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:: Volume 3, Issue 3 (Autumn 2019) ::
ijcoe 2019, 3(3): 33-42 Back to browse issues page
Risk assessment of marine construction projects using Taguchi Loss Function
Amir Reza Valyani1, Naser Feghhi Farahmand *1, Soleyman Iranzadeh1
1- Department of Management, Tabriz Branch, Islamic Azad University, Tabriz, Iran
Abstract:   (480 Views)
Today complicated and risky environment makes risk assessment and identification one of the main steps of proper project management and realization of project objectives. Marine construction projects are key and strategic projects, and their specific nature adds to their importance. This study aimed to propose a method for risk assessment and ranking critical risks in marine construction projects in Iran. To this end, the risk assessment team was formed to identify serious marine construction project risks using risk breakdown structure. Afterward, the team defined risk assessment measures. All risks were assessed in each criterion based on the Taguchi loss function. It allowed decision-makers to define a measurable risk threshold for each criterion and assess risks by developing a common language called loss score. Finally, critical risks were determined based on their priority. The results can be used to improve effective risk management, and consequently, project management. 
Keywords: Marine projects|construction projects|risk assessment|project risk management|Taguchi loss function ,
Full-Text [PDF 472 kb]   (238 Downloads)    
Type of Study: Applicable | Subject: Coastal Engineering
Received: 2020/01/4 | Accepted: 2020/05/10 | Published: 2020/06/25
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Valyani A R, Feghhi Farahmand N, Iranzadeh S. Risk assessment of marine construction projects using Taguchi Loss Function. ijcoe. 2019; 3 (3) :33-42
URL: http://ijcoe.org/article-1-155-en.html

Volume 3, Issue 3 (Autumn 2019) Back to browse issues page
International Journal of Coastal and Offshore Engineering International Journal of Coastal and Offshore Engineering
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