A Framework of Project Risk Simulation with Event Knowledge Graph

Risk simulation is crucial for effective project management, yet conventional methods often fail to capture the complex interdependencies and interactions among risk events. This paper proposes a novel approach to project risk simulation by integrating event knowledge graphs, fuzzy logic techniques, and game theory principles. Event knowledge graphs provide a structured representation of project events and their relationships thereby facilitating the simulation of risk events and pathways; fuzzy logic enables the assessment of uncertain events; and game theory aids in identifying high-risk events and elucidating risk pathways. A methodology is outlined encompassing the construction of event repositories, establishment of event knowledge graphs, and simulation of project risks. Following, a case study of wind farm projects demonstrates the practical application of the proposed approach, highlighting its effectiveness in simulating and analyzing project risks.