Download or read book Understanding and Managing Model Risk written by Massimo Morini and published by John Wiley & Sons. This book was released on 2011-10-20 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to the validation and risk management of quantitative models used for pricing and hedging Whereas the majority of quantitative finance books focus on mathematics and risk management books focus on regulatory aspects, this book addresses the elements missed by this literature--the risks of the models themselves. This book starts from regulatory issues, but translates them into practical suggestions to reduce the likelihood of model losses, basing model risk and validation on market experience and on a wide range of real-world examples, with a high level of detail and precise operative indications.
Download or read book Managing Model written by Danny G Langdon and published by eBook Partnership. This book was released on 2018-07-29 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: Langdon is a systems kind of guy who hates meetings, isn't fond of working, and can't stand work stupidity. Sitting through tons of meetings and experiencing numerous management approaches that essentially did little to improve work effectiveness, he could have dropped out to become a guitar-playing hippie. Not his style though...instead he invented a work system-a Language of WorkTM-that would allow everyone to see work quickly in the same way, and create good solutions together. Using the Language of Work Formula allowed emotional displays, political posturing, and irrelevant thoughts to disappear from the discussions. Instead, everyone's point of view was visible. He and his business partner taught the Work Formula in 10 short minutes, then engaged clients to create clear job and work group models that managers could facilitate. In response to this acceptance and on the verge of actual retirement, the Langdons have produced The Work Trilogy-a legacy of practical knowledge and practice for executives, managers, and workers. The Managing Model helps managers enhance their facilitation of teams, big and small. A series of Work Analytic Tools applies the Work Formula to various management functions with greater ease, collaboration, and commitment from your team. Managers are encouraged to read The Working Model as well to facilitate work hand-in-hand with workers through a shared Language of Work. This is a management book unlike any you have read before. Its approach is systematic and systemic. Its focus is on operational soundness. It is practical and concrete, based on cause and effect of work as you manage others.
Download or read book Managing Model Risk written by Bart Baesens and published by . This book was released on 2021-06-30 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: Get up to speed on identifying and tackling model risk! Managing Model Risk provides data science practitioners, business professionals and analytics managers with a comprehensive guide to understand and tackle the fundamental concept of analytical model risk in terms of data, model specification, model development, model validation, model operationalization, model security and model management. Providing state of the art industry and research insights based on the author''s extensive experience, this illustrated textbook has a well-balanced theory-practice focus and covers all essential topics. Key Features: Extensive coverage of important trending topics and their risk impact on analytical models, starting from the raw data up until the operationalization, security and management. Various examples and case studies to highlight the topics discussed. Key references to background literature for further clarification. An online website with various add-ons and recent developments: www.managingmodelriskbook.com. What Makes this Book Different? This book is based on both authors having worked in analytics for more than 30 years combined, both in industry and academia. Both authors have co-authored more than 300 scientific publications on analytics and machine learning and have worked with firms in different industries, including (online) retailers, financial institutions, manufacturing firms, insurance providers, governments, etc. all over the globe estimating, deploying and validating analytical models. Throughout this time, we have read many books about analytical modeling and data science, which are typically written from the perspective of a theorist, providing lots of details with regards to different model algorithms and related mathematics, but with limited attention being given to how such models are used in practice. If such concerns are tackled, it is mainly from an implementation, use case or data engineering perspective. From our own experience, however, we have encountered many cases where analytics, AI, machine learning etc. fail in organizations, even with skilled people working on them, due to a myriad of reasons: bad data quality, difficulties in terms of model deployment, lack of model buy-in, incorrect definitions of underlying goals, wrong evaluation metrics, unrealistic expectations and many other issues can arise which cause models to fail in practice. Most of these issues have nothing to do with the actual algorithm being used to construct the model, but rather with everything else surrounding it: data, governance, maintenance, business, management, the economy, budgeting, culture etc. As such, we wanted to offer a new perspective with this book: it aims to provide a unique mix of both practical and research-based insights and report on do''s and don''ts for model risk management. Model risk issues are not only highlighted but also recommendations are given on how to deal with them, where possible. Target Audience This book is targeted towards everyone who has previously been exposed to both predictive and descriptive analytics. The reader should hence have some basic understanding of the analytics process model, the key activities of data preprocessing, the steps involved in developing a predictive analytics model (using e.g. linear or logistic regression, decision trees, etc.) and a descriptive analytics model (using e.g. association or sequence rules or clustering techniques). It is also important to be aware of how an analytical model can be properly evaluated, both in terms of accuracy and interpretation. This book aims to offer a comprehensive guide for both data scientists as well as (C-level) executives and data science or engineering leads, decision-makers and managers who want to know the key underlying concepts of analytical model risk.
Download or read book Understanding and Managing Model Risk written by Massimo Morini and published by John Wiley & Sons. This book was released on 2011-11-07 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to the validation and risk management of quantitative models used for pricing and hedging Whereas the majority of quantitative finance books focus on mathematics and risk management books focus on regulatory aspects, this book addresses the elements missed by this literature--the risks of the models themselves. This book starts from regulatory issues, but translates them into practical suggestions to reduce the likelihood of model losses, basing model risk and validation on market experience and on a wide range of real-world examples, with a high level of detail and precise operative indications.
Download or read book The Google Model written by Annika Steiber and published by Springer Science & Business Media. This book was released on 2014-04-14 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shows how companies like Google have reinvented the common practice in management in order to continuously innovate in fast changing industries. With the ever-increasing pace of change, reinventing existing management principles could become a necessity and prove crucial in the long-term competitiveness of many companies. The book presents a unique synthesis of findings from leading research on long-term competitiveness in fast changing industries. The core of the study comprises an exclusive 1-year in-depth research study on the drivers of innovation at Google and includes examples on how Google has translated the reinvented management principles into practice. The book also offers key action-points to help practitioners in reinventing their own management models for continuous innovation.
Download or read book Model Management and Analytics for Large Scale Systems written by Bedir Tekinerdogan and published by Academic Press. This book was released on 2019-09-14 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: Model Management and Analytics for Large Scale Systems covers the use of models and related artefacts (such as metamodels and model transformations) as central elements for tackling the complexity of building systems and managing data. With their increased use across diverse settings, the complexity, size, multiplicity and variety of those artefacts has increased. Originally developed for software engineering, these approaches can now be used to simplify the analytics of large-scale models and automate complex data analysis processes. Those in the field of data science will gain novel insights on the topic of model analytics that go beyond both model-based development and data analytics. This book is aimed at both researchers and practitioners who are interested in model-based development and the analytics of large-scale models, ranging from big data management and analytics, to enterprise domains. The book could also be used in graduate courses on model development, data analytics and data management. - Identifies key problems and offers solution approaches and tools that have been developed or are necessary for model management and analytics - Explores basic theory and background, current research topics, related challenges and the research directions for model management and analytics - Provides a complete overview of model management and analytics frameworks, the different types of analytics (descriptive, diagnostics, predictive and prescriptive), the required modelling and method steps, and important future directions
Download or read book Managing Complex Projects written by Kathleen B. Hass and published by Berrett-Koehler Publishers. This book was released on 2008-10 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: For organizations to thrive, indeed to survive, in today's global economy, we must find ways to dramatically improve the performance of large-scale projects. Applying the concepts of complexity theory can complement conventional project management approaches and enable us to adapt to the unrelenting change that we ignore at our own peril. Managing Complex Projects: A New Model offers an innovative way of looking at projects and treating them as complex adaptive systems. Applying the principles of complexity thinking will enable project managers and leadership teams to manage large-scale initiatives successfully. • Explore how complexity thinking can be used to find new, creative ways to think about and manage projects • Diagnose complexity on a wide range of projects — from small, independent, short projects to highly complex, longer projects • Understand and manage the complexity of the business problem, opportunity, solution, and other dimensions that come into play when managing large-scale efforts Use the Project Complexity Model to determine the most effective approach to managing all aspects of a project based on the level of complexity involved.
Download or read book The Silicon Valley Model written by Annika Steiber and published by Springer. This book was released on 2015-12-11 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a new management model that has evolved in Silicon Valley. The future will favor companies that can migrate to a management model, better suited for the times. The abilities to remain entrepreneurial and innovate constantly will be essential for all companies in an innovation economy. However, most firms still use industrial-age management models that are not suited to attracting and energizing entrepreneurial talent. This book imbibes latest results from a year-long study of Google’s approaches to management, and finds similar principles being applied at companies including, Facebook, LinkedIn, Twitter, Tesla Motors, and Apigee. By distilling on the aspects that work across a variety of innovative firms, the authors present a synthesis that could have profound implications for managers everywhere.
Download or read book Organizational Systems written by Raul Espejo and published by Springer Science & Business Media. This book was released on 2011-04-01 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Organizational Systems clarifies the application of cybernetic ideas, particularly those of Beer's Viable System Model, to organizational diagnosis and design. Readers learn to appreciate the relevance of seeing the systemic coherence of the world. The book argues that many of the problems we experience today are routed in our practice of fragmenting that needs to be connected as a whole. It offers a method to study and design organizations and a methodology to deal with implementation problems. It is the outcome of many years of working experience with government offices as well as with all kinds of public and private enterprises. At a more detailed level this book offers an in depth discussion of variety engineering that is not available either in the primary or secondary literature.
Download or read book Generic Model Management written by Sergey Melnik and published by Springer Science & Business Media. This book was released on 2004-04-28 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many challenging problems in information systems engineering involve the manipulation of complex metadata artifacts or models, such as database schema, interface specifications, or object diagrams, and mappings between models. Applications solving metadata manipulation problems are complex and hard to build. The goal of generic model management is to reduce the amount of programming needed to solve such problems by providing a database infrastructure in which a set of high-level algebraic operators are applied to models and mappings as a whole rather than to their individual building blocks. This book presents a systematic study of the concepts and algorithms for generic model management. The first prototype of a generic model management system is described, the algebraic operators are introduced and analyzed, and novel algorithms for implementing them are developed. Using the prototype system and the operators presented, solutions are developed for several practically relevant problems, such as change propagation and reintegration.
Download or read book Using the Project Management Maturity Model written by Harold Kerzner and published by John Wiley & Sons. This book was released on 2011-11-29 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: Updated for today's businesses-a proven model FOR assessment and ongoing improvement Using the Project Management Maturity Model, Second Edition is the updated edition of Harold Kerzner's renowned book covering his Project Management Maturity Model (PMMM). In this hands-on book, Kerzner offers a unique, industry-validated tool for helping companies of all sizes assess and improve their progress in integrating project management into every part of their organizations. Conveniently organized into two sections, this Second Edition begins with an examination of strategic planning principles and the ways they relate to project management. In the second section, PMMM is introduced with in-depth coverage of the five different levels of development for achieving maturity. Easily adaptable benchmarking instruments for measuring an organization's progress along the maturity curve make this a practical guide for any type of company. Complete with an associated Web site packed with both teaching and learning tools, Using the Project Management Maturity Model, Second Edition helps managers, engineers, project team members, business consultants, and others build a powerful foundation for company improvement and excellence.
Download or read book Model Risk Management written by Ludger Rüschendorf and published by Cambridge University Press. This book was released on 2024-01-31 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: Develop the tools to quantify model risk, to study its effects in finance, insurance, and engineering, and to reduce it.
Download or read book Data Model Patterns A Metadata Map written by David C. Hay and published by Elsevier. This book was released on 2010-07-20 with total page 427 pages. Available in PDF, EPUB and Kindle. Book excerpt: Data Model Patterns: A Metadata Map not only presents a conceptual model of a metadata repository but also demonstrates a true enterprise data model of the information technology industry itself. It provides a step-by-step description of the model and is organized so that different readers can benefit from different parts. It offers a view of the world being addressed by all the techniques, methods, and tools of the information processing industry (for example, object-oriented design, CASE, business process re-engineering, etc.) and presents several concepts that need to be addressed by such tools. This book is pertinent, with companies and government agencies realizing that the data they use represent a significant corporate resource recognize the need to integrate data that has traditionally only been available from disparate sources. An important component of this integration is management of the "metadata" that describe, catalogue, and provide access to the various forms of underlying business data. The "metadata repository" is essential to keep track of the various physical components of these systems and their semantics. The book is ideal for data management professionals, data modeling and design professionals, and data warehouse and database repository designers. - A comprehensive work based on the Zachman Framework for information architecture—encompassing the Business Owner's, Architect's, and Designer's views, for all columns (data, activities, locations, people, timing, and motivation) - Provides a step-by-step description of model and is organized so that different readers can benefit from different parts - Provides a view of the world being addressed by all the techniques, methods and tools of the information processing industry (for example, object-oriented design, CASE, business process re-engineering, etc.) - Presents many concepts that are not currently being addressed by such tools — and should be
Download or read book Model Risk Management with SAS written by SAS and published by SAS Institute. This book was released on 2020-06-29 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cut through the complexity of model risk management with a guide to solutions from SAS! There is an increasing demand for more model governance and model risk awareness. At the same time, high-performing models are expected to be deployed faster than ever. SAS Model Risk Management is a user-friendly, web-based application that facilitates the capture and life cycle management of statistical model-related information. It enables all stakeholders in the model life cycle — developers, validators, internal audit, and management – to get overview reports as well as detailed information in one central place. Model Risk Management with SAS introduces you to the features and capabilities of this software, including the entry, collection, transfer, storage, tracking, and reporting of models that are drawn from multiple lines of business across an organization. This book teaches key concepts, terminology, and base functionality that are integral to SAS Model Risk Management through hands-on examples and demonstrations. With this guide to SAS Model Risk Management, your organization can be confident it is making fact-based decisions and mitigating model risk.
Download or read book Business Model Management written by Bernd W. Wirtz and published by Springer Nature. This book was released on 2020-09-30 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: “How are business models purposeful designed and structured? How can the models be implemented professionally and managed successfully and sustainably? In what ways can existing business models be adapted to the constantly changing conditions? In this clearly structured reference work, Bernd W. Wirtz gives an answer to all these issues and provides the reader with helpful guidance. Although, ‘Business Model Management’ is first and foremost a scientific reference book, which comprehensively addresses the theory of business models, with his book Bernd W. Wirtz also turns to practitioners. Not least, the many clearly analyzed case studies of companies in different industries contribute to this practical relevance. My conclusion: ‘Business Model Management’ is an informative and worthwhile read, both for students of business administration as a textbook as well as for experienced strategists and decision makers in the company as a fact-rich, practical compendium.” Matthias Müller, Chief Executive Officer Porsche AG (2010-2015), Chief Executive Officer (2015-2018) Volkswagen AG “In dynamic and complex markets a well thought out business model can be a critical factor for the success of a company. Bernd Wirtz vividly conveys how business models can be employed for strategic competition and success analysis. He structures and explains the major theoretical approaches in the literature and practical solutions in an easy and understandable way. Numerous examples from business practice highlight the importance of business models in the context of strategic management. The book has the potential to become a benchmark on the topic business models in the German-speaking world.” Hermann-Josef Lamberti, Member of the Board Deutsche Bank AG 1999-2012/ Member of the Board of Directors, Airbus Group “The business environment has become increasingly complex. Due to changing conditions, the executive board of a company is confronted with growing challenges and increasing uncertainty. Thus, a holistic understanding of the corporate production and performance systems is becoming more and more important. At this point, Bernd W. Wirtz introduces and presents the concept of the structured discussion of the own business model. Business models present operational service processes in aggregated form. This holistic approach channels the attention of management, supports a sound understanding of relationships and facilitates the adaption of the business to changing conditions. The management of business models is thus an integrated management concept. Through the conceptual presentation of complex issues the author makes a valuable contribution to the current literature. In particular, the referenced case studies from various industries make the book clear and very applicable to practice.” Dr. Lothar Steinebach, Member of the Board, Henkel AG 2007-2012/ Supervisory Board, ThyssenKrupp AG
Download or read book Model Risk written by Harald Scheule and published by . This book was released on 2010 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book aims to provide solutions on how to include model risk into existing risk measurement frameworks. It also aims to provide solutions on how to build models of higher accuracy and thus lower model risk.
Download or read book Model Driven Software Development written by Markus Völter and published by John Wiley & Sons. This book was released on 2013-06-26 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: Model-Driven Software Development (MDSD) is currently a highly regarded development paradigm among developers and researchers. With the advent of OMG's MDA and Microsoft's Software Factories, the MDSD approach has moved to the centre of the programmer's attention, becoming the focus of conferences such as OOPSLA, JAOO and OOP. MDSD is about using domain-specific languages to create models that express application structure or behaviour in an efficient and domain-specific way. These models are subsequently transformed into executable code by a sequence of model transformations. This practical guide for software architects and developers is peppered with practical examples and extensive case studies. International experts deliver: * A comprehensive overview of MDSD and how it relates to industry standards such as MDA and Software Factories. * Technical details on meta modeling, DSL construction, model-to-model and model-to-code transformations, and software architecture. * Invaluable insight into the software development process, plus engineering issues such as versioning, testing and product line engineering. * Essential management knowledge covering economic and organizational topics, from a global perspective. Get started and benefit from some practical support along the way!
