A hybrid approach to IT project selection

Part of : WSEAS transactions on business and economics ; Vol.5, No.6, 2008, pages 361-371

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Pages:
361-371
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Abstract:
Numerous enterprises anticipate that Information Technology (IT) may enhance their competitiveadvantage and profitability, and provide them with a competitive edge in meeting the challenges from globalcompetition. However, there is a critical issue of how to invest in IT judiciously and improve theperformance of organizations successfully. Although several methods have been proposed for selectingappropriate IT projects, their models use few criteria and lack sufficient information for evaluation. Indeed,to ensure the alignment of IT investment and strategic needs in the real world, it is necessary to consider avariety of financial and non-financial factors within the evaluation structure. In order to devise a more usefulway to solve IT project selection problems, this paper combines the decision making trial and evaluationlaboratory (DEMATEL) with the analytic network process (ANP) and the zero-one goal programming(ZOGP) to propose an effective solution that considers both financial and non-financial factors. Additionally,an empirical study is presented to illustrate the application of the proposed solution.
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Keywords:
information technology, project selection, DEMATEL, ANP, ZOGP