Business Commons^™

Optimizing Cybersecurity Budgets With Attacksimulation, Alexander Master, George Hamilton, J. Eric Dietz

Faculty Publications

Modern organizations need effective ways to assess cybersecurity risk. Successful cyber attacks can result in data breaches, which may inflict significant loss of money, time, and public trust. Small businesses and non-profit organizations have limited resources to invest in cybersecurity controls and often do not have the in-house expertise to assess their risk. Cyber threat actors also vary in sophistication, motivation, and effectiveness. This paper builds on the previous work of Lerums et al., who presented an AnyLogic model for simulating aspects of a cyber attack and the efficacy of controls in a generic enterprise network. This paper argues that …

Risk Management Strategies To Prevent And Mitigate Emerging Operational Security Threats, Nancy Page Larrimore

Walden Dissertations and Doctoral Studies

Dependence on technology brings security compromises that have become a global threat that costs businesses millions of dollars. More than 7.6 million South Carolinians incurred effects from the 162 security breaches reported in 2011-2015. The purpose of this multiple case study was to explore the risk management strategies small business leaders use to prevent and mitigate operational security threats that produce financial losses. The population for this study consisted of 6 business leaders in South Carolina who have demonstrated successful experience in preventing and mitigating operational security threats. Transformational leadership theory provided the conceptual framework for exploring the overreaching research …

Management Of Inappropriate Behaviors By Healthcare Risk Managers, Sahar Ebrahim Zadeh

Walden Dissertations and Doctoral Studies

Medical errors are the 3rd leading cause of death in the U.S.. The problem is timely recognition and management of inappropriate healthcare worker behaviors that lead to intimidation and loss of staff focus, eventually leading to errors. The purpose of this qualitative modified Delphi study was to seek consensus among a panel of experts in hospital risk management practices on the practical methods for early detection of inappropriate behaviors among hospital staff, which may be used by hospital managers to considerably mitigate the risk of medical mishaps. High reliability theory guided the research process, utilizing the conceptual framework of fair …

Critical Risk Assessment And Management In Pharmaceutical Industry, Abida Zameer

Dissertations and Theses

Background

Proper implementation of principles of project risk management is well known to minimize the impact of threats to any project. However, the determination of critical success factors which threat the success of pharmaceutical projects at baseline are usually uncertain.

Methods

Data was collected using self-administered structured questionnaire generated solely for the purpose of the current research. The questionnaire was administered via e-mail to professionals employed in the pharmaceutical industry located in Boston area using www.surveymonkey.com. The introduction and purpose of the questionnaire was described in the message accompanying the questionnaire.

Results:

Out of the 14 critical success factors listed …

Exploring Strategies For Early Identification Of Risks In Information Technology Projects, Nina Michele Mack-Cain

Walden Dissertations and Doctoral Studies

Project managers must ensure risk management and business justification for their projects. Approximately, 53% of IT projects failed due to project managers not identifying risks early in the projects' lifecycle. The purpose of this single case study was to explore strategies IT project managers utilize to identify risks early in the project's lifecycle. The study population consisted of 5 lead IT project managers from a telecom company located in the Midwest region of the United States who had managed IT projects. The conceptual framework that grounded this study was the general systems theory. The data collection process involved semistructured interviews, …

Project Risk Management Strategies For It Project Managers, John Stephen Cabral

Walden Dissertations and Doctoral Studies

Utilizing information technology (IT) to enable new organizational capabilities to achieve near-term objectives and long-term sustainability is a top priority for many business leaders seeking to maintain or increase market share. However, organizational leaders face significant challenges to their strategy execution because the percentage of challenged IT projects has remained relatively static for decades. The purpose of this qualitative case study was to explore risk management strategies used by 7 purposely selected IT project managers (PMs) from a pharmaceutical company located in the northeastern United States who have effectively managed IT project performance by using risk management strategies, leading to …

Managing Your Business And Risk With Military Discipline, Loren M. Reno

Business Administration Faculty Presentations

No abstract provided.

Exploring Recruiting Challenges Of The Insurance Industry, Hema Chaurasia

Walden Dissertations and Doctoral Studies

Insurance companies provide financial protection to the general population, but their workforce challenges may destabilize the companies to the point of financial distress. Senior insurance company leaders lack effective strategies to recruit skilled professionals. With contingency theory and resource-based view theory as the framework, the focus in this multicase study was the exploration of the recruiting strategies of human resources (HR) managers in New York City area insurance companies. Four insurance company HR managers were recruited via a purposeful and snowball sampling method for semistructured interviews. These interviews were analyzed through a reflective interpretation process, which was guided by the …

Business Intelligence In Risk Management: Some Recent Progresses, Desheng Dash Wu, Shu-Heng Chen, David L. Olson

Department of Management: Faculty Publications

Risk management has become a vital topic both in academia and practice during the past several decades. Most business intelligence tools have been used to enhance risk management, and the risk management tools have benefited from business intelligence approaches. This introductory article provides a review of the state-of-the-art research in business intelligence in risk management, and of the work that has been accepted for publication in this issue of Information Sciences.

An Evaluation Of Risk Management Courses Offered In Engineering Management Programs, S. Jimmy Gandhi, C. Ariel Pinto

Engineering Management & Systems Engineering Faculty Publications

For this paper, the authors have surveyed a total of 22 engineering management (EM) programs in the United States (both accredited and non-accredited). The purpose of this study was to analyze the offering of risk management courses as part of the engineering management curriculum. The findings showed that the majority of the programs did not offer a single dedicated course on risk management and merely covered the topic as part of other courses such as project management. The authors have made recommendations that risk management should be included as a required part of the EM curriculum due to the higher …

Project And Risk Management: A Systematic Approach, Baqer Alali, C. Ariel Pinto, Andreas Tolk, Rafael Landaeta

Engineering Management & Systems Engineering Faculty Publications

The main purpose of this paper is to discuss three related topics of project management, systems management, and risk management. The issue that would be addressed in this paper is how risks are addressed in project and systems management, and how risks are propagated between projects and systems. A framework is proposed to overcome the problem of risk propagation from project to the systems. It was shown that the proposed framework can be deployed to existing risk management process with reasonable interventions (e.g. process prescribed by PMI). Finally a proof-of-concept application shows potential of the framework for various types of …

Time Valuation Of Risk A Delayed-Bang Approach, Abhishek Pathak

Engineering Management & Systems Engineering Theses & Dissertations

The subject of this thesis is the combined use of engineering economics and survival analysis in estimating time-value of risk-related resources. The discussion includes (1) the need for sustainable risk management, (2) the importance of time-valuation of risk related resources in the allocation or selection among competing risk mitigation alternatives, (3) the convergence of deterministic engineering economics, survivability analysis, and probabilistic analysis, and (4) results and examples of application in the context of prevention of risk event or mitigation of its consequences.

The significance of this thesis is in how three topics: engineering economics, survivability analysis, and probability theory can …

Allocating Contractor Risks In The Hanford Waste Cleanup, Jeffrey M. Keisler, William A. Buehring, Peter D. Mclaughlin, Mark A. Robershotte, Ronald G. Whitfield

Management Science and Information Systems Faculty Publication Series

Organizations may view outsourcing as a way to manage risk. We developed a decision-analytic approach to determine which risks the buyer can share or shift to vendors and which ones it should bear. We found that allocating risks incorrectly could increase costs dramatically. Between 1995 and 1998, we used this approach to develop the request for proposals (RFP) for the US Department of Energy’s (DOE’s) privatization initiative for the Hanford tank waste remediation system (TWRS). In the model, we used an assessment protocol to predict how vendors would react to proposed risk allocations in terms of their actions and their …

Allocating Contractor Risks In The Hanford Waste Cleanup, Jeffrey M. Keisler, William A. Buehring, Peter D. Mclaughlin, Mark A. Robershotte, Ronald G. Whitfield

Jeffrey Keisler

Organizations may view outsourcing as a way to manage risk. We developed a decision-analytic approach to determine which risks the buyer can share or shift to vendors and which ones it should bear. We found that allocating risks incorrectly could increase costs dramatically. Between 1995 and 1998, we used this approach to develop the request for proposals (RFP) for the US Department of Energy’s (DOE’s) privatization initiative for the Hanford tank waste remediation system (TWRS). In the model, we used an assessment protocol to predict how vendors would react to proposed risk allocations in terms of their actions and their …

Managing Information Technology Investment Risk: A Real Options Perspective, Michel Benaroch

Management - All Scholarship

Past information systems research on real options has focused mainly on evaluating information technology (IT) investments that embed a single, a-priori known option. However, since real options are not inherent in any IT investment, they usually must be planned and intentionally embedded in a target IT investment in order to control various investment-specific risks, just like financial risk management uses carefully chosen options to actively manage investment risks. Moreover, when an IT investment involves multiple risks, there could be numerous ways to reconfigure the investment using different series of cascading (compound) options. In this light, we present an approach for …

Corporate Risk Policies, P. Bruce Buchan

Management Adviser

No abstract provided.