Patent ID: 8036928
Filing Date: 2011-10-11
Classification: G06Q

Abstract:
1. A method for assessing operational process quality comprising the steps of: identifying at least one entity which holds a legal, beneficial, contractual, regulatory or other interest in or obligation with respect to cash and at least one metric with respect to a pre-selected cash-affecting operational process of interest of said at least one entity, said at least one metric having substantial correlation to cash-affecting operational process quality for said operational process, wherein said at least one metric includes one or more factors or dimensions each of which is represented by a combination of an identifier and one or more values which correspond, respectively, to one or more values of the factors or dimensions at different points in time, and wherein said operational process comprises one or more events, which follow from or are necessary to initiate, sustain, maintain or terminate a legal, beneficial, contractual, regulatory or other interest or obligation with respect to said cash; obtaining data from one or more sources which represent at least one actual initial cash-affecting condition for said at least one entity; selecting event data which represent continuous observations of the actual performance of said pre-selected cash-affecting operational process during a time period of interest wherein said event data comprises a plurality of events and each of said events comprises an action, transaction or omission with respect to said cash that affects the value of said at least one entity; applying, using at least one processor of a computer system, one or more process measures and rules, which represent ideal performance of said pre-selected cash-affecting operational process in terms of cash-affecting operational process quality, to the selected event data to produce intermediate results, wherein said intermediate results represent a comparison of actual performance of said pre-selected cash-affecting operational process with ideal performance in terms of cash-affecting operational process quality for said at least one entity, wherein said ideal performance of said pre-selected cash-affecting operational process is defined by at least one rule and said comparison comprises a determination whether each of said events is compliant with said at least one rule, wherein said at least one rule comprises one or more logical expressions which represent an express, implied or mandated legal requirement or other expectation, wherein said at least one process measure comprises one or more logical expressions used to calculate operational process quality; applying the identified at least one metric to said intermediate results, using said at least one processor of a computer system, to calculate an operational value at risk in quantitative terms, whereby a condition which represents a potential loss for said at least one entity is identified prior to recognition of an actual loss occurring; and expressing substantially in real-time, using a graphical display of said computer system, said calculated operational value at risk in quantitative terms.