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Indeed, a recent empirical examination by Shih, Samad-Khan, and Medapa (2000) suggests that little of the variability in the size of operational losses is explained by the size of a rm revenue, assets, or number of employees3 Moreover, such an approach runs the risk of setting up perverse incentives a nancial institution that dramatically improves the management and control of its operational risk could actually be penalized by being required to hold more capital, if the improvements lead to an increase in the volume of the institution s business Most of the published descriptions of operational risk modeling subdivide the models into two groups: Top-down models estimate operational risk for the entire institution Bottom-up models estimate operational risk at the individual business unit or process level.



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Moreover, the models could appropriately be subdivided on another dimension within the two groups, three approaches to modeling operational risk can be identi ed: 1 The approach I refer to as the Process Approach focuses on the individual processes that make up the nancial institution s operational activities (Because of this focus, all the process approaches are bottom-up approaches) In the same way that an industrial engineer examines a manufacturing process, individual operational processes in the nancial institution are mapped (decomposed) to highlight the components that make up the process For example, Exhibit 8A1 provides a process map for a transaction settlement Each of the components of the process is examined to identify the operational risk associated with the component (eg, in the case of Exhibit 8A1, the number of days necessary to complete the process) By aggregating the operational risk inherent in the individ-.





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Procedural Safeguards The procedural safeguards under Part C are similar to those under Part B. Parents are afforded the right to confidentiality of personally identifiable information; the right to examine records; the right to consent to or decline any early intervention service without jeopardizing the right to other services; the right to written prior notice before changes are made in identification, evaluation, placement, or provision of services; the right to use mediation; the right to timely administrative resolution of complaints; and the right to bring civil action in state or federal court (34 C.F.R. 303.400 303.406).

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If you re the leader, especially of a regularly-scheduled conference call, make it a habit to start on time. Stragglers will soon learn they should be on time if they want to know what s going on. You can even give participants forewarning of your punctuality in the email invite to the call: tell them the conference call is scheduled for 10 AM and begins promptly at 10:02. Then keep your word. Know when you should cancel and reschedule due to no-shows. Ten minutes is reasonable unless the person in question is very important. Ideally, shoot off a quick email or IM to the laggard and see if they re still planning to attend. You should probably stay on the call for the fully-scheduled time and perhaps even longer if you re waiting for the CEO of a Fortune 500 company. Before launching into discussion, review the purpose, agenda, and duration of the meeting. This keeps the meeting focused and notifies the attendees that you care about staying on track.

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which are usually valid However the major problem of judicial decision-making, conceived as anchoring narratives, is that plausibility and anchoring do not require the logical exclusion of other and perhaps better narratives This view of how judicial decision-making actually occurs pays full homage to the psychological rather than the logic aspect of decision-making Anchoring can countenance, and in fact implies, all the heuristics and mental shortcuts and biases that were outlined above In this sense then psychology and law are brought closer together by this theory The key point is that this theory of judicial reasoning can be seen as the logical end point of all the dif culties that psychology has shown humans to have with the need for in nite rationality, unlimited cognitive capacity and totally objective reasoning Now embedded in what has been said above, is an implicit argument against the use of expert (psychological) evidence.

In many countries, and many jurisdictions, the argument has been debated that, in the light of psychological evidence, only the admission of expert opinion can help to stave off the fallible decision-making that is replete in legal cases A case in point would be the common belief exhibited by courts in eyewitness testimony Eyewitness evidence can have a very powerful effect in court requiring no further grounding or anchoring, especially if the Turnbull conditions have been met However, for some time now, the veracity of eyewitness testimony has been questioned by experimental psychology (Clifford and Bull, 1978; Loftus, 1979; Yarmey, 1979) but, in turn, this questioning has been the site of contestation in several journals (eg Law and Human Behaviour, 1986; American Psychologist, 1993; Expert Evidence, 1996/7; Clifford, 1997; Yarmey, 1996; Ebbesen and Konecni, 1996).

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