Risk-based project assessment in multi-project organizations

Purpose: This study aims to investigate the identification and evaluation of potential risks affecting projects and select projects based on the level of risk in the projectbased organizations.Design/methodology/approach: After organizing a decisionmaking team and identification of potential risks influencing projects, the risks have been weighted by the VIKOR method. Then, potential risks in projects have been received by project managers and the final risks of each project have been estimated.Findings: Findings indicate that the application of this method may invoke as a useful management tool for selecting projects with acceptable risk in a multiproject organization.Research limitations/implications: The findings are limited to the current projects of the focused company. Also, the results are limited to the potential risks identified and the evaluations related to comments and the VIKOR approach for the considered time interval.Practical implications: One of the most important management challenges in projectbased organizations is the selection of projects with acceptable risk of implementation. Risk Analysis in portfolio management is a strategy that helps managers in selecting, supporting, and managing a set of projects.Originality/value: The focus of Previous studies was mostly on risk identification and prioritization in specific projects. In contrast, the developed approach in this paper can be used as a fast and reliable method for selecting projects in a multiproject organization based on risk management.