Scorecard models for operations management
by Paolo Giudici
International Journal of Data Science (IJDS), Vol. 1, No. 1, 2015

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.

Online publication date: Sat, 25-Apr-2015

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