Posted by: Robert Davis
Compliance Management, Control System, Decision Support Systems, Decision Techniques, DSS, Game Theory, Information System, Linear Programming, Operations Research, Quality of Management
Generally, supporting decisions with software and hardware is wholly inadequate if there is no specific idea about the kinds of decisions to be made. There are different types of decisions regarding compliance. The first type, routine decisions, is commonly treated within the entity’s framework of policies and procedures. The second type, non-routine decisions, typically requires one-time or non-repetitive solutions based on environmental considerations. The third type, non-routine motley decisions, is generally ill-structured, complex, one-of-kind situations that rely on optimal responses through scientific assessments. Nevertheless, decision techniques have become largely synonymous with quantitative approaches or mathematical analysis; well suited for IT processes. Some types of the latter are financial and statistical analysis that depending on the circumstances may be addressed through game theory, linear programming, simulation, and operations research.
“View Part I of the Compliance through Automation: Decision Support Systems series here“