ABSTRACT
Under the adverse impact of the global epidemic, transnational construction companies have been facing mounting pressures in managing the project schedule. To propose a comprehensive decision-making solution for the project risk control, the author carried out an empirical study on the risk evaluation and response of upgrading the railway line between Walvis Bay and Kranzberg in Namibia throughout the whole project life cycle from the construction preparation stage, construction stage, acceptance stage to the other stage, by conducting the questionnaire of 160 experts to summarize a total of 39 key risk factors. The risk assessment model was established by defining the index weights of each factor based on the combination of the Analytic Hierarchy Process, Entropy Method, and Fuzzy Comprehensive Evaluation Method. Such a model was constructed to provide a decision basis for project risk control. The results illustrated that the overall schedule risk management was in the range of Important, and among the critical path risks, the project construction preparation stage was the highest, followed by the project completion acceptance, while the risk of the project construction stage was relatively the lowest. Therefore, the author devised three countermeasures in the sub-chapter of the Conclusion. It will be of certain reference significance on the risk management decision analysis in academia and industry for wide-ranging Namibian railway projects, as adopted along with the FAHP and Entropy Method and other hybrid research methods.
