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

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 o...

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Bibliographic Details
Main Authors: Hong-Qing Zhang, Xiao-Yin Fan
Format: Conference Proceeding
Language:English
Subjects:
Algorithm design and analysis
Decision trees
Fuzzy systems
Management information systems
Mathematics
Power engineering and energy
Protocols
Risk analysis
Risk management
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Summary: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.
ISSN:2161-9646
DOI:10.1109/WiCom.2008.2428