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Operations Research, Systems Engineering and Industrial Engineering Commons™

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Series

2011

Old Dominion University

Risk management

Articles 1 - 2 of 2

Full-Text Articles in Operations Research, Systems Engineering and Industrial Engineering

Delayed-Bang Approach Towards More Sustainable Critical Infrastructure Risk Management, C. Ariel Pinto, Michael K. Mcshane, Abhishek S. Pathak Jan 2011

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.

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Emerging M&S Application In Risk Management, C. Ariel Pinto, Andreas Tolk, Michael Mcshane Jan 2011

Emerging M&S Application In Risk Management, C. Ariel Pinto, Andreas Tolk, Michael Mcshane

Engineering Management & Systems Engineering Faculty Publications

There has been compelling signs of the great potential of building further synergy with academics, researchers, and industry practitioners from the areas of Modeling and Simulation (M&S) managing risk events. This paper provides an introduction to risk management and how M&S has permeated the risk management process. The trend has been to harness the advantages of M&S tools and techniques in terms of efficiency and effectiveness in managing risks. However, the more important contribution of M&S may be in how it provides a way for specialists in various disciplines or industries interact to manage risks that require multi-disciplinary approach. This …

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