Applying Principal Component Analysis and Group-Decision Analytical Hierarchy Process for the Fuzzy Risk Assessment of Construction Project
Abstract:A new approach integrating of principal component analysis, FCE and Group-decision AHP in construction project risk assessment was proposed. Firstly, the index system of construction project risk was established. Then principal component analysis was applied to eliminate the indexes having the relativities and overlap information. We confirmed the weight of each index quantitatively by means of Group-decision AHP according to an established index system. Finally, the fuzzy comprehensive evaluation method and group-decision analytical hierarchy process (AHP) has been introduced into the fields for the risk assessment of construction project, and examples show that the proposed method is effective. The advantage of this approach is that it does not rely on the experience of experts and it can improve the validity and the precision of evaluation. Consequently, it can reflect the risk status of construction project, and it can assist decision-makers in evaluating the risk of construction projects in China.
Document Type: Research Article
Publication date: March 1, 2012
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