Author(s)

Safiye Turgay ¹, Ezgi Gül Dinçer ^1,2, Sude Kazancı ^1,2

Affiliation(s)

¹ Department of Industrial Engineering, Sakarya University, Sakarya, Turkey
² Alpplas Endüstriyel Yatırımlar A.Ş., Mermerciler Sanayi Sitesi 4.Cad. No.16 Beylikdüzü, İstanbul, 34524, Turkey

Corresponding Author

Safiye Turgay

ABSTRACT

In the realm of Research and Development (R&D) projects, uncertainty and risk management are paramount for successful outcomes. This abstract introduces a comprehensive framework for strategic risk mitigation in R&D projects. It leverages the Multiple Criteria Decision-Making (MCDM) methodology and the innovative Gravity Search Algorithm (GSA) to effectively navigate uncertainty. This framework combines the principles of MCDM with the power of the GSA to create a robust approach to risk management. It encompasses the identification, assessment, and mitigation of risks in R&D projects, enabling organizations to make informed decisions and allocate resources wisely. The framework is designed to address a wide array of uncertainties that are inherent in R&D projects, including technical, financial, and market-related risks. By applying the GSA based MCDM, organizations can optimize their risk mitigation strategies, enhance project success rates, and ultimately accelerate innovation.

KEYWORDS

Risk factors, R&D Projects, MCDM, Gravity Search Algorithm

CITE THIS PAPER

Safiye Turgay, Ezgi Gül Dinçer, Sude Kazancı, Navigating Uncertainty: A Comprehensive Approach to Risk Management in R&D Projects with the Gravity Search Algorithm Based MCDM. Industrial Engineering and Innovation Management (2023) Vol. 6: 95-103. DOI: http://dx.doi.org/10.23977/ieim.2023.061013.

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