Taylor and Francis Group and Juraj Dobrila University of Pula, Faculty of economics and tourism Dr. Mijo Mirković
Doi
Abstract
Risk assessment is a vital part in project management. It is possible
that experts may provide comprehensive linguistic preference
information in distinct forms with respect to different
aspects of the risk assessment problem in investment management.
It is a challenge to model and deal with comprehensive linguistic
preference assessments in multiple forms given by experts.
In this regard, this paper defines the generalised probabilistic linguistic
preference relation (GPLPR) to represent different forms of
linguistic preference information in a unified structure. Then, a
probability cutting method is proposed to simplify the representation
of a GPLPR. Afterwards, a graph-theory-based method is
developed to improve the consistency degree of a GPLPR. A
group decision making method with GPLPRs is then proposed to
carry on the risk assessment in project management. Discussions
regarding the comparative analysis and managerial insights
are given