Fuzzy based risk assessment module for metropolitan construction project: An empirical study

The work proposes an integrated risk assessment route in relation to metropolitan construction projects based on the fuzzy set theory. A hierarchical risk break-down structure has been conceptualized to facilitate the task of risk assessment. The risk extent (rating) corresponding to a particular risk source has been expressed as a function of two parameters: likelihood (possibility) of occurrence and impact (consequence of occurrence). The concept of risk matrix has been explored herein to categorise various risk factors at different levels of severity for the establishment of necessary actions requirement plan. A case study of a metropolitan construction project for building an underground metro rail station has been reported here to demonstrate application procedural steps of the proposed methodology.