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A multi-objective optimization approach for selecting risk response actions: considering environmental and secondary risks

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Abstract

Given the intense competition and the current economic and political situation, it is clear that the execution projects, especially the large ones, will face many risks, which would be irreparable if not identified, analyzed, and responded to, so the risk management role is very effective in this regard. On the other hand, despite the available research, there are still significant shortcomings, especially in the risk response phase. It can be said that finding the best set of risk response actions is the main prerequisite for the success of the risk management process. One of the problems is the lack of focus of most of the existing approaches on secondary risks, which may arise during the implementation of the selected risk response actions. Therefore, to improve the selection of appropriate risk response actions, this study provides a goal programming model concerning secondary risks and intending to minimize undesirable deviations from expected changes in cost, time, and quality of the project due to the risk occurrence. After solving this model, an optimal set of both primary and secondary response actions is selected. A case study on the environmental risks of an oil and gas project has been conducted to demonstrate the model’s efficiency.

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Availability of data and material

All data, models, and code generated or used during the study appear in the submitted article.

Code availability

Not applicable.

Abbreviations

GP:

Goal programming

PRM:

Project risk management

WBS:

Work breakdown structure

CBR:

Case-based reasoning

cs:

The expected cost increase

ds:

The expected time delay

qs:

The expected quality decrease

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Authors and Affiliations

  1. Department of Industrial Engineering, Islamic Azad University, South Tehran Branch, Tehran, Islamic Republic of Iran

    Mahsa Parsaei Motamed & Shahrooz Bamdad

Authors
  1. Mahsa Parsaei Motamed
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  2. Shahrooz Bamdad
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Contributions

SB: writing—original draft, Writing—review and editing, software, methodology, conceptualization, investigation. MPM: writing—original draft, writing—review and editing, software, methodology, conceptualization, investigation.

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Correspondence to Shahrooz Bamdad.

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Appendix A

Appendix A

See Table 13.

Table 13 List of the project's primary response actions
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Parsaei Motamed, M., Bamdad, S. A multi-objective optimization approach for selecting risk response actions: considering environmental and secondary risks. OPSEARCH 59, 266–303 (2022). https://doi.org/10.1007/s12597-021-00541-5

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