Multi-granular linguistic distribution evidential reasoning method for renewable energy project risk assessment

Liang, Yingying; Ju, Yanbing; Qin, Jindong; Pedrycz, Witold

doi:10.1016/j.inffus.2020.08.010

Cited by 39 publications

(11 citation statements)

References 47 publications

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“…This concept is adopted from the project risk term, which is defined as “ an uncertain event or condition that, if it occurs, has a positive or a negative effect on a project objective .” 19 From normative rational theory, risk in project could be positive (opportunities) or negative (threats). 169,170,171,172,173 Positive challenges are associated with “opportunities” that could be gained from complexity aspects, and negative challenges are related with the “loss” from complexity condition. For instance, due to limited experience, several megaproject teams or stakeholders in developing countries often under uncertain conditions for structural aspect in the technology are to be applied.…”

Section: Resultsmentioning

confidence: 99%

Clarifying megaproject complexity in developing countries: A literature review and conceptual study

Damayanti

Hartono

Wijaya

2021

International Journal of Engineering Business Management

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Complexity is considered one of the hallmarks of megaproject failure; however, no common definition of complexity in the megaproject context exists in contemporary literature; particularly in developing countries. The present study explores the definitions, characteristics, and strategy to respond to the complexity of megaprojects in developing countries. An exploration of normative theories and a systematic literature review were performed to investigate the concept of complexity. This study proposes the definition of complexity as a “challenge” for entities—including project managers—in megaproject management. This definition extends to encompass both positive and negative challenges, offering a more balanced perspective on the causes of failure in addition to the sources of opportunities for innovation. We determine the aspects of megaproject complexity associated with structural and social factors of interrelatedness, nonlinearities, and emergence. This study proposes a formal definition, clarifying the characteristics of complexity and synthesizing strategy themes that respond to megaproject complexity. This resulting study provides insights for both megaproject researchers and professionals.

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Section: Resultsmentioning

confidence: 99%

Clarifying megaproject complexity in developing countries: A literature review and conceptual study

Damayanti

Hartono

Wijaya

2021

International Journal of Engineering Business Management

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“…To reasonably assess the renewable energy projects, Liang et al. [41] and Pan et al. [42] respectively proposed a multi-granular linguistic ER algorithm and an interval type-2 fuzzy ER algorithm to aggregate the information under multiple attributes.…”

Section: Literature Reviewmentioning

confidence: 99%

A novel behavioral three-way decision model with application to the treatment of mild symptoms of COVID-19

Wang

Pan

et al. 2022

Applied Soft Computing

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“…Investors and policymakers confront a variety of uncertainties in their decision-making when it comes to RE projects due to the huge investments and technology required. 54 When projects are carried out on an international scale, these uncertainties become much more critical. As a result, investing in RE projects comes with increased risk, which must be carefully identified and evaluated.…”

Section: Re Projects Investment Risk Assessmentmentioning

confidence: 99%

Risk assessment of renewable energy projects using uncertain information

Karamoozian

Lambert

et al. 2022

Intl J of Energy Research

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Summary The majority of countries attempting to switch from conventional energy sources to renewable energy sources have decided to make significant investments in these projects. Considering renewable energy is an industry with a high level of investment expenses, assessing investment risks is critical to making efficient investment strategies. Howbeit, since risk assessment is dependent on expert opinions, uncertainty in the judgment of the consultants should be avoided. In this study, a novel hybrid failure mode and effect analysis approach is proposed to assess the investment risks of renewable energy projects. Results indicated that wind energy is the most appropriate alternative considering technical, marketability, environmental, economic, social aspects. Moreover, the sensitivity analysis is carried out and the robustness and validity of results from the proposed approach are examined. Finally, six different scenarios are considered and the results are interpreted accordingly. The findings of this study will be valuable to authorities, investors, and enterprises involved in the renewable energy projects and evaluating their investment.

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Multi-granular linguistic distribution evidential reasoning method for renewable energy project risk assessment

Cited by 39 publications

References 47 publications

Clarifying megaproject complexity in developing countries: A literature review and conceptual study

Clarifying megaproject complexity in developing countries: A literature review and conceptual study

A novel behavioral three-way decision model with application to the treatment of mild symptoms of COVID-19

Risk assessment of renewable energy projects using uncertain information

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