Enterprise risk evaluation and continuous mitigation using the fuzzy-multiattribute decision making-A conceptual approach

Abstract

Software development processes generally follow easily identifiable stages and become increasingly more challenging. They differ from traditional manufacturing project stages in various ways, which make them very risky and uncertain. Traditional software risk management practices are more focused on qualitative judgment and experiences; however, with exponential growth in number and size, software companies require effective scientific methodology for risk management. The main objective of this study is to increase the effectiveness of risk detection and mitigation practices in the software development process. Another objective is to analyze these practices, identify the areas for improvement, and develop a mechanism for their quantification. We also aim to identify the processes, which cause problems and suggest strategy to eliminate or reduce the harmful effect of these processes in minimum possible cost and time. Analytical hierarchy process and fuzzy set theory are suggested as effective tools to achieve this objective.