Project risk assessment using the analytic hierarchy process

Construction projects often fail to achieve their time, budget, and quality goals. This is frequently due to the failure of the contractor to analyze and assess all risk factors. The analytic hierarchy process (AHP) is an approach that can be used to analyze and assess project risks during the bidding stage of a construction project and to overcome the limitations of the approaches currently used by contractors. The AHP provides a flexible, easily understood way to assist the decision-maker in formulating a problem in a logical and rational manner. A review of the AHP and a description of its application in the assessment of the riskiness of constructing the Jamuna multipurpose bridge in Bangladesh are included.< <ETX xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">&gt;</ETX>