Towards a Risk Assessment and Evaluation Model for Economic Intelligent Systems

Abstract : Effective risk management process is an important component for any would be successful information systems. Its importance in Economic intelligence, which encompasses the duo of information systems and decision-making, present another dimension into the view of risk management. While there exist several stages in the development of risk management strategies, the composition of each of these stages determines the effectiveness of the strategy or otherwise. Most of the existing risk management techniques only consider the effect of the pair of threat and vulnerability in determining the effect and weight associated with particular risks. Hence an indication of the recovery time in the event of the unexpected, contingency planning notwithstanding, are not usually considered. We present an extended model for risk determination taking into consideration the time taken to recover from the effect of the success of the threat/vulnerability pair