Fuzzy Analytical Hierarchy Process Risk Assessment Approach for Joint Venture Construction Projects in China
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Volume 133, Issue 10
Abstract
Research and practice show that construction joint venture (JV) activities in China are opportunities that can bring potential benefits but at the same time may generate many risks. While research has studied these risks and presented useful advice for managing individual risks, the methodologies used to analyze the risks were mainly qualitatively based, and there is a gap in using the quantitative method that can integrate a risk expert’s knowledge to assess the risks associated with JV projects. This paper sets up a hierarchy structure of the risks and then develops a fuzzy analytical hierarchy process (AHP) model for the appraisal of the risk environment pertaining to the JVs to support the rational decision making of project stakeholders. An empirical case study is used to demonstrate the application of the proposed fuzzy AHP model. It is concluded that the fuzzy AHP model is effective in tackling the risks involved in JV projects. The information presented in this paper should be shown to all parties considering JV business opportunities in China, and the proposed approach should be applicable to the research and analysis of risks associated with any type of construction projects.
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Information & Authors
Information
Published In
Journal of Construction Engineering and Management
Volume 133 • Issue 10 • October 2007
Pages: 771 - 779
Copyright
© 2007 ASCE.
History
Received: Dec 8, 2005
Accepted: Jan 22, 2007
Published online: Oct 1, 2007
Published in print: Oct 2007
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