A multi-criteria decision-making process for project risk management method selection Online publication date: Sat, 30-Aug-2014
by Franck Marle; Thierry Gidel
International Journal of Multicriteria Decision Making (IJMCDM), Vol. 2, No. 2, 2012
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.
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Multicriteria Decision Making (IJMCDM):
Login with your Inderscience username and password:
Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.
If you still need assistance, please email subs@inderscience.com
Our Blog 
Follow us on Twitter 
Visit us on Facebook