Abstract:
In times of a project-based industry and blooming construction in Albania, the
experience and clear objectives of a project manager definitely make possible the
success of the project. As construction industry in Albania is mostly working with
design-build fixed-prize contracts and on the other hand the economy is still in a
transition phase, it is very important for the project managers to manage the risks
related with the construction phase.
The review on existing literature found out a lack of existing models for risks
management, especially related to the resource categories, therefore our research
focuses in creating an analytical model that can help the project managers clearly
define and analyse the risks before the construction phase. An interview with five
project managers clarified the need of using an analytical model and gave the
possibility to validate it through the use of a real case study project. The insightful
model created experienced the contextual investigation examination with the
utilization of virtual products like Microsoft Project, Excel and Palisade @Risk which
utilizes Monte Carlo reproduction. Once the analysis was conducted, its results were
compared with the data from the real project results and a final interview with the
project manager was made, in order to check if this analysis could have been benefitial
for the company if conducted before.
Even though the model was validated, it cannot be generalized as a model to be
used in every type of project, so future works need to offer a further validation through
other real case projects.
