The conceptualisation of operational risk management models

Operational risk is evolving as a specialist field of risk management that must be practiced within all organisations, but currently has a particular relevance to banks. The Basel Committee on Banking Supervision has circulated a consultative paper which, if adopted by nation-state bank supervisors, will impose an operational risk capital charge on banks as part of a new Capital Accord. The definition of operational risk is wide-ranging and creates some unique issues related to the development of appropriate risk management models. This paper conceptualises two distinct operational risk management models; being a predictive model that will result in a known outcome upon its implementation, and a pre-emptive operational risk management model which prepares an organisation in the event that a future risk occurrence results in a disruption to critical business operations.

Understanding requirements engineering process: a challenge for practice and education

Reviews of the state of the professional practice in Requirements Engineering (RE) stress that the RE process is both complex and hard to describe, and suggest there is a significant difference between competent and "approved" practice. "Approved" practice is reflected by (in all likelihood, in fact, has its genesis in) RE education, so that the knowledge and skills taught to students do not match the knowledge and skills required and applied by competent practitioners.

A new understanding of the RE process has emerged from our recent study. RE is revealed as inherently creative, involving cycles of building and major reconstruction of the models developed, significantly different from the systematic and smoothly incremental process generally described in the literature. The process is better characterised as highly creative, opportunistic and insight driven. This mismatch between approved and actual practice provides a challenge to RE education - RE requires insight and creativity as well as technical knowledge. Traditional learning models applied to RE focus, however, on notation and prescribed processes acquired through repetition. We argue that traditional learning models fail to support the learning required for RE and propose both a new model based on cognitive flexibility and a framework for RE education to support this model.

Decision making effectiveness in wildfire incident management teams

During large scale wildfires, suppression activities are carried out under the direction of an Incident Management Team (IMT). The aim of the research was to increase understanding of decision processes potentially related to IMT effectiveness. An IMT comprises four major functions: Command, Operations, Planning, and Logistics. Four methodologies were used to study IMT processes: computer simulation experiments; analyses of wildfire reports; interviews with IMT members; and cognitive ethnographic studies of IMTs. Three processes were important determinants of IMT effectiveness: information management and cognitive overload; matching component function goals to overall goals; and team metacognition to detect and counter task-disruptive developments. These processes appear to be complex multi-person analogues of individual Incident Command processes identified previously. The findings have implications for issues such as: creating IMTs; training IMTs; managing IMTs; and providing decision support to IMTs.

An agent-based intelligent system for information gathering from world wide web environment

To use the vast amount of information efficiently and effectively from Web sites is very important for making informed decisions. There are, however, still many problems that need to be overcome in the information gathering research arena to enable the delivery of relevant information required by users. In this paper, an information gathering system is develop by means of multiple agents to solve those problems. We employed some ideas of Gaia's methodology and an open agent architecture to analyze and design the system. The system consists of a query preprocessing agent, information retrieval agent, information filtering agent, and information management agent. The filtering agent is trained with categorized documents and can provide users with the necessary information. The experimental results show that all agents in the system can work cooperatively to retrieve relevant information from the World Wide Web environment.

The conceptualisation of operational risk management models

Operational risk is evolving as a specialist field of risk management that must be practiced within all organisations, but currently has a particular relevance to banks. The Basel Committee on Banking Supervision has circulated a consultative paper which, if adopted by nation-state bank supervisors, will impose an operational risk capital charge on banks as part of a new Capital Accord. The definition of operational risk is wide-ranging and creates some unique issues related to the development of appropriate risk management models. This paper conceptualises two distinct operational risk management models; being a predictive model that will result in a known outcome upon its implementation, and a pre-emptive operational risk management model which prepares an organisation in the event that a future risk occurrence results in a disruption to critical business operations.

Information systems and healthcare XXVIII : the information needs of family carers in collaborative healthcare

While the important role of family carers has been increasingly recognized in healthcare service provision, particularly for patients with acute or chronic illnesses, the family carer's information needs have not been well understood or adequately supported by health information systems. In this study, we explore the information needs of a family carer by analyzing the extensive online diary of a Vietnamese family carer supporting his wife, who was a lung cancer patient. The study provides a deep understanding of the information needs of the family carer and suggests a four-stage information journey model including identification, searching, interpretation and information sharing, and collaboration. A number of themes emerge from the study including the key role of the carer, information filtering by the carer, information sharing and collaboration, and the influence of Vietnamese culture. The paper concludes with a discussion of the requirements for health information systems that meet the needs of family carers.

Building information modelling project decision support framework

Building Information Modelling (BIM) is an information technology [IT] enabled approach to managing design data in the AEC/FM (Architecture, Engineering and Construction/ Facilities Management) industry. BIM enables improved interdisciplinary collaboration across distributed teams, intelligent documentation and information retrieval, greater consistency in building data, better conflict detection and enhanced facilities management. Despite the apparent benefits the adoption of BIM in practice has been slow. Workshops with industry focus groups were conducted to identify the industry needs, concerns and expectations from participants who had implemented BIM or were BIM “ready”. Factors inhibiting BIM adoption include lack of training, low business incentives, perception of lack of rewards, technological concerns, industry fragmentation related to uneven ICT adoption practices, contractual matters and resistance to changing current work practice. Successful BIM usage depends on collective adoption of BIM across the different disciplines and support by the client. The relationship of current work practices to future BIM scenarios was identified as an important strategy as the participants believed that BIM cannot be efficiently used with traditional practices and methods. The key to successful implementation is to explore the extent to which current work practices must change. Currently there is a perception that all work practices and processes must adopt and change for effective usage of BIM. It is acknowledged that new roles and responsibilities are emerging and that different parties will lead BIM on different projects. A contingency based approach to the problem of implementation was taken which relies upon integration of BIM project champion, procurement strategy, team capability analysis, commercial software availability/applicability and phase decision making and event analysis. Organizations need to understand: (a) their own work processes and requirements; (b) the range of BIM applications available in the market and their capabilities (c) the potential benefits of different BIM applications and their roles in different phases of the project lifecycle, and (d) collective supply chain adoption capabilities. A framework is proposed to support organizations selection of BIM usage strategies that meet their project requirements. Case studies are being conducted to develop the framework. The results of the preliminary design management case study is presented for contractor led BIM specific to the design and construct procurement strategy.

Modeling intelligent agents for web-based information gathering

The recent emergence of intelligent agent technology and advances in information gathering have been the important steps forward in efficiently managing and using the vast amount of information now available on the Web to make informed decisions. There are, however, still many problems that need to be overcome in the information gathering research arena to enable the delivery of relevant information required by end users. Good decisions cannot be made without sufficient, timely, and correct information. Traditionally it is said that knowledge is power, however, nowadays sufficient, timely, and correct information is power. So gathering relevant information to meet user information needs is the crucial step for making good decisions. The ideal goal of information gathering is to obtain only the information that users need (no more and no less). However, the volume of information available, diversity formats of information, uncertainties of information, and distributed locations of information (e.g. World Wide Web) hinder the process of gathering the right information to meet the user needs. Specifically, two fundamental issues in regard to efficiency of information gathering are mismatch and overload. The mismatch means some information that meets user needs has not been gathered (or missed out), whereas, the overload means some gathered information is not what users need. Traditional information retrieval has been developed well in the past twenty years. The introduction of the Web has changed people's perceptions of information retrieval. Usually, the task of information retrieval is considered to have the function of leading the user to those documents that are relevant to his/her information needs. The similar function in information retrieval is to filter out the irrelevant documents (or called information filtering). Research into traditional information retrieval has provided many retrieval models and techniques to represent documents and queries. Nowadays, information is becoming highly distributed, and increasingly difficult to gather. On the other hand, people have found a lot of uncertainties that are contained in the user information needs. These motivate the need for research in agent-based information gathering. Agent-based information systems arise at this moment. In these kinds of systems, intelligent agents will get commitments from their users and act on the users behalf to gather the required information. They can easily retrieve the relevant information from highly distributed uncertain environments because of their merits of intelligent, autonomy and distribution. The current research for agent-based information gathering systems is divided into single agent gathering systems, and multi-agent gathering systems. In both research areas, there are still open problems to be solved so that agent-based information gathering systems can retrieve the uncertain information more effectively from the highly distributed environments. The aim of this thesis is to research the theoretical framework for intelligent agents to gather information from the Web. This research integrates the areas of information retrieval and intelligent agents. The specific research areas in this thesis are the development of an information filtering model for single agent systems, and the development of a dynamic belief model for information fusion for multi-agent systems. The research results are also supported by the construction of real information gathering agents (e.g., Job Agent) for the Internet to help users to gather useful information stored in Web sites. In such a framework, information gathering agents have abilities to describe (or learn) the user information needs, and act like users to retrieve, filter, and/or fuse the information. A rough set based information filtering model is developed to address the problem of overload. The new approach allows users to describe their information needs on user concept spaces rather than on document spaces, and it views a user information need as a rough set over the document space. The rough set decision theory is used to classify new documents into three regions: positive region, boundary region, and negative region. Two experiments are presented to verify this model, and it shows that the rough set based model provides an efficient approach to the overload problem. In this research, a dynamic belief model for information fusion in multi-agent environments is also developed. This model has a polynomial time complexity, and it has been proven that the fusion results are belief (mass) functions. By using this model, a collection fusion algorithm for information gathering agents is presented. The difficult problem for this research is the case where collections may be used by more than one agent. This algorithm, however, uses the technique of cooperation between agents, and provides a solution for this difficult problem in distributed information retrieval systems. This thesis presents the solutions to the theoretical problems in agent-based information gathering systems, including information filtering models, agent belief modeling, and collection fusions. It also presents solutions to some of the technical problems in agent-based information systems, such as document classification, the architecture for agent-based information gathering systems, and the decision in multiple agent environments. Such kinds of information gathering agents will gather relevant information from highly distributed uncertain environments.

Performing arts management in a climate of adjustment : case studies from Vietnam and Australia

This paper presents a series of empirical case studies to discuss impacts of economic globalisation on the development of performing arts organisations in Vietnam (Hanoi Youth Theatre and Vietnam National Symphony Orchestra) and Australia (Melbourne Theatre Company and Sydney Symphony Orchestra), and focuses on how Vietnamese organisations have adapted to these changes. The paper also identifies cultural policy implications for the development of the sector; for arts management training in Vietnam so that the sector (and more importantly, the artists) may fully benefit from the open market context. The findings indicate that Vietnamese performing arts organisations have attempted to adapt to the new market context while struggling to balance artistic quality, freedom and financial viability in the new socialist regime. The Australian case studies offered a relevant management model to Vietnamese arts management practice and training.

An integrated observation network for the Gippsland Lakes, Victoria, Australia : balancing the needs of science and management

The Gippsland Lakes region in eastern Victoria is a partially flushed coastal lake system within a diverse catchment of rural and urban communities. Pressure from lakeside developments, re-occurring blue-green algal blooms, declining fisheries, sedimentation and infilling of the ocean entrance, has borne several decades of focussed studies and routine monitoring programs, along with a variety of engineering and management solutions. A recent review recommended that these disparate studies should be enhanced to formulate a coordinated monitoring network that could improve both spatial and temporal coverage, develop a capacity to trigger responsive investigations and was able to serve the needs of system management. Through a series of partnerships an integrated network was developed that comprises event and baseline monitoring of catchment loads, local meteorological forcing and an array of water quality sampling sites within the lakes system. A majority of these sites are incorporated with real-time telemetry that provides up to the minute information to stakeholders via a web-based information management system and vital operational status to technical system management.

Information provenance for open distributed collaborative system

In autonomously managed distributed systems for collaboration, provenance can facilitate reuse of information that are interchanged, repetition of successful experiments, or to provide evidence for trust mechanisms that certain information existed at a certain period during collaboration. In this paper, we propose domain independent information provenance architecture for open collaborative distributed systems. The proposed system uses XML for interchanging information and RDF to track information provenance. The use of XML and RDF also ensures that information is universally acceptable even among heterogeneous nodes. Our proposed information provenance model can work on any operating systems or workflows.

The application of electronic commerce and information integration in the construction industry

Many parties involved in the construction industry have convinced the importance of electronic commerce (EC) for improving business processes, cutting cost, and providing comprehensive information. However, currently the application of EC is relatively limited and ineffective. These systems are always non-interoperable which creates problems for the stakeholders in construction projects. This paper aims to analyze the E-commerce application system and develop a system for the parties to collaborate and share information effectively. In this paper, four information flats are summarized based on the literature survey and field investigation, and the information integration model for EC is built up using IFC and XML. It should provide a useful reference for China to promote the development of EC in the construction industry.

The decomposition of housing market variations : a panel data approach

Purpose – This paper develops a new decomposition method of the housing market variations to analyse the housing dynamics of the Australian eight capital cities.
Design/methodology/approach – This study reviews the prior research on analysing the housing market variations and classifies the previous methods into four main models. Based on this, the study develops a new decomposition of the variations, which is made up of regional information, homemarket information and time information. The panel data regression method, unit root test and F test are adopted to construct the model and interpret the housing market variations of the Australian capital cities.
Findings – This paper suggests that the Australian home-market information has the same elasticity to the housing market variations across cities and time. In contrast, the elasticities of the regional information are distinguished. However, similarities exit in the west and north of Australia or the south and east of Australia. The time information contributes differently along the observing period, although the similarities are found in certain periods.
Originality/value – This paper introduces the housing market variation decomposition into the research of housing market variations and develops a model based on the new method of the housing market variation decomposition.

Efficient Coxian duration modelling for activity recognition in smart environment with the hidden semi-Markov model

In this paper, we exploit the discrete Coxian distribution and propose a novel form of stochastic model, termed as the Coxian hidden semi-Makov model (Cox-HSMM), and apply it to the task of recognising activities of daily living (ADLs) in a smart house environment. The use of the Coxian has several advantages over traditional parameterization (e.g. multinomial or continuous distributions) including the low number of free parameters needed, its computational efficiency, and the existing of closed-form solution. To further enrich the model in real-world applications, we also address the problem of handling missing observation for the proposed Cox-HSMM. In the domain of ADLs, we emphasize the importance of the duration information and model it via the Cox-HSMM. Our experimental results have shown the superiority of the Cox-HSMM in all cases when compared with the standard HMM. Our results have further shown that outstanding recognition accuracy can be achieved with relatively low number of phases required in the Coxian, thus making the Cox-HSMM particularly suitable in recognizing ADLs whose movement trajectories are typically very long in nature.