ABSTRACT
This paper is an attempt to develop a new project risk management method for elevated metro corridor projects. Mega infrastructure projects are exposed to grander risks due to numerous phases like feasibility, land acquisition, design, development, implementation, execution and final commissioning. So, a methodical technique of risk analysis is required to identify, collect, compute and analyse these risks, and accordingly articulate risk response plans. Expected Value Method is a well-organised method that helps in identifying the risk severity by computing Composite Likelihood factor and Composite Impact factor for each activity. But inter-relationship between the input terms of EVM i.e. Likelihood and impact, is not possible within the scope of EVM. So, fuzzy logic is assimilated within EVM to map the interrelationship between input terms. Case study of Bangalore metro rail project construction in numerous phases are presented to validate the concept of this technique. The use of this approach helps to establish the degree of compatibility between the quantitative results obtained from questionnaires and the qualitative terms supporting the same. Ranking of major activities of transportation project of Southern India is done by using Fuzzy EVM method.
