4.6 Article

Multi-attribute analysis of investments risk alternatives in construction

Journal

TECHNOLOGICAL AND ECONOMIC DEVELOPMENT OF ECONOMY
Volume 14, Issue 3, Pages 428-443

Publisher

VILNIUS GEDIMINAS TECH UNIV
DOI: 10.3846/1392-8619.2008.14.428-443

Keywords

expert system; decision-making; verbal analysis methods; methods of solving multicriteria classification problems

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In project development it is hardly possible to get exhaustive and accurate information. As a result, the situations occur, the consequences of which can be very damaging to the project. Inaccurate evaluation of the strategy related to capital investment and project implementation is one of the reasons why such estimates are not required in practice. Instead, a classification approaches may be used for this purpose. The decision-making process, based on the established risk assessment principles expressed in linguistic terms, requires qualitative judgement and experiential knowledge of the construction experts. Presented structured and realistic methods deals systematically with different management situations and assist the investors in reaching the correct risk assessment of possible alternatives will be of great value. This paper presents a methods of multiattribute comparativite analysis (CLARA and SAW methods) of variants of investment classified risks in construction A practical case to illustrate how the methods works is presented.

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