 A multi-criteria decision-making process for project risk management method selectionFranck Marle and Thierry Gidel International Journal of Multicriteria Decision Making, 2012, vol. 2, issue 2, 189-223 Abstract: With projects facing tight constraints, uncertainty and change, they are more than ever exposed to risk. It has thus become increasingly important to effectively and efficiently manage project risks. Project risk management thus plays an important role in the quality and reliability of decisions made during a project. Our objective in this paper is to provide a project office manager or a project manager with one or more adequate project risk management (PRM) methods. To do this, we propose a structured approach based on a multi-criteria decision analysis model to select these methods. Firstly, we propose a list of alternative PRM methods and a list of selection criteria. Secondly, we capture, by interviewing decision-makers, data about their organisation and their preferences. Fuzzy numbers are used to express the relative importance of the criteria. Thirdly, the selection process is run by screening out inadequate methods and by ranking remaining alternatives. An application for one example is presented. Keywords: multicriteria decision making; MCDM; fuzzy numbers; method selection; project management; project risk management; PRM; risk identification; risk assessment; group decision making; preference modelling; ranking. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:ijmcdm:v:2:y:2012:i:2:p:189-223 Access Statistics for this article More articles in International Journal of Multicriteria Decision Making from Inderscience Enterprises Ltd |
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