Return on CPS (RoCPS): An Evaluation Model to Assess the Cost Effectiveness of Cyber-Physical Systems for Small and Medium-Sized Enterprises

Burggräf, Peter; Dannapfel, Matthias; Bertling, Matthias; Xu, Tingni

doi:10.23919/picmet.2018.8481980

Cited by 10 publications

(6 citation statements)

References 11 publications

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“…External factors include such conditions and circumstances generated in the external environment, regardless of the activities of a particular business entity and located outside it, which the enterprise cannot change, but due to their significant influence should be perceived as something unchanged. Directly external variables form risk-generating factors and directly causes of risks associated with uncertainty, complexity and dynamism of the external environment, which can lead to negative development of events and, as a result, to a negative deviation from the set goal, the plan for the implementation of the investment project or the general plan for the development of activities of construction enterprises (Vyatskova, 2015;Burggraf et al, 2018).…”

Section: Methodsmentioning

confidence: 99%

Features of the use of information modeling technology in the activities of the construction complex enterprises in risk conditions

Khrustalev

Grabovy

et al. 2022

Nexo Revista Científica

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The article is devoted to new scientific approaches and practical recommendations for the use of information modeling technology in the activities of the construction complex enterprises at the life cycle stages of the construction of real estate objects in risk conditions. Research methods are theoretical analysis and empirical research. The object of the study is the construction complex enterprises in the conditions of the factor space formation at all stages of the life cycle. Quantification of factors that influence the outcome. The article proposes new scientific and practical approaches to the functioning and development of the construction complex enterprises in risk conditions and uncertainty factors of construction production based on the use of information modeling technology and the use of effective models for managing the construction process. A flexible management model is proposed that allows you to respond to all changes in the external environment, to manage costs correctly, as well as the date limits of work and promptly adjust the progress of production processes in space and time when any types of risks occur.

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Section: Methodsmentioning

confidence: 99%

Features of the use of information modeling technology in the activities of the construction complex enterprises in risk conditions

Khrustalev

Grabovy

et al. 2022

Nexo Revista Científica

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“…The manifestation of cyber threats and the resulting damages to both financial and reputational themes have been recognized and highlighted (Eling & Schnell, 2016). Regional studies on cyber risks and SMEs Kent et al, 2016;Nycz et al, 2015;Asgary et al, 2020 Social engineering and SMEs Osei & Yeboah-boateng, 2013;Onwubiko & Lenaghan, 2007 Evaluation tools Benz & Chatterjee, 2020;Javaid & Iqbal, 2017;Burggraf et al, 2018 Business continuity Mallinder & Drabwell, 2013;Sadok & Bednar, 2016 Information security and SMEs Ključnikov et al, 2019;Yigit Ozkan et al, 2020;Brunner et al, 2018 In general, the topic of cybersecurity has been researched extensively, for example, the nature of cyber threats and their mitigation (Azmi et al, 2018;Kshetri, 2018;Nieto et al, 2019), human-computer interactions and resulting threats (Gupta et al, 2017;Heartfield et al, 2016;Krombholz et al, 2015), social engineering attacks (Gupta et al, 2017), technical aspects of cybersecurity (Stallings, 2019), standards, policies, andprocedures (Bozkus Kahyaoglu &Caliyurt, 2018), identity fraud management (Shah et al, 2019), and MCDA approach to cyber risk assessment (Ganin et al, 2020). These works though addressing different aspects of cybersecurity have been developed either in the context of larger firms or hypothetical examples.…”

Section: Literature Reviewmentioning

confidence: 99%

Cyber risk assessment in small and medium‐sized enterprises: A multilevel decision‐making approach for small e‐tailors

2023

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The role played by information and communication technologies in today's businesses cannot be underestimated. While such technological advancements provide numerous advantages and opportunities, they are known to thread organizations with new challenges such as cyberattacks. This is particularly important for small and medium-sized enterprises (SMEs) that are deemed to be the least mature and highly vulnerable to cybersecurity risks. Thus, this research is set to assess the cyber risks in online retailing SMEs (e-tailing SMEs). Therefore, this article employs a sample of 124 small etailers in the United Kingdom and takes advantage of a multi-criteria decision analysis (MCDA) method. Indeed, we identified a total number of 28 identified cyber-oriented risks in five exhaustive themes of "security," "dependency," "employee," "strategic," and "legal" risks. Subsequently, an integrated approach using step-wise weight assessment ratio analysis (SWARA) and best-worst method (BWM) has been employed to develop a pathway of risk assessment. As such, the current study outlines a novel approach toward cybersecurity risk management for e-tailing SMEs and discusses its effectiveness and contributions to the cyber risk management literature.

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“…Следует отметить, что приведенная выше формула является обобщением показателя эффективности внедрения киберфизических систем RoCPS (Return on CPS) в промышленном предприятии [31], который в динамической форме выглядит следующим образом:…”

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“…Замещение ручных операций автоматизированными операциями при цифровизации предприятия приводит как к повышению быстродействия при выполнении технологической операции, так и к снижению количества ошибок, связанных с человеческим фактором, и соответственно, снижению соответствующих затрат [31]. Можно привести следующие положительные эффекты от цифровизации:…”

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Economic and mathematical model of the technological process in the digitalization of an industrial enterprise

Ovchinnikov

2023

Druk. Vest.

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The paper analyzes existing approaches to assessing the degree of readiness of an enterprise for digital transformation in the form of various criteria for the effectiveness of implementing digital solutions in business processes during product development, production, further sales and after-sales service. For different stages of creating added value of a product, there is a wide range of different information systems (human resources and assets management, financial management, ensuring the operation of information collection and processing systems, etc.) that increase the efficiency of both production and management. The introduction of digital solutions, despite the high initial costs of software installation and staff training, ultimately increases the company's competitive advantage in the market. This is due both to the flexibility of the modernization of the technological process (as opposed to manual labor), and to a drastic reduction in errors related to the human factor and the corresponding costs for their correction. An approach is proposed to assess the effectiveness of digitalization measures in the form of alternative production operations on the technological process graph. With the help of multi-criteria optimization methods, many Pareto optimal solutions (digitalization options) are constructed. The ratio of the number of graph vertices (digital solutions) included in the optimal path in the graph to the total number of digital solutions is considered the level of readiness for digital transformation of the enterprise.

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Return on CPS (RoCPS): An Evaluation Model to Assess the Cost Effectiveness of Cyber-Physical Systems for Small and Medium-Sized Enterprises

Cited by 10 publications

References 11 publications

Features of the use of information modeling technology in the activities of the construction complex enterprises in risk conditions

Features of the use of information modeling technology in the activities of the construction complex enterprises in risk conditions

Cyber risk assessment in small and medium‐sized enterprises: A multilevel decision‐making approach for small e‐tailors

Economic and mathematical model of the technological process in the digitalization of an industrial enterprise

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