Investment Decision Support for Engineering Projects Based on Risk Correlation Analysis
Joint Authors
Liu, Yan
Wang, Cui-Qin
YI, Ting-Hua
Source
Mathematical Problems in Engineering
Issue
Vol. 2012, Issue 2012 (31 Dec. 2012), pp.1-14, 14 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2012-11-21
Country of Publication
Egypt
No. of Pages
14
Main Subjects
Abstract EN
Investment decisions are usually made on the basis of the subjective judgments of experts subjected to the information gap during the preliminary stages of a project.
As a consequence, a series of errors in risk prediction and/or decision-making will be generated leading to out of control investment and project failure.
In this paper, the variable fuzzy set theory and intelligent algorithms integrated with case-based reasoning are presented.
The proposed algorithm manages the numerous fuzzy concepts and variable factors of a project and also sets up the decision-making process in accordance with past cases and experiences.
Furthermore, it decreases the calculation difficulty and reduces the decision-making reaction time.
Three types of risk correlations combined with different characteristics of engineering projects are summarized, and each of these correlations is expounded at the project investment decision-making stage.
Quantitative and qualitative change theories of variable fuzzy sets are also addressed for investment risk warning.
The approach presented in this paper enables the risk analysis in a simple and intuitive manner and realizes the integration of objective and subjective risk assessments within the decision-makers' risk expectation.
American Psychological Association (APA)
Liu, Yan& YI, Ting-Hua& Wang, Cui-Qin. 2012. Investment Decision Support for Engineering Projects Based on Risk Correlation Analysis. Mathematical Problems in Engineering،Vol. 2012, no. 2012, pp.1-14.
https://search.emarefa.net/detail/BIM-1029512
Modern Language Association (MLA)
Liu, Yan…[et al.]. Investment Decision Support for Engineering Projects Based on Risk Correlation Analysis. Mathematical Problems in Engineering No. 2012 (2012), pp.1-14.
https://search.emarefa.net/detail/BIM-1029512
American Medical Association (AMA)
Liu, Yan& YI, Ting-Hua& Wang, Cui-Qin. Investment Decision Support for Engineering Projects Based on Risk Correlation Analysis. Mathematical Problems in Engineering. 2012. Vol. 2012, no. 2012, pp.1-14.
https://search.emarefa.net/detail/BIM-1029512
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1029512