Construction projects risk assessment based on fuzzy AHP

Abstract

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 and its application for construction project risk assessment, a case study is presented. ©2009 IEEE.