A Research Review of Project Risk Assessment Methods

2014 ◽  
Vol 496-500 ◽  
pp. 2857-2862
Author(s):  
Zhi Cheng Chen ◽  
Lu Yao ◽  
Jian Jun Yang
Keyword(s):  
Risk Assessment ◽  
Assessment Method ◽  
Assessment Methods ◽  
Research Review ◽  
Simulation Methods ◽  
Project Risk ◽  
Subjective Judgment ◽  
Advantages And Disadvantages ◽  
Risk Assessment Method ◽  
Project Risk Assessment

Based on the domestic and overseas researches of project risk assessment methods, this paper classifies project risk assessment methods into subjective judgment methods, evidence and deduction methods, system simulation methods and other methods. After exploring their definitions, advantages and disadvantages, this paper points out that subjective judgment and empirical analogy become two mainstream risk assessment methods. In the end, this paper claims that a risk assessment method does not need any unfathomable theory for its obvious engineering characteristics, but focuses on operability and applicability.

scholarly journals A Novel Project Risk Assessment Method Development via AHP-TOPSIS Hybrid Algorithm

2020 ◽  
Vol 4 (5) ◽  
pp. 390-410
Author(s):  
Emin Başar Baylan
Keyword(s):  
Risk Assessment ◽  
Assessment Method ◽  
Activity Level ◽  
Topsis Method ◽  
Project Risk ◽  
Decision Method ◽  
Project Activity ◽  
Risk Assessment Method ◽  
Output Quality ◽  
Project Risks

In project planning, risk assessment method plays vital role. Poorly assessed project risks cause degeneration at project cost, project completion time, and project output quality and project scope. Each project activity risk influence these project success factors. Implementation performance of a project activity triggers or smooth of its successor’s activity risks. Because of this; employing robust and detailed risk assessment methods is important to reach those project goals. In project risk assessment literature, when it is investigated, it is noticed that risk assessment and evaluation methods are only developed at whole project level. Actually, they are not comprehensive enough to evaluate the project risks at activity level. Besides that traditional risk assessment methods such as risk matrix does not able analyze project risk quantitatively. With this motivation, main aim of this study is developing a multi-criteria based decision method which prioritizing project risks at activity level. AHP and TOPSIS method are combined to developed novel method. In this hybrid method, Constructing AHP model is to prioritize work packages with respect to relative importance of project time, project output quality and project cost. Broken down structure of these work packages are used as input for weighted criteria for TOPSIS method. In second layer of this decision method, TOPSIS model is used for prioritizing predetermined activity risks according weighted project work packages success criteria. In the application of this method, a case study approach is followed. In this sense, “Global Furniture Ltd.” which is established in Istanbul, Turkey is chosen as a case to apply newly developed model. Results showed that application of AHP-Stochastic TOPSIS Hybrid Algorithm provides a platform that project risks could be analyzed as quantitative and also at project activity level.

Storm surge risk assessment method for a coastal county in China: case study of Jinshan District, Shanghai

2020 ◽  
Vol 34 (5) ◽  
pp. 627-640 ◽  
Author(s):  
Shi Xianwu ◽  
Qiu Jufei ◽  
Chen Bingrui ◽  
Zhang Xiaojie ◽  
Guo Haoshuang ◽  
...  
Keyword(s):  
Risk Assessment ◽  
Storm Surge ◽  
Assessment Method ◽  
Risk Assessment Method ◽  
Coastal County

scholarly journals A Framework for Project Risk Assessment in Dynamic Networks: A Case Study of Oil and Gas Megaproject Construction

IEEE Access ◽  
2021 ◽  
pp. 1-1
Author(s):  
Amir Farmahini Farahani ◽  
Kaveh Khalili-Damghani ◽  
Hosein Didehkhani ◽  
Amir Homayoun Sarfaraz ◽  
Mehdi Hajirezaie
Keyword(s):  
Risk Assessment ◽  
Oil And Gas ◽  
Dynamic Networks ◽  
Project Risk ◽  
Project Risk Assessment

scholarly journals A Methodology for Harmonizing Safety and Health Scales in Occupational Risk Assessment

2021 ◽  
Vol 18 (9) ◽  
pp. 4849
Author(s):  
Zuzhen Ji ◽  
Dirk Pons ◽  
John Pearse
Keyword(s):  
Risk Assessment ◽  
Health And Safety ◽  
Assessment Method ◽  
Assessment Process ◽  
Successful Implementation ◽  
Health Issues ◽  
Public Health Perspective ◽  
Chronic Health ◽  
Risk Assessment Method

Successful implementation of Health and Safety (H&S) systems requires an effective mechanism to assess risk. Existing methods focus primarily on measuring the safety aspect; the risk of an accident is determined based on the product of severity of consequence and likelihood of the incident arising. The health component, i.e., chronic harm, is more difficult to assess. Partially, this is due to both consequences and the likelihood of health issues, which may be indeterminate. There is a need to develop a quantitative risk measurement for H&S risk management and with better representation for chronic health issues. The present paper has approached this from a different direction, by adopting a public health perspective of quality of life. We have then changed the risk assessment process to accommodate this. This was then applied to a case study. The case study showed that merely including the chronic harm scales appeared to be sufficient to elicit a more detailed consideration of hazards for chronic harm. This suggests that people are not insensitive to chronic harm hazards, but benefit from having a framework in which to communicate them. A method has been devised to harmonize safety and harm risk assessments. The result was a comprehensive risk assessment method with consideration of safety accidents and chronic health issues. This has the potential to benefit industry by making chronic harm more visible and hence more preventable.

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