A New Method for Evaluating the Risk of Engineering Project: DHGF Algorithm

Author

Hong-Qing Zhang ; Xiao-Yin Fan

Author_Institution

Sch. of Bus. Adm., North China Electr. Power Univ., Beijing

fYear

2008

fDate

12-14 Oct. 2008

Firstpage

1

Lastpage

6

Abstract

The risk management to the construction engineering plays an ever increasing role in modern engineering project management. In this study, a new risk evaluation method of engineering project is proposed - the DHGF algorithm, its character is to choose certain evaluation methods at different stages of the evaluation process. During the evaluation, the improved Delphi method is used to establish the comprehensive evaluation index system; AHP is used to determine the weight of every evaluation index; the fuzzy evaluation method which introduced grey correlation analysis is used to determine the risk grade and make the comprehensive evaluation. DHGF algorithm brings together the merits of Delphi, AHP, grey correlation analysis and fuzzy comprehensive evaluation and provides a scientific and rational approach to evaluate the owner of engineering project.

Keywords

construction industry; correlation methods; fuzzy set theory; grey systems; project management; risk management; DHGF algorithm; Delphi method; analytic hierarchy process; construction engineering project; evaluation index system; fuzzy evaluation; grey correlation analysis; project management; risk evaluation; risk grade; risk management; Algorithm design and analysis; Decision trees; Fuzzy systems; Management information systems; Mathematics; Power engineering and energy; Protocols; Risk analysis; Risk management; Statistics;

fLanguage

English

Publisher

ieee

Conference_Titel

Wireless Communications, Networking and Mobile Computing, 2008. WiCOM '08. 4th International Conference on

Conference_Location

Dalian

Print_ISBN

978-1-4244-2107-7

Electronic_ISBN

978-1-4244-2108-4

Type

conf

DOI

10.1109/WiCom.2008.2428

Filename

4680617