Risk assessment of marine construction projects using Taguchi Loss Function
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...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Iranian Association of Naval Architecture and Marine Engineering
2019-10-01
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| Series: | International Journal of Coastal and Offshore Engineering |
| Subjects: | |
| Online Access: | http://ijcoe.org/article-1-155-en.html |
| _version_ | 1818245554502631424 |
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| author | Amir Reza Valyani Naser Feghhi Farahmand Soleyman Iranzadeh |
| author_facet | Amir Reza Valyani Naser Feghhi Farahmand Soleyman Iranzadeh |
| author_sort | Amir Reza Valyani |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-12-12T14:34:46Z |
| format | Article |
| id | doaj.art-00eaec810adf4413ae09384ec7bd10e1 |
| institution | Directory Open Access Journal |
| issn | 2538-2667 2588-3186 |
| language | English |
| last_indexed | 2024-12-12T14:34:46Z |
| publishDate | 2019-10-01 |
| publisher | Iranian Association of Naval Architecture and Marine Engineering |
| record_format | Article |
| series | International Journal of Coastal and Offshore Engineering |
| spelling | doaj.art-00eaec810adf4413ae09384ec7bd10e12022-12-22T00:21:24ZengIranian Association of Naval Architecture and Marine EngineeringInternational Journal of Coastal and Offshore Engineering2538-26672588-31862019-10-01333342Risk assessment of marine construction projects using Taguchi Loss FunctionAmir Reza Valyani0Naser Feghhi Farahmand1Soleyman Iranzadeh2 Department of Management, Tabriz Branch, Islamic Azad University, Tabriz, Iran Department of Management, Tabriz Branch, Islamic Azad University, Tabriz, Iran Department of Management, Tabriz Branch, Islamic Azad University, Tabriz, Iran 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.http://ijcoe.org/article-1-155-en.htmlmarine projectsconstruction projectsrisk assessmentproject risk managementtaguchi loss function |
| spellingShingle | Amir Reza Valyani Naser Feghhi Farahmand Soleyman Iranzadeh Risk assessment of marine construction projects using Taguchi Loss Function International Journal of Coastal and Offshore Engineering marine projects construction projects risk assessment project risk management taguchi loss function |
| title | Risk assessment of marine construction projects using Taguchi Loss Function |
| title_full | Risk assessment of marine construction projects using Taguchi Loss Function |
| title_fullStr | Risk assessment of marine construction projects using Taguchi Loss Function |
| title_full_unstemmed | Risk assessment of marine construction projects using Taguchi Loss Function |
| title_short | Risk assessment of marine construction projects using Taguchi Loss Function |
| title_sort | risk assessment of marine construction projects using taguchi loss function |
| topic | marine projects construction projects risk assessment project risk management taguchi loss function |
| url | http://ijcoe.org/article-1-155-en.html |
| work_keys_str_mv | AT amirrezavalyani riskassessmentofmarineconstructionprojectsusingtaguchilossfunction AT naserfeghhifarahmand riskassessmentofmarineconstructionprojectsusingtaguchilossfunction AT soleymaniranzadeh riskassessmentofmarineconstructionprojectsusingtaguchilossfunction |