An Approach for Risk Prioritization in Construction Projects Using Analytic Network Process and Decision Making Trial and Evaluation Laboratory

Abstract

Construction projects always deal with different types of risks such as financial problems, legal factors, availability of resources and other issues during the project lifecycle. According to the type, size and complexity of the project, the number and intensity of risks could be different and many projects cannot reach the project goals due to exposure to multiple risks. This study aims to propose a hybrid DEMATEL-ANP model for risk prioritization in construction projects and the originality of the work comes from its ability to consider interdependencies between risk factors. The first stage of model applied Delphi method to use experts' judgments for risk identification. The second stage used Decision-Making Trial and Evaluation Laboratory (DEMATEL) method to define the interdependencies' relative intensity among the risks. Afterwards, Analytic Network Process (ANP) method is used in the third stage to assess the relative importance of the risk factors to define risk priorities in project. A case study of oil pipeline project is reported to indicate efficiency and performance of the proposed model. The results indicated that the proposed methodology could successfully reveal the important risk factors and define the interdependencies between them in the case study. On the whole, the proposed methodology can be considered as an efficient approach for risk assessment in construction projects.

Selecting Projects on the Brazilian R&D Energy Sector: A Fuzzy-Based Approach for Criteria Selection

“…In the second article, by Cheng et al [21], a DEMATEL-Fuzzy-ANP calculates preference weights of the criteria and then COPRAS-G method and fuzzy gray relations were employed to resolve conflicts that arose from differences in information and opinions. In fact, many authors couple DEMATEL and ANP to solve real world problems in project management, such as Karamoozian et al [43]. According to Si et al [41], solely using DEMATEL has advantages and disadvantages, which are shown on Table 1.…”

A Risk Analysis Based on a Two-Stage Model of Fuzzy AHP-DEA for Multimodal Freight Transportation Systems

“…The latter stage includes estimating the possibility and severity of each hazard. Risk analysis in transportation can be defined as multi-criteria decision making (MCDM) problems and mainly propose qualitative models which are based upon subjective evaluations [7], [14], [15].…”

“…Therefore, an appropriate MCDM should be realized for risk analysis in multimodal transportation while effectively solving multiple conflicting and interdependent issues [14]. To overcome the difficulty, this study proposes a novel framework for analyzing risks in multimodal freight transportation systems on the basis of the FAHP-DEA approach.…”

Perspectives on the Capabilities for the Selection of Strategic Projects

“…Therefore, resulting projects may have problems in project coordination and management [5]. In addition, the selection process should also consider organizational managerial capabilities such as resource management [7], value management [8], governance [9], risk management ( [10,11]), and stakeholder management ( [12][13][14]). These managerial capabilities support resource optimization and competitive value generation [15] to achieve organizational goals [16].…”