Title: Information Technology risk management in e-commerce: classical and catastrophic risk approaches

Authors: Alexandros Pappas, Panagiotis Panagiotopoulos

Addresses: Department of Informatics, University of Piraeus, 80 Karaoli and Dimitriou St., 18534 Piraeus, Greece. ' School of Electrical and Computer Engineering, National Technical University of Athens, 9 Iroon Polytechniou St., 15773 Athens, Greece

Abstract: In the emerging global economy, e-commerce has increasingly become a strong catalyst for economic development. However, the furious pace of technological change, along with the ever increasing utilisation of critical IT assets, has also increased exposure to IT related risks. Consequently, IT risk management has become a critical part of the operation of an e-commerce organisation. The paper presents an IT risk management lifecycle for e-commerce organisations; among other suggestions, we also propose a methodology for the assessment of IT risks, which handles conditions of uncertainty, by employing both quantitative and qualitative methods, along with the execution of simulations.

Keywords: information technology; IT risk management; e-commerce; risk assessment; uncertainty; electronic commerce.

DOI: 10.1504/IJASS.2009.027663

International Journal of Applied Systemic Studies, 2009 Vol.2 No.3, pp.250 - 264

Received: 13 Oct 2007
Accepted: 16 Jun 2008

Published online: 06 Aug 2009 *

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