A multi-criteria framework for enhancing decision-making in the risk management strategies of a global IT project
In the dynamic landscape of global Information Technology (IT) projects, effective risk management is paramount for ensuring project success and mitigating potential disruptions. As organizations increasingly rely on IT to drive their business initiatives, the complexity and interconnectedness of...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
THOT Publishing House
2024-11-01
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| Series: | Journal of Research and Innovation for Sustainable Society |
| Subjects: | |
| Online Access: | https://jriss.4ader.ro/wp-content/uploads/2024/11/7.-Nicoleta-Madalina-Stan-Constantin-Dorin-Olteanu-Aurel-Mihail-Titu-A-multi-criteria-framework-for-enhancing-decision-making-in-the-risk-management-strategies-of-a-global-IT-project%E2%80%8B.pdf |
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| Summary: | In the dynamic landscape of global Information Technology (IT) projects, effective
risk management is paramount for ensuring project success and mitigating potential disruptions.
As organizations increasingly rely on IT to drive their business initiatives, the complexity and
interconnectedness of global IT projects demand a systematic approach to risk management. The
proposed framework integrates various criteria, including but not limited to financial impact,
technological complexity, regulatory compliance, and geopolitical factors. By considering these
diverse aspects, the framework provides a holistic view of potential risks, allowing project
managers and stakeholders to make informed decisions. The integration of multiple criteria
ensures that the framework captures the intricacies of global IT projects, addressing both tangible
and intangible aspects of risk. The framework also leverages sophisticated analytics and
modeling methods to evaluate the likelihood and consequences of identified risks. This allows
project teams to rank risks by their potential impact, facilitating resource allocation and the
creation of specific mitigation plans. Its dynamic nature ensures it can adapt to changing project
environments, allowing for real-time updates to risk management strategies as new data emerges.
Case studies and simulations showcase the framework’s effectiveness in enhancing decisionmaking processes for global IT projects. The outcomes highlight the framework's ability to
enhance risk visibility, optimize resource allocation, and ultimately contribute to the successful
delivery of IT projects on a global scale. The integration of this framework into existing project
management practices empowers organizations to proactively manage risks and navigate the
intricate challenges associated with large-scale, global IT initiatives |
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| ISSN: | 2668-0416 |