Prioritization of Risk Events in Ppp Wind Power Projects Using Integrated Fmea and Monte Carlo Simulation

dc.contributor.author Akçay, Emre Caner
dc.contributor.other Civil Engineering
dc.date.accessioned 2024-09-10T21:39:09Z
dc.date.available 2024-09-10T21:39:09Z
dc.date.issued 2021
dc.department Atılım University en_US
dc.department-temp ATILIM ÜNİVERSİTESİ en_US
dc.description.abstract The popularity of public private partnership (PPP) projects has grown all over the world, especially indeveloping countries. The success of PPP projects heavily depends on how effectively risk assessments areperformed. Failure Mode and Effects Analysis (FMEA) enables risk assessment by considering the impact,the probability, and the detection rate of risk events. However, it is very difficult to predict a single value forthese variables. The objective of this research is to integrate FMEA and Monte Carlo simulation, and to usethis model to perform risk assessment and prioritization of risks in PPP projects. The proposed model wasapplied to a real wind power generation investment located in the Aegean region of Turkey. The top threeimportant risk events are “unfavorable wind speed”, “fluctuation in exchange rates”, and “interest ratevolatility”. The model perfumed to the satisfaction of experts. The primary contributions of this researchinclude (1) a method that allows the identification of the risk events in PPP projects; (2) a model that performsrisk assessment and prioritization of risk events in PPP projects; (3) an integrated FMEA and Monte Carlosimulation model that performs stochastic risk assessment in PPP projects. Both public agencies and privateconsortia should benefit from the proposed model. en_US
dc.identifier.citationcount 0
dc.identifier.doi 10.31462/jcemi.2021.02080091
dc.identifier.endpage 91 en_US
dc.identifier.issn 2630-5771
dc.identifier.issue 2 en_US
dc.identifier.startpage 80 en_US
dc.identifier.trdizinid 461612
dc.identifier.uri https://doi.org/10.31462/jcemi.2021.02080091
dc.identifier.uri https://search.trdizin.gov.tr/tr/yayin/detay/461612/prioritization-of-risk-events-in-ppp-wind-power-projects-using-integrated-fmea-and-monte-carlo-simulation
dc.identifier.uri https://hdl.handle.net/20.500.14411/7544
dc.identifier.volume 4 en_US
dc.institutionauthor Akçay, Emre Caner
dc.language.iso en en_US
dc.relation.ispartof Journal of Construction Engineering, Management & Innovation (Online) en_US
dc.relation.publicationcategory Makale - Ulusal Hakemli Dergi - Kurum Öğretim Elemanı en_US
dc.rights info:eu-repo/semantics/openAccess en_US
dc.title Prioritization of Risk Events in Ppp Wind Power Projects Using Integrated Fmea and Monte Carlo Simulation en_US
dc.type Article en_US
dspace.entity.type Publication
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