State-of-the-Art Review on Fuzzy Risk Modeling and Assessment in Construction Projects

Construction risk assessment, especially at the early stages of the project, is intricate because the nature of risk is usually affected by numerous factors including human errors and information available. In many circumstances, it may be extremely difficult to assess the risks associated with a project due to the great uncertainty involved. Risk can be managed, minimized, shared, transferred or accepted. Several risk identification and assessment methods have been proposed in the literature to facilitate project risk management. According to researches of this paper’s authors, the best methodology for evaluating the risk exposures considering consequences in terms of time, cost, quality, and safety performance measure of the entire project is based on fuzzy estimates of the risk components that called Fuzzy risk management. This paper aims to comprehensively review the Fuzzy Risk Modeling and Assessment in Construction Projects literature that has been published in top quality journals from first up to now.

Keywords:

Fuzzy Risk Management , Risk Identification , Risk Assessment , Uncertainty