Improved simulated annealing based risk interaction network model for project risk response decisions

Risk interaction changes the probability and impact of a given risk, which may result in a less effective risk response decision (RD). This study presents an approach for supporting the project manager in making RDs, comprising a simulation model of risk interaction network (RIN) for evaluating the RDs and an improved simulated annealing (SA) algorithm for optimizing the RDs. The simulation model considers different risk levels and the...