Assessment of Risk Factors of a Completed Oil and Gas Project, with the Use of a Hybrid EVM-SAW Method

The motivation of current research study is the way of diagnosing and ranking risk factors of a completed real-world gas injection project. A Nominal Group Technique is used to establish a Risk Matrix Structure, and to identify risk factors. Next, a hybrid group Eigen Vector Method and Simple Additive Weighting is applied to assign the weighs to risk factors. In this procedure, it is assumed that risk factors influence on the project constraints which are scope, quality, cost and time. Moreover, at the whole assessment stages, the opinions of twelve experts are utilized through several expertise meetings. The results indicate that the top-ten risk factors are: Poor or nonexistent project management system in the project; Bad estimation of Scope of Work; Lack of frozen requirements; Lack of cooperation among consultants, suppliers or subcontractors; Overemphasis of technical specifications in design; Conduct planning without a view on the project priorities; Inadequate/Invalid project assumptions; Failure to receive requirements from the client; Lack of people skills in the project leadership; and Absence of precise/accurate information.