Risk Management for Software Projects
IEEE Software
Latin hypercube sampling of Gaussian random fields
Technometrics
The IS risk analysis based on a business model
Information and Management
Identifying and managing project risk: essential tools for failure-proofing your project
Identifying and managing project risk: essential tools for failure-proofing your project
Situational method engineering for governance, risk and compliance information systems
Proceedings of the 4th International Conference on Design Science Research in Information Systems and Technology
Aligning Risk Management and Compliance Considerations with Business Process Development
EC-Web 2009 Proceedings of the 10th International Conference on E-Commerce and Web Technologies
Formalizing process-based risk with Value-Focused Process Engineering
Information Systems and e-Business Management
Profiling event logs to configure risk indicators for process delays
CAiSE'13 Proceedings of the 25th international conference on Advanced Information Systems Engineering
Real-time risk monitoring in business processes: A sensor-based approach
Journal of Systems and Software
Cyber-risk decision models: To insure IT or not?
Decision Support Systems
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The operational continuity of a business process is an important performance indicator that contributes to the perceived quality of service delivery, hence it is important to understand and monitor the underlying issues that can affect the performance of the process. These issues might have been foreseen at the beginning of the process design and deployment phase, or might have emerged during the execution of the process, and must be viewed as risk threats to the business process. In most cases risk is only considered from the project management angle or from financial, market, insurance and other general business perspective. Operational risk at service provision level receives little attention and thus there is a need to develop methodologies and tools to identify and analyse business operational risks. The authors concentrate on operational risk for business process management by introducing a novel way for applying risk assessment frameworks at the process activity level. The paper briefly reviews existing risk frameworks and selects the COSO framework as the most appropriate for business processes. This framework is modified in order to address and evaluate the main elements of business processes. It defines a statistical approach towards operational risk assessment by quantifying risk factors in each activity within a business process for service provision. A risk forecast is produced for each activity, and for the whole process, to model associated uncertainties and to contribute in identifying the risk factors that affect the business process objectives. To demonstrate the framework, it is applied to a hypothetical process involving setting up a network service. These results help to advise on which risk factors need higher attention in order to achieve successful process fulfilment.