The purpose of this paper is to examine the existing risks for the offshore project and risk weighting using the fuzzy best worst method (FBWM). In offshore oil projects, we face six major risks. Each of these risks is divided into smaller risks leaving us to have a total of 34 risks. | An application of fuzzy BWM for risk assessment in offshore oil projects Journal of Project Management 4 2019 233 240 Contents lists available at GrowingScience Journal of Project Management homepage An application of fuzzy BWM for risk assessment in offshore oil projects Reza Ketabchia and M. R. Ghaelia a School of Management New York Institute of Technology 1700 - 701 W Georgia St. Vancouver BC V7Y 1K8 Canada CHRONICLE ABSTRACT Article history The purpose of this paper is to examine the existing risks for the offshore project and risk Received November 28 2018 weighting using the fuzzy best worst method FBWM . In offshore oil projects we face six Received in revised format De- major risks. Each of these risks is divided into smaller risks leaving us to have a total of 34 cember 25 2018 risks. Some of these risks are internal and some are external risks. In this method first the Accepted March 1 2019 Available online experts of this field determined the best and the worst type of risk. Then using the experts March 1 2019 opinions the study compared the remaining risks with the two selected risks and the other Keywords weights are determined. In our survey Technical Risk and Project Execution is the most Project management important risk factor followed by Political Risk and Sanctions Market risk Manage- Risk assessment ment risk Financial risk and currency fluctuations and Environmental risk . Offshore oil projects 2019 by the authors licensee Growing Science Canada. 1. Introduction Oil is the vital force of modern economics and as countries are developing and refining demand for oil is rising significantly. Future oil demand is difficult to predict but in general it will be linked to the growth of industrial production. Similarly countries with rapid economic growth are likely significantly increase their demands for oil. Specifically countries like China and India are fast growing in growth domestic product GDP . Between 1991 and 2001 .
