Proposing Risk Responses for Iraqi Petroleum Sector Using Analytic Network Process

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The analytic network approach (ANP) is one of the most advanced and complex multi-criteria decision-making methods available. This method can be used to simulate dependencies and feedback between network elements. As a result, the ANP is one of the best approaches for making decisions in sectors where there are established dependencies between higher-level items and lower-level elements. On the other side, risk management plays an important role in the success of any project. Nevertheless, risks will always happen. This paper will seek the best solution to eliminate or minimize risks in the Iraqi patrolmen sector, especially at the Iraq oil exploration company as it has been taken as a case study. Three types of risk solutions were tested and optimized and those solutions are the avoid, the mitigate, and the transfer the risks. The ANP mothed was used to determine the priority or the effectiveness of each type of solution to find the best alternative option for each risk factor. The result shows that the best way to deal with oil and gas risks in the Iraq petroleum sector is to avoid these risks. Because the solutions belonging to this group have an effective value of 65.4%. The other two groups of mitigation and transfer have less effectiveness of 19.8% and 14.8% respectively. Moreover, the local and global priorities of the most important risk factor are also determined to validate and optimized the result. Finally, a list of alternative solutions recommended by the experts has been illustrated. Keywords Analytical network process Alternative Solutions Geometric mean Avoid Mitigation Transfer

http:-https://www.researchgate.net/publication/365503630_Proposing_Risk_Responses_for_Iraqi_Petroleum_Sector_Using_Analytic_Network_Process

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noor abdulsattar abdul jabbar
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