The cost of cybersecurity incidents is large and growing. However, conventional methods for measuring loss and choosing mitigation strategies use simplifying assumptions and are often not supported by cyber attack data. In this paper, we present a multivariate model for different, dependent types of attack and the effect of mitigation strategies on...
The study aims to investigate threats that might occur in diversification management, operational risks of banking services in the process of digitalization, as well as the impact on customers and banks. The right choice of a risk management model for a bank plays an important role in the sustainable development of competitiveness and the transform...
This paper deals with the management of coal handling operational risks related to the transport of stripped overburden in giant brown coal pit quarries. It aims to identify and analyze the operational risks of currently applied continuous conveyance and to consider alternative transport, i.e., discontinuous transport. The Ishikawa diagram was used...
Ports are strategic hubs of the logistic chain and are likely to be exposed to natural hazard events. Variation of metocean agents derived from climate change, such as sea level rise or changes in the magnitude, frequency, duration, and direction of storms, can modify the infrastructural and operational vulnerability of port areas and activities, d...
Failure Mode and Effect Analysis (FMEA) is a useful risk assessment tool used to identify, evaluate, and eliminate potential failure modes in numerous fields to improve security and reliability. Risk evaluation is a crucial step in FMEA and the Risk Priority Number (RPN) is a classical method for risk evaluation. However, the traditional RPN method...
The integration of numerous intermittent renewable energy sources (IRESs) poses challenges to the power supply-demand balance due to the inherent intermittent and uncertain power outputs of IRESs, which requires higher operational flexibility of the power system. The deployment of flexible ramping products (FRPs) provides a new alternative to accom...
The analysis of loss data is of utmost interest in many branches of the financial and insurance industries, in structural engineering and in operation research, among others. In the financial industry, the determination of the distribution of losses is the first step to take to compute regulatory risk capitals / in insurance we need the distributio...
Peer reviewed
Peer reviewed
Published in Proceedings of the International Conference on Business Excellence
The operational risk has been analysed quite recently, both by the academic environment and by financial entities in their practical activity. This new risk has recently been introduced into the “solvency models” provided by the Capital Requirement and Solvency legislation. The “solvency models” are absolute assessment models and are based on the i...
