Possibility-Based ERM

Posted July 18, 2012 | Leadership |

FLAWED ASSUMPTIONS OF PROBABILITY THEORY

Risk analysis is the core of enterprise risk management (ERM). For example, to conduct a cost-benefit analysis of new security safeguards and controls, organizations first have to perform risk analysis. Risk analysis starts with the identification of risks and assigning values such as probabilities of risk occurrence and the expected amount of damage.

About The Author
Jongwoo Kim
Jongwoo Kim is an Assistant Professor of Management Sciences and Information Systems (MSIS) at the University of Massachusetts Boston. Dr. Kim's work has appeared in IEEE Transactions on Engineering Management, Software Process Improvement and Practice, International Journal of Intelligent Information Technologies, and at several conferences. His research interests include IS security, conceptual modeling, and IT in interorganizational networks… Read More
Carl Stucke
Carl Stucke is an Associate Chair of the Department of Computer Information Systems, Robinson College of Business, Georgia State University. Dr. Stucke's interests include distance learning, risk management, security, privacy, business continuity, object-oriented systems analysis, and advanced technology-based business solutions. In addition to 18 years in the academic world, he has 20 years' commercial experience, including senior technical and… Read More
Richard Baskerville
Richard L. Baskerville is Professor of Information Systems and Chairman in the Department of Computer Information Systems, Robinson College of Business, Georgia State University. His research specializes in security of information systems, methods of information systems design and development, and the interaction of information systems and organizations. His interest in methods extends to qualitative research methods. Dr. Baskerville is the… Read More
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