european journal of social sciences issn: 1450-2267 - EuroJournals

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European Journal of Social Sciences – Volume 5, Number 3 (2007) methods to solve it appropriately. Unlike traditional MCDM methods are based on the independence assumption, the ANP is a relative new MCDM method which can deal with all kinds of dependences systematically. For the purpose of helping companies to evaluate and select ERM best practice successfully, I have proposed an effective method based on the ANP. Additionally, this study has contributed to extend practical applications of ANP in ERM field. ERM required to significant managerial efforts and organizational recourses. Both Fraport A.G. and TAV has to be best practice criterias to achievement best implementation of the ERM. In this paper, I have developed a framework based on ANP to identify the degree of impact of factors affecting best ERM practice. I used the ANP for decision making with dependence and feedback. ANP is a new methodology that incorporates feedback and interdependent relationships among decision attributes and alternatives. It leads to fresh insights about issues. In this study, I have determined 16 factors affecting best ERM practice. The factors affecting best ERM practice could be qualitative as well as quantitative. There are many qualitative concerns when assessing the factors critical to the ERM practice. ANP enabled us to incorporate both quantitative and qualitative factors, which are very important in selecting best operator to ERM. This research contributes to both ERM knowledge and ANP implementation. From ERM perspective I propose an ANP-based framework for selection of best operator in the airport business related with current ERM implementations. From an ANP implementation point of view it is the most comprehensive one. Based on our model I found that Fraport A.G. is best operator from the TAV Airport Holding Co. Fraport is given %68 rate about current ERM practice. Most of the existing models that investigate the factors affecting ERM implementation have used various survey methods. I have shown an alternative approach using expert judgment. The ANP approach, as a part of this methodology, not only leads to a logical result but also enables the decision-makers to visualize the impact of various criteria in the final result. Since ANP is capable of dealing with all kinds of feedback and dependence when modeling a complex decision environment, I contend that my results are more accurate. ANP deals with uncertainty and complexity and provides insights that other, more traditional methods could miss. The ANP approach is capable of taking into consideration both qualitative and quantitative criteria. 74
European Journal of Social Sciences – Volume 5, Number 3 (2007) Figure 3: The ERM best practice network model’s control hierarchy Appendix. Review of the ANP This paper will not go into details of the technical component of ANP, which can be acquired in other published ANP papers and the ANP book of Saaty. 75
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european journal of social sciences issn: 1450-2267 - EuroJournals

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