Decision support system for risk management: a case study

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This study demonstrates a quantitative approach to construction risk management through analytic hierarchy process and decision tree analysis. All the risk factors are identified, their effects are quantified by determining probability and severity, and various alternative responses are generated with cost implication for mitigating the quantified risks. The expected monetary values are then derived for each alternative in a decision tree framework and subsequent probability analysis aids the decision process in managing risks. The entire methodology is explained through a case application of a cross-country petroleum pipeline project in India and its effectiveness in project management is demonstrated.
Original languageEnglish
Pages (from-to)634-649
Number of pages16
JournalManagement Decision
Issue number8
Publication statusPublished - 2001


  • analytical hierarchy process
  • decision trees
  • risk management


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