Risk Evaluation of Cost Overruns (COs) in Public Sector Construction Projects: A Fuzzy Synthetic Evaluation

In the Small Island Developing States (SIDS), public sector infrastructure projects (PSIPs) fail to both meet targeted performance metrics and deliver on intended benefits society. terms of cost metric, overruns (COs) beyond initial contract value are more a norm than unique occurrence. Therefore, ensure economic sustainability for SIDS, money PSIPs, there is need investigate evaluate risk impacts COs. The purpose this research was identify perceived overrun factors that within primary project stakeholders’ sphere control, reduce ongoing ambiguities exist in prioritization these risks. This achieved by extracting critical from selected comparative studies developing countries formulate closed-ended questionnaire be administered construction professionals Trinidad Tobago. Thereafter, process fuzzy synthetic evaluation (FSE) used develop model based three tiers risks: 11 factors, 3 groupings (CRGs) an overall level (ORL). results showed two highest-ranked risks were funding problems variations client. leading grouping client-related (5.370), followed professional-related (4.815) physical (4.870). ORL 5.068. Based FSE’s linguistic scaling, CRGs high PSIPs. adds CO body knowledge primarily ways. Firstly, study extends assessment previously undertaken scholarship into context SIDS build generalizability context-specific phenomenon. Secondly, FSE provides practical tool promoted use SIDS’ industry among practitioners focus prioritize planning phases improve contemporary practices execution projects. Finally, quantitative approach recommended supplement traditional qualitative management adopted thus contributing towards improved viability