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This book presents a theoretical research framework that was used to analyse operational risk management practices in Australia. It provides a new perspective on how to use national and international operational management system standards as a basis for systematic management of operational risks. Based on the extensive literature review and an analysis of operational risk management practices that are common in Australian organisations, undertaken as part of a PhD study, this book identifies the critical success factors for implementing an operational risk management system. The framework proposed in this book should assist organisations to manage operational risks more effectively and could also be used as a model to research operational risk management system applications in other countries.

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Dr Thitima Pitinanondha is currently a Senior Analyst at the Defence Science and Technology Organisation, part of the Australian Department of Defence. She holds a PhD and a Master of Engineering Management from the University of Technology, Sydney, and a Bachelor of Computer Engineering from the Assumption University, Bangkok.

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