An evaluation of total project risk based on fuzzy logic
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F16%3APU117111" target="_blank" >RIV/00216305:26510/16:PU117111 - isvavai.cz</a>
Result on the web
<a href="https://journals.vgtu.lt/index.php/BTP/article/view/8201" target="_blank" >https://journals.vgtu.lt/index.php/BTP/article/view/8201</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.3846/btp.2016.534" target="_blank" >10.3846/btp.2016.534</a>
Alternative languages
Result language
angličtina
Original language name
An evaluation of total project risk based on fuzzy logic
Original language description
The article deals with the use of fuzzy logic as a support of evaluation of total project risk. A brief description of actual project risk management, fuzzy set theory, fuzzy logic and the process of calculation is given. The major goal of this paper is to present am new expert decision-making fuzzy model for evaluating total project risk. This fuzzy model based on RIPRAN method. RIPRAN (RIsk PRoject ANalysis) method is an empirical method for the analysis of project risks. The Fuzzy Logic Toolbox in MATLAB software was used to create the decision-making fuzzy model. The advantage of the fuzzy model is the ability to transform the input variables The Number of Sub-Risks (NSR) and The Total Value of Sub-Risks (TVSR) to linguistic variables, as well as linguistic evaluation of the Total Value of Project Risk (TVPR) – output variable. With this approach it is possible to simulate the risk value and uncertainty that are always associated with real projects. The scheme of the model, rule block, attributes and their membership functions are mentioned in a case study. The use of fuzzy logic is a particular advantage in decision-making processes where description by algorithms is extremely difficult and criteria are multiplied.
Czech name
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Czech description
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Classification
Type
J<sub>SC</sub> - Article in a specialist periodical, which is included in the SCOPUS database
CEP classification
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OECD FORD branch
50602 - Public administration
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2016
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Business: Theory and Practice
ISSN
1648-0627
e-ISSN
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Volume of the periodical
17
Issue of the periodical within the volume
1
Country of publishing house
LT - LITHUANIA
Number of pages
9
Pages from-to
23-31
UT code for WoS article
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EID of the result in the Scopus database
2-s2.0-84959362063