Finance and Financial Management Commons^™

A Monte-Carlo Analysis Of Monetary Impact Of Mega Data Breaches, Mustafa Canan, Omer Ilker Poyraz, Anthony Akil

Engineering Management & Systems Engineering Faculty Publications

The monetary impact of mega data breaches has been a significant concern for enterprises. The study of data breach risk assessment is a necessity for organizations to have effective cybersecurity risk management. Due to the lack of available data, it is not easy to obtain a comprehensive understanding of the interactions among factors that affect the cost of mega data breaches. The Monte Carlo analysis results were used to explicate the interactions among independent variables and emerging patterns in the variation of the total data breach cost. The findings of this study are as follows: The total data breach cost …

Profit Based Simulation Model For The Rail Transportation Industry, Mark Patrick Doran

Engineering Management & Systems Engineering Theses & Dissertations

Schedules often conflict in the rail transportation industry. Operations managers assign resources and make scheduling decisions with no visibility of the revenue, cost, and profitability characteristics of the route they are manipulating. Transit speed decisions focus on ensuring trains safely reach their destination on time with little regard given to the actual service needs of the customer. Although all customers want on-time deliveries, few actually pay a premium to garner this level of preferential treatment. Operating in this type of environment results in decisions that severely erode profits.

In this dissertation, a simulation model referred to as the Rail Profit …

Can Strategic Risk Management Contribute To Enterprise Risk Management? A Strategic Management Perspective, Phil Bromiley, Devaki Rau, Michael K. Mcshane

Finance Faculty Publications

Within the discipline of enterprise risk management (ERM), strategic risk management (SRM) has become a subject of increasing interest to practitioners and academics. To our knowledge, the term “strategic risk management” first appeared in the management literature in 1985 and 1986 (Jammine, 1985; Figenbaum & Thomas, 1986) and in the academic finance literature in 1990 (Rawls and Smithson, 1990), although early usage of the term did not clearly relate to later conceptions. The phrase has been in use even longer than ERM (Bromiley, McShane, Nair, and Rustambekov, 2014). Even with this longevity, the meaning of the term remains unclear, with …

Delayed-Bang Approach Towards More Sustainable Critical Infrastructure Risk Management, C. Ariel Pinto, Michael K. Mcshane, Abhishek S. Pathak

Finance Faculty Publications

This article describes the Delayed Bang Approach for determining the value of risk management alternatives in critical infrastructure security. The discussion includes (1) the need for sustainable risk management (2) the importance of time valuation in evaluating competing loss prevention and loss reduction alternatives, (3) the convergence of deterministic engineering economics, survivability analysis, and probabilistic analysis, and (4) hypothetical examples of the Delayed-Bang Approach and significance towards more sustainable risk management.

Risk And System-Of-Systems: Toward A Unified Concept, C. Ariel Pinto, Michael K. Mcshane, Rani Kady

Engineering Management & Systems Engineering Faculty Publications

The scope of this paper is the survey of both fundamental and most recent publications in system-of-systems, business and insurance, as well as risk analysis, modeling, and management for the purpose of better describing the concept of risk in recognition of emergence and complexity which characterizes many systems within the concern of engineering and business managers. The ultimate goal is to provide engineering and business managers the necessary perspective on the concept of risk and in its management for the next generation of sustainable systems - including various descriptions of risk and discussion of the relevance of properties of system-of-systems …

A Study Of Financial Analysis Expectations And Practices In The Engineering Management Workplace, Paul Kauffmann, Resit Unal, Andres Sousa-Poza, William Peterson

Engineering Management & Systems Engineering Faculty Publications

This paper describes an on-going study of Master of Engineering Management (MEM) students and the financial analysis related job expectations and environment they face. The objective of this effort is to provide enhanced understanding of these requirements so that instructional content in the related courses can be focused to meet these needs. To achieve this goal, the study segments findings based on a range of organizational and job level characteristics to identify critical differences in the financial work environment and the financial tools that are employed. Preliminary findings are discussed in this paper and contrasts between public and private sector …