Recent studies show that more than three quarters of enterprise resource planning (ERP) projects were judged as unsuccessful by the implementing firms. ERP implementation projects are fraught with risk. Because of its nature, risk includes imprecise and vague data. The aim of this paper is to identify the risk factors and evaluate the failure risk of a SAP/R3 implementation project. Fuzzy extended analytic hierarchy process (FEAHP) which is an efficient multi-criteria decision making tool to handle the imprecise and vague data is proposed. Triangular fuzzy numbers are used by the experts to construct fuzzy pair wise comparison matrices.