3033 Knowledge Acquisition In Decision Making (Group A) Data Mining On Risk Management of Construction Project
Prepared By: MUHAMMAD ZULQARNAIN HAKIM BIN ABD JALAL (212476) Prepared For: Dr. Izwan Nizal Mohd Shaharanee Due Date : 6 March 2014

Issue : Risk Management of Construction Project

INTRODUCTION In all construction projects, there is no such thing as perfect. It will be constrained by its budgets, workers, rules and regulations, contractors issues and sometimes also involve its top management issues. All of these constraints affect the construction management and make it complicated to handle and overcome. For the big company such as Malakof, many historical data that will help the managers to make decision in the future are stored in construction enterprises. In order for authorized person to get access into the historical data efficiently, it is compulsory to having the data warehouse and data mining applications and the appropriate technologies. Many construction projects have been ruined by risk and have not always been dealt with adequately, which are resulted in poor performance with increasing costs and time delays. It is worthwhile to research in this particular field to manage the risk in construction project. DATA MINING AND RISK MANAGEMENT In risk management process, there are five important elements to be focus on. There are, risk identification, risk analysis, risk handling, risk monitoring and risk assessment. Figure 1 below shows the main process model on project risk management on data mining. Data mining has been an important tool in finding the correlation or uncertainty of risk factors.

Figure 1 The main process of data mining on construction risk management a) Identify object

In this stage, several questions should be confirmed, such as, where to start with, which and how many data to be collected, which extent to be reached by data mining. We cant predict the result by the data mining, but at least we can get the problem that we want to solve. b) Data preparation Due to the method of getting the data in an ad hoc manner, sometimes there are errors or mistakes in the data entry. Maybe the data is in incomplete state. This will effects the process of data mining and can cause to failure. c) Establish model An analysis model can be established, which the model is mimicking the actual problem and also shows the algorithm. Establishment of data mining model should be started with analysis of data. d) Data mining Data mining could be self-accomplished through data mining tool except selecting appropriate algorithm. Interpretation and evaluation should be implemented after the result of data mining comes out. Proved theoretic knowledge, experiential knowledge and testing set could be applied to analysis the result of data mining. e) Knowledge application Lastly, after the result comes out, the knowledge could be applied to the situation. In this case, the knowledge gains by the data mining process could be used in practice to handle and overcome the risks in construction project.

REFERENCES

V.Carr, J.H. Tah. (2001). A Fuzzy Approach to Construction Project Risk Assessment and Analysis: Construction Project Risk Management System, Advances in Engineering Software.