Search results

The aim of this paper is to predict and minimize the risks of oil, gas and petrochemical projects. Besides, reducing the likelihood of occurrence and minimizing risks impact on the projects to reduce the probable costs and improve the economic situation is another purpose of this paper.

This paper provides a fuzzy Decision-Making Trial and Evaluation Laboratory (DEMATEL) – a technique that assist to solve decision-making problems – and IP (Impact & Probability) table methods to identify and analyze critical risks in energy projects, and then fuzzy Binary Logistic Regression (BLR) in order to predict the probability of each level of risk for more efficient risk management in projects. Furthermore, in this paper, the fuzzy BLR (FBLR) is optimized such that the probability of a high level of risk for the implementation of the project has been minimized using meta-heuristic algorithm.

The results from the point of view of experts show that combination of fuzzy DEMATEL with FBLR approach as well as using SA algorithm, in order to optimize the high level of risks, can provide a smart approach to managing risks with more success.

The application of the proposed method is illustrated via a real data set from energy projects.

We propose combined fuzzy DEMATEL and FBLR methods to predict and optimize the risks of the energy projects, which is the innovation of this paper.