Abstract: Risk management is an important issue for engineering, procurement, and construction (EPC) projects. In considering the risks at different phases for such projects, dynamic risk management modules and evaluation index systems are presented. Then, an integrated risk evaluation method is proposed by integrating Delphi, fuzzy analytic hierarchy process (FAHP), risk matrix method, and fuzzy comprehensive evaluation model. With this method, risk can be evaluated in both qualitative and quantitative ways. Furthermore, risk management process for EPC projects is given. Based on the proposed method, an integrated risk management system for EPC projects is developed. A case study is presented to show the effectiveness of the proposed method.

Key words: engineering, procurement and construction（EPC）projects, risk management, fuzzy comprehensive evaluation