A Novel Project Risk Assessment Method Development via AHP-TOPSIS Hybrid Algorithm

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dc.authorid0000-0003-4581-2478en_US
dc.contributor.authorBaylan, Emir Başar
dc.date.accessioned2020-11-03T09:20:07Z
dc.date.available2020-11-03T09:20:07Z
dc.date.issued2020en_US
dc.departmentFakülteler, Mühendislik ve Tasarım Fakültesi, Endüstri Mühendisliği Bölümüen_US
dc.description.abstractIn project planning, risk assessment method plays vital role. Poorly assessed project risks cause degeneration at project cost, project completion time, and project output quality and project scope. Each project activity risk influence these project success factors. Implementation performance of a project activity triggers or smooth of its successor’s activity risks. Because of this; employing robust and detailed risk assessment methods is important to reach those project goals. In project risk assessment literature, when it is investigated, it is noticed that risk assessment and evaluation methods are only developed at whole project level. Actually, they are not comprehensive enough to evaluate the project risks at activity level. Besides that traditional risk assessment methods such as risk matrix does not able analyze project risk quantitatively. With this motivation, main aim of this study is developing a multi-criteria based decision method which prioritizing project risks at activity level. AHP and TOPSIS method are combined to developed novel method. In this hybrid method, Constructing AHP model is to prioritize work packages with respect to relative importance of project time, project output quality and project cost. Broken down structure of these work packages are used as input for weighted criteria for TOPSIS method. In second layer of this decision method, TOPSIS model is used for prioritizing predetermined activity risks according weighted project work packages success criteria. In the application of this method, a case study approach is followed. In this sense, “Global Furniture Ltd.” which is established in Istanbul, Turkey is chosen as a case to apply newly developed model. Results showed that application of AHP-Stochastic TOPSIS Hybrid Algorithm provides a platform that project risks could be analyzed as quantitative and also at project activity level.en_US
dc.identifier.doi10.28991/esj-2020-01239en_US
dc.identifier.endpage410en_US
dc.identifier.issue5en_US
dc.identifier.scopus2-s2.0-85092029641en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.startpage390en_US
dc.identifier.urihttps://hdl.handle.net/11467/3479
dc.identifier.urihttps://doi.org/10.28991/esj-2020-01239
dc.identifier.volume4en_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherItal Publicationen_US
dc.relation.ispartofEmerging Science Journalen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectRisk Assessmenten_US
dc.subjectTOPSISen_US
dc.subjectProject Risken_US
dc.subjectMCDMen_US
dc.subjectRisk Assessment Methoden_US
dc.titleA Novel Project Risk Assessment Method Development via AHP-TOPSIS Hybrid Algorithmen_US
dc.typeArticleen_US

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