A Multi - Criteria Decision Support Model for The Management of Construction Project Risks

Abstract

Technological developments, the increase in the world population and rapid changes in customer needs have increased the competitive environment in the construction sector. The highly competitive environment has brought risk management to a much more critical position for construction companies. Construction projects are exposed to many risks due to their unique nature. Successful risk management requires a realistic assessment of these many and varied risks and the identification and implementation of appropriate strategies. Within the scope of the study, first of all, construction project risks were determined and grouped based on expert opinion and literature review. AHP method, which is one of the multi-criteria decision-making techniques, was used to prioritize risks. Strategies that can be taken against the identified risks were determined in line with expert opinions and Fuzzy TOPSIS technique was used to choose among the strategies that could be applied. It is thought that the obtained model can help decision makers in risk management in construction projects. Keywords AHP Construction risks Fuzzy TOPSIS MCDM Risk management TOPSIS