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Assessing the Accuracy of ChatGPT Use for Risk Management in Construction Projects

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  • Hande Aladağ

    (Department of Civil Engineering, Yildiz Technical University, Istanbul 34349, Turkey)

Abstract

Artificial Intelligence (AI) is considered promising digital technology that has important opportunities for enhancing project oversight and delivering improved decision-making in the risk management domain. However, there is a limited amount of research that has evaluated AI tools’ performance in risk management. Therefore, with the intention of sustaining more accurate risk-based decision-making process in the construction industry, this paper investigates the accuracy of ChatGPT in risk management for different project types. In this context, Key Performance Indicators (KPIs) related to each risk management sub-process were determined, and then a questionnaire that consisted of prompt templates was prepared for collecting data from ChatGPT. Afterwards, ChatGPT’s responses were evaluated by experts with focus group sessions. The findings indicate that ChatGPT has a moderate level of performance in managing risks. It provides more accurate knowledge in risk response and risk monitoring rather than risk identification and risk analysis sub-processes. This research paves the way for future studies by demonstrating an implication of ChatGPT use for risk-based decision making. In addition, gaining insight into the precision of ChatGPT in the risk-based decision-making process will empower decision-makers to establish resilience in business operations through technology-driven risk management.

Suggested Citation

  • Hande Aladağ, 2023. "Assessing the Accuracy of ChatGPT Use for Risk Management in Construction Projects," Sustainability, MDPI, vol. 15(22), pages 1-27, November.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:22:p:16071-:d:1282619
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    References listed on IDEAS

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    1. S M Jamil Uddin & Alex Albert & Anto Ovid & Abdullah Alsharef, 2023. "Leveraging ChatGPT to Aid Construction Hazard Recognition and Support Safety Education and Training," Sustainability, MDPI, vol. 15(9), pages 1-22, April.
    2. Marius Hofert, 2023. "Assessing ChatGPT’s Proficiency in Quantitative Risk Management," Risks, MDPI, vol. 11(9), pages 1-29, September.
    3. Shou Qing Wang & Mohammed Fadhil Dulaimi & Muhammad Yousuf Aguria, 2004. "Risk management framework for construction projects in developing countries," Construction Management and Economics, Taylor & Francis Journals, vol. 22(3), pages 237-252.
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