CASE STUDY ON RISK MANAGEMENT IN CONSTRUCTION PROJECT USING FUZZY APPROACH

Authors

  • Ankur Gupta PG Scholar, Department of Civil Engineering, ITM University Gwalior, Madhya Pradesh, India
  • Sohit Agrawal Asst. Professor, Department of Civil Engineering, ITM University Gwalior, Madhya Pradesh, India
  • Mukesh Pandey Professor & Head, Department of Civil Engineering, ITM University Gwalior, Madhya Pradesh, India

Keywords:

Construction project, Risk analysis, Risk management, Effective fuzzy weighted average algorithm, Euclidean distance

Abstract

The main object of this study is to review the impact of risk management on success of construction project.
The construction industry is subjected to additional risk because of the unique features of construction activities. Risk
management aims at distinguishing sources of risk and uncertainty, determinant their impact, and developing acceptable
management response. Many corporations usually establish a risk management procedure in their projects for rising the
performance and increase the profits. “In this study fuzzy is used method to examine it and provide an appropriate
value” A fuzzy set theory is highly subjective and related to inexact and vague information which we deal in construction
projects. This study results in finding the Euclidean distance, which reflects the degree of risk.

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Published

2018-01-25

How to Cite

Ankur Gupta, Sohit Agrawal, & Mukesh Pandey. (2018). CASE STUDY ON RISK MANAGEMENT IN CONSTRUCTION PROJECT USING FUZZY APPROACH. International Journal of Advance Engineering and Research Development (IJAERD), 5(1), 789–791. Retrieved from https://www.ijaerd.org/index.php/IJAERD/article/view/2180

Issue

Vol. 5 No. 1 (2018): Volume 5 Issue 1 January 2018

Section

Articles

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