A Model for the Evaluation of Critical IT Systems Using Multicriteria Decision-Making with Elements for Risk Assessment

Davor Maček, Ivan Magdalenić and Nina Begičević Ređep
Additional contact information
Davor Maček: Faculty of Organization and Informatics Varaždin, University of Zagreb, Pavlinska 2, 42000 Varaždin, Croatia
Ivan Magdalenić: Faculty of Organization and Informatics Varaždin, University of Zagreb, Pavlinska 2, 42000 Varaždin, Croatia
Nina Begičević Ređep: Faculty of Organization and Informatics Varaždin, University of Zagreb, Pavlinska 2, 42000 Varaždin, Croatia

Mathematics, 2021, vol. 9, issue 9, 1-24

Abstract: One of the important objectives and concerns today is to find efficient means to manage the information security risks to which organizations are exposed. Due to a lack of necessary data and time and resource constraints, very often it is impossible to gather and process all of the required information about an IT system in order to properly assess it within an acceptable timeframe. That puts the organization into a state of increased security risk. One of the means to solve such complex problems is the use of multicriteria decision-making methods that have a strong mathematical foundation. This paper presents a hybrid multicriteria model for the evaluation of critical IT systems where the elements for risk analysis and assessment are used as evaluation criteria. The iterative steps of the design science research (DSR) methodology for development of a new multicriteria model for the objectives of evaluation, ranking, and selection of critical information systems are delineated. The main advantage of the new model is its use of generic criteria for risk assessment instead of redefining inherent criteria and calculating related weights for each individual IT system. That is why more efficient evaluation, ranking, and decision-making between several possible IT solutions can be expected. The proposed model was validated in a case study of online banking transaction systems and could be used as a generic model for the evaluation of critical IT systems.

Keywords: information security; risk assessment; multicriteria decision-making; hybrid model; criteria dependence; critical IT systems (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2227-7390/9/9/1045/pdf (application/pdf)
https://www.mdpi.com/2227-7390/9/9/1045/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jmathe:v:9:y:2021:i:9:p:1045-:d:549430

Access Statistics for this article

Mathematics is currently edited by Ms. Emma He

More articles in Mathematics from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().