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Operational Risk Management: a practical approach to intelligent data analysis
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Operational Risk Management is becoming a key competency for organisations in all industries. Financial institutions,
regulated by the Basel II accord, need to address it systematically since their level of implementation affects their
capital requirements, one of their major operational expenses. Health organisations have been tackling this challenge for
many years. The Institute of Medicine reported in 2000 that 44,000 - 98,000 patients die each year in the US as a result
of medication errors, surgical errors and missed diagnoses, at an estimated cost to the US economy of $17-$29 billion.
Operational risks affect large organisations as well as Small and Medium-sized Enterprises (SMEs) in virtually all
industries, from the oil and gas industry, to hospitals, from education to public services.
This multi-author book is about tracking and managing operational risks using state-of-the-art technology that combines
the analysis of qualitative, semantic, unstructured data with quantitative data. The examples used are mostly from
information technology but the approach is general. As such, the book provides knowledge and methods that can have a
substantial impact on the economy and quality of life.
The book has four main parts. Part I is an introduction to Operational Risk Management, Part II deals with data for
Operational Risk Management and its handling, Part III covers operational risks analytics and Part IV concludes the
book with several applications and a discussion on how Operational Risk Management integrates with other disciplines.
The fourteen chapters and the book layout are listed below with short descriptions.
9780470517666
NONE
Operational Risk Management: a practical approach to intelligent data analysis
Management
English
John Wiley & Sons Ltd.
2011
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