Risk management of engineering projects installation using Analytic Hierarchy Process

The electromechanical installation project in the city park is confronted with numerous risks, prominently involving uncertainty and human factors, which are critical to the project’s overall success. This study carefully identified and categorized the project risks into a detailed hierarchical structure, employing the Analytic Hierarchy Process (AHP) to systematically quantify their relative importance. The findings revealed that uncertainty factors bear a significantly greater influence on the overall project risks compared to human factors. Notably, the research highlighted an inverse relationship between the reduction of uncertainty and the effectiveness of human intervention, thus offering a novel perspective on managing project risks. This study's technical innovation lies in the creation of a comprehensive risk assessment framework, which enables project managers to accurately identify, evaluate, and devise effective control strategies tailored to the specific risks identified. Future research endeavors will focus on harnessing advanced data analysis technologies and artificial intelligence algorithms to enhance the risk assessment process further, aiming to improve decision-making accuracy, optimize resource allocation, and ultimately boost project success rates.