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Title: Risk Assessment in PPP Projects by Applying Different MCDM Methods and Comparative Results Analysis
Authors: Valipour, Alireza
Sarvari, Hadi
Tamošaitienė, Jolanta
Keywords: risk assessment
SWARA
COPRAS
FANP
FAHP
FTOPSIS
SAW
EDAS
PPP project
Issue Date: 2018
Publisher: MDPI
Citation: Valipour, A.; Sarvari, H.; Tamošaitiene, J. Risk Assessment in PPP Projects by Applying Different MCDM Methods and Comparative Results Analysis. Adm. Sci. 2018, 8, 80.
Series/Report no.: 8;4
Abstract: Recently, risk assessment has become one of the most challenging issues in the areas of construction and public-private partnerships (PPPs). To address risk assessment issues, various decision-making techniques have been proposed, each with its own specific disadvantages and advantages. This paper investigates step-wise weight assessment ratio analysis (SWARA), complex proportional assessment (COPRAS), fuzzy analytic network process (FANP), fuzzy analytic hierarchy process (FAHP), fuzzy technique for order of preference by similarity to ideal solution (FTOPSIS), simple additive weighting (SAW) and evaluation based on distance from average solution (EDAS) in order to define how various multi-attribute decision-making (MADM) methods compare when used for risk assessment in PPP projects. For this study, 5 risk assessment criteria and 10 types of risk used in Iranian highway PPP projects were selected. Four suitability and applicability tests were used to measure agreement between the rankings derived from the MADM methods. Final results show that all techniques had approximately the same rankings of risk assessment, with the SWARA, COPRAS, and EDAS methods performing slightly better. The findings of this study will help the parties in PPP and construction projects to select the best risk assessment method.
Description: This article belongs to the Special Issue Rational Decision Making in Risk Management
URI: http://dspace.vgtu.lt/handle/1/3870
ISSN: ISSN 2076-3387
Appears in Collections:Moksliniai straipsniai / Research articles

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