Method and system for risk control optimization

Details Method and system for risk control optimization Method and system for risk control optimization

2005-04-05

2005-04-05

Starks, Jr., Wilbert L. (Department: 2121)

Data processing: artificial intelligence

Knowledge processing system

Knowledge representation and reasoning technique

C703S002000

Reexamination Certificate

active

06876992

ABSTRACT:
A method and system for selecting an optimal set of management and risk controls for a given set of risks within a variable control budget. Specifically, optimization according to the present invention is defined using a method and system to calculate the greatest reduction in an organization's risk exposure with the minimum investment in cost and time as measured by the economic value added of the risk system change. Risk control models and management risk control models are client customized into a risk control system specifically addressing a clients applicable risks and their associated exposures. An operator is able to determine which risk control system maximizes available resources while also reducing an organization's total risk exposure.

REFERENCES:
patent: 5553407 (1996-09-01), Stump
patent: 5615109 (1997-03-01), Eder
patent: 5832456 (1998-11-01), Fox et al.
patent: 6473084 (2002-10-01), Phillips et al.
patent: 6477520 (2002-11-01), Malaviya et al.
patent: 6578068 (2003-06-01), Bowman-Amuah
patent: 6606615 (2003-08-01), Jennings et al.
patent: 6792399 (2004-09-01), Phillips et al.

Affiliated with

Also associated with

Rating

Method and system for risk control optimization does not yet have a rating. At this time, there are no reviews or comments for this patent.

If you have personal experience with Method and system for risk control optimization, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Method and system for risk control optimization will most certainly appreciate the feedback.

Rate now

Comments { 0 }

Profile ID: LFUS-PAI-O-3398760