scholarly journals Banking activity. Management by risk assessment and measurement

2009 ◽  
Author(s):  
Vasile Gotcu
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Financial Markets ◽  
New Products ◽  
Financial Flows ◽  
New Approach ◽  
Banking Activity ◽  
Activity Management ◽  
The Stability

Rapid innovations in financial markets and the internationalization of the financial flows have created opportunities for developing some new products and supplying a wider product and service range to the banks. Liberalization of the financial markets , the severe competition and the diversification of the offered products expose banks to new risks and provocations. This new approach confirms the fact that the banking management generally and the risk management especially represents essential concern for the security and the stability both of each bank and the entire banking<br />system.

Fuzzy Rules for Risk Assessment and Contingency Estimation within COCOMO Software Project Planning Model

2014 ◽  
pp. 88-111 ◽  
Author(s):  
Ekananta Manalif ◽  
Luiz Fernando Capretz ◽  
Danny Ho
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Project Planning ◽  
Project Managers ◽  
Research Data ◽  
Software Project ◽  
Planning Model ◽  
Effort Estimation ◽  
New Approach ◽  
Project Risks

Software development can be considered to be the most uncertain project when compared to other projects due to uncertainty in the customer requirements, the complexity of the process, and the intangible nature of the product. In order to increase the chance of success in managing a software project, the project manager(s) must invest more time and effort in the project planning phase, which involves such primary and integrated activities as effort estimation and risk management, because the accuracy of the effort estimation is highly dependent on the size and number of project risks in a particular software project. However, as is common practice, these two activities are often disconnected from each other and project managers have come to consider such steps to be unreliable due to their lack of accuracy. This chapter introduces the Fuzzy-ExCOM Model, which is used for software project planning and is based on fuzzy technique. It has the capability to not only integrate the effort estimation and risk assessment activities but also to provide information about the estimated effort, the project risks, and the effort contingency allowance necessary to accommodate the identified risk. A validation of this model using the project’s research data shows that this new approach is capable of improving the existing COCOMO estimation performance.

Fuzzy Rules for Risk Assessment and Contingency Estimation Within COCOMO Software Project Planning Model

2018 ◽  
pp. 771-797
Author(s):  
Ekananta Manalif ◽  
Luiz Fernando Capretz ◽  
Danny Ho
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Project Planning ◽  
Project Managers ◽  
Research Data ◽  
Software Project ◽  
Planning Model ◽  
Effort Estimation ◽  
New Approach ◽  
Project Risks

Software development can be considered to be the most uncertain project when compared to other projects due to uncertainty in the customer requirements, the complexity of the process, and the intangible nature of the product. In order to increase the chance of success in managing a software project, the project manager(s) must invest more time and effort in the project planning phase, which involves such primary and integrated activities as effort estimation and risk management, because the accuracy of the effort estimation is highly dependent on the size and number of project risks in a particular software project. However, as is common practice, these two activities are often disconnected from each other and project managers have come to consider such steps to be unreliable due to their lack of accuracy. This chapter introduces the Fuzzy-ExCOM Model, which is used for software project planning and is based on fuzzy technique. It has the capability to not only integrate the effort estimation and risk assessment activities but also to provide information about the estimated effort, the project risks, and the effort contingency allowance necessary to accommodate the identified risk. A validation of this model using the project's research data shows that this new approach is capable of improving the existing COCOMO estimation performance.

Area Business Continuity Management, A New Approach to Sustainable Local Economy

2015 ◽  
Vol 10 (2) ◽  
pp. 204-209 ◽  
Author(s):  
H. Baba ◽  
◽  
T. Watanabe ◽  
K. Miyata ◽  
H. Matsumoto ◽  
...  
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Large Scale ◽  
Industrial Area ◽  
Disaster Risk ◽  
Business Continuity ◽  
Economic Losses ◽  
New Approach ◽  
Business Continuity Management ◽  
The World

The flooding of the Chao Phraya River in Thailand and the Great East Japan Earthquake and Tsunami, both of which occurred in 2011, reminded us of the risks of business disruption and further impacts on national, regional, and global economies through supply chains when disasters occur anywhere in the world. Considering the increasing economic losses attributable to disasters, the fourth session of the Global Platform for Disaster Risk Reduction (2013) aimed to promote resilience and foster new opportunities for public-private partnerships as part of an overall approach to improving risk governance. Furthermore, it highlighted that a growing world requires a new approach to development action, emphasizing the private sector&rquo;s role in managing disaster risks. One of the most significant private sector contributions to disaster risk management is the creation of the business continuity plan/planning (BCP) and business continuity management (BCM) systems, which were standardized as ISO22301 and disseminated in many business enterprises around the world. However, a BCP or BCM system has been neither formulated for nor implemented in most local enterprises in industry agglomerated areas, even though these are located in areas vulnerable to disasters. Moreover, in the case of large-scale disasters, a business enterprise’s capacity may be too limited to mitigate damages and maintain operations through its own efforts, even if BCPs are prepared. The main reason for this is the disruption of public infrastructure and services. In order to minimize the negative economic impacts or economic losses, particularly in the case of a large-scale disaster that disrupts the fundamental infrastructure in certain areas, it is important to conduct risk assessment on a proper scale and to prepare scenario-based disaster management plans for area-wide damage mitigation. In addition, it is essential to have integrated resource management and strategic recovery plans to support each enterprise&rquo;s BCM actions in coordination with public sector activities. Considering this backgrounds, the Japan International Cooperation Agency (JICA) and the ASEAN Coordination Center for Humanitarian Assistance on Disaster Management (AHA Center) launched the “Natural Disaster Risk Assessment and Area Business Continuity Plan Formulation for Industrial Agglomerated Areas in the ASEAN Region” project in February 2013. The project introduced the new concept of the Area BCP, which, based on a risk assessment of the area, designates a framework and direction for coordinated damage mitigation measures and recovery actions by stakeholders, including individual enterprises, industrial area managers, local authorities, and infrastructure administrators, to allow business continuation of the industrial area as a whole. The project also established Area BCM as a cyclic process of risk assessment, sharing risk and impact information, determining a common strategy of risk management, developing the Area BCP, implementing and monitoring the planned actions to continuously improve the Area BCM system, and coordinating among stakeholders, in order to improve the capability for effective business continuity of the area. This paper aims to evaluate the progress of the project and to explore lessons from the applied process of Area BCM and its benefits.

scholarly journals Cybersecurity Risk Assessment in Smart City Infrastructures

Machines ◽  
2021 ◽  
Vol 9 (4) ◽  
pp. 78
Author(s):  
Maxim Kalinin ◽  
Vasiliy Krundyshev ◽  
Peter Zegzhda
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Smart City ◽  
Urban Infrastructure ◽  
Quantitative Risk Assessment ◽  
Main Concern ◽  
Security Threats ◽  
New Approach ◽  
Security Indicators ◽  
Cyber Risk

The article is devoted to cybersecurity risk assessment of the dynamic device-to-device networks of a smart city. Analysis of the modern security threats at the IoT/IIoT, VANET, and WSN inter-device infrastructures demonstrates that the main concern is a set of network security threats targeted at the functional sustainability of smart urban infrastructure, the most common use case of smart networks. As a result of our study, systematization of the existing cybersecurity risk assessment methods has been provided. Expert-based risk assessment and active human participation cannot be provided for the huge, complex, and permanently changing digital environment of the smart city. The methods of scenario analysis and functional analysis are specific to industrial risk management and are hardly adaptable to solving cybersecurity tasks. The statistical risk evaluation methods force us to collect statistical data for the calculation of the security indicators for the self-organizing networks, and the accuracy of this method depends on the number of calculating iterations. In our work, we have proposed a new approach for cybersecurity risk management based on object typing, data mining, and quantitative risk assessment for the smart city infrastructure. The experimental study has shown us that the artificial neural network allows us to automatically, unambiguously, and reasonably assess the cyber risk for various object types in the dynamic digital infrastructures of the smart city.

Risk assessment of R&D projects: a new approach based on IVIF AHP and fuzzy axiomatic design

2021 ◽  
pp. 1-10
Author(s):  
Esra Ilbahar ◽  
Selcuk Cebi ◽  
Cengiz Kahraman
Keyword(s):  
Risk Factors ◽  
Risk Assessment ◽  
Risk Management ◽  
Fuzzy Ahp ◽  
Fuzzy Information ◽  
New Approach ◽  
Intuitionistic Fuzzy ◽  
Information Axiom ◽  
Negative Impacts ◽  
Interval Valued

Both national and international encouragements for research and development (R&D) projects have been growing worldwide. Since R&D projects includes various uncertainties related to time, technology, finance, and knowledge, risk management studies are highly significant for the success of these projects. In risk management, all of the potential actions that might have negative impacts on the processes or outputs of a project should be determined, and if it is possible, their negative impacts should be reduced before the project starts. In this study, after risks in R&D projects are determined, the alternative projects are prioritized with respect to these risks by using an approach based on interval-valued intuitionistic fuzzy AHP and fuzzy information axiom. Interval-valued intuitionistic fuzzy AHP is used to determine the importance degrees of the determined risk factors while fuzzy information axiom is used to evaluate R&D projects considering these risk factors. It is revealed that the most important risk is “Abnormal changes in cost” while the least important one is “Deficiencies in contract articles”.

scholarly journals Global Derivatives Market

SEEU Review ◽  
2017 ◽  
Vol 12 (1) ◽  
pp. 81-93
Author(s):  
Aleksandra Stankovska
Keyword(s):  
Risk Management ◽  
Financial Markets ◽  
Price Discovery ◽  
Financial Derivatives ◽  
Underlying Asset ◽  
Economic Role ◽  
Derivative Instruments ◽  
The Stability ◽  
Financial Transactions

Abstract Globalization of financial markets led to the enormous growth of volume and diversification of financial transactions. Financial derivatives were the basic elements of this growth. Derivatives play a useful and important role in hedging and risk management, but they also pose several dangers to the stability of financial markets and thereby the overall economy. Derivatives are used to hedge and speculate the risk associated with commerce and finance. When used to hedge risks, derivative instruments transfer the risks from the hedgers, who are unwilling to bear the risks, to parties better able or more willing to bear them. In this regard, derivatives help allocate risks efficiently between different individuals and groups in the economy. Investors can also use derivatives to speculate and to engage in arbitrage activity. Speculators are traders who want to take a position in the market; they are betting that the price of the underlying asset or commodity will move in a particular direction over the life of the contract. In addition to risk management, derivatives play a very useful economic role in price discovery and arbitrage. Financial derivatives trading are based on leverage techniques, earning enormous profits with small amount of money.

Empirical Research on the Contagion Effect of Financial Crisis

2013 ◽  
Vol 740 ◽  
pp. 364-367
Author(s):  
Yi Xian Chai ◽  
Dan Liu ◽  
Zhi Bo Zhang ◽  
Yan Li Xu
Keyword(s):  
Financial Crisis ◽  
Financial Markets ◽  
International Economic Order ◽  
Economic Security ◽  
Conditional Heteroskedasticity ◽  
Contagion Effect ◽  
New Approach ◽  
International Financial Crisis ◽  
Economic Markets ◽  
The Stability

The international financial crisis has caused broad impact and serious consequences to international economic order and the economic development of every country. Therefore, making modeling research on the effect of crisis contagion between some economic markets in order to take timely measures to prevent the further spread of contagion is of great significance for maintaining a countrys economic security, and the stability of global economic and financial system. To prevent economy from being destroyed by financial crisis contagion, this paper puts forward a new testing approach on the contagion effect of financial crisis. This approach is to test the contagion effect of financial crisis by examining whether the conditional variances of different countries financial markets in crisis period are correlated through Generalized Autoregressive Conditional Heteroskedasticity model. Empirical study shows that, this new approach is effective and practical in testing the contagion effect of financial crisis.

scholarly journals Niezawodność techniczna inspiracją dla zarządzania ryzykiem operacyjnym i publicznego zarządzania kryzysowego

2020 ◽  
pp. 33-46
Author(s):  
Janusz Zawiła-Niedźwiecki ◽  
Anna Kosieradzka ◽  
Grzegorz Kunikowski ◽  
Katarzyna Rostek
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Crisis Management ◽  
Critical Infrastructure ◽  
Operational Risk ◽  
New Approach ◽  
Operational Risk Management ◽  
Public Crisis ◽  
Public Crisis Management ◽  
Technical Reliability

Teoria niezawodności to ważna inspiracja nauk społecznych w zarządzaniu ryzykiem operacyjnym oraz publicznym zarządzaniu kryzysowym. Artykuł podaje nowe podejście do publicznego zarządzania kryzysowego, zastosowane w krajowych metodykach: oceny ryzyka w ochronie infrastruktury krytycznej państwa oraz planowania cywilnego i ratownictwa. Technical reliability as an inspiration for operational risk management and public crisis management The theory of reliability is an important inspiration of social science in operational risk management and public crisis management. The article provides a new approach to public crisis management, used in national methodologies: risk assessment in the protection of critical infrastructure of the state as well as civil and rescue planning.

scholarly journals UTICAJ DISRUPCIJA U LANCU SNABDEVANJA UNUTAR INDUSTRIJE FLEKSIBILNE AMBALAŽE UZROKOVANIH PANDEMIJOM VIRUSA COVID-19

2021 ◽  
pp. 73-89
Author(s):  
Dorijan Naletina
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Supply Chains ◽  
New Approach ◽  
Flexible Packaging ◽  
Packaging Industry ◽  
Business Resilience ◽  
New Challenges ◽  
The Stability ◽  
The Impact

In the packaging industry, disruptions occurring in the supply chain can impact all the segments and have huge consequences on the operations conducted by the distributors. We are witnesses of an unprecedented crisis caused by the COVID-19 pandemic. It has influenced all layers of the society and forced us to make changes and adjustments to our every-day routine, regulations, economy. Disruptions can undermine the stability of the supply chain, causing business losses. Therefore, identifying the impact of different disruptions on the supply chain is crucial. Here, a timely and quick reaction is of great importance. The current pandemic has caused many disruptions in the industry and has impacted all parts of the supply chains in ways that have not been yet recorded, therefore making it even harder for the companies to respond to new challenges. The changes have not skipped the packaging industry, forcing the manufacturers to rethink their strategies and the consumers to change their views of a safe and reliable product. With the economic expansion, the demand for flexible packaging and has been growing. There are many advantages to flexible packaging. Besides the fact that it creates less environmental impact, it also requires fewer resources compared to traditional packaging production. Disruptions in the supply chains of the flexible packaging industry are one of the major economic concerns during the COVID-19 pandemic, and therefore the topic of this paper. Since the companies in the industry are in desperate need for a new approach regarding risk management and building business resilience, some strategies for overcoming the challenges of the crisis on the flexible packaging market have been presented here.

Host-Guest Interactions on Electrode Surfaces for Immobilization of Molecular Catalysts

2020 ◽  
Author(s):  
Laurent Sévery ◽  
Jacek Szczerbiński ◽  
Mert Taskin ◽  
Isik Tuncay ◽  
Fernanda Brandalise Nunes ◽  
...  
Keyword(s):  
Aqueous Media ◽  
Heterogeneous Systems ◽  
Catalytic Systems ◽  
New Approach ◽  
Molecular Systems ◽  
Electrode Surfaces ◽  
Catalytic Surfaces ◽  
Oxide Electrodes ◽  
The Stability ◽  
Molecular Catalysts

The strategy of anchoring molecular catalysts on electrode surfaces combines the high selectivity and activity of molecular systems with the practicality of heterogeneous systems. The stability of molecular catalysts is, however, far less than that of traditional heterogeneous electrocatalysts, and therefore a method to easily replace anchored molecular catalysts that have degraded could make such electrosynthetic systems more attractive. Here, we apply a non-covalent “click” chemistry approach to reversibly bind molecular electrocatalysts to electrode surfaces via host-guest complexation with surface-anchored cyclodextrins. The host-guest interaction is remarkably strong and allows the flow of electrons between the electrode and the guest catalyst. Electrosynthesis in both organic and aqueous media was demonstrated on metal oxide electrodes, with stability on the order of hours. The catalytic surfaces can be recycled by controlled release of the guest from the host cavities and readsorption of fresh guest. This strategy represents a new approach to practical molecular-based catalytic systems.

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