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Value-risk based performance evaluation of industrial systems

Abstract : Performance measurement and management (PMM) poses daunting challenges to organizations in terms of meeting multiple stakeholder objectives. Evaluation of these objectives, and hence performance is essential for many reasons such as monitoring and control, diagnosis, improvement, learning and decision-making of processes or enterprise systems. Performance measures as descriptors of performance are the key tools in this evaluation process. However, the multidimensionality of performance, the inter-dependencies among performance measures and the pursuit to manage many dimensions of performance complicate the PMM process. Furthermore, the uncertainty in terms of objectives satisfaction surrounding the business processes or enterprise systems adds further complexity. To deal with these issues, a process-centered value-risk based performance management system (VR-PMS) is proposed in the current research work. The purpose is to transform the expectations and fears of stakeholders into value and risk indicators respectively for informed decision making. For this purpose, a conceptual value-risk model is developed aimed at integrating consistently the concepts relevant to objectives, activities and risks in one framework and conceptualizing the idea of value and risk based performance management. In addition, a methodological framework is developed that divides the PMM process into three phases: performance modeling, assessment and decision-making. Each phase of the framework is instrumented with quantitative analysis methods and tools. The deliverable of the VR-PMS is a set of ranked solutions (i.e. alternative business processes) evaluated against the developed value and risk indicators.
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Contributor : Liaqat-Ali Shah Connect in order to contact the contributor
Submitted on : Friday, October 26, 2012 - 2:02:18 PM
Last modification on : Friday, August 5, 2022 - 2:54:00 PM
Long-term archiving on: : Sunday, January 27, 2013 - 3:41:38 AM


  • HAL Id : pastel-00745792, version 1


Liaqat-Ali Shah. Value-risk based performance evaluation of industrial systems. Other. Arts et Métiers ParisTech, 2012. English. ⟨NNT : 2012ENAM0033⟩. ⟨pastel-00745792⟩



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