Setting up project priorities by multicriteria decision making

Marko Račeta (2009) Setting up project priorities by multicriteria decision making. EngD thesis.

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Abstract

The purpose of this Thesis is to show the way of defining priorities to the projects with the use of multiparametric resolving. The procedure of project priorities defining cannot take place without any previous preparation, which among others includes good knowledge about our own information system and organization, the analysis of the current state of this information system, and a survey and the analysis of the business system architecture. For a successful performance and completing of the defining priorities procedure to projects it is necessary to carry out the analysis of risk procedure of these projects, as well as the procedure of observing the state of our own systems and IT processes, which present the basis for our further decisions about managing and controlling measures, necessary for the improvement of IT and organization in the firm. All these procedures and activities, carried out prior to the activity of project priorities defining, are very extensive, complex and time-pretentious, but at the same time very important as their results and ascertainment serve for an easier and more precise defining of important criteria of multiparametric resolving. It also makes easier to construct the hierarchic criteria tree, to define the measure scales, and to choose the decision rules which consecutive effect the final project priorities defining results. Alone the procedure of defining priorities to the projects has been used as an instrument for final decision about which project are more or less important for the achievement of the strategic as wee as business aims of the firm. Choosing projects which enable the firm to follow its strategic and business aims according to the market state can improve the competitiveness and financial stability of the firm. With the project priorities defining procedure those project which according to the firm state and its personnel potential are more likely to be correctly and most affective carried out and completed, as well as improve the firm state, will be defined as preferential.

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