Selecting Appropriate Risk Response Strategies Considering Utility Function and Budget Constraints: A Case Study of a Construction Company in Iran
Why this work is in the frame
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Bibliographic record
Abstract
Successful implementation of construction projects worldwide calls for a set of effective risk management plans in which uncertainties associated with risks and effective response strategies are addressed meticulously. Thus, this study aims to provide an optimization approach with which risk response strategies that maximize the utility function are selected. This selection is by opting for the most appropriate strategies with the highest impact on the project regarding the weight of each risk and budget constraints. Moreover, the risk assessment and response strategy of a construction project in Iran as a case study, based on the global standard of the project management body of knowledge (PMBOK) and related literature, is evaluated. To handle the complexity of the proposed model, different state of the art metaheuristic algorithms including the ant lion optimizer (ALO), dragonfly algorithm (DA), grasshopper optimization algorithm (GOA), Harris hawks optimization (HHO), moth-flame optimization algorithm (MFO), multi-verse optimizer (MVO), sine cosine algorithm (SCA), salp swarm algorithm (SSA), whale optimization algorithm (WOA), and grey wolf optimizer (GWO). These algorithms are validated by the exact solver from CPLEX software and compare with each other. One finding from this comparison is the high performance of MFO and HHO algorithms. Based on some sensitivity analyses, an extensive discussion is provided to suggest managerial insights for real-world construction projects.
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Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it