Combining the Analytic Hierarchy Process and decision tree analysis provides an effective means for controlling a complex project
Conventional project management techniques are not always
sufficient to ensure that schedule, cost and quality goals are met
on large-scale construction projects. These jobs require complex
planning, designing and implementation processes. The main reasons
for a project's nonachievement in India's hydrocarbon processing
industry are changes in scope and design, altered government
policies and regulations, unforeseen inflation, under and/or
improper estimation. Projects that are exposed to such an uncertain
environment can be effectively managed by applying risk management
throughout the project life cycle.
Risk is by nature subjective. However, managing risk subjectively
poss
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