Establishing the Main Risks of Serious Problem Projects - Dissertation Example

We analyzed the data obtained from the interviews statistically and noted that the main limitations of the cyclic causal model relate to the characteristic differences between the derivative and accelerating events when dealing with complex situations and its inability to provide a concrete solution to solving problems related to the derivative and accelerating events.

In view of the interventions of the building code and regulations, it is possible to cope with critical risk areas for various structural needs. Using the causal models of risk management, professional building and construction bodies have formulated several interventions for the industry for risk elimination and management. The seriousness of the risks involved in the building and construction industry border heavy financial losses for project clients and puts the safety of people frequenting the structure as well as the members of the general public using the structure at risk. The nature and application of the construction projects and their unique demands in terms of professional regulation raise questions relating to technical engineering considerations or ordinary project management. 

One of the risk management interventions that have been extensively applied in various industries is the cyclic causal model. The cyclic causal model that targets the identification of risks and their elimination long before the commencement of the project seems to have a number of inherent limitations.  Explanations to the limitations of the cyclic causal model in serious problem projects can form the basis of the phenomenon where the best professionally proposed codes still prove insufficient (Grotzer and Perkins 2000, p5). The cyclic causal model has several advantages, especially when applied to serious problem projects. However, its limitations in the same respect remain a mystery that needs to be solved.

Our study was dedicated to establishing the limitations of the cyclic causal model. A case study approach was used in the investigation, the Vancouver Building Project being the case in point. The Vancouver Building project is a project that is inexistence but that failed due to a myriad of reasons. The study specifically engaged the failed Vancouver Building Project as a case study to establish inherent limitations of the cyclic causal model as they may generally apply to other projects. During the study, we engaged a total of 8 respondents, all stakeholders of the Vancouver Building Project, in a scheduled face-to-face interview.

1.1 Main Objective
i) To establish possible inherent failures of the cyclic causal model in the failed Vancouver Building Project
1.2 Research Questions 
Does the existing Vancouver Building Project qualify as a severe problem project?
What are some of the limitations of the cyclic causal model in respect of the Vancouver building project?