The Need for an Enterprise Risk Management Framework for Big Data Science Projects

Jeffrey Saltz, Sucheta Lahiri

Abstract

This position paper explores the need for, and benefits of, a Big Data Science Enterprise Risk Management Framework (RMF). The paper highlights the need for an RMF for Big Data Science projects, as well as the gaps and deficiencies of current risk management frameworks in addressing Big Data Science project risks. Furthermore, via a systematic literature review, the paper notes a dearth of research which looks at risk management frameworks for Big Data Science projects. The paper also reviews other emerging technology domains, and notes the creation of enhanced risk management frameworks to address the new risks introduced due to that emerging technology. Finally, this paper charts a possible path forward to define a risk management framework for Big Data Science projects.

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