Project risk evaluation using a fuzzy analytic hierarchy process: An application to information technology projects: Research Articles

Authors:
Fatih Tüysüz;Cengiz Kahraman
Affiliations:
Department of Mathematics, Istanbul Bilgi University, 34440 Dolapdere, Istanbul, Turkey;Department of Industrial Engineering, Istanbul Technical University, 34367 Macka, Istanbul, Turkey
Venue:
International Journal of Intelligent Systems
Year:
2006

Citing 0
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Abstract

Projects are critical to the realization of performing organization's strategies. Each project contains some degree of risk and it is required to be aware of these risks and to develop the necessary responses to get the desired level of project success. Because projects' risks are multidimensional, they must be evaluated by using multi-attribute decision-making methods. The aim of this article is to provide an analytic tool to evaluate the project risks under incomplete and vague information. The fuzzy analytic hierarchy process (AHP) as a suitable and practical way of evaluating project risks based on the heuristic knowledge of experts is used to evaluate the riskiness of an information technology (IT) project of a Turkish firm. The means of the triangular fuzzy numbers produced by the IT experts for each comparison are successfully used in the pairwise comparison matrices. © 2006 Wiley Periodicals, Inc. Int J Int Syst 21: 559–584, 2006.