Risk assessment in ERP projects using an integrated method

Enterprise resource planning (ERP) projects are very complex tasks, expensive, time-consuming, and risky investments. One of the main reasons for the high ERP project failure rate is that managers don´t assess and manage the risks involved in these projects. In addition, they don´t know the importance degree for each of these risks. On the other hand, to the best of our knowledge papers proposing specific Risk Management approaches, methodologies and techniques for ERP projects are very limited. Therefore, the aim of this paper is to present a new framework for risk analyze in ERP projects. At first we introduce the main risks retrieved from literature review, affecting the performance of ERP projects. Then, we propose a new integrated framework for evaluating potential risks using Fuzzy Failure Mode and Effect Analysis (FFMEA) and Grey Relational Analysis (GRA) tools. The results indicate which risks are most important and critical in ERP projects. This framework can guide managers during risk quantification and mitigation in order to manage ERP projects better and within the systematic framework.