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General Information
    • ISSN: 2010-3697
    • Frequency: Bimonthly
    • DOI: 10.7763/IJMO
    • Editor-in-Chief: Prof. Adrian Olaru
    • Executive Editor: Ms.Yoyo Y. Zhou
    • Abstracting/ Indexing: Engineering & Technology Digital Library, ProQuest, Crossref, Electronic Journals Library, Google Scholar, EI (INSPEC, IET).
    • E-mail ijmo@iacsitp.com
Editor-in-chief
Prof. Adrian Olaru
University Politehnica of Bucharest, Romania
I'm happy to take on the position of editor in chief of IJMO. It's a journal that shows promise of becoming a recognized journal in the area of modelling and optimization. I'll work together with the editors to help it progress.
IJMO 2011 Vol.1(4): 275-283 ISSN: 2010-3697
DOI: 10.7763/IJMO.2011.V1.48

A Combined Fuzzy Analytic Network Process and Fuzzy-TOPSIS Model for Project Risk Assessment

Ebrahim Rezaee Nik, Seyed Hessameddin Zegordi, Ahad Nazari, Masatoshi Sakawa, and Fereydoon Honari Choobar

Abstract—The purpose of risk management is to improve project performance by systematically identifying and assessing risks, developing strategies to reduce or avoid them and maximizing opportunities. Probability and impact are two commonly used criteria in project risk assessment. However, these criteria do not sufficiently address all aspects of project risk. Moreover, there may be relations and dependencies among the various criteria. In order to overcome these drawbacks, we proposed a practical framework for project risk assessment. The proposed model allows risks to be ranked based on management priorities using a combined fuzzy analytic network process (fuzzy-ANP) and fuzzy Technique for Order Preference by Similarity to Ideal Solution (fuzzy-TOPSIS) method. We use fuzzy-ANP for calculating weights of criteria. The outputs of fuzzy-ANP calculations are used in a fuzzy-TOPSIS procedure for the evaluation of important risks. A case study of an Iranian power plant project is presented to illustrate the applicability and performance of the proposed model.

Index Terms—Fuzzy analytic network process, fuzzy tops is, power plant projects, project risk assessment, project risk management.

Ebrahim Rezaee Nik and Seyed Hessameddin Zegordi are working as PhD Student with the Department of Industrial Engineering, Tarbiat Modares University, Tehran, Iran (phone: +818030532848; fax: +81-82-424-7694; e-mail: ernik@ modares.ac.ir), (e-mail: Zegordi@modares.ac.ir).
Ahad Nazari is working as Assistance Professor with the Construction Department, Faculty of Architecture and Urban Planning, Shahid Beheshti University, Tehran, Iran (e-mail: a_nazari@sbu.ac.ir).
Masatoshi Sakawa is working as Professor with the Department of System Cybernetics, Hiroshima University, Higashi- Hiroshima, Japan (e-mail: sakawa@hiroshima-u.ac.jp).
Fereydoon Honari Choobar is working as Planning Manager with the MAPNA Combined Cycle Power Plants Construction & Development Company, Tehran, Iran (e-mail: honari@mapnamd2.com).

[PDF]

Cite: Ebrahim Rezaee Nik, Seyed Hessameddin Zegordi, Ahad Nazari, Masatoshi Sakawa, and Fereydoon Honari Choobar, "A Combined Fuzzy Analytic Network Process and Fuzzy-TOPSIS Model for Project Risk Assessment," International Journal of Modeling and Optimization vol. 1, no. 4, pp. 275-283, 2011.

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