Akpolat, Hasan
Bina Nusantara University

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How Can Every Organization Manage the Operational Risk? Jie, Ferry; Akpolat, Hasan; Sharma, Deepak; Irish, James
Journal the Winners: Economics, Business, Management, and Information System Journal Vol 3, No 1 (2002): The Winners Vol. 3 No. 1 2002
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/tw.v3i1.3836

Abstract

This article describe how every organization (generally) and Australian Organizations (specifically) can manage the operational risks.  Recently, the operational risks are the significant issues in every organization because every organization will suffer from poor operational performance due to risks, failure, and problems such as a number of losses which are likely to be made worse. Basically, the operational risk management process has five steps, identification, analysis, treatment, controlling, and communication/consulting. Generally, many organizations (in particularly in Australia and New Zealand) have already used AS/NZS 4360-Risk Management System, AS/NZS 4801-Occupational Health and Safety Management System, ISO 14001: Effective Environmental Management System, ISO 9001: Quality Management System, AS/NZS 7799: Information Security Management, AS/NZS 3806: Compliance Management System for reducing/mitigating/managing the operational risks. Based on the SAI Certification Register, the number of Australian Organizations got the AS/NZS ISO 9000 series, AS/NZS 14000 series, AS/NZS 4801 and AS/NZS 7799.2:2000 Certifications are 3338, 30, 20 and 5 respectively. It can conclude that Australian Organizations prefer used AS/NZS ISO 9000 series rather than AS/NZS ISO 14000 series, AS/NZS 4801 and AS/NZS 7799.2:2000.
Analysis of Advantages and Disadvantages of Current Operational Risk Management Models (AS/NZS 4360, AS/NZS ISO 9000, AS/NZS ISO 14000, AS/NZS 4801, AS/NZS 3806, AS/NZS 4444) Jie, Ferry; Akpolat, Hasan; Sharma, Deepak; Irish, James
Journal the Winners: Economics, Business, Management, and Information System Journal Vol 3, No 2 (2002): The Winners Vol. 3 No. 2 2002
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/tw.v3i2.3852

Abstract

This paper will describe about the analysis of advantages and disadvantages of current operational risk management models (AS/NZS 4360: Risk Management, AS/NZS 4801: Occupational Health and Safety Management Systems, AS/NZS ISO 9001: Quality Management System, AS/NZS ISO 14001: Environment Management System, AS/NZS 3806: Compliance Management System, AS/NZS 4444: Information Security Management)  based on expert experiences and extracting the literature review. The advantages of most current models are widely adopted by industries of various of sizes as the basis for their operational risk management. In addition, they may help the organizations to improve the operations and competitiveness. However, there are some disadvantages of most current models such as the models are very general (guidance only), not specific to cover particular risks of industries.  And they don’t have the specific tools and processes.  In addition, they may not be able to integrate all elements of the management systems such as safety, health, environment, quality, security, and compliance.Â