Year: 2008
Type: dissertation
Abstract: In today’s business environment, increased competition, market globalisation, \nincreased customer demands and accelerated technologies require organisations to \nfocus on efficiency in every aspect of their operations. Many studies in operations \nmanagement have focused on the improvement of operational performance, including \nreduction of process variability, increasing flexibility or implementing controls in \noperations. However, managing the risk in operations seems to have been neglected \nby researchers. \n \nHence, there are two major objectives of this study. The first objective is to \ninvestigate the use of the operational risk management (ORM) systems in Australia \nand study the factors that have an impact on effective operational risk management. \nThen, based on the identified factors, the second objective is to develop an ORM \nsystem implementation model and guideline for Australian organisations. \n \nA review of the ORM systems and its implementation was conducted. As a result of \nthis investigation, a definition of ORM system in this study was formulated and the \nfactors of effective ORM system implementation were identified as a basis for the \nnext stage of this study. \n \nAn investigation of the factors of ORM system implementation was then carried out. \nAn extensive questionnaire survey was used to collect empirical data from Australian \norganisations. Statistical analysis results and feedback from experts was used to \ndevelop an applicable model and guideline for ORM system implementation. \n \nThe main outcome of this study is a proposed model and guideline for ORM system \nimplementation in Australian organisations, which will assist the organisation to \nmanage operational risks more effectively and provide motivation for carrying out \nfurther research in ORM.
Author: Thitima Pitinanondha
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W1601160779