A systemic approach to managing risks of SoS

Abstract

The ever increasing complexity of the current dynamic environment, results in the need to engineer multiple integrated complex systems, which coexist to obtain a common goal and are known as System of Systems (SoS). In order to address the risk management challenges posed by a SoS, a holistic approach is needed, which deals with a risk that could be greater than the sum of its individual constituent risks. This paper focuses on a comparative analysis of systemic risk management with the traditional aspect being currently undertaken for SoS. This paper also highlights the importance of the application of systemic risk in the SoS domain and the understanding of interconnectedness between the various constituents of the systemic risk.