Qualitative operational risk software -development of a software tool for determining the root of operational risk

Peña Torres, Dionicio and Rodríguez Monroy, Carlos and Solana Perez, Pablo and Hierro Marqués, José del (2012). Qualitative operational risk software -development of a software tool for determining the root of operational risk. In: "15th International Conference on Quality and Service Sciences", 05/09/2012 - 07/09/2012, Poznan, Polonia. pp. 1174-1101.

Description

Title: Qualitative operational risk software -development of a software tool for determining the root of operational risk
Author/s:
  • Peña Torres, Dionicio
  • Rodríguez Monroy, Carlos
  • Solana Perez, Pablo
  • Hierro Marqués, José del
Item Type: Presentation at Congress or Conference (Article)
Event Title: 15th International Conference on Quality and Service Sciences
Event Dates: 05/09/2012 - 07/09/2012
Event Location: Poznan, Polonia
Title of Book: 15th International Conference on Quality and Service Sciences
Date: 2012
Subjects:
Freetext Keywords: Operational risks, Value at risk, Software tool
Faculty: E.T.S.I. Industriales (UPM)
Department: Ingeniería de Organización, Administración de Empresas y Estadística
Creative Commons Licenses: Recognition - No derivative works - Non commercial

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Abstract

This article shows software that allows determining the statistical behavior of qualitative data originating surveys previously transformed with a Likert’s scale to quantitative data. The main intention is offer to users a useful tool to know statistics' characteristics and forecasts of financial risks in a fast and simple way. Additionally,this paper presents the definition of operational risk. On the other hand, the article explains different techniques to do surveys with a Likert’s scale (Avila, 2008) to know expert’s opinion with the transformation of qualitative data to quantitative data. In addition, this paper will show how is very easy to distinguish an expert’s opinion related to risk, but when users have a lot of surveys and matrices is very difficult to obtain results because is necessary to compare common data. On the other hand, statistical value representative must be extracted from common data to get weight of each risk. In the end, this article exposes the development of “Qualitative Operational Risk Software” or QORS by its acronym, which has been designed to determine the root of risks in organizations and its value at operational risk OpVaR (Jorion, 2008; Chernobai et al, 2008) when input data comes from expert’s opinion and their associated matrices.

More information

Item ID: 20648
DC Identifier: http://oa.upm.es/20648/
OAI Identifier: oai:oa.upm.es:20648
Deposited by: Memoria Investigacion
Deposited on: 26 Feb 2014 19:19
Last Modified: 21 Apr 2016 23:28
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