Evaluating construction projects based on the risk factors by using an integrated fuzzy AHP and fuzzy VIKOR model

Abstract

Planning and managing the risks is the first step that should be performed at the start of projects and before doing the works. Construction projects start in a complex and dynamic environment and due to the close relation between the parameters of projects and unknown environment, they face with the uncertainties and risks. In this paper, construction projects are evaluated by combining multi criteria decision making methods, i.e., fuzzy AHP and fuzzy VIKOR. The fuzzy concepts are utilized for modelling the existing uncertainty in data. For doing so, first a comprehensive list of risk factors affecting on the success of construction projects is taken from the literature review. They are customized by the experts’ opinions and then the final risk factors are selected. The fuzzy AHP is used to determine the importance of the risk factors. The results of applying fuzzy AHP show that the risks of time and cost have high weights among risk factors. Furthermore, weakness in the construction schedule, the collapse, and the high bidding price are determined as the high importance sub factors of risk. Finally, the proposed model is applied for assessing and prioritizing five construction projects in the area of road construction in Isfahan, Iran.

Keywords

• construction projects
• risk management
• risk factors
• fuzzy ahp
• fuzzy vikor