Using fuzzy multiple criteria decision-making approach for assessing the risk of railway reconstruction project in Taiwan.
This study investigates the risk factors in railway reconstruction project through complete literature reviews on construction project risks and scrutinizing experiences and challenges of railway reconstructions in Taiwan. Based on the identified risk factors, an assessing framework based on the fuzzy multicriteria decision-making (fuzzy MCDM) approach to help construction agencies build awareness of the critical risk factors on the execution of railway reconstruction project, measure the impact and occurrence likelihood for these risk factors. Subjectivity, uncertainty and vagueness within the assessment process are dealt with using linguistic variables parameterized by trapezoid fuzzy numbers. By multiplying the degree of impact and the occurrence likelihood of risk factors, estimated severity values of each identified risk factor are determined. Based on the assessment results, the construction agencies were informed of what risks should be noticed and what they should do to avoid the risks. That is, it enables construction agencies of railway reconstruction to plan the appropriate risk responses/strategies to increase the opportunity of project success and effectiveness.
Graduate Institute of Project Management, Kainan University, No. 1 Kainan Road, Luchu, Taoyuan 33857, Taiwan ; Department of Business Administration, National Central University, No. 300 Jhongda Road, Jhongli, Taoyuan 32001, Taiwan.
Shih-Tong
0000-0002-4793-2986
ST
Lu
Department of Business Administration, National Central University, No. 300 Jhongda Road, Jhongli, Taoyuan 32001, Taiwan.
Shih-Heng
SH
Yu
Department of Business Administration, National Central University, No. 300 Jhongda Road, Jhongli, Taoyuan 32001, Taiwan.
Dong-Shang
DS
Chang
D000465:Algorithms; D003657:Decision Making; D008962:Models, Theoretical; D018570:Risk Assessment / Q000379:methods*; D012307:Risk Factors; D013624:Taiwan