Application of Grey System Theory in Construction Management

Cuong Phu Pham, Phuong Thanh Phan and Phong Thanh Nguyen

MPRA Paper from University Library of Munich, Germany

Abstract: Materials are an important input in building construction. They account for a substantial proportion of investment capital and construction volume. However, as material prices are often affected by the market, choosing the right construction supplier is not an easy decision for contractors, especially for those materials required during the finishing phase of construction. As one of these finishing materials is paint, identifying core criteria for evaluating and selecting the best construction paint supplier is a crucial economic choice for construction contractors. Assessing the importance of these criteria is a complex multi-criteria decision-making problem. To reflect the risks and uncertainties in this problem, this paper presents a grey system theory approach to prioritize important criteria for selecting paint material suppliers in construction projects.

Keywords: construction management; project management; evaluation and selection criteria; material management; paint supplier; grey theory (search for similar items in EconPapers)
JEL-codes: C8 L74 N6 O18 (search for similar items in EconPapers)
Date: 2022-01, Revised 2022-07
New Economics Papers: this item is included in nep-ppm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Published in Engineering, Technology & Applied Science Research 12.5(2022): pp. 9087-9091

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