On the anatomy of operational risk

Author

Silvestri, A. ; Cagno, E. ; Trucco, P.

Author_Institution

Internal Audit Dept., Politec. di Milano, Milan, Italy

fYear

2009

fDate

8-11 Dec. 2009

Firstpage

2174

Lastpage

2179

Abstract

The paper aims to contribute to the improvement of all the phases of the risk management process, enlarging the traditional description of cause-effect mechanisms (called Â¿pathologyÂ¿ based risk analysis) with some Â¿inherentÂ¿ characteristics of operational risk that could impact on the organizations core capabilities (called Â¿anatomyÂ¿ based risk analysis). After the proposal of a new operational risk definition, the paper describes the anatomy modelling of operational risk. A case study in project-based operations will be used to qualitatively compare the advantages of the anatomy-based approach with respect to the pathology approach, within the entire enterprise risk management process.

Keywords

project management; risk analysis; anatomy based risk analysis; cause-effect mechanism; enterprise risk management; operational risk; organization core capability; pathology based risk analysis; project-based operation; Anatomy; Business; Engineering management; Industrial engineering; Pathology; Production; Project management; Proposals; Risk analysis; Risk management; Enterprise Risk Management; Operational risk; project-based operations;

fLanguage

English

Publisher

ieee

Conference_Titel

Industrial Engineering and Engineering Management, 2009. IEEM 2009. IEEE International Conference on

Conference_Location

Hong Kong

Print_ISBN

978-1-4244-4869-2

Electronic_ISBN

978-1-4244-4870-8

Type

conf

DOI

10.1109/IEEM.2009.5373112

Filename

5373112