Analysis of Risk and Reliability in Project Delivery Methods

Robert Schultz, Ahmad Sarfaraz and Kouroush Jenab
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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

International Journal of Strategic Decision Sciences (IJSDS), 2013, vol. 4, issue 3, 54-65

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.

Date: 2013
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