A Hybrid Asset-Based IT Risk Management Framework

Information security has become one of the most important responsibilities of all organizations due to increasing cyber threats. Attackers take advantage of systems vulnerabilities; therefore, system administrators should be aware of potential threats to take necessary actions to protect their organizations and stakeholders. At this point, a risk assessment is needed to discover possible threats for vulnerable systems of the organization and to implement strategies for the business goals. This study proposes a hybrid risk management framework using both qualitative and quantitative methods to analyze risk within organizations and reduce them with practical countermeasures. Based on this framework, case studies have been carried out considering three hypothetical companies identifying possible information security risks, and these risks have been reduced to an acceptable level by applying the proposed risk analysis methodology.

A study on the application of RMF for weapon systems in Korea

With the advent of the Fourth Revolution, military weapon systems are also being advanced. In particular, as the proportion of software embedded in these weapon systems increases, the cyber vulnerabilities of advanced weapon systems also gradually increase. If cutting-edge weapons stop abruptly or malfunction owing to software defects or cyberattacks, they will adversely affect defense security as well as combat power and economic losses. The U.S. DoD is implementing the risk management framework (RMF) to cope with cyber vulnerabilities and threats. RMF is a risk management (RM)-based framework that classifies the cyber vulnerabilities of weapon systems based on data and evaluates them according to confidentiality, integrity, and availability. The application of RMF to the Korean military's weapon-system acquisition procedure is still in its infancy. In this study, we studied the application of the RMF to weapon acquisition processors in the U.S. DoD and suggested that measures of availability, reliability, and safety that can affect weapon performance should be managed with security, and that security systems should be applied to reliability, availability, and maintenance (RAM).

Risk Mitigation Strategy and Efficiency Improvement of PT Gasses Logistic Transportation using Six Sigma DMAIC Method

PT Gasses Logistic is one of the companies that operates in the downstream oil and gas industry that focuses on providing logistic services and other support. From oil, gasses, to lubricant, together with their partnership, PT Gasses Logistic are responsible of transporting those goods to their consumers across Indonesia. Also, PT Gasses Logistic is the subsidiary/child company from one of the biggest state-owned enterprises in Indonesia. The core business of PT Gasses Logistic is transportation, that is why every type of problem in transportation needed to be solved quickly. Through this research, it is identified 4 problems by using Pareto Chart. The problems are work & traffic accident, losses while loading & unloading operation, risk in damaging MESRAN MIN 40, and risk in damaging RORED EPA MIN 90. Those problems will be evaluated with risk management framework and analyse further using Six Sigma DMAIC method. Risk management framework will be used to identify the risk rating for each risk, which will be used when planning the mitigation strategies. Six Sigma DMAIC method will identified what is the problem, how it the performance regarding the process related to the problem, what is the root causes, how to improve it, and how to control it. After using the risk management framework and Six Sigma DMAIC method, it is found that the root causes of the problems, which is identified by using fishbone diagram tools, is People and Machine. The author then provided the risk mitigation strategies solution of improvement, the implementation plan, and how to control it. With this research, the author hopes that it will help reducing/mitigating any losses received by PT Gasses Logistic incurred by those problems.

ISLAMIC BANKING SYSTEM IN THE SULTANATE OF OMAN FROM THE PERSPECTIVE OF BANKING OFFICERS EMPLOYEES AND CUSTOMERS

This research aims to determine the viability for the operation of Islamic banks within the Omani banking system. By looking into various opportunities for Islamic banking in Oman and given the unique rules on transactions (fiqh muamalat) of Islamic banking based on the Shariah precepts or the so-called Islamic law. As the establishment of small and medium enterprises (SMEs) is rapidly growing in Oman, many SMEs can draw support from Islamic banks. The study used a mixed method approach to answer the research questions. Do the participants patronize Islamic banking over conventional banking?. The study compared both conventional and Islamic Banking. The population of the study represented bank officers, bank employees and customers. The sample of the study (n=100) participated in the survey. Another selected sample participated in interviews. Findings revealed different views over Islamic banking. Islamic banking is careful to provide products and services. Also, they are found to be capable of offering products and processes that answers the need of certain aspects with a risk management framework that is distinct from what normal banking provides. The study findings support the need for Islamic banking systems as it would be easier to spread Islamic banking and financing.

The Risks in Agriculture, Farmers' Responses and Support Solutions in Nghe An

This study focuses on analyzing the risks that affect in agricultural production and response of farmers. Research data was collected in Nghe An, Vietnam with 200 samples, audited by Binary Logistic Model. The research results show that the main risks affecting agriculture in Nghe An are mainly weather risks, pest risks and economic risks. And to cope with those risks, farmers have chosen a number of response measures, based on the support of the government, that have yielded clear results. The study provides empirical evidence on the current situation of risk identification and how to choose to respond to risks in agriculture, offering solutions to help improve the agricultural risk management framework in Nghe An, Vietnam.

Internal Control Frameworks and Its Relation with Governance and Risk Management: An Analytical Study

This study aims at searching in different editions of internal control frameworks and its relation with governance and risk management by dividing the study into three themes. The first one includes studying each framework in terms of the concept of internal control, elements and goals and what makes it different form the latter. The second concerns the relation of internal control with governance and the importance of what it provides to economic unity. The third one and the last regards the relation of internal control to risk management framework and what economic unity will achieve if it managed its risks properly through presenting a number of academic studies that dealt with the subject of the study. The design of this paper depends on reviewing literature during the period (2012-2019) and analyzing results concluded by these literatures concerning the study of internal control framework and its relation with governance and risk management. The study concluded that economic unity cannot achieve its goals and maintain success without an effective management of risks, control and governance. Board of directors and administration both need each other to apply governance, risk management and control effectively.

Analisis Tingkat Maturitas Implementasi Manajemen Risiko di IPB University

The implementation of risk management will not always achieve its goals. This problem can be caused by lack of consistency during the risk management implementation or it can not adapt to environmental changes. Therefore, an organization needs to measure the maturity level of the organization’s risk management implementation. This research aims to analyze the maturity level of risk management implementation at IPB University. The research was conducted at IPB University, and it was using primary and secondary data. Research shows that the characteristics that need to be measured, or the attributes that need to be measured, in measuring the maturity level of risk management implementation at IPB University are risk culture, risk management framework, risk management process and risk management documents. The attributes will have their indicators, parameters, and test factors. The result of the measuring of maturity level of risk management implementation at IPB University indicates that risk management at IPB University has been implemented systematically and the implementation has referred to the standard consistently and comprehensively. Risk management has begun to be integrated to organization governance and management. The risk management competence, leadership, and commitment are starting to expand through the organization but the positive attitudes in managing risk is still tend to be limited.

Defining a Path Toward the Use of Fast-Scan Cyclic Voltammetry in Human Studies

Fast Scan Cyclic Voltammetry (FSCV) has been used for decades as a neurochemical tool for in vivo detection of phasic changes in electroactive neurotransmitters in animal models. Recently, multiple research groups have initiated human neurochemical studies using FSCV or demonstrated interest in bringing FSCV into clinical use. However, there remain technical challenges that limit clinical implementation of FSCV by creating barriers to appropriate scientific rigor and patient safety. In order to progress with clinical FSCV, these limitations must be first addressed through (1) appropriate pre-clinical studies to ensure accurate measurement of neurotransmitters and (2) the application of a risk management framework to assess patient safety. The intent of this work is to bring awareness of the current issues associated with FSCV to the scientific, engineering, and clinical communities and encourage them to seek solutions or alternatives that ensure data accuracy, rigor and reproducibility, and patient safety.