University of Twente Student Theses


Design and implementation of velocity in risk assessment with enterprise architecture modeling

Savitri, Dea Amelia (2023) Design and implementation of velocity in risk assessment with enterprise architecture modeling.

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Abstract:Risk and uncertainty are typically assessed based on the variables of impact and likelihood. However, high-impact, low-likelihood events, such as the COVID-19 pandemic, often lead to oversight of such risks. To address this, the concept of risk velocity, which had been mentioned as early as 2017, has gained renewed attention. Despite its significance, academic research on risk velocity remains limited. In light of this, using a case study approach, the current study applies the Design Science Research Methodology (DSRM) by Wieringa to investigate the implementation of risk velocity within a hospital setting in the Netherlands. This study proposes a solution in the form of a comprehensive guideline comprising two primary process frameworks: a single-use process framework and an annual & ad hoc process framework. The effectiveness of the proposed guidelines has been validated through structured interviews, demonstrating their usefulness not only for hospitals in the Netherlands but also for other businesses worldwide that possess dedicated risk management departments and embrace a mathematical-based risk culture and calculation approach. These organizations can adopt the proposed guidance to incorporate risk velocity into their risk assessment processes. The application of ArchiMate, a visualization tool, plays a crucial role in the proposed guidelines. ArchiMate visualizes the organization's main, supporting, and management processes. Additionally, it is utilized to depict the relationship between the timeline of guideline implementation and the guideline processes themselves. This comprehensive approach enhances the understanding and implementation of risk velocity within the risk assessment process, facilitating effective risk management practices. Overall, this research contributes to filling the gap in academic research on risk velocity, providing a practical and applicable solution in the form of a guideline that can be implemented by organizations, particularly those with a specialized risk management department and a strong emphasis on mathematical-based risk analysis and culture.
Item Type:Essay (Master)
KPMG, Zwolle, Netherlands
Faculty:EEMCS: Electrical Engineering, Mathematics and Computer Science
Subject:01 general works, 50 technical science in general, 85 business administration, organizational science
Programme:Business Information Technology MSc (60025)
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