Scorecard models for operations management

Paolo Giudici

International Journal of Data Science, 2015, vol. 1, issue 1, 96-101

Abstract: In this paper, we propose two effective methods to prioritise controls on operations management on the basis of their operational risk. The methods are based on the combination of a sound statistical methodology and an easy to communicate scorecard reporting format. The first method summarises the content of operational self-assessment questionnaires using the idea of a 'Gini rating', thereby producing a simple read ordering of operations performance. The second method introduces a simple non-parametric Bayesian model, able to integrate questionnaire data with observed loss data, thereby producing a combined measure of risk, on which to base capital coverage.

Keywords: Bayesian models; Gini rating; operational risk; scorecard models; integrated scorecard models; operations management; self-assessment questionnaires; modelling; loss data; risk measures; capital coverage; operational risk indicators; risk management. (search for similar items in EconPapers)
Date: 2015
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