Abstract
Risk analysis is an important process of risk management. However, the application of current tools such as artificial intelligence (AI) and fuzzy methods have not studied extensively in the literature. This paper aims to review AI and fuzzy methods for risk analysis in different industries around the world and their potential application in the Malaysian construction industry. In this paper, we reviewed and synthesized 37 journal papers published between 2007 and 2018 and categorized them according to the application area, type of project and type of industry. Through this review, we found that AI approaches including machine learning were clearly used in assessing the associated risks in the financial industry and software projects. In addition, fuzzy methods were broadly used in construction projects for risk assessment. In general, machine learning still has not applied widely for risk analysis in construction projects, despite using it for other tasks in construction projects such as finding optimal project bidding strategy and assessing the subcontractors and suppliers' performances. However, in the Malaysian construction projects, there were no signs of using AI tools for risk analysis and the most used techniques for risk analysis were checklists and brainstorming. Few studies have addressed the application of AI for risk analysis in construction projects in Malaysia. This research provides the Malaysian construction practitioners with a review of the level of risk analysis practices that can be applied, and the tools mostly used in construction projects in general and for risk analysis in particular.
| Original language | English |
|---|---|
| Title of host publication | Book of Abstracts: ASEAN Post Graduate Conference: Inclusive Built Environment Towards Realising New Urban Agenda, 15 November 2018, University of Malaya, Kuala Lumpur |
| Publisher | University of Malaya |
| Pages | 9-9 |
| Number of pages | 1 |
| Publication status | Published - 2018 |
| Event | ASEAN Post Graduate Conference - Duration: 1 Jan 2018 → … |
Conference
| Conference | ASEAN Post Graduate Conference |
|---|---|
| Period | 1/01/18 → … |
Keywords
- artificial intelligence
- risk assessment
- risk management
- construction projects
- fuzzy logic
- machine learning
- Malaysia