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The Evaluation Of Information Technology Projects: A Fuzzy Multicriteria Decision-Making Approach

Author

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  • NIKOLAOS S. THOMAIDIS

    (Decision & Management Engineering Lab, Department of Financial Engineering & Management, School of Business Studies, University of the Aegean, 31 Fostini Str., GR 82100 Chios, Greece)

  • NIKITAS NIKITAKOS

    (Department of Shipping Trade & Transport, School of Business Studies, University of the Aegean, 8A Korai Str., GR, 82100, Chios, Greece)

  • GEORGIOS D. DOUNIAS

    (Decision & Management Engineering Lab, Department of Financial Engineering & Management, School of Business Studies, University of the Aegean, 31 Fostini Str., GR 82100, Chios, Greece)

Abstract

This paper presents a fuzzy set-based approach to the evaluation of information technology (IT) projects. We assume a multi-criteria decision-making framework, where sets of general and domain-specific criteria are used to judge the relative performance of alternative technologies. The methodology was originally developed forDIAS.net, an EU project aiming at the development of the Information Society in insular and isolated regions of Europe. In this paper, we present many aspects of our evaluation framework, including the synthesis of evaluation teams, the assessment of the importance of criteria, the evaluation of the performance of the alternatives and the final ranking and selection of projects. The methodology presented has the innovative feature of embodying techniques offuzzy sets theoryinto the classical multi-criteria decision analysis. This combination enables us to handle efficiently the subjectiveness that often characterizes expert judgements on a decision problem. Fuzzy linguistic terms, such as "poor," "fair," "very important," etc. are proposed for assessing the relative merit of alternatives and criteria. The paper concludes by exploring the potentiality of the above methodology in providing a flexible and robust IT evaluation framework.

Suggested Citation

  • Nikolaos S. Thomaidis & Nikitas Nikitakos & Georgios D. Dounias, 2006. "The Evaluation Of Information Technology Projects: A Fuzzy Multicriteria Decision-Making Approach," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 5(01), pages 89-122.
    • Handle: RePEc:wsi:ijitdm:v:05:y:2006:i:01:n:s0219622006001897
    DOI: 10.1142/S0219622006001897
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    Cited by:

    1. Alessio Ishizaka, 2014. "Comparison of fuzzy logic, AHP, FAHP and hybrid fuzzy AHP for new supplier selection and its performance analysis," International Journal of Integrated Supply Management, Inderscience Enterprises Ltd, vol. 9(1/2), pages 1-22.
    2. Dayo-Olupona, Oluwatobi & Genc, Bekir & Onifade, Moshood, 2020. "Technology adoption in mining: A multi-criteria method to select emerging technology in surface mines," Resources Policy, Elsevier, vol. 69(C).
    3. Jarosław Wątróbski & Ewa Ziemba & Artur Karczmarczyk & Jarosław Jankowski, 2018. "An Index to Measure the Sustainable Information Society: The Polish Households Case," Sustainability, MDPI, vol. 10(9), pages 1-30, September.
    4. Syamsiah Mokhtar & Ruhizan Muhamad Yasin, 2018. "Design of Teaching Influences the Training Transfer Amongst TVET’s Instructors: Fuzzy Delphi Technique," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 8(6), pages 1083-1097, June.

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