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An integrated fuzzy-DEMATEL approach to project risk analysis

conference contribution
posted on 2018-01-01, 00:00 authored by P Bashardoost, Farnad NasirzadehFarnad Nasirzadeh, N N Mohtashemi
The occurrence of one risk may exacerbate other risks due to existing interactions. The traditional risk analysis approaches do not take account of the complex structure of risks arising from their interactions and the severity of risks may not be assessed correctly. This paper presents an integrated fuzzy-DEMATEL approach to assess the severity of risks considering their existing interactions using the opinions of an invented group of experts. The interactions between risks are modeled qualitatively using cause and effect feedback loops. The impacts of the risks on each other are then assessed using DEMATEL technique. Taking account of the difficulties of traditional aggregation method namely simple averaging, a new aggregation method is proposed using fuzzy logic. The proposed fuzzy-DEMATEL approach is implemented in a real-world oil development project in order to evaluate its applicability and performance. The impacts of the most important identified risks on each other are assessed and the severity of risks is determined using proposed fuzzy-DEMATEL approach.

History

Event

Industrial Technology and Management. Conference (7th : 2018 : Oxford, Eng.)

Series

Industrial Technology and Management Conference

Pagination

411 - 416

Publisher

Institute of Electrical and Electronics Engineers

Location

Oxford, Eng.

Place of publication

Piscataway, N.J.

Start date

2018-03-07

End date

2018-03-09

ISBN-13

9781538613290

Language

eng

Publication classification

E1 Full written paper - refereed

Copyright notice

2018, IEEE

Editor/Contributor(s)

[Unknown]

Title of proceedings

ICITM 2018 : Proceedings of the 2018 7th International Conference on Industrial Technology and Management

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