A decision support system to evaluate B.O.T project risks under uncertainty environment

Abstract

B.O.T approach is one of the most common and successful approaches used for infrastructure procurement. In spite of its many advantages, B.O.T can create high risks for its project company, so that the lack of proper risks management may impose economic and social costs to all contract parties. Therefore, risk management is a requirement for B.O.T project success. Risks assessment has considerable importance in risk management process. Also in practice, a B.O.T project risks evaluation often faces with uncertainties for its project company. Therefore, a B.O.T project risks evaluation under uncertainty environment is considered in this study. First, IFIEP-TOPSIS/TPZSG model based on IEP model is proposed whose performance is better than IEP model. Then, a decision support system is suggested using IFUTASTAR method for assessing risks. In IFUTASTAR, the initial ranking of risks is necessary, therefore, IFIEP-TOPSIS/TPZSG model is proposed. Finally, a numerical example is presented to examine this proposed model.