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Analysis of Risk and Reliability in Project Delivery Methods

Author

Listed:
  • Robert Schultz

    (Department of Systems Engineering & Management, California State University, Northridge, CA, USA)

  • Ahmad Sarfaraz

    (Department of Systems Engineering & Management, California State University, Northridge, CA, USA)

  • Kouroush Jenab

    (Society of Reliability Engineering-Ottawa, Ottawa, ON, Canada)

Abstract

Risk and reliability are two main factors that must be studied in order to measure the successful rate of a project. As a result, innovative project delivery methods have been proposed to mitigate the risk and improve reliability of a project. The intent of this study is to compare the use of the Analytical Hierarchical Process (AHP) and fuzzy AHP for decisions surrounding the early stages of construction projects based on risk and reliability measures. Financial risk is especially high during the early design stages of a project due to the unknown obstacles that will follow. The case study uses the selection of a project delivery method as an example, and provides a sample project to highlight the project-specific variability of the multi-criteria decision analysis.

Suggested Citation

  • Robert Schultz & Ahmad Sarfaraz & Kouroush Jenab, 2013. "Analysis of Risk and Reliability in Project Delivery Methods," International Journal of Strategic Decision Sciences (IJSDS), IGI Global, vol. 4(3), pages 54-65, July.
    • Handle: RePEc:igg:jsds00:v:4:y:2013:i:3:p:54-65
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