Management of business processes using stochastic simulation

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F25720384%3A_____%2F20%3AN0000001" target="_blank" >RIV/25720384:_____/20:N0000001 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.1051/shsconf/20208301066" target="_blank" >https://doi.org/10.1051/shsconf/20208301066</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1051/shsconf/20208301066" target="_blank" >10.1051/shsconf/20208301066</a>

Result language
angličtina
Original language name
Management of business processes using stochastic simulation
Original language description
The paper deals with risks and uncertainties that are related to business processes. The risks and uncertainties (risk factors) can significantly influence organizational performance, value creation and long term-sustainability. Managers are often puzzled with making decisions in the environment of breakthrough discontinuities. The main outcome of the paper is the presentation of purposefully developed software tool that uses stochastic simulation of risks and uncertainties of business processes to support making optimum managerial decisions. This software is able to simulate any process risk factors that are describable by a mathematical model. The model was tested on the examples of production and investment cases. The research applied Business Process Modelling Notation Approach (BPMN) as well as mathematical and stochastic modelling. In addition, contextual interviews with company managers and risk specialists were used to get unbiased, reliable, and professional information on determination and analysis of process risk factors. The research was also supported by the evidence provided by the case study that illustrates software based decision-making process relating to opting for technology variant.
Czech name
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Czech description
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Project
<a href="/en/project/FV30110" target="_blank" >FV30110: Tools for the innovation and optimization of company processes performance within the framework of INDUSTRY 4.0</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year
2020
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Current Problems of the Corporate Sector 2020
ISBN
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ISSN
2261-2424
e-ISSN
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Number of pages
10
Pages from-to
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Publisher name
Katedra podnikovohospodárskej Fakulty podnikového manažmentu Ekonomickej univerzity v Bratislave
Place of publication
Bratislava
Event location
Bratislava
Event date
May 13, 2020
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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