Forecasting potential project risks through leading indicators to project outcome

Forecasting Potential Project Risks through Leading Indicators to Project Outcome. (May 2007) Ji Won Choi, B.S., Han-Yang University; M.S., Texas A&M University Chair of Advisory Committee: Dr. Stuart D. Anderson During project execution, the status of the project is periodically evaluated, using traditional methods or standard practices. However, these traditional methods or standard practices may not adequately identify certain issues, such as lack of sufficient identification of warning signs that predict potential project failure. Current methods may lack the ability to provide real time indications of emerging problems that impact project outcomes in a timely manner. To address this problem, the Construction Industry Institute (CII) formed a research team to develop a new tool that can forecast the potential risk of not meeting specific project outcomes based on assessing leading indicators. Thus, the leading indicators were identified and then the new tool was developed and validated. A screening process was conducted through industry surveys after identifying potential leading indicators. Each time, industry professionals were asked to evaluate the negative impact of leading indicators on project outcomes that were identified to measure the impact of leading indicators on project health. Through this process, forty