Railway construction project risk assessment techniques: systematic literature review

Tesfaye Gashaw and Kassu Jilcha

International Journal of Services and Operations Management, 2023, vol. 44, issue 1, 21-42

Abstract: The purpose of this study is to conduct a systematic literature review of risk analysis techniques for railway construction projects. This review includes related papers on construction project risk analysis methods published between January 2000 and March 2020. For this review, the existing project risk analysis methods are classified as probabilistic, fuzzy logic, multi-criteria decision-making (MCDM) and system dynamics approaches. The results of the review showed that fuzzy analytic hierarchy process (FAHP) and fuzzy analytic network process (FANP) are dominant hybrid MCDM approaches for construction project risk assessment. Nonetheless, these approaches have their own limitations to handle dynamic and feedback effects of project risks as well as update new information when available. Hence, for railway construction project risk assessment, hybrid approaches that can deal with uncertainty, causal relationship, feedback, correlated and conflicting criteria are recommended for future research.

Keywords: railway construction project; risk analysis; risk assessment techniques; system dynamics; systematic literature review; fuzzy analytic hierarchy process; FAHP; fuzzy analytic network process; FANP; multi-criteria decision-making; MCDM. (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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