Developing a Numerical Method of Risk Management Taking into Account the Decision-Maker’s Subjective Attitude towards Multifactorial Risks
Abstract
:1. Introduction
2. Literature Review
3. Methodology
3.1. Applied Terminology and Definitions
3.2. Approximate Method
3.3. Statement of the Risk Management Problem
3.4. Applied Programs
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- prototyping is carried out in order to create a sample information system to demonstrate the principles of operation and perform preliminary tests;
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- the resulting prototype is easy to use as an element of the technical task for programmers to create an information system;
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- Microsoft Excel spreadsheets are quite common; hence, the prototype can be demonstrated on almost any computer and users do not need to take special advanced training courses; and
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- work in Microsoft Excel does not require advanced programming skills, which will allow users to modify the prototype of the information system on their own.
4. Results
5. Conclusions and Discussion
Author Contributions
Funding
Data Availability Statement
Conflicts of Interest
References
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Risk Significant Score | Generalized Risk Category | Risk Response Strategy |
---|---|---|
4 | extreme risk (e) | avoidance |
3 | high risk (h) | transfer |
2 | medium risk (m) | mitigation |
1 | negligible risk (n) | acceptance |
Risk Significant Score | Risk Event Likelihood/ Probability 1 | Risk Event Consequences |
---|---|---|
4 | very likely (v) | disastrous (d) |
3 | likely (l) | critical (c) |
2 | possible (p) | significant (s) |
1 | unlikely (u) | acceptable (a) |
No. | Risk Register | Current Values of Risk-Forming Parameters: Likelihood (Probability) and Consequences | Minimal Values of Risk-Forming Parameters (Limits for Reducing) | ||
---|---|---|---|---|---|
XL | XC | XLmin | XCmin | ||
1 | Risk factor 1 | 3.0 | 4.0 | 2.0 | 2.5 |
2 | Risk factor 2 | 4.0 | 4.0 | 1.3 | 1.2 |
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Alekseev, A.; Mingaleva, Z.; Alekseeva, I.; Lobova, E.; Oksman, A.; Mitrofanov, A. Developing a Numerical Method of Risk Management Taking into Account the Decision-Maker’s Subjective Attitude towards Multifactorial Risks. Computation 2023, 11, 132. https://doi.org/10.3390/computation11070132
Alekseev A, Mingaleva Z, Alekseeva I, Lobova E, Oksman A, Mitrofanov A. Developing a Numerical Method of Risk Management Taking into Account the Decision-Maker’s Subjective Attitude towards Multifactorial Risks. Computation. 2023; 11(7):132. https://doi.org/10.3390/computation11070132
Chicago/Turabian StyleAlekseev, Aleksandr, Zhanna Mingaleva, Irina Alekseeva, Elena Lobova, Alexander Oksman, and Alexander Mitrofanov. 2023. "Developing a Numerical Method of Risk Management Taking into Account the Decision-Maker’s Subjective Attitude towards Multifactorial Risks" Computation 11, no. 7: 132. https://doi.org/10.3390/computation11070132
APA StyleAlekseev, A., Mingaleva, Z., Alekseeva, I., Lobova, E., Oksman, A., & Mitrofanov, A. (2023). Developing a Numerical Method of Risk Management Taking into Account the Decision-Maker’s Subjective Attitude towards Multifactorial Risks. Computation, 11(7), 132. https://doi.org/10.3390/computation11070132