Designing the Process Model of Robust Strategy under Uncertainty

Abstract

The purpose of this article is to develop a process model of robust strategy by using Interpretive Structural Modeling. Robust strategies are capable of performing well in a variety of possible future environments. This process model is combination of 9 other techniques. The techniques are Robust Decision making (RDM), Stakeholder Analysis (SA),Assumption Based Planning (ABP), Failure Mode and Effect Analysis (FMEA), Fault Tree Analysis (FTA), Potential Problem analysis (PPA), Solution Effect analysis (SEA), Change Impact Analysis, Uncertainty Sensitive Analysis (USP), and Scenario based planning (SBP). Critical comparative review of techniques demonstrated thatthese techniques are not complete, but provide a good starting point. In this article, these techniques were combined together in a systematic manner by using Interpretive Structural Modeling. The resultant prescriptive process model of robust strategy has 15 sub-processes. The sequence of sub-processes was specified and also the input, output, and feedback of each of them were obtained.

Keywords

• robust strategy
• robustness
• uncertainty
• robust decision making
• interpretive structural modeling