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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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Evaluating Risk Response Strategies on Construction Projects Using a Fuzzy Rule-Based System
Download2019-01-01
Fateminia, Seyed Hamed, Seresht, Nima Gerami, Fayek, Aminah Robinson
The development and implementation of risk response strategies contributes to effective risk management processes in construction organizations. Risk response strategies need to be developed and implemented as follows: first, all possible risk responses for each given risk event of a project are...