Thesis (doctoral)--Universität zu Köln, 2005. / Includes bibliographical references (p. 359-416).

This study researches a rapidly growing area of interest in the financial services industry, that is,operational hsk management, with special focus on the mitigation phase. Operational risk management has accelerated in importance in the financial services over the last two decades for many reasons, not least of which is the well-known catastrophic failure of large banks such as BCCI, Barings and Indymac, as well as the recent Global Financial Crisis. One of the main drivers behind such bank failures was the failure of the banks' managements to manage effectively and efficiently their operational risk exposure. The focus of this study is operational risk mitigation in the United Arab Emirates Commercial banking industry. A controversial issue with operational risk was deciding on an agreed and accepted definition within the financial services industry. It has been defined by Basel Committee on Banking Supervision as "the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. This definition includes legal risk, but excludes strategic and reputational risk." This definition captures a wide spectrum of risk categories such as fraud risks, people risks, legal risks and compliance risks, to name a few. Basel Committee on Banking Supervision, a Committee of banking supervisory authorities established by the central bank Governors of the Group often countries in 1974, published in June 2006 a document called the "International Convergence of Capital Measurement and Capital Standards - A Revised Framework Comprehensive Version" known as Basel II Accord, which requires banks, among many other things, to sustain capital adequacy to cover their operational risk exposures. This Accord was the result of a number of consultative documents issued by the same Committee which focused increasing attention on the need for operational risk adequate and efficient management. Bank managements are facing increasing pressure to ensure that operational risk exposures are being managed effectively and efficiently. This extended the main momentum for the study, being the first independently sponsored study of how the UAE commercial banks have developed their operational risk management frameworks as a basis for mitigating the range of operational risk exposures they encounter. The operational risks that prompted the current Financial Crisis and how they were mitigated in the context of the UAE commercial banks gave further momentum to the research. The study addresses the various key players in operational risk management and is, therefore, interdisciplinary. The foundations from which the field work was undertaken were based on theoretical propositions in the area of decision making since the process of mitigating an operational risk is rooted in making a decision. Multiple case studies were used in the design for the research to answer the research question and establish the practices in operational risk mitigation in the UAE commercial banking industry. Leading UAE commercial banks were carefully chosen as representatives of this industry. The findings of the research are in line with the conclusions of Basel Commiltee on Banking Supervision that the main responsibility for operational risk management, and therefore mitigation, is vested in operational managers. The analysis demonstrates that (hey do not do this independently, but are supported by other experienced people in this field. A model and check-lists of operational risk management, and therefore mitigation, is proposed demonstrating the complexity of the whole process due to the nature and the scale of operational risks. The thesis concludes by discussing some further potential research suggestions in this ever-growing area of interest.

This research is conducted to formulate a framework for project risk management by evaluating the current understanding and practices. It examines the risk management processes provided by the various standards, frameworks and guidelines available globally. The research argues that the existence of varying risk management standards, frameworks and guidelines is not an assurance that organisations will adopt their principles and processes. Furthermore, these documents do not provide sufficient information concerning the understanding of the concept of risk and uncertainty and their management. To accomplish this goal, it became necessary for the research to reach an understanding about the concepts and fundamental issues of risk and uncertainty management. This research also sought to know how organisations in different industries manage risks and uncertainties for their projects. This research was confined to the study of the understanding and practices of PRM by established or influential organisations in aerospace and aviation, oil, gas and petrochemical, power, telecommunication as well as construction industries with matching criteria. Semi-structured interviews were conducted using an ‘aide-memoire’ with managers involved in the management of project risks to document the current practices of risk management. Thematic analyses were used to compress and summarise the large amount of data into internally consistent understandings of risk and uncertainty. Based on the results, the research proposes a structure that explains the current understanding of the concepts of risk and uncertainty as well as an outline process framework for conducting risk management for industry use. Practically, risk and uncertainty are found to be interrelated whereby and they happen as an outcome of each other’s occurrence. The proposed framework consists of six major steps which incorporated the purposes and activities within, providing a better understanding of how risk can be managed. This research contributes theoretically, methodologically and practically to project risk management body of knowledge.

This research explores the theory and practice of risk assessment and project evaluationand proposes novel alternatives. Reviewing literature revealed a continuous endeavourfor better project risk modelling and analysis. A number of proposals for improving theprevailing Probability-Impact (P-I) risk model can be found in literature. Moreover,researchers have investigated the feasibility of different theories in analysing projectrisk. Furthermore, various decision support systems (DSSs) are available for aidingpractitioners in risk assessment and decision making. Unfortunately, they are sufferingfrom a low take-up. Instead, personal judgment and past experience are mainly used foranalysing risk and making decisions.In this research, a new risk model is proposed through extending the P-I risk model toinclude a third dimension: probability of impact materialisation. Such an extensionreflects the characteristics of a risk, its surrounding environment and the ability ofmitigating its impact. A new assessment methodology is devised. Dempster-ShaferTheory of Evidence (DST) is researched and presented as a novel alternative toProbability Theory (PT) and Fuzzy Sets Theory (FST) which dominate the literature ofproject risks analysis. A DST-based assessment methodology was developed forstructuring the personal experience and professional judgment of risk analysts andutilising them for risk analysis. Benefiting from the unique features of the EvidentialReasoning (ER) approach, the proposed methodology enables analysts to express theirevaluations in distributed forms, so that they can provide degrees of belief in apredefined set of assessment grades based on available information. This is a veryeffective way for tackling the problem of lack of information which is an inherentfeature of most projects during the tendering stage. It is the first time that such anapproach is ever used for handling construction risk assessment. Monetary equivalent isused as a common scale for measuring risk impact on various project success objectives,and the evidential reasoning (ER) algorithm is used as an assessment aggregation toolinstead of the simple averaging procedure which might not be appropriate in allsituations. A DST-based project evaluation framework was developed using projectrisks and benefits as evaluation attributes. Monetary equivalent was used also as acommon scale for measuring project risks and benefits and the ER algorithm as anaggregation tool.The viability of the proposed risk model, assessment methodology and projectevaluation framework was investigated through conducting interviews with constructionprofessionals and administering postal and online questionnaires. A decision supportsystem (DSS) was devised to facilitate the proposed approaches and to perform therequired calculations. The DSS was developed in light of the research findingsregarding the reasons of low take-up of the existing tools. Four validation case studieswere conducted. Senior managers in separate British construction companies tested thetool and found it useful, helpful and easy to use.It is concluded that the proposed risk model, risk assessment methodology and projectevaluation framework could be viable alternatives to the existing ones. Professionalexperience was modelled and utilised systematically for risk and benefit analysis. Thismay help closing the gap between theory and practice of risk analysis and decisionmaking in construction. The research findings recommend further exploration of thepotential applications of DST and ER in construction management domain.

The diploma thesis introduces processing of an analysis that is realized within an engineering company that had decided to transfer its production from Nordic countries such as Norway and Sweden to the Czech Republic. The company decided to deal with the transfer without any use of project management and planning according to project management and its techniques. Therefore the diploma thesis is supposed to present how the project could look like if it was done by project methodology. The main parts of project are analysis of time, sources, costs and risk analysis. These are preceded by situation analysis which is resulted into SWOT. Factors mentioned in SWOT are used as inputs into risk analysis. Subsequently the risks are identified, evaluated and the proposals for reducing the risks are presented.

The diploma thesis deals with the issue of risk management in project management. It focuses on a project that describes a change in the holiday process and introduces a motivation system for employees. The thesis is divided into three parts. The first part describes the theoretical basis based on professional literature. The analytical part describes the current state of the process, the company and identifies the risks. The draft section proposes measures to reduce the risks in the project, and recommendations are made to increase the likelihood of adopting the proposed changes.

This diploma thesis deals with the project proposal to install continuous monitoring on company’s travel and expense, which will be performed by internal audit department. It contains an analysis of the current state of the company, based on which the project is designed using project management methods.

This diploma thesis is concentrated on the use of project management methods to create a new company network infrastructure. In the first part is a description of project management, project phases and other useful knowledge needed for the practice of project management. The next part is focused on the analysis of the company in which the network infrastructure will be introduced. Subsequently, the knowledge gained from the previous parts of the thesis is used to create a project proposal to build a new network infrastructure.

This thesis evaluates the current management practices in small business contracts, using standard methodologies and proposes concrete steps to improve that process. The thesis consists of four parts. The first part describes a small company, its history and present, its goals and business focus. The second part deals with basic concepts in management and project management and risk management. Another part of the thesis analyzes the current status in society, there is also described the management process of new contract, the exact definition of the project, the hierarchical structure of activity, a detailed description of all activities and the Gantt chart and risk impacts to society and the project itself. In another part of the thesis is put forward the solution and recommendations for the company. The conclusion of this thesis includes a summary of all knowledges.

This master’s thesis deals with project management and alternative forms of financing. It describes the theoretical elements, which are implemented in practice. It includes an analytical part of the problem, where the actual project elements are analysed, and a part of proposals, where a summary of the solutions is provided.