MULTI-CRITERIA ANALYSIS OF ICT IMPLEMENTATION IN INVESTMENT PROJECTS: CASE STUDY OF CONSTRUCTION COMPANIES IN THE REPUBLIC OF SERBIA
DOI:
https://doi.org/10.61837/mbuir010223057kKeywords:
information technologies, risk management, investment projects, multi-criteria analysisAbstract
Analyzing the applicability of information and communication technologies (ICT) in investment projects and the risk management context, the paper presents the concept of modelling the situation of multiple criteria and multi-objective decision-making. A brief overview and interpretation of multicriteria decision-making are given in basic business processes construction, where the ICT application is the most necessary. The significant criteria and alternatives are defined, and the simplest model of transformation of qualitative into quantitative attributes is given. With the introduction of ICT, business processes are not complete, but through their application, existing situations are constantly reviewed and analyzed. The application of multi-criteria analysis methods is one of the most useful mathematical methods for decision support so that complexity is reduced to a series of comparisons of criteria and alternatives and the synthesis of the final result. The research in this paper identifies the factors of ICT implementation in the management of construction projects to create models that can improve project performance and successfully manage business processes. This paper aims to point out that modern ICTs provide great opportunities and that a proactive approach and preventive action are more efficient and much cheaper than later repairing the damage from the effects of risk. After identifying the key attributes, the concluding remarks made recommendations for overcoming them and establishing a set of measures for the general application of ICT to improve business facilities and monitor global trends in this sector.
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