An analytic network process model for risk quantification of mega construction projects

Risk, complexity, and uncertainty are inherent components of megaprojects due to their unique features. However, existing project management practices lack a structured synthesis these concepts, which leads unrealistic risk assessments, ineffective strategies, poor performance. In order fill this gap, research aims develop holistic quantification approach incorporating risk-related concepts. For purpose, conceptual assessment process developed for mega construction projects was operationalized with an Analytic Network Process (ANP) model. The weights the sources in ANP model were determined by domain experts through two-round Delphi study. With purpose improving efficiency reliability knowledge elicitation process, study supported interactive data collection tool capable calculations. resulting helped prioritize projects. validity findings tested 11 Validation studies revealed potential ANP-based quantifying risks. Hence, novel proposed is expected contribute both literature unveiling interactions between concepts practitioners assisting them assessing risks more realistically. Although has been projects, it can also be implemented other project-based industries minor modifications.