Risk-Oriented Assessment Model for Project Bidding Selection in Construction Industry of Pakistan Based on Fuzzy AHP and TOPSIS Methods

  • Muhammad Nazam
  • Jamil Ahmad
  • Muhammad Kashif Javed
  • Muhammad Hashim
  • Liming Yao
Conference paper

DOI: 10.1007/978-3-642-55122-2_101

Part of the Advances in Intelligent Systems and Computing book series (AISC, volume 281)
Cite this paper as:
Nazam M., Ahmad J., Javed M.K., Hashim M., Yao L. (2014) Risk-Oriented Assessment Model for Project Bidding Selection in Construction Industry of Pakistan Based on Fuzzy AHP and TOPSIS Methods. In: Xu J., Cruz-Machado V., Lev B., Nickel S. (eds) Proceedings of the Eighth International Conference on Management Science and Engineering Management. Advances in Intelligent Systems and Computing, vol 281. Springer, Berlin, Heidelberg

Abstract

Risk management for the selection of complex multiple projects during the bidding process is one of the most significant problem in construction industries all over the world. This article develops an evaluation model based on fuzzy set theory, analytical hierarchy process (AHP) and the technique for order performance by similarity to ideal solution (TOPSIS) methods. The criteria weight is achieved by adopting Fuzzy set theory and Analytical Hierarchy Process (AHP). Then, with the minimized risk as the objective, the technique for order performance by similarity to ideal solution (TOPSIS) is applied to determine the final ranking level of the bidding projects according to their closeness coefficient. Finally, a real world application of National Construction Limited (NCL), a largest government oriented company of Pakistan, is conducted to demonstrate the utilization of the proposed model. The results indicate that the proposed model is feasible for risk assessment of project bidding selection in construction industry.

Keywords

Risk management Multi-projects selection Criteria weights Fuzzy set Fuzzy TOPSIS 

Copyright information

© Springer-Verlag Berlin Heidelberg 2014

Authors and Affiliations

  • Muhammad Nazam
    • 1
  • Jamil Ahmad
    • 1
  • Muhammad Kashif Javed
    • 1
  • Muhammad Hashim
    • 1
  • Liming Yao
    • 1
  1. 1.Uncertainty Decision-Making LaboratorySichuan UniversityChengduPeople’s Republic of China

Personalised recommendations