𝔖 Bobbio Scriptorium
✦   LIBER   ✦

Cause, consequence and control: towards a theoretical and practical model of operational risk

✍ Scribed by Michael A Lewis

Publisher
Elsevier Science
Year
2002
Tongue
English
Weight
792 KB
Volume
21
Category
Article
ISSN
0272-6963

No coin nor oath required. For personal study only.

✦ Synopsis

Abstract

Modified competitive, technological, social and political circumstances have magnified the potential impact of operations‐related failures; yet OM’s interest in operational β€˜risks’ remains underdeveloped. This paper develops a provisional model of operational risk based upon the input and outcome dimensions of causal event and negative consequence. Discussion of risk control constitutes a complementary theoretical dimension. Empirical evidence from four operational failure case studies offers an opportunity to revise and extend the initial model. Specific conclusions address the structural and temporal pathology of operational failure and the subjective β€˜layers’ of internal and external loss that appear to influence overall negative consequences. Additionally, effective risk control is highlighted as an integrated process with more similarities to service quality management than variation‐reduction process control. The paper concludes with reflection upon the limitations of the study and, given the preliminary nature of the work, some suggestions for future work.

πŸ“œ SIMILAR VOLUMES

Causes, consequences and control of wind
Causes, consequences and control of wind erosion in Sahelian Africa: a review
✍ G. Sterk πŸ“‚ Article πŸ“… 2003 πŸ› John Wiley and Sons 🌐 English βš– 178 KB

## Abstract Sahelian Africa is one of the poorest regions of the world, where approximately 90 per cent of the population depends on subsistence agriculture. Due to the high population growth, with annual growth rates of about 3 per cent during recent decades, farmers have expanded their cropping a

96/06669 Perceived ecological risks of g
96/06669 Perceived ecological risks of global change. A psychometric comparison of causes and consequences
πŸ“‚ Article πŸ“… 1996 πŸ› Elsevier Science βš– 190 KB

Clarifying lay views is a crucial step in characterizing the 'social construct' of global change. The article discusses lay perceptions of ecological risks associated with three global environmental change processes: (a) climate change, (b) ozone depletion, and (c) species loss. A psychometric risk

Control and Game-Theoretical Treatment o
Control and Game-Theoretical Treatment of a Cost-Security Model for Disarmament
✍ M. Jathe; W. Krabs; J. Scheffran πŸ“‚ Article πŸ“… 1997 πŸ› John Wiley and Sons 🌐 English βš– 484 KB

In this paper a time-discrete dynamic model for the process of disarmament is investigated. The state variables of the system are costs and security values. We assume that the costs can be controlled, and we aim at reducing the costs to zero and achieving non-negative security values after a finite

Clinical, imaging, lesion, and genetic a
Clinical, imaging, lesion, and genetic approaches toward a model of cognitive control
✍ B. J. Casey; Nim Tottenham; John Fossella πŸ“‚ Article πŸ“… 2002 πŸ› John Wiley and Sons 🌐 English βš– 325 KB

## Abstract The ability to suppress or override competing attentional and behavioral responses is a key component of cognitive processes. This ability continues to develop throughout childhood and appears to be disrupted in a number of childhood disorders (e.g., attention deficit/hyperactivity diso