Risk Analysis Techniques in Construction Engineering Projects

DOI

10.2991/jracr.2012.2.2.4How to use a DOI?

Keywords

Risk analysis, construction, projects, techniques, uncertainty

Abstract

There is a great deal of risk analysis techniques and tools available for the management of risks. In principle, each risk analysis technique has its strengths and weaknesses. Techniques such as Probability Theory, Certainty Factors, Dempster-Shaffer Theory of Evidence and Fuzzy Logic are discussed with regard to their application to risk analysis in construction engineering projects. Suggestions on the most appropriate tools associated with the techniques are also presented. The strengths and weaknesses of each technique are highlighted and discussed. It has been concluded that the nature of risks under consideration is determinant in the selection of modeling and analysis techniques.

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - JOUR
AU  - Daniel Baloi
PY  - 2012
DA  - 2012/08/01
TI  - Risk Analysis Techniques in Construction Engineering Projects
JO  - Journal of Risk Analysis and Crisis Response
SP  - 115
EP  - 123
VL  - 2
IS  - 2
SN  - 2210-8505
UR  - https://doi.org/10.2991/jracr.2012.2.2.4
DO  - 10.2991/jracr.2012.2.2.4
ID  - Baloi2012
ER  -