Cost-Risk Optimization Applied in the Context of Regulation

Ibtissem Chouba, Jean-Sébastier Sottet

2018

Abstract

Most engineering, maintenance and operating decisions involve some aspect of Cost/risk trade-off. In this context we will talk about the cost- risk optimization applied to information systems in the context of application of regulations. In this paper, a conceptual model of risk based regulation, based on the existing business and risk architecture models will be presented. Then, a conceptual cost-risk model associated with the implementation of risk mitigating controls will be adopted and integrated into the optimization approach. Following this cost model, a mixed-integer linear program will be described. The bi-objective optimization of the risk-cost will then be solved with IBM ILOG CPLEX optimizer to define an optimized solution. The result of the calculation of the optimization will serve as a help to the decision-making of the company.

Paper Citation

in Harvard Style

Chouba I. and Sottet J. (2018). Cost-Risk Optimization Applied in the Context of Regulation.In Proceedings of the 6th International Conference on Model-Driven Engineering and Software Development - Volume 1: MODELSWARD, ISBN 978-989-758-283-7, pages 536-543. DOI: 10.5220/0006659105360543

in Bibtex Style

@conference{modelsward18,
author={Ibtissem Chouba and Jean-Sébastier Sottet},
title={Cost-Risk Optimization Applied in the Context of Regulation},
booktitle={Proceedings of the 6th International Conference on Model-Driven Engineering and Software Development - Volume 1: MODELSWARD,},
year={2018},
pages={536-543},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0006659105360543},
isbn={978-989-758-283-7},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 6th International Conference on Model-Driven Engineering and Software Development - Volume 1: MODELSWARD,
TI - Cost-Risk Optimization Applied in the Context of Regulation
SN - 978-989-758-283-7
AU - Chouba I.
AU - Sottet J.
PY - 2018
SP - 536
EP - 543
DO - 10.5220/0006659105360543