Methodology of monitoring key risk indicators

Bojan Peček and Andrej Kovačič

Economic Research-Ekonomska Istraživanja, 2019, vol. 32, issue 1, 3485-3501

Abstract: Like in many preventive activities, the effectiveness of a risk policy is hard to measure. The objective of this article is to represent the methodology of monitoring a risk management policy. We use the Markov chain methodology for the calculation of the key risk indicators (K.R.I.s) of the process. Observing them through time, it is possible to conclude the positive attitude of the risk-preventing measures undertaken on the observed process. The methodology is represented in the case of archaeological excavations.

Date: 2019
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DOI: 10.1080/1331677X.2019.1658529

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