Homework 6 - Homework 6 CEE 498 Construction Management...

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Homework 6 CEE 498: Construction Management Russel, Fall 2008 Industrial & Systems Engineering University of Wisconsin – Madison
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CEE 498 Construction Program Management Homework #6 Refer to attachment #1 (Homework #06 - Risk and Risk Management 2: Attachment1) 1. The “Better Schedule Performance” model includes the following: z = -4.717 + 0.904 x Respondent x Contract x PM education level + 3.409 x Constructability program -19.31 x Respondent x Team Turnover rate + 0.055 X Budget updates a. Calculate the probability of success given the following values: contractor, reimbursable contract, PM education 6 years, no constructability program, team turnover of 10%, and 12 budget updates per year. Z = -4.717 + 0.904*(1)*(0)*(6) + 3.409*(0) -19.31*(1)*(0.1) + 0.055*(12) =  - 5.988 P(Success) =  e -5.988 /(1+e -5.988 ) 0.0025 = .25% chance of success b. What specific advice can be given to increase the probability of success? - In order to increase their probability of Success, the firm should attempt to increase their Z value. Ways to do this would be to implement a
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