Risk Assessment Phase: Transactional Risk Assessment in Business Activities
In the previous two chapters, we proposed an approach by which each subcategory of perceived transactional risk (transactional risk), namely performance risk and financial risk in a business activity, can be determined by considering its context, assessment criteria and dynamic specific characteristics. The next step in the process of transactional risk assessment is to assimilate the determined analysis of the subcategories and ascertain the degree of risk. The determined risk level represents the combined effect of the level of failure and the associated consequences in forming a business association with the risk assessed agent. This will form important input into the next two phases, namely transactional risk evaluation and risk management (or risk treatment), which are important steps in the process of risk analysis. In this chapter, we present an approach by which the risk assessing agent can determine the degree of transactional risk in forming a business activity with a risk assessed agent.
KeywordsMembership Function Business Activity Fuzzy Inference System Linguistic Representation Business Association
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