MULTI-CRITERIA DECISION SUPPORT OF PROJECT RISK ASSESSMENT

Chaouki  Moumeni; Kamel  Tadjine; Hamid  Hamadache; Mourad  Nahal

Authors

Chaouki Moumeni Department of Mechanical Engineering, University of Mohamed Cherif Messaadia of Souk Ahras, P.O. Box 1553, 41000 Souk Ahras, Algeria.
Kamel Tadjine Department of Mechanical Engineering, University of Badji Mokhtar of Annaba, P.O. Box 12, 23000 Annaba, Algeria.
Hamid Hamadache Department of Mechanical Engineering, University of Badji Mokhtar of Annaba, P.O. Box 12, 23000 Annaba, Algeria.
Mourad Nahal Department of Mechanical Engineering, University of Mohamed Cherif Messaadia of Souk Ahras, P.O. Box 1553, 41000 Souk Ahras, Algeria.

Keywords:

Risk assessment, AHP, WPM, multi-criteria decision analysis, project Risks

Abstract

Risk is an inherent property of each project, because a project life cycle is subjected to different nature’s risks, such as internal or external origins. The aim of this paper is to rank the pipeline installation project construction’s risks in order of importance, taken into account the two multi-criteria approaches of decision support which are Analytic Hierarchy Process (AHP) and Weighted Product Model (WPM). The project construction’s risks have been estimated using the cost, delay and quality criteria. The weighted criticality of each risk was determined according to the project characteristics, the probability of occurrence, aggregate impact and the non-detectability factor.

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