Morgenstern deems the various risks could be classified as human uncertainty, model uncertainty and parameter uncertainty, these may be suitable for complex construction projects.

Xingbo Zhou, what risks come under the model uncertainty ?

Different model may contain different risks, such as Bishop method and Sweden method adopt different safety factor for earth dam.

It would be best to describe in terms of Project RISK MANAGEMENT PROCESS TERMS. 

I would commend an approach that combines considerations of risk per se with the time dimension (and waiting), and therefore looks carefully at project sequencing  (e.g. what to invest, to what level,  and when?). This would recognise an engineering project as an investment that can be viewed in a real options framework. Indeed, such an engineering project would typically be a compound option. Real options are to be distinguished from financial options in that the former are typically not bought and sold in thickly traded markets (as is the case with financial options). In my own work in this area (co-authored with Bernadette Power of UCC, Ireland) we found (a) that there is value in holding real options until uncertainty is resolved, but that there are diminishing returns to adopting a 'wait and see' policy. The mathematics and econometrics behind this are rather complex, so we have also turned to developing (b) decision support tools for making the best choices, in terms of option striking (i.e. investing e.g. in plant and equipment). The tool we have developed allows rational decision to be made using three dimensional coloured plots (in our case, where yellow denotes good performance and blue poor performance).

The former (a) is set out in: Reid, G.C. (and B. Power) (2013) ‘Organisational Change and Performance in Long-Lived Small Firms’ European Journal of Finance, 19 (7-8), 791-809. DOI:10.1080/1351847X.2012.670124

The latter (b) is set out in: Decision support for firm performance by real options analytics

Power, B. & Reid, G. C. 23 Jul 2017 In : Managerial and Decision Economics. Early View, 9 p. 10.1002/mde.2867

I hope this advice might be helpful

Kind regards

Gavin Reid