RISK ANALYSIS USING ANALYTIC NETWORK PROCESS FOR CONSTRUCTION PROJECT TENDERING
This paper investigates a list of risk factors in the construction tendering process. A new method called Analytic Network Process (ANP) is introduced to analyze the relationships among these factors. A hierarchical structure index system is established, and based on this hierarchical system and a project case study, the modeling mechanism and the ANP calculation procedures are presented in details. According to the ANP analysis result, the degree of influence of each risk factor on the whole project is determined. The proposed method provides useful reference and information for the construction contractors to adjust their bidding strategy.