As outsourcing is becoming mandate for today’s business, there has been a variety of researches taking place. This paper discusses on managing operational risks in an organization where one or more business processes are being outsourced. We first review on changing nature of operational risks not only in outsourced process itself, but also among any other interrelated processes. Then a concept...

Due to the new regulatory guidelines known as Basel II for banking and Solvency 2 for insurance, the financial industry is looking for qualitative approaches to and quantitative models for operational risk. Whereas a full quantitative approach may never be achieved, in this paper we present some techniques from probability and statistics which no doubt will prove useful in any quantitative mode...

Operational risk management is the process of monitoring, evaluating, and changing courses of actions with potential detrimental consequences in real time. In this paper, we extend the decision models proposed in the literature for individual risk managers to account for situations where multiple risk managers are involved. For this purpose, two dynamic and adaptive preference aggregation model...

Over the last decade, studies of management fashions have shown that the rise and fall of the fashions can be seen as a reflection of a knowledge enterprise, where knowledge of new management techniques is selectively proposed, promoted, and propagated by different stakeholders. This research on management fashions has yielded a number of insightful research questions and a set of methods for i...

To enhance Patient’s safety, we need effective methods for risk management. This work aims to propose an integrated approach to risk management for a hospital system. To improve patient’s safety, we should develop flexible methods where different aspects of risk and type of information are taken into consideration. This paper proposes a fuzzy Bayesian network to model and analyze risk in the op...