A Fuzzy MCDM for Evaluating Risk of Construction Projects

Construction projects deal with various threats which are called risks. If we do not have good strategies to identify and perform preventive actions for these threats, the project may fail. In the risk management process, contractors are faced by some unintelligible problems such as cultural problems, fundamental problems and changing of policies. If we want to succeed in project we should identify, analyze, manage and control the risks. These tasks must be implemented by contractors. A project must complete in predetermined time and quality according to limited budget. Therefore the risk management of project is very important to succeed in project. One of the most important steps in risk management process is identifying risk factors of a project. In this study, the important risk factors are categorized into two main groups as internal factors and external factors. Each main group consists of several factors. A prevalent problem that is investigated by researchers in project risk management is specifying risks of threats to which the project is exposed. For evaluating the risk of threats, we rank them in terms of their probability and severity. In this study risk evaluation of construction project is investigated by the proposed fuzzy analytical hierarchy process (FAHP). The risk factors are prioritized by using analytical hierarchy process. For illustrating the FAHP method, a case study is presented.

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