Measures of Residual Risk with Connections to Regression, Risk Tracking, Surrogate Models, and Ambiguity

2015 ◽  
Vol 25 (2) ◽  
pp. 1179-1208 ◽  
Author(s):  
R. Tyrrell Rockafellar ◽  
Johannes O. Royset
Keyword(s):  
Surrogate Models ◽  
Residual Risk

Risk Assessment of Core Banking System Replacement based on ISACA Framework

2014 ◽  
Vol 1 (1) ◽  
pp. 35-45
Author(s):  
Fenty Simanjuntak ◽  
Bobby Suryajaya
Keyword(s):  
Risk Assessment ◽  
Banking System ◽  
Residual Risk ◽  
Project Teams ◽  
Third Party ◽  
Project Delivery ◽  
Business Growth ◽  
Regulatory Requirements ◽  
The Core ◽  
Medium Risk

Many banks are looking for a better core banking system to support their business growth with a more efficient and flexible core banking system to improve their sales and services in the competitive market and to fulfill regulatory requirements. The decision of replacing the legacy core banking system is difficult due to the high IT investment cost required for banks because they are also trying to cut costs. But maintaining the legacy system is costly in terms of upgrade. Changing the core banking system is also a difficult process and increases risks. To have a successful Core Banking System implementation, risk assessment is required to be performed prior to starting any activities. The assessment can help project teams to identify the risks and then to mitigate the risks as part of the plan. In this research the Core Banking System replacement risks were assessed based on ISACA Framework for IT Risk. Fourteen risk scenarios related to Core Banking System Replacement were identified. The high and medium rated inherent risks can become medium and low residual risk after assessment by putting the relevant control in place. The result proves that by adding mitigation plan it will help to mitigate the Residual Risk to become low risk. There are still three residual risk which categorized as medium risk and should be further mitigated they are Software Implementation, Project Delivery and Selection/Performance of Third Party Suppliers. It is also found that COBIT 5 has considered some specific process capabilities that can be used to improve the processes to mitigate the medium risks.

GEOMETRY OPTIMIZATION OF AIR-ASSISTED SWIRL NOZZLE BASED ON SURROGATE MODELS AND COMPUTATIONAL FLUID DYNAMICS

2019 ◽  
Vol 29 (7) ◽  
pp. 605-628
Author(s):  
Zongli Yi ◽  
Li Hou ◽  
Qi Zhang ◽  
Yousheng Wang ◽  
Yunxia You
Keyword(s):  
Fluid Dynamics ◽  
Computational Fluid Dynamics ◽  
Geometry Optimization ◽  
Surrogate Models

Applied Process Simulation-Driven Oil and Gas Separation Plant Optimization using Surrogate Modeling and Evolutionary Algorithms

2019 ◽  
Author(s):  
Anders Andreasen
Keyword(s):  
Evolutionary Algorithms ◽  
Gas Separation ◽  
Oil And Gas ◽  
Optimal Solution ◽  
Computer Experiment ◽  
Latin Hypercube Sampling ◽  
Surrogate Models ◽  
Inlet Temperature ◽  
Separation Plant ◽  
Separation Stage

In this article the optimization of a realistic oil and gas separation plant has been studied. Two different fluids are investigated and compared in terms of the optimization potential. Using Design of Computer Experiment (DACE) via Latin Hypercube Sampling (LHS) and rigorous process simulations, surrogate models using Kriging have been established for selected model responses. The surrogate models are used in combination with a variety of different evolutionary algorithms for optimizing the operating profit, mainly by maximizing the recoverable oil production. A total of 10 variables representing pressure and temperature various key places in the separation plant are optimized to maximize the operational profit. The optimization is bounded in the variables and a constraint function is included to ensure that the optimal solution allows export of oil with an RVP < 12 psia. The main finding is that, while a high pressure is preferred in the first separation stage, apparently a single optimal setting for the pressure in downstream separators does not appear to exist. In the second stage separator apparently two different, yet equally optimal, settings are revealed. In the third and final separation stage a correlation between the separator pressure and the applied inlet temperature exists, where different combinations of pressure and temperature yields equally optimal results.<br>

Cholesterol Lowering Therapy: Treat to Target or Reduce the Global Risk? The Unresolved Problem of Residual Risk

2016 ◽  
Vol 22 (37) ◽  
pp. 5676-5686 ◽  
Author(s):  
Giulia Bruzzone ◽  
Giorgia Corbelli ◽  
Paola Belci ◽  
Annalaura Cremonini ◽  
Aldo Pende ◽  
...  
Keyword(s):  
Residual Risk ◽  
Treat To Target ◽  
Global Risk ◽  
Cholesterol Lowering ◽  
Unresolved Problem ◽  
Lowering Therapy

Vascular Remodelling in Well-controlled Hypertensive Patients: The Challenge of Residual Risk Management

2017 ◽  
Vol 23 (10) ◽  
pp. 1445-1452 ◽  
Author(s):  
Massimo Puato ◽  
Chiara Nardin ◽  
Marta Zanon ◽  
Paolo Palatini ◽  
Paolo Pauletto ◽  
...  
Keyword(s):  
Risk Management ◽  
Residual Risk ◽  
Vascular Remodelling ◽  
Hypertensive Patients
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