108,072 research outputs found
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Computer trading and systemic risk: a nuclear perspective
Financial markets have evolved to become complex adaptive systems highly reliant on the communication speeds and processing power afforded by digital systems. Their failure could cause severe disruption to the provision of financial services and possibly the wider economy. In this study we consider whether a perspective from the nuclear industry can provide additional insights
Requirements: The Key to Sustainability
Software's critical role in society demands a paradigm shift in the software engineering mind-set. This shift's focus begins in requirements engineering. This article is part of a special issue on the Future of Software Engineering
STOP-IT: strategic, tactical, operational protection of water infrastructure against cyberphysical threats
Water supply and sanitation infrastructures are essential for our welfare, but vulnerable to several attack types facilitated by the ever-changing landscapes of the digital world. A cyber-attack on critical infrastructures could for example evolve along these threat vectors: chemical/biological contamination, physical or communications disruption between the network and the supervisory SCADA. Although conceptual and technological solutions to security and resilience are available, further work is required to bring them together in a risk management framework, strengthen the capacities of water utilities to systematically protect their systems, determine gaps in security technologies and improve risk management approaches. In particular, robust adaptable/flexible solutions for prevention, detection and mitigation of consequences in case of failure due to physical and cyber threats, their combination and cascading effects (from attacks to other critical infrastructure, i.e. energy) are still missing. There is (i) an urgent need to efficiently tackle cyber-physical security threats, (ii) an existing risk management gap in utilitiesâ practices and (iii) an un-tapped technology market potential for strategic, tactical and operational protection solutions for water infrastructure: how the H2020 STOP-IT project aims to bridge these gaps is presented in this paper.Postprint (published version
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A revised perspective on the evaluation of IT/IS investments using an evolutionary approach
On-going research into the evaluation of Information Technology (IT) / Information Systems (IS) projects has shown that aerospace and supply chain industries are needing to address the issue of effective project investment in order to gain technological and competitive advantage. The evaluative nature of the justification process requires a mapping of interrelated quantities to be optimised. Earlier work by the authors (Irani and Sharif 1997) has presented a theoretical functional model that describes these relationships in turn. By applying a fuzzy mapping to these variables, the optimisation of intangible relationships in the form of a Genetic Algorithm (GA) is proposed as a method for investment justification. This paper revises and reviews these key concepts and provides a recapitulation of this optimisation problem in terms of long-term strategy options and cost implications.
Glossary of terms : DC = Direct Costs, FA = Financial Appraisal, FR = Financial Risks, FUR = Functional Risks, HC = Human Costs, IC = Indirect Costs, IR = Infrastructural Risks, OB = Operational Benefits, OC = Organisational Costs, PB = Project Benefits, PC = Project Costs, RF = Risk Factor, SB = Strategic Benefits, SM = Strategic medium-term benefit, SR = Systemic Risks, TB = Tangible Benefits, TC = Tangible Costs, TL = project lead time, TR = Technological Risks, V= Project Value
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Theoretical optimisation of IT/IS investments: A research note
The justification of Information Technology (IT) is inherently fuzzy, both in theory and practice. The reason for this is due to the largely intangible dimensions of IT projects. In view of this, this research note presents the results of on-going research, in the application of Fuzzy Cognitive Mapping (FCM), as a tool to identify complex functional interrelationships associated with the justification of IT. This paper presents a theoretical functional model which describes these relationships, and by using an FCM, further interrelationships are developed in the context of justifying IT projects. A procedure which would address the optimisation of these intangible relationships in the form of a Genetic Algorithm (GA) is proposed as a process for Investment Justification
Crisis' Heritage Management - New Business Opportunities Out of the Financial Collapse
This paper intends to present the opportunities emerging for the national
economy, out of the financial crisis. In particular the management of those,
which arise from the commercial real estate owned property sector, defined by
the author as crisis heritage management. On one hand, as real estate property
prices are subject of wide fluctuations, the longer possession of such assets
can seriously impact the financial condition of the already shattered financial
institutions, but on the on other - with the help of professional and proactive
management, and the right kind of attitude by all the stakeholders, the
heritage left out of the financial collapse, can not only help stabilize the
system - bringing liquidity into it, but can also support its healthy corporate
governance in the long-term. The properties themselves (business buildings,
warehouses, retail-and-office spaces), being an object of optimization of
maintenance costs, re-engineering, intensive marketing, as a result of the
crisis, can serve as a solid base for number of new and profitable business and
investment opportunities, described in the article, as a proof of the healing
effect of the financial crisis and the second chance it gives.Comment: Presented at the 2013 Sofia Business School Master Classes in Global
Risks Managemen
Nonbanks and risk in retail payments
This paper documents the importance of nonbanks in retail payments in the United States and in 15 European countries and analyzes the implications of the importance and multiple roles played by nonbanks on retail payment risks. This paper also reviews the main regulatory safeguards in place, and concludes that there may be a need to reconsider some of them in view of the growing role of nonbanks and of the global reach of risks in the electronic era.
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