Formative evaluation of analytic hierarchy process as a risk prioritisation tool for risk management

The aim of this study is to discover strengths and limitations of Analytic Hierarchy Process (AHP) as a risk prioritisation tool for risk management. The study developed a risk management problem and used AHP to organise and structure risks and sub-risks of the problem. It used formative evaluation...

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Main Author:	Rabihah Md. Sum
Format:	Article
Language:	English
Published:	Pusat Pengajian Sains Matematik, Fakulti Sains dan Teknologi, Universiti Kebangsaan Malaysia 2016
Online Access:	http://journalarticle.ukm.my/10209/ http://journalarticle.ukm.my/10209/ http://journalarticle.ukm.my/10209/1/jqma-12-1_2-paper11.pdf

id	ukm-10209
recordtype	eprints
spelling	ukm-102092017-03-15T07:29:42Z http://journalarticle.ukm.my/10209/ Formative evaluation of analytic hierarchy process as a risk prioritisation tool for risk management Rabihah Md. Sum, The aim of this study is to discover strengths and limitations of Analytic Hierarchy Process (AHP) as a risk prioritisation tool for risk management. The study developed a risk management problem and used AHP to organise and structure risks and sub-risks of the problem. It used formative evaluation method with open-ended questionnaires to obtain feedbacks from risk managers on AHP. The study documented the following strengths of AHP: it is easy to use and understand, improves understanding of a problem and improve risk assessment. AHP improves risk assessment in the following ways: it provides a systematic risk assessment process, a clear and transparent risk assessment, facilitates debate and discussion of the risk ranking, and assists risk managers to make explicit trade-off between the risks and sub-risks. AHP is useful for problems with intangible elements, scarce data or requiring subjective judgements. AHP limitations are: too many pairwise comparisons decreasing risk managers concentration and the repetitiveness of the pairwise comparisons resulting in decision fatigue. The consequence, risk managers did not answer all questions or just answer the questions randomly. Pusat Pengajian Sains Matematik, Fakulti Sains dan Teknologi, Universiti Kebangsaan Malaysia 2016-12 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/10209/1/jqma-12-1_2-paper11.pdf Rabihah Md. Sum, (2016) Formative evaluation of analytic hierarchy process as a risk prioritisation tool for risk management. Journal of Quality Measurement and Analysis, 12 (1-2). pp. 115-123. ISSN 1823-5670 http://www.ukm.my/jqma/jqma12_1_2a.html
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Kebangasaan Malaysia
building	UKM Institutional Repository
collection	Online Access
language	English
description	The aim of this study is to discover strengths and limitations of Analytic Hierarchy Process (AHP) as a risk prioritisation tool for risk management. The study developed a risk management problem and used AHP to organise and structure risks and sub-risks of the problem. It used formative evaluation method with open-ended questionnaires to obtain feedbacks from risk managers on AHP. The study documented the following strengths of AHP: it is easy to use and understand, improves understanding of a problem and improve risk assessment. AHP improves risk assessment in the following ways: it provides a systematic risk assessment process, a clear and transparent risk assessment, facilitates debate and discussion of the risk ranking, and assists risk managers to make explicit trade-off between the risks and sub-risks. AHP is useful for problems with intangible elements, scarce data or requiring subjective judgements. AHP limitations are: too many pairwise comparisons decreasing risk managers concentration and the repetitiveness of the pairwise comparisons resulting in decision fatigue. The consequence, risk managers did not answer all questions or just answer the questions randomly.
format	Article
author	Rabihah Md. Sum,
spellingShingle	Rabihah Md. Sum, Formative evaluation of analytic hierarchy process as a risk prioritisation tool for risk management
author_facet	Rabihah Md. Sum,
author_sort	Rabihah Md. Sum,
title	Formative evaluation of analytic hierarchy process as a risk prioritisation tool for risk management
title_short	Formative evaluation of analytic hierarchy process as a risk prioritisation tool for risk management
title_full	Formative evaluation of analytic hierarchy process as a risk prioritisation tool for risk management
title_fullStr	Formative evaluation of analytic hierarchy process as a risk prioritisation tool for risk management
title_full_unstemmed	Formative evaluation of analytic hierarchy process as a risk prioritisation tool for risk management
title_sort	formative evaluation of analytic hierarchy process as a risk prioritisation tool for risk management
publisher	Pusat Pengajian Sains Matematik, Fakulti Sains dan Teknologi, Universiti Kebangsaan Malaysia
publishDate	2016
url	http://journalarticle.ukm.my/10209/ http://journalarticle.ukm.my/10209/ http://journalarticle.ukm.my/10209/1/jqma-12-1_2-paper11.pdf
first_indexed	2023-09-18T19:56:48Z
last_indexed	2023-09-18T19:56:48Z
_version_	1777406583194517504

Formative evaluation of analytic hierarchy process as a risk prioritisation tool for risk management

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