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About The Human Factor In Risk Management – Primary Source Of Uncertainty

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  • Valentin Petru Măzăreanu

    () (The Faculty of Economics and Business Administration , “Alexandru Ioan Cuza” University of Iasi, Iasi, Romania)

Abstract

Risk management means making steps in order to identify those risks with a highly probability of causing problems to a project, to analyze the probability of loss and the magnitude of loss for each risk, to classify the risk points identified according to the composed risks they belong to. An especially important role in any system is owned by the human factor, maybe the most incontrollable component of the surrounding world, a primary source for uncertainty, as John von Neuman and Oskar Morgenstern claim [*]. The main objective of this paper is to analyze the human component and to offer solutions from the risk management perspectives at least from two points of view, that is: human, as an attack source to the information system (e.g. outside attacks, inside attacks – ill intended persons, unprepared persons etc.) and the risk generated by the status of key position of a human resource within the system (e.g. the effects caused by disease, death, leaving the team etc.).

Suggested Citation

  • Valentin Petru Măzăreanu, 2012. "About The Human Factor In Risk Management – Primary Source Of Uncertainty," Romanian Economic Business Review, Romanian-American University, vol. 6(1), pages 53-63, May.
  • Handle: RePEc:rau:journl:v:6:y:2012:i:1:p:53-63
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    File URL: http://www.rebe.rau.ro/RePEc/rau/jisomg/SP12/JISOM-SP12-A6.pdf
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    References listed on IDEAS

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    Keywords

    risk management; human factor; uncertainty;

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