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Journal Article

Using Value‑at‑Risk for ISIT Project and Portfolio Appraisal and Risk Management  pp1-6

Stefan Koch

© Mar 2006 Volume 9 Issue 1, Editor: Dan Remenyi, pp1 - 43

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Abstract

This paper makes the case for adopting a risk measure from the finance sector for ISIT project and portfolio evaluation. The proposed value‑at‑risk approach constitutes a well‑tested approach in high‑risk environments, especially banking, and reports the expected maximum loss (or worst loss) over a target horizon within a given confidence interval. Value‑at‑risk is computed using either an analytical, parametric approach, or resorting to simulation, either based on historical samples or Monte Carlo methods. The main advantages of using value‑at‑risk measures are that they are methodologically consistent with modern ISIT evaluation approaches like real options, that they offer possibilities for management and assessment of ISIT project portfolios, and that the results are easy to interpret.

 

Keywords: IT investment, risk management, value-at-risk, project portfolio

 

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Journal Issue

Volume 9 Issue 2 / Nov 2006  pp45‑104

Editor: Dan Remenyi

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Editorial

Once again we have received an interesting range of research papers from authors around the world and furthermore they continue to represent a very wide range of thought with regards to the different applications of evaluation thinking for information and communication technology. It is clear that this field has not yet produced a clear consensus as to any particular methodology and I for one believe that this is what one might loosely call a “good thing”.

Six papers have been selected by our reviewers through the process or double‑blind peer review and this has produced six very interesting and yet different papers from authors in Sweden, Spain, The Netherlands, Ireland and Greece.

I trust readers will find these pieces of research as interesting as I have.

 

Keywords: IS integration, activity-based costing, assessment, business evaluation, cost management systems, e-business, e-commerce, enterprise modelling, evaluation framework, event study methodology, information systems effectiveness, information systems management, information systems quality, information technology productivity paradox, internet business, IS success, IT investment, process capability, project portfolio, risk management, software process maturity, system analysis metrics, value-at-risk, web-facilitated business

 

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