IDEAS home Printed from https://ideas.repec.org/a/ids/ijmcdm/v2y2012i2p189-223.html
   My bibliography  Save this article

A multi-criteria decision-making process for project risk management method selection

Author

Listed:
  • Franck Marle
  • Thierry Gidel

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.

Suggested Citation

  • Franck Marle & Thierry Gidel, 2012. "A multi-criteria decision-making process for project risk management method selection," International Journal of Multicriteria Decision Making, Inderscience Enterprises Ltd, vol. 2(2), pages 189-223.
  • Handle: RePEc:ids:ijmcdm:v:2:y:2012:i:2:p:189-223
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=46948
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Senses, Sena & Kumral, Mustafa, 2023. "Embedding extreme events to mine project planning: Implications on cost, time, and disclosure standards," Resources Policy, Elsevier, vol. 86(PA).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ids:ijmcdm:v:2:y:2012:i:2:p:189-223. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=350 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.