A novel approach for risk evaluation and risk response planning in a geothermal drilling project using DEMATEL and fuzzy ANP

Alireza Ghassemi, Ayoub Darvishpour
2018 Decision Science Letters  
Risk response planning is a widely concerned issue. Project managers usually struggle to control different kinds of risks. In project risk management, after evaluating risks, the final process relates to choosing desirable responses to the risks. In this paper, a comprehensive framework confronts the issue in three main phases. In the first phase, all the risks, responses and their relations in a geothermal drilling project are detected. These relations imply there are inner dependent and outer
more » ... dependent relations. In the second phase, ANP, DEMATEL and fuzzy theory play important roles in weighting risks and responses. In the third phase, to enable a more realistic solution, a zero-one integer programming reflects a budget constraint and other required constraints. After obtaining the optimal responses, the effect of budget is analyzed. In addition, the influences of risks on each other are discussed more deeply. Collectively, this study offers a new perspective on how to handle project risks and choose their responses.
doi:10.5267/j.dsl.2017.10.001 fatcat:amyoptlllff7hd5p2docczmrjm