Turnaround project risk assessment using hybrid fuzzy SWARA and EDAS method: case of upstream oil process industries in Iran

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mohammad Reza Moniri ◽  
Akbar Alem Tabriz ◽  
Ashkan Ayough ◽  
Mostafa Zandieh
Keyword(s):  
Risk Assessment ◽  
Risk Analysis ◽  
Oil And Gas ◽  
Oil Industry ◽  
Multiple Attribute Decision Making ◽  
Fuzzy Evaluation ◽  
Project Risk ◽  
Content Type ◽  
Multiple Attribute ◽  
Project Risk Assessment

Purpose The purpose of this paper is to propose a new framework for assessing the risks of turnaround projects in upstream oil process plants. Design/methodology/approach This study represents a new hybrid framework for turnaround project risk assessment. First, according to experts’ opinions, the project risks were identified using interviews and brainstorming. The most important risks selected by experts and a hybrid multiple-attribute decision-making (MADM) method used to assess and prioritize them. The proposed MADM method uses fuzzy step-wise weight assessment ratio analysis (SWARA) and fuzzy evaluation based on distance from average solution (EDAS) methods based on trapezoidal fuzzy numbers. Findings In this research, 28 usual risks of turnaround projects are identified and 10 risks are then selected as the most important ones. The findings show, that among the risks of upstream oil industry turnaround projects from the perspective of experts, the risk of timely financing by the employer, with an appraisal score of 0.83, has the highest rank among the risks and the risk of machine and equipment failure during operation, with an appraisal score of 0.04, has the lowest rank. Research limitations/implications The risk analysis based on inputs collected from the experts in the Iranian upstream oil industry, and so the generalization of the results is limited to the context of developing countries, especially oil producer ones. However, the proposed risk analysis methodology and key insights developed can be useful for researchers and practitioners in any other process industry everywhere. Originality/value A novel framework for risk assessment is introduced for turnaround projects in the oil industry using MADM methods. There is no literature on using MADM methods for turnaround project risk analysis in the oil and gas industries. Furthermore, this paper presents a hybrid fuzzy method based on SWARA and EDAS.

scholarly journals A Framework for Project Risk Assessment in Dynamic Networks: A Case Study of Oil and Gas Megaproject Construction

IEEE Access ◽  
2021 ◽  
pp. 1-1
Author(s):  
Amir Farmahini Farahani ◽  
Kaveh Khalili-Damghani ◽  
Hosein Didehkhani ◽  
Amir Homayoun Sarfaraz ◽  
Mehdi Hajirezaie
Keyword(s):  
Risk Assessment ◽  
Oil And Gas ◽  
Dynamic Networks ◽  
Project Risk ◽  
Project Risk Assessment

Oil will drive record Guyana growth again in 2022

2021 ◽  
Keyword(s):  
Climate Change ◽  
Oil And Gas ◽  
National Development ◽  
Oil Industry ◽  
Medium Term ◽  
Content Type ◽  
Development Plans ◽  
The Government ◽  
Wage Increases ◽  
Oil And Gas Sector

Significance As in 2020 and 2021, this projected growth will be driven by the ongoing expansion of the oil and gas sector, and related investment and state revenues. These rising revenues will support the government’s ambitious national development plans, which include both increased social and infrastructure spending. Impacts The government will prioritise enhancing the oil and gas investment framework. Investment into joint oil and gas infrastructure with Suriname will benefit the growing oil industry in both countries. The expansionary fiscal policy may lead to a rise in inflation, leading to further calls for wage increases. In the medium term, strong growth in the oil and gas sector could lead to increased climate change activism in the country.

scholarly journals THE CURRENT STATE OF PROJECT RISK ASSESSMENT AND EDUCATION NEEDS IN PROJECT RISK MANAGEMENT

2019 ◽  
Vol 7 ◽  
Author(s):  
Matej Masár ◽  
Mária Hudáková
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Project Managers ◽  
Project Risk Management ◽  
Project Risk ◽  
Qualitative And Quantitative ◽  
Current State ◽  
The World ◽  
Project Risks ◽  
Project Risk Assessment

Current trends show that education in the field of project risk management is a very actual topic. Long - term projects, which was realized in 2018, was mainly focused on R&D across the world. Short - term projects, was focused on innovation and improve manufacturing processes. Many projects failed because project managers did not manage project risks. Project managers have less knowledge and skills on how to effectively manage project risks, especially risks in the planning phase of projects. The main aim of this article is to analyze the current state of usage project risk assessment across the world, based on own empirical research, which was provided, by authors in 2018 and 2019 (mainly level of usage project risk management methods, experience and level of education). The research focused on analyzing the current state of project risk assessment among continents. The authors focused on the average level of use qualitative and quantitative project risk analysis by project managers, level of project risk management experience by project managers and complexity of learning in using of qualitative and quantitative project risk management methods and tools.  Some recommendation were established to educate project managers in the field of project risk management.

Economic Project Risk Assessment in Remediation Projects Prior to Construction: Methodology Development and Case Study Application

2015 ◽  
Vol 25 (2) ◽  
pp. 117-138 ◽  
Author(s):  
Petra Brinkhoff ◽  
Malin Norin ◽  
Jenny Norrman ◽  
Lars Rosén ◽  
Kristine Ek
Keyword(s):  
Risk Assessment ◽  
Project Risk ◽  
Methodology Development ◽  
Study Application ◽  
Project Risk Assessment

A novel MADM approach to the ground-handling agent selection problem in B2B markets

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mahmut Bakır ◽  
Emircan Özdemir ◽  
Şahap Akan
Keyword(s):  
Airline Industry ◽  
Multiple Attribute Decision Making ◽  
Content Type ◽  
B2b Marketing ◽  
Multiple Attribute ◽  
Time In Literature ◽  
Agent Selection ◽  
Ground Handling ◽  
First Time

PurposeGround-handling services are important for effective aircraft operations in the air transportation system. Airlines often outsource these services to ground-handling agents through business-to-business (B2B) marketing decisions. Therefore, this paper aims to address the problem of ground-handling agent selection in the airline industry.Design/methodology/approachA real-world case study was carried out to demonstrate the applicability of the integrated best worst method and fuzzy multi-attribute ideal real comparative analysis (F-MAIRCA) approach to solve ground-handling agent selection problems under uncertainty and imprecision. A two-stage sensitivity analysis was also conducted to ensure the credibility and validity of the application.FindingsIn the weighting stage, “Quality” was determined as the most important criterion in terms of supplier performance. With regard to the performance of the ground-handling agents, A2 was found as the optimal supplier in terms of both credibility and validity.Practical implicationsThis study enumerated several criteria that ground-handling agents must meet in order to effectively supply services for the airlines. In addition, this study provides a novel framework from which managers can gain additional benefits from their businesses. Finally, it is concluded that this approach will help airline managers quantitatively in choosing the most appropriate ground-handling agent.Originality/valueThe contributions of this study to the existing literature are twofold. First, we propose a novel multiple attribute decision-making approach to address the problem of supplier selection for airlines under uncertainty and imprecision. Second, the selection of ground-handling agents from the B2B perspective is addressed for the first time in literature.

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