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Application of Grey System Theory in Construction Management

Author

Listed:
  • Phu Pham, Cuong
  • Thanh Phan, Phuong
  • Nguyen, Phong Thanh

Abstract

Materials are an important input in building construction. They account for a substantial proportion of investment capital and construction volume. However, as material prices are often affected by the market, choosing the right construction supplier is not an easy decision for contractors, especially for those materials required during the finishing phase of construction. As one of these finishing materials is paint, identifying core criteria for evaluating and selecting the best construction paint supplier is a crucial economic choice for construction contractors. Assessing the importance of these criteria is a complex multi-criteria decision-making problem. To reflect the risks and uncertainties in this problem, this paper presents a grey system theory approach to prioritize important criteria for selecting paint material suppliers in construction projects.

Suggested Citation

  • Phu Pham, Cuong & Thanh Phan, Phuong & Nguyen, Phong Thanh, 2022. "Application of Grey System Theory in Construction Management," MPRA Paper 116788, University Library of Munich, Germany, revised Jul 2022.
    • Handle: RePEc:pra:mprapa:116788
    as

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    File URL: https://mpra.ub.uni-muenchen.de/116788/1/MPRA_paper_116788.pdf
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    References listed on IDEAS

    as
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    5. Amin Vafadarnikjoo & Marco Scherz, 2021. "A Hybrid Neutrosophic-Grey Analytic Hierarchy Process Method: Decision-Making Modelling in Uncertain Environments," Mathematical Problems in Engineering, Hindawi, vol. 2021, pages 1-18, June.
    6. Ahmad Alkharabsheh & Sarbast Moslem & Laila Oubahman & Szabolcs Duleba, 2021. "An Integrated Approach of Multi-Criteria Decision-Making and Grey Theory for Evaluating Urban Public Transportation Systems," Sustainability, MDPI, vol. 13(5), pages 1-15, March.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    construction management; project management; evaluation and selection criteria; material management; paint supplier; grey theory;
    All these keywords.

    JEL classification:

    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • L74 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Construction
    • N6 - Economic History - - Manufacturing and Construction
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure

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