2.50
Hdl Handle:
http://hdl.handle.net/10547/593714
Title:
A DST-based approach for construction project risk analysis
Authors:
Taroun, Abdulmaten; Yang, J.B.
Abstract:
Despite its huge potential in risk analysis, the Dempster–Shafer Theory of Evidence (DST) has not received enough attention in construction management. This paper presents a DST-based approach for structuring personal experience and professional judgment when assessing construction project risk. DST was innovatively used to tackle the problem of lacking sufficient information through enabling analysts to provide incomplete assessments. Risk cost is used as a common scale for measuring risk impact on the various project objectives, and the Evidential Reasoning algorithm is suggested as a novel alternative for aggregating individual assessments. A spreadsheet-based decision support system (DSS) was devised to facilitate the proposed approach. Four case studies were conducted to examine the approach's viability. Senior managers in four British construction companies tried the DSS and gave very promising feedback. The paper concludes that the proposed methodology may contribute to bridging the gap between theory and practice of construction risk assessment.
Affiliation:
University of Bedfordshire
Citation:
Taroun, A., Yang, J.B. (2013) 'A DST-based approach for construction project risk analysis' Journal of the Operational Research Society 64 (8):1221
Publisher:
Palgrave MacMillan
Journal:
Journal of the Operational Research Society
Issue Date:
3-Apr-2013
URI:
http://hdl.handle.net/10547/593714
DOI:
10.1057/jors.2013.38
Additional Links:
http://www.palgrave-journals.com/doifinder/10.1057/jors.2013.38
Type:
Article
Language:
en
ISSN:
0160-5682; 1476-9360
Appears in Collections:
Business and Information Systems Research Centre (BISC)

Full metadata record

DC FieldValue Language
dc.contributor.authorTaroun, Abdulmatenen
dc.contributor.authorYang, J.B.en
dc.date.accessioned2016-01-18T13:15:21Zen
dc.date.available2016-01-18T13:15:21Zen
dc.date.issued2013-04-03en
dc.identifier.citationTaroun, A., Yang, J.B. (2013) 'A DST-based approach for construction project risk analysis' Journal of the Operational Research Society 64 (8):1221en
dc.identifier.issn0160-5682en
dc.identifier.issn1476-9360en
dc.identifier.doi10.1057/jors.2013.38en
dc.identifier.urihttp://hdl.handle.net/10547/593714en
dc.description.abstractDespite its huge potential in risk analysis, the Dempster–Shafer Theory of Evidence (DST) has not received enough attention in construction management. This paper presents a DST-based approach for structuring personal experience and professional judgment when assessing construction project risk. DST was innovatively used to tackle the problem of lacking sufficient information through enabling analysts to provide incomplete assessments. Risk cost is used as a common scale for measuring risk impact on the various project objectives, and the Evidential Reasoning algorithm is suggested as a novel alternative for aggregating individual assessments. A spreadsheet-based decision support system (DSS) was devised to facilitate the proposed approach. Four case studies were conducted to examine the approach's viability. Senior managers in four British construction companies tried the DSS and gave very promising feedback. The paper concludes that the proposed methodology may contribute to bridging the gap between theory and practice of construction risk assessment.en
dc.language.isoenen
dc.publisherPalgrave MacMillanen
dc.relation.urlhttp://www.palgrave-journals.com/doifinder/10.1057/jors.2013.38en
dc.rightsArchived with thanks to Journal of the Operational Research Societyen
dc.subjectDempster–Shafer Theory of Evidenceen
dc.subjectrisk analysisen
dc.subjectconstructionen
dc.titleA DST-based approach for construction project risk analysisen
dc.typeArticleen
dc.contributor.departmentUniversity of Bedfordshireen
dc.identifier.journalJournal of the Operational Research Societyen
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