Paper Information

Journal:   ENERGY ECONOMICS REVIEW   WINTER 2012 , Volume 8 , Number 31; Page(s) 161 To 195.
 
Paper: 

PROVIDING A RISK REDUCTION MODEL FOR POWER PLANT PROJECTS USING A MULTI-OBJECTIVE OPTIMIZATION AND FUZZY-AHP APPROACH

 
 
Author(s):  ZEGORDI SEYED HESSAMEDDIN*, REZAEE NIK EBRAHIM, NAZARI AHAD, HONARI CHOOBAR FEREYDOON
 
* TARBIAT MODARES UNIVERSITY
 
Abstract: 

Power plants are one of the basic infrastructures for economic development.
Currently, several power plant projects are under construction in Iran. Due to various reasons such as technical complexity, requiring substantial foreign exchange and local currency resources, the need for special equipment and dependency between the different phases, these projects are subject to numerous risks. Thus, while effective risk management is needed for these projects, there are gaps in our understanding of risk response assessment and selection. This paper proposes an optimization model that integrates the project work breakdown structure, risk events, risk abatement actions, secondary risks and their effect into a comprehensive framework. This model minimizes total expected loss. It consists of four components: abatement actions costs, expected time loss, expected financial loss and expected quality loss. We use a fuzzy analytic hierarchy process for calculating the coefficients of the objective function. Furthermore, a case study in Iranian power plant projects is presented to demonstrate applicability of the proposed model. The results show that the approach can lead to considerable savings in time and cost and improve the quality of projects under implementation.

 
Keyword(s): POWER PLANT PROJECTS, PROJECT RISK MANAGEMENT, RISK RESPONSE, OPTIMIZATION MODELS, FUZZY LOGIC, ANALYTIC HIERARCHY PROCESS
 
References: 
  • ندارد
 
  Persian Abstract Yearly Visit 73
 
Latest on Blog
Enter SID Blog