Assessing IT Projects Success with Extended Fuzzy Cognitive Maps & Neutrosophic Cognitive Maps in comparison to Fuzzy Cognitive Maps

Abstract

IT projects hold a huge importance to economic growth. Today, half of the capital investments are in IT technology. IT systems and projects are extensive and time consuming; thus implying that its failure is not affordable, so proper feasibility study of assessing project success factors is required. A current methodology like Fuzzy Cognitive Maps has been experimented for identifying and evaluating the success factors in IT projects, but this technique has certain limitations. This paper discusses two new approaches to evaluate IT project success: Extended Fuzzy Cognitive Maps (E-FCM) & Neutrosophic Cognitive Maps (NCM).The limitations of FCM like non consideration for non-linear, conditional, time delay weights and indeterminate relations are targeted using E-FCM and NCM in this paper.