ABSTRACT
This chapter refers to the evaluation analysis of operational risks and affected operations. The calculation of the degree of significance and actual values, referring to cause, events, and consequences, by applying correlation analysis is discussed comprehensively. The calculation of the significance values for the events, causes, and consequences that refer to the risks and operations under study are defined mathematically in this chapter. Moreover, the calculations of the actual values of the affected operations as well as the corresponding beta points are illustrated. The importance of having common measurement values and scales together with the use of data normalization is also discussed. Clustering analysis as a main tool in the evaluation process is presented and discussed analytically. This chapter begins with the definition of clusters for operational risk and affected operations. Clustering approaches based on fuzzy
logic theory are presented to show their implementation in operational risk analysis.
