Automate risk assessment in capacity expansion project

Abstract

Risks assessment in capacity expansion project is governed by large number of complex factors. Traditionally, tools like risk registers, risk management spreadsheets, brain storming sessions, individual decisions and so on are used to identify risks in these projects. As a result, many risks remain unidentified, and avoiding failure becomes impossible. Our work aims to resolve this dilemma of decision maker by providing a tool based on text mining and ontology driven approach to assist a decision maker not only by providing all the risks and their prevention measures that can emerge after and during capacity building project but also by evaluating cost associated with them. By including the cost, our model is more realistic in practice. This paper introduces the software we prototyped to achieve our goal. © Springer-Verlag Berlin Heidelberg 2010.