Change Convergence Risk Mapping System
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Solution Overview
Problem
Current systems for assessing business risks associated with events lack an effective method to detect the convergence of risks across multiple events, which can lead to unforeseen high-risk periods.
Innovation Solution
A change convergence risk mapping system that includes a processor and memory, featuring a risk aggregation module to receive event information, calculate event risk scores, aggregate scores by time period, and graphically present risk levels, allowing for timely risk mitigation strategies.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If multiple event risk scores are aggregated to identify high-risk periods, then risk detection capability is improved, but system complexity increases
Solution Approach 1:
The system segments risk assessment into individual event risk scores, each calculated independently based on specific event characteristics. These segmented scores are then aggregated by time period to identify convergence risks. This segmentation allows precise measurement of each event's contribution to overall risk while maintaining manageable system complexity through modular processing.
Solution Approach 2:
The system merges multiple individual event risk scores into aggregated time period scores to identify patterns of risk convergence. By combining discrete event assessments into temporal aggregations, the system detects high-risk periods that would be invisible when examining events in isolation, thereby improving overall risk detection capability.
2Loss of time
If real-time risk aggregation is performed across multiple events, then risk mitigation timing is improved, but computational resource consumption increases
Solution Approach 1:
The system performs preliminary risk score calculations for individual events as they are identified, rather than waiting to aggregate all events before assessment. This preliminary action on individual event scores enables faster detection of risk convergence patterns and allows earlier mitigation planning, reducing the time loss while managing computational load through incremental processing.
Data Source
AI summary
Disclosed is a change convergence risk mapping system. The change convergence risk mapping system typically includes a processor, a memory, and a risk aggregation module stored in the memory. The change convergence risk mapping system is typically configured for: determining an event risk score for each of a plurality of events; aggregating the event risk scores of the plurality of events and determining a first aggregated risk score associated with a first time period; determining if the first aggregated risk score exceeds a first predefined aggregated risk score threshold or if a first predefined number of events associated with the first time period have an event risk score exceeding a first predefined event risk score threshold; determining a risk level for the first time period; and graphically presenting a first indicator to a user computing system of the risk level associated with the first time period.