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Title: Hybrid risk management methodology : a case study
Authors: Ting, SL
Kwok, SK
Tsang, HC
Keywords: Business recovery planning
Case study
Enterprise risk management
Hierarchical holographic modeling
Issue Date: 2009
Publisher: SAGE Publications
Source: International journal of engineering business management, 2009, v. 1, no. 1, p. 25-32 How to cite?
Journal: International journal of engineering business management 
Abstract: Risk management is a decision-making process involving considerations of political, social, economic and engineering factors with relevant risk assessments relating to a potential hazard. In the last decade, a number of risk management tools are introduced and employed to manage and minimize the uncertainty and threats realization to the organizations. However, the focus of these methodologies are different; in which companies need to adopt various risk management principles to visualize a full picture of the organizational risk level. Regarding to this, this paper presents a new approach of risk management that integrates Hierarchical Holographic Modeling (HHM), Enterprise Risk Management (ERM) and Business Recovery Planning (BCP) for identifying and assessing risks as well as managing the consequences of realized residual risks. To illustrate the procedures of the proposed methodology, a logistic company ABC Limited is chosen to serve as a case study Through applying HHM and ERM to investigate and assess the risk, ABC Limited can be better evaluated the potential risks and then took the responsive actions (e.g. BCP) to handle the risks and crisis in near future.
EISSN: 1847-9790
DOI: 10.5772/6783
Rights: This work is licensed under the terms of the Creative Commons Attribution 3.0 Unported License (
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