A new dynamic risk evaluation model in fuzzy AHP based on engineering project life-cycle

Each project contains some degree of risk and it is required to be aware of these risks and to develop the necessary reasonable risk evaluation model to get the exact risk value of the project. Because projects' risks are multidimensional, changing during the project life-cycle, and can not be describled in crisp numbers, they must be evaluated by using multi-criteria decision-making method which can consider the time changing and interval numbers., The aim of this article is to provide an evaluation tool to evaluate the project risks under incomplete and vague information more exact than the present models. The article proposes a improved dynamic fuzzy analytic hierarchy process (AHP) model basing on project life-cycle, and the new model is a suitable and practical way of evaluating project risks.