Operational risk as a problematic triad: risk - resource security - business continuity
Publisher: edu-Libri www.edu-libri.pl
Published: 2014
Place of publication: Cracow, Poland
Language: eng
Format: ePDF
Number of pages: 109
Description: The impermanence and unreliability of all human products is inherent in engineering and economic practice, and also in every individual’s everyday life. We do not truly expect that anything will serve us "forever", but we are annoyed if something fails unexpectedly. Therefore, for the provider of the product or service, raising the level of reliability is a challenge taken up as part of professional business organisation in the broad sense – both academically and commercially. 
Providing reliable operation of equipment and technical systems has been known since the dawn of industrial history, or at least since the 19th-century industrial revolution. To this day, science is developing reliability theory, positioned at the juncture of mathematics and the technical sciences. The issue of technical failures, their causes and effects, or the interference they cause, is inherent in engineering behaviour, and extensive experience in both verifying the scientific findings and shaping professional best practice in the design of devices and systems with established reliability, and the drawing up of organisational solutions with predicted failure of the devices used in mind.
At the same time, there is no analogously advanced theory for the efficiency of entities which are business and administrative in nature. Their efficiency is undermined by the impact of operational risks (to a large extent organisational), i.e. the risks to which an organisation is susceptible mainly due to imperfections in internal processes, shortage of employee skills or poor resource management. Over recent years, this issue has been included in the catalogue of risk types in business practice which are identified and measured, and in the face of which appropriate technical and organisational security, and ultimately appropriately estimated financial reserves have been created.
This paper is a summary of the author’s achievements and his research on the problematic triad "Operational Risk – Resource Security – Business Continuity”.
Table of contents: title: Introduction	4; title: 1.	Introduction to the issue	11; title: 2.	Risk	24; title: 2.1.	Risk and uncertainty	24; title: 2.2.	Types and classifications of risk	26; title: 2.3.	The concept of comprehensive risk classification	30; title: 2.4.	Risk measurement	33; title: 2.5.	Risk management	36; title: 2.6.	Risk management maturity level assessment	41; title: 3.	Operational risk and its classifications	47; title: 3.1.	The problematic triad “Risk – Security – Business Continuity”	47; title: 3.2.	The existing approach towards operational risk	48; title: 3.3.	Proposed perspective according to organisation theory	51; title: 4.	The process of operational risk management	59; title: 4.1.	Risk management organisation	59; title: 4.2.	Risk identification, analysis, and assessment	64; title: 4.3.	Influencing and monitoring risk	68; title: 5.	Ensuring security in the management of operational risk	73; title: 5.1. 	Security in terms of resources	73; title: 5.2. 	Business continuity as security	79; title: 5.3. 	Management maturity assessment a security provision	81; title: 6.	Ensuring business continuity in managing operational risk.	83; title: 6.1. 	Model provision of business continuity	84; title: 6.2. 	Organising business continuity	95; title: 6.3. 	The analysis and planning procedure	97; title: 6.4. 	Business continuity maturity model	107; title: Summary	109; title: Conclusions	112; title: Issues for further research	117; title: Bibliography	119