Method and apparatus for operational risk assessment and mitigation

US7979298B2 · kind B2 · utility

Assignee

• International Business Machines Corporation · US

Inventors

• Feng Cheng
• David Gamarnik · New York, US
• Wanli Min · Hangzhou City, CN
• Bala Ramachandran · Easton, US
• Jonathan Miles Collin Rosenoer · Westport, US

Key dates

• Filing date: Apr 4, 2008
• Grant date: Jul 12, 2011
• Expiry date: Jul 7, 2029

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/03
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Risk in business management is analyzed based on a probabilistic network approach which quantifies the impact of operational risk on financial metrics such as Value-at-Risk (VAR) and/or Potential Losses (PL). This approach provides further capability to determine the optimal placement of one or more countermeasures within a system to minimize the impact of operational risks.