IT Project Risk Assessment Based on Improved Grey Relational

This paper aimed to establish a method of risk assessment based on grey decision making. Based on the characteristics of IT projects´ risk, the paper defined five main factors that influence the success rate of IT projects and mixed the total risk to a matrix. By applying the grey relational analysis to measure the matrix´s grey relational grade, in terms of which we can establish the evaluation guideline of tasks assignment for risk assessment. Finally, a case study on interpretation for this method application was put forward in this paper. Research result shows that this method can provide valuable information to identify which is the most important factor in project build.