Literature Review on Risk Management

Literature Review on Risk Management Software Project Management (CI6113) Title: Reviewing the Past Research Papers on Risk Management Abstract Risk Management is nowadays the important research topic in the many critical business areas and industrial areas. Project teams do not achieve their projects goals of reducing cost and gaining much profit without assessing risks and managing risks. This term paper analyzes research papers done by many researches in the field of the Risk Management within 2000 and 2007 and describes the results of the analysis of those research papers. Our goal of this paper is to inference and to justify the trend of the Risk management in research areas and business areas. There are many topics in the Risk Management such as Risk Analysis, Risk Assessment, Risk Control and others. This paper’s analysis path is starting from the project risk identification and end with the risk control topic. This paper provides the results what the gaps between researches are. Furthermore, this paper learns briefly what the problems and trends before year 2000 are. Introduction This paper examines the results of the past research papers published from 2000 through 2007. We focus on Risk Management and their related topics. In addition, we also examine the trends of the Risk Management within this period. We analyze which topic had been researched most in a particular year and which methods were used in that year. This paper learns publications issued by year by year and group them in each year. In addition, we analyze the topics which are relating to the specified topic. We found trends of the research in a year while we were learning them. According to the past results came from publications, we can make sense of mind for future of the Risk Management. This paper examines the situation which can become in future according to the study. Background Many project managers and strategic management are concerning about risks in long term strategic basic. So, we need to learn the risks. Risk is the uncertainty in the life cycle of the project. In 2003, Webster’s New Explorer College Dictionary defines the risk as â€Å"the possibility of danger and sufferance of harm or injury†. Risk cannot be seen without any emphasize upon it. In addition, risks can also give hopes to the successful project. So, if risks which cannot be seen before could be found and assessed then the proposed project will be successful. But risks found and assessed can never be avoided. It can be reduced by using the some techniques or adjustments. Some risks can be ignored without any executing. Risk may terrify to some persons related to the project because if it could not be uncovered, the team may incompetent in managing the project. According to the problems, risk management was critical issue of the project management. Researchers were doing researches to reduce and manage the risks which can be encountered in a project. People in the business areas were also finding the ways how to ignore the encountered risks. Some are finding how to control the risks. In addition, they were finding what risks can violate the project management unless they did not control the risks encountered. A risk which encounters in a year is not the same as the problem in another year. Because of the nature of project which depends on the World’s business. As changing the nature of the business, the nature of the risks is becoming change. Furthermore, research area is also changing according to the nature of the risk. So, the research trend for a year may not same as the trend of another year. To learn the research trend turmoil, we need to learn publications issued from 2000 through 2007. The next section will explain the importance of our paper. Situation of the paper There are many researches for the project management. Past research (Timothy Warrren, 2002) had done a research for the whole project management. It covered research published in English from 1960 through 1999. This paper covered within the period of 2000 and 2007 learned the topics of the risk management. We separated the research areas according to the Project Management Body of Knowledge (PMBOK). These are Risk Identification and Assessment, Risk Qualification, Risk Response Development and Risk Control. Objectives of the paper The objective of this paper is to learn the trend of the Risk Management in past research publication. We restricted the period to be learned for each topic. This paper is intended to learn that how the risks emerged during the project time, is handled using which tools and methods. This paper intended to find the gaps between researches in each year and whole period of year 2000 and 2007. The paper learned only risk management out of topics of project management for the period. So, the other topics can be learned like our paper. These are Communication, Cost, Procurement, Human Resource, Outsourcing, Integration, Quality, Scope and Time Management. Literature review In this era, many companies conduct a great portion of their jobs in project form. Traditionally projects were mainly found in the construction industry and sections of the military, but the competitiveness of the markets of today with fast-changing technology encourages almost all companies to adopt project management (Burke 2003). Project management is the application of knowledge, skill, tools and techniques to project activities to meet project requirement. Project management is accomplished through the use of the processes such as: initiating, planning, executing, controlling, and closing (PMBOK guide 2000). Because of global economical pressures, turbulence in the corporate environment and market forces leading to the increasing demands and tougher competition projects have to be implemented at lesser time, cost and with better functionalities. This causes growing demands on the management’s ability to forecast and react to unforeseeable events- risks. Risk is an abstract concept whose measurement is very difficult (Raftery, 1994). The Oxford Advanced Learner’s Dictionary – 5th Edition defines risk as â€Å"The possibility or chance of meeting danger, suffering loss or injury†. The British Standard BS 4778 defines risk as â€Å"A combination of the probability, or frequency, of occurrence of a defined hazard and the magnitude of the consequences of the occurrence†. Risk may be expressed in a mathematical form as follows: Risk = (Probability of the occurrence of a defined event) x (Consequences of the occurrence of that event) Therefore, risk management is nowadays a critical factor to successful project management. Overview of Risk Management Project risk management is the art and science of identifying, analyzing, and responding to risk throughout the life of a project and in the best interests of meeting project objectives. (Schwalbe, 2006) Risk management has been practiced informally by everyone, with or without conscious of it, since the dawn of time. Modern risk management, which had become a widely accepted management function during the period from 1955-1964 (Snider, 1991) has its roots in insurance to which it has been closely aligned for more than three centuries (Ibid). The story of risk management has not all been positive and supports the argument that it is currently ineffective at managing surprise. In the 1960’s project management was under heavy criticism for project failures due to technical uncertainty, contact strategy, community opposition and project environmental impacts (Morris, 1997). A project manager may still today argue that the last two are external project factors and outside the immediate project environment under their control (Ibid) and it may be often assumed that these will be passed up the line to higher management levels (Chapman Ward, 1997). The main objectives of risk management include (Yee et al., 2001): To enable decision-making to be more systematic and less subjective. To provide an improved understanding of the risks facing a project by identifying risks and response scenarios. To assist in deciding which risks require urgent attention and which can be addressed later. To force management to realize that there are many possible outcomes for a project, and appropriate measures should be planned for any adverse consequences. Flanagan and Norman (1993) proposed a risk management framework as shown in Fig.3.1 which depicts the elements of the risk management system – risk identification, risk classification, risk analysis, risk attitude and risk response. Risk Identification Risk Classification Risk Analysis Risk Response Risk Attitude Figure 2.1 Risk management Framework (Source: Flanagan Norman, 1993) According to (PMBOK, PMI 2000) and (Schwalbe 2006), Project Risk Management has following processes Risk Management Planning Risk Identification Qualitative Risk Analysis Quantitative Risk Analysis Risk Response Planning Risk Monitoring and Control The following Fig.3.2 depicts how risk management processes involved in each of the project management process Initiation Planning Executing Controlling Closing Risk Identification Risk Identification Risk Response Control Risk Quantification Risk Response Development Fig 2.2 Risk Management Processes in each Project Management Process (Source: Dan Brandon, 2006) Risk management will not eradicate all the risks. It will enable decision to be made explicitly which will reduce the potential effect of certain risks. It will also assist in rational, defensible decisions regarding the allocation of risk among the parties to the project. Risk analysis is not a substitute for professional judgments and experience. On the other hand, it helps professionals to make use of the full extent of their experience and knowledge by liberating them from the necessity of making simplifying assumptions in order to produce deterministic plans and forecasts. Risk analysis is supplement to, not a substitute for professional judgments. Recent Approaches to Risk Management Project risk management is a topic of major current interest. It is being actively addressed by many government agencies and most of the professional project management associations around the world, and many relevant standards are extant or being developed. Some examples from the many approaches in use include: (Cooper D., Grey S., Raymond G., Walker P., 2005) Project Management Institute (PMI), USA (2003), Project Management Body of Knowledge, Chapter 11 on risk management; Association for Project Management, UK (1997), PRAM Guide; AS/NZS 4360 (2004), Risk Management, Standards Association of Australia; IEC 62198 (2001), Project Risk Management—Application Guidelines; Office of Government Commerce (OGC), UK (2002), Management of Risk; and Treasury Board of Canada (2001), Integrated Risk Management Framework We fill the research gap in risk management field from year 2000 to 2007. Methodology We conduct a quantitative bibliographic study on pass papers published from year 2000 to 2007. We collected papers and journals from electronic databases– ACM, IEEE and ProQuest. Our objective of this paper is to find the current research trend on Risk Management by analyzing and categorizing those research papers. Project Risk Management Research It is the process of finding what current researchers are emphasizing in. It includes defining the current works on project management, particularly on Risk Management articles and papers. Then make generalized conclusion based on collected and analyzed works. This conclusion or judgment is made based on project risk management processes– risk management planning, risk identification, qualitative risk analysis, quantitative risk analysis, risk response planning, risk monitoring and control (PMBOK 2000, Schwalbe 2006). Sources of data We collected articles and papers published in years 2000 to 2007 from these databases which are known to be rich information about project management. ACM Digital Library ACM digital library includes magazines, journals, transactions, publications by affiliated Organizations, SIG news letters, Conference Proceeding Series. ACM digital library provides service for individual, universities, libraries and corporations. We find that risk management is one of the research fields in many businesses and industries. ACM includes diversity of business and industrial processes which enables us to inference the future trend in different fields. IEEE Explore To support our conclusion and get strong analytical results, we also collect articles and papers from IEEE explore which has more technical articles and papers than ACM digital library. It includes 1,682,970 online documents to be referenced. ProQuest Another supporting database which we extracted articles and papers is ProQuest. That includes ABI/INFORM databases, dissertation and theses, etc. Data analysis from that database will be icy on our research cake Data selection from the databases We conduct full text search in above databases using author, title, keywords based on year. Then tasks are separated among us based on years and combined later. Papers and articles are found based on the following criteria: Keywords: Risk Management, Risk Identification, Risk Analysis, Risk Transfer, Risk Control, Risk Response Years: 2000 to 2007 Output format and research data representation Output format will be as the following: Researchers Title Database Risk Category Year Business Category Sub Category Method The papers and articles are attached in the appendix B. We classified each paper into specific risk management processes (PMBOK 2000, Schwalbe 2006). We also analyzed which business category that each paper falls into and which specific method do they use in conducting the specified risk management Process. To get the consistent taxonomy in risk management, we identified the papers and articles into the categories guided by (PMBOK 2000, Schwalbe 2006). They are: Risk Management Planning: This is how businesses and industries plan and handle for risk. Risk Identification: This is how businesses and industries emphasize on identification of risk throughout their organizational processes. Risk Analysis: This involves how organizations conduct quantitative and qualitative risk analysis based on sampling and probability/impact matrixes. Risk Response Planning: This shows how organizations develop risk response strategies like how to avoid, how to have tolerance, how to mitigate risk, how to transfer risk etc. Risk Monitoring and Control: This involves how organizations monitor the identified risks, new risks through out the execution of the projects. Business and industrial categories are identified as follow: Construction Education Finance Healthcare Insurance Information Technology Disaster E-commerce E-banking Internet Business Information Security Software development Maritime Marketing Organizational Process Pure General Research Terrorism We also found that information technology risk management plays a great role in modern businesses and industries because of wider usage of internet and web technologies. Our analyzed data will be represented in pie chart, bar chart and line chart by comparing different categories, different risk manage processes, different years etc. Data Collection and Analysis Data Collection We used digital databases web site – ACM, IEEE and ProQuest for scholar paper and articles and the existing search engines – google and yahoo. But we are not unable to get some papers from the search engines. So, we used these to get only information which papers are located in which databases. Using information returned from the search engines, we search the desired papers in the databases. The following chart, Fig 1 shows the state of the materials found in the three sources – ACM, IEEE and ProQuest. Figure 1 Distribution of papers There are 113 papers found in those databases. We summarized the papers found in the three sources. We categorized by the papers by using PMBOK guide. We provided the Risk Analysis, Risk Assessment, Risk Control, Risk Response and Risk Identification. The following diagrams show the results. We learned that ACM database has more papers related to the risk management as in Fig 2. Other two databases have papers. But some papers are general for risk management. So, we discarded the papers and then we collected the more specified papers which are related to the above titles. We prepared the results with some charts as shown in below figures. Figure 2 Research papers found in ACM database by category Figure 3 Research papers found in IEEE database by category Figure 4 Research papers found in ProQuest database by category The above figures, Fig 2, Fig 3, Fig 4 show that the papers found in the ACM, IEEE, ProQuest database are shown by categories. Risk analysis is mostly conducted by majority of researchers. It was conducted mostly in year 2005 and 2006. Risk assessment and risk response research areas are fewer than other risk management process areas. Research for risk response is very rare, not fairly distributed and found in certain year. Data Analysis The trends of the risk analysis for the year 2000-2007 are shown in graph, Fig 5. We learned that IT project management was highest in recent 7 years. Figure 5 Trends in different business and industries within year 2000-2007 Information Technology We learned that there are varieties of IT projects. We categorized it as follow. Software Development E-Banking Disaster Information Security E-Commerce Internet Business When we categorized these topics, we found that some fields are ambiguous to group them. Some fields are software performance testing and fields emerged after the development phase. We grouped these fields were in the Software Development part. We grouped Networking security and other Internet security fields into the Information Security part. We formed a group for the Internet Banking as a E-Banking. In the Disaster group, we put the some disasters in the Disaster parts. These disasters sometime can be seen when processing some tasks in IT such as software error, hardware crash, and wrong information usages. We collected the potential security risks and group them into the Information Security group. Internet Business can be confused with E-Commerce and E-Banking. We intended the Internet Business to group the fields of the some businesses which are using Internet and make transactions via internet such as Online Registration. We found that Software Development risk analysis is most famous. In 2006, Software Development trend is the more than year 2005 and 2007. But year 2007 is not ended. So we can’t make any decision for that year. Figure 6 Risk management processes in different information technology fields Internet Business is the second thing to be learned. But Information security is down in 2006. Internet Business is coming up. Construction Construction group has the fields of which are architectural fields and construction works. We learned that in 2000 and 2001, there are some interests upon that field. In 2001, the construction field can be seen as a hottest field. Education We grouped the some fields in to Education group that fields are Education fields, learning methods in Education. The research related with the Education can be seen in the year 2004 only. Finance Finance group is wide. We formed the Finance group for some fields that are Cost Estimation, Accounting, Management Accounting and Banking. The finance is most famous in 2004. In the subsequence year, trend for the finance is running down to bottom. Healthcare We collected the data for the healthcare. But it is difficult to collect for the healthcare. We learned that in 2005, healthcare was appropriate level. But later, we cannot see it until 2007. Marketing In 2002 and 2005, marketing was in regular level. In 2003 and 2006, it was high up to 2. So, we learned that marketing was the regular level. Organization In the organization group, we combine the Oil Field, NASA, and some other organization-oriented fields. There are some researches for the organization in every year. There are some researches in the organization group within 2002 and 2006. Terrorism Terrorism was the new emerging fields after 9/11 problem. But later, we were not available for that field later years. This group is an exception for the risk management. But it is one thing to be considered later. Maritime Maritime was the individual fields. We did not combine any fields to that group. This category can be seen in only 2001. Insurance Insurance is the same as the Maritime. We learned that that group is only one field. We learned that the field was in the 2004 and 2005. But Insurance can become an interesting topic in future. General In General group, we combine other fields such as some theory approves and lecture views. Before conclusion section, we intended to present the findings as summary of data collection and analysis. Risk management is the sub-set of Project management. In academic field, risk management researches are becoming increasingly. According to our analysis, risk management researches related to Information Technology are highest topic of the research filed. But one of our exceptional cases is that we need to learn many research papers from many databases. We studied only three databases and 113 research papers. If we learned more papers, we can get more perfect result. In this paper, we categorized only 11 fields. It is general for the risk management. To get the better result, we also need to categorize the exact fields out of many fields. We can also categorize the risk management fields more according to the PMBOK guide. Conclusion and recommendation Business organization and industries suffer from lost and harm because of poor handling in risk management. They have been enduring the agonizing outcomes of failure in the form of unusual delays in project completion, with cost surpassing the budgeted cost and sometimes failed to meet quality standards and functional requirements. Competition among rivals makes the companies to deliver projects in less time and cost with better functionality. Risk management is a predefined and structured approach for identifying and analyzing potential risks associated with a project so that effective risk treatment can be done at the lowest cost. It is not impossible to eliminate all risk and costly to overdo risk management, but it is also unwise to think of eliminating risk. There will be, sometimes, positive risks those will lead to profit if properly analyzed and identified. Our term paper provides an analysis on papers and articles and conduct bibliographic study by particular risk management process and business category. Risk management researches are mostly done in mission critical environments and risky projects. As internet booms, information security and e-business issues are associated with a lot of risks. We found that majority of research papers are related to information technology in last decade. Risk in credit portfolio management, supply chain, pricing and insurance fields are also researched as they are related to financial lost and harm. Though risk management can offer significant benefits to a project in order to reduce nasty surprises and identify and act upon opportunities, it is, however, not a ‘panacea’ for the problems and surprises which befall many projects and should not be seen as the ‘silver bullet of project management’ (Pavyer, 2004) as Murphy’s Law is the governing law of project management: if something can go wrong, will go wrong. As we collected from three databases, mainly from ACM, our result can be a little affected by other finding and papers. Results will be slightly different as we go though several databases. Even thought we titled to 2007, we believe that other findings and papers will come out during this year. But based on our analysis, some inferences and emerging trends can be seen. Recommendations As people and management are aware of the importance of risk management processes, it would be more affective and appropriate to put more emphasis on formal and or informal education and training to further enhance their awareness of risk management. Formal education could be graduate studies in financial project management, software project management and construction project management etc. Informal education and training could be in the form of career development programs or workshops within organization or organized by academic institutions or professional seminars. Each organization should have own risk management plan, risk response plan, and human risk factors plan. Risk management team should be formed according to project manager’s guidelines and organizational goals. Project manager must aware of current risk management trends and technological trends for long term strategic planning. Researchers on risk management should cooperate and conduct on research areas which have been done less like autonomous agent systems, spacecraft systems, information security management. Appendix A. Reference Burke, R. (2003). â€Å"Product Management.† Biddles Ltd, Guildford. Brandon, D. (2006) â€Å"Project Management for Modern Information Systems† IRM Press Cooper D., Grey S., Raymond G., Walker P., (2005) Managing Risk in Large Projects and Complex Procurements. Chapman, R. J., and Ward, S. (1997). â€Å"Project Risk Management Processes, Techniques and Insights† John Wiley Sons, Chichester, UK. Flanagan, R., and Norman, G. (1993). Risk Management and Construction, Blackwell, Oxford, UK. Pavyer, E. (2004). â€Å"Evaluating Project Risk.† Strategic Risk Management, Auguest 2004, 24-25 Project management institute (2000). â€Å"A Gide to Project Management Body of Knowledge† Project management institute, 6 Raftery, J. (1994). Risk Analysis in Project Management, E FN SPON, London, UK. Snider, H. W. (1991). â€Å"Risk Management: A Retrospective View.† Risk Management April, 47-54 Schwalbe, K. (2006). â€Å"Information Technology Project Management.† Thomson Course Technology, 425 Yee, C. W., Chan, P., and Hu, G. (2001). Construction Insurance and Risk Management- A Practical Guide for Construction Professionals, The Singapore Contractors Association Ltd., Singapore. Appendix B. List of papers Researchers Title Database Risk Category Year Business Category Sub Category Steven L. Cornford, Martin S. Feather,John C. Kelly, Timothy W. Larson, Burton Sigal,James D. Kiper Design and Development Assessment ACM Risk Assessment 2000 IT Mary Sumner Enterprise Wide Information Man

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It is almost asRead MoreThe Pursuit Of Excellence : Moving Forward As A Bachelor s Prepared Nurse1157 Words   |  5 PagesThe Pursuit of Excellence: Moving Forward as a Bachelor’s Prepared Nurse This paper is a reflection of the things I have experienced as a bedside ICU RN and the ways my nursing career has been transformed while studying to complete my Bachelor’s of Science in Nursing at Notre Dame of Maryland University (NDMU). My presence and skills as a nurse have been strengthened with the information and resources available from this program. During the completion of my Associates of Arts Degree in Nursing IRead MoreCareer Assessment : From Your Pursuit For Excellence And Exceptional Organizational Skills2055 Words   |  9 Pagesyour stability and focus. You work well alone and prefer to socialize when the job is done.† o â€Å"Your commitment to productivity and accountability makes you a valued employee. You are wired for leadership. Companies will benefit from your pursuit for excellence and exceptional organizational skills.† †¢ Motivation assessment: (http://www.seemypersonality.com/) o â€Å"You sometimes have a strong drive for completing important tasks, but you will often not be driven if you do not feel the task is importantRead MorePlato and Aristotle Essay1465 Words   |  6 Pagesthem courageous. The Rulers are dominated by their rational faculties and strive for wisdom. These are the reasons why a just individual like a just society. Aristotle claims that pride is a great virtue and is achieved by a life dedicated to excellence. This claim can be further developed by addressing the significance of pride. The overall idea is that a proud person functions better in society. He is able to use his best ability to achieve not only self achievement and fulfillment but alsoRead MoreAristotle Essay1238 Words   |  5 Pagesaddressing issues of personal character on a microscopic level believing that in turn this will assist the state on a macroscopic level. Developing character or as Aristotle refers to it, â€Å"human excellence† is an activity of the soul, rather than the physical body. Aristotle refers to the cultivation of human excellence as an activity of the soul because on a spiritual level he believes the soul to be the whole of an individual, similar to his belief that on the political level the state is the whole ofRead MoreThe Pursuit Of Leadership : An Essential Skill Of Todays Leader1460 Words   |  6 PagesThe Pursuit of Leadership The quality of pursuit as an essential skill of today’s leader is often overlooked. Leaders are taught to communicate well and be authentic. They are encouraged to be caring individuals and fair to employees. But how often are they coached and inspired in the actual pursuit of leadership? According to Gregory Morris, â€Å"potential leaders may be born, but effective leaders are made† (p.28).In today’s ever changing world it is more important than ever that leaders pursue theirRead MoreMy Life Philosophy by Omotola Osunrinde1532 Words   |  7 Pagesself-determination, improvement and socialization. This is why I ensure to always strive hard and apply the principle of excellence in whatever I do. I know that my motivation would keep me in tune with life dynamics such that the harder I work, the better I score and the more fulfilled I become. Everyone has their own personal outlook on life, but whatever one’s opinion is, excellence is in tandem with life f ulfillment as fulfillment results to happiness. Aristotle once expressed that â€Å"Happiness is the

Platos Republic Essay - 896 Words

Platos Republic â€Å"the having and doing of one’s own and what belongs to one would be agreed to be justice.† (The Republic 434a) In other words the above statement means that justice, according to Plato, is doing only the tasks assigned to them by nature. This is the fundamental notion for his creation of an ideal city. It is both knowing what true justice is and where one belongs in the city that the ideal can be achieved. What this means to politics in the ideal city is that only a certain class of person has the ability to engage in politics, just as only a certain person has the ability to engage in carpentry. Those who engage in politics would be the philosophers because just as the ideal individual searches for†¦show more content†¦A third class, auxiliaries, would be in charge of carrying out what the philosophers, guardians of the city, decided. However, Plato does admit that this system is a hierarchy with the philosophers at the top, but he allows this bec ause they are the only ones who can find universal truths and pass it on to those who cannot see it. To Plato the above is his vision of a justice. Within his idea of justice, Plato also has three other virtues to help categorize those within the city and find justice in the city itself- wisdom, courage, and moderation, all ideals that would sustain the city and nurture it. Wisdom is found in the philosophers, courage in the auxiliaries, and moderation found in all classes. Philosophers need wisdom and the need to know what justice is. The auxiliaries, say soldiers, need courage to protect the interests of the city. Finally, all classes need to demonstrate moderation so as not to develop injustices through excess luxury, the only luxury that a city can have is philosophizing. These virtues, if found in a city, can also help one to distinguish it as a just city. Therefore, within Plato’s definition of a division of labour making a city just, he also identifies other components of it. But, for the ideal city to be nurtured, all the divisions listed must beShow MoreRelatedAnalysis of Platos Republic Essay458 Words   |  2 PagesPhilosophy is a Greek word meaning love of wisdom. Throughout Platos Republic, wisdom plays an important role. According to Plato, education is wisdom. In the passage, 518d, Plato discusses the true meaning of education vicariously through Socrates. Some literary mechanisms can be found in the passage and I will sho w how they fit in the text and how they contribute to the main themes of Platos Republic. In Book VII Socrates has finished listening to other opinions and is now formulatingRead More Platos The Republic and Aristophanes The Birds Essay1193 Words   |  5 PagesPlatos The Republic and Aristophanes The Birds   Ã‚  Ã‚  Ã‚  Ã‚  It is evident, by Platos The Republic and Aristophanes The Birds, that ones vision of an ideal state is not the same mystical utopia. Platos Republic is an well-ordered society that emphasizes the development of the community, which leads to its people believing in this philosophy. Cloudcuckooland, the idea of two lazy Athenians, is an unorganized society that lacks the substance to make it a workable society. I would much rather liveRead More The Importance of Thrasymachus in Plato’s Republic Essay923 Words   |  4 PagesThe Importance of Thrasymachus in Plato’s Republic   Ã‚      Dr. Malters’s comments: This student does two things quite remarkable for an undergraduate student. In his compact essay, not only does he display an in-depth understanding of complex perspectives on justice put forth by the protagonist Socrates, he deftly explains how Plato has artfully made rude objections by a seemingly minor character early in the dialogue function as a structuring device for nearly all the important ideas examinedRead More Comparing Platos Republic, Mores Utopia, and Gurneys Dinotopia1395 Words   |  6 PagesPlatos Republic, Mores Utopia, and Gurneys Dinotopia    Throughout history, mankind has struggled to lead better lives and improve their society for future generations. What do we continuously attempt to improve? What kind of changes are we trying to institute? In other words, what is an ideal society? Many people have very diversified views about a perfect civilization. In Platos Republic, Sir Thomas Mores Utopia, and James Gurneys Dinotopia, three imaginary societies are describedRead MorePlatos Explanation of an Ideal State in his Work, The Republic1878 Words   |  8 PagesThis question has sparked debate since the very formation of organized political society. In Plato’s The Republic, Plato seeks to define justice and in doing so he seeks to explain the ideal just state. In Plato’s explanation of an ideal state, there is an extreme emphasis on unity and harmony. The reason unity and harmony are so important to Plato are because they are responsible for bonding together Plato’s ideal state and protecting it from tyranny. Plato explains at great length the framework whichRead MorePlatos Republic1243 Words   |  5 PagesIn Platos Republic, Socrates goes to great lengths to explain and differentiate between the ideas of opinion and knowledge. Throughout society, most common men are lovers of sights and sounds. Lovers of sights and sounds like beautiful sounds, colors, shapes, and everything fashioned out of them, but their thought is unable to see and embrace the nature of the beautiful itself (Republic 476b). The few who do recognize the beautiful itself are followers of the sight of truth, the philosophersRead MorePlatos The Republic1054 Words   |  4 Pages In Plato’s The Republic, the theory of appointing a ruling class is a major aspect in his political theory of a just state. As communicated through Socrates, Plato believed in the appointment of only a few citizens of the just city that possess a soul that craves all truth, knowledge, wisdom, and through proper education are competent enough to rule the just state and to decide on legislative policies. In my paper, I will be arguing against Plato’s political theory of who is best fit to be chosenRead MoreEssay on Plato’s The Republic1168 Words   |  5 PagesPlato’s The Republic In the simile of the cave We are asked to picture a group of people sitting inside a dark cave, their hands and feet are bound in such a way that they can only look at the back wall of the cave. Behind the chained prisoners a fire is burning, and between them and this fire a path runs along which men carry figures, the shadows of these figures are projected onto the back wall of the cave. The prisonersRead MoreEssay on Platos Republic981 Words   |  4 PagesPlatos Republic Plato, one of the most ingenious and powerful thinkers in Western philosophy, born around 425 B.C. Plato investigated a wide range of topics. Dominant among his ideas is an immense discourse called The Republic. The main focus of Plato is a perfect society. He outlines a utopian society, out of his disapproval for the tension of political life. Plato lived through the Peloponnesian War (431-404 BC), in which much of Greece was devastated. This created poverty and political confusionRead MorePlatos Republic3750 Words   |  15 PagesBook I What is justice? Why should we be just? Cephalus - Justice means living up to your legal obligations and being honest. - Socrates - Its like returning weapon to a madman.. hell kill people. Polemarchus - Justice means that you owe friends help, and you owe enemies harm. - Socrates - we are not always friends with the most virtuous, nor are our enemies always teh scum of society Thrasymachus , sophist - Justice is nothing more than the advantage of the stronger-- it does not

Outlier Free Essays

1. The large difference between how I have thought and understood success compared to the way Malcolm Gladwell argues is the circumstances and families that create success. Previous to reading this book, I strongly believed that the way to become successful was to put in hard work. We will write a custom essay sample on Outlier or any similar topic only for you Order Now For example, my theory to success was similar along the lines to what Malcolm Gladwell discusses earlier in the book. He says, â€Å"Practice isn’t the thing you do once you’re good. It’s the thing you do that makes you good†(Gladwell, 2008). I believed if you practiced what you want to be successful at everyday, you would eventually end up reaching your goal. However, after reading Malcolm Gladwell’s opinion my beliefs are now different. One of the more important examples Malcolm Gladwell mentions that showed how different I thought was the success story of Bill Gates. I personally believed that Bill Gates was successful only because he was an intelligent man who was driven by hard work and his goal to create the personal computer. Previous to this novel my only education on Bill Gates was from reading short articles about him and from what I have heard from friends and teachers. What I did not know about Bill Gates was his given circumstance and the support from his family and others. Malcolm Gladwell mentions that there important opportunities that were â€Å"incredible lucky series of events†(Gladwell, 2008), that created his success. Some of the opportunities Bill Gates was given were his â€Å"free computer time at the University of Washington†(Gladwell, 2008) and also previous to that his mother along with others â€Å"had enough money to pay for his high school Lakesides computer fees†(Gladwell, 2008). Without the circumstance of Bill Gates receiving free computer time, chances are he wouldn’t have been nearly as intelligent and innovative with computers as he is today. To reiterate Malcolm Gladwell’s argument about super achievers are successful because of their families, in Bill Gates circumstance it is true. He wouldn’t have had the opportunity to practice with computers at a young age if his mother couldn’t afford to pay for the schools computer fees. Based on Bill Gates example Malcolm Gladwell writes about, it creates a credible argument to how he believes how to become successful. I did not even consider before reading this novel that family and the fortunate circumstances you are given are a substantial part to ones success. However, now it is crucial that it is not overlooked. 2. In my opinion, the â€Å"cultural language† in the United States varies across the country depending on where you are from. I believe that in some regions of the United States the cultural language is similar to the language represented by the co-pilot Koltz in â€Å"The Ethnic Theory of Plane Crashes†(Gladwell, 2008). However, I also believe in other vicinities in the United States the cultural language is outgoing and in the situation presented in the plane crash chapter, the cultural language would have been much more extrovert. The cultural language across the United States has emerged and evolved based on where you and your parents are from and how you were raised. Moments before the plane â€Å"Avianca 052†(Gladwell, 2008) crashed after running out of fuel, Co-Pilot Mauricio Klotz attempted to warn Kennedy Airport that their airplane did not have the sufficient amount of fuel to land. However, because Klotz was using â€Å"his own cultural language†, the controllers were not able to comprehend the trouble Avianca 052 was really in. I believe Klotz’s mitigated speech during this problem is similar to some cultural languages in the United States. For example, Malcolm Gladwell discusses Robert Sternberg’s theory of â€Å"practical intelligence†(Gladwell, 2008). To Sternberg, practical intelligence is â€Å"knowledge that helps out read situations correctly and get what you want†(Gladwell, 2008). It is clear that Klotz’s cultural language lacked practical intelligence. However, I believe numerous cultures in the United States also lack the same intelligence. Malcolm Gladwell recalls a study where â€Å"Annette Lareau conducted a fascinating study of a group of third graders†(Gladwell, 2008). Results of the study showed that lower-class children are â€Å"quiet and submissive†(Gladwell, 2008). Therefore, children and adults who are from lower-class families very well could have responded the same way Klotz did during a time of emergency. The cultural language of the United States can also be outgoing and far from â€Å"quiet and submissive†. Malcolm Gladwell discusses the South and the personalities people possess there. From results of an experiment, it had shown that Southerners were more willing to stand up for themselves. The experiment consisted of calling them an â€Å"asshole† to see if it â€Å"caused their levels of testosterone and cortisol-the hormones that drive arousal and aggression-to go up† (Gladwell, 2008). The results were the Southerners â€Å"were angry, their cortisol and testosterone jumped. Their handshakes got firm†. It is easy to predict how a Southerner would have reacted to a plane moment’s way from crashing if they react strongly to simply being called a derogatory name. My guess is that if a Southerner was a co-pilot, the controllers at Kennedy Airport would have understood the trouble the airplane was in. I believe our vast cultural language derived from what Malcolm Gladwell would call â€Å"the culture of honor†(Gladwell, 2008). The â€Å"culture of honor† describes people behave the way they do because of where â€Å"you grew up or where your parents grew up†¦where your great-grandparents and your great-great-grandparents grew up and even where your great-great-great-grandparents grew up†(Gladwell, 2008). This explains our difference in the United States culture because the majority of the people living in the United States families were once immigrants. People come from all over the world to live in the U. S. and that is why are culture is different from any others. I believe our vast cultural language works in favor with our social structure because it matches with the supply and demand of our economy. For example, there are plenty of jobs in the United States where people who respect their superiors and are afraid to speak up can work. Also, there are opportunities to open up your own business if you contain traits similar to Malcolm Gladwell’s example of a Southerner and do not mesh well with being told what to do. 3. When Gladwell says that biologists talk about the ‘ecology’ of an organism he is referring to why certain organisms are more successful than others. Malcolm Gladwell is inferring that the â€Å"tallest oak in the forest is the tallest not just because it grew from the hardiest acorn†(Gladwell, 2008). It is the tallest oak in the forest because of many more reasons. Reasons that include luck and some things that cannot be controlled. For example, when discussing about oak trees, Gladwell mentions that one oak tree is the tallest because â€Å"no other tree blocked its sunlight†¦no rabbit chewed through its bark†¦ and no lumberjack cut it down before it matured†(Gladwell, 2008). Gladwell’s point of the ecology of this certain tree is that is it the most successful because of certain circumstances it was placed in. The â€Å"Matthew Effect† or also known as â€Å"accumulative advantage† is when â€Å"those who are successful are most likely to be given the kinds of special opportunities that lead to further success†(Gladwell, 2008). Malcolm Gladwell’s example of accumulative advantage is hockey players and how at a young age they achieve success. Gladwell discusses that â€Å"the professional hockey player starts out a little bit better than his peers. And that little difference leads to an opportunity that makes that difference a bit bigger†(Gladwell, 2008). An important implication of the hockey example is that the similarities in the age of the hockey players who have had success. The majority of the hockey players in Canada are born in â€Å"January, February, and March†(Gladwell, 2008). Because of the fact that these professional hockey players were born in the beginning of the year they had an advantage over those who were born later in the year. The reason why they have an advantage is because when they were young they were bigger and more matured than those who were born later in the year. Since that these hockey players were bigger than the other kids they were given the opportunity to play hockey at more of an elite level. This is a prime example of â€Å"The Matthew Effect† and it explains that ones who are successful are given more opportunities to be more successful. However, accumulative advantage and ecology both are very similar. For example, along with the accumulative advantage in the hockey player instance there is also ecology to it. As mentioned earlier, the ecology of an organism is lucky or uncontrollable circumstances that occur. For the most part, the date of birth of a person is often uncontrollable and is not often planned. Accumulative advantage and ecology as seen in this example, are often correlated with one another. In both the Matthew Effect and the ecology and an organism, people are given a better opportunity. References Gladwell, M. (2008). Outliers. New York: Little,Brown and Company. How to cite Outlier, Essay examples

Web and Data Security

Questions: 1) What are the five tasks required to get ready for a risk assessment? Explain each one in your own terms and why the task is important.2) Discuss the threats associated with privileged user accounts? Please support your views from sources other than the assigned reading and also the text book.3) Using fig 3 the generic risk model in the document and the threat identified in question 2. Identify the risks at the Organizational level, business process level and information system level.4) Based on the risks identified, recommend the information system policies that would be required. You do not need to write the policy in detail, simply provide the title and one sentence describing the policy. Answers: 1. The five tasks required ready for risk assessment are: Step 1: Identification the assessment purpose: In order to the current prevailing situation the organization needs to understand the difference between hazards and risks. A hazard is the potential to cause harm; whereas risk is the likelihood of the released potential harm (Sharma, Kottahachchi Theebaprakasam, 2013). It can be easily identified by using a couple of technique around the employee workplace. Step 2: Identify the scope of the assessment: This step of risk assessment helps the organization to determine: (i) what categories are transmit the assessment, (ii) it specifies (how and what) part of the assessment are get affected in the organization, (iii) decision making process involved in the risk assessment, (iv) at what time span organization rules are relevant and (v) what influence the organization to update the risk assessment (Kim, Kim Park, 2014). The scope of risk assessment also implies the overall information and report of conducting the assessment. It mainly depends upon the organization authorization boundary of information system (Kottahachchi, Shih Theebaprakasam, 2015). Step 3: Identification of constraints and assumptions associated with the assessment: It is very important to make certain assumptions and constraints for higher clarity as it helps the company management to increase productivity of assessment results. It includes threats events, threats sources, vulnerabilities conditions and approaches of assessment. Besides these, organizations also tend to identify several constraints which include availability of resources, skills assessment and business operational activities. Step 4: Identification of sources of information in input assessment: The fourth step of risk assessment enables the organization to determine the vulnerability and threat relevant information. It generally divided into two segments internal sources of information and external sources of information (Sharma, Kottahachchi Theebaprakasam, 2013). The sources of information include the information like business processes, functional management processes, enterprise architecture and organization environmental infrastructure. Step 5: Review the risk assessment: In this approach, the organization facilitates and identifies the type of models used to accelerate the risk assessment task. 2. The threats that are associated with privileged user accounts are: Transcript of Security Accounts Threats: It is very important to have a proper security account with its password on the device. Avoid using consoled sign in procedures at any point of time. Privileged inside threats: It generally includes mitigating and recycling credentials by sing default password account (Kottahachchi, Shih Theebaprakasam, 2015). It is a very flexible system of authentication by logging it from more than one device. Spoofing attacks threats: It is primarily seen that hackers usually spoof users personal email accounts by mitigating unauthorized access from the system. The threats involved in organizational and business process level is very similar to risk involved in privileged user accounts. There is an absence of hybrid control systems, system specific controls and common controls which enables professional hackers to accelerate the mitigation user account system (Hamlen Thuraisingham, 2013). There are various similar threats that can replicate themselves and spread from one computer to another. They generally arrive by attaching themselves to files or email messages. The phishing threat is very well known threats involved in privileged user accounts. It implies attempting the gain access to financial details, passwords, and other personal privileged information. It is normally done by email messages that pretend to come from any trusted websites or instant messaging or from any social networks. 3. There are various types of risk involve in company management, information system technology risk and business process level risk. These primary risks are classified into strategic risk, financial risk, operational risk and hazard risk (Sharma, Kottahachchi Theebaprakasam, 2013). It is very important to make certain constraints for higher clarity as it helps the company management to increase production assessment. It includes threats events, threats sources, vulnerabilities conditions and approaches of assessment. The sources of information include the information like business processes, functional management processes, and enterprise architecture and organization environmental infrastructure. Risk at organizational level: The risks involved in organizational level includes: acquisition risks, regulatory or compliance risk, legal risk, financial risk, safety risk, program risk, operational risk, supply chain risk, supply chain risk and tolerance risk. Additionally, there are several risk involved in internal company management like: operational planning risk, interim report risks and strategic risks (Hamlen Thuraisingham, 2013). Risk at business process level: The risk at business process level includes: defining the core business process and missions with company aim and objectives, developing an organizational narrow details; protection incorporating strategy, accelerating the degree of autonomy for manipulating organizations with the parent company management which includes accepting, mitigating, evaluating and accessing and data security risk. Other business process risk includes: action plan risks, evaluation risk and establishment risk. Risk at information system level: The risk involved in information system level includes information quality risk, equipment software risk, contingency planning risk, security architecture risk, data accuracy risk, project team risk, usability risk, political and strategic risk and resources risk. Additional there are various risk involved in information system like technical risks (communication issue, lack of experimented testers, human factor and poor coding factors) and functional risks (inexperience of a project leader, misevaluation of load and lack of client maturity). 4. The recommendations based on risk identified: As the researcher has surveyed many case studies and research paper based on risk assessment it is to be recommended that: Instead of logging in a privileged super user; it is beneficial to use an equivalent group that provides private access and characteristics of operating system like sudo or Run as that follow the permanent privileges escalation. Control on User account enables the user to accelerate privileges for software legacy that run on the system administrator. It is necessary to improve the session management by achieving compliance privileged access for remote vendors, administrators, and high risk users. The risk involved in organizational level, information level and business process level can be easily minimized by implementation of security controls system in the management which includes hybrid control systems, system specific controls and common controls (Sharma, Kottahachchi Theebaprakasam, 2013). Consideration of risk transference: Generally in many multi-national companies risk can be transferred to any third parties via an insurance policy and legal agreement. Now-a-days, most of the companies come with the cyber insurance policy to minimize the risk assessment policy (Hamlen Thuraisingham, 2013). It is strictly recommended to implement a strategy of cyber insurance policy in a company management to ensure lesser risk in future. References Hamlen, K. W., Thuraisingham, B. (2013). Data security services, solutions and standards for outsourcing.Computer Standards Interfaces,35(1), 1-5. Kim, Y., Kim, I., Park, N. (2014). Analysis of cyber attacks and security intelligence. InMobile, Ubiquitous, and Intelligent Computing(pp. 489-494). Springer Berlin Heidelberg. Kottahachchi, B., Shih, K. Y., Theebaprakasam, A. (2015).U.S. Patent No. 9,152,783. Washington, DC: U.S. Patent and Trademark Office. Sharma, H., Kottahachchi, B., Theebaprakasam, A., Shih, K. Y. (2013).U.S. Patent Application No. 13/485,408.