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Volume & Issue no: Volume 6, Issue 7, July 2017

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Title:
Comparative study of EVM and Fuzzy EVM Methods for Risk Analysis of Infrastructure Transportation Project
Author Name:
Manvinder Singh, Debasis Sarkar , HB Raghavendra
Abstract:
Abstract Mega infrastructure projects are subjected to countless risks due to its distinctive features in pre –execution phase (like feasibility, design etc.), execution and implementation phase. So, a very systematic process of risk analysis is essential for the classification, identification, computation and analysis of all these risks, and to articulate risk response strategies. This paper is an attempt to compute risk severity of the elevated corridor metro rail project using Expected Value Method and Fuzzy EVM (Expected Value Method) and conduct the comparative study of both methods. Ranking of major activities of elevated metro corridor project is done by using both EVM and Fuzzy EVM Method. The significance of this present research work lies in developing a project risk analysis model by application of Fuzzy Expected Value Method (FEVM) tool. This tool is a modification over conventional Expected Value Method (EVM) for project risk analysis. This application would provide base to take risk mitigation measures according to priority of risks, hence improvement in decision making. Keywords: Risk severity, Membership functions, Expected Value Method, FEVM, Risk assessment
Cite this article:
Manvinder Singh, Debasis Sarkar , HB Raghavendra , " Comparative study of EVM and Fuzzy EVM Methods for Risk Analysis of Infrastructure Transportation Project" , International Journal of Application or Innovation in Engineering & Management (IJAIEM) , Volume 6, Issue 7, July 2017 , pp. 164-171 , ISSN 2319 - 4847.
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