Risk prioritization and selection of contractor participating in Public-Private Partnership (PPP) infrastructure project using Hybrid Fuzzy AHP and Fuzzy TOPSIS (Case Study: Saveh-Salafchegan Freeway Project)

Competitiveness is a complex domain with multiple perspectives and a vast range of definitions, meanings, and measures. Therefore, it is challenging to create an appropriate framework to evaluate the competitiveness of an ever-changing and evolving construction industry. This study captures the contractor's perspectives about the competitiveness of the Pakistani construction industry, underlines the key factors affecting its performance, and proposes a framework for enhancing competitiveness. The proposed framework identifies the areas for improvement and contributes to the development of strategies for adoption. To achieve this, a qualitative approach is adopted which captures the opinion of contractors about the competitiveness and its perception and analyzes it through the fuzzy approach. The results based on 25 expert interviews highlight that the recruitment of well-trained human resource and cutting-edge technologies, the collaboration between academia and industry, investment in R&D projects, and a stable business environment contribute to enhancing the competitiveness of the construction industry and should be adopted to enhance the current state of practice. The study has perks for both academia and industry and requires active participation from both counterparts as well as supply chain actors and regulatory bodies to achieve the holistic goals.

Section: Introductionmentioning

confidence: 99%

Competitiveness in the construction industry: A contractor’s perspective on barriers to improving the construction industry performance

Azeem¹,

Ullah²,

Thaheem³

et al. 2020

“…Since each risk factor has a different impact on the project, a multi-criteria decisionmaking selection can be employed to evaluate their degree of importance. The Analytical Hierarchy Process (AHP), which creates a hierarchical structure, has been one of the most preferred construction industry decision-making methodologies [39]. In addition to being easy to apply, it also helps decision-makers assess their judgment's consistency through its analytic feature [40].…”

Section: Risk Prioritization For the Modelmentioning

confidence: 99%

A risk assessment model of commercial real estate development projects in developing countries

Çomu¹,

Elibol²,

Yucel³

2021

Commercial real estate investments play a direct role in economic welfare, yet they are high-risk investments, especially in developing countries. If the risk factors directly affecting the project objectives are not analyzed correctly, financial losses are inevitable in Commercial Real Estate Development (CRED) projects. In this respect, this study aims to identify and prioritize the risk factors and introduce an Analytic Network Process (ANP) model to assess the risks in CRED projects in developing countries. The findings of this study reveal the importance of "Exchange rate and inflation rate fluctuations," "Political instability," and "Location selection" risk factors for CRED projects in developing countries. Five case studies are also conducted to test and support the effectiveness of the proposed model. The proposed model provides a clear perspective for decision-makers or stakeholders of the CRED projects to assess their risk criteria in order to take proper actions.

“…However, the classical AHP method also has been criticized for its inadequacy in addressing uncertainty [28]. In other words, it cannot reflect the actual human thinking process, which is based on inaccuracy and unreliability.…”

Section: Fuzzy Theory and Fuzzy Ahpmentioning

confidence: 99%

Selecting the appropriate project delivery method for real estate projects using fuzzy AHP

Çomu¹,

Kural²,

Yucel³

2020

The real estate industry holds a remarkably significant share in the Turkish economy. Due to the nature ofthe dynamic characteristics of the real estate industry, project achievement is not an easy task. Choosing the appropriate Project Delivery Method (PDM) is significantly crucial, considering that it provides various benefits, including economic contribution and time-saving. This study aims to determine the main factors affecting PDM selection with the most suitable analysis method for real estate projects in Turkey. The PDM types used in the real estate sector and the factors affecting the appropriate PDM selection process are identified based on literature review and interviews with professionals related to the Turkish real estate industry. The model generated is utilized as a tool in choosing the appropriate PDM in real estate projects by using Fuzzy Analytical Hierarchy Process (AHP). In terms of the theoretical contribution to the literature, this study identifies five main factors categorized as i) time-related issues, ii) cost, funding and cash flow related issues, iii) scope related issues, iv) owner organization, risk, and relationship related issues, and vi)project characteristic issues with 13 sub-factors. In addition to the theoretical contribution, a hierarchical model and a Fuzzy AHP based approach to select the appropriate PDM for the real estate projects in Turkey are provided as a practical contribution.