Designing a Hybrid Model of Criteria for Selecting Information Technology Projects in Achieving Business Objectives in the Banking Industry
Keywords:
Business goals, information technology projects, banking industry, Fuzzy DEMATELAbstract
One of the current challenges for managers in the banking industry is aligning decision-making criteria for selecting information technology (IT) projects with business objectives. The present study was conducted with the aim of designing a hybrid model of IT project selection criteria in achieving business objectives of the banking industry through both qualitative and quantitative approaches. In the qualitative part, the criteria along with indicators were identified using a content analysis approach through semi-structured interviews, and the content validity of the indicators was assessed. The statistical population of the qualitative part included senior managers and experts in the banking industry, among whom 12 individuals were selected through purposive, theoretical, and convenience non-probability sampling. The statistical population of the quantitative part consisted of 180 experts knowledgeable about the research subject, selected through random sampling. To develop the model, the fuzzy DEMATEL method was applied, and the findings indicated that the criteria of “alignment with business objectives,” “competitiveness,” “economic advantage,” “risk management,” “efficient operations,” and “superior service delivery” were respectively influential in the selection of IT projects in the banking industry. Subsequently, the relationships generated were tested using structural equation modeling. The findings of this part revealed that all model relationships were confirmed, except for the correlation between “alignment with business objectives” with “efficient operations” and “superior service delivery,” as well as the correlation between “competitiveness” and “risk management” with “superior service delivery.” These findings suggest that IT projects need to be selected in line with business objectives and with a focus on providing up-to-date services.
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