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English (United Kingdom)

Complex Landscapes of Risk in Operations Systems Aspects of Modelling and Processing

Year: 2013
Type of Publication: In Proceedings Keywords: Integrated risk management, resolution of object and time, semantic models and technology, high-end computing
Editor: Claus-Peter Rückemann
Book title: The Third International Conference on Advanced Communications and Computation (INFOCOMP)
Pages: 99-104
Month: 11
ISSN: 1942-2628
November 17 - 22, 2013, Lisbon, Portugal
“Landscape of risk” (RL) is a metaphor to describe agglomerations of interdependent risk. The idea is to integrate the full scale, variety, velocity, variability and the related determinants of a complex operations’ system into one computable model. The atomic elements of this network are managed nodes being exposed to risk, thus becoming source or target of unplanned events, of positive or negative impacts and propagation effects. Management is understood as continuing effort of operations’ intelligence to realise and evaluate risk and to effectively act on it. The challenges are vast increases of the resolution of object and time and the accelerating change, of particularly technological innovation. These are reasons that RLs become more and dynamic, that models need to identify and capture interdependency across local and global levels and life-cycles, that learning needs to be directly integrated into the managerial workflows. Therefore, the RL concept allows for the integration of the “Big V” of data (volume, velocity, variability etc.) as well as for human and machine intelligence respectively learning. We discuss various problems and alternative models as well as architectures for processing complex landscapes and provide a first formal semantic model about the managerial handling of risk of for the management of unplanned events.