Mathematics of Risk Management using Unimodular Matrix. Interpolation and Numerical Simulations


Abstract views: 15 / PDF downloads: 0

Authors

  • Shkelqim Hajrulla Epoka University
  • Leonard Bezati University of Vlora
  • Elda Hysa Epoka University
  • Robert Kosova University “Aleksandër Moisiu” Durres
  • Taylan Demir Cankaya University
  • Loubna Ali Berlin School of Business and Innovation

Keywords:

Simulations, Numerical Results, Cost, Benefit, Risk, Urgency

Abstract

In this research, we review the state of mathematics of risk research in business, and we position
our intended contribution within the research space along the dimensions of decision support and its
application within numerical simulations to AI service management processes. The aim of this study is to
solve the problem of managing multifactorial risks using numerical methods to determine the optimal risk
management trajectories separately for each factor.
We start from a constructive and quantitative re-definition of some terms that are widely used in IT service
management. We show that the techniques we use - in particular the simulation of an IT organization
enacting the incident management process – bring considerable benefits both when the performance is
measured in terms of traditional IT metrics. IT service management processes and we present a
methodology and a tool consistent with the framework for approaching the general problem in that
particular one. The situation of risk involves the identification of several behaviors, during which one can
make a choice in the direction of risk or reliability.The solution is quite rich, and features components that
orchestrate together advanced techniques in visualization, simulation, data mining and operations research.

Downloads

Download data is not yet available.

Author Biographies

Shkelqim Hajrulla, Epoka University

Computer Engineering Department, Faculty of Engineering, Tirana, Albania

Leonard Bezati, University of Vlora

Department of Mathematics, Faculty of Technical Science, Albania

Elda Hysa, Epoka University

Computer Engineering Department, Faculty of Engineering, Albania

Robert Kosova, University “Aleksandër Moisiu” Durres

Department of Mathematics. Albania

Taylan Demir, Cankaya University

Department of Mathematics/Ankara, Turkey

Loubna Ali, Berlin School of Business and Innovation

Department of Informatics, Germany

References

Mthiyane, Zodwa, Huibrecht van der Poll, and Makgopa Tshehla. 2022. A framework for risk management in small medium enterprises in developing countries. Risks 10: 173. [Google Scholar] [CrossRef]

Nair, Anil, Elzotbek Rustambekov, Michael McShane, and Stav Fainshmidt. 2014. Enterprise Risk Management as a Dynamic Capability: A Test of Its Effectiveness During a Crisis. Managerial and Decision Economics 35: 555–66. [Google Scholar] [CrossRef]

Hajrulla, S., Bedalli, E., Kosova, R., Cela, M., & Ali, L. (2025). Dynamic processes through the mathematical models and numerical evaluations. Jurnal Ilmiah Ilmu Terapan Universitas Jambi, 9(1), 199-215.

Kosova, R., Naço, A., Hajrulla, S., & Kosova, A. M. (2024). Addressing Missing Data in Surveys and Implementing Imputation Methods with SPSS . International Journal of Advanced Natural Sciences and Engineering Researches, 8(2), 40–50. Retrieved from https://as-proceeding.com/index.php/ijanser/article/view/1695

Hajrulla, D., Bezati, L., Hajrulla, G., & Hajrulla, S. (2023). Interaction Between the Risk Management Determinants. Risk Management Results Under the Hypothesis Method. International Journal of Advanced Natural Sciences and Engineering Researches (IJANSER), 7(11), 301-306.

Kosova, R., Kapçiu, R., Hajrulla, S., & Kosova, A. M. (2023). The Collatz Conjecture:Bridging Mathematics and Computational Exploration with Python. International Journal of Advanced Natural Sciences and Engineering Researches (IJANSER), 7(11), 328-334.

Nosratabadi, S.; Mosavi, A.; Shamshirband, S.; Zavadskas, E.K.; Rakotonirainy, A.; Chau, K.W. Sustainable business models: A review. Sustainability 2019, 11, 1663. [CrossRef]

Hajrulla, S., Özer, Ö., & Demir, T. (2025). Polynomial Regression and Faster R-CNN Models for University Library Decision Implementation Discovery based on Deep Learning. WSEAS Transactions on Information Science and Applications, 22, 83-92.

Reka, A., Kosova, R., Hajrulla, S., & Kosova, A. M. (2025). The use of big data in insurance industry. A review of models, techniques and factors.

Hajrulla, S., Demir, T., Bezati, L., & Kosova, R. (2023). The impact of constructive learning applied to the teaching of numerical methods. CONSTRUCTIVE MATHEMATICS: FOUNDATION AND PRACTICE, 39.

R Kosova, R Kapçiu, S Hajrulla, AM Kosova - International Journal of Advanced Natural Sciences …, 2023

Alekseev, A. The additive-multiplicative fuzzy aggregation matrix mechanism and equivalent it’s the continuous mechanism. In Proceedings of the 12th International Scientific and Practical Conference “Modern Complex Control Systems 2017”, Lipetsk, Russia, 25–27 October 2017; Volume 1, pp. 15–20

Hajrulla, S., Bezati, L., & Hoxha, F. (2018). Application of Initial Boundary Value Problem on Logarithmic Wave Equation in Dynamics.

Risti´c, D. A tool for risk assessment. Saf. Eng. 2013, 3, 121–127. [CrossRef]

Comparison of Numerical Methods for SWW Equations. (2019). International Journal of Scientific Research and Management (IJSRM), 7(09), 166-180. https://doi.org/10.18535/ijsrm/v7i9.m01

Bezati, L., Hajrulla, S., & Hamzallari, B. Comparison of Numerical Methods for SWW Equations.

Sh, H., Bezati, L., & Hoxha, F. Water Wave Equation Arising On Logarithmic Quantum Mechanics.

HAJRULLA, S., & HAJRULLA, G. (2021). A Survey and Statistical Data of Math Economics Applications International Relations Triple-Purpose. PROCEEDINGS BOOK, 444.

Mazumder, M.; Hossain, D.M. Research on corporate risk reporting: Current trends and future avenues. J. Asian Financ. Econ.Bus. 2018, 5, 29–41. [CrossRef]

Yang, S.; Ishtiaq, M.; Anwar, M. Enterprise risk management practices and firm performance, the mediating role of competitiveadvantage and the moderating role of financial literacy. J. Risk Financ. Manag. 2018, 11, 35. [CrossRef]

Hajrulla, S., Osmani, D., Lino, V., Avdiu, D., & Hajrulla, D. (2022). A Statistical Method to Estimate An Unkonown Price in Financial Markets. PROCEEDINGS BOOK, 383.

Hsu, M.-F.; Hsin, Y.-S.; Shiue, F.-J. Business analytics for corporate risk management and performance improvement. Ann. Oper. Res. 2021, 315, 629–669. [CrossRef]

HAJRULLA, S., & HAJRULLA, G. (2021). Applying Math Economics Instructions on International Relations. PROCEEDINGS BOOK, 345.

Gracheva, M.V.; Sekerin, A.B.; Afanasyev, A.M.; Babaskin, S.Y.; Bykova, A.G.; Volkov, I.M.; Kopytin, K.V.; Nikitin, S.A.; Pervushin, V.A.; Svetlov, N.M.; et al. Risk-Management of Investment Project; Unity-Dana: Moscow, Russia, 2012; p. 544.

Hajrulla, S., Demir, T., Lino, V., & Ali, L. (2023). An approach to solving real-life problems using normal distribution. Approximation of results using the Lagrange-Euler method. International Journal of Advanced Natural Sciences and Engineering Researches (IJANSER), 7(10), 18-25.

Reka, A., Kosova, R., Hajrulla, S., & Kosova, A. M. (2025). The use of big data in insurance industry. A review of models, techniques and factors.

Hajrulla, S., Hajrulla, D., Lino, V., & Stojani, T. (2023). Statistical Data on Risk Management in University. Overview of Numerical Results. International Journal of Advanced Natural Sciences and Engineering Researches (IJANSER), 7(11), 13-19.

Kosova, R., Kapçiu, R., Hajrulla, S., & Kosova, A. M. (2023). A Revıew of Mathematical Conjectures: Exploring Engaging Topics for University Mathematics Students. International Journal of Advanced Natural Sciences and Engineering Researches (IJANSER), 7(11), 180-186.

Hajrulla, S., Hajrulla, D., Lino, V., & Hajrulla, G. (2023). Scientific Results Using Statistical Data on Economic Studies.

Villanueva, E.; Nuñez, M.A.; Martins, I. Impact of Risk Governance, Associated Practices and Tools on Enterprise Risk Manage-ment: Some Evidence from Colombia. Rev. Finanz. Política Económica 2022, 14, 187–206. [CrossRe]

Hajrulla, S., Demir, T., Bezati, L., Kosova, R., & Hajrulla, D. (2023). Unimodular Matrix On Compound Mathematical Structures Applications and Results.

Demir, Taylan & Hajrulla, Shkelqim. (2023). Discrete Fractional Operators and their applications. International Journal of Advanced Natural Sciences and Engineering Researches. 7. 289-294. 10.59287/as-ijanser.631.

Hajrulla, Shkelqim & Bezati, Leonard & Hajrulla, Desantila. (2024). Interaction Between the Risk Management Determinants. Risk Management Results Under the Hypothesis Method. International Journal of Advanced Natural Sciences and Engineering Researches. 7. 301-306. 10.59287/as-ijanser.633.

Demir, Taylan & Hajrulla, Shkelqim & Bezati, Leonard & Hajrulla, Desantila. (2023). Application of Numerical Methods in Design of Industrial Structures. International Journal of Advanced Natural Sciences and Engineering Researches. 7. 295-300. 10.59287/as-ijanser.632.

Hajrulla, S., Ali, L., & Souliman, N. (2023). NORMAL DISTRIBUTION ON ENERGY SAVING PROBLEMS FOR THE WIRELESS SENSOR NETWORK LIFE ON THE VACATION PERIOD. Journal of Natural Sciences & Mathematics (JNSM), 8.

Kosova, R., Kapçiu, R., Hajrulla, S., & Kosova, A. M. (2023). The Collatz Conjecture: Bridging Mathematics and Computational Exploration with Python.

Ali, L., Hajrulla, S., & Souliman, N. Reducing the Wireless Sensor Networks' delay by reducing program’s complexity and by using parallel processing mechanism. EMSJ journal.

Demir, T., & Hajrulla, S. Numerical methods on fractional Fourier transformation on Signal Processing.

Demir, T., Hajrulla, S., & Doğan, P. Using Special Functions on Grünwald-Letnikov and Riemann Liouville Fractional Derivative and Fractional Integral.

Demir, T., Hajrulla, S., & Doğan, P. Solutions of fractional-order differential equation on harmonic waves and linear wave equation.

Hajrulla, S., Demir, T., Bezati, L., & Hajrulla, D. 5th INTERNATIONAL ONLINE CONFERENCE ON MATHEMATICS.

Hajrulla, S., Abou Jaoudeh, G. M., Kosova, R., & Isufi, H. (2024). Optimization Problems through Numerical Methods and Simulations.

Kosova, R., Naço, A., Hajrulla, S., & Kosova, A. M. (2024). Addressing Missing Data in Surveys and Implementing Imputation Methods with SPSS. International Journal of Advanced Natural Sciences and Engineering Researches, 8(2), 40-50.

Hajrulla, S., Ali, L., Sari, B., & Kosova, R. (2024). Numerical Method Evaluation on Leveraging Machine-Learning Innovations for Improved Patient Care. Comparison of Numerical Results.

Stojani, T., Lino, V., Hajrulla, D., & Hajrulla, G. (2024). English Research Writing in Economics Studies. Statistics on Scientific Results . International Journal of Advanced Natural Sciences and Engineering Researches, 8(2), 235–240. Retrieved from https://as-proceeding.com/index.php/ijanser/article/view/1716

Hajrulla, Shkelqim & Sheko, Alma & Isufi, Henri & Bezati, Leonard & Lino, Vasil. (2024). Finite Difference Method and Numerical Simulations on Heat Transfer Problem.

Sina, Z., Kosova, R., Hajrulla, S., & Gjana, A. (2024). Analysis of High School STEM Program Impact on Students’ University Performance. International Journal of Advanced Natural Sciences and Engineering Researches, 8(7), 233-240.

Hajrulla, S., Sheko, A., Kosova, R., Ali, L., & Ozer, O. (2024). Discrete fractional numerical analysis on the shallow water wave theory.

Demir, T., Hajrulla, S., Ozer, O., Karadeniz, S., & James, O. O. C. (2024). Caputo Fractional Operator on shallow water wave theory. International Journal of Advanced Natural Sciences and Engineering Researches, 8(7), 1-41.

Kosova, R., Hajrulla, S., Kosova, A. M., Kodra, A., Xhafa, A., Kapxhiu, I., & Psatha, R. (2024). Creative programming. Assessing and improving mathematical algorithms with students. performance computing, 8, 10.

Lino, V., Hajrulla, S., Gjana, A., & Kosova, R. (2024). A didactic analysis for university exams.

Del, María & Molina González, María & Crespo, Julio & García Lirios, Cruz. (2024). RISK MANAGEMENT IN THE LITERATURE FROM 2020 TO 2024.

Aikpokhio B.N., Gambo N., Ogedengbe F.A., and Nwoye M.I. (2024) Risk Management Practices and Performance of Construction Projects: Evidence from Selected Estate Management Companies in FCT Abuja, European Journal of Logistics, Purchasing and Supply Chain Management, Vol.12 No.1, pp.1-19

Gleißner W, Berger TB. Enterprise Risk Management: Improving Embedded Risk Management and Risk Governance. Risks. 2024; 12(12):196. https://doi.org/10.3390/risks12120196

Stein, Volker, Arnd Wiedemann, and Christiane Bouten. 2019. Framing Risk Governance. Management Research Review 42: 1224–42. [Google Scholar]

Zou, Xiang, Che Isa, and Mahfuzur Rahman. 2019. Valuation of Enterprise Risk Management in the Manufacturing Industry. Total Quality Management and Business Excellence 30: 1389–410. [Google Scholar] [CrossRef]

Silva, Juliano, Aldy da Silva, and Betty Chan. 2019. Enterprise Risk Management and Firm Value: Evidence from Brazil. Emerging Markets Finance and Trade 55: 687–703. [Google Scholar] [CrossRef]

Rossi, Matteo. 2016. The Capital Asset Pricing Model: A Critical Literature Review. Global Business and Economics Review 18: 604–17. [Google Scholar] [CrossRef]

S&P Global. 2005. Evaluating the Enterprise Risk Management Practices of Insurance Companies. Standard and Poor’s RatingsDirect, October 17. [Google Scholar]

Robert, K. O. S. O. V. A., Evgjeni, X. H. A. F. A. J., Alma, S. T. A. N. A., Valentina, S. H. E. H. U., Adrian, N. A. Ç. O., & Agim, Y. M. E. R. I. (2015). MONTE CARLO SIMULATION FOR ESTIMATING GEOLOGIC OIL RESERVES. A CASE STUDY FROM KUÇOVA OILFIELD IN ALBANIA. Oltenia, Studii si Comunicari Seria Stiintele Naturii, 31(1).

Orlando, Albina. 2021. Cyber risk quantification: Investigating the role of cyber value at risk. Risks 9: 184. [Google Scholar] [CrossRef]

MONTE CARLO SIMULATION FOR ESTIMATING GEOLOGIC OIL RESERVES. A CASE STUDY FROM

KUÇOVA OILFIELD IN ALBANIA. K Robert, X Evgjeni, S Alma, S Valentina, N Adrian... - Oltenia, Studii si Comunicari

Seria Stiintele Naturii, 2015

Otero González, Luís, Pablo Santomil, and Aracely Herrera. 2020. The Effect of Enterprise Risk Management on the Risk and the Performance of Spanish Listed Companies. European Research on Management and Business Economics 26: 111–20. [Google Scholar] [CrossRef]

Kosova, R. (2023). Math conjectures with Python. In Annual Internationale Conference of Public University “Kadri Zeka” in Gjilan–UKZ AC2023. P (p. 40).

Nguyen, Duc, and Dinh-Tri Vo. 2020. Enterprise Risk Management and Solvency: The Case of the Listed EU Insurers. Journal of Business Research 113: 360–69. [Google Scholar] [CrossRef]

Monte Carlo simulation for estimating geologic oil reserves. A case study from Kucova Oilfield in Albania R

Kosova, V Shehu, A Naco, E Xhafaj, A Stana... – Muzeul Olteniei Craiova. Oltenia. Studii şi comunicări ..., 2015

Nocco, Brian, and René Stulz. 2022. Enterprise Risk Management: Theory and Practice. Journal of Applied Corporate Finance 34: 81–94. [Google Scholar] [CrossRef]

Bonate, Peter. (2001). A Brief Introduction to Monte Carlo Simulation. Clinical pharmacokinetics. 40. 15-22. 10.2165/00003088-200140010-00002.

Downloads

Published

2025-04-23

How to Cite

Hajrulla, S., Bezati, L., Hysa, E., Kosova, R., Demir, T., & Ali, L. (2025). Mathematics of Risk Management using Unimodular Matrix. Interpolation and Numerical Simulations . International Journal of Advanced Natural Sciences and Engineering Researches, 9(4), 96–107. Retrieved from https://as-proceeding.com/index.php/ijanser/article/view/2630

Issue

Section

Articles