Using the AHP method, decision-makers would establish pairwise comparisons between the criteria and alternatives. Through a series of pairwise comparisons, a judgment matrix is created, and numerical weights are assigned to each criterion and alternative.
The AHP analysis would then compute the priority or relative importance of the criteria and alternatives, helping decision-makers make informed decisions about risk assessment and mitigation strategy selection. The weights derived from the AHP analysis provide a rational basis for evaluating and prioritizing the alternatives based on the identified criteria.
By applying the AHP method in this example, the information technology company can systematically assess risks, evaluate mitigation strategies, and select the most appropriate course of action based on their priority and relative importance in addressing the identified risks.
Risk Assessment and Mitigation Strategy Selection in an Information Technology Company
2. Determining the model, criteria and alternative
In this step, the model, criteria and alernatives are determined:
Number of Criteria: 5
Number of subcriteria : 3
Number of Alternatives: 5
Job Placement Rate
Cost of Attendance
Early Warning Signs
Reporting and Alert Systems
Stanford University Computer Science Program
Massachusetts Institute of Technology (MIT) Computer Science Program
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3. Pairwise comparison table
After determining the criteria and alternatives, the Pairwise comparison table matrix is formed. In the paired comparison table, the parameters (criteria or alternatives) are compared in pairs .The table below shows the pairwise comparison tables.
4. Run software:
The data is placed in the software and the software is executed. The following video shows the implementation of the software:
5. Get Result
In this step, you can see the result of the report. The report is presented in three types of formats: online report, Excel and Word. You can view or download three types of formats below.
You can also run your project in AHP online software: