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Risk Evaluation of a UHV Power Transmission Construction Project Based on a Cloud Model and FCE Method for Sustainability

Author

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  • Huiru Zhao

    (School of Economics and Management, North China Electric Power University, Beijing 102206, China)

  • Nana Li

    (School of Economics and Management, North China Electric Power University, Beijing 102206, China)

Abstract

In order to achieve the sustainable development of energy, Ultra High Voltage (UHV) power transmission construction projects are being established in China currently. Their high-tech nature, the massive amount of money involved, and the need for multi-agent collaboration as well as complex construction environments bring many challenges and risks. Risk management, therefore, is critical to reduce the risks and realize sustainable development of projects. Unfortunately, many traditional risk assessment methods may not perform well due to the great uncertainty and randomness inherent in UHV power construction projects. This paper, therefore, proposes a risk evaluation index system and a hybrid risk evaluation model to evaluate the risk of UHV projects and find out the key risk factors. This model based on a cloud model and fuzzy comprehensive evaluation (FCE) method combines the superiority of the cloud model for reflecting randomness and discreteness with the advantages of the fuzzy comprehensive evaluation method in handling uncertain and vague issues. For the sake of proving our framework, an empirical study of “Zhejiang-Fuzhou” UHV power transmission construction project is presented. As key contributions, we find the risk of this project lies at a “middle” to “high” level and closer to a “middle” level; the “management risk” and “social risk” are identified as the most important risk factors requiring more attention; and some risk control recommendations are proposed. This article demonstrates the value of our approach in risk identification, which seeks to improve the risk control level and the sustainable development of UHV power transmission construction projects.

Suggested Citation

  • Huiru Zhao & Nana Li, 2015. "Risk Evaluation of a UHV Power Transmission Construction Project Based on a Cloud Model and FCE Method for Sustainability," Sustainability, MDPI, vol. 7(3), pages 1-30, March.
    • Handle: RePEc:gam:jsusta:v:7:y:2015:i:3:p:2885-2914:d:46662
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    References listed on IDEAS

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    Cited by:

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    2. Mohammad Ebrahim Sadeghi & Hamed Nozari & Hadi Khajezadeh Dezfoli & Mehdi Khajezadeh, 2021. "Ranking of different of investment risk in high-tech projects using TOPSIS method in fuzzy environment based on linguistic variables," Papers 2111.14665, arXiv.org.
    3. Dongxiao Niu & Weibo Zhao & Si Li & Rongjun Chen, 2018. "Cost Forecasting of Substation Projects Based on Cuckoo Search Algorithm and Support Vector Machines," Sustainability, MDPI, vol. 10(1), pages 1-11, January.
    4. Luis Serrano-Gomez & Jose Ignacio Munoz-Hernandez, 2019. "Monte Carlo approach to fuzzy AHP risk analysis in renewable energy construction projects," PLOS ONE, Public Library of Science, vol. 14(6), pages 1-20, June.
    5. Yunna Wu & Meng Yang & Haobo Zhang & Kaifeng Chen & Yang Wang, 2016. "Optimal Site Selection of Electric Vehicle Charging Stations Based on a Cloud Model and the PROMETHEE Method," Energies, MDPI, vol. 9(3), pages 1-20, March.
    6. Achintya Ghatak & Adarsh Garg, 2022. "Power transmission project: a framework to align project success with organization goal," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 13(4), pages 1817-1833, August.
    7. Rishang Long & Jianhua Zhang, 2016. "Risk Assessment Method of UHV AC/DC Power System under Serious Disasters," Energies, MDPI, vol. 10(1), pages 1-13, December.
    8. Yongyou Nie & Jinbu Zhao & Yiyi Zhang & Jizhi Zhou, 2020. "Risk Evaluation of “Not-In-My-Back-Yard” Conflict Potential in Facilities Group: A Case Study of Chemical Park in Xuwei New District, China," Sustainability, MDPI, vol. 12(7), pages 1-18, March.
    9. Yin Junjia & Aidi Hizami Alias & Nuzul Azam Haron & Nabilah Abu Bakar, 2023. "A Bibliometric Review on Safety Risk Assessment of Construction Based on CiteSpace Software and WoS Database," Sustainability, MDPI, vol. 15(15), pages 1-24, August.
    10. Guangdong Wu , & Kaifeng Duan & Jian Zuo & Xianbo Zhao & Daizhong Tang, 2017. "Integrated Sustainability Assessment of Public Rental Housing Community Based on a Hybrid Method of AHP-Entropy Weight and Cloud Model," Sustainability, MDPI, vol. 9(4), pages 1-25, April.
    11. Goutom K. Pall & Adrian J. Bridge & Jason Gray & Martin Skitmore, 2019. "Causes of Delay in Power Transmission Projects: An Empirical Study," Energies, MDPI, vol. 13(1), pages 1-29, December.

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