Project risk identification and assessment simultaneously using multi-attribute group decision making technique

The identification and assessment of project risks among potential risks can be considered a multi-attribute group decision making (MAGDM) problem including both quantitative and qualitative criteria. We extend the concept of safety to risk identification and assessment; this is to emphasize that the focus should not only be on the time and cost criteria, but also on the health, safety and environment (HSE) criterion. Conventional approaches to risk identification and risk assessment separately tend to be less effective in dealing with the imprecise of the risk assessment individually. The aim of this paper is to present a new methodology for identifying and assessing risks simultaneously by applying MAGDM technique. This paper includes a new procedure for classifying potential risks which it is named potential risk breakdown structure (PRBS) based on project work breakdown structure (WBS). Nominal group technique (NGT) is utilized for gathering potential risks. Obtained results have been applied in gas refinery plant construction successfully. (C) 2009 Elsevier Ltd. All rights reserved.