 Application of fuzzy failure mode effect analysis and expected value method for project risk analysis of elevated corridor metro rail projectsDebasis Sarkar International Journal of Decision Sciences, Risk and Management, 2015, vol. 6, issue 1, 34-62 Abstract: This paper is an attempt to develop a methodology of risk analysis by the use of fuzzy failure mode and effect analysis (FFMEA) and expected value method (EVM) of elevated corridor construction for metro rail. Case studies of Ahmedabad-Gandhinagar metro rail and Mumbai metro rail construction in India, at various phases, are presented to validate the concept of this technique. According to EVM analysis, for elevated corridor projects about 81% risks are in the domain of 'critical' and 19% risks are under the domain of 'high' risk severity. According to FFMEA analysis about 85% of the risks fall under 'critical' severity category and rest 15% of the risks fall under 'v. high' and 'high' risk category. Thus quite similar results are obtained from both techniques. The project authorities need to adopt risk mitigation measures to avoid undue time and cost overrun for the project. Keywords: risk assessment; elevated corridor construction; failure mode and effects analysis; fuzzy FMEA; fuzzy logic; expected value method; EVM; project risks; metro rail projects; India; metro railway; risk mitigation; time overrun; cost overrun; risk management; project management. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:ijdsrm:v:6:y:2015:i:1:p:34-62 Access Statistics for this article More articles in International Journal of Decision Sciences, Risk and Management from Inderscience Enterprises Ltd |
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