2023 Volume 8 Issue 1 Supplementary
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PROJECTS RANKING MODEL USING FAHP TECHNIQUE AND RESOURCE ALLOCATION WITH SYSTEM DYNAMICS (SD) APPROACH


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Abstract

Project ranking is one of the most important issues to fulfil project management objectives. The project ranking plays a vital role for completion of any project. The aim of this paper is to ranking project with 8 main criteria in pmbok 2021(MCDM), mathematically by using a multi-criteria method in order to assist project managers in decision-making. The fuzzy Analytic Hierarchy Process (FAHP) is selected with the use of trapezoidal fuzzy numbers for pairwise comparison scales in prioritizing projects in managing projects. Utilizing the fuzzy FAHP technique can facilitate uncertainty in doing evaluation. In this study, demonstrates how uncertainty in making evaluation of multiple criteria can be solved by using fuzzy method AHP [6, 12]. In other words, prioritizing projects is the basis for their successful execution, and it is a strategy that allows us to align our projects with the strategic objectives of our organization. Weak prioritization leads to project failures and ultimately results in the loss of business goals. Prioritizing projects enables us to not only deliver projects more successfully but also, by combining it with a System Dynamics approach, allocate time, cost, and resources in the best possible way[4, 15,18]. This helps in controlling deviations from the accumulation of irreparable consequences, preventing the accumulation of problems resulting from errors and deviations at the end of the project. It allows us to align project execution with the organization's strategy and objectives. Additionally, we manage resource allocation considering the constraints governing the project environment.


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