Use of fuzzy numbers in project risk (criticality) assessment

Use of fuzzy numbers in project risk (criticality) assessment

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Article ID: iaor2002183
Country: United Kingdom
Volume: 19
Issue: 5
Start Page Number: 305
End Page Number: 310
Publication Date: Jul 2001
Journal: International Journal of Project Management
Authors:
Keywords: risk
Abstract:

We put forward a fuzzy way of measuring the criticality of project activities and of the whole project. In the proposed approach both the decision maker attitude and the project network structure are taken into account. The criticality measure obtained may serve as a measure of risk or of the supervision effort needed and can help in making the decision whether to accept or to reject the project. Its numerical implementation is as difficult as that of the classical critical path method.

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