A Mathematical Model to Predict Optimal Risk Response Budget using Genetic Algorithm
Hiba Omer Ghaeb Aljorany,
Ahmed Mohammed Raoof Mahjoob
Abstract:Construction projects encounter a variety of risks, which require a thorough risk response phase to identify, evaluate, and determine solutions. This study presents a methodology for effectively choosing an appropriate risk response strategy and allocating suitable funds for the risk response phase of building projects. The framework employs optimization approaches and evolutionary principles, specifically utilizing the Genetic Algorithm technique. The objective of the model is to reduce costs and determine a … Show more
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