A Fuzzy Approach for Transactional Risk Management in E-Business Collaborations

Abstract

Risk Management is an important process to be carried out for any form of interaction before decision-making. This process will help the concerned user to take steps and actions accordingly in order to address risks and achieve the activity's desired goals. Various techniques and approaches for risk management have been discussed in the literature. But the process of risk management is not generic and it varies and changes according to the domain or purpose of the interaction for which it is being considered. E-business interactions are collaborative interactions that are mostly carried out over a virtual environment. But by considering the growth of e-business interactions, a process of risk management is needed by which the interacting user can actually minimize and lessen the level of risk before decision-making. In this paper, a quantitative approach for risk management in e-business interactions is proposed which the interacting user can utilize to lessen the level of risk and then make an interaction-based decision.