Affiliation:
1. Chandigarh University, India
Abstract
This chapter describes how risks are inherent in all systems. Risk is the ability of losing or gaining something of value. Values, like social status, financial wealth, or physical health, may be won or lost while taking threat as a result of a given movement. Risks also can be termed as the intentional interaction with ambiguity or uncertainty. Uncertainty is a capability, unpredictable, and uncontrollable final results; risk is an effect of action taken regardless of uncertainty. Extended Enterprise Systems (EESs) are defined as a complex structure of unique but interdependent and distributed organizational systems which are related in an autonomic manner to acquire goals beyond the reaching capacities of each. The purpose of this chapter is to estimate a set of critical risks that come across in proper logistics and the functioning of EESs. Identifying, analyzing and managing the risk in the EESs will result in an increase in the overall effectiveness and efficiency of the system. So, estimating risk could serve as the most important and powerful weapon in the hands of a decision maker of an EES.