METHOD AND SYSTEM FOR EVALUATING RISK MITIGATION PLAN ALTERNATIVES

摘要

The present invention provides a method, system and computer program product for evaluating risk mitigation plan alternatives, to manage the risks related to a business process. A criteria model is defined, including one or more criteria against which the risk mitigation plan alternatives are evaluated. Weights are also assigned to the criteria. One or more risk assessors assign scores to the risk mitigation plan alternatives with reference to the criteria model, based on a predefined scale. Thereafter, the utility values of the risk mitigation plan alternatives are calculated, based on the weight and a probability assigned by a risk assessor, wherein the probability is a measure of the uncertainty in the score assigned to the criteria. The risk mitigation plan alternatives are evaluated, based on the utility values, and accordingly, an optimal risk-mitigation plan may be selected.