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Application of Grey System Theory in Construction Management

Author

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  • 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
    1. Ghodsypour, S. H. & O'Brien, C., 1998. "A decision support system for supplier selection using an integrated analytic hierarchy process and linear programming," International Journal of Production Economics, Elsevier, vol. 56(1), pages 199-212, September.
    2. Chen, Chen-Tung & Lin, Ching-Torng & Huang, Sue-Fn, 2006. "A fuzzy approach for supplier evaluation and selection in supply chain management," International Journal of Production Economics, Elsevier, vol. 102(2), pages 289-301, August.
    3. Phuc Van Nguyen & Phong Thanh Nguyen & Phong Thanh Nguyen & Quyen Le Hoang Thuy To Nguyen & Vy Dang Bich Huynh, 2016. "Calculating Weights of Social Capital Index Using Analytic Hierarchy Process," International Journal of Economics and Financial Issues, Econjournals, vol. 6(3), pages 1189-1193.
    4. Xia, Weijun & Wu, Zhiming, 2007. "Supplier selection with multiple criteria in volume discount environments," Omega, Elsevier, vol. 35(5), pages 494-504, October.
    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.
    7. Sangeeta Pant & Anuj Kumar & Mangey Ram & Yury Klochkov & Hitesh Kumar Sharma, 2022. "Consistency Indices in Analytic Hierarchy Process: A Review," Mathematics, MDPI, vol. 10(8), pages 1-15, April.
    8. Ng, Wan Lung, 2008. "An efficient and simple model for multiple criteria supplier selection problem," European Journal of Operational Research, Elsevier, vol. 186(3), pages 1059-1067, May.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Nguyen, Hung The & Lam, Bao Quoc & Nguyen, Quyen Le Hoang Thuy To & Nguyen, Phong Thanh & Huynh, Vy Dang Bich, 2022. "Career Path Choice in the Industry 4.0 using Grey Decision Making," MPRA Paper 116683, University Library of Munich, Germany, revised Sep 2022.
    2. Huynh, Vy Dang Bich & Nguyen, Quyen Le Hoang Thuy To & Nguyen, Phong Thanh, 2022. "Modeling Quality of Urban Life Using Grey Analytical Hierarchy Process," MPRA Paper 116681, University Library of Munich, Germany, revised Jan 2023.

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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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