An Applied Mathematical Model for Business Transformation: The Holistic Business System's Risk Assertion (HBSRA)

An Applied Mathematical Model for Business Transformation: The Holistic Business System's Risk Assertion (HBSRA)

Copyright: © 2020 |Pages: 50
DOI: 10.4018/978-1-7998-1009-4.ch008

Abstract

The authors propose to use the holistic business system's risk assertion (HBSRA). The HBSRA supports a central decision-making system (DMS), projects, and enterprise architecture projects (EAP). The proof of concept (PoC) is based on applied business case from the insurance domain, where the central point is the transformation process of a traditional insurance enterprise into an agile and automated business enterprise. Such projects are managed by business transformation managers (manager or simply managers) who are supported with a methodology and a framework that can support and estimate the risks of implementation of projects. The manager is responsible for the implementation of the complex background of projects and during its implementation phase.
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Background

Projects involve the complete digitization of value chains and business processes automation and enables that a traditional enterprise creates new business models and hence financial excellence. Transformed enterprises like Cisco Systems, Dell Computer and many others report important financial gains due to Projects (Barua, Konana, Whinston, & Yin, 2001). This research is considered as a pioneering one and actually or even unfortunately, there is not any adaptable risk concept for Projects. A holistic HBSRA and DMS can be also used for Projects in maintenance and production phases which comes after the finalization of the implementation phase. This research phase’s background is related to risk evaluation of Projects using CSFs that are managed by the Trad Kalpić Methodology and Framework (TKM&F), as shown in Figure 1 (Trad & Kalpić, 2018f). CSFs are selected from various Business areas like business processes, accountancy, enterprise skills….

Figure 1.

The research framework’s concept (Trad & Kalpić, 2016a)

978-1-7998-1009-4.ch008.f01

In this chapter the authors present a set of HBSRA managerial recommendations and this chapter combines business fields, Knowledge Management (KM), HMM, Enterprise Architecture (EA), information technology management, business transformation and other business engineering fields. Integrating a HBSRA should be a fundamental strategic goal for Projects (Trad & Kalpić, 2018a; Trad & Kalpić, 2018b; Cearley, Walker, Burke, 2016), where Figure 2 is fundamental for the whole research project and it is used in the whole book; where Dm stands for Decision making...

Key Terms in this Chapter

TOGAF: The Open Group’s architecture framework.

Manager: Business transformation manager.

EA: Enterprise architecture.

RQ: Research question.

MM: Mathematical model.

XML: eXtensible mark-up language.

NLP: Natural language programming.

ML: Mathematical language.

EAP: Enterprise architecture projects.

Projects: Business transformation projects.

DMS: Decision-making system.

ICT: Information and communication technologies.

KM: Knowledge management.

CSA: Critical success area.

ADM: Architecture development method.

TKM&F: Trad Kalpic methodology and framework.

HBSRA: Holistic knowledge-management system.

BPM: Business processes modelling.

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