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Abstract
Nowadays, focusing on risk management is one of the core objectives of any organization. Failing to assess project risks during the planning stage could be hazardous throughout the entire project lifecycle. Therefore, risk assessment is so important and various methods have been developed for it. One of the most important risk assessment methods is Failure Mode and Effects Analysis (FMEA). Despite the widespread applications of this method in various industries and organizations, FMEA is associated with some shortcomings that can lead to unrealistic results. In order to identify and evaluate the risks affecting construction projects and cover some shortcomings of the FMEA technique suggested an integrated model based on FMEA, Stepwise Weight Assessment Ratio Analysis (SWARA), and Weighted Aggregated Sum Product Assessment (WASPAS) methods under fuzzy environment in this research. To this end, a case study about the construction projects of the Iranian Road and Urban Development Organization is presented to illustrate the potential benefits and application of the proposed integrated approach. The results suggest that the new integrated model is more capable and accurate in identifying and prioritizing risk compared to the conventional FMEA technique and can provide useful information to help manage the risks of construction projects.
Acknowledgments
This paper was extracted from the Arak Central Library Building Project that was extracted and implemented by the Road and Urban Development Organization of the Markazi Province of Iran.
Disclosure statement
No potential conflict of interest was reported by the authors.