AHP method for risk assessment of theater projects

<p>The construction industry experiences many issues, including high interest rates for project loans, difficulties from carbon dioxide emissions and global warming. Since the number of theatre projects is rising, risk management of theatre-style buildings has become important. This research investigates how to successfully manage risk using the Analytic Hierarchy Process, which is applied as an example on a large theatre project. This method converts subjective evaluations into indicators and combines qualitative and quantitative techniques to reduce uncertainty effectively. A risk assessment framework that ranks each risk factor and determines its importance and weight is developed. Finally, the weight and the contribution of these factors are estimated to propose the corresponding monitoring and control measures and to provide a decision-making basis for risk management of theatre projects. It is concluded that the empirical analysis of this study can help project managers to better understand risks in theatre project construction, as well as to take the corresponding measures for risk management and control. The most important risks in theatre projects are: economic risk, the delivery of stage equipment, the electricity supply to the theatre and concrete encapsulation backfill. For risk groups, the most important risk groups are: economic risk, occupational accidents and stage equipment.   </p>