An approach to risk events analysis for ERM using AHP and cluster analysis
- Publisher:
- IEEE
- Publication Type:
- Conference Proceeding
- Citation:
- Proceedings - 2010 IEEE 17th International Conference on Industrial Engineering and Engineering Management, IE and EM2010,, 2010, pp. 1009 - 1013
- Issue Date:
- 2010-01
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Filename | Description | Size | |||
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2010003115OK.pdf | 1.28 MB |
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An increase in enterprise's operational risk
concerns a broader range of corporate stakeholders.
Therefore, there is a need for integrated Enterprise Risk
Management (ERM) system, in order to keep the enterprise
competitive. There also has been a paucity of practical and
effective ERM tools for the analysis of risk events, which is
the basis of the ERM system.
This paper proposes an approach of using AHP and
cluster analysis to enable the identification of the major
risks associated with the enterprise's operation, and the
exploration of the relationships among the risk events. In
addition, the method of AHP and cluster analysis including
its application on ERM is discussed in the paper. A case
study has been implemented in order to reinforce the
analysis. The results indicate that the method of AHP and
cluster analysis can potentially serve as a uniform base for
the risk events analysis at the event layer of the ERM. That
will provide the management further understanding on the
risk events, thus improve their risk management
performance.
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