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Determining Project Contingency Reserve Using a Fuzzy Arithmetic-Based Risk Analysis Method
Download2020-01-01
Fateminia, Seyed Hamed, Siraj, Nasir Bedewi, Fayek, Aminah Robinson, Johnston, Andrew
Traditional techniques for estimating contingency reserve fail to capture subjective uncertainties and expert knowledge, and they rely on historical data. This paper proposes a fuzzy risk analysis model (FRAM) that uses fuzzy arithmetic to analyze risk and opportunity events and determine...
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Hybrid fuzzy system dynamics model for analyzing the impacts of interrelated risk and opportunity events on project contingency
Download2020-07-23
Siraj, Nasir B., Fayek, Aminah Robinson
Traditional risk analysis techniques are ineffective for capturing the dynamic causal interactions and subjective uncertainties involved in assessing risk and opportunity events since they treat risks independently and rely on the availability of sufficient historical data. In this paper, a...