IT/IS project selection: A grey multi-criteria decision model approach

IT/IS (information technology/information system)represents a substantial financial investment for many enterprises. Then, to select a suitable IT/IS becomes important and difficult. How can a new IT/IS project be selected in an easy, cost-effective, and collective manner? We need a tool that will help decision-makers select potential new IT/IS projects. Generally, IT/IS project selection is a multi-criteria decision-making (MCDM) problem. Hence, we propose a new method based on the grey MCDM. Grey theory is one of the methods used to study uncertainty, being superior in the mathematical analysis of systems with uncertain information. Then, the paper aims to extend the TOPSIS with grey theory. We conduct a case study to show how this method can be used and discuss the results.