Abstract. The higher life quality standards, the changes of habits and new well-being requirements have led to an increase in the demand for housing. Decision-making problems in construction management often involve a complex decisionmaking process in which multiple requirements and conditions have to be taken into consideration simultaneously. However, not every attribute used in multidimensional scaling is equally and precisely weighted in the real world. Thus quantitative and qualitative assessments are often required to deal with uncertainty, subjective and imprecise data. The accuracy of performance measures in common multi-attribute methods is usually assumed to be accurate. Grey theory is a new technique for performing prediction, relational analysis and decision-making in many areas. This paper considers the application of grey relations methodology for defining the utility of an alternative and is proposed as a method of multiple criteria COmplex PRoportional ASsessment of alternatives with Grey relations (COPRAS-G). In this model parameters of the alternatives are determined by the grey relational grade and are expressed in intervals. A case study of assessing external walls of four alternatives was used to demonstrate the applicability and the effectiveness of the proposed approach. The results show that this method can be implemented as an effective decision aid in multi-attribute selection.

Abstract. The paper presents risk assessment of construction projects. The assessment is based on the multi-attribute decision-making methods. The risk evaluation attributes are selected taking into consideration the interests and goals of the stakeholders as well as factors that have influence on the construction process efficiency and real estate value. Ranking of objects and determination of their optimality are determined by applying TOPSIS grey and COPRAS-G methods with attributes values determined at intervals. A background and a description of the proposed model are provided and key findings of the analysis are presented.

Risk management is an important field of construction industry and has gained more importance internationally due to the latest researches carried out on a large scale. However, this relatively new field requires more attention to bring some benefit. Construction projects are facing a number of risks which have negative effects on project objects such as time, cost and quality. This study is based on findings of a questionnaire-based survey on risk management in construction projects in Pakistan, reporting the significance of different type of risk, ultimate responsibility for them and the effectiveness of some most common risk management techniques practiced in the industry. Two types of risk management techniques were considered: preventive techniques which can be used before the start of a project to manage risks that are anticipated during the project execution; and remedial techniques that are used during the execution phase once a risk has already occurred. The study revealed that financial issues for projects, accidents on site and defective design are the most significant risks affecting most of construction projects. As further reported, the contractor is responsible for management of most risks occurring at sites during the implementation phase, such as issues related to subcontractors, labour, machinery, availability of materials and quality, while the client is responsible for the risks such as financial issues, issues related to design documents, changes in codes and regulations, and scope of work. Further reported results of the analysis demonstrate that the production of proper schedule by getting updated data of the project and guidance from previous similar projects are the most effective preventive risk management techniques while close supervision and coordination within projects are the most effective remedial risk management techniques. It may be concluded that the most significant risks must be managed with greater effort to reduce/eliminate their effects on the project. As the study concludes, preparation of a proper schedule and good coordination during the implementation stage are very important as they may help project managers to focus on critical areas for better management of projects in Pakistan.

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