2019
DOI: 10.1108/mbe-05-2018-0028
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Modelling of risk factors for defence aircraft industry using interpretive structural modelling, interpretive ranking process and system dynamics

Abstract: Purpose Risk management in defence aircraft industry has considerable interest among academics and practitioners. The purpose of this paper is to develop interactions among risk factors dimensions (RFDs) and inspect the importance relationship among the performance measures in Indian aircraft industry and, finally, understand the effect of involvements provided by the managerial team on risk reduction process. Design/methodology/approach An extensive literature review was carried out to identify 26 risk para… Show more

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Cited by 17 publications
(9 citation statements)
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“…Commonly used methods for categorization of factors are Analytic Network Process (ANP) (Lee et al 2013 ), Interpretive Structural Modelling (ISM) (Al-Muftah et al 2018 ; Nagpal et al 2017 ; Pitchaimuthu et al 2019 ), and Interpolative Boolean Algebra (IBA) (Mandic and Delibasic 2014 ). The DEMATEL method not only converts the interdependency relationships into a cause and effect group via matrixes but also finds the critical factors of a complex structure system with the help of an impact relation diagram (Si et al 2018 ).…”
Section: Methodsmentioning
confidence: 99%
See 1 more Smart Citation
“…Commonly used methods for categorization of factors are Analytic Network Process (ANP) (Lee et al 2013 ), Interpretive Structural Modelling (ISM) (Al-Muftah et al 2018 ; Nagpal et al 2017 ; Pitchaimuthu et al 2019 ), and Interpolative Boolean Algebra (IBA) (Mandic and Delibasic 2014 ). The DEMATEL method not only converts the interdependency relationships into a cause and effect group via matrixes but also finds the critical factors of a complex structure system with the help of an impact relation diagram (Si et al 2018 ).…”
Section: Methodsmentioning
confidence: 99%
“…However, BWM is chosen for this study as it requires less comparison data and provides a more consistent result (Rezaei 2015), which not only reduces the number of pairwise comparisons and inconsistency in such a task (Labella et al 2021) but it also performs better than other multi-attribute decision-making models (Bai 2018. ) Commonly used methods for categorization of factors are Analytic Network Process (ANP) (Lee et al 2013), Interpretive Structural Modelling (ISM) (Al-Muftah et al 2018;Nagpal et al 2017;Pitchaimuthu et al 2019), and Interpolative Boolean Algebra (IBA) (Mandic and Delibasic 2014). The DEMATEL method not only converts the interdependency relationships into a cause and effect group via matrixes but also finds the critical factors of a complex structure system with the help of an impact relation diagram (Si et al 2018).…”
Section: Methodsmentioning
confidence: 99%
“…ISM is capable to convert mental models of complex issue into a clearly well-defined hierarchical model. ISM technique has been used in many fields including manufacturing [32], environment [33], education [34], aircraft industry and engineering [35], and policy [30].…”
Section: Methodsmentioning
confidence: 99%
“…Gradually, due to the advantage of considering the impact of different elements (subsystems) on system security, the theory has been applied to risk safety management research (Maryani et al 2015;Pitchaimuthu et al 2019). At the same time, it can also achieve dynamic and quantitative prediction, making up for the shortcomings of linear qualitative, static and chain evaluation methods.…”
Section: Quantitative Modeling Tools In System Dynamicsmentioning
confidence: 99%