Risk assessment of construction plants and equipment: Time Factor

Abstract -Uncertainty about events and happening in construction site does not let the engineers be certain about time, cost and quality of projects. Whereas in the capital budgeting of governmental and private projects time and cost are necessary parts after quality, uncertainty about these items is huge problem. Finding the events and happenings that might happen in projects and classifying them, helps the construction manager to plan the project, thus minimize risk and uncertainty. In this paper, the risk of construction plants and equipment were classified in six categories: Act of god risks, physical risks, financial and economical risks, political and environmental risks, design risks and construction related risks. In each category, the probability and impact of each risk, based on factor affecting the time of project by semi Fuzzy Delphi technique will be verified. The Fuzzy Delphi Method is an analytical method based on the Delphi Method.