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The Study of Applying GE4R Managing and Controlling System to Manage the Risk of Building Project

Author: YinAiGuo
Tutor: PanShi; LiHui
School: Jilin University
Course: Project Management
Keywords: GE4R managing and controlling system project risk management technologyimprovement project
CLC: F284
Type: Master's thesis
Year: 2013
Downloads: 2
Quote: 0
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Abstract


In recent years, with the prosperity of large numbers of engineering projects, theinvestment and development of projects are faced with increasing problems and risks.The engineering projects require a great deal of labor force, material resource, as wellas large financial resource, and are characterized by complex personnel arrangement,material mixing and turnover of funds. Once the project managers can’t identify thepotential risk of the project and take measures to solve it, the project is likely to sufferfrom failure. In China, there are a few large engineering projects suffering finalfailure due to inadequate risk prediction of the managers, which causes great lossesand exerts a bad influence in the long term. Therefore, risk management is a veryimportant part in the management of engineering projects.A lot of manpower, material and financial resources are required to develop anengineering project, which is of extremely complex characteristics regardingpersonnel arrangement, material allocation, capital turnover, etc. If the projectmanager fail to recognize the potential risks of the project and to take measures tohandle them, the project is likely to suffer failure. Therefore, project risk managementplays a very important role in engineering project management. GE4R managementcontrol system incorporates the essence of the management thoughts of GeneralElectric Company. It can be used for scientific management control of a project atthree stages: beforehand, concurrently and afterwards in order to reduce the risk ofproject failure to the lowest possible level. GE4R management control system hasbeen proved to be an effective and advanced management mode in management ofvarious large-scale projects. This paper aims at combining a variety of researchmethods and making multi-angle case analysis of applying GE4R managementcontrol system to the expansion project of one factory to explore its principle ofeffectiveness in handling various risks in the project of factory’s technologicalupgrading, thereby bring about the generalized effects of GE4R in other types ofengineering projects and prove its universality and effectiveness in managementcontrol of various project risks. With in-depth case analysis and a certain amount of relevant information, the paper comes to a conclusion that GE4R management controlsystem is of high value of application and is worthy of promotion in the industrybecause it not only can be used to manage companies, but also to manage projects andrisks.

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