Development of Fuzzy Model for Risk Analysis of Large Construction Projects

Recently, our construction market recognizes the necessity of risk management, however the practical system is still limited in application on the construction site because the methodology for analyzing and quantifying construction risk and for building actual risk factors is not easy. This study suggests a risk management method by fuzzy theory, which is using subjective knowledge of an export and linguistic value, to analyze and Quantify risk factors. The result of study is expected to improve the accuracy of risk analysis because three factors, such as probability, impact and exposure, for estimating membership function are introduced to quantify each risk factor.