WorldWideScience

Sample records for based risk management

  1. Process-based project proposal risk management

    Directory of Open Access Journals (Sweden)

    Alok Kumar

    2016-12-01

    Full Text Available We all are aware of the organizational omnipresence. Projects within the organizations are ubiquitous too. Projects achieve their goals successfully if they are planned, scheduled, controlled and implemented well. The project lifecycle of initiating, planning, scheduling, controlling and implementing are very well-planned by project managers and the organizations. Successful projects have well-developed risk management plans to deal with situations impacting projects. Like any other organisation, a university does try to access funds for different purposes too. For such organisations, running a project is not the issue, rather getting a project proposal approved to fund a project is the key. Project proposal processing is done by the nodal office in every organisation. Usually, these nodal offices help in administration and submission of a project proposal for accessing funds. Seldom are these nodal project offices within the organizations facilitate a project proposal approval by proactively reaching out to the project managers. And as project managers prepare project proposals, little or no attention is made to prepare a project proposal risk plan so as to maximise project acquisition. Risk plans are submitted while preparing proposals but these risk plans cater to a requirement to address actual projects upon approval. Hence, a risk management plan for project proposal is either missing or very little effort is made to treat the risks inherent in project acquisition. This paper is an integral attempt to highlight the importance of risk treatment for project proposal stage as an extremely important step to preparing the risk management plan made for projects corresponding to their lifecycle phases. Several tools and techniques have been proposed in the paper to help and guide either the project owner (proposer or the main organisational unit responsible for project management. Development of tools and techniques to further enhance project

  2. Big data based fraud risk management at Alibaba

    OpenAIRE

    Chen, Jidong; Tao, Ye; Wang, Haoran; Chen, Tao

    2015-01-01

    With development of mobile internet and finance, fraud risk comes in all shapes and sizes. This paper is to introduce the Fraud Risk Management at Alibaba under big data. Alibaba has built a fraud risk monitoring and management system based on real-time big data processing and intelligent risk models. It captures fraud signals directly from huge amount data of user behaviors and network, analyzes them in real-time using machine learning, and accurately predicts the bad users and transactions....

  3. Pedestrian safety management using the risk-based approach

    OpenAIRE

    Romanowska Aleksandra; Jamroz Kazimierz; Kustra Wojciech

    2017-01-01

    The paper presents a concept of a multi-level pedestrian safety management system. Three management levels are distinguished: strategic, tactical and operational. The basis for the proposed approach to pedestrian safety management is a risk-based method. In the approach the elements of behavioural and systemic theories were used, allowing for the development of a formalised and repeatable procedure integrating the phases of risk assessment and response to the hazards of road crashes involving...

  4. The Research on Safety Management Information System of Railway Passenger Based on Risk Management Theory

    Science.gov (United States)

    Zhu, Wenmin; Jia, Yuanhua

    2018-01-01

    Based on the risk management theory and the PDCA cycle model, requirements of the railway passenger transport safety production is analyzed, and the establishment of the security risk assessment team is proposed to manage risk by FTA with Delphi from both qualitative and quantitative aspects. The safety production committee is also established to accomplish performance appraisal, which is for further ensuring the correctness of risk management results, optimizing the safety management business processes and improving risk management capabilities. The basic framework and risk information database of risk management information system of railway passenger transport safety are designed by Ajax, Web Services and SQL technologies. The system realizes functions about risk management, performance appraisal and data management, and provides an efficient and convenient information management platform for railway passenger safety manager.

  5. Model-Based Engineering for Supply Chain Risk Management

    Science.gov (United States)

    2015-09-30

    General Accounting Office has placed ICT Supply Chain Risk Management on its annual “Key Issues, High Risk” list [9]. A primary contributor to...Model-Based Engineering for Supply Chain Risk Management Dan Shoemaker, Ph.D. University of Detroit Mercy Carol Woody, Ph.D. Carnegie Mellon...Design Language (AADL), which has tools for modeling and compliance verification, provides an effective capability to model and describe all component

  6. HOW INTERNAL RISK - BASED AUDIT APPRAISES THE EVALUATION OF RISKS MANAGEMENT

    Directory of Open Access Journals (Sweden)

    N. Dorosh

    2017-09-01

    Full Text Available The article deals with the nature and function of the internal risk-based audit process approach to create patterns of risks and methods of evaluation. Deals with the relationship between the level of maturity of the risk of the company and the method of risk-based internal audit. it was emphasized that internal auditing provides an independent and objective opinion to an organization’s management as to whether its risks are being managed to acceptable levels.

  7. Pedestrian safety management using the risk-based approach

    Directory of Open Access Journals (Sweden)

    Romanowska Aleksandra

    2017-01-01

    Full Text Available The paper presents a concept of a multi-level pedestrian safety management system. Three management levels are distinguished: strategic, tactical and operational. The basis for the proposed approach to pedestrian safety management is a risk-based method. In the approach the elements of behavioural and systemic theories were used, allowing for the development of a formalised and repeatable procedure integrating the phases of risk assessment and response to the hazards of road crashes involving pedestrians. Key to the method are tools supporting pedestrian safety management. According to the risk management approach, the tools can be divided into two groups: tools supporting risk assessment and tools supporting risk response. In the paper attention is paid to selected tools supporting risk assessment, with particular emphasis on the methods for estimating forecasted pedestrian safety measures (at strategic, national and regional level and identification of particularly dangerous locations in terms of pedestrian safety at tactical (regional and local and operational level. The proposed pedestrian safety management methods and tools can support road administration in making rational decisions in terms of road safety, safety of road infrastructure, crash elimination measures or reducing the consequences suffered by road users (particularly pedestrians as a result of road crashes.

  8. Management of Microbiologically Influenced Corrosion in Risk Based Inspection analysis

    DEFF Research Database (Denmark)

    Skovhus, Torben Lund; Hillier, Elizabeth; Andersen, Erlend S.

    2016-01-01

    Operating offshore oil and gas production facilities is often associated with high risk. In order to manage the risk, operators commonly use aids to support decision making in the establishment of a maintenance and inspection strategy. Risk Based Inspection (RBI) analysis is widely used in the of......Operating offshore oil and gas production facilities is often associated with high risk. In order to manage the risk, operators commonly use aids to support decision making in the establishment of a maintenance and inspection strategy. Risk Based Inspection (RBI) analysis is widely used...... in the offshore industry as a means to justify the inspection strategy adopted. The RBI analysis is a decision-making technique that enables asset managers to identify the risk related to failure of their most critical systems and components, with an effect on safety, environmental and business related issues...... and an extensive up-to date literature study. The parameters are discussed and subsequently combined in a novel procedure that allows assessment of MIC in a RBI analysis. The procedure is sub-divided into one screening step and a detailed assessment, which fits the recommended approach to assess risk in a RBI...

  9. Risk management

    OpenAIRE

    Mcmanus, John

    2009-01-01

    Few projects are completed on time, on budget, and to their original requirement or specifications. Focusing on what project managers need to know about risk in the pursuit of delivering projects, Risk Management covers key components of the risk management process and the software development process, as well as best practices for risk identification, risk planning, and risk analysis. The book examines risk planning, risk analysis responses to risk, the tracking and modelling of risks, intel...

  10. Big data based fraud risk management at Alibaba

    Directory of Open Access Journals (Sweden)

    Jidong Chen

    2015-12-01

    Full Text Available With development of mobile internet and finance, fraud risk comes in all shapes and sizes. This paper is to introduce the Fraud Risk Management at Alibaba under big data. Alibaba has built a fraud risk monitoring and management system based on real-time big data processing and intelligent risk models. It captures fraud signals directly from huge amount data of user behaviors and network, analyzes them in real-time using machine learning, and accurately predicts the bad users and transactions. To extend the fraud risk prevention ability to external customers, Alibaba also built up a big data based fraud prevention product called AntBuckler. AntBuckler aims to identify and prevent all flavors of malicious behaviors with flexibility and intelligence for online merchants and banks. By combining large amount data of Alibaba and customers', AntBuckler uses the RAIN score engine to quantify risk levels of users or transactions for fraud prevention. It also has a user-friendly visualization UI with risk scores, top reasons and fraud connections.

  11. Risk-based principles for defining and managing water security

    Science.gov (United States)

    Hall, Jim; Borgomeo, Edoardo

    2013-01-01

    The concept of water security implies concern about potentially harmful states of coupled human and natural water systems. Those harmful states may be associated with water scarcity (for humans and/or the environment), floods or harmful water quality. The theories and practices of risk analysis and risk management have been developed and elaborated to deal with the uncertain occurrence of harmful events. Yet despite their widespread application in public policy, theories and practices of risk management have well-known limitations, particularly in the context of severe uncertainties and contested values. Here, we seek to explore the boundaries of applicability of risk-based principles as a means of formalizing discussion of water security. Not only do risk concepts have normative appeal, but they also provide an explicit means of addressing the variability that is intrinsic to hydrological, ecological and socio-economic systems. We illustrate the nature of these interconnections with a simulation study, which demonstrates how water resources planning could take more explicit account of epistemic uncertainties, tolerability of risk and the trade-offs in risk among different actors. PMID:24080616

  12. An overview of caries risk assessment: Rationale, risk indicators, risk assessment methods, and risk-based caries management protocols

    Directory of Open Access Journals (Sweden)

    Ekta Singh Suneja

    2017-01-01

    Full Text Available The paradigm shift in our understanding of the dynamic, multifactorial nature of dental caries and the resultant change in caries preventive and treatment strategies necessitates that caries risk assessment (CRA should be an integral part of any caries management protocol. This review discusses the rationale for CRA and the role various risk indicators play in the fluctuating demineralization-remineralization cycle of dental caries. It also provides an overview of different CRA methods and a risk-based clinical protocol for dental caries management in infants and children.

  13. Risk-based management of invading plant disease.

    Science.gov (United States)

    Hyatt-Twynam, Samuel R; Parnell, Stephen; Stutt, Richard O J H; Gottwald, Tim R; Gilligan, Christopher A; Cunniffe, Nik J

    2017-05-01

    Effective control of plant disease remains a key challenge. Eradication attempts often involve removal of host plants within a certain radius of detection, targeting asymptomatic infection. Here we develop and test potentially more effective, epidemiologically motivated, control strategies, using a mathematical model previously fitted to the spread of citrus canker in Florida. We test risk-based control, which preferentially removes hosts expected to cause a high number of infections in the remaining host population. Removals then depend on past patterns of pathogen spread and host removal, which might be nontransparent to affected stakeholders. This motivates a variable radius strategy, which approximates risk-based control via removal radii that vary by location, but which are fixed in advance of any epidemic. Risk-based control outperforms variable radius control, which in turn outperforms constant radius removal. This result is robust to changes in disease spread parameters and initial patterns of susceptible host plants. However, efficiency degrades if epidemiological parameters are incorrectly characterised. Risk-based control including additional epidemiology can be used to improve disease management, but it requires good prior knowledge for optimal performance. This focuses attention on gaining maximal information from past epidemics, on understanding model transferability between locations and on adaptive management strategies that change over time. © 2017 The Authors. New Phytologist © 2017 New Phytologist Trust.

  14. Management of Microbiologically Influenced Corrosion in Risk Based Inspection analysis

    DEFF Research Database (Denmark)

    Skovhus, Torben Lund; Hillier, Elizabeth; Andersen, Erlend S.

    in the offshore industry as a means to justify the inspection strategy adopted. The RBI analysis is a decision-making technique that enables asset managers to identify the risk related to failure of their most critical systems and components, with an effect on safety, environmental and business related issues...... and discussed. From a risk perspective, MIC is not satisfactorily assessed by the current models and the models lack a proper view of the MIC threat. Therefore, a review of known parameters that affect MIC is presented. The mapping and identification of parameters is based on the review of past models...

  15. Managing wildfire events: risk-based decision making among a group of federal fire managers

    Science.gov (United States)

    Robyn S. Wilson; Patricia L. Winter; Lynn A. Maguire; Timothy. Ascher

    2011-01-01

    Managing wildfire events to achieve multiple management objectives involves a high degree of decision complexity and uncertainty, increasing the likelihood that decisions will be informed by experience-based heuristics triggered by available cues at the time of the decision. The research reported here tests the prevalence of three risk-based biases among 206...

  16. Introducing Risk Management Techniques Within Project Based Software Engineering Courses

    Science.gov (United States)

    Port, Daniel; Boehm, Barry

    2002-03-01

    In 1996, USC switched its core two-semester software engineering course from a hypothetical-project, homework-and-exam course based on the Bloom taxonomy of educational objectives (knowledge, comprehension, application, analysis, synthesis, and evaluation). The revised course is a real-client team-project course based on the CRESST model of learning objectives (content understanding, problem solving, collaboration, communication, and self-regulation). We used the CRESST cognitive demands analysis to determine the necessary student skills required for software risk management and the other major project activities, and have been refining the approach over the last 5 years of experience, including revised versions for one-semester undergraduate and graduate project course at Columbia. This paper summarizes our experiences in evolving the risk management aspects of the project course. These have helped us mature more general techniques such as risk-driven specifications, domain-specific simplifier and complicator lists, and the schedule as an independent variable (SAIV) process model. The largely positive results in terms of review of pass / fail rates, client evaluations, product adoption rates, and hiring manager feedback are summarized as well.

  17. Risk-based decision making and risk management of European Union regional programs

    Directory of Open Access Journals (Sweden)

    Michalopoulos Evangelos

    2008-01-01

    Full Text Available This paper presents a generalized method for management decision making incorporating risk assessment techniques. The risk based decision making methodology is applied to European Union expenditure programs used to implement its regional policy, such as the community support framework, community initiatives, special initiatives and other European policies. An example is presented for the development of an audit (inspection program in the region of West Macedonia, Greece, during the implementation of the 3rd Community Structural Support Framework Operational Program. The generic nature of the method permits its use in the management of similar European regional programs in Greece and other European countries. It is also applicable to many other industries interested in applying risk-based management decisions to physical or process based systems. .

  18. Risk management.

    Science.gov (United States)

    Chambers, David W

    2010-01-01

    Every plan contains risk. To proceed without planning some means of managing that risk is to court failure. The basic logic of risk is explained. It consists in identifying a threshold where some corrective action is necessary, the probability of exceeding that threshold, and the attendant cost should the undesired outcome occur. This is the probable cost of failure. Various risk categories in dentistry are identified, including lack of liquidity; poor quality; equipment or procedure failures; employee slips; competitive environments; new regulations; unreliable suppliers, partners, and patients; and threats to one's reputation. It is prudent to make investments in risk management to the extent that the cost of managing the risk is less than the probable loss due to risk failure and when risk management strategies can be matched to type of risk. Four risk management strategies are discussed: insurance, reducing the probability of failure, reducing the costs of failure, and learning. A risk management accounting of the financial meltdown of October 2008 is provided.

  19. Risk assessment and hierarchical risk management of enterprises in chemical industrial parks based on catastrophe theory.

    Science.gov (United States)

    Chen, Yu; Song, Guobao; Yang, Fenglin; Zhang, Shushen; Zhang, Yun; Liu, Zhenyu

    2012-12-03

    According to risk systems theory and the characteristics of the chemical industry, an index system was established for risk assessment of enterprises in chemical industrial parks (CIPs) based on the inherent risk of the source, effectiveness of the prevention and control mechanism, and vulnerability of the receptor. A comprehensive risk assessment method based on catastrophe theory was then proposed and used to analyze the risk levels of ten major chemical enterprises in the Songmu Island CIP, China. According to the principle of equal distribution function, the chemical enterprise risk level was divided into the following five levels: 1.0 (very safe), 0.8 (safe), 0.6 (generally recognized as safe, GRAS), 0.4 (unsafe), 0.2 (very unsafe). The results revealed five enterprises (50%) with an unsafe risk level, and another five enterprises (50%) at the generally recognized as safe risk level. This method solves the multi-objective evaluation and decision-making problem. Additionally, this method involves simple calculations and provides an effective technique for risk assessment and hierarchical risk management of enterprises in CIPs.

  20. Managing risks

    International Nuclear Information System (INIS)

    Nathwani, J.S.

    1993-01-01

    The three principles to guide regulating authorities are: Risks shall be managed to maximize the total expected net benefit to society; The safety benefit to be promoted is quality-adjusted life expectancy; Decisions for the public in regard to health and safety must be open and apply across the entire range of hazards to life and health. Based on the principle that excessive spending on health and safety, or lack of necessary development, may cause poverty and thereby actually decrease (adjusted) life expectancy, the author has developed a Life Product Index which gives comparable results to the Human Development Index promoted by the United Nations Development Program. These two social indicators can be used for purposes such as project evaluation, choosing between alternative technologies, or evaluation of health and safety programs

  1. A new active portfolio risk management for an electricity retailer based on a drawdown risk preference

    International Nuclear Information System (INIS)

    Charwand, Mansour; Gitizadeh, Mohsen; Siano, Pierluigi

    2017-01-01

    This paper addresses the deciding under uncertainty of an electricity retailer in order to maximise its total expected rate of return. The developed methodology is based on the modelling of the stochastic evolution of zonal prices that seeks to manage a portfolio of different contracts. Retailer's load and the price at each zone are forecasted using the seasonal autoregressive integrated moving average (SARIMA) model and a clustering technique is used for scenario reduction. Supply sources include the pool, self-production facilities, forward and bilateral contracts. The risk of cost fluctuation due to uncertainties is explicitly modelled using the multi-scenario drawdown methodology. This risk function quantifies in aggregated format the frequency and magnitude of the portfolio drawdowns over planning horizon. In-sample and out-of-sample runs are performed for a portfolio allocation problem. Carried out experimental results on the basis of realistic data, show that imposing risk constraints improve the “real” performance of a portfolio management in out-of-sample runs. - Highlights: • A new drawdown-based method is introduced to retailer deciding under uncertainty. • This tool is used to assess the risk levels regarding retailer midterm strategies. • The methodology is based on the modeling of the stochastic evolution of zonal prices. • The risk function quantifies the frequency and magnitude of the portfolio drawdowns. • In-sample and out-of-sample runs are performed for a portfolio allocation problem.

  2. Managing wildfire events: risk-based decision making among a group of federal fire managers.

    Science.gov (United States)

    Wilson, Robyn S; Winter, Patricia L; Maguire, Lynn A; Ascher, Timothy

    2011-05-01

    Managing wildfire events to achieve multiple management objectives involves a high degree of decision complexity and uncertainty, increasing the likelihood that decisions will be informed by experience-based heuristics triggered by available cues at the time of the decision. The research reported here tests the prevalence of three risk-based biases among 206 individuals in the USDA Forest Service with authority to choose how to manage a wildfire event (i.e., line officers and incident command personnel). The results indicate that the subjects exhibited loss aversion, choosing the safe option more often when the consequences of the choice were framed as potential gains, but this tendency was less pronounced among those with risk seeking attitudes. The subjects also exhibited discounting, choosing to minimize short-term over long-term risk due to a belief that future risk could be controlled, but this tendency was less pronounced among those with more experience. Finally, the subjects, in particular those with more experience, demonstrated a status quo bias, choosing suppression more often when their reported status quo was suppression. The results of this study point to a need to carefully construct the decision process to ensure that the uncertainty and conflicting objectives inherent in wildfire management do not result in the overuse of common heuristics. Individual attitudes toward risk or an agency culture of risk aversion may counterbalance such heuristics, whereas increased experience may lead to overconfident intuitive judgments and a failure to incorporate new and relevant information into the decision. © 2010 Society for Risk Analysis.

  3. Menopause management: a cardiovascular risk-based approach.

    Science.gov (United States)

    Haines, C J; Farrell, E

    2010-08-01

    Hormone replacement therapy (HRT) remains the gold standard for the management of menopausal symptoms; however, HRT use has declined due to concerns over possible adverse side-effects. Approaches to menopause management are continually being revised and these extend beyond the control of recognized menopausal symptoms to encompass wider aspects of menopausal women's health. Hypertension and associated cardiovascular risk are particularly important unmet needs in postmenopausal women, especially in the Asia-Pacific region which has a rapidly aging population and bears around half of the global burden of cardiovascular disease, two-thirds of which has been attributed to elevated blood pressure. As first point of contact for women with menopausal symptoms, gynecologists play a gatekeeper role in assessing women's health, providing appropriate lifestyle counseling, and, where appropriate, implementing treatment or referral to relevant specialists. This paper, with contributions by gynecologists and cardiologists from Asia Pacific and beyond, summarizes available evidence and provides a treatment algorithm that employs a flexible blood pressure classification strategy to assist physicians in their decision-making for the individualized management of menopausal symptoms in women with low, moderate and high cardiovascular risk, and also for women with diabetes. Individualized HRT according to cardiovascular risk may yield improvements in cardiovascular health, as well as managing menopausal symptoms.

  4. Hierarchical, model-based risk management of critical infrastructures

    Energy Technology Data Exchange (ETDEWEB)

    Baiardi, F. [Polo G.Marconi La Spezia, Universita di Pisa, Pisa (Italy); Dipartimento di Informatica, Universita di Pisa, L.go B.Pontecorvo 3 56127, Pisa (Italy)], E-mail: f.baiardi@unipi.it; Telmon, C.; Sgandurra, D. [Dipartimento di Informatica, Universita di Pisa, L.go B.Pontecorvo 3 56127, Pisa (Italy)

    2009-09-15

    Risk management is a process that includes several steps, from vulnerability analysis to the formulation of a risk mitigation plan that selects countermeasures to be adopted. With reference to an information infrastructure, we present a risk management strategy that considers a sequence of hierarchical models, each describing dependencies among infrastructure components. A dependency exists anytime a security-related attribute of a component depends upon the attributes of other components. We discuss how this notion supports the formal definition of risk mitigation plan and the evaluation of the infrastructure robustness. A hierarchical relation exists among models that are analyzed because each model increases the level of details of some components in a previous one. Since components and dependencies are modeled through a hypergraph, to increase the model detail level, some hypergraph nodes are replaced by more and more detailed hypergraphs. We show how critical information for the assessment can be automatically deduced from the hypergraph and define conditions that determine cases where a hierarchical decomposition simplifies the assessment. In these cases, the assessment has to analyze the hypergraph that replaces the component rather than applying again all the analyses to a more detailed, and hence larger, hypergraph. We also show how the proposed framework supports the definition of a risk mitigation plan and discuss some indicators of the overall infrastructure robustness. Lastly, the development of tools to support the assessment is discussed.

  5. Hierarchical, model-based risk management of critical infrastructures

    International Nuclear Information System (INIS)

    Baiardi, F.; Telmon, C.; Sgandurra, D.

    2009-01-01

    Risk management is a process that includes several steps, from vulnerability analysis to the formulation of a risk mitigation plan that selects countermeasures to be adopted. With reference to an information infrastructure, we present a risk management strategy that considers a sequence of hierarchical models, each describing dependencies among infrastructure components. A dependency exists anytime a security-related attribute of a component depends upon the attributes of other components. We discuss how this notion supports the formal definition of risk mitigation plan and the evaluation of the infrastructure robustness. A hierarchical relation exists among models that are analyzed because each model increases the level of details of some components in a previous one. Since components and dependencies are modeled through a hypergraph, to increase the model detail level, some hypergraph nodes are replaced by more and more detailed hypergraphs. We show how critical information for the assessment can be automatically deduced from the hypergraph and define conditions that determine cases where a hierarchical decomposition simplifies the assessment. In these cases, the assessment has to analyze the hypergraph that replaces the component rather than applying again all the analyses to a more detailed, and hence larger, hypergraph. We also show how the proposed framework supports the definition of a risk mitigation plan and discuss some indicators of the overall infrastructure robustness. Lastly, the development of tools to support the assessment is discussed.

  6. Features of risk-based approach to the management of small and medium-sized businesses

    OpenAIRE

    Bezdenezhnykh V. M.; Protasov K. A.

    2016-01-01

    the article observes the notion of risk-based approach, proves its relevance in small and medium-sized businesses management, which is especially important in a current difficult situation in the country. The author gives a definition of the risk-based approach, describes its application in business management, and describes the major risks of doing business in the Russian market. Moreover, the paper explains the role and the necessity of applying risk-based approach to small and medium-sized...

  7. Managing Risks

    DEFF Research Database (Denmark)

    Alaranta, Maria Eliisa; Mathiassen, Lars

    2014-01-01

    Mergers and acquisitions (M&A) require organizations to blend together different information system (IS) configurations. Unfortunately, less than 50 percent of M&A's achieve their goals, with IS integration being a major problem. Here, the authors offer a framework to help managers prepare for......, analyze, and mitigate risks during post-merger IS integration. They identify key risks relating to IS integration content, process, and context, and present five strategies for mitigating those risks. Their framework aims to help managers proactively reduce the impact of adverse events. Adopting...... the framework supported by their templates is straightforward and the time and resources required are minimal. When properly executed, adoption increases the likelihood of successful merger outcomes; the framework is thus a valuable addition to the management tool box and can be applied in collaboration...

  8. Trust-Based Information Risk Management in a Supply Chain Network

    OpenAIRE

    Yanjun Zuo; Wen-Chen Hu

    2009-01-01

    Information risk management is crucial for an organization operating in an increasingly integrated and intensively communicated environment to mitigate risks and ensure core business functions. Given the open and dynamic nature of a supply chain network, information risk management is challenging and various factors must be considered. This article introduces a trust-based approach to facilitate supply chain participants to perform effective risk management. The major components of the propos...

  9. Examining the Perceived Value of Integration of Earned Value Management with Risk Management-Based Performance Measurement Baseline

    Science.gov (United States)

    Shah, Akhtar H.

    2014-01-01

    Many projects fail despite the use of evidence-based project management practices such as Performance Measurement Baseline (PMB), Earned Value Management (EVM) and Risk Management (RM). Although previous researchers have found that integrated project management techniques could be more valuable than the same techniques used by themselves, these…

  10. Uncertain Risk Assessment of Knowledge Management: Based on Set Pair Analysis

    Directory of Open Access Journals (Sweden)

    Guibin Yang

    2016-01-01

    Full Text Available Since the knowledge resource becomes an important part of enterprise resources, the knowledge management risks could significantly affect the enterprise operation efficiency. Controlling knowledge management risks is one of the enterprise management tasks; the managers and researchers focus on how to effectively evaluate the risks. This paper aims to solve this problem and puts forward an evaluation model of the uncertain risks of knowledge management. Based on set pair theory, a model is established to identify the knowledge management risk. Through the concept of connection number, knowledge management risk is divided into five levels. Meanwhile, the development trend of knowledge management risk is classified into same tendency, equal tendency, and contrary tendency by the concept of set pair theory. The application of this model is empirically verified with Chinese enterprises. Through both static and dynamic evaluations of the knowledge management risk, this paper can effectively analyze risk development trend and provide decision support for the enterprise manager about the uncertain risks of knowledge management.

  11. Features of risk-based approach to the management of small and medium-sized businesses

    Directory of Open Access Journals (Sweden)

    Bezdenezhnykh V. M.

    2016-07-01

    Full Text Available the article observes the notion of risk-based approach, proves its relevance in small and medium-sized businesses management, which is especially important in a current difficult situation in the country. The author gives a definition of the risk-based approach, describes its application in business management, and describes the major risks of doing business in the Russian market. Moreover, the paper explains the role and the necessity of applying risk-based approach to small and medium-sized businesses management.

  12. Nature-based flood risk management -challenges in implementing catchment-wide management concepts

    Science.gov (United States)

    Thaler, Thomas; Fuchs, Sven

    2017-04-01

    Traditionally, flood risk management focused on coping with the flow at a given point by, for example, building dikes or straightening the watercourse. Increasingly the emphasis has shifted to measures within the flood plain to delay the flow through storage. As such the fluent boundaries imposed by the behaviour of the catchment at a certain point are relocated upstream by the human intervention. Therefore, the implementation of flood storages and the use of natural retention areas are promoted as mitigation measures to support sustainable flood risk management. They aimed at reducing the effluent boundaries on the floodplain by increasing the effluent boundaries upstream. However, beyond the simple change of practices it is indeed often a question of land use change which is at stake in water management. As such, it poses the questions on how to govern both water and land to satisfy the different stakeholders. Nature-based strategies often follow with voluntary agreements, which are promoted as an alternative instrument to the traditional top-down command and control regulation. Voluntary agreements aim at bringing more efficiency, participatory and transparency in solving problems between different social groups. In natural hazard risk management voluntary agreements are now receiving high interests to complement the existing policy instruments in order to achieve the objectives the EU WFD and of the Floods Directive. This paper investigates the use of voluntary agreements as an alternative instrument to the traditional top-down command and control regulation in the implementation of flood storages in Austria. The paper provides a framework of analysis to reveal barriers and opportunities associated with such approach. The paper concludes that institution and power are the central elements to tackle for allowing the success of voluntary agreement.

  13. The art and science of risk management: a US research-based industry perspective.

    Science.gov (United States)

    Bush, Janice K; Dai, Wanju S; Dieck, Gretchen S; Hostelley, Linda S; Hassall, Thomas

    2005-01-01

    The research-based pharmaceutical industry in the US strongly supports the concepts of risk management and sees formal risk management as playing a major role in the development of safe medicines for the public, as well as providing a mechanism to ensure that decisions concerning individual drug benefit and risk are made based on scientific evidence. Safe medicines refer to those drugs whose benefits have been found to outweigh their risks when they are used according to the approved labelling. Risk management is the comprehensive and proactive application of scientifically based methodologies to identify, assess, communicate and minimise risk throughout the life cycle of a drug so as to establish and maintain a favourable benefit-risk balance in patients. Although there are certainly a number of global risk management initiatives in place or being undertaken, harmonisation has yet to be achieved. Industry is faced with a variety of different risk management approaches and tools. There is a need to move the focus of risk management from the post-approval arena to earlier in the development process and tools need to be developed to support risk management throughout the lifecycle of a drug. The focus in the US on risk minimalisation strategies will also be an area for methodological development. A key factor in the success of overall risk management is the dialogue between industry and regulators throughout the development, review and marketing of the product. It is through such dialogue that appropriate, efficient and effective risk management strategies will be developed and implemented and the best decisions regarding the safe use of pharmaceutical products will be made.

  14. Governmental management of chemical risk

    International Nuclear Information System (INIS)

    Zimmerman, R.

    1990-01-01

    This book is organized under the following headings: risk management in the government context; legal and regulatory decrees and directives for managing chemical risk; incentive-based approaches for regulating risk; risk management in the federal system; and traditional approaches and new initiatives for managing chemical risk

  15. Ground water monitoring waste water management - a risk based approach

    International Nuclear Information System (INIS)

    Meyer, K.A. Jr.

    1990-01-01

    The Weldon Spring Site Remedial Action Project (WSSRAP), a twelve year, $400 million remedial action project sponsored by the U.S. Department of Energy, has installed numerous ground water monitoring wells over the past several years which it routinely samples. The problem of disposal of water removed during well development and purging prior to sampling was recently identified. Numerous alternatives were evaluated and a solution formulated. The solution consists of classifying the water using risk-based criteria and handling the two classes of water as appropriate using the facilities currently available. The approach presented in this manuscript is currently being reviewed by the Environmental Protection Agency and the State of Missouri. The methods and concepts used in developing this process may be applicable to other sites

  16. Risk-Based Decision Support of Water Resource Management Alternatives

    National Research Council Canada - National Science Library

    West, Paul D; Trainor, Timothy E

    2006-01-01

    .... A model is presented that combines a new risk assessment methodology with traditional decision-making tools to enable systems engineers to capture the full spectrum of operational risks during the design process...

  17. LEVEL OF RISK MANAGEMENT PRACTICE IN NIGERIA CONSTRUCTION INDUSTRY- FROM A KNOWLEDGE BASED APPROACH

    OpenAIRE

    Adeleke, A. Q.; Bahaudin, Ahmad Yusni; Kamaruddeen, A. M.

    2015-01-01

    This paper discourses the problems associated with risk management practice in Nigeria construction projects with the use of knowledge-based approach, and proposes a methodology based on a one-fold arrangement which includes the modelling function of the risk management, its evaluation, comparative effectiveness, desired quality and the availability of a best practices model. One-fold approach is part of a research effort that is still in progress.  A major preliminary conclusion of this rese...

  18. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

    Andersen, Torben Juul; Garvey, Maxine; Roggi, Oliviero

    This book promotes good risk governance and risk management practices to corporate managers, executives, and directors wherever they operate around the world. The major corporate scandals have their roots in governance failure pointing to the link between risk governance and good performance...... outcomes. This topic is timely and of interest both to the academic community as well as to practicing managers, executives, and directors. The volume focuses on contemporary risk leadership issues based on recent research insights but avoids excessive technical language and mathematical formulas. The book...... the arguments in logical steps explicating relevant techniques and practices along the way that invite to immediate applications and practical thinking....

  19. Development of risk-based air quality management strategies under impacts of climate change.

    Science.gov (United States)

    Liao, Kuo-Jen; Amar, Praveen; Tagaris, Efthimios; Russell, Armistead G

    2012-05-01

    Climate change is forecast to adversely affect air quality through perturbations in meteorological conditions, photochemical reactions, and precursor emissions. To protect the environment and human health from air pollution, there is an increasing recognition of the necessity of developing effective air quality management strategies under the impacts of climate change. This paper presents a framework for developing risk-based air quality management strategies that can help policy makers improve their decision-making processes in response to current and future climate change about 30-50 years from now. Development of air quality management strategies under the impacts of climate change is fundamentally a risk assessment and risk management process involving four steps: (1) assessment of the impacts of climate change and associated uncertainties; (2) determination of air quality targets; (3) selections of potential air quality management options; and (4) identification of preferred air quality management strategies that minimize control costs, maximize benefits, or limit the adverse effects of climate change on air quality when considering the scarcity of resources. The main challenge relates to the level of uncertainties associated with climate change forecasts and advancements in future control measures, since they will significantly affect the risk assessment results and development of effective air quality management plans. The concept presented in this paper can help decision makers make appropriate responses to climate change, since it provides an integrated approach for climate risk assessment and management when developing air quality management strategies. Development of climate-responsive air quality management strategies is fundamentally a risk assessment and risk management process. The risk assessment process includes quantification of climate change impacts on air quality and associated uncertainties. Risk management for air quality under the impacts of

  20. Risk Management of Assets Dependency Based on Copulas Function

    Directory of Open Access Journals (Sweden)

    Cheng Lei

    2017-01-01

    Full Text Available As the two important form of financial market, the risk of financial securities, such as stocks and bonds, has been a hot topic in the financial field; at the same time, under the influence of many factors of financial assets, the correlation between portfolio returns causes more research. This paper presents Copula-SV-t model that it uses SV-t model to measure the edge distribution, and uses the Copula-t method to obtain the high-dimensional joint distribution. It not only solves the actual deviation with using the ARCH family model to calculate the portfolio risk, but also solves the problem to overestimate the risk with using extreme value theory to study financial risk. Through the empirical research, the conclusion shows that the model describes better assets and tail characteristics of assets, and is more in line with the reality of the market. Furthermore, Empirical evidence also shows that if the portfolio is relatively large degree of correlation, the ability to disperse portfolio risk is relatively weakness.

  1. Problem-Based Teaching in International Management: A Political/Economic Risk Assessment Exercise

    Science.gov (United States)

    Daly, Paula S.; White, Marion M.; Zisk, Daniel S.; Cavazos, David E.

    2013-01-01

    This article draws from the current literature to examine problem-based learning (PBL) as a management education tool, and provides an example of how to incorporate PBL into an undergraduate international management course. Also included are an explanation of, and specific guidelines for, a PBL exercise focused on the analysis of "country risk"…

  2. [Impact assessment of inadequate hospital disaster management : Reflection based on a risk model].

    Science.gov (United States)

    Pfenninger, E; Güzelel, H

    2017-06-01

    According to legal regulations alarm and emergency plans have to be developed and kept current in hospitals. However, often neither the hospital administration, nor the medical employees and nursing staff pay the necessary attention to these alarm and evacuation plans. In particular, risks and consequences - including financial ones - due to insufficient planning, are not adequately considered. Risks in hospitals are assessed based on a risk analysis. The risk assessment evaluates, whether the risk is acceptable, critical or unacceptable. Parameters for the risk analysis are the magnitude of damage and number of affected people. The intention of this paper is to evaluate whether there is a connection between estimated risk, quality of risk planning, and financial damage. We visualized the risk analysis as a two-dimensional matrix. In addition, we introduced disaster planning quality as a third dimension and calculated the dependency between risk and planning quality and also between the resulting damage level and the planning quality. We showed that a poor disaster planning quality increases the unacceptable risk exponentially. Risk assessment can also draw conclusions about the extent of financial damage caused, for example fires, terrorist attacks or infrastructure failure. The amount of damage can be described as a function depending on the planning deficit of emergency planning. The worse the planning quality, the higher the amount of damages for non-tolerable risks can be. Risk management means recognizing risks, assessing risks and managing risks. In hospitals, this mostly means using a critical incident reporting system (CIRS), however risk management in the sense of disaster planning is largely unknown. With a three-dimensional risk matrix, we showed a clear correlation between the quality of disaster planning and relative risk or financial damage. To substantiate the presented theoretical considerations, however, further research must be designed

  3. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

    Andersen, Torben Juul; Garvey, Maxine; Roggi, Oliviero

    This book promotes good risk governance and risk management practices to corporate managers, executives, and directors wherever they operate around the world. The major corporate scandals have their roots in governance failure pointing to the link between risk governance and good performance...... outcomes. This topic is timely and of interest both to the academic community as well as to practicing managers, executives, and directors. The volume focuses on contemporary risk leadership issues based on recent research insights but avoids excessive technical language and mathematical formulas. The book....... The underlying logic is built on the principles of financial economics where benefits derive from reducing bankruptcy costs and increasing future cash inflows. This provides a stringent framework for analyzing the effect of different risk management actions and behaviors in effective risk-taking organizations...

  4. Risk Management in Crowdsourcing-Based Business Ecosystems

    OpenAIRE

    Suchita Nirosh Kannangara; Peter Uguccioni

    2013-01-01

    The benefits of crowdsourcing are enabled by open environments where multiple external stakeholders contribute to a firm's outcomes. However, crowdsourcing typically has been examined as a general process and not from the specific perspective of a mechanism for driving value creation and capture within a business ecosystem. In this conceptual article, we highlight this research gap by examining crowdsourcing from a business ecosystem perspective and by identifying the inherent business risks ...

  5. Investigation of risk management auditing

    International Nuclear Information System (INIS)

    Cao Lu

    2012-01-01

    2004, COSO published 'Enterprise Risk Management Framework', 2009, SASAC issued the 'central enterprise-wide risk management guidelines' to promote risk management within the formal state-owned enterprises in medium and large. Nuclear Group, which risk management in all branches to carry out the project homeopathic, and A Ⅱ will carry out risk management program as the first unit has accumulated more experience. This article from the perspective of internal control, based on the company's risk management practices carried out to try for the nuclear power enterprise risk management audit to describe and propose new ideas. Which expounds the significance of risk management, audit, risk management audit of the ways and means, for practical application of risk management audit of a representative summary of the issues and the ways and means to solve the problem of forward-looking recommendations. (authors)

  6. Risk-based management of remaining life of power plant components

    International Nuclear Information System (INIS)

    Roos, E.; Jovanovic, A.S.; Maile, K.; Auerkari, P.

    1999-01-01

    The paper describes application of different modules of the MPA-System ALIAS in risk-based management of remaining life of power plant components. The system allows comprehensive coverage of all aspects of the remaining life management, including also the risk analysis and risk management. In addition, thanks to the modular character of the system it is also possible to implement new methods: In the case described here, a new (probabilistic) method for determination of the next inspection time for the components exposed to creep loading has been developed and implemented in the system. Practical application of the method has shown (a) that the mean values obtained by the method fall into the range of results obtained by other methods (based on expert knowledge), and (b) that it is possible to quantify the probability of aberration from the mean values. This in turn allows quantifying the additional risks linked to e.g. prolonging of inspection intervals. (orig.) [de

  7. Processing Risk In Asset Management : Exploring The Boundaries Of Risk Based Optimization Under Uncertainty For An Energy Infrastructure Asset Manager

    NARCIS (Netherlands)

    Wijnia, Y.C.

    2016-01-01

    In the liberalized energy market Distribution Network Operators (DNOs) are confronted with income reductions by the regulator. The common response to this challenge is the implementation of asset management, which can be regarded as systematically applying Cost Benefit Analysis (CBA) to the risks in

  8. Risk management

    International Nuclear Information System (INIS)

    Magne, L.

    1999-01-01

    There is always a risk of an accident occurring at a nuclear power plant, however small. The problem lies in estimating the probability of it occurring. The method of probabilistic safety assessment provides this estimate, and by identifying the sources of potential risk, makes it possible to prevent them from occurring. It is not, however, a substitute for other decision-making processes. (author)

  9. NASA's Risk Management System

    Science.gov (United States)

    Perera, Jeevan S.

    2011-01-01

    Leadership is key to success. Phased-approach for implementation of risk management is necessary. Risk management system will be simple, accessible and promote communication of information to all relevant stakeholders for optimal resource allocation and risk mitigation. Risk management should be used by all team members to manage risks -- risk office personnel. Each group is assigned Risk Integrators who are facilitators for effective risk management. Risks will be managed at the lowest-level feasible, elevate only those risks that require coordination or management from above. Risk reporting and communication is an essential element of risk management and will combine both qualitative and quantitative elements. Risk informed decision making should be introduced to all levels of management. Provide necessary checks and balances to insure that risks are caught/identified and dealt with in a timely manner. Many supporting tools, processes & training must be deployed for effective risk management implementation. Process improvement must be included in the risk processes.

  10. Prototype development of a web-based participative decision support platform in risk management

    Science.gov (United States)

    Aye, Zar Chi; Olyazadeh, Roya; Jaboyedoff, Michel; Derron, Marc-Henri

    2014-05-01

    This paper discusses the proposed background architecture and prototype development of an internet-based decision support system (DSS) in the field of natural hazards and risk management using open-source geospatial software and web technologies. It is based on a three-tier, client-server architecture with the support of boundless (opengeo) framework and its client side SDK application environment using customized gxp components and data utility classes. The main purpose of the system is to integrate the workflow of risk management systematically with the diverse involvement of stakeholders from different organizations dealing with natural hazards and risk for evaluation of management measures through the active online participation approach. It aims to develop an adaptive user friendly, web-based environment that allows the users to set up risk management strategies based on actual context and data by integrating web-GIS and DSS functionality associated with process flow and other visualization tools. Web-GIS interface has been integrated within the DSS to deliver maps and provide certain geo-processing capabilities on the web, which can be easily accessible and shared by different organizations located in case study sites of the project. This platform could be envisaged not only as a common web-based platform for the centralized sharing of data such as hazard maps, elements at risk maps and additional information but also to ensure an integrated platform of risk management where the users could upload data, analyze risk and identify possible alternative scenarios for risk reduction especially for floods and landslides, either quantitatively or qualitatively depending on the risk information provided by the stakeholders in case study regions. The level of involvement, access to and interaction with the provided functionality of the system varies depending on the roles and responsibilities of the stakeholders, for example, only the experts (planners, geological

  11. Groundwater Risk Management Handbook

    Science.gov (United States)

    2008-01-01

    have adopted tiered "Risk Management Options" (e.g., Florida’s "Global Risk- Based Corrective Action [ RBCA ]"), which recognize the technical...Interstate Technology and Regulatory Council (ITRC) also completed a survey of states for RBCA programs; this survey is available at http://www.itrcweb.org

  12. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

    Andersen, Torben Juul; Garvey, Maxine; Roggi, Oliviero

    This book promotes good risk governance and risk management practices to corporate managers, executives, and directors wherever they operate around the world. The major corporate scandals have their roots in governance failure pointing to the link between risk governance and good performance...... outcomes. This topic is timely and of interest both to the academic community as well as to practicing managers, executives, and directors. The volume focuses on contemporary risk leadership issues based on recent research insights but avoids excessive technical language and mathematical formulas. The book...... is framed around the challenges imposed on executives and directors in dealing with an increasingly complex and unpredictable world. This requires a new risk leadership focus that not only avoids the downside risks but also considers ways to exploit the upside potential offered by a dynamic environment...

  13. Waste management project’s alternatives: A risk-based multi-criteria assessment (RBMCA) approach

    International Nuclear Information System (INIS)

    Karmperis, Athanasios C.; Sotirchos, Anastasios; Aravossis, Konstantinos; Tatsiopoulos, Ilias P.

    2012-01-01

    Highlights: ► We examine the evaluation of a waste management project’s alternatives. ► We present a novel risk-based multi-criteria assessment (RBMCA) approach. ► In the RBMCA the evaluation criteria are based on the quantitative risk analysis of the project’s alternatives. ► Correlation between the criteria weight values and the decision makers’ risk preferences is examined. ► Preference to the multi-criteria against the one-criterion evaluation process is discussed. - Abstract: This paper examines the evaluation of a waste management project’s alternatives through a quantitative risk analysis. Cost benefit analysis is a widely used method, in which the investments are mainly assessed through the calculation of their evaluation indicators, namely benefit/cost (B/C) ratios, as well as the quantification of their financial, technical, environmental and social risks. Herein, a novel approach in the form of risk-based multi-criteria assessment (RBMCA) is introduced, which can be used by decision makers, in order to select the optimum alternative of a waste management project. Specifically, decision makers use multiple criteria, which are based on the cumulative probability distribution functions of the alternatives’ B/C ratios. The RBMCA system is used for the evaluation of a waste incineration project’s alternatives, where the correlation between the criteria weight values and the decision makers’ risk preferences is analyzed and useful conclusions are discussed.

  14. A literature-based preliminary characterization of risks in the nuclear waste management system

    International Nuclear Information System (INIS)

    Daling, P.M.; Rhoads, R.E.; Van Luik, A.E.

    1990-04-01

    The objectives of this study were to (1) review the literature containing information on risks in the nuclear waste management system and (2) use this information to develop preliminary estimates of the potential magnitudes of these risks. Information was collected on a broad range of risk categories to assist the US Department of Energy (DOE) in communicating information about the risks in the waste management system. The study, which was completed prior to passage of the Nuclear Waste Policy Amendments Act of 1987, examined all of the portions of the nuclear waste management system envisioned by the DOE in the 1985 ''Mission Plant for the Civilian Radioactive Waste Management Program.'' As such, there may be statements in this paper that are not consistent with current DOE positions. The scope of this paper includes the repository, the integral Monitored Retrievable Storage (MRS) facility, and the transportation system that supports the repository and the MRS facility. Based on the results of this analysis, it is concluded that the radiological risks in the waste management system are small relative to nonradiological risks and relative to the risks of exposure to natural background radiation. 6 refs., 2 figs., 2 tabs

  15. Genomic-based tools for the risk assessment, management, and prevention of type 2 diabetes

    Directory of Open Access Journals (Sweden)

    Johansen Taber KA

    2015-01-01

    Full Text Available Katherine A Johansen Taber, Barry D DickinsonDepartment of Science and Biotechnology, American Medical Association, Chicago, IL, USAAbstract: Type 2 diabetes (T2D is a common and serious disorder and is a significant risk factor for the development of cardiovascular disease, neuropathy, nephropathy, retinopathy, periodontal disease, and foot ulcers and amputations. The burden of disease associated with T2D has led to an emphasis on early identification of the millions of individuals at high risk so that management and intervention strategies can be effectively implemented before disease progression begins. With increasing knowledge about the genetic basis of T2D, several genomic-based strategies have been tested for their ability to improve risk assessment, management and prevention. Genetic risk scores have been developed with the intent to more accurately identify those at risk for T2D and to potentially improve motivation and adherence to lifestyle modification programs. In addition, evidence is building that oral antihyperglycemic medications are subject to pharmacogenomic variation in a substantial number of patients, suggesting genomics may soon play a role in determining the most effective therapies. T2D is a complex disease that affects individuals differently, and risk prediction and treatment may be challenging for health care providers. Genomic approaches hold promise for their potential to improve risk prediction and tailor management for individual patients and to contribute to better health outcomes for those with T2D.Keywords: diabetes, genomic, risk prediction, management

  16. Risk Assessment for Bridges Safety Management during Operation Based on Fuzzy Clustering Algorithm

    Directory of Open Access Journals (Sweden)

    Xia Hanyu

    2016-01-01

    Full Text Available In recent years, large span and large sea-crossing bridges are built, bridges accidents caused by improper operational management occur frequently. In order to explore the better methods for risk assessment of the bridges operation departments, the method based on fuzzy clustering algorithm is selected. Then, the implementation steps of fuzzy clustering algorithm are described, the risk evaluation system is built, and Taizhou Bridge is selected as an example, the quantitation of risk factors is described. After that, the clustering algorithm based on fuzzy equivalence is calculated on MATLAB 2010a. In the last, Taizhou Bridge operation management departments are classified and sorted according to the degree of risk, and the safety situation of operation departments is analyzed.

  17. NASA's Risk Management System

    Science.gov (United States)

    Perera, Jeevan S.

    2013-01-01

    Phased-approach for implementation of risk management is necessary. Risk management system will be simple, accessible and promote communication of information to all relevant stakeholders for optimal resource allocation and risk mitigation. Risk management should be used by all team members to manage risks - not just risk office personnel. Each group/department is assigned Risk Integrators who are facilitators for effective risk management. Risks will be managed at the lowest-level feasible, elevate only those risks that require coordination or management from above. Risk informed decision making should be introduced to all levels of management. ? Provide necessary checks and balances to insure that risks are caught/identified and dealt with in a timely manner. Many supporting tools, processes & training must be deployed for effective risk management implementation. Process improvement must be included in the risk processes.

  18. A Risk-based Assessment And Management Framework For Multipollutant Air Quality

    Science.gov (United States)

    Frey, H. Christopher; Hubbell, Bryan

    2010-01-01

    The National Research Council recommended both a risk- and performance-based multipollutant approach to air quality management. Specifically, management decisions should be based on minimizing the exposure to, and risk of adverse effects from, multiple sources of air pollution and that the success of these decisions should be measured by how well they achieved this objective. We briefly describe risk analysis and its application within the current approach to air quality management. Recommendations are made as to how current practice could evolve to support a fully risk- and performance-based multipollutant air quality management system. The ability to implement a risk assessment framework in a credible and policy-relevant manner depends on the availability of component models and data which are scientifically sound and developed with an understanding of their application in integrated assessments. The same can be said about accountability assessments used to evaluate the outcomes of decisions made using such frameworks. The existing risk analysis framework, although typically applied to individual pollutants, is conceptually well suited for analyzing multipollutant management actions. Many elements of this framework, such as emissions and air quality modeling, already exist with multipollutant characteristics. However, the framework needs to be supported with information on exposure and concentration response relationships that result from multipollutant health studies. Because the causal chain that links management actions to emission reductions, air quality improvements, exposure reductions and health outcomes is parallel between prospective risk analyses and retrospective accountability assessments, both types of assessment should be placed within a single framework with common metrics and indicators where possible. Improvements in risk reductions can be obtained by adopting a multipollutant risk analysis framework within the current air quality management

  19. A risk-based monitoring framework for the long term management of used fuel

    International Nuclear Information System (INIS)

    Garisto, N.C.

    2006-01-01

    The Nuclear Waste Management Organization has a mandate from the Government of Canada to consult with the public and to recommend an approach for managing Canada's used nuclear fuel. Three main fuel management methods are being explored and evaluated by the Nuclear Waste Management Organization: disposal in a Deep Geological Repository (DGR); reactor-site extended storage (RES); and centralized extended storage (CES), either above ground or below ground. The used nuclear fuel management system, whether a DGR or an extended storage system will require monitoring. In this study, a risk-based monitoring framework was developed for the used fuel management program. The proposed approach addresses the unique challenges of used fuel management being implemented in a multi-stakeholder process, including: (i) the complexity of the facilities; (ii) the need to consider both science-based risk and perceived risk in the monitoring plans; and (iii) the difficulty in conducting 'invasive' measurements of sealed systems, particularly over a very long time frame. (author)

  20. Physics-Based Identification, Modeling and Risk Management for Aeroelastic Flutter and Limit-Cycle Oscillations (LCO), Phase I

    Data.gov (United States)

    National Aeronautics and Space Administration — The proposed research program will develop a physics-based identification, modeling and risk management infrastructure for aeroelastic transonic flutter and...

  1. Integrating scientific and local knowledge to inform risk-based management approaches for climate adaptation

    Directory of Open Access Journals (Sweden)

    Nathan P. Kettle

    2014-01-01

    Full Text Available Risk-based management approaches to climate adaptation depend on the assessment of potential threats, and their causes, vulnerabilities, and impacts. The refinement of these approaches relies heavily on detailed local knowledge of places and priorities, such as infrastructure, governance structures, and socio-economic conditions, as well as scientific understanding of climate projections and trends. Developing processes that integrate local and scientific knowledge will enhance the value of risk-based management approaches, facilitate group learning and planning processes, and support the capacity of communities to prepare for change. This study uses the Vulnerability, Consequences, and Adaptation Planning Scenarios (VCAPS process, a form of analytic-deliberative dialogue, and the conceptual frameworks of hazard management and climate vulnerability, to integrate scientific and local knowledge. We worked with local government staff in an urbanized barrier island community (Sullivan’s Island, South Carolina to consider climate risks, impacts, and adaptation challenges associated with sea level rise and wastewater and stormwater management. The findings discuss how the process increases understanding of town officials’ views of risks and climate change impacts to barrier islands, the management actions being considered to address of the multiple impacts of concern, and the local tradeoffs and challenges in adaptation planning. We also comment on group learning and specific adaptation tasks, strategies, and needs identified.

  2. Evidence-based disease management: its role in cardiovascular risk reduction.

    Science.gov (United States)

    Fanning, Etta L

    2004-01-01

    Cardiovascular disease remains the most pressing healthcare problem in the United States. Traditional risk factors--hypertension, obesity, and diabetes-are still unresolved issues; and new risk factors--pre-diabetes, insulin resistance, and pediatric and adolescent diabetes-have emerged. There is an urgent need to identify the risk factors for cardiovascular disease, and address risk reduction with disease management and treatment for each factor, based on qualitative and quantitative approaches for developing the evidence base for public health action. The objectives of this paper are to review (i) the burden of cardiovascular illness-morbidity, mortality, and cost; (ii) risk factors and the emerging epidemic of adolescent obesity; (iii) the challenges of attaining target endpoints; and (iv) the attributes of a successful programmatic healthcare initiative for potential impact on cardiovascular care and, eventually, public health.

  3. Doctors' recognition and management of melanoma patients' risk: An Australian population-based study.

    Science.gov (United States)

    Madronio, C M; Armstrong, B K; Watts, C G; Goumas, C; Morton, R L; Curtin, A; Menzies, S W; Mann, G J; Thompson, J F; Cust, A E

    2016-12-01

    Guidelines recommend that health professionals identify and manage individuals at high risk of developing melanoma, but there is limited population-based evidence demonstrating real-world practices. A population-based, observational study was conducted in the state of New South Wales, Australia to determine doctors' knowledge of melanoma patients' risk and to identify factors associated with better identification and clinical management. Data were analysed for 1889 patients with invasive, localised melanoma in the Melanoma Patterns of Care study. This study collected data on all melanoma diagnoses notified to the state's cancer registry during a 12-month period from 2006 to 2007, as well as questionnaire data from the doctors involved in their care. Three-quarters (74%) of patients had doctors who were aware of their risk factor status with respect to personal and family history of melanoma and the presence of many moles. Doctors working in general practice, skin cancer clinics and dermatology settings had better knowledge of patients' risk factors than plastic surgeons. Doctors were 15% more likely to know the family history of younger melanoma patients (risk status, by doctors practising in plastic surgery, dermatology and skin cancer clinic settings, and by female doctors. Both patient-related and doctor-related factors were associated with doctors' recognition and management of melanoma patients' risk and could be the focus of strategies for improving care. Copyright © 2016 Elsevier Ltd. All rights reserved.

  4. Medical Assistant-based care management for high risk patients in small primary care practices

    DEFF Research Database (Denmark)

    Freund, Tobias; Peters-Klimm, Frank; Boyd, Cynthia M.

    2016-01-01

    Background: Patients with multiple chronic conditions are at high risk of potentially avoidable hospital admissions, which may be reduced by care coordination and self-management support. Medical assistants are an increasingly available resource for patient care in primary care practices. Objective......: To determine whether protocol-based care management delivered by medical assistants improves patient care in patients at high risk of future hospitalization in primary care. Design: Two-year cluster randomized clinical trial. Setting: 115 primary care practices in Germany. Patients: 2,076 patients with type 2...... diabetes, chronic obstructive pulmonary disease, or chronic heart failure and a likelihood of hospitalization in the upper quartile of the population, as predicted by insurance data analysis. Intervention: We compared protocol-based care management including structured assessment, action planning...

  5. Systems-based guiding principles for risk modeling, planning, assessment, management, and communication.

    Science.gov (United States)

    Haimes, Yacov Y

    2012-09-01

    This article is grounded on the premise that the complex process of risk assessment, management, and communication, when applied to systems of systems, should be guided by universal systems-based principles. It is written from the perspective of systems engineering with the hope and expectation that the principles introduced here will be supplemented and complemented by principles from the perspectives of other disciplines. Indeed, there is no claim that the following 10 guiding principles constitute a complete set; rather, the intent is to initiate a discussion on this important subject that will incrementally lead us to a more complete set of guiding principles. The 10 principles are as follows: First Principle: Holism is the common denominator that bridges risk analysis and systems engineering. Second Principle: The process of risk modeling, assessment, management, and communication must be systemic and integrated. Third Principle: Models and state variables are central to quantitative risk analysis. Fourth Principle: Multiple models are required to represent the essence of the multiple perspectives of complex systems of systems. Fifth Principle: Meta-modeling and subsystems integration must be derived from the intrinsic states of the system of systems. Sixth Principle: Multiple conflicting and competing objectives are inherent in risk management. Seventh Principle: Risk analysis must account for epistemic and aleatory uncertainties. Eighth Principle: Risk analysis must account for risks of low probability with extreme consequences. Ninth Principle: The time frame is central to quantitative risk analysis. Tenth Principle: Risk analysis must be holistic, adaptive, incremental, and sustainable, and it must be supported with appropriate data collection, metrics with which to measure efficacious progress, and criteria on the basis of which to act. The relevance and efficacy of each guiding principle is demonstrated by applying it to the U.S. Federal Aviation

  6. An obesity/cardiometabolic risk reduction disease management program: a population-based approach.

    Science.gov (United States)

    Villagra, Victor G

    2009-04-01

    Obesity is a critical health concern that has captured the attention of public and private healthcare payers who are interested in controlling costs and mitigating the long-term economic consequences of the obesity epidemic. Population-based approaches to obesity management have been proposed that take advantage of a chronic care model (CCM), including patient self-care, the use of community-based resources, and the realization of care continuity through ongoing communications with patients, information technology, and public policy changes. Payer-sponsored disease management programs represent an important conduit to delivering population-based care founded on similar CCM concepts. Disease management is founded on population-based disease identification, evidence-based care protocols, and collaborative practices between clinicians. While substantial clinician training, technology infrastructure commitments, and financial support at the payer level will be needed for the success of disease management programs in obesity and cardiometabolic risk reduction, these barriers can be overcome with the proper commitment. Disease management programs represent an important tool to combat the growing societal risks of overweight and obesity.

  7. An Integrated Web-based Decision Support System in Disaster Risk Management

    Science.gov (United States)

    Aye, Z. C.; Jaboyedoff, M.; Derron, M. H.

    2012-04-01

    Nowadays, web based decision support systems (DSS) play an essential role in disaster risk management because of their supporting abilities which help the decision makers to improve their performances and make better decisions without needing to solve complex problems while reducing human resources and time. Since the decision making process is one of the main factors which highly influence the damages and losses of society, it is extremely important to make right decisions at right time by combining available risk information with advanced web technology of Geographic Information System (GIS) and Decision Support System (DSS). This paper presents an integrated web-based decision support system (DSS) of how to use risk information in risk management efficiently and effectively while highlighting the importance of a decision support system in the field of risk reduction. Beyond the conventional systems, it provides the users to define their own strategies starting from risk identification to the risk reduction, which leads to an integrated approach in risk management. In addition, it also considers the complexity of changing environment from different perspectives and sectors with diverse stakeholders' involvement in the development process. The aim of this platform is to contribute a part towards the natural hazards and geosciences society by developing an open-source web platform where the users can analyze risk profiles and make decisions by performing cost benefit analysis, Environmental Impact Assessment (EIA) and Strategic Environmental Assessment (SEA) with the support of others tools and resources provided. There are different access rights to the system depending on the user profiles and their responsibilities. The system is still under development and the current version provides maps viewing, basic GIS functionality, assessment of important infrastructures (e.g. bridge, hospital, etc.) affected by landslides and visualization of the impact

  8. RIMAP demonstration project. Risk-based life management of piping system in power plant Heilbronn

    International Nuclear Information System (INIS)

    Bareiss, J.; Buck, P.; Matschecko, B.; Jovanovic, A.; Balos, D.; Perunicic, M.

    2004-01-01

    In the framework of EU project RIMAP [Risk Based Inspection and Maintenance Procedures for European Industry (2000)] a new European Guideline for optimized risk based maintenance and inspection planning of industrial plants (RBLM, Risk Based Life Management) is being developed. The RIMAP project consists of the three clustered projects: - development (RTD); - demonstration (DEMO): - thematic network (TN). Current work and future, planned work in RIMAP demonstration project on applications of the RIMAP methodology in power plants are presented briefly in the first part of the paper. Also presented in the paper are the results of a preliminary analysis of piping system in power plant Heilbronn using the concept of risk-based monitoring as part of overall concept of risk-based life management. Shortly the following issues are discussed in the paper: - identification of critical components; - application of a multilevel risk analysis (...from 'screening' to 'detailed analysis'); - determination of PoF (Probability of Failure); - determination of CoF (Consequence of Failure); - optimation of inspection and maintenance plan. From our experience with the application of the RIMAP methodology the following conclusions can be drawn: The use of risk-based methods in inspection and maintenance of piping systems in power plants gives transparency to the decision making process and gives an optimized maintenance policy based on current state of the components. The results of the work clearly show the power of the proposed method for concentration on critical items: out of 64 monitored components 5 were selected for intermediate analysis and only 1 for the detailed analysis (probabilistic high temperature fracture mechanics)

  9. Strengthening air traffic safety management by moving from outcome-based towards risk-based evaluation of runway incursions

    International Nuclear Information System (INIS)

    Stroeve, Sybert H.; Som, Pradip; Doorn, Bas A. van; Bakker, G.J.

    2016-01-01

    Current safety management of aerodrome operations uses judgements of severity categories to evaluate runway incursions. Incident data show a small minority of severe incursions and a large majority of less severe incursions. We show that these severity judgements are mainly based upon the outcomes of runway incursions, in particular on the closest distances attained. As such, the severity-based evaluation leads to coincidental safety management feedback, wherein causes and risk implications of runway incursions are not well considered. In this paper we present a new framework for the evaluation of runway incursions, which effectively uses all runway incursions, which judges same types of causes similarly, and which structures causes and risk implications. The framework is based on risks of scenarios associated with the initiation of runway incursions. As a basis an inventory of scenarios is provided, which can represent almost all runway incursions involving a conflict with an aircraft. A main step in the framework is the assessment of the conditional probability of a collision given a runway incursion scenario. This can be effectively achieved for large sets of scenarios by agent-based dynamic risk modelling. The results provide detailed feedback on risks of runway incursion scenarios, thus enabling effective safety management. - Highlights: • Current evaluation of runway incursions is primarily based on their outcomes. • A new framework assesses collision risk given initiation of runway incursions. • Agent-based dynamic risk modelling can evaluate the risks of many scenarios. • A developed scenario inventory can represent almost all runway incursions. • The framework provides detailed feedback to safety management.

  10. Incorporating probabilistic seasonal climate forecasts into river management using a risk-based framework

    Science.gov (United States)

    Sojda, Richard S.; Towler, Erin; Roberts, Mike; Rajagopalan, Balaji

    2013-01-01

    [1] Despite the influence of hydroclimate on river ecosystems, most efforts to date have focused on using climate information to predict streamflow for water supply. However, as water demands intensify and river systems are increasingly stressed, research is needed to explicitly integrate climate into streamflow forecasts that are relevant to river ecosystem management. To this end, we present a five step risk-based framework: (1) define risk tolerance, (2) develop a streamflow forecast model, (3) generate climate forecast ensembles, (4) estimate streamflow ensembles and associated risk, and (5) manage for climate risk. The framework is successfully demonstrated for an unregulated watershed in southwest Montana, where the combination of recent drought and water withdrawals has made it challenging to maintain flows needed for healthy fisheries. We put forth a generalized linear modeling (GLM) approach to develop a suite of tools that skillfully model decision-relevant low flow characteristics in terms of climate predictors. Probabilistic precipitation forecasts are used in conjunction with the GLMs, resulting in season-ahead prediction ensembles that provide the full risk profile. These tools are embedded in an end-to-end risk management framework that directly supports proactive fish conservation efforts. Results show that the use of forecasts can be beneficial to planning, especially in wet years, but historical precipitation forecasts are quite conservative (i.e., not very “sharp”). Synthetic forecasts show that a modest “sharpening” can strongly impact risk and improve skill. We emphasize that use in management depends on defining relevant environmental flows and risk tolerance, requiring local stakeholder involvement.

  11. Evaluation of ecosystem-based marine management strategies based on risk assessment

    NARCIS (Netherlands)

    Piet, G.J.; Jongbloed, R.H.; Knights, A.M.; Tamis, J.E.; Paijmans, A.J.; Sluis, van der M.T.; Vries, de P.; Robinson, L.A.

    2015-01-01

    This study presents a comprehensive and generic framework that provides a typology for the identification and selection of consistently defined ecosystem-based management measures and allows a coherent evaluation of these measures based on their performance to achieve policy objectives. The

  12. An integrated risk assessment tool for team-based periodontal disease management.

    Science.gov (United States)

    Thyvalikakath, Thankam P; Padman, Rema; Gupta, Sugandh

    2013-01-01

    Mounting evidence suggests a potential association of periodontal disease with systemic diseases such as diabetes, cardiovascular disease, cancer and stroke. The objective of this study is to develop an integrated risk assessment tool that displays a patients' risk for periodontal disease in the context of their systemic disease, social habits and oral health. Such a tool will be used by not just dental professionals but also by care providers who participate in the team-based care for chronic disease management. Displaying relationships between risk factors and its influence on the patient's general health could be a powerful educational and disease management tool for patients and clinicians. It may also improve the coordination of care provided by the provider-members of a chronic care team.

  13. Risk management and safety

    International Nuclear Information System (INIS)

    Niehaus, F.; Novegno, A.

    1985-01-01

    Risk assessment, including probabilistic analyses, has made great progress over the past decade. In spite of the inherent uncertainties it has now become possible to utilize methods and results for decision making at various levels. This paper will, therefore, review risk management in industrial installations, risk management for energy safety policy and prospects of risk management in highly industrialized areas. (orig.) [de

  14. Rational risk-based decision support for drinking water well managers by optimized monitoring designs

    Science.gov (United States)

    Enzenhöfer, R.; Geiges, A.; Nowak, W.

    2011-12-01

    Advection-based well-head protection zones are commonly used to manage the contamination risk of drinking water wells. Considering the insufficient knowledge about hazards and transport properties within the catchment, current Water Safety Plans recommend that catchment managers and stakeholders know, control and monitor all possible hazards within the catchments and perform rational risk-based decisions. Our goal is to supply catchment managers with the required probabilistic risk information, and to generate tools that allow for optimal and rational allocation of resources between improved monitoring versus extended safety margins and risk mitigation measures. To support risk managers with the indispensable information, we address the epistemic uncertainty of advective-dispersive solute transport and well vulnerability (Enzenhoefer et al., 2011) within a stochastic simulation framework. Our framework can separate between uncertainty of contaminant location and actual dilution of peak concentrations by resolving heterogeneity with high-resolution Monte-Carlo simulation. To keep computational costs low, we solve the reverse temporal moment transport equation. Only in post-processing, we recover the time-dependent solute breakthrough curves and the deduced well vulnerability criteria from temporal moments by non-linear optimization. Our first step towards optimal risk management is optimal positioning of sampling locations and optimal choice of data types to reduce best the epistemic prediction uncertainty for well-head delineation, using the cross-bred Likelihood Uncertainty Estimator (CLUE, Leube et al., 2011) for optimal sampling design. Better monitoring leads to more reliable and realistic protection zones and thus helps catchment managers to better justify smaller, yet conservative safety margins. In order to allow an optimal choice in sampling strategies, we compare the trade-off in monitoring versus the delineation costs by accounting for ill

  15. An evaluation of a risk-based environmental regulation in Brazil: Limitations to risk management of hazardous installations

    International Nuclear Information System (INIS)

    Naime, Andre

    2017-01-01

    The environmental regulation of hazardous projects with risk-based decision-making processes can lead to a deficient management of human exposure to technological hazards. Such an approach for regulation is criticized for simplifying the complexity of decisions involving the economic, social, and environmental aspects of the installation and operation of hazardous facilities in urban areas. Results of a Brazilian case study indicate that oil and gas transmission pipelines may represent a threat to diverse communities if the relationship between such linear projects and human populations is overlooked by regulatory bodies. Results also corroborate known challenges to the implementation of EIA processes and outline limitations to an effective environmental and risk management. Two preliminary topics are discussed to strengthen similar regulatory practices. Firstly, an effective integration between social impact assessment and risk assessment in EIA processes to have a more comprehensive understanding of the social fabric. Secondly, the advancement of traditional management practices for hazardous installations to pursue a strong transition from assessment and evaluation to management and control and to promote an effective interaction between land-use planning and environmental regulation.

  16. The role of risk-based prioritization in total quality management

    Energy Technology Data Exchange (ETDEWEB)

    Bennett, C.T.

    1994-10-01

    The climate in which government managers must make decisions grows more complex and uncertain. All stakeholders - the public, industry, and Congress - are demanding greater consciousness, responsibility, and accountability of programs and their budgets. Yet, managerial decisions have become multifaceted, involve greater risk, and operate over much longer time periods. Over the last four or five decades, as policy analysis and decisions became more complex, scientists from psychology, operations research, systems science, and economics have developed a more or less coherent process called decision analysis to aid program management. The process of decision analysis - a systems theoretic approach - provides the backdrop for this paper. The Laboratory Integrated Prioritization System (LIPS) has been developed as a systems analytic and risk-based prioritization tool to aid the management of the Tri-Labs` (Lawrence Livermore, Los Alamos, and Sandia) operating resources. Preliminary analyses of the effects of LIPS has confirmed the practical benefits of decision and systems sciences - the systematic, quantitative reduction in uncertainty. To date, the use of LIPS - and, hence, its value - has been restricted to resource allocation within the Tri-Labs` operations budgets. This report extends the role of risk-based prioritization to the support of DOE Total Quality Management (TQM) programs. Furthermore, this paper will argue for the requirement to institutionalize an evolutionary, decision theoretic approach to the policy analysis of the Department of Energy`s Program Budget.

  17. An Evidence-Based Review Literature About Risk Indicators and Management of Unknown-Origin Xerostomia

    OpenAIRE

    Agha-Hosseini, Farzaneh; Moosavi, Mahdieh-Sadat

    2013-01-01

    Objective: This evidence-based article reviews risk indicators and management of unknown-origin xerostomia. Xerostomia and hyposalivation refer to different aspects of dry mouth. Xerostomia is a subjective sensation of dry mouth, whilst hyposalivation is defined as an objective assessment of reduced salivary flow rate. About 30% of the elderly (65 years and older) experience xerostomia and hyposalivation. Structural and functional factors, or both may lead to salivary gland dysfunction.Study ...

  18. Health Risk-Based Assessment and Management of Heavy Metals-Contaminated Soil Sites in Taiwan

    Directory of Open Access Journals (Sweden)

    Zueng-Sang Chen

    2010-10-01

    Full Text Available Risk-based assessment is a way to evaluate the potential hazards of contaminated sites and is based on considering linkages between pollution sources, pathways, and receptors. These linkages can be broken by source reduction, pathway management, and modifying exposure of the receptors. In Taiwan, the Soil and Groundwater Pollution Remediation Act (SGWPR Act uses one target regulation to evaluate the contamination status of soil and groundwater pollution. More than 600 sites contaminated with heavy metals (HMs have been remediated and the costs of this process are always high. Besides using soil remediation techniques to remove contaminants from these sites, the selection of possible remediation methods to obtain rapid risk reduction is permissible and of increasing interest. This paper discusses previous soil remediation techniques applied to different sites in Taiwan and also clarified the differences of risk assessment before and after soil remediation obtained by applying different risk assessment models. This paper also includes many case studies on: (1 food safety risk assessment for brown rice growing in a HMs-contaminated site; (2 a tiered approach to health risk assessment for a contaminated site; (3 risk assessment for phytoremediation techniques applied in HMs-contaminated sites; and (4 soil remediation cost analysis for contaminated sites in Taiwan.

  19. Risk management in construction company

    OpenAIRE

    Nučič, Jernej

    2011-01-01

    In master's thesis I discuss the field of risk management process in construction projects from the viewpoint of a building contractor. I present risk overview, previous research in this area and a new approach to risk analysis in construction by project components. The proposed methodology for risk management in a construction company, described in this thesis is based on the proposed checklist. Proposed checklist includes all identified risks in terms of building contractor and ...

  20. Managing risk at Hanford

    International Nuclear Information System (INIS)

    Hesser, W.A.; Stillwell, W.G.; Rutherford, W.A.

    1994-01-01

    Clearly, there is sufficient motivation from Washington for the Hanford community to pay particular attention to the risks associated with the substantial volumes of radiological, hazardous, and mixed waste at Hanford. But there is also another reason for emphasizing risk: Hanford leaders have come to realize that their decisions must consider risk and risk reduction if those decisions are to be technically sound, financially affordable, and publicly acceptable. The 560-square miles of desert land is worth only a few thousand dollars an acre (if that) -- hardly enough to justify the almost two billion dollars that will be spent at Hanford this year. The benefit of cleaning up the Hanford Site is not the land but the reduction of potential risk to the public and the environment for future generations. If risk reduction is our ultimate goal, decisions about priority of effort and resource allocation must consider those risks, now and in the future. The purpose of this paper is to describe how Hanford is addressing the issues of risk assessment, risk management, and risk-based decision making and to share some of our experiences in these areas

  1. Prototype of a Web-based Participative Decision Support Platform in Natural Hazards and Risk Management

    Directory of Open Access Journals (Sweden)

    Zar Chi Aye

    2015-07-01

    Full Text Available This paper presents the current state and development of a prototype web-GIS (Geographic Information System decision support platform intended for application in natural hazards and risk management, mainly for floods and landslides. This web platform uses open-source geospatial software and technologies, particularly the Boundless (formerly OpenGeo framework and its client side software development kit (SDK. The main purpose of the platform is to assist the experts and stakeholders in the decision-making process for evaluation and selection of different risk management strategies through an interactive participation approach, integrating web-GIS interface with decision support tool based on a compromise programming approach. The access rights and functionality of the platform are varied depending on the roles and responsibilities of stakeholders in managing the risk. The application of the prototype platform is demonstrated based on an example case study site: Malborghetto Valbruna municipality of North-Eastern Italy where flash floods and landslides are frequent with major events having occurred in 2003. The preliminary feedback collected from the stakeholders in the region is discussed to understand the perspectives of stakeholders on the proposed prototype platform.

  2. Strategic Risk Management

    OpenAIRE

    Sax, Johanna

    2015-01-01

    The aim of this thesis is to contribute to the literature with an investigation into strategic risk management practices from a strategic management and management accounting perspective. Previous research in strategic risk management has not provided sufficient evidence on the mechanisms behind firm practices, processes and tools for managing strategic risks, and their contingencies for value creation. In particular, the purpose of the thesis has been to fill the gaps in the l...

  3. Mindfulness-Based Interventions for Weight Loss and CVD Risk Management.

    Science.gov (United States)

    Fulwiler, Carl; Brewer, Judson A; Sinnott, Sinead; Loucks, Eric B

    2015-10-01

    Obesity affects more than one-third of U.S. adults and is a major cause of preventable morbidity and mortality, primarily from cardiovascular disease. Traditional behavioral interventions for weight loss typically focus on diet and exercise habits and often give little attention to the role of stress and emotions in the initiation and maintenance of unhealthy behaviors, which may account for their modest results and considerable variability in outcomes. Stress eating and emotional eating are increasingly recognized as important targets of weight loss interventions. Mindfulness-based interventions were specifically developed to promote greater self-efficacy in coping with stress and negative emotions, and appear to be effective for a variety of conditions. In recent years researchers have begun to study mindfulness interventions for weight loss and CVD risk management. This review describes the rationale for the use of mindfulness in interventions for weight loss and CVD risk management, summarizes the research to date, and suggests priorities for future research.

  4. An agent based architecture for high-risk neonate management at neonatal intensive care unit.

    Science.gov (United States)

    Malak, Jaleh Shoshtarian; Safdari, Reza; Zeraati, Hojjat; Nayeri, Fatemeh Sadat; Mohammadzadeh, Niloofar; Farajollah, Seide Sedighe Seied

    2018-01-01

    In recent years, the use of new tools and technologies has decreased the neonatal mortality rate. Despite the positive effect of using these technologies, the decisions are complex and uncertain in critical conditions when the neonate is preterm or has a low birth weight or malformations. There is a need to automate the high-risk neonate management process by creating real-time and more precise decision support tools. To create a collaborative and real-time environment to manage neonates with critical conditions at the NICU (Neonatal Intensive Care Unit) and to overcome high-risk neonate management weaknesses by applying a multi agent based analysis and design methodology as a new solution for NICU management. This study was a basic research for medical informatics method development that was carried out in 2017. The requirement analysis was done by reviewing articles on NICU Decision Support Systems. PubMed, Science Direct, and IEEE databases were searched. Only English articles published after 1990 were included; also, a needs assessment was done by reviewing the extracted features and current processes at the NICU environment where the research was conducted. We analyzed the requirements and identified the main system roles (agents) and interactions by a comparative study of existing NICU decision support systems. The Universal Multi Agent Platform (UMAP) was applied to implement a prototype of our multi agent based high-risk neonate management architecture. Local environment agents interacted inside a container and each container interacted with external resources, including other NICU systems and consultation centers. In the NICU container, the main identified agents were reception, monitoring, NICU registry, and outcome prediction, which interacted with human agents including nurses and physicians. Managing patients at the NICU units requires online data collection, real-time collaboration, and management of many components. Multi agent systems are applied as

  5. A risk-return based model to measure the performance of portfolio management

    Directory of Open Access Journals (Sweden)

    Hamid Reza Vakili Fard

    2014-10-01

    Full Text Available The primary concern in all portfolio management systems is to find a good tradeoff between risk and expected return and a good balance between accepted risk and actual return indicates the performance of a particular portfolio. This paper develops “A-Y Model” to measure the performance of a portfolio and analyze it during the bull and the bear market. This paper considers the daily information of one year before and one year after Iran's 2013 precedential election. The proposed model of this paper provides lost profit and unrealized loss to measure the portfolio performance. The proposed study first ranks the resulted data and then uses some non-parametric methods to see whether there is any change because of the changes in markets on the performance of the portfolio. The results indicate that despite increasing profitable opportunities in bull market, the performance of the portfolio did not match the target risk. As a result, using A-Y Model as a risk and return base model to measure portfolio management's performance appears to reduce risks and increases return of portfolio.

  6. A Risk-Based Interval Two-Stage Programming Model for Agricultural System Management under Uncertainty

    Directory of Open Access Journals (Sweden)

    Ye Xu

    2016-01-01

    Full Text Available Nonpoint source (NPS pollution caused by agricultural activities is main reason that water quality in watershed becomes worse, even leading to deterioration. Moreover, pollution control is accompanied with revenue’s fall for agricultural system. How to design and generate a cost-effective and environmentally friendly agricultural production pattern is a critical issue for local managers. In this study, a risk-based interval two-stage programming model (RBITSP was developed. Compared to general ITSP model, significant contribution made by RBITSP model was that it emphasized importance of financial risk under various probabilistic levels, rather than only being concentrated on expected economic benefit, where risk is expressed as the probability of not meeting target profit under each individual scenario realization. This way effectively avoided solutions’ inaccuracy caused by traditional expected objective function and generated a variety of solutions through adjusting weight coefficients, which reflected trade-off between system economy and reliability. A case study of agricultural production management with the Tai Lake watershed was used to demonstrate superiority of proposed model. Obtained results could be a base for designing land-structure adjustment patterns and farmland retirement schemes and realizing balance of system benefit, system-failure risk, and water-body protection.

  7. Commodity risk management

    Directory of Open Access Journals (Sweden)

    Hilary Till

    2016-09-01

    Full Text Available This article discusses the practical issues involved in applying a disciplined risk management methodology to commodity futures trading. Accordingly, the paper shows how to apply methodologies derived from both conventional asset management and hedge fund management to futures trading. The article also discusses some of the risk management issues that are unique to leveraged futures trading.

  8. Commodity risk management

    OpenAIRE

    Hilary Till

    2016-01-01

    This article discusses the practical issues involved in applying a disciplined risk management methodology to commodity futures trading. Accordingly, the paper shows how to apply methodologies derived from both conventional asset management and hedge fund management to futures trading. The article also discusses some of the risk management issues that are unique to leveraged futures trading.

  9. Certification and risk management

    International Nuclear Information System (INIS)

    Villanueva Fernandez, M.

    2015-01-01

    Nowadays more organizations are increasingly aware of the importance of properly managing the uncertainty of its activities and build competitive advantages through the identification, assessment and management of risks that they face. Risk management is also an aspect of great importance within the new version of ISO fact it is one of the most innovative and also the most laborious, because an appropriate risk management achieves expected results and customer satisfaction. In conclusion, risk management is a new field of business and can be considered a cross-cutting component for other relevant factors of organizational change management. (Author)

  10. Risk Management method to ERP systems implementation based os critical sucess factors

    Directory of Open Access Journals (Sweden)

    Márcio Saez Caputo

    2004-10-01

    Full Text Available From the second half of years 90, the Enterprise Resource Planning (ERP systems implementation appears like one of the main investment focus related to the use of information technology in the companies, which aimed to acquire competitive advantages through cost reduction and differentiation of products with the use of these systems. ERP implementation showed to be much more than a technology project, involving structural and managing changes, becoming a complex and high risk process for the organizations. In the literature specialized on ERP, there are many examples of the difficulties of this type of project and about implementations that had not reached the expected objectives, frustrating the expectations of the contractors. The present work describes, first of all, the development of a risk management method to ERP systems implementation, based on critical success factors. Then, a case of application of the considered method is analyzed, detailing the steps and the results gotten until the moment. To the end, evidences regarding to how the method helps to improve risk management during ERP implementations are presented.

  11. [Global risk management].

    Science.gov (United States)

    Sghaier, W; Hergon, E; Desroches, A

    2015-08-01

    Risk management is a fundamental component of any successful company, whether it is in economic, societal or environmental aspect. Risk management is an especially important activity for companies that optimal security challenge of products and services is great. This is the case especially for the health sector institutions. Risk management is therefore a decision support tool and a means to ensure the sustainability of an organization. In this context, what methods and approaches implemented to manage the risks? Through this state of the art, we are interested in the concept of risk and risk management processes. Then we focus on the different methods of risk management and the criteria for choosing among these methods. Finally we highlight the need to supplement these methods by a systemic and global approach including through risk assessment by the audits. Copyright © 2015 Elsevier Masson SAS. All rights reserved.

  12. Assistance to the states with risk based data management. Quarterly technical progress report, January 1, 1995--March 31, 1995

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-06-01

    This report describes activities associated with the risk based data management systems (RBDMS) project. The RBDMS applies to data pertaining to injection well operations. This report describes assistance provided to the states of ALaska, Mississippi, Montana, and Nebraska for the conversion of data from existing data management systems, coding and internal testing of the RBDMS, document preparation, training, technology transfer, and project management.

  13. An evidence-based review literature about risk indicators and management of unknown-origin xerostomia.

    Science.gov (United States)

    Agha-Hosseini, Farzaneh; Moosavi, Mahdieh-Sadat

    2013-05-01

    This evidence-based article reviews risk indicators and management of unknown-origin xerostomia. Xerostomia and hyposalivation refer to different aspects of dry mouth. Xerostomia is a subjective sensation of dry mouth, whilst hyposalivation is defined as an objective assessment of reduced salivary flow rate. About 30% of the elderly (65 years and older) experience xerostomia and hyposalivation. Structural and functional factors, or both may lead to salivary gland dysfunction. The EBM literature search was conducted by using the medical literature database MEDLINE via PubMed and OvidMedline search engines. Results were limited to English language articles (1965 to present) including clinical trials (CT), randomized controlled trials (RCT), systematic reviews and review articles. Case control or cohort studies were included for the etiology. Neuropathic etiology such as localized oral alteration of thermal sensations, saliva composition change (for example higher levels of K, Cl, Ca, IgA, amylase, calcium, PTH and cortisol), lower levels of estrogen and progesterone, smaller salivary gland size, and illnesses such as lichen planus, are risk indicators for unknown-origin xerostomia. The management is palliative and preventative. Management of symptoms includes drug administration (systemic secretogogues, saliva substitutes and bile secretion-stimulator), night guard, diet and habit modifications. Other managements may be indicated to treat adverse effects. Neuropathic etiology, saliva composition change, smaller salivary gland size, and illnesses such as oral lichen planus can be suggestive causes for unknown-origin xerostomia. However, longitudinal studies will be important to elucidate the causes of unknown-origin xerostomia.

  14. A decision‐making framework for flood risk management based on a Bayesian Influence Diagram

    DEFF Research Database (Denmark)

    Åstrøm, Helena Lisa Alexandra; Madsen, Henrik; Friis-Hansen, Peter

    2014-01-01

    new values of variables are observed, assuring that the risk assessment is constantly based on best available knowledge for each variable. Input data to IDs can come from multiple sources, and since each variable is described with a probability density function (pdf) this method provides an effective......We develop a Bayesian Influence Diagram (ID) approach for risk‐based decision‐ making in flood management. We show that it is a flexible decision‐making tool to assess flood risk in a non‐stationary environment and with an ability to test different adaptation measures in order to agree on the best...... combination of adaptation measures and the best time to invest in flood adaptation. IDs use Bayesian statistics which apply prior probabilities to produce posterior probabilities and, hence, use Bayesian probabilistic thinking to describe relationships between variables in a system. . Hence, we allow...

  15. Management of groundwater in farmed pond area using risk-based regulation.

    Science.gov (United States)

    Huang, Jun-Ying; Liao, Chiao-Miao; Lin, Kao-Hung; Lee, Cheng-Haw

    2014-09-01

    Blackfoot disease (BFD) had occurred seriously in the Yichu, Hsuehchia, Putai, and Peimen townships of Chia-Nan District of Taiwan in the early days. These four townships are the districts of fishpond cultivation domestically in Taiwan. Groundwater becomes the main water supply because of short income in surface water. The problems of over pumping in groundwater may not only result in land subsidence and seawater intrusion but also be harmful to the health of human giving rise to the bioaccumulation via food chain in groundwater with arsenic (As). This research uses sequential indicator simulation (SIS) to characterize the spatial arsenic distribution in groundwater in the four townships. Risk assessment is applied to explore the dilution ratio (DR) of groundwater utilization, which is defined as the ratio showing the volume of groundwater utilization compared to pond water, for fish farming in the range of target cancer risk (TR) especially on the magnitude of 10(-4)~10(-6). Our study results reveal that the 50th percentile of groundwater DRs served as a regulation standard can be used to perform fish farm groundwater management for a TR of 10(-6). For a TR of 5 × 10(-6), we suggest using the 75th percentile of DR for groundwater management. For a TR of 10(-5), we suggest using the 95th percentile of the DR standard for performing groundwater management in fish farm areas. For the TR of exceeding 5 × 10(-5), we do not suggest establishing groundwater management standards under these risk standards. Based on the research results, we suggest that establishing a TR at 10(-5) and using the 95th percentile of DR are best for groundwater management in fish farm areas.

  16. Risk Level Based Management System: a control banding model for occupational health and safety risk management in a highly regulated environment

    Energy Technology Data Exchange (ETDEWEB)

    Zalk, D; Kamerzell, R; Paik, S; Kapp, J; Harrington, D; Swuste, P

    2009-05-27

    The Risk Level Based Management System (RLBMS) is an occupational risk management (ORM) model that focuses occupational safety, hygeiene, and health (OSHH) resources on the highest risk procedures at work. This article demonstrates the model's simplicity through an implementation within a heavily regulated research institution. The model utilizes control banding strategies with a stratification of four risk levels (RLs) for many commonly performed maintenance and support activities, characterizing risk consistently for comparable tasks. RLBMS creates an auditable tracking of activities, maximizes OSHH professional field time, and standardizes documentation and control commensurate to a given task's RL. Validation of RLs and their exposure control effectiveness is collected in a traditional quantitative collection regime for regulatory auditing. However, qualitative risk assessment methods are also used within this validation process. Participatory approaches are used throughout the RLBMS process. Workers are involved in all phases of building, maintaining, and improving this model. This work participation also improves the implementation of established controls.

  17. Managing the risks of disease transmission through trade: a commodities-based approach?

    Science.gov (United States)

    Brückner, G K

    2011-04-01

    Since its founding in 1924, the World Organisation for Animal Health (OIE) has facilitated safe trade in animals and animal products by developing effective standards to prevent the spread of animal diseases across the globe. A protocol for recognising the disease-free status of countries is an integral part of this process and has been adopted and advanced through the years to assist OIE Member Countries in placing disease-free animals and their products on the international market. Options such as trade from disease-free zones and disease-free compartments are now available to Members and have proven to be a positive mechanism for facilitating trade. A further option is trading in safe commodities, i.e. animals and animal products that have been identified as safe to trade even in the presence of disease, either with or without applying risk mitigation measures before export. Although most Members have incorporated the acceptance of disease-free countries or zones into their animal health policies and sanitary measures, there still appears to be a reluctance to trade in commodities from infected countries, despite clear, scientifically based risk management standards that can be applied if needed. This paper offers some examples reflecting the apparent reluctance to trade in commodities and discusses how the standards in the OIE's Terrestrial Animal Health Code could be used to apply scientifically based risk management practices to review outdated policies.

  18. MO-E-9A-01: Risk Based Quality Management: TG100 In Action

    International Nuclear Information System (INIS)

    Huq, M; Palta, J; Dunscombe, P; Thomadsen, B

    2014-01-01

    One of the goals of quality management in radiation therapy is to gain high confidence that patients will receive the prescribed treatment correctly. To accomplish these goals professional societies such as the American Association of Physicists in Medicine (AAPM) has published many quality assurance (QA), quality control (QC), and quality management (QM) guidance documents. In general, the recommendations provided in these documents have emphasized on performing device-specific QA at the expense of process flow and protection of the patient against catastrophic errors. Analyses of radiation therapy incidents find that they are most often caused by flaws in the overall therapy process, from initial consult through final treatment, than by isolated hardware or computer failures detectable by traditional physics QA. This challenge is shared by many intrinsically hazardous industries. Risk assessment tools and analysis techniques have been developed to define, identify, and eliminate known and/or potential failures, problems, or errors, from a system, process and/or service before they reach the customer. These include, but are not limited to, process mapping, failure modes and effects analysis (FMEA), fault tree analysis (FTA), and establishment of a quality management program that best avoids the faults and risks that have been identified in the overall process. These tools can be easily adapted to radiation therapy practices because of their simplicity and effectiveness to provide efficient ways to enhance the safety and quality of treatment processes. Task group 100 (TG100) of AAPM has developed a risk-based quality management program that uses these tools. This session will be devoted to a discussion of these tools and how these tools can be used in a given radiotherapy clinic to develop a risk based QM program. Learning Objectives: Learn how to design a process map for a radiotherapy process. Learn how to perform a FMEA analysis for a given process. Learn what

  19. MO-E-9A-01: Risk Based Quality Management: TG100 In Action

    Energy Technology Data Exchange (ETDEWEB)

    Huq, M [University of Pittsburgh Medical Center, Pittsburgh, PA (United States); Palta, J [Virginia Commonwealth University, Richmond, VA (United States); Dunscombe, P [Tom Baker Cancer Centre, Calgary, AB (Canada); Thomadsen, B [University of Wisconsin, Madison, WI (United States)

    2014-06-15

    One of the goals of quality management in radiation therapy is to gain high confidence that patients will receive the prescribed treatment correctly. To accomplish these goals professional societies such as the American Association of Physicists in Medicine (AAPM) has published many quality assurance (QA), quality control (QC), and quality management (QM) guidance documents. In general, the recommendations provided in these documents have emphasized on performing device-specific QA at the expense of process flow and protection of the patient against catastrophic errors. Analyses of radiation therapy incidents find that they are most often caused by flaws in the overall therapy process, from initial consult through final treatment, than by isolated hardware or computer failures detectable by traditional physics QA. This challenge is shared by many intrinsically hazardous industries. Risk assessment tools and analysis techniques have been developed to define, identify, and eliminate known and/or potential failures, problems, or errors, from a system, process and/or service before they reach the customer. These include, but are not limited to, process mapping, failure modes and effects analysis (FMEA), fault tree analysis (FTA), and establishment of a quality management program that best avoids the faults and risks that have been identified in the overall process. These tools can be easily adapted to radiation therapy practices because of their simplicity and effectiveness to provide efficient ways to enhance the safety and quality of treatment processes. Task group 100 (TG100) of AAPM has developed a risk-based quality management program that uses these tools. This session will be devoted to a discussion of these tools and how these tools can be used in a given radiotherapy clinic to develop a risk based QM program. Learning Objectives: Learn how to design a process map for a radiotherapy process. Learn how to perform a FMEA analysis for a given process. Learn what

  20. Risk based knowledge assessments: towards a toolbox for managing key knowledge assets

    International Nuclear Information System (INIS)

    Bright, Clive

    2008-01-01

    Full text: It is now well acknowledged that considerable Knowledge Management (KM) issues are faced by national and international nuclear communities. Much of these problems relate to issues of an ageing workforce and the significantly reduced influx of new generation of nuclear engineers and scientists. The management discipline of KM contains a broad spectrum of methods and techniques. However, the effective implementation of a KM strategy requires the selection and deployment of appropriate and targeted approaches that are pertinent to the particular issues of the technical or business area within an organisation. A clear strategy is contingent upon an assessment of what are the knowledge areas and what are the key (knowledge) risk areas. In particular the following issues have to be addressed: 'what knowledge exists?', 'what is the nature and format of that knowledge?' and 'what knowledge is key to our continued, safe, and effective operation?'. Answers to such questions will enable an organisation to prioritise KM effort and employ subsequent KM approaches that are appropriate. Subsequent approaches ranging from the utilisation of information technologies, such as databases; knowledge retention methods; and the setting up of Community of Practices to share knowledge and experience. This paper considers a risk assessment based approach to KM. In so doing the paper extends work previously reported on an approach to conducting knowledge audits by considering the integration of that approach with approaches to (knowledge) risk assessment. The paper also provides a brief review of the various KM approaches that can act to reduce the level of risk faced by an organisation. The paper concludes by reflecting upon the role, value of deploying such a risk based approach. (author)

  1. Leaching characteristics, ecotoxicity, and risk assessment based management of mine wastes

    Science.gov (United States)

    Kim, J.; Ju, W. J.; Jho, E. H.; Nam, K.; Hong, J. K.

    2016-12-01

    Mine wastes generated during mining activities in metal mines generally contain high concentrations of metals that may impose toxic effects to surrounding environment. Thus, it is necessary to properly assess the mining-impacted landscapes for management. The study investigated leaching characteristics, potential environmental effects, and human health risk of mine wastes from three different metal mines in South Korea (molybdenum mine, lead-zinc mine, and magnetite mine). The heavy metal concentrations in the leachates obtained by using the Korean Standard Test Method for Solid Wastes (STM), Toxicity Characteristics Leaching Procedure (TCLP), and Synthetic Precipitation Leaching Procedure (SPLP) met the Korea Waste Control Act and the USEPA region 3 regulatory levels accordingly, even though the mine wastes contained high concentrations of metals. Assuming that the leachates may get into nearby water sources, the leachate toxicity was tested using Daphnia Magna. The toxic unit (TU) values after 24 h and 48 h exposure of all the mine wastes tested met the Korea Allowable Effluent Water Quality Standards (TUwaste may have long-term toxic effects (TU>1 for the eluent at L/S of 30) implying that the long-term effect of mine wastes left in mining areas need to be assessed. Considering reuse of mine wastes as a way of managing mine wastes, the human health risk assessment of reusing the lead-zinc mine waste in industrial areas was carried out using the bioavailable fraction of the heavy metals contained in the mine wastes, which was determined by using the Solubility/Bioavailability Research Consortium method. There may be potential carcinogenic risk (9.7E-05) and non-carcinogenic risk (HI, Hazard Index of 1.0E+00) as CR≧1.0E-05 has carcinogenic risk and HI≧1.0E+00 has non-carcinogenic risk. Overall, this study shows that not only the concentration-based assessment but ecological toxic effect and human health risk based assessments can be utilized for mining

  2. Agile risk management

    CERN Document Server

    Moran, Alan

    2014-01-01

    This work is the definitive guide for IT managers and agile practitioners. It elucidates the principles of agile risk management and how these relate to individual projects. Explained in clear and concise terms, this synthesis of project risk management and agile techniques is illustrated using the major methodologies such as XP, Scrum and DSDM.Although the agile community frequently cites risk management, research suggests that risk is often narrowly defined and, at best, implicitly treated, which in turn leads to an inability to make informed decisions concerning risk and reward and a poor u

  3. Risk Management Implementation Tool

    Science.gov (United States)

    Wright, Shayla L.

    2004-01-01

    Continuous Risk Management (CM) is a software engineering practice with processes, methods, and tools for managing risk in a project. It provides a controlled environment for practical decision making, in order to assess continually what could go wrong, determine which risk are important to deal with, implement strategies to deal with those risk and assure the measure effectiveness of the implemented strategies. Continuous Risk Management provides many training workshops and courses to teach the staff how to implement risk management to their various experiments and projects. The steps of the CRM process are identification, analysis, planning, tracking, and control. These steps and the various methods and tools that go along with them, identification, and dealing with risk is clear-cut. The office that I worked in was the Risk Management Office (RMO). The RMO at NASA works hard to uphold NASA s mission of exploration and advancement of scientific knowledge and technology by defining and reducing program risk. The RMO is one of the divisions that fall under the Safety and Assurance Directorate (SAAD). I worked under Cynthia Calhoun, Flight Software Systems Engineer. My task was to develop a help screen for the Continuous Risk Management Implementation Tool (RMIT). The Risk Management Implementation Tool will be used by many NASA managers to identify, analyze, track, control, and communicate risks in their programs and projects. The RMIT will provide a means for NASA to continuously assess risks. The goals and purposes for this tool is to provide a simple means to manage risks, be used by program and project managers throughout NASA for managing risk, and to take an aggressive approach to advertise and advocate the use of RMIT at each NASA center.

  4. Financial Risk Management

    OpenAIRE

    Catalin-Florinel Stanescu; Laurentiu Mircea Simion

    2011-01-01

    Concerns about the financial risk is increasing. In this climate, companies of all types and sizes want a robust framework for financial risk management to meet compliance requirements, contribute to better decision making and increase performance. Financial risk management professionals working with financial institutions and other corporate clients to achieve these objectives.

  5. Evaluation of wholesale electric power market rules and financial risk management by agent-based simulations

    Science.gov (United States)

    Yu, Nanpeng

    As U.S. regional electricity markets continue to refine their market structures, designs and rules of operation in various ways, two critical issues are emerging. First, although much experience has been gained and costly and valuable lessons have been learned, there is still a lack of a systematic platform for evaluation of the impact of a new market design from both engineering and economic points of view. Second, the transition from a monopoly paradigm characterized by a guaranteed rate of return to a competitive market created various unfamiliar financial risks for various market participants, especially for the Investor Owned Utilities (IOUs) and Independent Power Producers (IPPs). This dissertation uses agent-based simulation methods to tackle the market rules evaluation and financial risk management problems. The California energy crisis in 2000-01 showed what could happen to an electricity market if it did not go through a comprehensive and rigorous testing before its implementation. Due to the complexity of the market structure, strategic interaction between the participants, and the underlying physics, it is difficult to fully evaluate the implications of potential changes to market rules. This dissertation presents a flexible and integrative method to assess market designs through agent-based simulations. Realistic simulation scenarios on a 225-bus system are constructed for evaluation of the proposed PJM-like market power mitigation rules of the California electricity market. Simulation results show that in the absence of market power mitigation, generation company (GenCo) agents facilitated by Q-learning are able to exploit the market flaws and make significantly higher profits relative to the competitive benchmark. The incorporation of PJM-like local market power mitigation rules is shown to be effective in suppressing the exercise of market power. The importance of financial risk management is exemplified by the recent financial crisis. In this

  6. IMPLEMENTING A RISK MANAGEMENT STANDARD

    Directory of Open Access Journals (Sweden)

    Constantin PREDA

    2013-01-01

    Full Text Available After risk management “conquered” more and more project managers’ minds and showed its benefits for business and programs, the need to have a global risk management standard has become a crucial issue in the world of risk management. But having a global risk management standard has been a big challenge, starting from the decision of developing the standard (March-June 2005, to the moment of publishing it, November 2009. So, developing the ISO 31000:2009 standard has been more or less like a bumpy ride. Apparently, the people involved in developing the global risk management standard understood from the very beginning that no challenges are too big, nor any tasks too small and that the task of having a new, comprehensive global risk management standard should be completed with excellence: defining the principles and the framework guiding the risk management process applicable for all type of organizations and for a wide range of activities. Coming up with a global standard should always be based on the real organizations’ needs and should fulfill real risk management requirements. The article is trying to present the pros and cons of risk management standard implementation, challenging the implementation process itself and the added value of implementing the standard due to the lack of implementation enablers, like risk culture, a real problem especially in an international environment.

  7. THE MANAGEMENT OF CREDIT RISK ACCORDING TO INTERNAL RATINGS- BASED APPROACH

    Directory of Open Access Journals (Sweden)

    BOLOCAN DRAGOS-MIHAIL

    2010-12-01

    Full Text Available The internal ratings based approach (IRB Approach was created as part of Basel II replacing the original Basle Accord of 1988 (Basle I in an effort to create a better framework for regulating bank capital. This paper covers the methodology and components of the IRB Approach used to determine capital requirements for credit risk. Such an approach, which relies heavily upon a banks internal assessment of its counterparties and exposures, can secure two key objectives consistent with those which support the wider review of The New Basel Capital Accord.. IRB approach should promote safety and soundness in the financial system and, consistent with providing incentive compatibility, that the structure and requirements of the IRB approach do not impinge upon or undermine banks well-established lending and credit risk management practices

  8. Community-Based Management Challenges in Disaster Risk Reduction: A Content Analysis in Iran

    Directory of Open Access Journals (Sweden)

    Seyed Hossein Hosseini

    2017-01-01

    Conclusion: Firstly, managers should accept the community as a major hub of the process to harness the power of community. Secondly, using capable and trained managers familiar with the concepts, literature, and challenges in the field of disasters increase participation of people in disaster risk management.

  9. DEFENSE PROGRAMS RISK MANAGEMENT FRAMEWORK

    Directory of Open Access Journals (Sweden)

    Constantin PREDA

    2012-01-01

    Full Text Available For the past years defense programs have faced delays in delivering defense capabilities and budget overruns. Stakeholders are looking for ways to improve program management and the decision making process given the very fluid and uncertain economic and political environment. Consequently, they have increasingly resorted to risk management as the main management tool for achieving defense programs objectives and for delivering the defense capabilities strongly needed for the soldiers on the ground on time and within limited defense budgets. Following a risk management based decision-making approach the stakeholders are expected not only to protect program objectives against a wide range of risks but, at the same time, to take advantage of the opportunities to increase the likelihood of program success. The prerequisite for making risk management the main tool for achieving defense programs objectives is the design and implementation of a strong risk management framework as a foundation providing an efficient and effective application of the best risk management practices. The aim of this paper is to examine the risk management framework for defense programs based on the ISO 31000:2009 standard, best risk management practices and the defense programs’ needs and particularities. For the purposes of this article, the term of defense programs refers to joint defense programs.

  10. Value of risk management

    OpenAIRE

    Vik, Marie Amdal

    2012-01-01

    Master's thesis in Risk management The overall aim of this study was to discuss the validity of the hypothesis that risk management contributes with added value to projects and the enterprise holding the projects, and consequently to the enterprise’s stakeholders. To examine this hypothesis, a case study of three projects taken from the same portfolio at Statoil was selected. The projects were said to have an active risk management. Data was collected from the project’s documentation as...

  11. Exchange Risk Management Policy

    CERN Document Server

    2005-01-01

    At the Finance Committee of March 2005, following a comment by the CERN Audit Committee, the Chairman invited the Management to prepare a document on exchange risk management policy. The Finance Committee is invited to take note of this document.

  12. Preliminary characterization of risks in the nuclear waste management system based on information in the literature

    International Nuclear Information System (INIS)

    Daling, P.M.; Rhoads, R.E.; Van Luick, A.E.; Fecht, B.A.; Nilson, S.A.; Sevigny, N.L.; Armstrong, G.R.; Hill, D.H.; Rowe, M.; Stern, E.

    1992-01-01

    This document presents preliminary information on the radiological and nonradiological risks in the nuclear waste management system. The objective of the study was to (1) review the literature containing information on risks in the nuclear waste management system and (2) use this information to develop preliminary estimates of the potential magnitude of these risks. Information was collected on a broad range of risk categories to assist the US Department of Energy (DOE) in communicating information about the risks in the waste management systems. The study examined all of the portions of the nuclear waste management system currently expected to be developed by the DOE. The scope of this document includes the potential repository, the integral MRS facility, and the transportation system that supports the potential repository and the MRS facility. Relevant literature was reviewed for several potential repository sites and geologic media. A wide range of ''risk categories'' are addressed in this report: (1) public and occupational risks from accidents that could release radiological materials, (2) public and occupational radiation exposure resulting from routine operations, (3) public and occupational risks from accidents involving hazards other than radioactive materials, and (4) public and occupational risks from exposure to nonradioactive hazardous materials during routine operations. The report is intended to provide a broad spectrum of risk-related information about the waste management system. This information is intended to be helpful for planning future studies

  13. Preliminary characterization of risks in the nuclear waste management system based on information in the literature

    Energy Technology Data Exchange (ETDEWEB)

    Daling, P.M.; Rhoads, R.E.; Van Luick, A.E.; Fecht, B.A.; Nilson, S.A.; Sevigny, N.L. [Pacific Northwest Lab., Richland, WA (United States); Armstrong, G.R. [Westinghouse Hanford Co., Richland, WA (United States); Hill, D.H.; Rowe, M.; Stern, E. [Brookhaven National Lab., Upton, NY (United States)

    1992-01-01

    This document presents preliminary information on the radiological and nonradiological risks in the nuclear waste management system. The objective of the study was to (1) review the literature containing information on risks in the nuclear waste management system and (2) use this information to develop preliminary estimates of the potential magnitude of these risks. Information was collected on a broad range of risk categories to assist the US Department of Energy (DOE) in communicating information about the risks in the waste management systems. The study examined all of the portions of the nuclear waste management system currently expected to be developed by the DOE. The scope of this document includes the potential repository, the integral MRS facility, and the transportation system that supports the potential repository and the MRS facility. Relevant literature was reviewed for several potential repository sites and geologic media. A wide range of ``risk categories`` are addressed in this report: (1) public and occupational risks from accidents that could release radiological materials, (2) public and occupational radiation exposure resulting from routine operations, (3) public and occupational risks from accidents involving hazards other than radioactive materials, and (4) public and occupational risks from exposure to nonradioactive hazardous materials during routine operations. The report is intended to provide a broad spectrum of risk-related information about the waste management system. This information is intended to be helpful for planning future studies.

  14. Effectiveness of the management of price risk methodologies for the corn market based on trading signals

    Directory of Open Access Journals (Sweden)

    W. Rossouw

    2013-03-01

    Full Text Available Corn production is scattered geographically over various continents, but most of it is grown in the United States. As such, the world price of corn futures contracts is largely dominated by North American corn prices as traded on the Chicago Board of Trade. In recent years, this market has been characterised by an increase in price volatility and magnitude of price movement as a result of decreasing stock levels. The development and implementation of an effective and successful derivative price risk management strategy based on the Chicago Board of Trade corn futures contract will therefore be of inestimable value to market stakeholders worldwide. The research focused on the efficient market hypothesis and the possibility of contesting this phenomenon through an application of a derivative price risk management methodology. The methodology is based on a combination of an analysis of market trends and technical oscillators with the objective of generating returns superior to that of a market benchmark. The study found that market participants are currently unable to exploit price movement in a manner which results in returns that contest the notion of efficient markets. The methodology proposed, however, does allow the user to consistently achieve returns superior to that of a predetermined market benchmark. The benchmark price for the purposes of this study was the average price offered by the market over the contract lifetime, and as such, the efficient market hypothesis was successfully contested

  15. A risk-based decision-making game relevant to water management. Try it yourself!

    Science.gov (United States)

    Pappenberger, Florian; van Andel, Schalk Jan; Wood, Andy; Ramos, Maria-Helena

    2013-04-01

    Monthly or seasonal streamflow forecasts are essential to improve water planning (eg., water allocation) and anticipate severe events like droughts. Additionally, multipurpose water reservoirs usually integrate hydrologic inflow forecasts to their operational management rules to optimize water allocation or its economic value, to mitigate droughts, for flood and ecological control, among others. Given the need to take into account uncertainties at long lead times to allow for optimal risk-based decisions, the use of probabilistic forecasts in this context is inevitable. In this presentation, we will engage a risk-based decision-making game, where each participant will act as a water manager. A sequence of probabilistic inflow forecasts will be presented to be used to make a reservoir release decision at a monthly time-step, subject to a few constraints -- e.g., an end of year target pool elevation, a maximum release and a minimum downstream flow. After each decision, the actual inflow will be presented and the consequences of the decisions made will be discussed together with the participants of the session. This experience will allow participants to experience firsthand the challenges of probabilistic, quantitative decision-making.

  16. Identifying and Managing Risk.

    Science.gov (United States)

    Abraham, Janice M.

    1999-01-01

    The role of the college or university chief financial officer in institutional risk management is (1) to identify risk (physical, casualty, fiscal, business, reputational, workplace safety, legal liability, employment practices, general liability), (2) to develop a campus plan to reduce and control risk, (3) to transfer risk, and (4) to track and…

  17. Managing Operational Risk

    OpenAIRE

    Stanciu Victoria; Ali Eden; Ivancenco Veronica Constanta

    2010-01-01

    Managing risks become a very challenging task for any organization and one of its priorities. The rising complexity of modern business processes, the globalization and the IT business perspective determined important changes in making business approach bringing opportunities but also increasing risks. Recent years have emphasized concern and focus on risk, and it became increasingly clear that a need exists for a robust framework to effectively identify, assess, and manage risk. COSO response...

  18. Risk management overview

    International Nuclear Information System (INIS)

    McGovern, S.

    1995-01-01

    Launching of the first natural gas contract by the New York Mercantile Exchange (NYMEX) in April 1990 was a huge success which allowed natural gas to surpass crude oil as the most successful launch of any commodity contract. Despite this unprecedented initial success it must be kept in mind that in a competitive marketplace there are risks of many kinds (market risks, price risks, basis risks, currency risks and timing risks), that parties must deal with in everyday operations. The concept of risk management was defined, techniques and issues in risk management were explained, a glossary of fully explained industry terms, and basic financial tools most often used in risk management, were provided. 11 figs

  19. Managing the financial risk of low water levels in Great Lakes with index-based contracts

    Science.gov (United States)

    Meyer, E.; Characklis, G. W.; Brown, C. M.; Moody, P.

    2014-12-01

    Low water levels in the Great Lakes have recently had significant financial impacts on the region's commercial shipping, responsible for transporting millions of dollars' worth of bulk goods each year. Low lake levels can significantly affect shipping firms, as cargo capacity is a function of draft, or the distance between water level and the ship's bottom. Draft increases with weight, and lower lake levels force ships to reduce cargo to prevent running aground in shallow harbors, directly impacting the finances of shipping companies. Risk transfer instruments may provide adaptable, yet unexplored, alternatives for managing these financial risks, at significantly less expense than more traditional solutions (e.g., dredging). Index-based financial instruments can be particularly attractive as contract payouts are directly linked to well-defined transparent metrics (e.g., lake levels), eliminating the need for subjective adjustors, as well as concerns over moral hazard. In developing such instruments, a major challenge is identifying an index that is well correlated with financial losses, and thus a contract that reliably pays out when losses are experienced (low basis risk). In this work, a relationship between lake levels and shipping revenues is developed, and actuarial analyses of the frequency and magnitude of revenue losses is completed using this relationship and synthetic water level data. This analysis is used to develop several types of index-based contracts. A standardized suite of binary contracts is developed, with each indexed to lake levels and priced according to predefined thresholds. These are combined to form portfolios with different objectives (e.g. options, collars), with optimal portfolio structure and length of coverage determined by limiting basis risk and contract cost, using simulations over the historic dataset. Results suggest that portfolios of these binary contracts can substantially reduce the risk of financial losses during periods of

  20. MANAGEMENT OF RISKS BASED ON INTERACTION BETWEEN CONSTRUCTION EXPERT AND CUSTOMER ORGANIZATION

    Directory of Open Access Journals (Sweden)

    Александр Васильевич Харитонович

    2016-02-01

    Full Text Available The paper describes problems connected to management of risk and key characteristics of interaction of construction expert and organization-customer of expert services. We have conducted the analysis of different schemes used for management of risk, their advantages and disadvantages. In addition authors describe the main opportunities that appear in the organization as a result of the systematic engagement of an external expert at different stages of investment and construction project (getting recommendations aimed at improving of the organization adaptability to changes and risks; improving the efficiency of management of investment and construction projects etc..

  1. An Evidence-Based Review Literature About Risk Indicators and Management of Unknown-Origin Xerostomia

    Directory of Open Access Journals (Sweden)

    Farzaneh Agha-hosseini

    2013-01-01

    Full Text Available Objective: This evidence-based article reviews risk indicators and management of unknown-origin xerostomia. Xerostomia and hyposalivation refer to different aspects of dry mouth. Xerostomia is a subjective sensation of dry mouth, whilst hyposalivation is defined as an objective assessment of reduced salivary flow rate. About 30% of the elderly (65 years and older experience xerostomia and hyposalivation. Structural and functional factors, or both may lead to salivary gland dysfunction.Study Selection: The EBM literature search was conducted by using the medical literature database MEDLINE via PubMed and OvidMedline search engines. Results were limited to English language articles (1965 to present including clinical trials (CT, randomized controlled trials (RCT, systematic reviews and review articles. Case control or cohort studies were included for the etiology.Results: Neuropathic etiology such as localized oral alteration of thermal sensations, saliva composition change (for example higher levels of K, Cl, Ca, IgA, amylase, calcium, PTH and cortisol, lower levels of estrogen and progesterone, smaller salivary gland size, and illnesses such as lichen planus, are risk indicators for unknown-origin xerostomia. The management is palliative and preventative. Management of symptoms includes drug administration (systemic secretogogues, saliva substitutes and bile secretion-stimulator, night guard, diet and habit modifications. Other managements may be indicated to treat adverse effects.Conclusion: Neuropathic etiology, saliva composition change, smaller salivary gland size, and illnesses such as oral lichen planus can be suggestive causes for unknown-origin xerostomia. However, longitudinal studies will be important to elucidate the causes of unknown-origin xerostomia.

  2. On the Risk Management and Auditing of SOA Based Business Processes

    Science.gov (United States)

    Orriens, Bart; Heuvel, Willem-Jan V./D.; Papazoglou, Mike

    SOA-enabled business processes stretch across many cooperating and coordinated systems, possibly crossing organizational boundaries, and technologies like XML and Web services are used for making system-to-system interactions commonplace. Business processes form the foundation for all organizations, and as such, are impacted by industry regulations. This requires organizations to review their business processes and ensure that they meet the compliance standards set forth in legislation. In this paper we sketch a SOA-based service risk management and auditing methodology including a compliance enforcement and verification system that assures verifiable business process compliance. This is done on the basis of a knowledge-based system that allows integration of internal control systems into business processes conform pre-defined compliance rules, monitor both the normal process behavior and those of the control systems during process execution, and log these behaviors to facilitate retrospective auditing.

  3. Rethinking the Risk Management Process for Genetically Engineered Crop Varieties in Small-scale, Traditionally Based Agriculture

    Directory of Open Access Journals (Sweden)

    David A. Cleveland

    2005-06-01

    Full Text Available Proponents of genetically engineered (GE crops often assume that the risk management used in the industrial world is appropriate for small-scale, traditionally based agriculture in the Third World. Opponents of GE crops often assume that risk management is inappropriate for the Third World, because it is inherently biased in favor of the industrial world. We examine both of these assumptions, by rethinking risk management for GE crops and transgenes, using the example of maize transgene flow from the U.S. to Mexico. Risk management for the Third World is a necessary first step of a broader benefit-cost analysis of GE crops, which would include comparisons with existing varieties and with alternative varieties such as transgenic farmer varieties and organic varieties. Our goal is to use existing information on GE crops and on the social and biological characteristics of Third World agriculture to identify key processes that need to be considered in risk management, and the additional research required to adequately understand them. The four main steps in risk management are hazard identification, risk analysis (exposure x harm, risk evaluation, and risk treatment. We use informal event trees to identify possible exposure to GE crops and transgenes, and resulting biological and social harm; give examples of farmers' ability to evaluate social harm; and discuss the possibilities for risk treatment. We conclude that risk management is relevant for Third World agriculture, but needs to be based on the unique biological and social characteristics of small-scale, traditionally based agriculture, including the knowledge and values of Third World farmers and consumers.

  4. National Drought Policy: Shifting the Paradigm from Crisis to Risk-based Management

    Science.gov (United States)

    Wilhite, D. A.; Sivakumar, M. K.; Stefanski, R.

    2011-12-01

    Drought is a normal part of climate for virtually all of the world's climatic regimes. To better address the risks associated with this hazard and societal vulnerability, there must be a dramatic paradigm shift in our approach to drought management in the coming decade in the light of the increasing frequency of droughts and projections of increased severity and duration of these events in the future for many regions, especially in the developing world. Addressing this challenge will require an improved awareness of drought as a natural hazard, the establishment of integrated drought monitoring and early warning systems, a higher level of preparedness that fully incorporates risk-based management, and the adoption of national drought policies that are directed at increasing the coping capacity and resilience of populations to future drought episodes. The World Meteorological Organization (WMO), in partnership with other United Nations' agencies, the National Drought Mitigation Center at the University of Nebraska, NOAA, the U.S. Department of Agriculture, and other partners, is currently launching a program to organize a High Level Meeting on National Drought Policy (HMNDP) in March 2013 to encourage the development of national drought policies through the development of a compendium of key policy elements. The key objectives of a national drought policy are to: (1) encourage vulnerable economic sectors and population groups to adopt self-reliant measures that promote risk management; (2) promote sustainable use of the agricultural and natural resource base; and (3) facilitate early recovery from drought through actions consistent with national drought policy objectives. The key elements of a drought policy framework are policy and governance, including political will; addressing risk and improving early warnings, including vulnerability analysis, impact assessment, and communication; mitigation and preparedness, including the application of effective and

  5. Mindfulness-Based Interventions for Weight Loss and CVD Risk Management

    Science.gov (United States)

    Fulwiler, Carl; Brewer, Judson A.; Sinnott, Sinead; Loucks, Eric B.

    2017-01-01

    Obesity affects more than one-third of U.S. adults and is a major cause of preventable morbidity and mortality, primarily from cardiovascular disease. Traditional behavioral interventions for weight loss typically focus on diet and exercise habits and often give little attention to the role of stress and emotions in the initiation and maintenance of unhealthy behaviors, which may account for their modest results and considerable variability in outcomes. Stress eating and emotional eating are increasingly recognized as important targets of weight loss interventions. Mindfulness-based interventions were specifically developed to promote greater self-efficacy in coping with stress and negative emotions, and appear to be effective for a variety of conditions. In recent years researchers have begun to study mindfulness interventions for weight loss and CVD risk management. This review describes the rationale for the use of mindfulness in interventions for weight loss and CVD risk management, summarizes the research to date, and suggests priorities for future research. PMID:28405260

  6. Environmental asset management: Risk management systems

    CSIR Research Space (South Africa)

    Naudé, Brian

    2017-07-01

    Full Text Available purposes until the assets are exhausted. This paper addresses elements of environmental crime and the risk management strategies as part of EAP, including risk management system functions. A unique implemented risk management system in the Kruger National...

  7. Risk Management and Simulation

    DEFF Research Database (Denmark)

    Skovmand, David

    2014-01-01

    Review of: Risk Management and Simulation / Aparna Gupta. Boca Raton, FL: CRC Press, 2013, xxix + 491 pp., $99.95(H), ISBN: 978-1-4398-3594-4.......Review of: Risk Management and Simulation / Aparna Gupta. Boca Raton, FL: CRC Press, 2013, xxix + 491 pp., $99.95(H), ISBN: 978-1-4398-3594-4....

  8. Perspectives: Intellectual Risk Management

    Science.gov (United States)

    Hall, James C.

    2013-01-01

    Ask a college administrator about students and risk management, and you're likely to get a quick and agitated speech about alcohol consumption and bad behavior or a meditation on mental health and campus safety. But in colleges and universities, we manage intellectual risk-taking too. Bring that up, and you'll probably get little out of that same…

  9. CONDITIONS OF SUSTAINABILITY OF INVESTMENT BUILDING PROJECTS BASED ON THE RISK MANAGEMENT CONCEPT

    Directory of Open Access Journals (Sweden)

    Morozenko Andrey Aleksandrovich

    2012-10-01

    minimization of risky situations requires reduction of the project implementation period; development of domestic methodologies and standards of project risk management tailored to the conditions of our construction industry is a relevant assignment.

  10. Agricultural risk management

    DEFF Research Database (Denmark)

    Lund, Mogens; Oksen, Arne; Larsen, Torben U.

    2005-01-01

    A new model for risk management in agriculture is described in the paper. The risk model is constructed as a context dependent process, which includes four main phases. The model is aimed at agricultural advisors, who wish to facilitate and disseminate risk management to farmers. It is developed...... and tested by an action research approach in an attempt to make risk management more applicable on family farms. Our obtained experiences indicate that farmers don’t apply probabilistic thinking and other concepts according to formal decision theory....

  11. Manual to proposed Dutch implementation of OSPAR's risk-based approach to the management of produced water discharges

    NARCIS (Netherlands)

    Vries, de P.; Tamis, J.E.

    2014-01-01

    This manual is intended to assist operators on the Dutch Continental Shelf in the application of the Dutch implementation of the risk-based approach (RBA). In essence all oil and gas platforms on the Dutch Continental Shelf (DCS) have to go through the risk management cycle at least once, where the

  12. The role local initiatives in community based disaster risk management in Kemijen, Semarang City

    Science.gov (United States)

    Fauzie, W. Z.; Sariffudin, S.

    2017-06-01

    Community-based disaster risk reduction is one of the homegrown initiatives efforts and community empowerment oriented in disaster management. This approach is very important because no one can understand the conditions in a region better than the local communities. Therefore, the implementation of CBDRM always emphasize local initiatives in decision making. The existence of local initiative is necessary specially to anticipate the impact of climate change which is increasingly affecting towns in coastal areas, including settlements in Semarang. Kemijen Urban Village is one of the informal settlements in Semarang, which has the highest intensity of flood that is 12 times during 5 years (2011-2015). The research question is how the level of local initiatives in flood disaster management in Kemijen, Semarang? This study aims to assess the level of local initiatives in Kemijen as the community adaptive capacity of flood prevention in pre-disaster, emergency response, and post-disaster. Local initiatives assessed on water supply, sanitation, food, shelter, health, drainage maintenance and waste management. This study shows the level of local initiatives in pre-disaster and post-disaster is almost same and bigger than the response phase. Scoring results showed that pre-disaster is 35.002, 27.9577 for emergency response, and post-disaster is 34.9862 with each category that is independent, empowered, and independent. This study also shows that local initiatives in Kemijen largely formed by individual initiative and only a few were formed by a collective initiative.

  13. Individual Property Risk Management

    Directory of Open Access Journals (Sweden)

    Michael S. Finke

    2010-01-01

    Full Text Available This paper reviews household property risk management and estimates normatively optimal choice under theoretical assumptions. Although risk retention limits are common in the financial planning industry, estimates of optimal risk retention that include both financial and human wealth far exceed limits commonly recommended. Households appear to frame property losses differently from other wealth losses leading to wealth-reducing, excess risk transfer. Possible theoretical explanations for excess sensitivity to loss are reviewed. Differences between observed and optimal risk management imply a large potential gain from improved choice.

  14. Risk-based decision making to manage water quality failures caused by combined sewer overflows

    Science.gov (United States)

    Sriwastava, A. K.; Torres-Matallana, J. A.; Tait, S.; Schellart, A.

    2017-12-01

    Regulatory authorities set certain environmental permit for water utilities such that the combined sewer overflows (CSO) managed by these companies conform to the regulations. These utility companies face the risk of paying penalty or negative publicity in case they breach the environmental permit. These risks can be addressed by designing appropriate solutions such as investing in additional infrastructure which improve the system capacity and reduce the impact of CSO spills. The performance of these solutions is often estimated using urban drainage models. Hence, any uncertainty in these models can have a significant effect on the decision making process. This study outlines a risk-based decision making approach to address water quality failure caused by CSO spills. A calibrated lumped urban drainage model is used to simulate CSO spill quality in Haute-Sûre catchment in Luxembourg. Uncertainty in rainfall and model parameters is propagated through Monte Carlo simulations to quantify uncertainty in the concentration of ammonia in the CSO spill. A combination of decision alternatives such as the construction of a storage tank at the CSO and the reduction in the flow contribution of catchment surfaces are selected as planning measures to avoid the water quality failure. Failure is defined as exceedance of a concentration-duration based threshold based on Austrian emission standards for ammonia (De Toffol, 2006) with a certain frequency. For each decision alternative, uncertainty quantification results into a probability distribution of the number of annual CSO spill events which exceed the threshold. For each alternative, a buffered failure probability as defined in Rockafellar & Royset (2010), is estimated. Buffered failure probability (pbf) is a conservative estimate of failure probability (pf), however, unlike failure probability, it includes information about the upper tail of the distribution. A pareto-optimal set of solutions is obtained by performing mean

  15. Risk management of PPP project in the preparation stage based on Fault Tree Analysis

    Science.gov (United States)

    Xing, Yuanzhi; Guan, Qiuling

    2017-03-01

    The risk management of PPP(Public Private Partnership) project can improve the level of risk control between government departments and private investors, so as to make more beneficial decisions, reduce investment losses and achieve mutual benefit as well. Therefore, this paper takes the PPP project preparation stage venture as the research object to identify and confirm four types of risks. At the same time, fault tree analysis(FTA) is used to evaluate the risk factors that belong to different parts, and quantify the influencing degree of risk impact on the basis of risk identification. In addition, it determines the importance order of risk factors by calculating unit structure importance on PPP project preparation stage. The result shows that accuracy of government decision-making, rationality of private investors funds allocation and instability of market returns are the main factors to generate the shared risk on the project.

  16. A risk-based approach to sanitary sewer pipe asset management.

    Science.gov (United States)

    Baah, Kelly; Dubey, Brajesh; Harvey, Richard; McBean, Edward

    2015-02-01

    Wastewater collection systems are an important component of proper management of wastewater to prevent environmental and human health implications from mismanagement of anthropogenic waste. Due to aging and inadequate asset management practices, the wastewater collection assets of many cities around the globe are in a state of rapid decline and in need of urgent attention. Risk management is a tool which can help prioritize resources to better manage and rehabilitate wastewater collection systems. In this study, a risk matrix and a weighted sum multi-criteria decision-matrix are used to assess the consequence and risk of sewer pipe failure for a mid-sized city, using ArcGIS. The methodology shows that six percent of the uninspected sewer pipe assets of the case study have a high consequence of failure while four percent of the assets have a high risk of failure and hence provide priorities for inspection. A map incorporating risk of sewer pipe failure and consequence is developed to facilitate future planning, rehabilitation and maintenance programs. The consequence of failure assessment also includes a novel failure impact factor which captures the effect of structurally defective stormwater pipes on the failure assessment. The methodology recommended in this study can serve as a basis for future planning and decision making and has the potential to be universally applied by municipal sewer pipe asset managers globally to effectively manage the sanitary sewer pipe infrastructure within their jurisdiction. Copyright © 2014 Elsevier B.V. All rights reserved.

  17. Simulated Annealing Genetic Algorithm Based Schedule Risk Management of IT Outsourcing Project

    Directory of Open Access Journals (Sweden)

    Fuqiang Lu

    2017-01-01

    Full Text Available IT outsourcing is an effective way to enhance the core competitiveness for many enterprises. But the schedule risk of IT outsourcing project may cause enormous economic loss to enterprise. In this paper, the Distributed Decision Making (DDM theory and the principal-agent theory are used to build a model for schedule risk management of IT outsourcing project. In addition, a hybrid algorithm combining simulated annealing (SA and genetic algorithm (GA is designed, namely, simulated annealing genetic algorithm (SAGA. The effect of the proposed model on the schedule risk management problem is analyzed in the simulation experiment. Meanwhile, the simulation results of the three algorithms GA, SA, and SAGA show that SAGA is the most superior one to the other two algorithms in terms of stability and convergence. Consequently, this paper provides the scientific quantitative proposal for the decision maker who needs to manage the schedule risk of IT outsourcing project.

  18. [Risk Assessment and Risk Management of Chemicals in China].

    Science.gov (United States)

    Wang, Tie-yu; Zhou, Yun-qiao; Li, Qi-feng; Lü, Yong-long

    2016-02-15

    Risk assessment and risk management have been increasingly approved as an effective approach for appropriate disposal and scientific management of chemicals. This study systematically analyzed the risk assessment methods of chemicals from three aspects including health risk, ecological risk and regional risk. Based on the current situation of classification and management towards chemicals in China, a specific framework of risk management on chemicals was proposed by selecting target chemicals, predominant industries and related stakeholders as the objects. The results of the present study will provide scientific support for improving risk assessment and reasonable management of chemicals in China.

  19. Research on Investment Risk Management of Chinese Prefabricated Construction Projects Based on a System Dynamics Model

    Directory of Open Access Journals (Sweden)

    Ming Li

    2017-09-01

    Full Text Available Prefabricated construction, a new direction for the future development of the Chinese construction industry, can maximize the requirements of “green”. As a new form of green building, prefabricated construction is of particular interest. On account of the immature development of the green building market in China, the investment risk for prefabricated construction is higher than for traditional architecture. Hence, it is especially important to improve its investment risk identification and management. This study adopts system dynamics and builds a risk identification feedback chart and risk flow chart, to comprehensively identify investment risks that projects in China may face and to process quantitative estimation of investment risk factors. Key factors influencing project investment risks are found, and corresponding measures are pointedly proposed. This paper may provide guidance and a reference for promoting the sound development of prefabricated construction in China.

  20. HACCP-based quality risk management approach to udder health problems on dairy farms.

    Science.gov (United States)

    Noordhuizen, Jptm; Cannas da Silva, J

    2009-04-01

    Against the background of prevailing udder health problems on dairy farms, this paper discusses a new approach to mastitis control. Current udder health control programmes, such as the 'five-point plan', are highlighted and their drawbacks indicated. The concept and principles of hazard analysis critical control points (HACCP) are introduced. The eight core elements of this concept are dealt with by using the example of a dairy herd with a mastitis problem due to Staphylococcus aureus. The various steps to be taken in the development of a HACCP-based quality risk management programme are illustrated through the application of core elements. Finally, it is shown that the HACCP key words, structure, organisation, planning, communication and formalisation; which do not frequently appear in conventional herd health and production management programmes can contribute to better udder health. The role of the veterinarian can be paramount and of added value, if he/she is willing to invest in new knowledge and skills, such as the HACCP concept, farm economics, animal nutrition, and particularly the role of coach to the dairy farmer in the implementation of preventative measures in relation to udder health.

  1. HACCP-based quality risk management approach to udder health problems on dairy farms

    Directory of Open Access Journals (Sweden)

    Noordhuizen JPTM

    2009-04-01

    Full Text Available Abstract Against the background of prevailing udder health problems on dairy farms, this paper discusses a new approach to mastitis control. Current udder health control programmes, such as the 'five-point plan', are highlighted and their drawbacks indicated. The concept and principles of hazard analysis critical control points (HACCP are introduced. The eight core elements of this concept are dealt with by using the example of a dairy herd with a mastitis problem due to Staphylococcus aureus. The various steps to be taken in the development of a HACCP-based quality risk management programme are illustrated through the application of core elements. Finally, it is shown that the HACCP key words, structure, organisation, planning, communication and formalisation; which do not frequently appear in conventional herd health and production management programmes can contribute to better udder health. The role of the veterinarian can be paramount and of added value, if he/she is willing to invest in new knowledge and skills, such as the HACCP concept, farm economics, animal nutrition, and particularly the role of coach to the dairy farmer in the implementation of preventative measures in relation to udder health.

  2. Emerging contaminants in the environment: Risk-based analysis for better management.

    Science.gov (United States)

    Naidu, Ravi; Arias Espana, Victor Andres; Liu, Yanju; Jit, Joytishna

    2016-07-01

    Emerging contaminants (ECs) are chemicals of a synthetic origin or deriving from a natural source that has recently been discovered and for which environmental or public health risks are yet to be established. This is due to limited available information on their interaction and toxicological impacts on receptors. Several types of ECs exist such as antibiotics, pesticides, pharmaceuticals, personal care products, effluents, certain naturally occurring contaminants and more recently nanomaterials. ECs may derive from a known source, for example released directly to the aquatic environment from direct discharges such as those from wastewater treatment plants. Although in most instances the direct source cannot be identified, ECs have been detected in virtually every country's natural environment and as a consequence they represent a global problem. There is very limited information on the fate and transport of ECs in the environment and their toxicological impact. This lack of information can be attributed to limited financial resources and the lack of analytical techniques for detecting their effects on ecosystems and human health on their own or as mixture. We do not know how ECs interact with each other or various contaminants. This paper presents an overview of existing knowledge on ECs, their fate and transport and a risk-based analysis for ECs management and complementary strategies. Copyright © 2016 Elsevier Ltd. All rights reserved.

  3. Developing a risk-based trading scheme for cattle in England: farmer perspectives on managing trading risk for bovine tuberculosis.

    Science.gov (United States)

    Little, R; Wheeler, K; Edge, S

    2017-02-11

    This paper examines farmer attitudes towards the development of a voluntary risk-based trading scheme for cattle in England as a risk mitigation measure for bovine tuberculosis (bTB). The research reported here was commissioned to gather evidence on the type of scheme that would have a good chance of success in improving the information farmers receive about the bTB risk of cattle they buy. Telephone interviews were conducted with a stratified random sample of 203 cattle farmers in England, splitting the interviews equally between respondents in the high-risk area and low-risk area for bTB. Supplementary interviews and focus groups with farmers were also carried out across the risk areas. Results suggest a greater enthusiasm for a risk-based trading scheme in low-risk areas compared with high-risk areas and among members of breed societies and cattle health schemes. Third-party certification of herds by private vets or the Animal and Plant Health Agency were regarded as the most credible source, with farmer self-certification being favoured by sellers, but being regarded as least credible by buyers. Understanding farmers' attitudes towards voluntary risk-based trading is important to gauge likely uptake, understand preferences for information provision and to assist in monitoring, evaluating and refining the scheme once established. British Veterinary Association.

  4. Risk Management Plan Rule

    Science.gov (United States)

    RMP implements Section 112(r) of the 1990 Clean Air Act amendments, and requires facilities that use extremely hazardous substances to develop a Risk Management Plan and revise/resubmit every five years. Find guidance, factsheets, training, and assistance.

  5. PSA requirements for use in the safety management. Risk based indicators and the configurational control

    International Nuclear Information System (INIS)

    Szikszai, T.

    1994-01-01

    The purpose of this document is to show the role of the risk based indicators- namely the core damage frequency (CDFI), the core damage probability indicators (CDPI) and the importance of the equipment together- in the risk based configuration control. 1 fig

  6. Programmatic risk management system

    Energy Technology Data Exchange (ETDEWEB)

    Mahn, J. [Sandia National Labs., Albuquerque, NM (United States); Wood, C.L. [Automated Solutions of Albuquerque, NM (United States)

    1996-07-01

    The purpose of the Programmatic Risk Management System (PRMS) is to evaluate and manage potential risks associated with proposed projects (i.e., new products or processes, or possible research and technological development projects). Although the PRMS considers some technical aspects of risk, the primary focus of the methodology is programmatic risk. That is, the methodology permits an assessment of risks associated with such issues as the ability to successfully produce a product that performs in accordance with all customer requirements, and the availability and allocation of resources (money, equipment, facilities, skilled personnel). The PRMS process consists of five formalized activities that are essential for effective management of risks associated with proposed projects. These activities include risk assessment, development of appropriate risk mitigation strategies, estimating strategy implementation cost, ranking of risk mitigation strategies for resource allocation, and scheduling of strategy implementing. The PRMS utilizes a ranking system that allows the user to identify the most cost-effective investment of resources of minimizing risk.

  7. Pediatric Dental Care: Prevention and Management Protocols Based on Caries Risk Assessment

    OpenAIRE

    RAMOS-GOMEZ, FRANCISCO J.; CRYSTAL, YASMI O.; NG, MAN WAI; CRALL, JAMES J.; FEATHERSTONE, JOHN D.B.

    2010-01-01

    Recent increases in caries prevalence in young children, especially among minorities and the economically disadvantaged, highlight the need for early establishment of dental homes and simple, effective infant oral care preventive programs for all children as part of a medical disease prevention management model.1–3 This article presents an updated approach and practical tools for pediatric dental caries management by risk assessment, CAMBRA, in an effort to stimulate greater adoption of infan...

  8. Sunway Medical Laboratory Quality Control Plans Based on Six Sigma, Risk Management and Uncertainty.

    Science.gov (United States)

    Jairaman, Jamuna; Sakiman, Zarinah; Li, Lee Suan

    2017-03-01

    Sunway Medical Centre (SunMed) implemented Six Sigma, measurement uncertainty, and risk management after the CLSI EP23 Individualized Quality Control Plan approach. Despite the differences in all three approaches, each implementation was beneficial to the laboratory, and none was in conflict with another approach. A synthesis of these approaches, built on a solid foundation of quality control planning, can help build a strong quality management system for the entire laboratory. Copyright © 2016 Elsevier Inc. All rights reserved.

  9. Risk-based water resources planning: Coupling water allocation and water quality management under extreme droughts

    Science.gov (United States)

    Mortazavi-Naeini, M.; Bussi, G.; Hall, J. W.; Whitehead, P. G.

    2016-12-01

    The main aim of water companies is to have a reliable and safe water supply system. To fulfil their duty the water companies have to consider both water quality and quantity issues and challenges. Climate change and population growth will have an impact on water resources both in terms of available water and river water quality. Traditionally, a distinct separation between water quality and abstraction has existed. However, water quality can be a bottleneck in a system since water treatment works can only treat water if it meets certain standards. For instance, high turbidity and large phytoplankton content can increase sharply the cost of treatment or even make river water unfit for human consumption purposes. It is vital for water companies to be able to characterise the quantity and quality of water under extreme weather events and to consider the occurrence of eventual periods when water abstraction has to cease due to water quality constraints. This will give them opportunity to decide on water resource planning and potential changes to reduce the system failure risk. We present a risk-based approach for incorporating extreme events, based on future climate change scenarios from a large ensemble of climate model realisations, into integrated water resources model through combined use of water allocation (WATHNET) and water quality (INCA) models. The annual frequency of imposed restrictions on demand is considered as measure of reliability. We tested our approach on Thames region, in the UK, with 100 extreme events. The results show increase in frequency of imposed restrictions when water quality constraints were considered. This indicates importance of considering water quality issues in drought management plans.

  10. [Ecological risk assessment and its management of Bailongjiang watershed, southern Gansu based on landscape pattern].

    Science.gov (United States)

    Gong, Jie; Zhao, Cai-Xia; Xie, Yu-Chu; Gao, Yan-Jing

    2014-07-01

    Watershed ecological risk assessment is an important research subject of watershed ecological protection and environmental management. Research on the ecological risk focuses on addressing the influence of human activities and its spatial variation at watershed scale is vital to policy-making to control the impact of human activity and protocols for sustainable economic and societal development. A comprehensive ecological environment index, incorporating a landscape index and an assessment of ecological vulnerability, was put forward to assess the spatio-temporal characteristics of ecological risk of the Bailongjiang watershed, southern Gansu Province, Northwest China. Using ArcGIS and Fragstats software and a land use map of 2010, an ecological risk map was obtained through spatial sampling and disjunctive Kriging interpolation. The results indicated that there were some obvious spatial differences of ecological risk levels in the watershed. The ecological risk level of the north and northwest of the Bailongjiang was higher than that of the western and southern extremities of the watershed. Ecological risk index (ERI) of Wudu and Tanchang was higher than that of Wenxian and Diebu. Some measures for ecological risk management were put forward on the basis of ERI of Bailongjiang watershed. To strengthen the integrated management of human activities and land use in the watershed, to carry out the vegetation restoration and ecological reconstruction, and to reduce the ecological risks and hazards of irrational human disturbance, are vital to the realization 'multiple-win' of the economic, social and ecological protection and for the sustainable development in the hilly area in southern Gansu.

  11. Community-Based Disaster Risk Management in the Philippines: Achievements and Challenges of the Purok System

    Directory of Open Access Journals (Sweden)

    Angelina Matthies

    2017-06-01

    Full Text Available The purok system in the Philippines is promoted as a voluntary self-organization at the sub-village level which strengthens community resilience to natural hazards. In 2011, the system received the UN Sasakawa Award and gained prominence among the practitioner community. Based on a qualitative study in the municipality of San Francisco (Cebu province from December 2014 to March 2015, the article elaborates on the achievements and challenges of the purok system. Striking merits encompass efficient and effective information dissemination and evacuation measurements between all levels of political administration that stem from the system’s remarkable enforcement of human and social capital. This is underpinned by a clear determination of roles and responsibility that is subsumed under the concept of accountability. However, the purok system faces internal challenges of maintenance and implies profound conceptual ambiguities regarding the notion of voluntarism and capabilities that favor clientelism. Nevertheless, the purok system clearly distinguishes itself from conventional community-based disaster risk management practices and implies potentials that are highly beneficial for strengthening resilience in disaster prone areas.

  12. Risk-based configuration control

    International Nuclear Information System (INIS)

    Szikszai, T.

    1997-01-01

    The presentation discusses the following issues: The Configuration Control; The Risk-based Configuration Control (during power operation mode, and during shutdown mode). PSA requirements. Use of Risk-based Configuration Control System. Configuration Management (basic elements, benefits, information requirements)

  13. An integrated breast cancer risk assessment and management model based on fuzzy cognitive maps.

    Science.gov (United States)

    Subramanian, Jayashree; Karmegam, Akila; Papageorgiou, Elpiniki; Papandrianos, Nikolaos; Vasukie, A

    2015-03-01

    There is a growing demand for women to be classified into different risk groups of developing breast cancer (BC). The focus of the reported work is on the development of an integrated risk prediction model using a two-level fuzzy cognitive map (FCM) model. The proposed model combines the results of the initial screening mammogram of the given woman with her demographic risk factors to predict the post-screening risk of developing BC. The level-1 FCM models the demographic risk profile. A nonlinear Hebbian learning algorithm is used to train this model and thus to help on predicting the BC risk grade based on demographic risk factors identified by domain experts. The risk grades estimated by the proposed model are validated using two standard BC risk assessment models viz. Gail and Tyrer-Cuzick. The level-2 FCM models the features of the screening mammogram concerning normal, benign and malignant cases. The data driven Hebbian learning algorithm (DDNHL) is used to train this model in order to predict the BC risk grade based on these mammographic image features. An overall risk grade is calculated by combining the outcomes of these two FCMs. The main limitation of the Gail model of underestimating the risk level of women with strong family history is overcome by the proposed model. IBIS is a hard computing tool based on the Tyrer-Cuzick model that is comprehensive enough in covering a wide range of demographic risk factors including family history, but it generates results in terms of numeric risk score based on predefined formulae. Thus the outcome is difficult to interpret by naive users. Besides these models are based only on the demographic details and do not take into account the findings of the screening mammogram. The proposed integrated model overcomes the above described limitations of the existing models and predicts the risk level in terms of qualitative grades. The predictions of the proposed NHL-FCM model comply with the Tyrer-Cuzick model for 36 out of

  14. Risk management versus incentives

    International Nuclear Information System (INIS)

    Aven, E.; Lovas, K.; Osmundsen, P.

    2006-01-01

    Portfolio theory indicates that risk management should take place at the group level. Hedging at the project level or in the individual business areas may lead to suboptimal results. However, the efficiency of a profit centre depends on its management's being able to influence factors that are crucial to the unit's financial results. Price hedging could be one such factor. In the wider perspective, this constitutes part of the balancing between centralisation and decentralisation. This article covers important elements of risk management and incentive design. It goes on to discuss the balancing of overall risk management at the group level and incentive design in profit centres and corporate units. Throughout the article, the oil industry serves as a case. (author)

  15. Quantitative risk-based approach for improving water quality management in mining.

    Science.gov (United States)

    Liu, Wenying; Moran, Chris J; Vink, Sue

    2011-09-01

    The potential environmental threats posed by freshwater withdrawal and mine water discharge are some of the main drivers for the mining industry to improve water management. The use of multiple sources of water supply and introducing water reuse into the mine site water system have been part of the operating philosophies employed by the mining industry to realize these improvements. However, a barrier to implementation of such good water management practices is concomitant water quality variation and the resulting impacts on the efficiency of mineral separation processes, and an increased environmental consequence of noncompliant discharge events. There is an increasing appreciation that conservative water management practices, production efficiency, and environmental consequences are intimately linked through the site water system. It is therefore essential to consider water management decisions and their impacts as an integrated system as opposed to dealing with each impact separately. This paper proposes an approach that could assist mine sites to manage water quality issues in a systematic manner at the system level. This approach can quantitatively forecast the risk related with water quality and evaluate the effectiveness of management strategies in mitigating the risk by quantifying implications for production and hence economic viability.

  16. ENSO-Based Index Insurance: Approach and Peru Flood Risk Management Application

    Science.gov (United States)

    Khalil, A. F.; Kwon, H.; Lall, U.; Miranda, M. J.; Skees, J. R.

    2006-12-01

    Index insurance has recently been advocated as a useful risk transfer tool for disaster management situations where rapid fiscal relief is desirable, and where estimating insured losses may be difficult, time consuming, or subject to manipulation and falsification. For climate related hazards, a rainfall or temperature index may be proposed. However, rainfall may be highly spatially variable relative to the gauge network, and in many locations data are inadequate to develop an index due to short time-series and the spatial dispersion of stations. In such cases, it may be helpful to consider a climate proxy index as a regional rainfall index. This is particularly useful if a long record is available for the climate index through an independent source and it is well correlated with the regional rainfall hazard. Here, ENSO related climate indices are explored for use as a proxy to extreme rainfall in one of the departments of Peru -- Piura. The ENSO index insurance product may be purchased by banks or microfinance institutions (MFIs) to aid agricultural damage relief in Peru. Crop losses in the region are highly correlated with floods, but are difficult to assess directly. Beyond agriculture, many other sectors suffer as well. Basic infrastructure is destroyed during the most severe events. This disrupts trade for many micro-enterprises. The reliability and quality of the local rainfall data is variable. Averaging the financial risk across the region is desirable. Some issues with the implementation of the proxy ENSO index are identified and discussed. Specifically, we explore (a) the reliability of the index at different levels of probability of exceedance of maximum seasonal rainfall; (b) the potential for clustering of payoffs; (c) the potential that the index could be predicted with some lead time prior to the flood season; and (d) evidence for climate change or non-stationarity in the flood exceedance probability from the long ENSO record. Finally, prospects for

  17. Managing power risk

    International Nuclear Information System (INIS)

    Rudd, D.C.

    1999-01-01

    Issues regarding the management of financial risks in the electric power market were discussed. The nature of the risk was defined for electricity producers, local utilities, traders/dealers, and brokers, each of which are exposed to different types of risks with the exception of credit risk, which is common to all. The main features of options, swaps, CFDs, bilateral financial contracts, futures contracts and the terms of the NYMEX electricity contract were outlined. Basic derivative strategies, the role of the broker, the elements of emissions trading, and trading strategies for consumers were also explained. 3 fig

  18. Risk Management Practices: The Ghanaian Firms' Perspective ...

    African Journals Online (AJOL)

    1) understanding risk and risk management, (2) risk identification, (3) risk assessment and methods employed in managing risks (4) implementation of risk management methods, (5) risk monitoring and (6) future prospect of risk management.

  19. Web-Based Real Time Earthquake Forecasting and Personal Risk Management

    Science.gov (United States)

    Rundle, J. B.; Holliday, J. R.; Graves, W. R.; Turcotte, D. L.; Donnellan, A.

    2012-12-01

    Earthquake forecasts have been computed by a variety of countries and economies world-wide for over two decades. For the most part, forecasts have been computed for insurance, reinsurance and underwriters of catastrophe bonds. One example is the Working Group on California Earthquake Probabilities that has been responsible for the official California earthquake forecast since 1988. However, in a time of increasingly severe global financial constraints, we are now moving inexorably towards personal risk management, wherein mitigating risk is becoming the responsibility of individual members of the public. Under these circumstances, open access to a variety of web-based tools, utilities and information is a necessity. Here we describe a web-based system that has been operational since 2009 at www.openhazards.com and www.quakesim.org. Models for earthquake physics and forecasting require input data, along with model parameters. The models we consider are the Natural Time Weibull (NTW) model for regional earthquake forecasting, together with models for activation and quiescence. These models use small earthquakes ('seismicity-based models") to forecast the occurrence of large earthquakes, either through varying rates of small earthquake activity, or via an accumulation of this activity over time. These approaches use data-mining algorithms combined with the ANSS earthquake catalog. The basic idea is to compute large earthquake probabilities using the number of small earthquakes that have occurred in a region since the last large earthquake. Each of these approaches has computational challenges associated with computing forecast information in real time. Using 25 years of data from the ANSS California-Nevada catalog of earthquakes, we show that real-time forecasting is possible at a grid scale of 0.1o. We have analyzed the performance of these models using Reliability/Attributes and standard Receiver Operating Characteristic (ROC) tests. We show how the Reliability and

  20. A strategic analysis study-based approach to integrated risk assessment: Occupational health risks from environmental restoration and waste management activities at Hanford

    Energy Technology Data Exchange (ETDEWEB)

    Mahaffey, J.A.; Doctor, P.G.; Buschbom, R.L.; Glantz, C.S.; Daling, P.M.; Sever, L.E.; Vargo, G.J. Jr.; Strachan, D.M. [Pacific Northwest Lab., Richland, WA (United States); Pajunen, A.L.; Hoyt, R.C.; Ludowise, J.D. [Westinghouse Hanford Co., Richland, WA (United States)

    1993-06-01

    The goal of environmental restoration and waste management activities is to reduce public health risks or to delay risks to the future when new technology will be available for improved cleanup solutions. Actions to remediate the wastes on the Hanford Site will entail risks to workers, the public, and the environment that do not currently exist. In some circumstances, remediation activities will create new exposure pathways that are not present without cleanup activities. In addition, cleanup actions will redistribute existing health risks over time and space, and will likely shift health risks to cleanup workers in the short term. This report describes an approach to occupational risk assessment based on the Hanford Strategic Analysis Study and illustrates the approach by comparing worker risks for two options for remediation of N/K fuels, a subcategory of unprocessed irradiated fuels at Hanford.

  1. Six Sigma Quality Management System and Design of Risk-based Statistical Quality Control.

    Science.gov (United States)

    Westgard, James O; Westgard, Sten A

    2017-03-01

    Six sigma concepts provide a quality management system (QMS) with many useful tools for managing quality in medical laboratories. This Six Sigma QMS is driven by the quality required for the intended use of a test. The most useful form for this quality requirement is the allowable total error. Calculation of a sigma-metric provides the best predictor of risk for an analytical examination process, as well as a design parameter for selecting the statistical quality control (SQC) procedure necessary to detect medically important errors. Simple point estimates of sigma at medical decision concentrations are sufficient for laboratory applications. Copyright © 2016 Elsevier Inc. All rights reserved.

  2. Pediatric Dental Care: Prevention and Management Protocols Based on Caries Risk Assessment

    Science.gov (United States)

    RAMOS-GOMEZ, FRANCISCO J.; CRYSTAL, YASMI O.; NG, MAN WAI; CRALL, JAMES J.; FEATHERSTONE, JOHN D.B.

    2012-01-01

    Recent increases in caries prevalence in young children, especially among minorities and the economically disadvantaged, highlight the need for early establishment of dental homes and simple, effective infant oral care preventive programs for all children as part of a medical disease prevention management model.1–3 This article presents an updated approach and practical tools for pediatric dental caries management by risk assessment, CAMBRA, in an effort to stimulate greater adoption of infant oral care programs among clinicians and early establishment of dental homes for young children. PMID:21162350

  3. Children's Aquatics: Managing the Risk.

    Science.gov (United States)

    Langendorfer, Stephen; And Others

    1989-01-01

    This article identifies the major risks faced by young children in aquatic programs, outlines several methods for managing risk factors, and discusses the steps involved in implementing a risk-management system. (IAH)

  4. The Management Object in Risk Management Approaches

    DEFF Research Database (Denmark)

    Christiansen, Ulrik

    Using a systematic review of the last 55 years of research within risk management this paper explores how risk management as a management technology (methodologies, tools and frameworks to mitigate or manage risks) singles out risks as an object for management in order to make action possible....... The paper synthesise by developing a framework of how different views on risk management enable and constrain the knowledge about risk and thus frame the possibilities to measure, analyse and calculate uncertainty and risk. Inspired by social studies of finance and accounting, the paper finally develops...... three propositions that illustrate how the framing of risk establishes a boundary for how managers might understand value creation and the possible future and how this impacts the possible responses to risk....

  5. Risk management in customs control

    OpenAIRE

    Drobot, Elena; Klevleeva, Aziza

    2016-01-01

    The particularities of risk-management system implementation within customs control are discussed in the article. The authors single out the elements of risk-management system, evaluate effectiveness of risk-management in customs control. The main reasons for non-implementation of risk-management system in customs control are described, as well. Particular attention is paid to the benefits of customs risk management.

  6. "Risk management" is a verb.

    Science.gov (United States)

    Sheppard, Faye

    2018-01-01

    To optimally demonstrate the value of risk management, our actions must show the benefits. The American Society for Healthcare Risk Management (ASHRM) board needs to provide support through tools and resources. ASHRM members must show through their actions the value of risk management. And ASHRM members need to show the organization where actions and activities should be focused in the future. Actions show the value of enterprise risk management. © 2018 American Society for Healthcare Risk Management of the American Hospital Association.

  7. Assessing surface water flood risk and management strategies under future climate change: Insights from an Agent-Based Model.

    Science.gov (United States)

    Jenkins, K; Surminski, S; Hall, J; Crick, F

    2017-10-01

    Climate change and increasing urbanization are projected to result in an increase in surface water flooding and consequential damages in the future. In this paper, we present insights from a novel Agent Based Model (ABM), applied to a London case study of surface water flood risk, designed to assess the interplay between different adaptation options; how risk reduction could be achieved by homeowners and government; and the role of flood insurance and the new flood insurance pool, Flood Re, in the context of climate change. The analysis highlights that while combined investment in property-level flood protection and sustainable urban drainage systems reduce surface water flood risk, the benefits can be outweighed by continued development in high risk areas and the effects of climate change. In our simulations, Flood Re is beneficial in its function to provide affordable insurance, even under climate change. However, the scheme does face increasing financial pressure due to rising surface water flood damages. If the intended transition to risk-based pricing is to take place then a determined and coordinated strategy will be needed to manage flood risk, which utilises insurance incentives, limits new development, and supports resilience measures. Our modelling approach and findings are highly relevant for the ongoing regulatory and political approval process for Flood Re as well as for wider discussions on the potential of insurance schemes to incentivise flood risk management and climate adaptation in the UK and internationally. Copyright © 2017 Elsevier B.V. All rights reserved.

  8. Application of risk based inspection as a part of life management of nuclear power plants

    International Nuclear Information System (INIS)

    Vinod, Gopika; Babar, A.K.; Saraf, R.K.; Kushwaha, H.S.; Venkat Raj, V.

    2002-01-01

    Full text: Risk Informed approach is a systematic effort to improve plant safety in a more efficient manner by distributing the available safety resources depending on the importance to plant safety. This approach has found immense application in various aspects associated with Nuclear Power Plants, including design, manufacturing, operation and regulation. Typical applications of Risk Informed approach are in Technical Specification, In-Service Inspection (ISI) requirements, Motor Operated Valve testing, Configuration Control etc. In order to cater to such variety of Probabilistic Safety Assessment (PSA) based Risk Informed requirements, a software package, 'Risk Monitor' has been developed by the authors. An important application of Risk informed approach that has been undertaken for Indian Pressurised Heavy Water Reactor (IPHWR) is towards Risk Informed In-Service Inspection (RI-ISI). Studies are being conducted to evolve an inspection plan that is optimised to provide effective inspections at the right location with a proper inspection frequency. Using risk informed approach, the identification of system / component for inspection resource allocation is based on the results from Level 1 PSA of a NPP. Even though this methodology can be employed on any of the nuclear components/systems such as mechanical systems, instrumentation, etc., as a starting point, piping has been considered for employing Risk Informed Inspection. Plant risk assessment is modelled through the analysis of Core Damage Frequency (CDF) using PSA models. Risk Informed Inspection program of piping involves the estimation of failure probability or frequency of a piping segment and estimation of consequences of piping failures. ISI program changes could affect the failure probability values of piping and can introduce a change in CDF. These effects can be brought out through the implementation of Risk Informed inspection strategy. Various importance measures like Fussel-Vesely, Birnbaum

  9. Risk constraint measures developed for the outcome-based strategy for tank waste management

    Energy Technology Data Exchange (ETDEWEB)

    Harper, B.L.; Gajewski, S.J.; Glantz, C.L. [and others

    1996-09-01

    This report is one of a series of supporting documents for the outcome-based characterization strategy developed by PNNL. This report presents a set of proposed risk measures with risk constraint (acceptance) levels for use in the Value of Information process used in the NCS. The characterization strategy has developed a risk-based Value of Information (VOI) approach for comparing the cost-effectiveness of characterizing versus mitigating particular waste tanks or tank clusters. The preference between characterizing or mitigating in order to prevent an accident depends on the cost of those activities relative to the cost of the consequences of the accident. The consequences are defined as adverse impacts measured across a broad set of risk categories such as worker dose, public cancers, ecological harm, and sociocultural impacts. Within each risk measure, various {open_quotes}constraint levels{close_quotes} have been identified that reflect regulatory standards or conventionally negotiated thresholds of harm to Hanford resources and values. The cost of consequences includes the {open_quotes}costs{close_quote} of exceeding those constraint levels as well as a strictly linear costing per unit of impact within each of the risk measures. In actual application, VOI based-decision making is an iterative process, with a preliminary low-precision screen of potential technical options against the major risk constraints, followed by VOI analysis to determine the cost-effectiveness of gathering additional information and to select a preferred technical option, and finally a posterior screen to determine whether the preferred option meets all relevant risk constraints and acceptability criteria.

  10. Risk constraint measures developed for the outcome-based strategy for tank waste management

    International Nuclear Information System (INIS)

    Harper, B.L.; Gajewski, S.J.; Glantz, C.L.

    1996-09-01

    This report is one of a series of supporting documents for the outcome-based characterization strategy developed by PNNL. This report presents a set of proposed risk measures with risk constraint (acceptance) levels for use in the Value of Information process used in the NCS. The characterization strategy has developed a risk-based Value of Information (VOI) approach for comparing the cost-effectiveness of characterizing versus mitigating particular waste tanks or tank clusters. The preference between characterizing or mitigating in order to prevent an accident depends on the cost of those activities relative to the cost of the consequences of the accident. The consequences are defined as adverse impacts measured across a broad set of risk categories such as worker dose, public cancers, ecological harm, and sociocultural impacts. Within each risk measure, various open-quotes constraint levelsclose quotes have been identified that reflect regulatory standards or conventionally negotiated thresholds of harm to Hanford resources and values. The cost of consequences includes the open-quotes costs close-quote of exceeding those constraint levels as well as a strictly linear costing per unit of impact within each of the risk measures. In actual application, VOI based-decision making is an iterative process, with a preliminary low-precision screen of potential technical options against the major risk constraints, followed by VOI analysis to determine the cost-effectiveness of gathering additional information and to select a preferred technical option, and finally a posterior screen to determine whether the preferred option meets all relevant risk constraints and acceptability criteria

  11. Application of risk-based multiple criteria decision analysis for selection of the best agricultural scenario for effective watershed management.

    Science.gov (United States)

    Javidi Sabbaghian, Reza; Zarghami, Mahdi; Nejadhashemi, A Pouyan; Sharifi, Mohammad Bagher; Herman, Matthew R; Daneshvar, Fariborz

    2016-03-01

    Effective watershed management requires the evaluation of agricultural best management practice (BMP) scenarios which carefully consider the relevant environmental, economic, and social criteria involved. In the Multiple Criteria Decision-Making (MCDM) process, scenarios are first evaluated and then ranked to determine the most desirable outcome for the particular watershed. The main challenge of this process is the accurate identification of the best solution for the watershed in question, despite the various risk attitudes presented by the associated decision-makers (DMs). This paper introduces a novel approach for implementation of the MCDM process based on a comparative neutral risk/risk-based decision analysis, which results in the selection of the most desirable scenario for use in the entire watershed. At the sub-basin level, each scenario includes multiple BMPs with scores that have been calculated using the criteria derived from two cases of neutral risk and risk-based decision-making. The simple additive weighting (SAW) operator is applied for use in neutral risk decision-making, while the ordered weighted averaging (OWA) and induced OWA (IOWA) operators are effective for risk-based decision-making. At the watershed level, the BMP scores of the sub-basins are aggregated to calculate each scenarios' combined goodness measurements; the most desirable scenario for the entire watershed is then selected based on the combined goodness measurements. Our final results illustrate the type of operator and risk attitudes needed to satisfy the relevant criteria within the number of sub-basins, and how they ultimately affect the final ranking of the given scenarios. The methodology proposed here has been successfully applied to the Honeyoey Creek-Pine Creek watershed in Michigan, USA to evaluate various BMP scenarios and determine the best solution for both the stakeholders and the overall stream health. Copyright © 2015 Elsevier Ltd. All rights reserved.

  12. From flood protection to flood risk management: condition-based and performance-based regulations in German water law

    NARCIS (Netherlands)

    Hartmann, T.; Albrecht, J.

    2014-01-01

    In many European countries, a paradigm shift from technically oriented flood protection to a holistic approach of flood risk management is taking place. In Germany, this approach is currently being implemented after several amendments of the Federal Water Act. The paradigm shift is also reflected in

  13. Risk Management and Value Creation

    DEFF Research Database (Denmark)

    Andersen, Torben Juul; Roggi, Oliviero

    Corporate failures, periodic recessions, regional debt crises and volatile financial markets have intensified the focus on risk management as the means to deal with turbulent conditions. The ability to respond effectively to abrupt environmental impacts is considered an important source of compet......Corporate failures, periodic recessions, regional debt crises and volatile financial markets have intensified the focus on risk management as the means to deal with turbulent conditions. The ability to respond effectively to abrupt environmental impacts is considered an important source...... of competitive advantage. Yet, surprisingly little research has analyzed whether the presumed advantages of effective risk management are associated with superior outcomes. Here we present a comprehensive study of risk management effectiveness and the relationship to corporate performance based on more than 33......,500 observations in 3,400 firms over the turbulent 20-year period 1991-2010. Determining effective risk management as the ability to reduce earnings and cash flow volatility, we find that both have significant positive relationships to lagged performance measures after controlling for industry effects, company...

  14. [Strategies and key technologies for risk control and management in quality of Chinese medicine injections based on integrated pharmacology].

    Science.gov (United States)

    Zhao, Xiao-ping; Kang, Li-yuan; Tang, Ren-mao; Li, Zheng

    2014-12-01

    This paper focuses on the quality risk control and management of Chinese medicine (CM) injections. The most important technological requirements are analyzed, and a strategy for integrated pharmacology to study CM mechanism is proposed. A key technology system for quality risk control and management was further constructed. The strategy and technology system was finally applied to Shengmai injection for quality risk control and management.

  15. Targeting hunter distribution based on host resource selection and kill sites to manage disease risk

    DEFF Research Database (Denmark)

    Dugal, Cherie; van Beest, Floris; Vander Wal, Eric

    2013-01-01

    of these cohorts were positively associated with landscape- level forest cover and increasing distance to streams and negatively associated with high road density. Local-level forest was positively associated with collared animal locations and hunter-kill sites; however, selection was stronger for collared......Endemic and emerging diseases are rarely uniform in their spatial distribution or prevalence among cohorts of wildlife. Spatial models that quantify risk-driven differences in resource selection and hunter mortality of animals at fine spatial scales can assist disease management by identifying high......-risk areas and individuals. We used resource selection functions (RSFs) and selection ratios (SRs) to quantify sex- and age-specific resource selection patterns of collared (n = 67) and hunter-killed (n = 796) nonmigratory elk (Cervus canadensis manitobensis) during the hunting season between 2002 and 2012...

  16. Managing Operational Risk Related to Microfinance Lending Process using Fuzzy Inference System based on the FMEA Method: Moroccan Case Study

    Directory of Open Access Journals (Sweden)

    Alaoui Youssef Lamrani

    2017-12-01

    Full Text Available Managing operational risk efficiently is a critical factor of microfinance institutions (MFIs to get a financial and social return. The purpose of this paper is to identify, assess and prioritize the root causes of failure within the microfinance lending process (MLP especially in Moroccan microfinance institutions. Considering the limitation of traditional failure mode and effect analysis (FMEA method in assessing and classifying risks, the methodology adopted in this study focuses on developing a fuzzy logic inference system (FLIS based on (FMEA. This approach can take into account the subjectivity of risk indicators and the insufficiency of statistical data. The results show that the Moroccan MFIs need to focus more on customer relationship management and give more importance to their staff training, to clients screening as well as to their business analysis.

  17. Bicycle Commuting and Exposure to Air Pollution: A Questionnaire-Based Investigation of Perceptions, Symptoms, and Risk Management Strategies.

    Science.gov (United States)

    Cole-Hunter, Tom; Morawska, Lidia; Solomon, Colin

    2015-04-01

    An increase in bicycle commuting participation may improve public health and traffic congestion in cities. Information on air pollution exposure (such as perception, symptoms, and risk management) contributes to the responsible promotion of bicycle commuting participation. To determine perceptions, symptoms, and willingness for specific exposure risk management strategies of exposure to air pollution, a questionnaire-based cross-sectional investigation was conducted with adult bicycle commuters (n = 153; age = 41 ± 11 years; 28% female). Frequency of acute respiratory signs and symptoms were positively associated with in-commute and postcommute compared with precommute time periods (P pollution was positively associated with the estimated level of in-commute proximity to motorized traffic. The majority of participants indicated a willingness (which varied with health status and gender) to adopt risk management strategies (with desired features) if shown to be appropriate and effective. While acute signs and symptoms of air pollution exposure are indicated with bicycle commuting, and more so in susceptible individuals, there is willingness to manage exposure risk by adopting effective strategies with desired features.

  18. Nuclear risk management

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-07-01

    This paper gives the list of contributions to Eurosafe 2001 which was organised around two round tables on the first day and five seminars on the second day. The first round table dealt with the technical, organisational and societal aspects of risk management aimed at the prevention of accidents in nuclear power plants. The second round table focused on radiological risks from the normal operation of nuclear installations. Special consideration has been given to the involvement of stakeholders. The five seminars were held in order to provide opportunities for comparing experiences and learning about recent activities of IRSN, GRS and their partners in the European Union and Eastern Europe: - Safety assessment and analysis of nuclear installations; -Nuclear safety research; -Environment and radiation protection; - Waste management; - Nuclear material security. (author)

  19. Nuclear risk management

    International Nuclear Information System (INIS)

    2001-01-01

    This paper gives the list of contributions to Eurosafe 2001 which was organised around two round tables on the first day and five seminars on the second day. The first round table dealt with the technical, organisational and societal aspects of risk management aimed at the prevention of accidents in nuclear power plants. The second round table focused on radiological risks from the normal operation of nuclear installations. Special consideration has been given to the involvement of stakeholders. The five seminars were held in order to provide opportunities for comparing experiences and learning about recent activities of IRSN, GRS and their partners in the European Union and Eastern Europe: - Safety assessment and analysis of nuclear installations; -Nuclear safety research; -Environment and radiation protection; - Waste management; - Nuclear material security. (author)

  20. Credit risk management in banks

    OpenAIRE

    Pětníková, Tereza

    2014-01-01

    The subject of this diploma thesis is managing credit risk in banks, as the most significant risk faced by banks. The aim of this work is to define the basic techniques, tools and methods that are used by banks to manage credit risk. The first part of this work focuses on defining these procedures and describes the entire process of credit risk management, from the definition of credit risk, describing credit strategy and policy, organizational structure, defining the most used credit risk mi...

  1. The impact on work-related stress of mental health teams following team-based learning on clinical risk management.

    Science.gov (United States)

    Sharkey, S B; Sharples, A

    2003-02-01

    Risk management is viewed as a systematic process based on multiprofessional and multi-agency decision-making. A learning pack was developed as part of a team-based learning project aiming to encourage and develop collaborative working practice. This brought different professionals and agencies working in mental health together to learn. There is little doubt that mental health practice is a source of stress for practitioners. Apart from the stress associated with managing 'risky' situations, risk management is also a relatively new concept. This can increase stress around ability to cope, both on an individual practitioner level and in teams. This article reports the impact that the learning pack had on team members' stress, specifically work-related stress. A range of scales were used to measure change in stress and results demonstrated reduced work-related pressure in a number of areas following the learning. The implications for team learning in relation to clinical risk management are discussed in light of the findings.

  2. Managing Complex Environmental Risks

    International Nuclear Information System (INIS)

    Karlsson, Mikael

    2006-01-01

    Environmental and public health risks are often handled in a process in which experts, and sometimes policy makers, try their best to quantitatively assess, evaluate and manage risks. This approach harmonises with mainstream interpretations of sustainable development, which aim at defining a desirable relationship between human and natural systems, for instance by policies that define limit values of different forms of disturbances. However, under conditions of high scientific incertitude, diverging values and distrust, this approach is far from satisfactory. The use of cell phones, hazardous chemicals, nuclear or fossil energy systems, and modern biotechnology are examples of activities causing such risks with high complexity. Against this background, a complementary interpretation of the concept of sustainable development is suggested. This interpretation is operationalised through new formulations of three common principles for public risk management; the precautionary principle, the polluter pays principle and the principle of public participation. Implementation of these reformulated principles would challenge some foundations of present mainstream views on environmental decision-making, but would on the other hand contribute to improved practices for long-term human welfare and planetary survival (full text of contribution)

  3. Calibration of dentists for Caries Management by Risk Assessment Research in a Practice Based Research Network - CAMBRA PBRN

    OpenAIRE

    Rechmann, Peter; Jue, Bonnie; Santo, William; Rechmann, Beate M. T.; Featherstone, John D. B.

    2018-01-01

    Background To prove that Caries Management by Risk Assessment (CAMBRA) can be successfully implemented in dental practices outside of the university setting, dentists in the San Francisco Bay Area (CA) were approached to participate in a Practice Based Research Network (PBRN) study. The overall goal of the CAMBRA-PBRN study was to recruit 30 dentists to perform a two-year study involving approximately 900 patients. Goal of the calibration study was to standardize and calibrate dentists potent...

  4. The Management Object in Risk Management Approaches

    DEFF Research Database (Denmark)

    Christiansen, Ulrik

    . The paper synthesise by developing a framework of how different views on risk management enable and constrain the knowledge about risk and thus frame the possibilities to measure, analyse and calculate uncertainty and risk. Inspired by social studies of finance and accounting, the paper finally develops...... three propositions that illustrate how the framing of risk establishes a boundary for how managers might understand value creation and the possible future and how this impacts the possible responses to risk....

  5. Derailment-based Fault Tree Analysis on Risk Management of Railway Turnout Systems

    Science.gov (United States)

    Dindar, Serdar; Kaewunruen, Sakdirat; An, Min; Gigante-Barrera, Ángel

    2017-10-01

    Railway turnouts are fundamental mechanical infrastructures, which allow a rolling stock to divert one direction to another. As those are of a large number of engineering subsystems, e.g. track, signalling, earthworks, these particular sub-systems are expected to induce high potential through various kind of failure mechanisms. This could be a cause of any catastrophic event. A derailment, one of undesirable events in railway operation, often results, albeit rare occurs, in damaging to rolling stock, railway infrastructure and disrupt service, and has the potential to cause casualties and even loss of lives. As a result, it is quite significant that a well-designed risk analysis is performed to create awareness of hazards and to identify what parts of the systems may be at risk. This study will focus on all types of environment based failures as a result of numerous contributing factors noted officially as accident reports. This risk analysis is designed to help industry to minimise the occurrence of accidents at railway turnouts. The methodology of the study relies on accurate assessment of derailment likelihood, and is based on statistical multiple factors-integrated accident rate analysis. The study is prepared in the way of establishing product risks and faults, and showing the impact of potential process by Boolean algebra.

  6. Risk-Based Decision-Making and the Use of Operational Risk Management in Developing a Course of Action (COA) for the Joint Task Force (JTF)

    National Research Council Canada - National Science Library

    Faherty, Denis

    2003-01-01

    .... Operational Risk Management (ORM) is the process that assists the military commander in reducing or offsetting risk and helps him think through his options when faced with force employment and the requirement for risk control for mission success...

  7. Effective risk management SOGO life cycle management

    OpenAIRE

    Ali, Mohamed Omar

    2012-01-01

    Master's thesis in Industrial Economics After new or upgrade projects the offshore installation gets maintenance or support through the life cycle management organization at Siemens. Small to medium modification projects are executed by the life cycle management. Risk assessment on these projects show different risks when it comes to estimation and pricing of projects, planning and executing, resource management, competence and knowledge.

  8. Racial disparities in BRCA testing and cancer risk management across a population-based sample of young breast cancer survivors.

    Science.gov (United States)

    Cragun, Deborah; Weidner, Anne; Lewis, Courtney; Bonner, Devon; Kim, Jongphil; Vadaparampil, Susan T; Pal, Tuya

    2017-07-01

    Breast cancer (BC) disparities may widen with genomic advances. The authors compared non-Hispanic white (NHW), black, and Hispanic BC survivors for 1) cancer risk-management practices among BRCA carriers and 2) provider discussion and receipt of genetic testing. A population-based sample of NHW, black, and Hispanic women who had been diagnosed with invasive BC at age 50 years or younger from 2009 to 2012 were recruited through the state cancer registry. Multiple logistic regression was used to compare cancer risk-management practices in BRCA carriers and associations of demographic and clinical variables with provider discussion and receipt of testing. Of 1622 participants, 159 of 440 (36.1%) black women, 579 of 897 (64.5%) NHW women, 58 of 117 (49.6%) Spanish-speaking Hispanic women, and 116 of 168 (69%) English-speaking Hispanic women underwent BRCA testing, of whom 90 had a pathogenic BRCA mutation identified. Among BRCA carriers, the rates of risk-reducing mastectomy and risk-reducing salpingo-oophorectomy were significantly lower among black women compared with Hispanic and NHW women after controlling for clinical and demographic variables (P = .025 and P = .008, respectively). Compared with NHW women, discussion of genetic testing with a provider was 16 times less likely among black women (P BRCA carriers compared with their Hispanic and NHW counterparts, which is concerning because benefits from genetic testing arise from cancer risk-management practice options. Furthermore, lower BRCA testing rates among blacks may partially be because of a lower likelihood of provider discussion. Future studies are needed to improve cancer risk identification and management practices across all populations to prevent the widening of disparities. Cancer 2017;123:2497-05. © 2017 American Cancer Society. © 2017 American Cancer Society.

  9. Calysto: Risk Management for Commercial Manned Spaceflight

    Science.gov (United States)

    Dillaman, Gary

    2012-01-01

    The Calysto: Risk Management for Commercial Manned Spaceflight study analyzes risk management in large enterprises and how to effectively communicate risks across organizations. The Calysto Risk Management tool developed by NASA's Kennedy Space Center's SharePoint team is used and referenced throughout the study. Calysto is a web-base tool built on Microsoft's SharePoint platform. The risk management process at NASA is examined and incorporated in the study. Using risk management standards from industry and specific organizations at the Kennedy Space Center, three methods of communicating and elevating risk are examined. Each method describes details of the effectiveness and plausibility of using the method in the Calysto Risk Management Tool. At the end of the study suggestions are made for future renditions of Calysto.

  10. Smart Grid Risk Management

    Science.gov (United States)

    Abad Lopez, Carlos Adrian

    Current electricity infrastructure is being stressed from several directions -- high demand, unreliable supply, extreme weather conditions, accidents, among others. Infrastructure planners have, traditionally, focused on only the cost of the system; today, resilience and sustainability are increasingly becoming more important. In this dissertation, we develop computational tools for efficiently managing electricity resources to help create a more reliable and sustainable electrical grid. The tools we present in this work will help electric utilities coordinate demand to allow the smooth and large scale integration of renewable sources of energy into traditional grids, as well as provide infrastructure planners and operators in developing countries a framework for making informed planning and control decisions in the presence of uncertainty. Demand-side management is considered as the most viable solution for maintaining grid stability as generation from intermittent renewable sources increases. Demand-side management, particularly demand response (DR) programs that attempt to alter the energy consumption of customers either by using price-based incentives or up-front power interruption contracts, is more cost-effective and sustainable in addressing short-term supply-demand imbalances when compared with the alternative that involves increasing fossil fuel-based fast spinning reserves. An essential step in compensating participating customers and benchmarking the effectiveness of DR programs is to be able to independently detect the load reduction from observed meter data. Electric utilities implementing automated DR programs through direct load control switches are also interested in detecting the reduction in demand to efficiently pinpoint non-functioning devices to reduce maintenance costs. We develop sparse optimization methods for detecting a small change in the demand for electricity of a customer in response to a price change or signal from the utility

  11. CEA - 2014 risk management assessment

    International Nuclear Information System (INIS)

    Bonnevie, Edwige; Verwaerde, Daniel; Maillot, Bernard

    2015-06-01

    After introducing presentations of CEA managers in charge of risk management and controls, this document presents and comments the actions undertaken by the CEA and the obtained results in terms of risk management in different fields: protection and control of the environment, installation safety, health, safety and radiation protection, transport of hazardous materials, waste management, protection of sites, installations and heritage, management of emergency situations, management of legal risks, internal audits and controls. Other topics are addressed like the presentation of the risk management department, and the role of the CEA in the relationship between research and industry

  12. Risk management in dermatology: an analysis of data available from several British-based reporting systems.

    Science.gov (United States)

    Gawkrodger, D J

    2011-03-01

    The elimination or reduction of risk is a prime requirement of all healthcare workers. The matter has come to the fore in dermatological practice recently with the widespread use of effective drugs that have significant side-effects (e.g. retinoids, cytotoxic drugs, biologics), the increase in skin surgery, especially for skin cancer, and the extensive use of phototherapies. To examine the available database from different agencies to which adverse events may be reported over at least a 5-year time frame, categorize the risks, look forward to where as yet unidentified risks might exist, and draw conclusions to improve the safety of dermatological practice. This work came about through a request from the National Patient Safety Agency [to the Joint Specialty Committee of the British Association of Dermatologists (BAD) and Royal College of Physicians] for information on risks to patients receiving treatment or investigation for skin disease. Organizations in the U.K. that receive information about adverse events, whether caused by drugs or procedures in dermatological treatments, were approached for information about reported events over a 5-year (or, in one case, 10-year) time frame up to 2009. Data were received from the National Patient Safety Agency, the Medicines and Healthcare Products Regulatory Agency, the National Health Service Litigation Authority, the Medical Protection Society and the Medical Defence Union. In addition, the results of a survey conducted in 2010 by the BAD of its members concerning potential critical incident reporting were included. The received information was analysed according to category of event and conclusions drawn about how best to manage the risks that were identified. Adverse events were divided into the following categories, listed in order of the number of reports received: drug side-effects (biologics and retinoids), phototherapy dosage, drug monitoring (including initial screening), pregnancy prevention programmes, skin

  13. CEA: risk management assessment 2011

    International Nuclear Information System (INIS)

    Bigot, Bernard; Bonnevie, Edwige; Maillot, Bernard

    2012-01-01

    This report proposes a qualitative and quantitative overview of CEA activities in the field of risk management during 2011. These activities concerned the impact on the environment, the safety of installations, the management of professional risks (safety and health at work), the radiological protection of workers, the transports of hazardous materials, waste management, protection of sites, installations and heritage, the management of emergency situations, the management of law risks, controls and audits

  14. Risk based maintenance management to reduce the operational costs of wind energy

    Energy Technology Data Exchange (ETDEWEB)

    Rademakers, L.; Braam, H. [Netherlands Energy Research Foundation (ECN), Petten (Netherlands); Robberegt, M.; Katz, P. [Baas and Roost Maintenance Consult, Utrecht (Netherlands)

    2000-07-01

    A Dutch wind turbine manufacturer is presently developing an offshore wind turbine in the MW class. Much more than for onshore turbines, emphasis is put on finding a balance between high reliability, availability and energy output on the one hand and low investment and operational and maintenance (O and M) costs on the other hand. ECN has assisted with the application of reliability analysis techniques for design and for controlling O and M. The paper contains the experiences of ECN with the introduction of these techniques in the daily practice of the manufacturer. The paper focuses on three items: the benefits of performing a risk analysis during the design, the use and collection of operational data, and the development of a maintenance management system. (orig.)

  15. How to quantify sustainable development: a risk-based approach to water quality management.

    Science.gov (United States)

    Sarang, Amin; Vahedi, Arman; Shamsai, Abolfazl

    2008-02-01

    Since the term was coined in the Brundtland report in 1987, the issue of sustainable development has been challenged in terms of quantification. Different policy options may lend themselves more or less to the underlying principles of sustainability, but no analytical tools are available for a more in-depth assessment of the degree of sustainability. Overall, there are two major schools of thought employing the sustainability concept in managerial decisions: those of measuring and those of monitoring. Measurement of relative sustainability is the key issue in bridging the gap between theory and practice of sustainability of water resources systems. The objective of this study is to develop a practical tool for quantifying and assessing the degree of relative sustainability of water quality systems based on risk-based indicators, including reliability, resilience, and vulnerability. Current work on the Karoun River, the largest river in Iran, has included the development of an integrated model consisting of two main parts: a water quality simulation subroutine to evaluate Dissolved Oxygen Biological Oxygen Demand (DO-BOD) response, and an estimation of risk-based indicators subroutine via the First Order Reliability Method (FORM) and Monte Carlo Simulation (MCS). We also developed a simple waste load allocation model via Least Cost and Uniform Treatment approaches in order to consider the optimal point of pollutants control costs given a desired reliability value which addresses DO in two different targets. The Risk-based approach developed herein, particularly via the FORM technique, appears to be an appropriately efficient tool for estimating the relative sustainability. Moreover, our results in the Karoun system indicate that significant changes in sustainability values are possible through dedicating money for treatment and strict pollution controls while simultaneously requiring a technical advance along change in current attitudes for environment protection.

  16. Web based collaborative decision making in flood risk management: Application of TOPSIS and visualisation techniques for ranking of alternatives

    Science.gov (United States)

    Evers, Mariele; Almoradie, Adrian; Jonoski, Andreja

    2014-05-01

    Development of flood risk management (FRM) plans is ideally carried out in a participatory process with relevant stakeholders. Integrating stakeholders knowledge and information in the decision making process creates trust amongst decision makers and stakeholders that often leads to a successful implementation of measures. Stakeholder participation however does not come without challenges and hindrances (e.g. limitation of resources, spatial distribution and interest to participate). The most challenging type of participation is Collaborative decision making (CDM). A web-based mobile or computer-aided environment offers an innovative approach to address these challenges and hindrances. Moreover, this also enhances participation. Different phases or steps of a CDM process are addressing relevant management objectives, identify scenarios and sets of proposed alternatives, individually rank these alternatives in order of preference and present an aggregated rank to view the groups position. In individual ranking, formulation of judgement should combine scientific facts with stakeholders' beliefs and attitudes. This paper presents a developed web-based CDM framework and its implementation, highlighting the application of a Muti-Criteria Decision Making (MCDM) method for individual ranking of alternative, the method Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) with Fuzzy logic. Moreover, an innovative visualisation technique for stakeholders' group ranking is also presented. Case studies are the Alster catchment (Hamburg, Germany) and Cranbrook catchment, (London, UK). A series of stakeholders' workshops was done to test and evaluate the environments. It shows that the TOPSIS method provides a close representation of the stakeholders' preferences regarding the measures and alternatives. Overall the evaluation shows that web-based environments can address the challenges and hindrances and it enhances participation in flood risk management. The

  17. Biological Select Agents and Toxins: Risk-Based Assessment Management and Oversight.

    Energy Technology Data Exchange (ETDEWEB)

    Burnett, LouAnn Crawford; Brodsky, Benjamin H.

    2016-12-01

    Sandia National Laboratories' International Biological and Chemical Threat Reduction (SNL/IBCTR) conducted, on behalf of the Federal Select Agent Program (FSAP), a review of risk assessment in modern select agent laboratories. This review and analysis consisted of literature review, interviews of FSAP staff, entities regulated by FSAP, and deliberations of an expert panel. Additionally, SNL/IBCTR reviewed oversight mechanisms used by industries, US agencies, and other countries for high-consequence risks (e.g, nuclear, chemical, or biological materials, aviation, off-shore drilling, etc.) to determine if alternate oversight mechanisms existed that might be applicable to FSAP oversight of biological select agents and toxins. This report contains five findings, based on these reviews and analyses, with recommendations and suggested actions for FSAP to consider.

  18. Decision making support of the management of technogenically contaminated territories basing on risk analysis with use of geographic information technology

    International Nuclear Information System (INIS)

    Yatsalo, B.I.; Demin, V.F.

    2002-01-01

    Overall questions of decision making support of the contaminated territories management on a basis of risk assessment were considered. Characteristics and possibilities of the applied geoinformation system of decision making support PRANA developed for the risk control and rehabilitation of contaminated territories are demonstrated. The PRANA system involves estimations of all fundamental characteristics of risk during analysis of results and contaminated territories management [ru

  19. Caries management by risk assessment.

    Science.gov (United States)

    Young, Douglas A; Featherstone, John D B

    2013-02-01

    Caries disease is multifactorial. Whether caries disease will be expressed and damage dental hard tissue is dependent on the patient's own unique make-up of pathogenic risk factors and protective factors. Objectives This manuscript will review the science of managing caries disease based on assessing caries risk. Methods The caries balance/imbalance model and a practical caries risk assessment procedure for patients aged 6 years through adult will illustrate how treatment options can be based on caries risk. Results Neither the forms nor the clinical protocols are meant to imply there is currently only one correct way this can be achieved, rather are used in this manuscript as examples only. Conclusions It is important to have the forms and protocols simple and easy to understand when implementing caries management by risk assessment into clinical practice. The science of CAMBRA based on the caries balance/imbalance model was reviewed and an example protocol was presented. © 2012 John Wiley & Sons A/S. Published by Blackwell Publishing Ltd.

  20. Risk Management in Cocurricular Activities.

    Science.gov (United States)

    Webb, Edward M.

    1988-01-01

    Discusses risk management for colleges' cocurricular activities. Discusses tort liability, contributory negligence, and assumption of risk. Provides six concrete steps for managing risks responsibly and professionally: adopting an educational mission statement, assigning risk to others, establishing safety standards, training club advisors,…

  1. Managing Corruption Risks

    DEFF Research Database (Denmark)

    Krause Hansen, Hans

    2011-01-01

    This article investigates the emerging engagement of private actors and specifically Western corporations in international anti-corruption, drawing on Foucauldian studies of governmentality. It explores this engagement as governing practices that have emanated quite independently from the inter......-state system commonly understood to be at the core of the anti-corruption regime. It demonstrates how corporate anti-corruption ties in with a relatively new way of perceiving corruption. In this framing, anti-corruption comes out as risk management, which is latched on to notions of corporate social...... responsibility and business ethics. Moreover, the constitution of corruption risk relates to the rise of new actors and networks engaged in a wider business of anti-corruption, including commercial and hybrid actors that supply corporations with managerial instruments, benchmarks for best practice, rankings...

  2. Knowledge management: an innovative risk management strategy.

    Science.gov (United States)

    Zipperer, Lorri; Amori, Geri

    2011-01-01

    Knowledge management effectively lends itself to the enterprise risk process. The authors introduce the concept of knowledge management as a strategy to drive innovation and support risk management. They align this work with organizational efforts to improve patient safety and quality through the effective sharing of experience and lessons learned. The article closes with suggestions on how to develop a knowledge management initiative at an organization, who should be on the team, and how to sustain this effort and build the culture it requires to drive success. © 2011 American Society for Healthcare Risk Management of the American Hospital Association.

  3. Managing Climate Change Risks

    Energy Technology Data Exchange (ETDEWEB)

    Jones, R. [CSIRO Atmospheric Research, PMB1 Aspendale, Victoria 3195 (Australia)

    2003-07-01

    Issues of uncertainty, scale and delay between action and response mean that 'dangerous' climate change is best managed within a risk assessment framework that evolves as new information is gathered. Risk can be broadly defined as the combination of likelihood and consequence; the latter measured as vulnerability to greenhouse-induced climate change. The most robust way to assess climate change damages in a probabilistic framework is as the likelihood of critical threshold exceedance. Because vulnerability is dominated by local factors, global vulnerability is the aggregation of many local impacts being forced beyond their coping ranges. Several case studies, generic sea level rise and temperature, coral bleaching on the Great Barrier Reef and water supply in an Australian catchment, are used to show how local risk assessments can be assessed then expressed as a function of global warming. Impacts treated thus can be aggregated to assess global risks consistent with Article 2 of the UNFCCC. A 'proof of concept' example is then used to show how the stabilisation of greenhouse gases can constrain the likelihood of exceeding critical thresholds at both the both local and global scale. This analysis suggests that even if the costs of reducing greenhouse gas emissions and the benefits of avoiding climate damages can be estimated, the likelihood of being able to meet a cost-benefit target is limited by both physical and socio-economic uncertainties. In terms of managing climate change risks, adaptation will be most effective at reducing vulnerability likely to occur at low levels of warming. Successive efforts to mitigate greenhouse gases will reduce the likelihood of reaching levels of global warming from the top down, with the highest potential temperatures being avoided first, irrespective of contributing scientific uncertainties. This implies that the first cuts in emissions will always produce the largest economic benefits in terms of avoided

  4. Contradictions Between Risk Management and Sustainable Development

    International Nuclear Information System (INIS)

    Olsen, Odd Einar; Langhelle, Oluf; Engen, Ole A.

    2006-01-01

    The aim of this paper is to discuss how risk management as a methodology and mindset influence on priorities and decisions concerning sustainable development. Management of risks and hazards often rely on partial analysis with a limited time frame. This may lead to a paradoxical situation where risk management and extended use of risk analysis could hamper long term sustainable development. The question is: Does the use of risk and vulnerability analysis (RaV-analysis) hamper or contribute to sustainable development? Because risk management and assessment has a more narrow scope and a limited time perspective based on well established methodologies, the tangible impacts of risk reducing measures in a project is easier to calculate than long-term and intangible impacts on global development. Empirical evidence is still scarce, but our preliminary conclusion is that mainstream risk management and assessments is counterproductive to sustainable development

  5. Contradictions Between Risk Management and Sustainable Development

    Energy Technology Data Exchange (ETDEWEB)

    Olsen, Odd Einar; Langhelle, Oluf; Engen, Ole A. [Univ. of Stavanger (Norway). Dept. of Media, Culture and Social Science

    2006-09-15

    The aim of this paper is to discuss how risk management as a methodology and mindset influence on priorities and decisions concerning sustainable development. Management of risks and hazards often rely on partial analysis with a limited time frame. This may lead to a paradoxical situation where risk management and extended use of risk analysis could hamper long term sustainable development. The question is: Does the use of risk and vulnerability analysis (RaV-analysis) hamper or contribute to sustainable development? Because risk management and assessment has a more narrow scope and a limited time perspective based on well established methodologies, the tangible impacts of risk reducing measures in a project is easier to calculate than long-term and intangible impacts on global development. Empirical evidence is still scarce, but our preliminary conclusion is that mainstream risk management and assessments is counterproductive to sustainable development.

  6. Communicating Risk to Program Managers

    Science.gov (United States)

    Shivers, C. Herbert

    2005-01-01

    Program Managers (PM) can protect program resources and improve chances of success by anticipating, understanding and managing risks. Understanding the range of potential risks helps one to avoid or manage the risks. A PM must choose which risks to accept to reduce fire fighting, must meet the expectations of stakeholders consistently, and avoid falling into costly "black holes" that may open. A good risk management process provides the PM more confidence to seize opportunities save money, meet schedule, even improve relationships with people important to the program. Evidence of managing risk and sound internal controls can mean better support from superiors for the program by building a trust and reputation from being on top of issues. Risk managers have an obligation to provide the PM with the best information possible to allow the benefits to be realized (Small Business Consortium, 2004). The Institute for Chartered Accountants in England and Wales sees very important benefits for companies in providing better information about what they do to assess and manage key business risks. Such information will: a) provide practical forward-looking information; b) reduce the cost of capital; c) encourage better risk management; and d) improve accountability for stewardship, investor protection and the usefulness of financial reporting. We are particularly convinced that enhanced risk reporting will help listed companies obtain capital at the lowest possible cost (The Institute of Chartered Accountants in England &Wales, June 2002). Risk managers can take a significant role in quantifying the success of their department and communicating those figures to executive (program) management levels while pushing for a broader risk management role. Overall, risk managers must show that risk management work matters in the most crucial place-the bottom line- as they prove risk management can be a profit center (Sullivan, 2004).

  7. Risk management in anesthesia.

    Science.gov (United States)

    Cabrini, L; Levati, A

    2009-11-01

    Anesthesia is considered a leading discipline in the field of patient safety. Nevertheless, complications still occur and can be devastating. A substantial portion of anesthesia-related adverse events are preventable since risk factors can be detected and eliminated. Risk management (RM) in anesthesia includes preventive and remedial measures to minimize patient anesthesia-related morbidity and mortality. RM involves all aspects of anesthesia care. Classically, the following four steps are needed to prevent critical incidents or to learn from them: (1) detection of problems, (2) assessment, (3) implementation of solutions, and (4) verification of effectiveness. Problems and solutions can be identified into the fields of structures, processes and personnel. Authoritative agencies like the World Health Organization, the World Federation of Societies of Anesthesiologists, the Section and Board of Anesthesiology of the European Union of Medical Specialties and the Italian Scientific Society of Anesthesiologists (Società Italiana di Anestesia, Analgesia, Rianimazione e Terapia Intensiva SIAARTI) have proposed initiatives addressing safety in the operating room. The central role of a well-trained, constantly present anesthesiologist and the usefulness of checklists have been highlighted. Cost cutting and production pressure in medical care are potential threats to safety. A shared knowledge of the best standards of care and of the potential consequences of unscrupulous actions could make the daily management of conflicting interests easier. A correctly applied RM can be a powerful, highly beneficial aid to our practice.

  8. Risk management in insurance business

    OpenAIRE

    Buškevičiūtė, Eugenija; Leškevičiūtė, Audronė

    2008-01-01

    Šiame darbe nagrinėjami rizikos valdymo modeliai, taikant atvejų studijų tyrimo metodą, įvertintas galimų rizikos reikalavimų (Mokumas II) poveikis Lietuvos draudimo rinkos dalyvių veiklai ir šio tyrimo pagrindu parengtas Mokumas II hipotetinių poveikių modelis. Applying case study research method this paper analyzes risk management models, evaluates the possible effects of risk requirements (Solvency II) on the activity of Lithuanian insurance market participants and based on the research...

  9. Strategies for successful software development risk management

    Directory of Open Access Journals (Sweden)

    Marija Boban

    2003-01-01

    Full Text Available Nowadays, software is becoming a major part of enterprise business. Software development is activity connected with advanced technology and high level of knowledge. Risks on software development projects must be successfully mitigated to produce successful software systems. Lack of a defined approach to risk management is one of the common causes for project failures. To improve project chances for success, this work investigates common risk impact areas to perceive a foundation that can be used to define a common approach to software risk management. Based on typical risk impact areas on software development projects, we propose three risk management strategies suitable for a broad area of enterprises and software development projects with different amounts of connected risks. Proposed strategies define activities that should be performed for successful risk management, the one that will enable software development projects to perceive risks as soon as possible and to solve problems connected with risk materialization. We also propose a risk-based approach to software development planning and risk management as attempts to address and retire the highest impact risks as early as possible in the development process. Proposed strategies should improve risk management on software development projects and help create a successful software solution.

  10. Credit derivatives and risk management

    OpenAIRE

    Michael S. Gibson

    2007-01-01

    The striking growth of credit derivatives suggests that market participants find them to be useful tools for risk management. I illustrate the value of credit derivatives with three examples. A commercial bank can use credit derivatives to manage the risk of its loan portfolio. An investment bank can use credit derivatives to manage the risks it incurs when underwriting securities. An investor, such as an insurance company, asset manager, or hedge fund, can use credit derivatives to align its...

  11. Managing information technology security risk

    Science.gov (United States)

    Gilliam, David

    2003-01-01

    Information Technology (IT) Security Risk Management is a critical task for the organization to protect against the loss of confidentiality, integrity and availability of IT resources. As systems bgecome more complex and diverse and and attacks from intrusions and malicious content increase, it is becoming increasingly difficult to manage IT security risk. This paper describes a two-pronged approach in addressing IT security risk and risk management in the organization: 1) an institutional enterprise appraoch, and 2) a project life cycle approach.

  12. [Research of early-warning method for regional groundwater pollution based on risk management].

    Science.gov (United States)

    Bai, Li-Ping; Wang, Ye-Yao; Guo, Yong-Li; Zhou, You-Ya; Liu, Li; Yan, Zeng-Guang; Li, Fa-Sheng

    2014-08-01

    Groundwater is the main source of water supply in China, and China's overall situation of groundwater pollution is not optimistic at present. Groundwater pollution risk evaluation and early-warning are the effective measures to prevent groundwater pollution. At present, research of groundwater early-warning method at home and abroad is still at the exploratory stage, and the sophisticated technology has not been developed for reference. This paper briefly described the data and technological demand of the early-warning method in different scales, and the main factors influencing the early-warning results of groundwater pollution were classified as protection performance of geological medium, characteristics of pollution sources, groundwater dynamics and groundwater value. Then the main early-warning indexes of groundwater pollution were screened to establish the early-warning model of regional or watershed scale by the index overlay method. At last, the established early-warning model was used in Baotou plain, and the different early-warning grades were zoned by the model. The research results could provide scientific support for the local management department to protect the groundwater resources.

  13. Framework for systematic risk management

    International Nuclear Information System (INIS)

    Knief, R.A.; Mahn, J.A.; Briant, V.S.; Lee, R.B.; Long, R.L.

    1991-01-01

    The first paper of the Symposium described GPU Nuclear's Risk Management Group (RMG) and the use of literature search and interviews in a extensive study of risk management. One of the most important goals of the study was to identify comprehensive approaches to managing risk in the nuclear and major high-technology industries. This paper discusses RMG's multi-step generic risk-management process consisting of the following steps to: identify hazards; screen hazards and identify preventive actions, including costs; evaluate hazards for severity, probable frequency, and cost of preventive actions; prioritize preventive actions (preference to high risk and low cost); implement preventive actions; monitor and provide feedback

  14. Best practice of nurse managers in risk management

    Directory of Open Access Journals (Sweden)

    Veridiana Tavares Costa

    2013-09-01

    Full Text Available OBJECTIVE: to identify the actions, undertaken by nurse managers in a risk management program, considered as best practice. METHOD: a case study undertaken in a private hospital in the south of Brazil. A risk manager and nurse managers working in a risk management program participated in this study. The data was collected between May and September 2011 through analysis of documents, semi-structured interviews and non-participant observation. Based on the triangulation, the data was analyzed through practical measures. RESULTS: educational actions, the critical analysis of the context, and the multiple dimensions of the management were evidenced as best practice. CONCLUSIONS: the broadening of understanding regarding risk management best practice offers further support for nurse managers to achieve excellence in their actions and thus provide safe and quality care.

  15. Risk assessment and risk management in managed aquifer recharge

    CSIR Research Space (South Africa)

    Page, D

    2012-06-01

    Full Text Available This chapter presents the methodologies used for risk assessment and risk management in MAR in Australia and the European Union, qualitative and quantitative approaches adopted within the RECLAIM Water project and case studies where the outcomes...

  16. Understanding and managing risk attitude

    National Research Council Canada - National Science Library

    Hillson, David; Murray-Webster, Ruth

    2007-01-01

    ... This book highlights how risk attitude factors influence the human psyche, and carefully explains the impacts. Organisations seeking to dramatically improve the effectiveness of their risk management process will want to use this book's insights. Craig Peterson, President, PMI Risk Management SIG This book has prompted me to think more deeply as a change d...

  17. Comprehensive transportation asset management : risk-based inventory expansion and data needs.

    Science.gov (United States)

    2011-12-01

    Several agencies are applying asset management principles as a business tool and paradigm to help them define goals and prioritize agency resources in decision making. Previously, transportation asset management (TAM) has focused more on big ticke...

  18. Risk management frameworks for human health and environmental risks.

    Science.gov (United States)

    Jardine, Cindy; Hrudey, Steve; Shortreed, John; Craig, Lorraine; Krewski, Daniel; Furgal, Chris; McColl, Stephen

    2003-01-01

    -Making Framework for Identifying, Assessing and Managing Health Risks (Health Canada, 2000). 4. Canadian Environmental Protection Act: Human Health Risk Assessment of Priority Substances(Health Canada, 1994). 5. CSA-Q8550 Risk Management: Guidelines for Decision-Makers (Canada Standards Association, 1997). 6. Risk Assessment in the Federal Government: Managing the Process (US National Research Council, 1983). 7. Understanding Risk: Informing Decisions in a Democratic Society (US National Research Council, 1996). 8. Environmental Health Risk Assessment (enHealth Council of Australia, 2002). 9. A Framework for Ecological Risk Assessment (CCME, 1996). 10. Ecological Risk Assessments of Priority Substances Under the Canadian Environmental Protection Act (Environment Canada, 1996).11. Guidelines for Ecological Risk Assessment (US EPA, 1998b). 12. Proposed Model for Occupational Health Risk Assessment and Management (Rampal & Sadhra, 1999). Based on the extensive review of these frameworks, seven key elements that should be included in a comprehensive framework for human health, ecological, and occupational risk assessment and management were identified: 1. Problem formulation stage. 2. Stakeholder involvement. 3. Communication. 4. Quantitative risk assessment components. 5. Iteration and evaluation. 6. Informed decision making. 7. Flexibility. On the basis of this overarching approach to risk management, the following "checklist" to ensure a good risk management decision is proposed: - Make sure you're solving the right problem. - Consider the problem and the risk within the full context of the situation, using a broad perspective. - Acknowledge, incorporate, and balance the multiple dimensions of risk. - Ensure the highest degree of reliability for all components of the risk management process. - Involve interested and effected parties from the outset of the process. - Commit to honest and open communication between all parties. - Employ continuous evaluation throughout the process

  19. Forecast Based Financing for Managing Weather and Climate Risks to Reduce Potential Disaster Impacts

    Science.gov (United States)

    Arrighi, J.

    2017-12-01

    There is a critical window of time to reduce potential impacts of a disaster after a forecast for heightened risk is issued and before an extreme event occurs. The concept of Forecast-based Financing focuses on this window of opportunity. Through advanced preparation during system set-up, tailored methodologies are used to 1) analyze a range of potential extreme event forecasts, 2) identify emergency preparedness measures that can be taken when factoring in forecast lead time and inherent uncertainty and 3) develop standard operating procedures that are agreed on and tied to guaranteed funding sources to facilitate emergency measures led by the Red Cross or government actors when preparedness measures are triggered. This presentation will focus on a broad overview of the current state of theory and approaches used in developing a forecast-based financing systems - with a specific focus on hydrologic events, case studies of success and challenges in various contexts where this approach is being piloted, as well as what is on the horizon to be further explored and developed from a research perspective as the application of this approach continues to expand.

  20. Safety Risk Management for Homeland Defense and Security Responders

    National Research Council Canada - National Science Library

    Meyers, Tommey H

    2005-01-01

    .... Coast Guard and the U.S. Navy. This revealed that Operational Risk Management (ORM), a risk-based decision-making tool that systematically balances risk and mission completion, and Crew Resource Management (CRM...

  1. Innovations in Quantitative Risk Management

    CERN Document Server

    Scherer, Matthias; Zagst, Rudi

    2015-01-01

    Quantitative models are omnipresent –but often controversially discussed– in todays risk management practice. New regulations, innovative financial products, and advances in valuation techniques provide a continuous flow of challenging problems for financial engineers and risk managers alike. Designing a sound stochastic model requires finding a careful balance between parsimonious model assumptions, mathematical viability, and interpretability of the output. Moreover, data requirements and the end-user training are to be considered as well. The KPMG Center of Excellence in Risk Management conference Risk Management Reloaded and this proceedings volume contribute to bridging the gap between academia –providing methodological advances– and practice –having a firm understanding of the economic conditions in which a given model is used. Discussed fields of application range from asset management, credit risk, and energy to risk management issues in insurance. Methodologically, dependence modeling...

  2. RISK MANAGEMENT: AN INTEGRATED APPROACH TO RISK MANAGEMENT AND ASSESSMENT

    Directory of Open Access Journals (Sweden)

    Szabo Alina

    2012-12-01

    Full Text Available Purpose: The objective of this paper is to offer an overview over risk management cycle by focusing on prioritization and treatment, in order to ensure an integrated approach to risk management and assessment, and establish the ‘top 8-12’ risks report within the organization. The interface with Internal Audit is ensured by the implementation of the scoring method to prioritize risks collected from previous generated risk report. Methodology/approach: Using evidence from other research in the area and the professional expertise, this article outlines an integrated approach to risk assessment and risk management reporting processes, by separating the risk in two main categories: strategic and operational risks. The focus is on risk prioritization and scoring; the final output will comprise a mix of strategic and operational (‘top 8-12’ risks, which should be used to establish the annual Internal Audit plan. Originality/value: By using an integrated approach to risk assessment and risk management will eliminate the need for a separate Internal Audit risk assessment over prevailing risks. It will reduce the level of risk assessment overlap by different functions (Tax, Treasury, Information System over the same risk categories as a single methodology, is used and will align timings of risk assessment exercises. The risk prioritization by usage of risk and control scoring criteria highlights the combination between financial and non-financial impact criteria allowing risks that do not naturally lend themselves to a financial amount to be also assessed consistently. It is emphasized the usage of score method to prioritize the risks included in the annual audit plan in order to increase accuracy and timelines.

  3. The Institutional Bases of Investment Support for Rationalization of Agricultural Nature Management in Areas of Risk Farming

    Directory of Open Access Journals (Sweden)

    Golyan Vasyl A.

    2017-06-01

    Full Text Available The features of the imbalance in agricultural nature management in areas of risk farming (drainage and irrigation areas, mountain territories are determined. The main trends in the financing of capital investments and current expenditures for protection and rehabilitation of soil, groundwater and surface water are analyzed, which is a prerequisite for improving the institutional support for nature protection activities with respect to reproduction of the soil and water-resource potential. It is found that improving the institutional environment of investment support for nature protection and nature-exploitation activities is especially urgent for areas of risk farming, where balanced nature management is provided on the basis of coordinating the priorities for the use of land, water and biological resources. It is proved that the institutional bases of investing in the rationalization of agricultural land use in areas of risk farming should include proposals for expanding the set of incentives for financing the ecologization of the use of the agricultural resource potential, formation of public-private partnership agreements on the environmental reengineering of reclaimed territories and implementation of environmental investment projects within the framework of the Eastern Partnership programs.

  4. Risk management in a competitive electricity market

    International Nuclear Information System (INIS)

    Liu, Min; Wu, Felix F.

    2007-01-01

    In a competitive electricity market, it is necessary and important to develop an appropriate risk management scheme for trade with full utilization of the multi-market environment in order to maximize participants' benefits and minimize the corresponding risks. Based on the analyses to trading environments and risks in the electricity market, a layered framework of risk management for electric energy trading is proposed in this paper. Simulation results confirmed that trading among multiple markets is helpful to reduce the complete risk, and VaR provides a useful approach to judge whether the formed risk-control scheme is acceptable. (author)

  5. RISK MANAGEMENT IN CUSTOMS CONTROL

    Directory of Open Access Journals (Sweden)

    Elena Valerievna Drobot

    2017-06-01

    Full Text Available Customs administrations operating in the modern global economy are faced with a complex range of challenges. The prime responsibilities remain the collection of revenues and the protection of the society, but these demanding tasks must be performed effectively and efficiently, whilst at the same time facilitating the flow of legitimate goods. Risk management is a logical and systematic method of identifying, analyzing and managing risks. Risk management can be associated with any activity, function or process within the organization and will enable the organization to take advantage of opportunities and minimize potential losses. Minimization of the human factor in customs control through the implementation of non-intrusive inspection equipment can be very useful. The particularities of risk-management system (RMS implementation within customs control are discussed in the article. The authors single out the elements of the risk-management system, evaluate the effectiveness of risk-management in customs control. The main reasons for non-implementation of the risk-management system in customs control are described as well. The particular attention is paid to the benefits of customs risk management. The authors’ hypothesis is that risk management in customs control must find a balance between costs and benefits to address all risks equally. Criteria are needed to decide what constitutes an acceptable or unacceptable risk. Thus, system analysis and risk management system are the effective mechanisms for acceleration of customs clearance and improve the quality of customs control. As a conclusion, the authors give recommendations for the improvement of the effectiveness of risk management system in customs control.

  6. Risk management and corporate value

    Directory of Open Access Journals (Sweden)

    Milan Cupic

    2015-12-01

    Full Text Available The paper presents a theoretical framework for assessing the impact of risk management on corporate value. As the relevant factors that determine this impact, the paper analyzes market imperfections and investors’ risk aversion. The results of the present research indicate that risk management contributes to an increase in corporate value if, under the influence of market imperfections, corporate risk exposure is concave. As an expression of market imperfections, the paper analyzes the costs of financial distress, agency costs, and taxation. The results of the research also indicate that the risk management policy should not aim to minimize, but rather optimize risk exposure, by taking into account the costs of risk management, investors’ risk aversion and the competitive advantage a corporation has on the relevant market.

  7. Risk Management in Logystics Chains

    OpenAIRE

    Butrin, Andrey; Vikulov, Vladimir

    2013-01-01

    Article is devoted to risk management of supply chain. The authors considered indicators of supply chain risks, including risks caused by supplier. Authors formed a method of optimizing the level of supply chain risk in the integration with suppliers and customers.

  8. Improving Information Security Risk Management

    Science.gov (United States)

    Singh, Anand

    2009-01-01

    manaOptimizing risk to information to protect the enterprise as well as to satisfy government and industry mandates is a core function of most information security departments. Risk management is the discipline that is focused on assessing, mitigating, monitoring and optimizing risks to information. Risk assessments and analyses are critical…

  9. Challenges to sustainable risk management

    Energy Technology Data Exchange (ETDEWEB)

    Pinto, Ariel C., Aurora, Ashish, Hall, Dennis E.,

    2004-08-09

    This paper summarizes the intermediate lessons learned from the analyses of the risk management problems in three technological endeavors. These problems are: the absence of a structure for rewarding successful project risk management; the need for an ever-more accurate economic measure of risk; and the difficulty of transferring risks to contract-bound independent outsourcing entity. This paper also describes recent advancement towards providing answers to these challenges and future research endeavors in this field.

  10. RISKS MANAGEMENT. A PROPENSITY SCORE APPLICATION

    Directory of Open Access Journals (Sweden)

    Constangioara Alexandru

    2008-05-01

    Full Text Available Risk management is relatively unexplored in Romania. Although Romanian specialists dwell on theoretical aspects such as the risks classification and the important distinction between risks and uncertainty the practical relevance of the matter is outside existing studies. Present paper uses a dataset of consumer data to build a propensity scorecard based on relevant quantitative modeling.

  11. Managing the risks of risk management on large fires

    Science.gov (United States)

    Donald G. MacGregor; Armando. González-Cabán

    2013-01-01

    Large fires pose risks to a number of important values, including the ecology, property and the lives of incident responders. A relatively unstudied aspect of fire management is the risks to which incident managers are exposed due to organizational and sociopolitical factors that put them in a position of, for example, potential liability or degradation of their image...

  12. Characterizing Drought Risk Management and Assessing the Robustness of Snowpack-based Drought Indicators in the Upper Colorado River Basin.

    Science.gov (United States)

    Livneh, B.; Badger, A.; Lukas, J.; Dilling, L.; Page, R.

    2017-12-01

    Drought conditions over the past two decades have arisen during a time of increasing water demands in the Upper Colorado River Basin. The Basin's highly allocated and diverse water systems raise the question of how drought-based information, such as snowpack, streamflow, and reservoir conditions, can be used to inform drought risk management. Like most of the western U.S., snow-water equivalent (SWE) at key dates during the year (e.g., April 1) is routinely used in water resource planning because it is often the highest observed value during the season and it embodies stored water to be released, through melt, during critical periods later in the summer. This presentation will first focus on how water managers on Colorado's Western Slope (a) perceive drought-related risk, (b) use and access drought information, and (c) respond to drought. Preliminary findings will be presented from in-person interviews, document analysis, observations of planning meetings, and other interactions with seven water-management entities across the Western Slope. The second part of the presentation will focus on how the predictive power of snowpack-based drought indicators—identified as the most useful and reliable drought indicator by regional water stakeholders—are expected change in a warmer world, i.e. where expectations are for more rain versus snow, smaller snowpacks, and earlier snowmelt and peak runoff. We will present results from hydrologic simulations using climate projection to examine how a warming climate will affect the robustness of these snowpack-based drought indicators by mid-century.

  13. The Uncertainties of Risk Management

    DEFF Research Database (Denmark)

    Vinnari, Eija; Skærbæk, Peter

    2014-01-01

    for expanding risk management. More generally, such uncertainties relate to the professional identities and responsibilities of operational managers as defined by the framing devices. Originality/value – The paper offers three contributions to the extant literature: first, it shows how risk management itself......Purpose – The purpose of this paper is to analyse the implementation of risk management as a tool for internal audit activities, focusing on unexpected effects or uncertainties generated during its application. Design/methodology/approach – Public and confidential documents as well as semi......-structured interviews are analysed through the lens of actor-network theory to identify the effects of risk management devices in a Finnish municipality. Findings – The authors found that risk management, rather than reducing uncertainty, itself created unexpected uncertainties that would otherwise not have emerged...

  14. Project risk management in complex petrochemical system

    Directory of Open Access Journals (Sweden)

    Kirin Snežana

    2012-01-01

    Full Text Available Investigation of risk in complex industrial systems, as well as evaluation of main factors influencing decision making and implementation process using large petrochemical company as an example, has proved the importance of successful project risk management. This is even more emphasized when analyzing systems with complex structure, i.e. with several organizational units. It has been shown that successful risk management requires modern methods, based on adequate application of statistical analysis methods.

  15. Fault Management in an Objectives-Based/Risk-Informed View of Safety and Mission Success

    Science.gov (United States)

    Groen, Frank

    2012-01-01

    Theme of this talk: (1) Net-benefit of activities and decisions derives from objectives (and their priority) -- similarly: need for integration, value of technology/capability. (2) Risk is a lack of confidence that objectives will be met. (2a) Risk-informed decision making requires objectives. (3) Consideration of objectives is central to recent guidance.

  16. NGNP Risk Management Database: A Model for Managing Risk

    Energy Technology Data Exchange (ETDEWEB)

    John Collins

    2009-09-01

    To facilitate the implementation of the Risk Management Plan, the Next Generation Nuclear Plant (NGNP) Project has developed and employed an analytical software tool called the NGNP Risk Management System (RMS). A relational database developed in Microsoft® Access, the RMS provides conventional database utility including data maintenance, archiving, configuration control, and query ability. Additionally, the tool’s design provides a number of unique capabilities specifically designed to facilitate the development and execution of activities outlined in the Risk Management Plan. Specifically, the RMS provides the capability to establish the risk baseline, document and analyze the risk reduction plan, track the current risk reduction status, organize risks by reference configuration system, subsystem, and component (SSC) and Area, and increase the level of NGNP decision making.

  17. A platform for proactive, risk-based slope asset management, phase II.

    Science.gov (United States)

    2015-03-01

    The lidar visualization technique developed by this project enables highway managers to understand changes in slope characteristics : along highways. This change detection and analysis can be the basis of informed decisions for slope inspection and r...

  18. Risk Management as Part of Crisis Management Tasks

    Directory of Open Access Journals (Sweden)

    Skomra Witold

    2017-02-01

    Full Text Available The increasing number of natural disasters requires the use of preventive measures. One of the elements is the inclusion of risk management in crisis management. On the basis of this observation, the research problem was formulated: “In the light of new challenges, should the crisis management system continue to be built on the theory of crisis within the security sciences, or should it be based on risk management developed in the area of management sciences?” In summary, the answer to the question was provided, and a new definition of the concept of “crisis management” was proposed.

  19. Corporate risk management : an overview

    NARCIS (Netherlands)

    Oosterhof, Casper M.

    2001-01-01

    Corporate risk management and hedging are important activities within financial as well as non-financial corporations. Under the assumptions of Modigliani and Miller [1958], corporate risk management is a redundant activity. However, the existence of market imperfections can explain the corporate

  20. Cattle farmers’ perceptions of risk and risk management strategies

    DEFF Research Database (Denmark)

    Bishu, Kinfe G.; O'Reilly, Seamus; Lahiff, Edward

    2018-01-01

    regression is then used to investigate the relationship between scores and farmers’ characteristics. The results demonstrate that shortage of family labor, high price of fodder, and limited farm income were perceived as the most important risks. Use of veterinary services, parasite control, and loan......This study analyzes cattle farmers’ perceptions of risk and risk management strategies in Tigray, Northern Ethiopia. We use survey data from a sample of 356 farmers based on multistage random sampling. Factor analysis is employed to classify scores of risk and management strategies, and multiple...... utilization were perceived as the most important strategies for managing risks. Livestock disease and labor shortage were perceived as less of a risk by farmers who adopted the practice of zero grazing compared to other farmers, pointing to the potential of this practice for risk reduction. We find strong...

  1. Systems approach to project risk management

    Energy Technology Data Exchange (ETDEWEB)

    Kindinger, J. P. (John P.)

    2002-01-01

    This paper describes the need for better performance in the planning and execution of projects and examines the capabilities of two different project risk analysis methods for improving project performance. A quantitative approach based on concepts and tools adopted from the disciplines of systems analysis, probabilistic risk analysis, and other fields is advocated for managing risk in large and complex research & development projects. This paper also provides an overview of how this system analysis approach for project risk management is being used at Los Alamos National Laboratory along with examples of quantitative risk analysis results and their application to improve project performance.

  2. Strategic Risk Management and Corporate Value Creation

    DEFF Research Database (Denmark)

    Andersen, Torben Juul; Roggi, Oliviero

    Major corporate failures, periodic recessions, regional debt crises and volatile markets have intensified the focus on corporate risk management as the means to deal better with turbulent business conditions. Hence, the ability to respond effectively to the often dramatic environmental changes...... is considered an important source of competitive advantage. However, surprisingly little research has analyzed if the presumed advantages of effective risk management lead to superior performance or assessed important antecedents of effective risk management capabilities. Here we present a comprehensive study...... of risk management effectiveness and the relationship to corporate performance based on panel data for more than 3,400 firms accounting for over 33,500 annual observations during the turbulent period 1991-2010. Determining effective risk management as the ability to reduce earnings and cash flow...

  3. TRManager – Technical Risk Manager

    Directory of Open Access Journals (Sweden)

    Mark A. Gregory

    2009-06-01

    Full Text Available This paper presents research into the development of a new information management technique called Technical Risk Manager. Project management involves the use of processes and information management techniques to aid decision making in the pursuit of project success. Project success may be achieved by meeting time, cost or performance criteria. Current project management practices focus on achieving time and cost project success criteria by using three information management techniques developed in the 1950s: Gantt, PERT and Critical Path Method. Technical Risk Manager has been developed to provide an information management technique that may be used to aid project management decision making in the pursuit of achieving the performance project success criteria.

  4. Business risk management

    International Nuclear Information System (INIS)

    Cosby, C.

    2015-01-01

    Bruce Power's definition: an emerging and demonstrable event or change in business plan assumptions that could impact Bruce Power's achievement of its business plan objectives and results. Risks can be either negative (threats) or positive (opportunities). Risks against the 5 year business plan Net Risk = impact * probability.

  5. Risk Management In Perspective Of Knowledge Management A Brief Survey

    Science.gov (United States)

    Rehman, Zobia; Kifor, Claudiu V.

    2015-09-01

    This article explains the application of knowledge management for project risk management in industry. Combination of knowledge management and risk management is becoming a dire need for industries nowadays, because it has become necessary to make information reach timely to its destined users to achieve the desired goals. Quick decisions are needed throughout a project life cycle to mitigate or avoid a risk, but they are only possible when knowledge about it is in hand and can be inferred for fruitful decisions. Quality engineers make huge effort in analyzing and mitigating the risk and prepare various documents about different risk management stages. But this knowledge resides in documents or underutilized databases without any relation to each other that makes it useless for complex decision making. This article shall explain how knowledge management activities are helpful in risk management and the advantages of their fusion. It will also present a conceptual architecture of an Information Technology based solution for risk management and knowledge management combination.

  6. Integrated supply chain risk management

    Directory of Open Access Journals (Sweden)

    Riaan Bredell

    2007-11-01

    Full Text Available Integrated supply chain risk management (ISCRM has become indispensable to the theory and practice of supply chain management. The economic and political realities of the modern world require not only a different approach to supply chain management, but also bold steps to secure supply chain performance and sustainable wealth creation. Integrated supply chain risk management provides supply chain organisations with a level of insight into their supply chains yet to be achieved. If correctly applied, this process may optimise management decision-making and assist in the protection and enhancement of shareholder value.

  7. INTERNAL AUDIT AND RISK MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Elena RUSE

    2014-04-01

    Full Text Available The existence of risk in economic activity can not be denied. In fact, the risk is a concept which exists in every activity, the term of risk being identified with uncertainty, respectively the (unchance to produce an undesirable event. Internal audit and risk management aim at the same goal, namely the control of risks. Internal Audit performs several roles in risk management plan. The objectives of the internal audit function varies from company to company, but in all economic entities internal audit department aims to improve performance management, enterprise performance and thus improve the internal control system. This paper aims to demonstrate, among other things, that any event that may result in failure is unquestionably classified as risk.

  8. Information Security Maturity as an Integral Part of ISMS based Risk Management Tools

    NARCIS (Netherlands)

    Fetler, Ben; Harpes, Carlo

    2016-01-01

    Measuring the continuous improvement of Information Security Management Systems (ISMS) is often neglected as most organizations do not know how to extract key-indicators that could be used for this purpose. The underlying work presents a six-level maturity model which can be fully integrated in a

  9. Risk-based planning and optimization of flood management measures in developing countries : Case Pakistan

    NARCIS (Netherlands)

    Tariq, M.A.U.R.

    2011-01-01

    About 95-97% of all deaths and a significant part of the economic losses caused by floods occur in developing countries. Despite the resources spent on different measures, flood management arrangements in developing countries are still unable to deliver satisfactory results. The objective of this

  10. An Approach to Assess Knowledge and Skills in Risk Management through Project-Based Learning

    Science.gov (United States)

    Galvao, Tulio Acacio Bandeira; Neto, Francisco Milton Mendes; Campos, Marcos Tullyo; Junior, Edson de Lima Cosme

    2012-01-01

    The increasing demand for Software Engineering professionals, particularly Project Managers, and popularization of the Web as a catalyst of human relations have made this platform interesting for training this type of professional. The authors have observed the widespread use of games as an attractive instrument in the process of teaching and…

  11. Eliciting local spatial knowledge for community - based disaster risk management : working with Cybertracker in Georgian Caucasus

    NARCIS (Netherlands)

    Spanu, V.; McCall, M.K.

    2013-01-01

    CyberTracker (CT) participatory field data collection software is used as an element of Participatory GIS for acquiring, geo-referencing, storing and transferring local spatial knowledge. It has been developed initially for animal tracking, ecological surveys and conservation management activities,

  12. Managing Risk in Systems Development.

    Science.gov (United States)

    DePaoli, Marilyn M.; And Others

    Stanford University's use of a risk assessment methodology to improve the management of systems development projects is discussed. After examining the concepts of hazard, peril, and risk as they relate to the system development process, three ways to assess risk are covered: size, structure, and technology. The overall objective for Stanford…

  13. Risk Management for Enterprise Resource Planning System Implementations in Project-Based Firms

    Science.gov (United States)

    Zeng, Yajun

    2010-01-01

    Enterprise Resource Planning (ERP) systems have been regarded as one of the most important information technology developments in the past decades. While ERP systems provide the potential to bring substantial benefits, their implementations are characterized with large capital outlay, long duration, and high risks of failure including…

  14. Developing an aviation exposure index to inform risk-based fire management decisions

    Science.gov (United States)

    Crystal S. Stonesifer; David E. Calkin; Matthew P. Thompson; Jeffrey D. Kaiden

    2014-01-01

    Wildland firefighting is an inherently dangerous activity, and aviation-related accidents in particular comprise a large share of firefighter fatalities. Due to limited understanding of operational factors that lead to aviation accidents, it is unclear how local decisionmakers, responsible for requesting aviation support, can mitigate the risk of an aviation accident...

  15. Toward a Holistic and Risk-Based Management of European River Basins

    NARCIS (Netherlands)

    Brack, W.; Apitz, S.E.; Borchardt, D.; Brils, J.; Cardos, A.C.; Foekema, E.M.; Verdonschot, P.F.M.

    2009-01-01

    EDITOR'S NOTE: This is 1 of 12 papers prepared by participants attending the workshop ¿Risk Assessment in European River Basins¿State of the Art and Future Challenges¿ held in Liepzig, Germany on 12¿14 November 2007. The meeting was organized within the framework of the European Commission's

  16. Stochastic goal programming based groundwater remediation management under human-health-risk uncertainty

    Energy Technology Data Exchange (ETDEWEB)

    Li, Jing; He, Li, E-mail: li.he@ncepu.edu.cn; Lu, Hongwei; Fan, Xing

    2014-08-30

    Highlights: • We propose an integrated optimal groundwater remediation design approach. • The approach can address stochasticity in carcinogenic risks. • Goal programming is used to make the system approaching to ideal operation and remediation effects. • The uncertainty in slope factor is evaluated under different confidence levels. • Optimal strategies are obtained to support remediation design under uncertainty. - Abstract: An optimal design approach for groundwater remediation is developed through incorporating numerical simulation, health risk assessment, uncertainty analysis and nonlinear optimization within a general framework. Stochastic analysis and goal programming are introduced into the framework to handle uncertainties in real-world groundwater remediation systems. Carcinogenic risks associated with remediation actions are further evaluated at four confidence levels. The differences between ideal and predicted constraints are minimized by goal programming. The approach is then applied to a contaminated site in western Canada for creating a set of optimal remediation strategies. Results from the case study indicate that factors including environmental standards, health risks and technical requirements mutually affected and restricted themselves. Stochastic uncertainty existed in the entire process of remediation optimization, which should to be taken into consideration in groundwater remediation design.

  17. Promoting Service User Inclusion in Risk Assessment and Management: A Pilot Project Developing a Human Rights-Based Approach

    Science.gov (United States)

    Greenhill, Beth; Whitehead, Richard

    2011-01-01

    Recent reports highlight the extent to which many people with learning disabilities are not afforded access to their basic human rights. In addition, traditional approaches to risk management often focus on professional assessments of risks and challenging behaviour and exclude service user perspectives. In this paper, we outline what we believe…

  18. Enterprise risk management and disclosure

    Directory of Open Access Journals (Sweden)

    Nicoleta Farcane

    2008-01-01

    Full Text Available Our paper deals with aspects regarding risk and uncertainty. Many risk management methods are today implemented in organizations. This perspective reveals that managers are linked in different forms to the activities they are managing, depending on the conditions and levels of uncertainty they are in. Actually, these multiple levels of uncertainty lead to the conclusion that any situation in an organizational system can be classified in two different models of organizational phenomena: the organizational phenomena that are putting managers and stakeholders in conditions of risk and the organizational phenomena that are putting them in condition of uncertainty. Using content analyze in this paper we survey the disclosure level of risk management information in the annual report of top Romanian listed companies.

  19. Risks management in project planning

    OpenAIRE

    Stankevičiūtė, Roberta

    2017-01-01

    Project management consists of two very important aspects – managing the right project and managing the project right. To know that you are managing the right project you need to ensure that your project is based on an actual requirement and that your project goal is relevant and beneficial. And professional project planning assists in managing project the right way. The project planning process is very time consuming and is one of the most important parts of the project management process. T...

  20. Effectiveness of a Reduced-Risk Insecticide Based Bed Bug Management Program in Low-Income Housing

    Directory of Open Access Journals (Sweden)

    Narinderpal Singh

    2013-11-01

    Full Text Available Bed bug (Cimex lectularius L. infestations are becoming increasingly common in low-income communities. Once they are introduced, elimination is very difficult. As part of the efforts to develop effective and safe bed bug management programs, we conducted a laboratory study evaluating the efficacy of a reduced-risk insecticide—Alpine aerosol (0.5% dinotefuran. We then conducted a field evaluation of a reduced-risk insecticide based integrated pest management (IPM program in low-income family apartments with young children. In laboratory evaluations, direct spray and 5 min exposure to dry Alpine aerosol residue caused 100.0 ± 0.0 and 91.7 ± 8.3% mortality to bed bug nymphs, respectively. Direct Alpine aerosol spray killed 91.3 ± 4.3% of the eggs. The IPM program included education, steam, bagging infested linens, placing intercepting devices under furniture legs and corners of rooms, applying Alpine aerosol and Alpine dust (0.25% dinotefuran, 95% diatomaceous earth dust, and regularly scheduled monitoring and re-treatment. Nine apartments ranging from 1–1,428 (median: 29 bed bugs based on visual inspection and Climbup interceptor counts were included. Over a 6-month period, an average 172 g insecticide (Alpine aerosol + Alpine dust was used in each apartment, a 96% reduction in pesticide usage compared to chemical only treatment reported in a similar environment. The IPM program resulted in an average of 96.8 ± 2.2% reduction in the number of bed bugs. However, elimination of bed bugs was only achieved in three lightly infested apartments (<30 bed bugs at the beginning. Elimination success was closely correlated with the level of bed bug populations.

  1. Towards risk-based drought management in the Netherlands: making water supply levels transparent to water users

    Science.gov (United States)

    Maat Judith, Ter; Marjolein, Mens; Vuren Saskia, Van; der Vat Marnix, Van

    2016-04-01

    Improving Predictions and Management of Hydrological Extremes (IMPREX), running from 2016-2019, a consortium of the Dutch research institute Deltares and the Dutch water management consultant HKV will design and build a tool to support quantitative risk-informed decision-making for fresh water management for the Netherlands, in particular the decision on water supply service levels. The research will be conducted in collaboration with the Dutch Ministry for Infrastructure and Environment, the Freshwater Supply Programme Office, the Dutch governmental organisation responsible for water management (Rijkswaterstaat), the Foundation for Applied Water Research, (STOWA, knowledge centre of the water boards) and a number of water boards. In the session we will present the conceptual framework for a risk-based approach for water shortage management and share thoughts on how the proposed tool can be applied in the Dutch water management context.

  2. RISKS IN INVESTMENT AND MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Ms. Tatiana A. Ykovleva

    2016-12-01

    Full Text Available The article discusses the features of investment risks and their causes, as well as provides a detailed classification of investment risks. The authors reveal the essence and content of the investment process, risk management, providing material for presentation in the form of a diagram. In conclusion, the article explains the use of the system of specialized institutions as a way to exclude the basic, or primary investment risk.

  3. RISK MANAGEMENT IN BUSINESS

    OpenAIRE

    Corina Ducu; Mihaela Mãrãcine

    2011-01-01

    The business environment is more competitive than ever and it is characterized by risk, uncertainty, speed and volatility. The concept of risk in business is inextricably linked to the concept of profitability and flexibility. The result of the company (profit or loss) is influenced by unexpected events that accompany its activity.

  4. Cardiovascular risk reduction and weight management at a hospital-based postpartum preeclampsia clinic.

    Science.gov (United States)

    Janmohamed, Rahim; Montgomery-Fajic, Erin; Sia, Winnie; Germaine, Debbie; Wilkie, Jodi; Khurana, Rshmi; Nerenberg, Kara A

    2015-04-01

    Women who develop preeclampsia during pregnancy are at high risk of developing future chronic diseases, including premature cardiovascular disease. We have established an interdisciplinary clinic that aims to prevent cardiovascular disease through educational counselling focused on lifestyle modifications in the early postpartum period. The objective of this study was to evaluate changes in weight and cardiovascular risk factors in participating women after six months of attendance at the clinic. We conducted a retrospective chart review of women who had a pregnancy complicated by preeclampsia, and who subsequently attended the Postpartum Preeclampsia Clinic. Study subjects had baseline assessments of lifestyle, physical, and laboratory parameters. Individualized goals for cardiovascular risk reduction and lifestyle were established, centering on physical activity and dietary modifications. The primary outcome was change in weight. Over the study period, 21 women were seen for a minimum of six months of follow-up. At an average (± SD) of 4.4 ± 1.4 months postpartum, subjects showed a non-significant improvement in weight (mean weight loss of 0.4 ± 4.5 kg) and BMI (mean decrease in BMI 0.1 ± 1.7 kg/m2). Physical activity improved significantly, from 14% of subjects participating in physical activity before pregnancy to 76% at a mean of 4.4 months postpartum. This study has demonstrated the early benefits of a longitudinal interdisciplinary intervention with counselling about lifestyle modifications for prevention of cardiovascular disease in women with recent preeclampsia. A study with a larger sample size and longer duration of follow-up is planned to confirm these findings.

  5. Risk management framework a lab-based approach to securing information systems

    CERN Document Server

    Broad, James

    2013-01-01

    The RMF allows an organization to develop an organization-wide risk framework that reduces the resources required to authorize a systems operation. Use of the RMF will help organizations maintain compliance with not only FISMA and OMB requirements but can also be tailored to meet other compliance requirements such as Payment Card Industry (PCI) or Sarbanes Oxley (SOX). With the publishing of NIST SP 800-37 in 2010 and the move of the Intelligence Community and Department of Defense to modified versions of this process, clear implementation guidance is needed to help individuals correctly im

  6. Risk preferences, probability weighting, and strategy tradeoffs in wildfire management

    Science.gov (United States)

    Michael S. Hand; Matthew J. Wibbenmeyer; Dave Calkin; Matthew P. Thompson

    2015-01-01

    Wildfires present a complex applied risk management environment, but relatively little attention has been paid to behavioral and cognitive responses to risk among public agency wildfire managers. This study investigates responses to risk, including probability weighting and risk aversion, in a wildfire management context using a survey-based experiment administered to...

  7. METHODOLOGICAL ISSUES OF BANKING OPERATIONAL RISK MANAGEMENT

    Directory of Open Access Journals (Sweden)

    David I. Philippov

    2015-01-01

    Full Text Available The article highlights the issues of operational risk management methodology in commercial bank. The main sources of operational risks, risk indicators, operational risk assessment techniques.

  8. Risk Management Issues - An Aerospace Perspective

    Science.gov (United States)

    Perera, Jeevan S.

    2011-01-01

    Phased-approach for implementation of risk management is necessary. Risk management system will be simple, accessible and promote communication of information to all relevant stakeholders for optimal resource allocation and risk mitigation. Risk management should be used by all team members to manage risks--risk office personnel. Each group is assigned Risk Integrators who are facilitators for effective risk management. Risks will be managed at the lowest-level feasible, elevate only those risks that require coordination or management from above. Risk reporting and communication is an essential element of risk management and will combine both qualitative and quantitative elements.. Risk informed decision making should be introduced to all levels of management. Provide necessary checks and balances to insure that risks are caught/identified and dealt with in a timely manner, Many supporting tools, processes & training must be deployed for effective risk management implementation. Process improvement must be included in the risk processes.

  9. Risk-Based Decision-Making and the Use of Operational Risk Management in Developing a Course of Action (COA) for the Joint Task Force (JTF)

    National Research Council Canada - National Science Library

    Faherty, Denis

    2003-01-01

    Uncertainty and risk are inherent in the nature of military action. The success of any joint military operation is based upon a willingness to balance risk with opportunity in taking bold, decisive action necessary to triumph in war...

  10. Applied software risk management a guide for software project managers

    CERN Document Server

    Pandian, C Ravindranath

    2006-01-01

    Few software projects are completed on time, on budget, and to their original specifications. Focusing on what practitioners need to know about risk in the pursuit of delivering software projects, Applied Software Risk Management: A Guide for Software Project Managers covers key components of the risk management process and the software development process, as well as best practices for software risk identification, risk planning, and risk analysis. Written in a clear and concise manner, this resource presents concepts and practical insight into managing risk. It first covers risk-driven project management, risk management processes, risk attributes, risk identification, and risk analysis. The book continues by examining responses to risk, the tracking and modeling of risks, intelligence gathering, and integrated risk management. It concludes with details on drafting and implementing procedures. A diary of a risk manager provides insight in implementing risk management processes.Bringing together concepts ...

  11. The Theme of Risk Management

    Directory of Open Access Journals (Sweden)

    Chua, D. K. H.

    2014-07-01

    Full Text Available The papers in this issue of the Journal come from different industry sectors, yet there can be a common theme that ties them together. Two of the papers address explicitly the issue of risk management, while the other three may be related to it in different degrees. One of the critical factors for project success is risk identification, as determined by Chua et al. (1999. The importance of risk management cannot be overemphasized. Failure to identify crucial risk elements in a project can lead to significant project failures in terms of cost and schedule.

  12. Risk Management of New Microelectronics for NASA: Radiation Knowledge-base

    Science.gov (United States)

    LaBel, Kenneth A.

    2004-01-01

    Contents include the following: NASA Missions - implications to reliability and radiation constraints. Approach to Insertion of New Technologies Technology Knowledge-base development. Technology model/tool development and validation. Summary comments.

  13. Prognostic Health Management System: Component Selection Based on Risk Criteria and Economic Benefit Assessment

    International Nuclear Information System (INIS)

    Pham, B.T.; Agarwal, V.; Lybeck, N.J.; Tawfik, M.S.

    2012-01-01

    Long-term operation (LTO), i.e., beyond 60 years, of the current fleet of nuclear power plants (NPPs) is an important element in the overall energy stability of the United States in coming decades. Problem Statement and Proposed Approach: - For LTO of NPPs, early and proactive diagnosis of degradation at systems, structures, and components (SSCs) level is required; - Periodic maintenance versus Proactive maintenance; - Prognostic Health Monitoring (PHM) can be used to better manage aging and degradation mechanisms, including emerging mechanisms; - Selection of components is crucial for implementing the PHM system; - Approach is to develop a quantitative framework that aids systematic identification of plant components that are selected for cost-effective PHM.

  14. Understanding Risk Management

    National Research Council Canada - National Science Library

    2005-01-01

    The U.S. Air Force's Software Technology Support Center offers an updated and condensed version of the "Guidelines for Successful Acquisition and Management of Software-Intensive Systems" (GSAM) on its Web site...

  15. Practical Methods for Information Security Risk Management

    Directory of Open Access Journals (Sweden)

    Cristian AMANCEI

    2011-01-01

    Full Text Available The purpose of this paper is to present some directions to perform the risk man-agement for information security. The article follows to practical methods through question-naire that asses the internal control, and through evaluation based on existing controls as part of vulnerability assessment. The methods presented contains all the key elements that concurs in risk management, through the elements proposed for evaluation questionnaire, list of threats, resource classification and evaluation, correlation between risks and controls and residual risk computation.

  16. Self-management of vascular risk factors

    NARCIS (Netherlands)

    Sol-de Rijk, B.G.M.

    2009-01-01

    Summary The aim of this thesis was to provide insight into the potential of a self-management approach in treatment of vascular risk factors and to develop a self-management intervention. Furthermore to examine if this intervention, based on self-efficacy promoting theory, is effective in reducing

  17. Managing project risks and uncertainties

    Directory of Open Access Journals (Sweden)

    Mike Mentis

    2015-01-01

    Full Text Available This article considers threats to a project slipping on budget, schedule and fit-for-purpose. Threat is used here as the collective for risks (quantifiable bad things that can happen and uncertainties (poorly or not quantifiable bad possible events. Based on experience with projects in developing countries this review considers that (a project slippage is due to uncertainties rather than risks, (b while eventuation of some bad things is beyond control, managed execution and oversight are still the primary means to keeping within budget, on time and fit-for-purpose, (c improving project delivery is less about bigger and more complex and more about coordinated focus, effectiveness and developing thought-out heuristics, and (d projects take longer and cost more partly because threat identification is inaccurate, the scope of identified threats is too narrow, and the threat assessment product is not integrated into overall project decision-making and execution. Almost by definition, what is poorly known is likely to cause problems. Yet it is not just the unquantifiability and intangibility of uncertainties causing project slippage, but that they are insufficiently taken into account in project planning and execution that cause budget and time overruns. Improving project performance requires purpose-driven and managed deployment of scarce seasoned professionals. This can be aided with independent oversight by deeply experienced panelists who contribute technical insights and can potentially show that diligence is seen to be done.

  18. Managing Multiple Risk Factors

    National Research Council Canada - National Science Library

    Lollis, Charlie

    1998-01-01

    ...) contribute to the racial differences in cardiovascular risk and events among women. High levels of socioeconomic stress, higher dietary fat intake and sedentary lifestyle are more prevalent among black than white women...

  19. Intentional risk management through complex networks analysis

    CERN Document Server

    Chapela, Victor; Moral, Santiago; Romance, Miguel

    2015-01-01

    This book combines game theory and complex networks to examine intentional technological risk through modeling. As information security risks are in constant evolution,  the methodologies and tools to manage them must evolve to an ever-changing environment. A formal global methodology is explained  in this book, which is able to analyze risks in cyber security based on complex network models and ideas extracted from the Nash equilibrium. A risk management methodology for IT critical infrastructures is introduced which provides guidance and analysis on decision making models and real situations. This model manages the risk of succumbing to a digital attack and assesses an attack from the following three variables: income obtained, expense needed to carry out an attack, and the potential consequences for an attack. Graduate students and researchers interested in cyber security, complex network applications and intentional risk will find this book useful as it is filled with a number of models, methodologies a...

  20. How to manage risk better

    CSIR Research Space (South Africa)

    Walwyn, DR

    2002-09-01

    Full Text Available Risk management practices in the R&D departments of many chemical and pharmaceutical companies lack much of the rigor and sophistication of the equivalent corporation in the financial sector. For instance investment decisions on research projects...

  1. Event Management for Teacher-Coaches: Risk and Supervision Considerations for School-Based Sports

    Science.gov (United States)

    Paiement, Craig A.; Payment, Matthew P.

    2011-01-01

    A professional sports event requires considerable planning in which years are devoted to the success of that single activity. School-based sports events do not have that luxury, because high schools across the country host athletic events nearly every day. It is not uncommon during the fall sports season for a combination of boys' and girls'…

  2. Development of advanced risk informed asset management tool based on system dynamics approach for nuclear power plant

    International Nuclear Information System (INIS)

    Lee, Gyoung Cheol

    2007-02-01

    In the competitive circumstance of electricity industry, the economic efficiency of electricity generation facility is the most important factor to increase their competitiveness. For nuclear power plant (NPP), safety is also an essential factor. Over fast several years, efforts for development of safety concerned and financial asset maximizing method, process and tools have been continued internationally and Risk-Informed Asset Management (RIAM) methodology is suggested by Electric Power Research Institute (EPRI). This RIAM methodology is expected to provide plant operators with a project prioritization and life cycle management planning tool for making long-term maintenance plans, guiding plant budgeting, and determining the sensitivity of a plant's economic risk to the reliability and availability of system, structure, and components (SSC), as well as other technical and economic parameters. The focus of this study is to develop model that help us to resource allocation, to find what effect such allocations on the plant economic and safety performance. Detailed research process for this goal is as follow; First step for development of advanced RIAM model is to review for current RIAM model of EPRI. This part describes the overall RIAM methodology including its conceptual model, implementation process, modular approach etc. Second step is to perform feasibility study for current EPRI's RIAM model with case study. This part shows the result of feasibility study for current RIAM method by case study and discussion for result. Finally, concept of Advanced RIAM model is developed based on system dynamics approach and parameter relationship is formulated. In advanced RIAM Model, Identification of scheduled maintenance effect on other parameters and the relationship between PM Activity and failure rate is most important factor. In this study, these relationships are formulated based on system dynamics approach. Creations of these modeling tool using Vensim

  3. Web-Based versus High-Fidelity Simulation Training for Certified Registered Nurse Anesthetists in the Management of High Risk/Low Occurrence Anesthesia Events

    Science.gov (United States)

    Kimemia, Judy

    2017-01-01

    Purpose: The purpose of this project was to compare web-based to high-fidelity simulation training in the management of high risk/low occurrence anesthesia related events, to enhance knowledge acquisition for Certified Registered Nurse Anesthetists (CRNAs). This project was designed to answer the question: Is web-based training as effective as…

  4. Sustainable flood risk management – What is sustainable?

    OpenAIRE

    Sørup, Hjalte Jomo Danielsen; Brudler, Sarah; Lerer, Sara Maria; Miraglia, Simona; Georgiadis, Stylianos; Dong, Yan; Arnbjerg-Nielsen, Karsten

    2016-01-01

    Sustainable flood risk management has to be achieved since flood protection is a fundamental societal service that we must deliver. Based on the discourse within the fields of risk management and sustainable urban water management, we discuss the necessity of assessing the sustainability of flood risk management, and propose an evaluation framework for doing so. We argue that it is necessary to include quantitative sustainability measures in flood risk management in order to exclude unsustain...

  5. Legal risk management in shipping

    DEFF Research Database (Denmark)

    Siig, Kristina

    The book discusses the most typical legal challenges met in the chartering, broker, agent or port management part of the shipping industry. It discusses these issues in both English and Scandinavian law and gives indications on how to best ensure your legal risk management in these parts...

  6. Sustainable Risk Management in the Banking Sector

    Directory of Open Access Journals (Sweden)

    Županović Ivo

    2014-01-01

    Full Text Available The globalization of financial markets and negative consequences of the financial crisis resulted in negative connotations in the operation of many financial institutions, businesses and citizens and imposed the need to implement appropriate risk management measures in the banking sector. Evolution of the financial sector makes a lot of news in the field of risk management and particularly the modelling of market, credit and operational risk. The main methodology for risk management is the value-at-risk, which is used in practice with other techniques such as the capital- at-risk method in order to minimize business risks and achieve optimal results in the banking and, generally, financial operations. Accordingly, at all levels of governance in the banking sector, there are prudential policies in place governing the management of all types of financial and operational risks. Based on the abovementioned, the focus of the examination was on the above postulate, and prompt recognition, control and proper management of banking risks.

  7. Risk Management for Food Allergy

    DEFF Research Database (Denmark)

    Risk Management for Food Allergy is developed by a team of scientists and industry professionals who understand the importance of allergen risk assessment and presents practical, real-world guidance for food manufacturers. With more than 12 million Americans suffering from food allergies and little...

  8. The effects of life history strategy and uncertainty on a probability-based approach to managing the risk of overfishing

    OpenAIRE

    Susko, Emily Clare

    2012-01-01

    Recent U.S. legislation applies a precautionary approach to setting catch regulations in federal fisheries management. A transparent approach to complying with federal guidelines involves calculating the catch recommendation that corresponds to a specified probability, P*, of exceeding the "true" overfishing limit (OFL) located within an estimated distribution. The P* methodology aims to manage the risk of overfishing explicitly, but choice of P* alone does not provide sufficient informati...

  9. Approving the ISDWIR method of risk measurement in making risk management decision

    OpenAIRE

    Strelnik, Mikhail

    2014-01-01

    This paper is devoted to risk management and risk measurement methods. The author considers methods of risk measurement and proposes the Inte- gral Sum of Differential Weighted Indexes of Risks (or ISDWIR) method of risk measurement. The method is based on dynamic enterprise risk matri- ces. The matrix describes the changes of corporate risk values over the time. The method assists to choose risk management decision having good effects on corporate risk values. The ISDWIR method is also compa...

  10. Space weather and risk management

    Directory of Open Access Journals (Sweden)

    H. Lappalainen

    2005-01-01

    Full Text Available The term space weather is used for the solar driven variability in particle and electromagnetic conditions of the near-Earth space that may harm the performance of ground-based and space-borne technology. The European Union (EU and the European Space Agency (ESA have started a common programme called the Global Monitoring for Environment and Security (GMES. Many of the GMES operational services will rely on technology prone to space weather phenomena. For long-term environmental monitoring this is not a problem, but for applications of risk management in emergency situations the impact of space weather should be considered and evaluated. In this paper, we discuss how ESA's previous activity together with European national initiatives in the space weather area can be used to support GMES and how EU could participate in this work in its Framework Programmes and within the European Research Area (ERA.

  11. COMPUTERIZED MODEL OF RISK MANAGEMENT IN BUSINESS

    Directory of Open Access Journals (Sweden)

    Petrişor MANDU

    2011-01-01

    Full Text Available The occurrence of risk situation and the manager’s awareness of it are serious threats for the organization and its objectives. Consequently, the manager has to have available, analyze, select and interpret many pieces of information, under stress, before making a decision for avoiding a disaster. Under these circumstances, a computerized model of risk management is the most adequate solution to make the intervention possibilities effective through a quicker and more accurate intervention. The model offers enough confidence and a favorable psychological state for managing risk. In accordance with this model, the risk manager processes the information by means of some operational (mathematical methods and that favors reaching optimum solutions in the shortest delay, based on some estimated anticipations through a rational model.

  12. Managing Supplier Sustainability Risk

    OpenAIRE

    Harilainen, Hanna-Riitta

    2014-01-01

    Supply chains are increasingly global, often reaching to developing regions. The media pressure brand owners to be responsible, but a product is only as sustainable as the practices of all the companies involved in manufacturing it are. It’s not enough that the brand owner acts responsibly; sustainable practices have to reach component and raw material suppliers upstream. Image risk has often been recognized as reason for investing in sustainability. In the supply chain context, supplier m...

  13. Diagnosis and clinical management of melanoma patients at higher risk of a new primary melanoma: A population-based study in New South Wales, Australia.

    Science.gov (United States)

    Watts, Caroline G; Madronio, Christine M; Morton, Rachael L; Goumas, Chris; Armstrong, Bruce K; Curtin, Austin; Menzies, Scott W; Mann, Graham J; Thompson, John F; Cust, Anne E

    2017-11-01

    To describe the method of diagnosis, clinical management and adherence to clinical practice guidelines for melanoma patients at high risk of a subsequent primary melanoma, and compare this with melanoma patients at lower risk. The Melanoma Patterns of Care study was a population-based, observational study based on doctors' reported clinical management of melanoma patients in New South Wales, Australia, diagnosed with in situ or invasive melanoma over a 12-month period from October 2006. Of 2605 patients with localised melanoma, 1019 (39%) were defined as at higher risk due to the presence of one or more of the following factors: a family history of melanoma (11%), multiple primary melanomas (17%), or many naevi (24%). Compared to patients at lower risk, high risk patients were more likely to receive their initial care from a primary care physician (56% vs 50%, P = 0.002), have their melanoma detected during a routine skin check (40% vs 33%, P < 0.001), have their lesion assessed with dermoscopy (63% vs 56%, P = 0.002), and be encouraged to have skin surveillance (84% vs 77%, P < 0.001) and skin self-examination (87% vs 83%, P = 0.03). Higher socioeconomic status and urban residence were associated with patients at higher risk receiving initial treatment from a specialist doctor. Clinical management of higher risk patients was more likely to conform to clinical practice guidelines for diagnosis and skin surveillance than to melanoma patients at lower risk. © 2016 The Australasian College of Dermatologists.

  14. Radiation risk management at DOE accelerator facilities

    International Nuclear Information System (INIS)

    Dyck, O.B. van.

    1997-01-01

    The DOE accelerator contractors have been discussing among themselves and with the Department how to improve radiation safety risk management. This activity-how to assure prevention of unplanned high exposures-is separate from normal exposure management, which historically has been quite successful. The ad-hoc Committee on the Accelerator Safety Order and Guidance [CASOG], formed by the Accelerator Section of the HPS, has proposed a risk- based approach, which will be discussed. Concepts involved are risk quantification and comparison (including with non-radiation risk), passive and active (reacting) protection systems, and probabilistic analysis. Different models of risk management will be presented, and the changing regulatory environment will also be discussed

  15. Risk perception as a driver for risk management policies

    Science.gov (United States)

    Carmona, María; Mañez, María

    2016-04-01

    Risk is generally defined as the "combination of the probability of the occurrence of an event and its negative consequences" ( UNISDR, 2009). However, the perception of a risk differs among cultures regarding different features such as the context,causes, benefits or damage. Risk perception is the subjective valuation of the probability of an event happening and how concerned individuals or groups are with the consequences (Sjöberg, 2004). Our study is based on an existing framework for risk perception (Rehn and Rohrmann, 2000). We analyse the characteristics of the risk perception regarding extreme events (e.g.droughts) and how the perception of the group drives the action to manage the risk. We do this to achieve an overview of the conditions that let stakeholders join each other to improve risk management especially when governments are not reacting properly. For our research, attention is paid on risk perception of Multi-Sector Partnerships not taking into account the individual level of risk perception. We focus on those factors that make risk management effective and increase resilience. Multi-Sector Partnerships, considered as significant governance structures for risk management, might contribute to reduce vulnerability in prone areas to natural hazards and disasters. The Multi-Sector Partnerships used for our research are existing partnerships identified in the cases studies of the European project ENHANCE. We implement a survey to analyse the perception of risk in the case studies. That survey is based on the Cultural Theory (Douglas and Wildavsky, 1982)and the Protection Motivation Theory (Rogers, 1975). We analyse the results using the Qualitative-Comparative Analysis proposed by Ragin in 1987. The results show the main characteristics of a risk culture that are beneficial to manage a risk. Those characteristics are shaped by the perception of risk of the people involved in the partnership, which in turn shapes their risk management. Nevertheless, we

  16. Subsea pipeline operational risk management

    Energy Technology Data Exchange (ETDEWEB)

    Bell, R.L.; Lanan, G.A.

    1996-12-31

    Resources used for inspection, maintenance, and repair of a subsea pipeline must be allocated efficiently in order to operate it in the most cost effective manner. Operational risk management aids in resource allocation through the use of risk assessments and cost/benefit analyses. It identifies those areas where attention must be focused in order to reduce risk. When they are identified, a company`s resources (i.e., personnel, equipment, money, and time) can then be used for inspection, maintenance, and/or repair of the pipeline. The results are cost effective risk reduction and pipeline operation with minimum expenditure.

  17. COORDINATES OF A RISK MANAGEMENT PROJECT

    OpenAIRE

    ALEXANDRU OLTEANU; MĂDĂLINA ANTOANETA RĂDOI

    2013-01-01

    High risk – high benefit: a well-known correlation both in the economic field and in the day-to-day life. Another correlation, on which this article is based: large project – numerous participants – increased risks and other malfunctions. The risk management concept is challenged by those projects and is forced to find the most adequate “customized” ways for each project at its turn. In this respect, the assessment of management has followed the trend of the last three decades, marked by movi...

  18. Risk Management in the Exchange Fund Account

    OpenAIRE

    Michel Rochette

    2002-01-01

    In this article, author Michel Rochette of the Bank's Risk-Management Unit briefly describes the initiatives undertaken to identify, analyze, model, and manage the principal risks inherent in the transactions of the Exchange Fund Account (EFA), where the international reserves of the federal government are held. The author focuses on five types of risk: credit risk, market risk, liquidity risk, operational risk, and legal risk. In addition, the author presents the risk-management principles u...

  19. Managing nuclear supplier risks

    International Nuclear Information System (INIS)

    Ramberg, B.

    1990-01-01

    This paper reports that with the appearance of such third-tier suppliers as Argentina, Brazil, South Korea, Taiwan, China, and others capable of producing nuclear components and sensitive nuclear materials, assurance that importers are using nuclear energy benignly and safely may become more uncertain. It is therefore important to integrate emerging exporters and importers into a regime of norms designed to minimize nuclear risks. The experience of the London Nuclear Suppliers Group (NSG) to arrive at a code of conduct is encouraging. Placed in the context of the larger evolving nuclear energy regime that seeks to address nuclear safety, proliferation, terrorism, and military attacks on reactors, the international community has made substantial progress. Still, there is much that remains to be done

  20. Risk factor based investing:case: MSCI risk factor indices

    OpenAIRE

    Pieskä, J. (Jukka)

    2016-01-01

    Abstract The aim of this thesis is to study risk factor based investing and test how well MSCI constructs their risk factor based indices. Risk factor based investing has gained a lot of media exposure in the recent years and “Smart Beta” products are becoming more popular. Blackrock estimated that there are more than 700 exchange traded products available and they have over $ 529 billion in assets under management. Risk fa...

  1. Cost-effectiveness of a nurse-led internet-based vascular risk factor management programme : Economic evaluation alongside a randomised controlled clinical trial

    NARCIS (Netherlands)

    Greving, J. P.; Kaasjager, H. A H; Vernooij, J.W.P.; Hovens, M. M C; Wierdsma, J.; Grandjean, H. M H; Van Der Graaf, Y.; De Wit, G. A.; Visseren, F. L J

    2015-01-01

    Objective: To assess the cost-effectiveness of an internet-based, nurse-led vascular risk factor management programme in addition to usual care compared with usual care alone in patients with a clinical manifestation of a vascular disease. Design: Cost-effectiveness analysis alongside a randomised

  2. Methodology of environmental risk assessment management

    Directory of Open Access Journals (Sweden)

    Saša T. Bakrač

    2012-04-01

    Full Text Available Successful protection of environment is mostly based on high-quality assessment of potential and present risks. Environmental risk management is a complex process which includes: identification, assessment and control of risk, namely taking measures in order to minimize the risk to an acceptable level. Environmental risk management methodology: In addition to these phases in the management of environmental risk, appropriate measures that affect the reduction of risk occurrence should be implemented: - normative and legal regulations (laws and regulations, - appropriate organizational structures in society, and - establishing quality monitoring of environment. The emphasis is placed on the application of assessment methodologies (three-model concept, as the most important aspect of successful management of environmental risk. Risk assessment methodology - European concept: The first concept of ecological risk assessment methodology is based on the so-called European model-concept. In order to better understand this ecological risk assessment methodology, two concepts - hazard and risk - are introduced. The European concept of environmental risk assessment has the following phases in its implementation: identification of hazard (danger, identification of consequences (if there is hazard, estimate of the scale of consequences, estimate of consequence probability and risk assessment (also called risk characterization. The European concept is often used to assess risk in the environment as a model for addressing the distribution of stressors along the source - path - receptor line. Risk assessment methodology - Canadian concept: The second concept of the methodology of environmental risk assessment is based on the so-called Canadian model-concept. The assessment of ecological risk includes risk arising from natural events (floods, extreme weather conditions, etc., technological processes and products, agents (chemical, biological, radiological, etc

  3. Obstetrics Hospitalists: Risk Management Implications.

    Science.gov (United States)

    Veltman, Larry

    2015-09-01

    The concept of having an in-house obstetrician (serving as an obstetrics [OB] hospitalist) available 24 hours a day, 7 days a week provides a safety net for OB events that many need immediate intervention for a successful outcome. A key precept of risk management, that of loss prevention, fits perfectly with the addition of an OB hospitalist role in the perinatal department. Inherent in the role of OB hospitalists are the patient safety and risk management principles of improved communication, enhanced readiness, and immediate availability. Copyright © 2015 Elsevier Inc. All rights reserved.

  4. Risk Management Concepts and Guidance

    Science.gov (United States)

    1989-03-01

    Baillie, Allan S., "Management of Risk and Uncertainty," Research Management, Vol. 23, No. 2, March 1980, pp. 20-24. 34. Banash, Robert C., and...Monterey), 1974. 106. Edgar , J.D., LTC USAF, "Controlling Murphy: How to Budget for Program Risk, Concepts," - The Journal of Defense Systems...Secretary of Defense (OSD), 5-57 Point Cost Estimate ( POE ), 5-39 thru 5-43 OPERA, 5-33 Polaris Submarine Program, 5-29 Operating Cost, 5-35, 5-59, 6

  5. Risk management in waste water treatment.

    Science.gov (United States)

    Wagner, M; Strube, I

    2005-01-01

    With the continuous restructuring of the water market due to liberalisation, privatisation and internationalisation processes, the requirements on waste water disposal companies have grown. Increasing competition requires a target-oriented and clearly structured procedure. At the same time it is necessary to meet the environment-relevant legal requirements and to design the processes to be environment-oriented. The implementation of risk management and the integration of such a management instrument in an existing system in addition to the use of modern technologies and procedures can help to make the operation of the waste water treatment safer and consequently strengthen market position. The risk management process consists of three phases, risk identification, risk analysis/risk assessment and risk handling, which are based on each other, as well as of the risk managing. To achieve an identification of the risks as complete as possible, a subdivision of the kind of risks (e.g. legal, financial, market, operational) is suggested. One possibility to assess risks is the portfolio method which offers clear representation. It allows a division of the risks into classes showing which areas need handling. The determination of the appropriate measures to handle a risk (e.g. avoidance, reduction, shift) is included in the concluding third phase. Different strategies can be applied here. On the one hand, the cause-oriented strategy, aiming at preventive measures which aim to reduce the probability of occurrence of a risk (e.g. creation of redundancy, systems with low susceptibility to malfunction). On the other hand, the effect-oriented strategy, aiming to minimise the level of damage in case of an undesired occurrence (e.g. use of alarm systems, insurance cover).

  6. Lessons Learned in Risk Management on NCSX

    International Nuclear Information System (INIS)

    Neilson, G.H.; Gruber, C.O.; Harris, Jeffrey H.; Rej, D.J.; Simmons, R.T.; Strykowsky, R.L.

    2010-01-01

    The National Compact Stellarator Experiment (NCSX) was designed to test physics principles of an innovative stellarator design developed by Princeton Plasma Physics Laboratory and Oak Ridge National Laboratory. Construction of some of the major components and subassemblies was completed, but the estimated cost and schedule for completing the project grew as the technical requirements and risks became better understood, leading to its cancellation in 2008. The project's risks stemmed from its technical challenges, primarily the complex component geometries and tight tolerances that were required. The initial baseline, which was established in 2004, was supported by a risk management plan and risk-based contingencies, both of which proved to be inadequate. Technical successes were achieved in the construction of challenging components and subassemblies, but cost and schedule growth was experienced. As part of an effort to improve project performance, a new risk management program was devised and implemented in 2007-2008. It led to a better understanding of project risks, a sounder basis for contingency estimates, and improved management tools. Although the risks were ultimately unacceptable to the sponsor, valuable lessons in risk management were learned through the experiences with the NCSX project.

  7. Lessons Learned in Risk Management on NCSX

    International Nuclear Information System (INIS)

    Neilson, G.H.; Gruber, C.O.; Harris, J.H.; Rej, D.J.; Simmons, R.T.; Strykowsky, R.L.

    2009-01-01

    The National Compact Stellarator Experiment (NCSX) was designed to test physics principles of an innovative stellarator design developed by the Princeton Plasma Physics Laboratory and Oak Ridge National Laboratory. Construction of some of the major components and sub-assemblies was completed, but the estimated cost and schedule for completing the project grew as the technical requirements and risks became better understood, leading to its cancellation in 2008. The project's risks stemmed from its technical challenges, primarily the complex component geometries and tight tolerances that were required. The initial baseline, established in 2004, was supported by a risk management plan and risk-based contingencies, both of which proved to be inadequate. Technical successes were achieved in the construction of challenging components and subassemblies, but cost and schedule growth was experienced. As part of an effort to improve project performance, a new risk management program was devised and implemented in 2007-08. It led to a better understanding of project risks, a sounder basis for contingency estimates, and improved management tools. Although the risks ultimately were unacceptable to the sponsor, valuable lessons in risk management were learned through the experiences with the NCSX project

  8. 12 CFR 917.3 - Risk management.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Risk management. 917.3 Section 917.3 Banks and Banking FEDERAL HOUSING FINANCE BOARD GOVERNANCE AND MANAGEMENT OF THE FEDERAL HOME LOAN BANKS POWERS AND RESPONSIBILITIES OF BANK BOARDS OF DIRECTORS AND SENIOR MANAGEMENT § 917.3 Risk management. (a) Risk management...

  9. EFFECTIVE RISK MANAGEMENT IN MODERN INDUSTRIAL ...

    African Journals Online (AJOL)

    for effective risk management, repudiating a unilateral decision by the .... Classical Risk Management in Industrial Organizations .... Culture theory in risk management perceives risk as socially structured and influenced by people's everyday interaction with family, friends and peers so that a person's response to risk ...

  10. [Screening and management of cardiovascular risk factors in systemic lupus erythematosus: Recommendations for clinical practice based on the literature and expert opinion].

    Science.gov (United States)

    Arnaud, L; Mathian, A; Adoue, D; Bader-Meunier, B; Baudouin, V; Belizna, C; Bonnotte, B; Boumedine, F; Chaib, A; Chauchard, M; Chiche, L; Daugas, E; Ghali, A; Gobert, P; Gondran, G; Guettrot-Imbert, G; Hachulla, E; Hamidou, M; Haroche, J; Hervier, B; Hummel, A; Jourde-Chiche, N; Korganow, A-S; Kwon, T; Le Guern, V; Le Quellec, A; Limal, N; Magy-Bertrand, N; Marianetti-Guingel, P; Martin, T; Martin Silva, N; Meyer, O; Miyara, M; Morell-Dubois, S; Ninet, J; Papo, T; Pennaforte, J-L; Polomat, K; Pourrat, J; Queyrel, V; Raymond, I; Remy, P; Sacre, K; Schmidt, J; Sibilia, J; Viallard, J-F; Viau Brabant, A; Wahl, D; Bruckert, E; Amoura, Z

    2015-06-01

    To develop French recommendations about screening and management of cardiovascular risk factors in systemic lupus erythematosus (SLE). Thirty-nine experts qualified in internal medicine, rheumatology and nephrology have selected recommendations from a list developed based on evidence from the literature. For each recommendation, the level of evidence and the level of agreement among the experts were specified. Experts recommended an annual screening of cardiovascular risk factors in SLE. Statins should be prescribed for primary prevention in SLE patients based on the level of LDL-cholesterol and the number of cardiovascular risk factors, considering SLE as an additional risk factor. For secondary prevention, experts have agreed on an LDL-cholesterol target of system blockers as first line agents in case of renal involvement. Aspirin can be prescribed in patients with high cardiovascular risk or with antiphospholipid antibodies. These recommendations about the screening and management of cardiovascular risk factors in SLE can be expected to improve clinical practice uniformity and, in the longer term, to optimize the management of SLE patients. Copyright © 2014 Société nationale française de médecine interne (SNFMI). Published by Elsevier SAS. All rights reserved.

  11. A view on risk management

    International Nuclear Information System (INIS)

    Joksimovich, V.

    1991-01-01

    The world at large has enjoyed the benefits of industrial technology for almost two centuries. The managers of industrial facilities as well as members of the public focused on the benefits and typically ignored or underestimated the inherent risks entailed in deployment of these technologies. Two examples will be given for the sake of illustration. In the chemical industry, the impacts of various chemicals on humans are insufficiently understood. In addition, it was not even known that some hazardous chemicals could be formed in the chemical reactions taking place in various chemical reactors. This is equivalent to not knowing that Cesium-iodide compound can be formed within nuclear fuel nor the impact it might have on humans if released, which is inconceivable in the nuclear industry. In the era of risk recognition, many industrial managers proclaimed that safety is everybody's business. The basic premise behind this was that since everyone is responsible, no one can be blamed for accidents. This is, however, shifting because both economics and litigation are now compelling industrial managers to consider risk in conjunction with the benefit. The government managers in many cases interpreted their charter to reap benefits first and pay the price of risks later; e.g., the case of nuclear weapons production facilities seriously contaminated by radioactive and other hazardous materials. Cost of clean-up was estimated at more than $100 billion. Of course, the authors have similar examples in many other industries, e.g., Superfund project of chemical waste sites. The challenge for the technologists is to maximize the benefit/risk ratio, keeping the risks, real or perceived, acceptably small. This brings us to the issue of acceptable risks, the topic of this paper

  12. Risk-informed profitability-based analysis support of nuclear power station balance-of-plant change management

    International Nuclear Information System (INIS)

    Liming, J.K.; Kee, E.J.; Grantom, C.R.; Richards, A.M.

    2001-01-01

    In this paper, a three-phased method is proposed for the STP Nuclear Operating Company (STPNOC) Risk and Reliability Analysis Section (RRA) to perform analyses and decision-making support for the STPNOC Balance-of-Plant (BOP)Task Force in managing change to simultaneously optimize plant safety and maximize long-term return-on-asset (or profitability) for the South Texas Project Electric Generating Station (STPEGS). (authors)

  13. Risk-informed profitability-based analysis support of nuclear power station balance-of-plant change management

    Energy Technology Data Exchange (ETDEWEB)

    Liming, J.K. [EQE International, Inc., An ABS Group Company, Irvine, CA (United States); Kee, E.J.; Grantom, C.R.; Richards, A.M. [STP Nuclear Operating Company, Wadsworth, TX (United States)

    2001-07-01

    In this paper, a three-phased method is proposed for the STP Nuclear Operating Company (STPNOC) Risk and Reliability Analysis Section (RRA) to perform analyses and decision-making support for the STPNOC Balance-of-Plant (BOP)Task Force in managing change to simultaneously optimize plant safety and maximize long-term return-on-asset (or profitability) for the South Texas Project Electric Generating Station (STPEGS). (authors)

  14. Desertification risk assessment and management program

    Directory of Open Access Journals (Sweden)

    M. Akbari

    2016-12-01

    Full Text Available Risk assessment provides the possibility of planning and management to prevent and reduce the risk of desertification. The present study is aimed to assess the hazard and risk of desertification and to develop management programs in the semi-arid western regions of Golestan Province in Iran. Desertification rate was obtained using the Iranian model of desertification potential assessment. Since the rating system was considered for the indicators, data analyses were carried out according to the Mann-Whitney test. The risk of desertification was calculated based on hazard, elements at risk and vulnerability assessment maps. The intensity of desertification was estimated to be medium. Among the factors affecting desertification, agriculture by the weighted average of 3.22 had the highest effect, followed by soil, vegetation, water and wind erosion criteria by weighted averages of 2.45, 2.32, 2.15 and 1.6 respectively. Desertification risk assessment results also showed that about 78% of central and northern parts of the region, with the largest population and residential centers, surface and underground water resources, agriculture and horticulture, is confronted with a high to very high degree of risk. Management plans and control measures, based on risk values were presented in four activities (with two management priorities under critical and non-critical conditions. For the management program with the largest area. Control measures and strategies such as the establishment of halophytic and xerophytic plants, drainage networks, resilient facilities and infrastructure were proposed. Reducing the risk of desertification, could play a crucial role in the sustainable development of drylands and desert ecosystems.

  15. COORDINATES OF A RISK MANAGEMENT PROJECT

    Directory of Open Access Journals (Sweden)

    ALEXANDRU OLTEANU

    2013-05-01

    Full Text Available High risk – high benefit: a well-known correlation both in the economic field and in the day-to-day life. Another correlation, on which this article is based: large project – numerous participants – increased risks and other malfunctions. The risk management concept is challenged by those projects and is forced to find the most adequate “customized” ways for each project at its turn. In this respect, the assessment of management has followed the trend of the last three decades, marked by moving of management profit analysis by risk intermediation, respectively the transition from managing profit to risk-return relationship management. Such trend assumes the obligation of participants to identify objectives and expected benefits of the project on the basis of the strategies laid-down, the elements of risk management policies, in conjunction with the indication of the most negative scenarios which they may provide. This activity must take into consideration the process of obtaining and combining human, financial, physical and information resources in order to accomplish the primary goal of the proposed and wanted project by a certain segment of population. Project participants are directed to evaluate their own activities in terms of revenues and risks from the business access, opportunity, operating mode, as well as the limitations and boundaries on certain sides of activity. The paper focuses on the analysis and evaluation of incomes and risks, on simulations to streamline the activities and the determination of the optimal model of project choice. Also, the paper treats the risks that can be taken over by the sponsors, especially those related to implied guaranties, even implied guaranties.

  16. Risk management at GPU Nuclear

    International Nuclear Information System (INIS)

    Long, R.L.

    1991-01-01

    This paper reports on GPU Nuclear. Among other goals, it established the independence of key safety functions as highlighted by the lessons learned from the accident. In particular, an independent Nuclear Assurance Division was established which include Quality Assurance, Training and Education, Emergency Preparedness, and Nuclear Safety Assessment. The latter consisted of corporate and site independent-safety-review groups. As the GPU Nuclear organization matured, a mid-1987 reorganization created an even more focused Planning and Nuclear Safety Division bringing together Nuclear Safety Assessment with Licensing and Regulatory Affairs and Risk Management. The Risk Management Group (RMG), which began its work in fall 1987, was formed to develop a framework for proactive identification, evaluation, and cost-effective reduction and management of risks of all types. The RMG set out to learn as much as possible about risks and their management in nuclear and other high-technology industries. This began with a thorough literature search. It progressed to interviews with individuals and organizations which have demonstrated innovative ideas, experience, and reputations for safe and reliable operation

  17. CEA: assessment of risk management 2011

    International Nuclear Information System (INIS)

    2012-06-01

    This report proposes an overview of CEA activities in the field of risk management in different areas: impact on the environment, installation safety, management of occupational risks (occupational health and safety), radiological protection of workers, transportation of hazardous materials, waste management, protection of sites, installations and heritage, management of emergency situations, management of law risks, controls and audits. It finally presents the risk management department

  18. Risk management in a university environment.

    Science.gov (United States)

    Brewer, Ann; Walker, Ian

    2011-06-01

    Risk is an integral part of quality assurance in higher education in Australia. This paper describes a generic methodology for the identification and management of risk in a university or similar tertiary education environment and outlines a framework that enables the management of risk to be incorporated in the institution's governance cycle. The new approach here is that risk is embedded in the quality assurance framework and, in turn, in the strategic planning and budgeting processes. In many organisations, risk is implemented as a separate process and not considered in any meaningful way as integral to the strategic direction and performance of the university. The paper is based on work carried out by the authors and others between March 2008 and April 2009 to develop a comprehensive system for managing risk in a major Australian university, including processes whereby risk management could be integrated with, and add value to, the overall governance of the university. The case study is described in the appendix to this paper.

  19. Tank waste remediation system risk management plan

    International Nuclear Information System (INIS)

    Zimmerman, B.D.

    1998-01-01

    The purpose of the Tank Waste Remediation System (TWRS) Risk Management Plan is to describe a consistent approach to risk management such that TWRS Project risks are identified and managed to achieve TWRS Project success. The Risk Management Plan implements the requirements of the Tank Waste Remediation System Systems Engineering Management Plan in the area of risk management. Figure ES-1 shows the relationship of the TWRS Risk Management Plan to other major TWRS Project documents. As the figure indicates, the Risk Management Plan is a tool used to develop and control TWRS Project work. It provides guidance on how TWRS Project risks will be assessed, analyzed, and handled, and it specifies format and content for the risk management lists, which are a primary product of the risk management process. In many instances, the Risk Management Plan references the TWRS Risk Management Procedure, which provides more detailed discussion of many risk management activities. The TWRS Risk Management Plan describes an ongoing program within the TWRS Project. The Risk Management Plan also provides guidance in support of the TWRS Readiness To-Proceed (RTP) assessment package

  20. Coastal Risk Management in a Changing Climate

    DEFF Research Database (Denmark)

    Burcharth, Hans F.; Zanuttigh, Barbara; Andersen, Thomas Lykke

    2014-01-01

    Existing coastal management and defense approaches are not well suited to meet the challenges of climate change and related uncertanities. Professionals in this field need a more dynamic, systematic and multidisciplinary approach. Written by an international group of experts, Coastal Risk...... Management in a Changing Climate provides innovative, multidisciplinary best practices for mitigating the effects of climate change on coastal structures. Based on the Theseus program, the book includes eight study sites across Europe, with specific attention to the most vulnerable coastal environments...

  1. Reducing the risk, managing safety.

    Science.gov (United States)

    Aldridge, Peter

    2016-02-01

    Fire safety in healthcare premises has always been a challenge to those that discharge this duty. Statutory compliance should be a matter of course, but in an ever increasingly challenged NHS, even this is not a given. While the NHS is driven by managing very complex risk to deliver cutting edge healthcare, providers cannot be risk averse. Which risk, however, takes priority? Here Peter Aldridge, fire and corporate services manager at Leeds Teaching Hospitals NHS Trust, and Secretary to the National Association of Healthcare Fire Officers (NAHFO)--which will this month and next jointly stage fire safety seminars with IHEEM; see page 8--considers the key issues, with input from a fire officer at a leading mental health and community Trust.

  2. The NASA Continuous Risk Management Process

    Science.gov (United States)

    Pokorny, Frank M.

    2004-01-01

    As an intern this summer in the GRC Risk Management Office, I have become familiar with the NASA Continuous Risk Management Process. In this process, risk is considered in terms of the probability that an undesired event will occur and the impact of the event, should it occur (ref., NASA-NPG: 7120.5). Risk management belongs in every part of every project and should be ongoing from start to finish. Another key point is that a risk is not a problem until it has happened. With that in mind, there is a six step cycle for continuous risk management that prevents risks from becoming problems. The steps are: identify, analyze, plan, track, control, and communicate & document. Incorporated in the first step are several methods to identify risks such as brainstorming and using lessons learned. Once a risk is identified, a risk statement is made on a risk information sheet consisting of a single condition and one or more consequences. There can also be a context section where the risk is explained in more detail. Additionally there are three main goals of analyzing a risk, which are evaluate, classify, and prioritize. Here is where a value is given to the attributes of a risk &e., probability, impact, and timeframe) based on a multi-level classification system (e.g., low, medium, high). It is important to keep in mind that the definitions of these levels are probably different for each project. Furthermore the risks can be combined into groups. Then, the risks are prioritized to see what risk is necessary to mitigate first. After the risks are analyzed, a plan is made to mitigate as many risks as feasible. Each risk should be assigned to someone in the project with knowledge in the area of the risk. Then the possible approaches to choose from are: research, accept, watch, or mitigate. Next, all risks, mitigated or not, are tracked either individually or in groups. As the plan is executed, risks are re-evaluated, and the attribute values are adjusted as necessary. Metrics

  3. Debris-flow risk analysis in a managed torrent based on a stochastic life-cycle performance

    Energy Technology Data Exchange (ETDEWEB)

    Ballesteros Cánovas, J.A., E-mail: juan.ballesteros@dendrolab.ch [Dendrolab.ch. Institute for Geological Sciences, University of Bern, Baltzerstrasse 1 + 3, CH-3012 Bern (Switzerland); Climate Change an Climate Impacts (C3i) Institute for Environmental Sciences, University of Geneva, 66 Boulevard Carl-Vogt, CH-1205 Geneva (Switzerland); Stoffel, M. [Dendrolab.ch. Institute for Geological Sciences, University of Bern, Baltzerstrasse 1 + 3, CH-3012 Bern (Switzerland); Climate Change an Climate Impacts (C3i) Institute for Environmental Sciences, University of Geneva, 66 Boulevard Carl-Vogt, CH-1205 Geneva (Switzerland); Department of Earth Sciences, University of Geneva, 13 rue des Maraîchers, CH-1205 Geneva (Switzerland); Corona, C. [Centre National de la Recherche Scientifique (CNRS) UMR6042 Geolab, 4 rue Ledru, F-63057 Clermont-Ferrand Cedex (France); Schraml, K. [Institute for Alpine Hazards, University of Natural Resources and Life Sciences, Vienna (BOKU), A-1190 Vienna (Austria); Gobiet, A. [University of Graz, Wegener Center for Climate and Global Change (WegCenter), A-8010 Graz (Austria); Central Office for Meteorology and Geodynamics (ZAMG), A-1190 Vienna (Austria); Tani, S. [University of Graz, Wegener Center for Climate and Global Change (WegCenter), A-8010 Graz (Austria); Sinabell, F. [Austrian Institute of Economic Research, A-1030 Vienna (Austria); Fuchs, S.; Kaitna, R. [Institute for Alpine Hazards, University of Natural Resources and Life Sciences, Vienna (BOKU), A-1190 Vienna (Austria)

    2016-07-01

    Two key factors can affect the functional ability of protection structures in mountains torrents, namely (i) infrastructure maintenance of existing infrastructures (as a majority of existing works is in the second half of their life cycle), and (ii) changes in debris-flow activity as a result of ongoing and expected future climatic changes. Here, we explore the applicability of a stochastic life-cycle performance to assess debris-flow risk in the heavily managed Wartschenbach torrent (Lienz region, Austria) and to quantify associated, expected economic losses. We do so by considering maintenance costs to restore infrastructure in the aftermath of debris-flow events as well as by assessing the probability of check dam failure (e.g., as a result of overload). Our analysis comprises two different management strategies as well as three scenarios defining future changes in debris-flow activity resulting from climatic changes. At the study site, an average debris-flow frequency of 21 events per decade was observed for the period 1950–2000; activity at the site is projected to change by + 38% to − 33%, according to the climate scenario used. Comparison of the different management alternatives suggests that the current mitigation strategy will allow to reduce expected damage to infrastructure and population almost fully (89%). However, to guarantee a comparable level of safety, maintenance costs is expected to increase by 57–63%, with an increase of maintenance costs by ca. 50% for each intervention. Our analysis therefore also highlights the importance of taking maintenance costs into account for risk assessments realized in managed torrent systems, as they result both from progressive and event-related deteriorations. We conclude that the stochastic life-cycle performance adopted in this study represents indeed an integrated approach to assess the long-term effects and costs of prevention structures in managed torrents. - Highlights: • Debris flows are considered

  4. Calibration of dentists for Caries Management by Risk Assessment Research in a Practice Based Research Network - CAMBRA PBRN.

    Science.gov (United States)

    Rechmann, Peter; Jue, Bonnie; Santo, William; Rechmann, Beate M T; Featherstone, John D B

    2018-01-04

    To prove that Caries Management by Risk Assessment (CAMBRA) can be successfully implemented in dental practices outside of the university setting, dentists in the San Francisco Bay Area (CA) were approached to participate in a Practice Based Research Network (PBRN) study. The overall goal of the CAMBRA-PBRN study was to recruit 30 dentists to perform a two-year study involving approximately 900 patients. Goal of the calibration study was to standardize and calibrate dentists potentially participating in the CAMBRA-PBRN study. To minimize inter-examiner variability in data collection, including classification of carious lesions and recording of existing restorations, participating dentists were trained and calibrated in accurate DMFS (decayed, missing, filled surfaces) charting. Dentists were also trained and calibrated to diagnose and differentiate between sound surfaces and non-cavitated caries lesions (International Caries Detection and Assessment - ICDAS scores 1 and 2) for posterior occlusal surfaces. Thirty dentists were calibrated to a single gold standard examiner (BJ) during 6 calibration sessions, between 2011 and 2014. Kappa statistics were used to determine inter-examiner reliability on 13 or more patients, aged 12-63 (average age 38 ± 15 years), per examiner during each session, resulting in 94 patient encounters over the course of all 6 sessions. To participate in the main study, examiners needed to achieve a minimum required kappa of 0.75. During the calibration process, examiners scored between 1036 and 2220 tooth surfaces. The kappa values (unweighted kappa) of the participating dentists compared to the gold standard examiner ranged from 0.75 to 0.90, with an average kappa of 0.84 ± 0.03. 90% of the examiners achieved overall kappa values above 0.8. However, separate reliability for assessment of non-cavitated lesions, as in other studies, was lower (0.55 ± 0.15). Multiple subcategories were evaluated. All dentists reached sufficient

  5. Overview of the Hanford risk management plan

    Energy Technology Data Exchange (ETDEWEB)

    Halverson, T.G.

    1998-03-26

    The Project Hanford Management Contract called for the enhancement of site-wide decision processes, and development of a Hanford Risk Management Plan to adopt or develop a risk management system for the Hanford Site. This Plan provides a consistent foundation for Site issues and addresses site-wide management of risks of all types. It supports the Department of Energy planning and sitewide decision making policy. Added to this requirement is a risk performance report to characterize the risk management accomplishments. This paper presents the development of risk management within the context of work planning and performance. Also discussed are four risk elements which add value to the context.

  6. Overview of the Hanford risk management plan

    International Nuclear Information System (INIS)

    Halverson, T.G.

    1998-01-01

    The Project Hanford Management Contract called for the enhancement of site-wide decision processes, and development of a Hanford Risk Management Plan to adopt or develop a risk management system for the Hanford Site. This Plan provides a consistent foundation for Site issues and addresses site-wide management of risks of all types. It supports the Department of Energy planning and sitewide decision making policy. Added to this requirement is a risk performance report to characterize the risk management accomplishments. This paper presents the development of risk management within the context of work planning and performance. Also discussed are four risk elements which add value to the context

  7. Risk assessment and management of brucellosis in the southern greater Yellowstone area (I): A citizen-science based risk model for bovine brucellosis transmission from elk to cattle.

    Science.gov (United States)

    Kauffman, Mandy; Peck, Dannele; Scurlock, Brandon; Logan, Jim; Robinson, Timothy; Cook, Walt; Boroff, Kari; Schumaker, Brant

    2016-09-15

    Livestock producers and state wildlife agencies have used multiple management strategies to control bovine brucellosis in the Greater Yellowstone Area (GYA). However, spillover from elk to domestic bison and cattle herds continues to occur. Although knowledge is increasing about the location and behavior of elk in the SGYA, predicting spatiotemporal overlap between elk and cattle requires locations of livestock operations and observations of elk contact by producers. We queried all producers in a three-county area using a questionnaire designed to determine location of cattle and whether producers saw elk comingle with their animals. This information was used to parameterize a spatially-explicit risk model to estimate the number of elk expected to overlap with cattle during the brucellosis transmission risk period. Elk-cattle overlap was predicted in areas further from roads and forest boundaries in areas with wolf activity, with higher slopes, lower hunter densities, and where the cost-distance to feedgrounds was very low or very high. The model was used to estimate the expected number of years until a cattle reactor will be detected, under alternative management strategies. The model predicted cattle cases every 4.28 years in the highest risk herd unit, a higher prediction than the one case in 26 years we have observed. This difference likely indicates that ongoing management strategies are at least somewhat effective in preventing potential elk-cattle brucellosis transmission in these areas. Using this model, we can infer the expected effectiveness of various management strategies for reducing the risk of brucellosis spillover from elk to cattle. Copyright © 2016 Elsevier B.V. All rights reserved.

  8. Economic optimisation of flood risk management projects

    NARCIS (Netherlands)

    Tsimopoulou, V.

    2015-01-01

    The Netherlands has developed a flood risk management policy based on an economic rationale. After the flood disaster of 1953, when a large area of the south-western part of the country was flooded and more than 1800 people lost their lives, the so-called Delta Committee was installed, whose main

  9. Risk Management for e-Business

    Directory of Open Access Journals (Sweden)

    2007-01-01

    Full Text Available In the new Internet economy, risk management plays a critical role to protect the organization and its ability to perform their business mission, not just its IT assets. Risk management is the process of identifying risk, assessing risk, and taking steps to reduce risk to an acceptable level. The risk management is an important component of a IT security program. Information and communications technology management and IT security are responsible for ensuring that technology risks are managed appropriately. These risks originate from the deployment and use of IT assets in various ways, such as configuring systems incorrectly or gaining access to restricted software.

  10. Debris-flow risk analysis in a managed torrent based on a stochastic life-cycle performance.

    Science.gov (United States)

    Ballesteros Cánovas, J A; Stoffel, M; Corona, C; Schraml, K; Gobiet, A; Tani, S; Sinabell, F; Fuchs, S; Kaitna, R

    2016-07-01

    Two key factors can affect the functional ability of protection structures in mountains torrents, namely (i) infrastructure maintenance of existing infrastructures (as a majority of existing works is in the second half of their life cycle), and (ii) changes in debris-flow activity as a result of ongoing and expected future climatic changes. Here, we explore the applicability of a stochastic life-cycle performance to assess debris-flow risk in the heavily managed Wartschenbach torrent (Lienz region, Austria) and to quantify associated, expected economic losses. We do so by considering maintenance costs to restore infrastructure in the aftermath of debris-flow events as well as by assessing the probability of check dam failure (e.g., as a result of overload). Our analysis comprises two different management strategies as well as three scenarios defining future changes in debris-flow activity resulting from climatic changes. At the study site, an average debris-flow frequency of 21 events per decade was observed for the period 1950-2000; activity at the site is projected to change by +38% to -33%, according to the climate scenario used. Comparison of the different management alternatives suggests that the current mitigation strategy will allow to reduce expected damage to infrastructure and population almost fully (89%). However, to guarantee a comparable level of safety, maintenance costs is expected to increase by 57-63%, with an increase of maintenance costs by ca. 50% for each intervention. Our analysis therefore also highlights the importance of taking maintenance costs into account for risk assessments realized in managed torrent systems, as they result both from progressive and event-related deteriorations. We conclude that the stochastic life-cycle performance adopted in this study represents indeed an integrated approach to assess the long-term effects and costs of prevention structures in managed torrents. Copyright © 2016 Elsevier B.V. All rights reserved.

  11. Tank waste remediation system risk management list

    International Nuclear Information System (INIS)

    Collard, L.B.

    1995-01-01

    The Tank Waste Remedation System (TWRS) Risk Management List and it's subset of critical risks, the Critical Risk Management List, provide a tool to senior RL and WHC management (Level-1 and -2) to manage programmatic risks that may significantly impact the TWRS program. The programmatic risks include cost, schedule, and performance risks. Performance risk includes technical risk, supportability risk (such as maintainability and availability), and external risk (i.e., beyond program control, for example, changes in regulations). The risk information includes a description, its impacts, as evaluation of the likelihood, consequences and risk value, possible mitigating actions, and responsible RL and WHC managers. The issues that typically form the basis for the risks are presented in a separate table and the affected functions are provided on the management lists

  12. Risk Management Practices by Barbadian Banks

    Directory of Open Access Journals (Sweden)

    Anthony Wood

    2013-07-01

    The main findings of the paper are: risk managers perceive risk management as critical to their banks’ performance; the types of risks causing the greatest exposures are credit risk, operational risk, country/sovereign risk, interest rate risk and market risk; there was a high level of success with current risk management practices and these practices have evolved over time in line with the changing economic environment and regulatory updates. Overall, the findings suggest strongly that in light of the current depressed economic climate, banks operating in Barbados are indeed risk-focused or might we say “risk intelligent”.

  13. Adoption of Building Information Modelling in project planning risk management

    Science.gov (United States)

    Mering, M. M.; Aminudin, E.; Chai, C. S.; Zakaria, R.; Tan, C. S.; Lee, Y. Y.; Redzuan, A. A.

    2017-11-01

    An efficient and effective risk management required a systematic and proper methodology besides knowledge and experience. However, if the risk management is not discussed from the starting of the project, this duty is notably complicated and no longer efficient. This paper presents the adoption of Building Information Modelling (BIM) in project planning risk management. The objectives is to identify the traditional risk management practices and its function, besides, determine the best function of BIM in risk management and investigating the efficiency of adopting BIM-based risk management during the project planning phase. In order to obtain data, a quantitative approach is adopted in this research. Based on data analysis, the lack of compliance with project requirements and failure to recognise risk and develop responses to opportunity are the risks occurred when traditional risk management is implemented. When using BIM in project planning, it works as the tracking of cost control and cash flow give impact on the project cycle to be completed on time. 5D cost estimation or cash flow modeling benefit risk management in planning, controlling and managing budget and cost reasonably. There were two factors that mostly benefit a BIM-based technology which were formwork plan with integrated fall plan and design for safety model check. By adopting risk management, potential risks linked with a project and acknowledging to those risks can be identified to reduce them to an acceptable extent. This means recognizing potential risks and avoiding threat by reducing their negative effects. The BIM-based risk management can enhance the planning process of construction projects. It benefits the construction players in various aspects. It is important to know the application of BIM-based risk management as it can be a lesson learnt to others to implement BIM and increase the quality of the project.

  14. Electricity derivatives and risk management

    Energy Technology Data Exchange (ETDEWEB)

    Deng, S.J. [School of Industrial and Systems Engineering, Georgia Institute of Technology, Atlanta, GA 30332-0205 (United States); Oren, S.S. [Department of Industrial Engineering and Operations Research, University of California, Berkeley, CA 94720 (United States)

    2006-05-15

    Electricity spot prices in the emerging power markets are volatile, a consequence of the unique physical attributes of electricity production and distribution. Uncontrolled exposure to market price risks can lead to devastating consequences for market participants in the restructured electricity industry. Lessons learned from the financial markets suggest that financial derivatives, when well understood and properly utilized, are beneficial to the sharing and controlling of undesired risks through properly structured hedging strategies. We review different types of electricity financial instruments and the general methodology for utilizing and pricing such instruments. In particular, we highlight the roles of these electricity derivatives in mitigating market risks and structuring hedging strategies for generators, load serving entities, and power marketers in various risk management applications. Finally, we conclude by pointing out the existing challenges in current electricity markets for increasing the breadth, liquidity and use of electricity derivatives for achieving economic efficiency. (author)

  15. Enterprise risk management in international construction operations

    CERN Document Server

    Zhao, Xianbo; Low, Sui Pheng

    2015-01-01

    This book provides readers an understanding of the implementation of Enterprise Risk Management (ERM) for international construction operations. In an extended case study, it primarily focuses on Chinese construction firms (CCFs) based in Singapore. In this regard, the book explains the differences and similarities between Risk Management (RM), Project Risk Management (PRM) and ERM in the construction industry, and examines their linkages for international construction operations in a broader context. The explanation elaborates on how companies may adopt and implement RM, PRM and ERM as appropriate in their various operations, both in their home market as well as in overseas host markets. The book also reviews the whole spectrum of work relating to organizational behavior (OB) as one of the key underpinnings for companies to evaluate and implement ERM. It will benefit practitioners from the industry as well as academics interested in the implementation of ERM practices in international construction operat...

  16. BANK AUDITS AND RISK MANAGEMENT IN TURKEY

    Directory of Open Access Journals (Sweden)

    Ümit Gücenme GENÇOĞLU

    2011-01-01

    Full Text Available Banks are of vital importance in economies, because their bankruptcy leads to losses for millions of small savers. As a result, banks are closely audited all around the world. The prerequisite for a healthy economic system is the use of internal and external auditing and risk management in banks. In this study, the developments of internal and external audits in banking have been summarised according to regulations in Turkey and significant risks have been discussed in terms of bank management decisions and risk management. Additionally, Basel regulations and capital adequacy have been analysed and the problems that affect the banking sector in Turkey have been summarised. The aim of our study is to determine the current situation and this study is based on a literature and regulation review.

  17. Model of Axiological Dimension Risk Management

    Directory of Open Access Journals (Sweden)

    Kulińska Ewa

    2016-01-01

    Full Text Available It was on the basis of the obtained results that identify the key prerequisites for the integration of the management of logistics processes, management of the value creation process, and risk management that the methodological basis for the construction of the axiological dimension of the risk management (ADRM model of logistics processes was determined. By taking into account the contribution of individual concepts to the new research area, its essence was defined as an integrated, structured instrumentation aimed at the identification and implementation of logistics processes supporting creation of the value added as well as the identification and elimination of risk factors disturbing the process of the value creation for internal and external customers. The base for the ADRM concept of logistics processes is the use of the potential being inherent in synergistic effects which are obtained by using prerequisites for the integration of the management of logistics processes, of value creation and risk management as the key determinants of the value creation.

  18. Risk management methodology for RBMN project

    International Nuclear Information System (INIS)

    Borssatto, Maria F.B.; Tello, Cledola C.O.; Uemura, George

    2013-01-01

    RBMN Project has been developed to design, construct and commission a national repository to dispose the low- and intermediate-level radioactive wastes from the operation of nuclear power plants and other industries that use radioactive sources and materials. Risk is a characteristic of all projects. The risks arise from uncertainties due to assumptions associated with the project and the environment in which it is executed. Risk management is the method by which these uncertainties are systematically monitored to ensure that the objectives of the project will be achieved. Considering the peculiarities of the Project, that is, comprehensive scope, multidisciplinary team, apparently polemic due to the unknowing of the subject by the stake holders, especially the community, it is being developed a specific methodology for risk management of this Project. This methodology will be critical for future generations who will be responsible for the final stages of the repository. It will provide greater guarantee to the processes already implemented and will maintain a specific list of risks and solutions for this Project, ensuring safety and security of the repository throughout its life cycle that is the planned to last at least three hundred years. This paper presents the tools and processes already defined, management actions aimed at developing a culture of proactive risk in order to minimize threats to this Project and promote actions that bring opportunities to its success. The methodology is based on solid research on the subject, considering methodologies already established and globally recognized as best practices for project management. (author)

  19. 42 CFR 441.476 - Risk management.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 4 2010-10-01 2010-10-01 false Risk management. 441.476 Section 441.476 Public... Self-Directed Personal Assistance Services Program § 441.476 Risk management. (a) The State must... plan for how identified risks will be mitigated. (d) The State must ensure that the risk management...

  20. The complete idiot's guide to risk management

    CERN Document Server

    Cortez, Annetta

    2010-01-01

    Risk. It's what business is all about. The key to success is to anticipating and managing the risks that can impact business. The Complete Idiot's Guide(r) to Risk Management provides the key information necessary to manage business risk successfully.

  1. Risk Management : History, Definition and Critique

    OpenAIRE

    Georges Dionne

    2013-01-01

    The study of risk management began after World War II. Risk management has long been associated with the use of market insurance to protect individuals and companies from various losses associated with accidents. Other forms of risk management, alternatives to market insurance, surfaced during the 1950s when market insurance was perceived as very costly and incomplete for protection against pure risk. The use of derivatives as risk management instruments arose during the 1970s, and expanded r...

  2. Normative engineering risk management systems

    International Nuclear Information System (INIS)

    Regan, P.J.; Pate-Cornell, M.E.

    1997-01-01

    This paper describes the design of a normative engineering risk management system that performs four activities: diagnosis, dynamic evolution, decision making, and information gathering. The problem domain can be represented as a partially-observable Markov decision process (POMDP). By decomposing the POMDP into a separate model for each of the four activities, the system enables highly asymmetric models to be tailored to a particular situation. Our goal is to construct a normative system that creates an accurate, concise decision model and that provides timely, reliable results. Conserved model components are constructed at design time whereas unique features are customized at run time. For run-time model components, human guidance is used sparingly to refine the decision model. Customized asymmetry is most extreme for information gathering. An application to the management of fire risks on board offshore oil platforms, with particular emphasis on gas leaks, illustrates the concepts

  3. Stakeholder Risk Management in Ethical Decision Making

    DEFF Research Database (Denmark)

    Lauesen, Linne Marie

    Stakeholder management has for the last three decades been concerned either with strategic business management or business ethics, values and quality. Many models have been developed, but recently the literature asks for more dynamic models instead of the staticism that characterizes some models....... This paper offers an ‘Organic Stakeholder Model’ based on decision making theory, risk assessment and adaption to a rapidly changing world combined with appropriate stakeholder theory for ethical purposes in decision making processes in businesses. The ‘Organic Stakeholder Model’ is based on empirical...... evidence from hybrid organizations as Publicly Owned Enterprises (POEs) mixed of private corporations and political administration. The model offers a new way of combining risk management with ethical decisionmaking processes by the inclusion of multiple stakeholders. Not only does the model apply...

  4. Strategies for psychosocial risk management in manufacturing

    OpenAIRE

    Guadix Martín, José; Carrillo Castrillo, Jesús Antonio; Onieva Giménez, Luis Gerardo; Lucena, David

    2015-01-01

    Psychosocial risk is a concern for employers across Europe. Psychosocial risk management, however, is younger than other risk management fields such as safety, hygiene, and ergonomics. Psychosocial risk control prevents accidents and absenteeism. This study examines strategies for psychosocial risk management in manufacturing organizations. The study employs structural equation modeling to analyze results of the European Survey of Enterprises onNewand Emerging Risks (ESENER), a survey that fi...

  5. Hanford Tanks Initiative risk management guide

    International Nuclear Information System (INIS)

    Schaus, P.S.

    1997-01-01

    This project-specific Risk Management Guide describes the general approach and process being used by the HTI Project to manage risk associated with execution of the HTI mission. It includes the initial identification of risk and the quantification of its likelihood and severity of its consequences. It further addresses the formulation of risk mitigation plans, periodic statusing of the Risk Management List, and risk closure

  6. Managing IT Integration Risk in Acquisitions

    DEFF Research Database (Denmark)

    Henningsson, Stefan; Kettinger, William J.

    2016-01-01

    The article discusses a framework for evaluating risk of information technology (IT) integration in acquisitions. Topics include the use of the experience of serial acquirer Trelleborg AB to show the merits of the framework for managing the risk and to determine low-risk acquisitions......, the importance of managing IT integration risk, and various risk areas for acquisition IT integration....

  7. Risk, surprises and black swans fundamental ideas and concepts in risk assessment and risk management

    CERN Document Server

    Aven, Terje

    2014-01-01

    Risk, Surprises and Black Swans provides an in depth analysis of the risk concept with a focus on the critical link to knowledge; and the lack of knowledge, that risk and probability judgements are based on.Based on technical scientific research, this book presents a new perspective to help you understand how to assess and manage surprising, extreme events, known as 'Black Swans'. This approach looks beyond the traditional probability-based principles to offer a broader insight into the important aspects of uncertain events and in doing so explores the ways to manage them.

  8. Risk management in nuclear power social aspects

    International Nuclear Information System (INIS)

    Sappa, N.N.

    1996-01-01

    Problems connected with safety evaluation and risk management during operation of nuclear power installations are considered. Social aspects of risk assessment of enterprises with increased danger are discussed

  9. Strategic raw materials. Risk management

    International Nuclear Information System (INIS)

    Bertau, Martin; Matschullat, Joerg; Kausch, Peter

    2014-01-01

    This volume is divided into four chapters: (1) Raw material management, (2) Primary raw materials, (3) Secondary raw materials and recycling, (4). Processing and products. The topics for the chapter ''Raw material management'' are: Substitution of raw materials - framework conditions and implementation; Thales: Strategic raw materials; Time for cooperation between the EU and China in raw materials policy; Availability of elements for the semiconductor industry; Market price risks of raw material-intensive companies - identification and management. The topics on the second item ''Primary raw materials'' are: The supply of economic-critical raw materials - A search and analysis for causes; Lithium extraction from primary raw materials - state and perspectives; The global market of rare earths - A balancing act; Rare earth deposits in Namibia; New technologies in exploration and discovery - Focus on activities in Europe. The third chapter, ''Secondary Raw Materials and Recycling'', covered the topics: Technology metals - Systemic Requirements along the recycling chain; Integrated re-use of high-tech and greentech wastes; From the sewage sludge ash to the phosphorus fertilizer RecoPhos P38 in the stress field of waste, fertilizer and soil protection. In chapter 4. ''Processing and products'' are the topics: Treatment and processing of rare earth metals; Processing of mineral resources - opportunities and challenges; Consequences of modern germanium chemistry; Strategic resources - Risk management. A review and outlook with a pinch of fantasy.. [de

  10. A GIS-based multicriteria evaluation for aiding risk management Pinus pinaster Ait. forests: a case study in Corsican Island, western Mediterranean Region.

    Science.gov (United States)

    Pasqualini, Vanina; Oberti, Pascal; Vigetta, Stéphanie; Riffard, Olivier; Panaïotis, Christophe; Cannac, Magali; Ferrat, Lila

    2011-07-01

    Forest management can benefit from decision support tools, including GIS-based multicriteria decision-aiding approach. In the Mediterranean region, Pinus pinaster forests play a very important role in biodiversity conservation and offer many socioeconomic benefits. However, the conservation of this species is affected by the increase in forest fires and the expansion of Matsucoccus feytaudi. This paper proposes a methodology based on commonly available data for assessing the values and risks of P. pinaster forests and to generating maps to aid in decisions pertaining to fire and phytosanitary risk management. The criteria for assessing the values (land cover type, legislative tools for biodiversity conservation, environmental tourist sites and access routes, and timber yield) and the risks (fire and phytosanitation) of P. pinaster forests were obtained directly or by considering specific indicators, and they were subsequently aggregated by means of GIS-based multicriteria analysis. This approach was tested on the island of Corsica (France), and maps to aid in decisions pertaining to fire risk and phytosanitary risk (M. feytaudi) were obtained for P. pinaster forest management. Study results are used by the technical offices of the local administration-Corsican Agricultural and Rural Development Agency (ODARC)-for planning the conservation of P. pinaster forests with regard to fire prevention and safety and phytosanitary risks. The decision maker took part in the evaluation criteria study (weight, normalization, and classification of the values). Most suitable locations are given to target the public intervention. The methodology presented in this paper could be applied to other species and in other Mediterranean regions.

  11. AN EVALUATION OF RISK MANAGEMENT STRATEGIES FOR DAIRY FARMS

    OpenAIRE

    Bosch, Darrell J.; Johnson, Christian J.

    1992-01-01

    Variability in feed prices and crop yields are important sources of risk to dairy farmers. A simulation model of a representative dairy farm was used to evaluate crop insurance and hedging as risk management strategies. These strategies lowered expected net returns but also reduced risk. The preferred set of strategies at lower levels of risk aversion included hedging and crop insurance, although a base scenario in which no risk management strategies were employed was also efficient. The pref...

  12. Value-oriented risk management of insurance companies

    CERN Document Server

    Kriele, Marcus

    2014-01-01

    Value- and risk-oriented management is a holistic method of managing businesses. In this book both actuarial methods and methods pertaining to classical internal control and classical risk management are used. Therefore the approach taken is necessarily interdisciplinary. Indeed, there is a new dynamically developing field for actuaries as a result of the emphasis now on the measurement of risk. This book provides the required basic knowledge for this subject from an actuarial perspective. It enables the reader to implement in practice a risk management system that is based on quantitative methods. With this book, the reader will additionally be able to critically appraise the applicability and the limits of the methods used in modern risk management. Value- Oriented Risk Management of Insurance Companies focuses on risk capital, capital allocation, performance measurement and value-oriented management. It also makes a connection to regulatory developments (for example, Solvency II). The reader should have...

  13. A structured approach to control of Salmonella Dublin in 10 Danish dairy herds based on risk scoring and test-and-manage procedures

    DEFF Research Database (Denmark)

    Nielsen, Liza Rosenbaum; Nielsen, Søren Saxmose

    2012-01-01

    The aim of this study was to describe a structured approach to effectively reduce Salmonella Dublin prevalence in infected dairy herds based on a step-wise procedure. Furthermore, the aim was to describe tools for management and monitoring, and to report on development in prevalence among young...... stock and adult cattle in 10 case herds that were followed for more than three years. The five steps in the structured approach were: 1) risk scoring to determine transmission routes within the herd and into the herd; 2) determining a plan of action; 3) performing management changes to close important...

  14. From CSR to Social Risk Management

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    2014-01-01

    other mining MNCs in the country, onsite fieldwork, interviews with key stakeholders, and public available information. This evidence suggest that a standards based social risk management strategy is adopted and that this strategy is based on international Corporate Social Responsibility (CSR) standards...... and philanthropic activities. However, evidence reveal that local and regional stakeholders, from whom social risk rise, feel disengaged from the process, continue to raise questions about transparency and in some cases actively oppose mining activities and that this is happening despite the use of stakeholder...

  15. Risk management through dynamic technical specifications

    International Nuclear Information System (INIS)

    Klopp, George T.; Petersen, Thomas A.

    2004-01-01

    The wide deployment of plant specific probabilistic risk assessments for nuclear power plants has provided the means to effect a fresh risk management perspective and a fresh, risk based, regulatory outlook on nuclear power. There has been a great deal of conversation on risk based regulation within the U. S. nuclear power industry but, curiously, very little on effective risk management. This paper proposes a means to link the two subjects through the plant Technical Specifications. A revised concept for Technical Specifications is suggested which is based on deterministic analyses and probabilistic risk assessments for each plant. The revised Technical Specifications would consider, on a real-time basis, the exact state of the plant in terms of the status of key components and systems. It would depict current plant risk levels and compare those levels to the desired and limiting (alert/action) levels. It would advise the plant operator on the risk impact of proposed actions through a simple query system and illustrate the impact of such actions on plant status relative to designated risk values. The basis for the proposed approach lies in realistic deterministic plant analyses and probabilistic risk assessment (PRA) deployment tools being developed, in parallel, by a number of parties in the U.S. today. These PRAs are based primarily on the existing plant responses to Generic Letter 88-20, 'Individual Plant Examinations' (IPEs). Each of these tools allows the plant operator to input, on a real-time basis, the status of key equipment and systems. The tools then provide explicit illustrations of dependency effects; updated, 'real-time' risk status indications such as core damage frequency; and, in some cases, allow the operator to assess the risk impact of removing from service selected components for maintenance or testing. These systems generally operate on personal computers and provide nearly instantaneous responses to plant queries. Moving from these tools to

  16. GENERAL RISKS AND UNCERTAINTIES OF REPORTING AND MANAGEMENT REPORTING RISKS

    Directory of Open Access Journals (Sweden)

    CAMELIA I. LUNGU

    2011-04-01

    Full Text Available Purpose: Highlighting risks and uncertainties reporting based on a literature review research. Objectives: The delimitation of risk management models and uncertainties in fundamental research. Research method: Fundamental research study directed to identify the relevant risks’ models presented in entities’ financial statements. Uncertainty is one of the fundamental coordinates of our world. As showed J.K. Galbraith (1978, the world now lives under the age of uncertainty. Moreover, we can say that contemporary society development could be achieved by taking decisions under uncertainty, though, risks. Growing concern for the study of uncertainty, its effects and precautions led to the rather recent emergence of a new science, science of hazards (les cindyniques - l.fr. (Kenvern, 1991. Current analysis of risk are dominated by Beck’s (1992 notion that a risk society now exists whereby we have become more concerned about our impact upon nature than the impact of nature upon us. Clearly, risk permeates most aspects of corporate but also of regular life decision-making and few can predict with any precision the future. The risk is almost always a major variable in real-world corporate decision-making, and managers that ignore it are in a real peril. In these circumstances, a possible answer is assuming financial discipline with an appropriate system of incentives.

  17. Issuance of Final Guidance: Ecological Risk Assessment and Risk Management Principles for Superfund Sites, October 7, 1999

    Science.gov (United States)

    This guidance is intended to help Superfund risk managers make ecological risk management decisions that are based on sound science, consistent across Regions, and present a characterization of site risks that is transparent to the public.

  18. A model for the optimal risk management of farm firms

    DEFF Research Database (Denmark)

    Rasmussen, Svend

    2012-01-01

    by a description of procedures for coordinated and economical application of resources to control the probability and/or impact of unfortunate events. Besides identifying the major risk factors and tools for risk management in agricultural production, the paper will look critically into the current methods......Risk management is an integrated part of business or firm management and deals with the problem of how to avoid the risk of economic losses when the objective is to maximize expected profit. This paper will focus on the identification, assessment, and prioritization of risks in agriculture followed...... for risk management Risk management is typically based on numerical analysis and the concept of efficiency. None of the methods developed so far actually solve the basic question of how the individual manager should behave so as to optimise the balance between expected profit/income and risk. In the paper...

  19. Research on Risk Management and Power Supplying Enterprise Control

    Science.gov (United States)

    Shen, Jianfei; Wang, Yige

    2017-09-01

    This paper derived from the background that electric power enterprises strengthen their risk management under requirements of the government. For the power industry, we explained the risk management theory, analysed current macro environment as well as basic situation, then classified and interpreted the main risks. In a case study on a power bureau, we established a risk management system based on deep understanding about the characteristics of its organization system and risk management function. Then, we focused on risks in operation as well as incorrupt government construction to give a more effective framework of the risk management system. Finally, we came up with the problems and specific countermeasures in risk management, which provided a reference for other electric power enterprises.

  20. Groundwater contamination from waste management sites: The interaction between risk-based engineering design and regulatory policy: 2. Results

    Science.gov (United States)

    Massmann, Joel; Freeze, R. Allan

    1987-02-01

    The risk-cost-benefit analysis developed in the companion paper (J. Massmann and R. A. Freeze, this issue) is here applied to (1) an assessment of the relative worth of containment-construction activities, site-exploration activities, and monitoring activities as components of a design strategy for the owner/operator of a waste management facility; (2) an assessment of alternative policy options available to a regulatory agency; and (3) a case history. Sensitivity analyses designed to address the first issue show that the allocation of resources by the owner/operator is sensitive to the stochastic parameters used to describe the hydraulic conductivity field at a site. For the cases analyzed, the installation of a dense monitoring network is of less value to the owner/operator than a more conservative containment design. Sensitivity analyses designed to address the second issue suggest that from a regulatory perspective, design standards should be more effective than performance standards in reducing risk, and design specifications on the containment structure should be more effective than those on the monitoring network. Performance bonds posted before construction have a greater potential to influence design than prospective penalties to be imposed at the time of failure. Siting on low-conductivity deposits is a more effective method of risk reduction than any form of regulatory influence. Results of the case history indicate that the methodology can be successfully applied at field sites.

  1. Operational Risk Management and Military Aviation Safety

    National Research Council Canada - National Science Library

    Ashley, Park

    1999-01-01

    .... The Army's Class A aviation mishap rate declined after it implemented risk management (RM) principles in 1987. This reduction caught the attention of Air Force leadership who have since stated that the application of operational risk management...

  2. A Framework for Integrating Knowledge Management with Risk Management for Information Technology Projects (RiskManiT)

    Science.gov (United States)

    Karadsheh, Louay A.

    2010-01-01

    This research focused on the challenges experienced when executing risk management activities for information technology projects. The lack of adequate knowledge management support of risk management activities has caused many project failures in the past. The research objective was to propose a conceptual framework of the Knowledge-Based Risk…

  3. Value at Risk models for Energy Risk Management

    OpenAIRE

    Novák, Martin

    2010-01-01

    The main focus of this thesis lies on description of Risk Management in context of Energy Trading. The paper will predominantly discuss Value at Risk and its modifications as a main overall indicator of Energy Risk.

  4. Theoretical concept of credit risk management

    Directory of Open Access Journals (Sweden)

    Dragosavac Miloš

    2014-01-01

    Full Text Available With the development of the banking business and the economy, exposure to different types of risk becomes greater. Identifying all risks and adequate measures have become an extremely important factor in business success in the increasingly complex economic conditions. Risks in business, in the last ten years have become the burning issue in debates among the scientific experts. With the aim of stable development of its business and equal participation in a large competitive market, primarily in order to protect its depositors and preserve system stability and liquidity, banks have to incorporate into their strategic goals the strategies of banking risks. Credit risk is of great value within the overall risks that accompany the business activity of banks, economy, and other forms of business organization. Its nature and presence in all segments of the business activities speak enough about its importance and the need for its management. Permanently growing trend of credit risk is a reality faced by not only the banking organization, but also the subjects in the economic and non-economic sector, which makes the issue of credit risk extremely important and relevant. The subject of this paper is a theoretical analysis of credit risk in banking business. Banking operations are increasingly exposed to credit risk, which indicates the inability of banks to settle their claims based on previously approved loans, and this is the case-in-point for this specific research subject.

  5. Aligning records management and risk management with busi- ness ...

    African Journals Online (AJOL)

    Ngulup

    sations have neglected good record-keeping practices thus exposing themselves to risks from various quarters. .... long been viewed as an exercise in risk management as well as a vehicle for controlling costs. According to the ..... dents in support of records management as a tool for risk management were that it is impor-.

  6. Study of International Standards of Risk Management

    Directory of Open Access Journals (Sweden)

    Dykan Volodymyr L.

    2014-01-01

    Full Text Available The goal of the article lies in the study of existing international standards of risk management, an important factor of improvement of risk management in domestic corporations and enterprises and development of recommendations on application of international standards in Ukraine, in particular, within the framework of building corporate systems of risk management. The conducted study shows that approaches on organisation of the process of risk management, used in standards of risk management, are of general character and differ with the degree of detailing. Their undoubted value in development of risk management in Ukraine is identification of a general direction of building corporate systems of risk management in practice. The said approaches at the national and corporate levels of standardisation in Ukraine within the framework of building corporate systems of risk management would allow improvement of risk management in corporations and enterprises. The prospect of further studies of domestic specialists in the field of risk management is development of the domestic standard of risk management with consideration of modern domestic specific features of development of risk management in Ukraine and leading foreign experience.

  7. 12 CFR 932.1 - Risk management.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Risk management. 932.1 Section 932.1 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL REQUIREMENTS § 932.1 Risk management. Before its new capital plan may take...

  8. Risk Management for Human Support Technology Development

    Science.gov (United States)

    jones, Harry

    2005-01-01

    NASA requires continuous risk management for all programs and projects. The risk management process identifies risks, analyzes their impact, prioritizes them, develops and carries out plans to mitigate or accept them, tracks risks and mitigation plans, and communicates and documents risk information. Project risk management is driven by the project goal and is performed by the entire team. Risk management begins early in the formulation phase with initial risk identification and development of a risk management plan and continues throughout the project life cycle. This paper describes the risk management approach that is suggested for use in NASA's Human Support Technology Development. The first step in risk management is to identify the detailed technical and programmatic risks specific to a project. Each individual risk should be described in detail. The identified risks are summarized in a complete risk list. Risk analysis provides estimates of the likelihood and the qualitative impact of a risk. The likelihood and impact of the risk are used to define its priority location in the risk matrix. The approaches for responding to risk are either to mitigate it by eliminating or reducing the effect or likelihood of a risk, to accept it with a documented rationale and contingency plan, or to research or monitor the risk, The Human Support Technology Development program includes many projects with independently achievable goals. Each project must do independent risk management, considering all its risks together and trading them against performance, budget, and schedule. Since the program can succeed even if some projects fail, the program risk has a complex dependence on the individual project risks.

  9. Groundwater contamination from waste management sites: The interaction between risk-based engineering design and regulatory policy: 1. Methodology

    Science.gov (United States)

    Massmann, Joel; Freeze, R. Allan

    1987-02-01

    This paper puts in place a risk-cost-benefit analysis for waste management facilities that explicitly recognizes the adversarial relationship that exists in a regulated market economy between the owner/operator of a waste management facility and the government regulatory agency under whose terms the facility must be licensed. The risk-cost-benefit analysis is set up from the perspective of the owner/operator. It can be used directly by the owner/operator to assess alternative design strategies. It can also be used by the regulatory agency to assess alternative regulatory policy, but only in an indirect manner, by examining the response of an owner/operator to the stimuli of various policies. The objective function is couched in terms of a discounted stream of benefits, costs, and risks over an engineering time horizon. Benefits are in the form of revenues for services provided; costs are those of construction and operation of the facility. Risk is defined as the cost associated with the probability of failure, with failure defined as the occurrence of a groundwater contamination event that violates the licensing requirements established for the facility. Failure requires a breach of the containment structure and contaminant migration through the hydrogeological environment to a compliance surface. The probability of failure can be estimated on the basis of reliability theory for the breach of containment and with a Monte-Carlo finite-element simulation for the advective contaminant transport. In the hydrogeological environment the hydraulic conductivity values are defined stochastically. The probability of failure is reduced by the presence of a monitoring network operated by the owner/operator and located between the source and the regulatory compliance surface. The level of reduction in the probability of failure depends on the probability of detection of the monitoring network, which can be calculated from the stochastic contaminant transport simulations. While

  10. RISK MANAGEMENT APPROACHES AND PRACTICES IN IT PROJECTS

    Directory of Open Access Journals (Sweden)

    BRANDAS Claudiu

    2012-07-01

    Full Text Available Risk is identified in project management literature as an important factor influencing IT projects success, and it is relevant for both academic and practitionersn#8217; communities. The paper presents the past and current approaches to risk management in IT projects. The objective of this paper is to compare the different approaches and relate them to existing practices. Project management literature and practice have brought different approaches to risk management, and as a result, many projects ended in failure. We present how risk management is considered in the literature, and we compare the main two approaches: the evaluation approach and the management approach. The contingency approach does not consider risk management to be a specific process as it is an embedded process in the other project management processes. Then, we present the main practices in risk management. The methodology applied is based on documentary study review and analysis of the concepts used by the literature. We analyzed the literature published between 1978 and 2011 from the main journals for IT project management and found out that the essence of project management is risk management. The risk management practices have a considerable influence on stakeholdersn#8217; perception of project success. But, regardless of the chosen approach, a standard method for identifying, assessing, and responding to risks should be included in any project as this influences the outcome of the project.

  11. Social Risk Management on German Labour Market

    Directory of Open Access Journals (Sweden)

    Raluca Mihălcioiu

    2014-05-01

    Full Text Available Terms such as social policy and labor market policies seem not be very current. Instead, we speak more and more about risk management. Social Risk Management is a concept developed by the Word Bank. It is a tool to transfer management techniques from the operating or finance in the social and labor market policy, to support individuals, households and communities to better manage their risk. Due to poor incentive structures, inadequate insurance policies or control often remain under preventive, palliative and solidarity balancing risk management measures. This paper sets out to define the term of social risk management, describing the basic features from different perspectives and the main measures and strategies used in social risk management area. The essay considers the most discussed word of risk management as a moral opportunity to redefine the balance of responsibility and solidarity in the labor market.

  12. Interplanetary Supply Chain Risk Management

    Science.gov (United States)

    Galluzzi, Michael C.

    2018-01-01

    Emphasis on KSC ground processing operations, reduced spares up-mass lift requirements and campaign-level flexible path perspective for space systems support as Regolith-based ISM is achieved by; Network modeling for sequencing space logistics and in-space logistics nodal positioning to include feedstock. Economic modeling to assess ISM 3D printing adaption and supply chain risk.

  13. From Open Data to Science-Based Services for Disaster Risk Management: the Experience of the GEO Geohazards Supersite Network

    Science.gov (United States)

    Salvi, S.; Poland, M. P.; Sigmundsson, F.; Puglisi, G.; Borgstrom, S.; Ergintav, S.; Vogfjord, K. S.; Fournier, N.; Hamling, I. J.; Mothes, P. A.; Savvaidis, A.; Wicks, C. W., Jr.

    2017-12-01

    In 2010, the Geohazard Supersites and Natural Laboratories initiative (GSNL) established, in the framework of GEO, the concept of a global partnership among the geophysical scientific community, space agencies, and in-situ data providers, with the aim of promoting scientific advancements in the understanding of seismic and volcanic phenomena. This goal is achieved through open sharing of large volumes of remote sensing and in-situ data from specific volcanic or seismic areas of particularly high risk or scientific interest (the Supersites) as proposed by the scientific community. Data provision to the Supersites is coordinated by local research and monitoring institutions, which deploy and manage geophysical monitoring networks and have an institutional mandate for the provision of scientific data and services to the national government and other regional users. Starting in 2015, following the changes in GEO and the call for action given by the Sendai Framework 2015-2030, the GSNL initiative has promoted the rapid uptake of newly developed scientific information for maximum societal benefit in Disaster Risk Management (DRM). While the procedures by which the scientific products are provided to the local decision makers depend on the different national operational frameworks and are largely independent of the Supersite existence, the quality of the scientific information, and thus its actual benefit for DRM, is considerably enhanced at each Supersite. This growth in scientific understanding of specific volcanic and seismic areas is not only due to wider accessibility of data, but also to the increased collaboration and sharing of resources and capacities that occurs inside the Supersite scientific community. For maximum effectiveness, the GSNL initiative supports an Open Science approach, where different collaboration and communication approaches and technological solutions are developed, tested, and shared, thereby helping to sustain the scientific investigation

  14. Risk in Management Systems according to ISO standard

    Directory of Open Access Journals (Sweden)

    P. Królas

    2010-07-01

    Full Text Available The purpose of this article was to present selected management standards in context of risk management. It presents main ISOmanagement standards (ISO 9001, ISO 14001, OHSAS 18001, ISO 27001, BS 25999, ISO 31000 that apply to polish enterprises. In thefirst part of this article there are analyzed management standards regarding quality, environment, occupational health and safety,information security, as well as business continuity management and risk management. The second part of the article discusses the processof dealing with risk based on chosen management standard.

  15. Development of funding project risk management tools.

    Science.gov (United States)

    2013-11-01

    Funding project risk management is a process for identifying, assessing, and prioritizing project funding risks. To plan to : minimize or eliminate the impact of negative events, one must identify what projects have higher risk to respond to potentia...

  16. Integrated Foreign Exchange Risk Management

    DEFF Research Database (Denmark)

    Aabo, Tom; Høg, Esben; Kuhn, Jochen

    Empirical research has focused on export as a proxy for the exchange rate exposure and the use of foreign exchange derivatives as the instrument to deal with this exposure. This empirical study applies an integrated foreign exchange risk management approach with a particular focus on the role...... of import in medium-sized, manufacturing firms in Denmark (a small, open economy). We find a strong, negative relation between import and foreign exchange derivatives usage on the aggregate level. Our findings are consistent with the notion that firms use import to match the foreign exchange exposure...

  17. Integrated foreign exchange risk management

    DEFF Research Database (Denmark)

    Aabo, Tom; Høg, Esben; Kuhn, Jochen

    2010-01-01

    Empirical research has focused on export as a proxy for exchange rate exposure and the use of foreign exchange derivatives as an instrument to deal with this exposure. This empirical study applies an integrated foreign exchange risk management approach with a particular focus on the role of import...... in medium-sized manufacturing firms in Denmark (a small, open economy). We find a strong, negative relation between import and the use of foreign exchange derivatives on the aggregate level. Our findings are consistent with the notion that firms use import to match the foreign exchange exposure created...

  18. Managing risks: Seveso and Harrisburg

    International Nuclear Information System (INIS)

    Conrads-Herzog, A.; Krebsbach-Gnath, C.

    1980-01-01

    The publications dealing with the technical, organisation-relevant, and social preconditions for risk strategies rely on second-hand information, i.e. the conclusions which are drawn from the production accident in Seveso and the TMI-accident. A comparison results in common facts as well as in fundamental differences. In contrast to the authorities in Italy the authorities in the United States intervened more rapidly; the management of necessary measures was taken over by the authorities and very good information was given. (DG) [de

  19. Flood risk management in Italy

    DEFF Research Database (Denmark)

    Mysiak, J.; Testella, F.; Bonaiuto, M.

    2013-01-01

    and confront the shortcomings encountered during more than 20 yr of organised flood risk management. This brief communication offers joint recommendations towards this end from three projects funded by the 2nd CRUE ERA-NET (http://www.crue-eranet.net/) Funding Initiative: FREEMAN, IMRA and URFlood....... in the law 183/89 of 18 May 1989, increased the reliance on the response and recovery operations of the civil protection. As a result, the importance of the Civil Protection Mechanism and the relative body of norms and regulation developed rapidly in the 1990s. In the aftermath of the Sarno (1998...

  20. Managing risk with renewable resources

    International Nuclear Information System (INIS)

    Brower, M.C.; Bernow, S.; Duckworth, M.; Spinney, P.; Bell, K.

    1997-01-01

    One approach to managing risk is for a utility company to invest in diverse power sources such as wind power plants. Since wind plants consume no fuel, can be built in relatively small increments with short construction lead times, and generate no pollutants, it is often said that they offer significant protection from risks associated with conventional fossil-fuel power plants. With assistance from Convergence Research, Charles River Associates, and the Tellus Institute, the authors tested this hypothesis by conducting an in-depth analysis of the risk implications of a decision to build a 1,600 MW wind power plant instead of a 400 MW gas-fired combined cycle plant. (The two plants were assumed to have equal firm capacity.) The case study utility was Texas Utilities Electric, a very large investor-owned company serving an area with substantial, high-quality wind resources. The uncertain inputs included fuel prices, environmental regulations (specifically, CO 2 and air pollution controls), wind plant output, conventional plant availability, and load growth. Two different market scenarios were examined: traditional regulation and an unregulated wholesale market characterized either by a power pool or fixed-price contracts of varying duration. Conclusions are striking: under traditional regulation, wind energy provides a net present-value risk-reduction benefit of $3.4 to $7.8/MWh

  1. Management of interest rate risk

    Directory of Open Access Journals (Sweden)

    Šabović Šerif

    2014-01-01

    Full Text Available Interest rate risk is one of the biggest and most dangerous risks that a bank is exposed to. When a change of interest rates occurs, the incomes of a bank based on credits and securities endure significant changes. Banks resources also endure some changes. The change of interest rates changes the value of the assets and liabilities of the bank and it's net and investment worth . The change of interest rates also affects bank's balance sheet, income sheet statement and bank's share capital.

  2. The Role of Risk and Risk Management in Experiential Education.

    Science.gov (United States)

    Mobley, Michael

    A monograph examines the role of risk and risk management in experiential education, particularly stress/challenge programming. Definitions of risk are presented. The importance of risk and stress in experiential education is emphasized. Implications of subjective versus objective risk assessment in adventure education are discussed, with…

  3. Managing medicinal risks in self-medication.

    Science.gov (United States)

    Fainzang, Sylvie

    2014-05-01

    The practice of self-medication is exemplary in raising the question of medicinal uses and risks. In contrast to the biomedical or pharmacological view of self-medication, the anthropological approach looks to understand the logics that underpin it. Therefore, I wished to question how users choose the medicines they take and how they construct the modalities of their use. However, not only are the users conscious of the risks associated with pharmaceutical use, they even devise strategies that specifically aim to reduce these risks. Based on research carried out in France on how people use medicines in the context of self-medication, I examined the strategies they adopt in order to reduce the risks connected with such use. This study relies on qualitative research. It combines interviews with users and anthropological observation, both conducted at the participants' homes, to reveal their uses, their decisions, their hesitations and the precautions they take regarding their medicines. The logics underpinning the management of risks associated with medicinal consumption are varied. Thus we find quantitative and qualitative logics, in virtue of which users choose to limit their medicines depending on the number of different medicines or on their intrinsic qualities. Their choices hinge on a logic of cumulation and a logic of identity, where, in the former, users seek to increase or reduce their medicinal consumption to augment the efficacy of a medicine or, in the latter case, they aim to reduce the risks in relation to their personal characteristics. In the same way, the perception of risk that underpins consumption practices is organised according to the notions of risk in itself and risk for oneself, where risk is either considered to be inherent to the medicine or to be linked to the incompatibility between a given substance and a person's body. Managing risk is thus done in parallel to managing efficacy, where a balance is sought between maximising the latter

  4. Risk management prospects for Egyptian cotton

    OpenAIRE

    Varangis, Panos; Thigpen, Elton; Takamasa Akiyama

    1993-01-01

    The authors examine risk management options for Egyptian cottons, the export prices for which are volatile. They use regression analysis to establish whether Egyptian cotton's prices can be effectively hedged by using existing futures contracts on the New York Cotton Exchange. They find no relationship between the movements in prices of Egyptian long and extra-long cottons and prices for the base quality of U.S. medium staple cotton traded on the New York futures market. (Probably because Egy...

  5. A Systematic Review of Internet-Based Worksite Wellness Approaches for Cardiovascular Disease Risk Management: Outcomes, Challenges & Opportunities

    Science.gov (United States)

    Aneni, Ehimen C.; Roberson, Lara L.; Maziak, Wasim; Agatston, Arthur S.; Feldman, Theodore; Rouseff, Maribeth; Tran, Thinh H.; Blumenthal, Roger S.; Blaha, Michael J.; Blankstein, Ron; Al-Mallah, Mouaz H.; Budoff, Matthew J.; Nasir, Khurram

    2014-01-01

    Context The internet is gaining popularity as a means of delivering employee-based cardiovascular (CV) wellness interventions though little is known about the cardiovascular health outcomes of these programs. In this review, we examined the effectiveness of internet-based employee cardiovascular wellness and prevention programs. Evidence Acquisition We conducted a systematic review by searching PubMed, Web of Science and Cochrane library for all published studies on internet-based programs aimed at improving CV health among employees up to November 2012. We grouped the outcomes according to the American Heart Association (AHA) indicators of cardiovascular wellbeing – weight, BP, lipids, smoking, physical activity, diet, and blood glucose. Evidence Synthesis A total of 18 randomized trials and 11 follow-up studies met our inclusion/exclusion criteria. Follow-up duration ranged from 6 – 24 months. There were significant differences in intervention types and number of components in each intervention. Modest improvements were observed in more than half of the studies with weight related outcomes while no improvement was seen in virtually all the studies with physical activity outcome. In general, internet-based programs were more successful if the interventions also included some physical contact and environmental modification, and if they were targeted at specific disease entities such as hypertension. Only a few of the studies were conducted in persons at-risk for CVD, none in blue-collar workers or low-income earners. Conclusion Internet based programs hold promise for improving the cardiovascular wellness among employees however much work is required to fully understand its utility and long term impact especially in special/at-risk populations. PMID:24421894

  6. A systematic review of internet-based worksite wellness approaches for cardiovascular disease risk management: outcomes, challenges & opportunities.

    Directory of Open Access Journals (Sweden)

    Ehimen C Aneni

    Full Text Available CONTEXT: The internet is gaining popularity as a means of delivering employee-based cardiovascular (CV wellness interventions though little is known about the cardiovascular health outcomes of these programs. In this review, we examined the effectiveness of internet-based employee cardiovascular wellness and prevention programs. EVIDENCE ACQUISITION: We conducted a systematic review by searching PubMed, Web of Science and Cochrane library for all published studies on internet-based programs aimed at improving CV health among employees up to November 2012. We grouped the outcomes according to the American Heart Association (AHA indicators of cardiovascular wellbeing--weight, BP, lipids, smoking, physical activity, diet, and blood glucose. EVIDENCE SYNTHESIS: A total of 18 randomized trials and 11 follow-up studies met our inclusion/exclusion criteria. Follow-up duration ranged from 6-24 months. There were significant differences in intervention types and number of components in each intervention. Modest improvements were observed in more than half of the studies with weight related outcomes while no improvement was seen in virtually all the studies with physical activity outcome. In general, internet-based programs were more successful if the interventions also included some physical contact and environmental modification, and if they were targeted at specific disease entities such as hypertension. Only a few of the studies were conducted in persons at-risk for CVD, none in blue-collar workers or low-income earners. CONCLUSION: Internet based programs hold promise for improving the cardiovascular wellness among employees however much work is required to fully understand its utility and long term impact especially in special/at-risk populations.

  7. Enterprise Content Management Implementation and Risk

    Directory of Open Access Journals (Sweden)

    Jaroslava Klegová

    2015-01-01

    Full Text Available Enterprise Content Management (ECM solutions are commonly used in many areas such as document management, record management, digital asset management, etc. Key features of ECM systems are capturing, indexing, preserving and retrieving of digital information. The state-of-the- art ECM solution can help revolutionize document management and further automated business processes which can lead to better decisions and competitive advantage. Risk management can reduce project failure and that is why controlling risk in ECM implementation projects is considered to be a major contributor to project success. To manage software risk, the first step is to identify a list of ECM projects’ risks. The present paper provides an overview of ECM implementation risks and contains findings from a small survey on experience of ECM implementation and risk in Czech enterprises. Risk of implementation in the public sector is discussed more deeply with case study examples.

  8. The development of a risk-based approach to managing the ecological impact of pollutants in highway runoff.

    Science.gov (United States)

    Crabtree, B; Dempsey, P; Johnson, I; Whitehead, M

    2008-01-01

    In the UK, the Highways Agency is responsible for the strategic road network. It is recognised that current design guidance to control pollutants in highway runoff is out of date. A research programme is in progress to develop a better understanding of pollutants in highway runoff and their ecological impact. The paper summarises the outcome of a study to: (1) monitor pollutants in highway runoff under different climate and traffic conditions at 24 sites; (2) develop standards to assess potential ecological risks; and (3) develop a model to predict pollutant concentrations in highway runoff. Data collection and analysis of the resulting data have identified a link between pollutant concentrations and traffic density. A number of pollutants routinely present in highway runoff have been identified as posing the greatest ecological risk. Ecologically based standards for acute impacts have been derived for the soluble form of these pollutants. These standards will be used in conjunction with the model to indicate where runoff treatment may be required to mitigate ecological risk. The model and standards will be used to develop improved design guidance to protect receiving waters from pollutants in highway runoff by identifying where runoff treatment is required, and to what degree. IWA Publishing 2008.

  9. Managing risks in business model innovation processes

    DEFF Research Database (Denmark)

    Taran, Yariv; Boer, Harry; Lindgren, Peter

    2010-01-01

    Companies today, in some industries more than others, invest more capital and resources just to stay competitive, develop more diverse solutions, and increasingly start thinking more radically when considering their business models. However, despite the understanding that business model (BM) inno...... forward, which link success and failure to the way companies appreciate and handle the risks involved in BM innovation.......) innovation is a risky enterprise, many companies are still choosing not to apply any risk management in the BM innovation process. The objective of this paper is to develop a better understanding of how risks are handled in the practice of BM innovation. An analysis of the BM innovation experiences of two...... industrial companies shows that both companies are experiencing high levels of uncertainty and complexity during their innovation processes and are, consequently, struggling to find new processes for handling the risks involved. Based on the two companies’ experiences, various testable propositions are put...

  10. To manage the ionizing radiations risks

    International Nuclear Information System (INIS)

    Metivier, H.; Romerio, F.

    2000-01-01

    Mister Romerio's work tackles the problem of controversy revealed by the experts in the field of estimation and management of ionizing radiations risks. The author describes the three paradigms at the base of the debate: the relationship without threshold (typified by the ICRP and its adepts), these ones that think that low doses risks are overestimated ( Medicine Academia for example) or that ones that believe that dose limits are too severe and induce unwarranted costs; then that ones that think that these risks are under-estimated and limits should be more reduced, even stop these practices that lead to public exposure to ionizing radiations. The author details the uncertainties about the risk estimations, refreshes the knowledge in radiation protection with the explanations of the different paradigms. At the end a table summarize the positions of the three paradigms

  11. Surveying Perception of Landslide Risk Management Performance, a Case Study in Norway

    OpenAIRE

    Chiu, Jessica Ka Yi; Eidsvig, Unni

    2017-01-01

    The effectiveness of landslide risk management should be assessed to optimize the implementation of landslide risk mitigation measures. The Risk Management Index (RMI) of Cardona et al. (Disaster risk and risk management benchmarking: a methodology based on indicators at national level. IDB/IDEA Program on Indicators for Disaster Risk Management, Universidad Nacional de Colombia, Manizales, p 101, 2004) provides useful procedures to holistically measure perceptions of risk management for natu...

  12. Cardiovascular Risk Stratification and Statin Eligibility Based on the Brazilian vs. North American Guidelines on Blood Cholesterol Management.

    Science.gov (United States)

    Cesena, Fernando Henpin Yue; Laurinavicius, Antonio Gabriele; Valente, Viviane A; Conceição, Raquel D; Santos, Raul D; Bittencourt, Marcio S

    2017-06-01

    The best way to select individuals for lipid-lowering treatment in the population is controversial. In healthy individuals in primary prevention: to assess the relationship between cardiovascular risk categorized according to the V Brazilian Guideline on Dyslipidemia and the risk calculated by the pooled cohort equations (PCE); to compare the proportion of individuals eligible for statins, according to different criteria. In individuals aged 40-75 years consecutively submitted to routine health assessment at one single center, four criteria of eligibility for statin were defined: BR-1, BR-2 (LDL-c above or at least 30 mg/dL above the goal recommended by the Brazilian Guideline, respectively), USA-1 and USA-2 (10-year risk estimated by the PCE ≥ 5.0% or ≥ 7.5%, respectively). The final sample consisted of 13,947 individuals (48 ± 6 years, 71% men). Most individuals at intermediate or high risk based on the V Brazilian Guideline had a low risk calculated by the PCE, and more than 70% of those who were considered at high risk had this categorization because of the presence of aggravating factors. Among women, 24%, 17%, 4% and 2% were eligible for statin use according to the BR-1, BR-2, USA-1 and USA-2 criteria, respectively (p valores para os homens foram 75%, 58%, 31% e 17% (p < 0,01). Oitenta e cinco por cento das mulheres e 60% dos homens elegíveis para estatina pelo critério BR-1 não seriam candidatos pelo critério EUA-1. Comparada à diretriz norte-americana, a V Diretriz Brasileira considera uma proporção substancialmente maior da população como elegível para estatina em prevenção primária. Isso se relaciona com discrepâncias entre o risco estratificado pela diretriz brasileira e o calculado pelas PCE, particularmente devido à reclassificação de risco baseada em fatores agravantes.

  13. BEHAVIOURAL INSIGHTS INTO SUPPLY CHAIN RISK MANAGEMENT

    OpenAIRE

    Alexandra-Codruta Popescu (Bîzoi); Cristian-Gabriel Bîzoi

    2015-01-01

    Literature has focused largely on the field of supply chain risk management. Numerous risks occur within supply chain management. Until lately, behavioural risks (implying large amount of losses) have been neglected and considered not relevant. In this paper we provide an analysis of the importance of including behavioural research in logistics and supply chain risk management, what has been written so far and potential future research directions. Until now, literature on logistics and supply...

  14. Commercializing fuel cells: managing risks

    Science.gov (United States)

    Bos, Peter B.

    Commercialization of fuel cells, like any other product, entails both financial and technical risks. Most of the fuel cell literature has focussed upon technical risks, however, the most significant risks during commercialization may well be associated with the financial funding requirements of this process. Successful commercialization requires an integrated management of these risks. Like any developing technology, fuel cells face the typical 'Catch-22' of commercialization: "to enter the market, the production costs must come down, however, to lower these costs, the cumulative production must be greatly increased, i.e. significant market penetration must occur". Unless explicit steps are taken to address this dilemma, fuel cell commercialization will remain slow and require large subsidies for market entry. To successfully address this commercialization dilemma, it is necessary to follow a market-driven commercialization strategy that identifies high-value entry markets while minimizing the financial and technical risks of market entry. The financial and technical risks of fuel cell commercialization are minimized, both for vendors and end-users, with the initial market entry of small-scale systems into high-value stationary applications. Small-scale systems, in the order of 1-40 kW, benefit from economies of production — as opposed to economies to scale — to attain rapid cost reductions from production learning and continuous technological innovation. These capital costs reductions will accelerate their commercialization through market pull as the fuel cell systems become progressively more viable, starting with various high-value stationary and, eventually, for high-volume mobile applications. To facilitate market penetration via market pull, fuel cell systems must meet market-derived economic and technical specifications and be compatible with existing market and fuels infrastructures. Compatibility with the fuels infrastructure is facilitated by a

  15. Extractive waste management: A risk analysis approach.

    Science.gov (United States)

    Mehta, Neha; Dino, Giovanna Antonella; Ajmone-Marsan, Franco; Lasagna, Manuela; Romè, Chiara; De Luca, Domenico Antonio

    2018-05-01

    Abandoned mine sites continue to present serious environmental hazards because the heavy metals associated with extractive waste are continuously released into the environment, where they threaten human life and the environment. Remediating and securing extractive waste are complex, lengthy and costly processes. Thus, in most European countries, a site is considered for intervention when it poses a risk to human health and the surrounding environment. As a consequence, risk analysis presents a viable decisional approach towards the management of extractive waste. To evaluate the effects posed by extractive waste to human health and groundwater, a risk analysis approach was used for an abandoned nickel extraction site in Campello Monti in North Italy. This site is located in the Southern Italian Alps. The area consists of large and voluminous mafic rocks intruded by mantle peridotite. The mining activities in this area have generated extractive waste. A risk analysis of the site was performed using Risk Based Corrective Action (RBCA) guidelines, considering the properties of extractive waste and water for the properties of environmental matrices. The results showed the presence of carcinogenic risk due to arsenic and risks to groundwater due to nickel. The results of the risk analysis form a basic understanding of the current situation at the site, which is affected by extractive waste. Copyright © 2017 Elsevier B.V. All rights reserved.

  16. Identification of water quality management policy of watershed system with multiple uncertain interactions using a multi-level-factorial risk-inference-based possibilistic-probabilistic programming approach.

    Science.gov (United States)

    Liu, Jing; Li, Yongping; Huang, Guohe; Fu, Haiyan; Zhang, Junlong; Cheng, Guanhui

    2017-06-01

    In this study, a multi-level-factorial risk-inference-based possibilistic-probabilistic programming (MRPP) method is proposed for supporting water quality management under multiple uncertainties. The MRPP method can handle uncertainties expressed as fuzzy-random-boundary intervals, probability distributions, and interval numbers, and analyze the effects of uncertainties as well as their interactions on modeling outputs. It is applied to plan water quality management in the Xiangxihe watershed. Results reveal that a lower probability of satisfying the objective function (θ) as well as a higher probability of violating environmental constraints (q i ) would correspond to a higher system benefit with an increased risk of violating system feasibility. Chemical plants are the major contributors to biological oxygen demand (BOD) and total phosphorus (TP) discharges; total nitrogen (TN) would be mainly discharged by crop farming. It is also discovered that optimistic decision makers should pay more attention to the interactions between chemical plant and water supply, while decision makers who possess a risk-averse attitude would focus on the interactive effect of q i and benefit of water supply. The findings can help enhance the model's applicability and identify a suitable water quality management policy for environmental sustainability according to the practical situations.

  17. Risk-based methodology for USNRC inspections

    International Nuclear Information System (INIS)

    Wong, S.M.; Holahan, G.M.; Chung, J.W.; Johnson, M.R.

    1995-01-01

    This paper describes the development and trial applications of a risk-based methodology to enhance the inspection processes for US nuclear power plants. Objectives of risk-based methods to complement prescriptive engineering approaches in US Nuclear Regulatory Commission (USNRC) inspection programs are presented. Insights from time-dependent risk profiles of plant configurational from Individual Plant Evaluation (IPE) studies were integrated to develop a framework for optimizing inspection efforts in NRC regulatory initiatives. Lessons learned from NRC pilot applications of the risk-based methodology for evaluation of the effectiveness of operational risk management programs at US nuclear power plant sites are also discussed

  18. Credit Risk Evaluation : Modeling - Analysis - Management

    OpenAIRE

    Wehrspohn, Uwe

    2002-01-01

    An analysis and further development of the building blocks of modern credit risk management: -Definitions of default -Estimation of default probabilities -Exposures -Recovery Rates -Pricing -Concepts of portfolio dependence -Time horizons for risk calculations -Quantification of portfolio risk -Estimation of risk measures -Portfolio analysis and portfolio improvement -Evaluation and comparison of credit risk models -Analytic portfolio loss distributions The thesis contributes to the evaluatio...

  19. The management of uncertainties in the French regulation on deep disposal: the development of a non-risk based approach

    International Nuclear Information System (INIS)

    Raimbault, P.

    2004-01-01

    The development of a safety case for disposal of high level and medium level long-lived waste in a geological formation has to handle two main difficulties: - uncertainties associated to natural systems; - uncertainties associated to the consideration of long time scales. Licensing of the different steps leading to geological disposal implies thus that a sufficient level of confidence in the safety case will be obtained, at each step, among the different stakeholders. The confidence in the safety case relies on the whole set of arguments of different natures which complement each other and build up the file. This means that, to be defensible, the safety case should be organised in such a way that it can be reviewed and scrutinized in a structured manner. This also means that individual elements of the safety case will have to be considered separately even if all elements should fit well in the integrated safety case. This segregation implies some inherent decoupling of parts of the system, of its evolution over time and of the events that may impact on it. This decoupling will thus introduce inherent uncertainties that risk or non-risk based approaches have to deal with since both approaches have to introduce transparency in the analysis. In the non-risk based or deterministic approach this segregation is pushed further in order to put into perspective the different elements of appreciation that allow to judge the safety case as a whole. The French regulation on deep disposal presented in the basic safety rule RFS III.3.f, issued in 1991, takes these points into consideration to set the basis for the safety case in the framework of a deterministic approach. This basic safety rule is currently being revised in order to clarify some concepts and to take account evolution of ideas at the national and international level. However the basic rationale behind the safety assessment methodology will remain the same. The approach presented in RFS III.2.f implies that at

  20. CEA - Assessment of risk management 2013

    International Nuclear Information System (INIS)

    Bigot, Bernard; Bonnevie, Edwige; Maillot, Bernard

    2014-06-01

    After some introducing texts by CEA managers, this report proposes a rather detailed overview and presentation of CEA activities, objectives and obtained results in different fields: protection and control of the environment, installation safety, health, safety and radiation protection, transports of hazardous materials, waste management, protection of sites, installations and heritage, management of emergency situations, management of legal risks, internal controls and audits, activity of the risk management department, CEA activities from research to industry

  1. A Risk-Based Approach to Evaluating Wildlife Demographics for Management in a Changing Climate: A Case Study of the Lewis's Woodpecker

    Science.gov (United States)

    Towler, Erin; Saab, Victoria A.; Sojda, Richard S.; Dickinson, Katherine; Bruyère, Cindy L.; Newlon, Karen R.

    2012-12-01

    Given the projected threat that climate change poses to biodiversity, the need for proactive response efforts is clear. However, integrating uncertain climate change information into conservation planning is challenging, and more explicit guidance is needed. To this end, this article provides a specific example of how a risk-based approach can be used to incorporate a species' response to climate into conservation decisions. This is shown by taking advantage of species' response (i.e., impact) models that have been developed for a well-studied bird species of conservation concern. Specifically, we examine the current and potential impact of climate on nest survival of the Lewis's Woodpecker ( Melanerpes lewis) in two different habitats. To address climate uncertainty, climate scenarios are developed by manipulating historical weather observations to create ensembles (i.e., multiple sequences of daily weather) that reflect historical variability and potential climate change. These ensembles allow for a probabilistic evaluation of the risk posed to Lewis's Woodpecker nest survival and are used in two demographic analyses. First, the relative value of each habitat is compared in terms of nest survival, and second, the likelihood of exceeding a critical population threshold is examined. By embedding the analyses in a risk framework, we show how management choices can be made to be commensurate with a defined level of acceptable risk. The results can be used to inform habitat prioritization and are discussed in the context of an economic framework for evaluating trade-offs between management alternatives.

  2. A risk-based approach to evaluating wildlife demographics for management in a changing climate: A case study of the Lewis's Woodpecker

    Science.gov (United States)

    Towler, Erin; Saab, Victoria A.; Sojda, Richard S.; Dickinson, Katherine; Bruyere, Cindy L.; Newlon, Karen R.

    2012-01-01

    Given the projected threat that climate change poses to biodiversity, the need for proactive response efforts is clear. However, integrating uncertain climate change information into conservation planning is challenging, and more explicit guidance is needed. To this end, this article provides a specific example of how a risk-based approach can be used to incorporate a species' response to climate into conservation decisions. This is shown by taking advantage of species' response (i.e., impact) models that have been developed for a well-studied bird species of conservation concern. Specifically, we examine the current and potential impact of climate on nest survival of the Lewis's Woodpecker (Melanerpes lewis) in two different habitats. To address climate uncertainty, climate scenarios are developed by manipulating historical weather observations to create ensembles (i.e., multiple sequences of daily weather) that reflect historical variability and potential climate change. These ensembles allow for a probabilistic evaluation of the risk posed to Lewis's Woodpecker nest survival and are used in two demographic analyses. First, the relative value of each habitat is compared in terms of nest survival, and second, the likelihood of exceeding a critical population threshold is examined. By embedding the analyses in a risk framework, we show how management choices can be made to be commensurate with a defined level of acceptable risk. The results can be used to inform habitat prioritization and are discussed in the context of an economic framework for evaluating trade-offs between management alternatives.

  3. [The relevance of clinical risk management].

    Science.gov (United States)

    Gulino, Matteo; Vergallo, Gianluca Montanari; Frati, Paola

    2011-01-01

    Medical activity includes a risk of possible injury or complications for the patients, that should drive the Health Care Institutions to introduce and/ or improve clinical Risk management instruments. Although Italy is still lacking a National project of Clinical Risk Management, a number of efforts have been made by different Italian Regions to introduce instruments of risk management. In addition, most of National Health Care Institutions include actually a Department specifically in charge to manage the clinical risk. Despite the practical difficulties, the results obtained until now suggest that the risk management may represent a useful instrument to contribute to the reduction of errors in clinical conduct. Indeed, the introduction of adequate instruments of prevention and management of clinical risk may help to ameliorate the quality of health care Institution services.

  4. Human System Risk Management for Space Flight

    Science.gov (United States)

    Davis, Jeffrey

    2015-01-01

    This brief abstract reviews the development of the current day approach to human system risk management for space flight and the development of the critical components of this process over the past few years. The human system risk management process now provides a comprehensive assessment of each human system risk by design reference mission (DRM) and is evaluated not only for mission success but also for long-term health impacts for the astronauts. The discipline of bioastronautics is the study of the biological and medical effects of space flight on humans. In 1997, the Space Life Sciences Directorate (SLSD) initiated the Bioastronautics Roadmap (Roadmap) as the "Critical Path Roadmap", and in 1998 participation in the roadmap was expanded to include the National Space Biomedical Research Institute (NSBRI) and the external community. A total of 55 risks and 250 questions were identified and prioritized and in 2000, the Roadmap was base-lined and put under configuration control. The Roadmap took into account several major advisory committee reviews including the Institute of Medicine (IOM) "Safe Passage: Astronaut care for Exploration Missions", 2001. Subsequently, three collaborating organizations at NASA HQ (Chief Health and Medical Officer, Office of Space Flight and Office of Biological & Physical Research), published the Bioastronautics Strategy in 2003, that identified the human as a "critical subsystem of space flight" and noted that "tolerance limits and safe operating bands must be established" to enable human space flight. These offices also requested a review by the IOM of the Roadmap and that review was published in October 2005 as "A Risk Reduction Strategy for Human Exploration of Space: A Review of NASA's Bioastronautics Roadmap", that noted several strengths and weaknesses of the Roadmap and made several recommendations. In parallel with the development of the Roadmap, the Office of the Chief Health and Medical Officer (OCHMO) began a process in

  5. Risk management study for the retired Hanford Site facilities: Risk management executive summary

    International Nuclear Information System (INIS)

    Coles, G.A.; Shultz, M.V.; Taylor, W.E.

    1994-02-01

    This document provides a cost-comparison evaluation for implementing certain risk-reduction measures and their effect on the overall risk of the 100 and 200 Area retired, surplus facilities. The evaluation is based on conditions that existed at the time the risk evaluation team performed facility investigations, and does not acknowledge risk-reduction measures that occurred soon after risk identification. This evaluation is one part of an overall risk management study for these facilities. The retired facilities investigated for this evaluation are located in the 100 and 200 Areas of the 1450-km 2 Hanford Site. The Hanford Site is a semiarid tract of land in southeastern Washington State. The nearest population center is Richland, Washington, (population 32,000) 30 km southeast of the 200 Area. This document is the first in a four volume series that comprise the risk management study for the retired, surplus facilities. Volume 2 is the risk evaluation work procedure; volume 3 provides the results for the risk evaluation; and volume 4 is the risk-reduction cost comparison

  6. Towards a conceptual framework of OSH risk management in smart working environments based on smart PPE, ambient intelligence and the Internet of Things technologies.

    Science.gov (United States)

    Podgórski, Daniel; Majchrzycka, Katarzyna; Dąbrowska, Anna; Gralewicz, Grzegorz; Okrasa, Małgorzata

    2017-03-01

    Recent developments in domains of ambient intelligence (AmI), Internet of Things, cyber-physical systems (CPS), ubiquitous/pervasive computing, etc., have led to numerous attempts to apply ICT solutions in the occupational safety and health (OSH) area. A literature review reveals a wide range of examples of smart materials, smart personal protective equipment and other AmI applications that have been developed to improve workers' safety and health. Because the use of these solutions modifies work methods, increases complexity of production processes and introduces high dynamism into thus created smart working environments (SWE), a new conceptual framework for dynamic OSH management in SWE is called for. A proposed framework is based on a new paradigm of OSH risk management consisting of real-time risk assessment and the capacity to monitor the risk level of each worker individually. A rationale for context-based reasoning in SWE and a respective model of the SWE-dedicated CPS are also proposed.

  7. Risk management and audit | IDRC - International Development ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    We recognize these risks and work to manage them effectively with the support of our knowledgeable staff on the ground. We manage risk: strategically, with a sound governance and accountability structure;; programmatically, with a well defined strategic and program framework and sound management processes; and ...

  8. 76 FR 45724 - Clearing Member Risk Management

    Science.gov (United States)

    2011-08-01

    ... Management AGENCY: Commodity Futures Trading Commission. ACTION: Notice of proposed rulemaking. SUMMARY: The... proposed rules address risk management for cleared trades by futures commission merchants, swap dealers... Commission has proposed extensive regulations addressing open access and risk management at the derivatives...

  9. Risk Management and Financial Derivatives: An Overview

    NARCIS (Netherlands)

    S.M. Hammoudeh (Shawkat); M.J. McAleer (Michael)

    2012-01-01

    textabstractRisk management is crucial for optimal portfolio management. One of the fastest growing areas in empirical finance is the expansion of financial derivatives. The purpose of this special issue on “Risk Management and Financial Derivatives” is to highlight some areas in which novel

  10. Coastal Risk Management in a Changing Climate

    DEFF Research Database (Denmark)

    Existing coastal management and defense approaches are not well suited to meet the challenges of climate change and related uncertanities. Professionals in this field need a more dynamic, systematic and multidisciplinary approach. Written by an international group of experts, "Coastal Risk...... Management in a Changing Climate" provides innovative, multidisciplinary best practices for mitigating the effects of climate change on coastal structures. Based on the Theseus program, the book includes eight study sites across Europe, with specific attention to the most vulnerable coastal environments...... such as deltas, estuaries and wetlands, where many large cities and industrial areas are located. Integrated risk assessment tools for considering the effects of climate change and related uncertainties. Presents latest insights on coastal engineering defenses. Provides integrated guidelines for setting up...

  11. Benchmarking Outdoor Expeditionary Program Risk Management Strategies

    Science.gov (United States)

    Meerts-Brandsma, Lisa; Furman, Nate; Sibthorp, Jim

    2017-01-01

    In 2003, the University of Utah and the National Outdoor Leadership School (NOLS) completed a study that developed a risk management taxonomy in the outdoor adventure industry and assessed how different outdoor expeditionary programs (OEPs) managed risk (Szolosi, Sibthorp, Paisley, & Gookin, 2003). By unifying the language around risk, the…

  12. Active Risk Management and Banking Stability

    NARCIS (Netherlands)

    Silva Buston, C.F.

    2013-01-01

    Abstract: This paper analyzes the net impact of two opposing effects of active risk management at banks on their stability: higher risk-taking incentives and better isolation of credit supply from varying economic conditions. We present a model where banks actively manage their portfolio risk by

  13. Manejo de riesgo (Risk Management). ERIC Digest.

    Science.gov (United States)

    Gaustad, Joan

    The ordinary conduct of school business is accompanied today by risks that were rare or unknown a few decades ago. This ERIC Digest in Spanish discusses how risk management, a concept long used by corporate decision makers, can help school boards and administrators conserve their districts' assets. Risk management is a coordinated effort to…

  14. Information risk management a practitioner's guide

    CERN Document Server

    Sutton, David

    2014-01-01

    Information risk management (IRM) is about identifying, assessing and prioritising risks to keep information secure and available. This accessible book provides practical guidance to the principles and development of a strategic approach to an IRM programme. The only textbook for the BCS Practitioner Certificate in Information Risk Management.

  15. Risk management at Lawrence Livermore National Laboratory

    International Nuclear Information System (INIS)

    Cummings, G.E.; Strait, R.S.

    1993-10-01

    Managing risks at a large national laboratory presents a unique set of challenges. These challenges include the management of a broad diversity of activities, the need to balance research flexibility against management control, and a plethora of requirements flowing from regulatory and oversight bodies. This paper will present the experiences of Lawrence Livermore National Laboratory (LLNL) in risk management and in dealing with these challenges. While general risk management has been practiced successfully by all levels of Laboratory management, this paper will focus on the Laboratory's use of probabilistic safety assessment and prioritization techniques and the integration of these techniques into Laboratory operations

  16. Effects of risk attitudes on extended attack fire management decisionmaking

    Science.gov (United States)

    Donald G. MacGregor; Armando González-Cabán

    2009-01-01

    Fire management inherently involves the assessment and management of risk, and decision making under uncertainty. Although organizational standards and guides are an important determinant of how decision problems are structured and framed, decision makers may view risk-based decisions from a perspective that is unique to their background and experience. Previous...

  17. A multi-reservoir based water-hydroenergy management model for identifying the risk horizon of regional resources-energy policy under uncertainties

    International Nuclear Information System (INIS)

    Zeng, X.T.; Zhang, S.J.; Feng, J.; Huang, G.H.; Li, Y.P.; Zhang, P.; Chen, J.P.; Li, K.L.

    2017-01-01

    Highlights: • A multi-reservoir system can handle water/energy deficit, flood and sediment damage. • A MWH model is developed for planning a water allocation and energy generation issue. • A mixed fuzzy-stochastic risk analysis method (MFSR) can handle uncertainties in MWH. • A hybrid MWH model can plan human-recourse-energy with a robust and effective manner. • Results can support adjusting water-energy policy to satisfy increasing demands. - Abstract: In this study, a multi-reservoir based water-hydroenergy management (MWH) model is developed for planning water allocation and hydroenergy generation (WAHG) under uncertainties. A mixed fuzzy-stochastic risk analysis method (MFSR) is introduced to handle objective and subjective uncertainties in MWH model, which can couple fuzzy credibility programming and risk management within a general two-stage context, with aim to reflect the infeasibility risks between expected targets and random second-stage recourse costs. The developed MWH model (embedded by MFSR method) can be applied to a practical study of WAHG issue in Jing River Basin (China), which encounters conflicts between human activity and resource/energy crisis. The construction of water-energy nexus (WEN) is built to reflect integrity of economic development and resource/energy conservation, as well as confronting natural and artificial damages such as water deficit, electricity insufficient, floodwater, high sedimentation deposition contemporarily. Meanwhile, the obtained results with various credibility levels and target-violated risk levels can support generating a robust plan associated with risk control for identification of the optimized water-allocation and hydroenergy-generation alternatives, as well as flood controls. Moreover, results can be beneficial for policymakers to discern the optimal water/sediment release routes, reservoirs’ storage variations (impacted by sediment deposition), electricity supply schedules and system benefit

  18. Stress Analysis in Managing the Region’s Budget Risks

    Directory of Open Access Journals (Sweden)

    Natalya Pavlovna Pazdnikova

    2014-09-01

    Full Text Available The article addresses the implementation of budget risk management methods into the practices of governmental authorities. Drawing on the example of a particular region the article aims to demonstrate the possible methods of budget risk management. The authors refine the existing approaches to the notion of risk in its relation to budget system by introducing the notion of “budget risk.” Here the focus is the risk of default of budget spending in full which causes underfunding of territories and decrease in quality of life in the region. The authors have particularized the classification of budget risks and grouped together the criteria and factors which significantly influence the assessment and choice of method to manage budget risks. They hypothesize that budget risk is a financial risk. Therefore, the methods of financial risks management can be applied to budget risks management. The authors suggest a methodological approach to risk assessment based on correlation and regression analysis of program financing. The application of Kendall rank correlation coefficient allowed to assess the efficiency of budget spending on the implementation of state programs in Perm Krai. Two clusters — “Nature management and infrastructure” and “Public security” — turned out to be in the zone of high budget risk. The method of stress analysis, which consists in calculating Value at Risk (VaR, was applied to budget risks that in terms of probability are classified as critical. In order to assess risk as probability rate, the amount of Perm Krai deficit budget was calculated as induced variable from budget revenues and spending. The results demonstrate that contemporary management of public resources in the regions calls for the implementation of new management tools of higher quality and budget risk management is one of them.

  19. Barriers to implementation of risk management for federal wildland fire management agencies in the United States

    Science.gov (United States)

    Dave Calkin; Matthew P. Thompson; Alan A. Ager; Mark Finney

    2010-01-01

    In this presentation we review progress towards the implementation of a risk-based management framework for U.S. Federal wildland fire policy and operations. We first describe new developments in wildfire simulation technology that catalyzed the development of risk-based decision support systems for strategic wildfire management. These systems include new analytical...

  20. Identifying risks in the realm of enterprise risk management.

    Science.gov (United States)

    Carroll, Roberta

    2016-01-01

    An enterprise risk management (ERM) discipline is comprehensive and organization-wide. The effectiveness of ERM is governed in part by the strength and breadth of its practices and processes. An essential element in decision making is a thorough process by which organizational risks and value opportunities can be identified. This article will offer identification techniques that go beyond those used in traditional risk management programs and demonstrate how these techniques can be used to identify risks and opportunity in the ERM environment. © 2016 American Society for Healthcare Risk Management of the American Hospital Association.

  1. Networked Risk Management : How to successfully manage risks in hyperconnected value networks

    NARCIS (Netherlands)

    Joosten, H.J.M.; Smulders, A.C.M.

    2014-01-01

    Networked Risk Management (NRM) is a methodology aimed at managing dynamic risks. The methodology facilitates the mind shift from risk management to success governance. The result is an accountable prioritisation of risks that could lead to being unsuccessful. NRM is applicable in combination with

  2. Enterprise risk management implementation : perceptions of risk practitioners in the South African mining industry

    OpenAIRE

    2013-01-01

    M.Comm. (Financial Economics) Enterprise risk management (ERM) is emerging as a risk management methodology that is seemingly superior to that of traditional, silo-based risk management. Although ERM implementation is on the increase, research into ERM is still limited. There is, for instance, a lack of clarity within the literature regarding which factors lead to companies embracing ERM, as well as a lack of consensus on ERM’s benefits. The purpose of this study was therefore to explore t...

  3. Risk Management in Mergers and Acquisitions

    Directory of Open Access Journals (Sweden)

    Dmitry O. Verdiev

    2015-01-01

    Full Text Available M&A statistics show that less than a third of newly merged companies has realized their planned synergistic effects and increased shareholder value. According to the author, such disgusting situation is due to improper planning and failure of corporate management to understand the importance of risk management in M&A. Lack of practice in identification, evaluation, mitigation and regular monitoring of risks leads to the situation when many companies merge despite the fact that the merger bears substantial risks. Corporate management fails to include risk mitigation expenses in merger costs. In many cases, risk mitigation expenses may be so substantive that the merger loses its attractiveness. Only few companies implement risk management methodology while planning M&A activity. This methodology may anticipate and minimize the consequences of various risk factors that negatively influence integration process. The article suggests an implementation of risk management best practice. This risk management best practice may act as an effective tool of successful realization of synergistic effects in M&A and may be helpful in increasing shareholder value in post-merger period. Risk management is conducted throughout the stages of merger and includes identification, analysis, assessment, management and monitoring of risks. Implementation of risk management at early stages of merger planning significantly decreases uncertainty in relation to achievement of financial and operational goals of newly merged company. The article provides with typical M&A risk matrix that may be adapted for specific M&A project. Risk matrix includes a register of risks sorted by stages of M&A deal, quality assessment of their probability, influence and impact on merger as well as risk mitigation methods.

  4. Risk Management of Large RC Structures within Spatial Information System

    DEFF Research Database (Denmark)

    Qin, Jianjun; Faber, Michael Havbro

    2012-01-01

    Abstract: The present article addresses the development of a spatial information system (SIS), which aims to facilitate risk management of large‐scale concrete structures. The formulation of the SIS is based on ideas developed in the context of indicator‐based risk modeling for concrete structures...... subject to corrosion and geographical information system based risk modeling concerning large‐scale risk management. The term “risk management” here refers in particular to the process of condition assessment and optimization of the inspection and repair activities. The SIS facilitates the storage...... and handling of all relevant information to the risk management. The probabilistic modeling utilized in the condition assessment takes basis in a Bayesian hierarchical modeling philosophy. It facilitates the updating of risks as well as optimizing inspection plans whenever new information about the condition...

  5. Network analysis of swine shipments in Ontario, Canada, to support disease spread modelling and risk-based disease management.

    Science.gov (United States)

    Dorjee, S; Revie, C W; Poljak, Z; McNab, W B; Sanchez, J

    2013-10-01

    Understanding contact networks are important for modelling and managing the spread and control of communicable diseases in populations. This study characterizes the swine shipment network of a multi-site production system in southwestern Ontario, Canada. Data were extracted from a company's database listing swine shipments among 251 swine farms, including 20 sow, 69 nursery and 162 finishing farms, for the 2-year period of 2006 to 2007. Several network metrics were generated. The number of shipments per week between pairs of farms ranged from 1 to 6. The medians (and ranges) of out-degree were: sow 6 (1-21), nursery 8 (0-25), and finishing 0 (0-4), over the entire 2-year study period. Corresponding estimates for in-degree of nursery and finishing farms were 3 (0-9) and 3 (0-12) respectively. Outgoing and incoming infection chains (OIC and IIC), were also measured. The medians (ranges) of the monthly OIC and IIC were 0 (0-8) and 0 (0-6), respectively, with very similar measures observed for 2-week intervals. Nursery farms exhibited high measures of centrality. This indicates that they pose greater risks of disease spread in the network. Therefore, they should be given a high priority for disease prevention and control measures affecting all age groups alike. The network demonstrated scale-free and small-world topologies as observed in other livestock shipment studies. This heterogeneity in contacts among farm types and network topologies should be incorporated in simulation models to improve their validity. In conclusion, this study provided useful epidemiological information and parameters for the control and modelling of disease spread among swine farms, for the first time from Ontario, Canada. Copyright © 2013 Elsevier B.V. All rights reserved.

  6. Hybrid Risk Management Methodology: A Case Study

    Directory of Open Access Journals (Sweden)

    Jacky Siu-Lun Ting

    2009-10-01

    Full Text Available Risk management is a decision-making process involving considerations of political, social, economic and engineering factors with relevant risk assessments relating to a potential hazard. In the last decade, a number of risk management tools are introduced and employed to manage and minimize the uncertainty and threats realization to the organizations. However, the focus of these methodologies are different; in which companies need to adopt various risk management principles to visualize a full picture of the organizational risk level. Regarding to this, this paper presents a new approach of risk management that integrates Hierarchical Holographic Modeling (HHM, Enterprise Risk Management (ERM and Business Recovery Planning (BCP for identifying and assessing risks as well as managing the consequences of realized residual risks. To illustrate the procedures of the proposed methodology, a logistic company ABC Limited is chosen to serve as a case study Through applying HHM and ERM to investigate and assess the risk, ABC Limited can be better evaluated the potential risks and then took the responsive actions (e.g. BCP to handle the risks and crisis in near future.

  7. Managing financial risk with options on futures.

    Science.gov (United States)

    Bond, M T; Marshall, B S

    1995-05-01

    With the rise of managed care and capitation, more providers will be sharing in the financial risk of providing care. To help protect their organizations from the risk of unexpectedly high utilization under such a fixed-payment system, healthcare financial managers soon will be able to use options on futures contracts. These contracts provide wide profit potential but limited loss potential. Before investing in options on futures, however, healthcare financial managers should consider issues such as basis risk and trading costs.

  8. An Optical-Fiber-Based Smart Textile (Smart Socks) to Manage Biomechanical Risk Factors Associated With Diabetic Foot Amputation.

    Science.gov (United States)

    Najafi, Bijan; Mohseni, Hooman; Grewal, Gurtej S; Talal, Talal K; Menzies, Robert A; Armstrong, David G

    2017-07-01

    This study aimed to validate a smart-textile based on fiber-optics for simultaneous measurement of plantar temperature, pressure, and joint angles in patients with diabetic peripheral neuropathy (DPN). After in-vitro validation in the laboratory, 33 eligible subjects with DPN were recruited (age: 58 ± 8 years, BMI: 31.5 ± 8 kg/m 2 ) for assessing plantar pressure and temperature during habitual gait-speed in a clinical-setting. All participants were asked to walk at their habitual speed while wearing a pair of sensorized socks made from highly flexible fiber optics (SmartSox). An algorithm was designed to estimate temperature, pressure, and toe range of motion from optical wavelength generated from SmartSox. To validate the device, results from thermal stress response (TSR) using thermography and peak pressure measured by computerized pressure insoles (F-Scan) were used as gold standards. In laboratory and under controlled conditions, the agreements for parameters of interest were excellent ( r > .98, P = .000), and no noticeable cross-talks between measurements of temperature, angle, and pressure were observed. During clinical data acquisition, a significant correlation was found for pressure profile under different anatomical regions of interest between SmartSox and F-Scan ( r = .67, P < .050) as well as between thermography and SmartSox ( r = .55, P < .050). This study demonstrates the validity of an innovative smart textile for assessing simultaneously the key parameters associated with risk of foot ulcers in patients with DPN. It may empower clinicians to objectively stratify foot risk and provide timely care. Another study is warranted to validate its clinical application in preventing limb threating problems in patients with DPN.

  9. THE ANALYSIS OF RISK MANAGEMENT PROCESS WITHIN MANAGEMENT

    Directory of Open Access Journals (Sweden)

    ROMANESCU MARCEL LAURENTIU

    2016-10-01

    Full Text Available This article highlights the risk analysis within management, focusing on how a company could practicaly integrate the risks management in the existing leading process. Subsequently, it is exemplified the way of manage risk effectively, which gives numerous advantages to all firms, including improving their decision-making process. All these lead to the conclusion that the degree of risk specific to companies is very high, but if managers make the best decisions then it can diminish it and all business activitiy and its income are not influenced by factors that could disturb in a negative way .

  10. Managing Risk Areas in Software Development Offshoring

    DEFF Research Database (Denmark)

    Persson, John Stouby; Schlichter, Bjarne Rerup

    2015-01-01

    Software companies are increasingly offshoring development to countries with high expertise at lower cost. Offshoring involves particular risk areas that if ignored increase the likelihood of failure. However, the offshoring client’s maturity level may influence the management of these risk areas....... Against this backdrop, we present an interpretive case study of how managers perceive and mitigate the risk areas in software development offshoring with a mature CMMI level 5 (Capability Maturity Model, Integrated) software company as the client. We find that managers perceive and mitigate most...... and why managers perceive and mitigate the risk areas in this way and the implications for theory and practice in software development offshoring....

  11. CEA - Assessment of risk management for 2012

    International Nuclear Information System (INIS)

    Bonnevie, Edwige

    2013-06-01

    This report proposes an overview of the main events, actions performed by the CEA, and facts for 2012 regarding protection and monitoring of the environment, installation safety, occupational health and safety, radiological protection of workers, transportation of hazardous materials, waste management, protection of sites, installations and heritage, emergency situation management, legal risk management, internal controls and audits. It also presents the organisation and action of the risk management department within the CEA

  12. Economic Exposure and Integrated Risk Management

    OpenAIRE

    Miller, Kent D.

    1994-01-01

    Most corporate risk management research focuses on particular risk exposures to the exclusion of other interrelated exposures. By contrast, this study models corporate risk exposures using a multivariate approach integrating the distinct exposures of interest to finance and strategy researchers. The paper addresses the implications of multivariate modeling for corporate risk management, some key methodological issues arising in empirical estimation of corporate economic exposrues, and direc...

  13. Risk management's role in corporate governance

    OpenAIRE

    Coulson-Thomas, Colin

    2017-01-01

    One of the dilemmas faced by directors is the need to be entrepreneurial in ensuring the future succcess of a company while at the same time retaining prudent control. A conversation is required among some directors and boards to review what is meant by risk and risk management, their governance responsibilities in relation to risk, and the extent to which the risk management community is perceived as a help or hinder to addressing contemporary challenges facing boards and their companies, an...

  14. Operational risk management in financial institutions

    OpenAIRE

    2014-01-01

    M.Com. (Business Management) Financial institutions and regulatory bodies of the financial services industry have, in the last decade of the 20th century, woken up to the realisation that the risk management procedures adopted and promoted by them did not take into account all the risks to which financial institutions were exposed. The one risk category, made up by an array of risks, that has been acknowledged by financial institutions and regulatory bodies for some time, but that has not ...

  15. APPLIED ISSUES ABOUT BANKING RISK MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Elena Geanina Clipici

    2017-09-01

    Full Text Available The following paper emphasizes the need to deepen the understanding of the notion of banking risk management by explaining the significant risks the bank encounters during financial exercises as well as their additional entries. The study of the paper will focus on UniCredit Bank during the years 2014 and  2015 on all types of risks, in which we will provide comprehensive data on how the UniCredit Bank management applies its risk policies.

  16. Operational risk management: practical implications for the South ...

    African Journals Online (AJOL)

    Like its European counterparts, the South African insurance industry is moving towards its own risk-based regulatory regime, Solvency Assessment and Management (SAM). As a result greater focus is being placed on the appreciation of risks facing firms, of which operational risk forms a significant part. This paper aims to ...

  17. Disaster Risk Management of Urban Systems

    Directory of Open Access Journals (Sweden)

    Ana-Diana Ancaş

    2006-01-01

    Full Text Available Evaluating the risk of natural disasters is an intensely debated issue, both on national and international level. In the present paper, after a brief review of the international research in this field and an introduction in risk management, we insisted on risk analysis of an urban area, called urban system. More precisely, we investigated the evaluation of risk and the behavior of the pipelines infrastructure characteristic in an urban area during an earthquake.By taking into account a certain region in Jassy city area, we present a methodology of evaluating seismic risk of the utilities network of the region. The method consists in establishing the necessary steps to be taken in such an evaluation. These steps are also graphically displayed for the gas pipelines of the area, and emphasizing the critical points existent in that sector e.g. gas stations. Using the cellular automata technique, inspired from the artificial intelligence and complex system fields, based on the GIS map of the analysed region, we obtained a map with the risk areas in case of an earthquake, taking into account the gas pipelines network and the existing critical points.

  18. RISK MANAGEMENT IN THE ELECTRONIC BUSINESS

    OpenAIRE

    Georgeta Soava

    2016-01-01

    Risk should not be understood as a destructive phenomenon, but bear in mind that managers who know how to use it can lead to real opportunities. Manager must first recognize the existence of risk, namely to identify and then use specific methods to avoid or reduce the risk. The purpose of this paper is to enter the world, at all simple, of risk management, relatively easy concept to understand but not so easy to put into practice. Of course, the approach relates primarily at the risks i...

  19. Toward effective ecological risk-management of refinery corrective action

    International Nuclear Information System (INIS)

    Metzger, B.H.; Rury, P.M.; Turton, D.; Archibald, B.; Clark, J.; Cura, J.

    1995-01-01

    Cleanup of complex industrial sites, such as refineries, requires risk-based decision tools to ensure that environmentally protective remediation is consistent with current and future land use. However, conventional ecological risk assessment approaches are not well suited for complex industrial sites. Site risk assessments focus on hypothetical chemical risk assuming diverse and undisturbed ecosystems, rather than industrial and disturbed area conditions. In addition, they offer little guidance as to how to make timely and effective risk management decisions. An innovative methodology is proposed to assist industry and regulatory risk managers with rapid EcoRisk reconnaissance and cost-effective remedial decision-making at complex industrial sites. Phase 1 comprises a three-step risk screening of areas of ecological concern at the site, which integrates habitat quality characteristics and potential chemical hazards. It yields an ordering of areas as follows: areas of no significant risk; areas of potentially significant risk; and areas of likely significant risk. A decision rule is then applied to determine appropriate risk management action, including: no action; additional study; and remedial or management action. In Phase 2, additional study is conducted for areas that exhibit potentially significant risk so as to facilitate risk management. This methodology is currently being applied at the 1,300 acre, former Exxon Bayway Refinery in New Jersey

  20. Probabilistic risk assessment methodology for risk management and regulatory applications

    International Nuclear Information System (INIS)

    See Meng Wong; Kelly, D.L.; Riley, J.E.

    1997-01-01

    This paper discusses the development and potential applications of PRA methodology for risk management and regulatory applications in the U.S. nuclear industry. The new PRA methodology centers on the development of This paper discusses the time-dependent configuration risk profile for evaluating the effectiveness of operational risk management programs at U.S. nuclear power plants. Configuration-risk profiles have been used as risk-information tools for (1) a better understanding of the impact of daily operational activities on plant safety, and (2) proactive planning of operational activities to manage risk. Trial applications of the methodology were undertaken to demonstrate that configuration-risk profiles can be developed routinely, and can be useful for various industry and regulatory applications. Lessons learned include a better understanding of the issues and characteristics of PRA models available to industry, and identifying the attributes and pitfalls in the developement of risk profiles

  1. Risk-stratification, resource availability, and choice of surgical location for the management of parturients with abnormal placentation: a survey of United States-based obstetric anesthesiologists.

    Science.gov (United States)

    Grant, T R; Ellinas, E H; Kula, A O; Muravyeva, M Y

    2018-02-02

    Parturients with abnormally adherent placentas present anesthetic challenges that include risk-stratification, management planning and resource utilization. The labor and delivery unit may be remote from the main operating room services. Division chiefs of North American obstetric anesthesiology services were surveyed about their practices and management of parturients with an abnormally adherent placenta. Eighty-four of 122 chiefs, representing 103 hospital sites, responded to the survey (response rate 69%). Sixty-one percent of respondents agreed that women with preoperative placental imaging that was "suspicious" of placenta accreta represented a lower risk category; all other suggested descriptions fell into a higher risk category. Seventy-nine percent of respondents indicated that lower risk cases were managed on the labor and delivery unit, while 71% indicated that higher risk cases would be managed in the main operating room. Institutions where all cases were managed on the labor and delivery unit had better access to human and technical resources, were less remote from their main operating areas, and promoted neuraxial rather than general anesthesia, even for parturients perceived to be at higher risk. Obstetric anesthesia leaders identified patients at lower clinical risk and those less likely to require greater resources. Additional resources were available in institutions where all abnormal placentation cases were managed on the labor and delivery unit. Practitioners should consider risk-stratification and resource availability when planning high-risk cases. Copyright © 2018 Elsevier Ltd. All rights reserved.

  2. Natural-technological risk assessment and management

    Science.gov (United States)

    Burova, Valentina; Frolova, Nina

    2016-04-01

    EM-DAT statistical data on human impact and economic damages in the 1st semester 2015 are the highest since 2011: 41% of disasters were floods, responsible for 39% of economic damage and 7% of events were earthquakes responsible for 59% of total death toll. This suggests that disaster risk assessment and management still need to be improved and stay the principle issue in national and international related programs. The paper investigates the risk assessment and management practice in the Russian Federation at different levels. The method is proposed to identify the territories characterized by integrated natural-technological hazard. The maps of the Russian Federation zoning according to the integrated natural-technological hazard level are presented, as well as the procedure of updating the integrated hazard level taking into account the activity of separate processes. Special attention is paid to data bases on past natural and technological processes consequences, which are used for verification of current hazard estimation. The examples of natural-technological risk zoning for the country and some regions territory are presented. Different output risk indexes: both social and economic, are estimated taking into account requirements of end-users. In order to increase the safety of population of the Russian Federation the trans-boundaries hazards are also taken into account.

  3. The total theory about risk management

    International Nuclear Information System (INIS)

    Furuya, Shunsuke

    2003-01-01

    A general working procedure of risk management, some example of other countries, topics and problems in the future are described. A definition of risk, risk assessment, risk management process, setting of aim and definite policy are explained. As a fundamental way of thinking, risk is controlled by ALARP (As Low As Reasonably Practicable). The upper and lower limit of risk level is called as Quantitative Safety Goal and Target Level of Safety, respectively. These limits in the atomic power and airplane are decided. Evaluation of risk, countermeasure and practice are explained. For example, a permissible range of risk and practical use in England, U.S.A, Holland and Japan are stated. Recently, accountability risk, missing demand risk and control risk are important. (S.Y.)

  4. Risk management method for small photovoltaic plants

    Directory of Open Access Journals (Sweden)

    Kirova Milena

    2016-09-01

    Full Text Available Risk management is necessary for achieving the goals of the organization. There are many methods, approaches, and instruments in the literature concerning risk management. However, these are often highly specialized and transferring them to a different field can prove difficult. Therefore, managers often face situations where they have no tools to use for risk management. This is the case with small photovoltaic plants (according to a definition by the Bulgarian State Energy and Water Regulatory Commission small applies to systems with a total installed power of 200 kWp. There are some good practices in the energy field for minimizing risks, but they offer only partial risk prevention and are not sufficient. Therefore a new risk management method needs to be introduced. Small photovoltaic plants offer plenty of advantages in comparison to the other renewable energy sources which makes risk management in their case more important. There is no classification of risks for the exploitation of small photovoltaic systems in the available literature as well as to what degree the damages from those risks could spread. This makes risk analysis and evaluation necessary for obtaining information which could aid taking decisions for improving risk management. The owner of the invested capital takes a decision regarding the degree of acceptable risk for his organization and it must be protected depending on the goals set. Investors in small photovoltaic systems need to decide to what degree the existing risks can influence the goals previously set, the payback of the investment, and what is the acceptable level of damages for the investor. The purpose of this work is to present a risk management method, which currently does not exist in the Bulgaria, so that the risks and the damages that could occur during the exploitation of small photovoltaic plants could be identified and the investment in such technology – justified.

  5. Maintenance risk management in Dayabay nuclear power plant

    International Nuclear Information System (INIS)

    He Xuhong; Tong Jiejuan

    2005-01-01

    The importance of proper maintenance to safe and reliable nuclear plant operation has long been recognized by the nuclear utility and regulatory body. This paper presents a process of maintenance risk management developed for a Chinese Nuclear Power Plant (NPP). The process includes three phases: (I) long term maintenance plan risk management, (II) monthly maintenance plan risk management, and (III) detailed risk management for high risk configuration. A risk matrix is developed for phase I whose purpose is to provide a rough guide for risk management in the making of the annual maintenance plan. For Phase II and Phase III, a software tool named Maintenance- Risk-Monitor is developed based on the internal initiating event, level 1 PSA model. The results of Phase II are the risk information of the all plant configurations caused by the unavailability of the components included the monthly maintenance plan. When the increase of core damage frequency (CDF) or the incremental core damage probability (ICDP) of a configuration is higher than the corresponding thresholds, Phase III is needed for this high risk configuration to get the useful information such as risk-importance components, human actions and initial events, from which appropriate preventive measurements could be derived. It is hoped that the provided process of maintenance risk management, together with the developed software tool, could facilitate the maintenance activities in the NPPs of China. (authors)

  6. Role of NDT in risk management

    International Nuclear Information System (INIS)

    Porter, Jr. James F.

    2009-01-01

    Risk management is identifying and then managing threats that could severely affect or bring down a company. This involves reviewing the operations of the company to include the process, equipment, procedures and personnel. Potential threats are then identified including their probability of occurrence, and then taking appropriate actions to address the most likely threats. Traditionally, risk management was thought of as mostly getting the right insurance. However, this impression of risk management has changed dramatically. With the recent increase in rules and regulations and optimizing utilization of key resources, risk management is becoming a management practice that is as important as financial or facilities management. In ideal risk management, a prioritization process is followed whereby the risks with the greatest loss and greatest probability of occurring are handled first, and risks with lower probability of occurrence and lower loss are handled in descending order. In practice the process can be very difficult, and balancing between risks with a high probability of occurrence but lower loss versus a risk with high but lower probability of occurrence can often be mishandled. (author)

  7. Risk Management and Uncertainty in Infrastructure Projects

    DEFF Research Database (Denmark)

    Harty, Chris; Neerup Themsen, Tim; Tryggestad, Kjell

    2014-01-01

    The assumption that large complex projects should be managed in order to reduce uncertainty and increase predictability is not new. What is relatively new, however, is that uncertainty reduction can and should be obtained through formal risk management approaches. We question both assumptions...... by addressing a more fundamental question about the role of knowledge in current risk management practices. Inquiries into the predominant approaches to risk management in large infrastructure and construction projects reveal their assumptions about knowledge and we discuss the ramifications these have...... for project and construction management. Our argument and claim is that predominant risk management approaches tends to reinforce conventional ideas of project control whilst undermining other notions of value and relevance of built assets and project management process. These approaches fail to consider...

  8. RISK LOAN PORTFOLIO OPTIMIZATION MODEL BASED ON CVAR RISK MEASURE

    Directory of Open Access Journals (Sweden)

    Ming-Chang LEE

    2015-07-01

    Full Text Available In order to achieve commercial banks liquidity, safety and profitability objective requirements, loan portfolio risk analysis based optimization decisions are rational allocation of assets.  The risk analysis and asset allocation are the key technology of banking and risk management.  The aim of this paper, build a loan portfolio optimization model based on risk analysis.  Loan portfolio rate of return by using Value-at-Risk (VaR and Conditional Value-at-Risk (CVaR constraint optimization decision model reflects the bank's risk tolerance, and the potential loss of direct control of the bank.  In this paper, it analyze a general risk management model applied to portfolio problems with VaR and CVaR risk measures by using Using the Lagrangian Algorithm.  This paper solves the highly difficult problem by matrix operation method.  Therefore, the combination of this paper is easy understanding the portfolio problems with VaR and CVaR risk model is a hyperbola in mean-standard deviation space.  It is easy calculation in proposed method.

  9. Feasibility of community-based screening for cardiovascular disease risk in an ethnic community: the South Asian Cardiovascular Health Assessment and Management Program (SA-CHAMP).

    Science.gov (United States)

    Jones, Charlotte A; Nanji, Alykhan; Mawani, Shefina; Davachi, Shahnaz; Ross, Leanne; Vollman, Ardene; Aggarwal, Sandeep; King-Shier, Kathryn; Campbell, Norman

    2013-02-21

    South Asian Canadians experience disproportionately high rates of cardiovascular disease (CVD). The goal of this qualitative study was to determine the feasibility of implementing a sustainable, culturally adapted, community-based CVD risk factor screening program for this population. South Asians (≥ 45 years) in Calgary, Alberta underwent opportunistic cardiovascular risk factor screening by lay trained volunteers at local religious facilities. Those with elevated blood pressure (BP) or ≥ 1 risk factor underwent point of care cholesterol testing, 10-year CVD risk calculation, counseling, and referral to family physicians and local culturally tailored chronic disease management (CDM) programs. Participants were invited for re-screening and were surveyed about health system follow-up, satisfaction with the program and suggestions for improvement. Changes in risk factors from baseline were estimated using McNemar's test (proportions) and paired t-tests (continuous measures). Baseline assessment was completed for 238 participants (median age 64 years, 51% female). Mean TC, HDL and TC/HDL were 5.41 mmol/L, 1.12 mmol/L and 4.7, respectively. Mean systolic and diastolic blood pressures (mmHg) were 129 and 75 respectively. Blood pressure and TC/HDL ratios exceeded recommended targets in 36% and 58%, respectively, and 76% were at high risk for CVD. Ninety-nine participants (47% female) attended re-screening. 82% had accessed health care providers, 22% reported medication changes and 3.5% had attended the CDM programs. While BP remained unchanged, TC and TC/HDL decreased and HDL increased significantly (mean differences: -0.52 mmol/L, -1.04 and +0.07 mmol/L, respectively). Participants were very satisfied (80%) or satisfied (20%) with the project. Participants suggested screening sessions and CDM programs be more accessible by: delivering evening or weekends programs at more sites, providing transportation, offering multilingual programs/translation assistance, reducing

  10. Risk assessment and model for community-based construction ...

    African Journals Online (AJOL)

    It, therefore, becomes necessary to systematically manage uncertainty in community-based construction in order to increase the likelihood of meeting project objectives using necessary risk management strategies. Risk management, which is an iterative process due to the dynamic nature of many risks, follows three main ...

  11. Managing IT Integration Risk in Acquisitions

    DEFF Research Database (Denmark)

    Henningsson, Stefan; Kettinger, William J.

    2016-01-01

    The article discusses a framework for evaluating risk of information technology (IT) integration in acquisitions. Topics include the use of the experience of serial acquirer Trelleborg AB to show the merits of the framework for managing the risk and to determine low-risk acquisitions, the importa......The article discusses a framework for evaluating risk of information technology (IT) integration in acquisitions. Topics include the use of the experience of serial acquirer Trelleborg AB to show the merits of the framework for managing the risk and to determine low-risk acquisitions...

  12. Cardiovascular risk management after reproductive and pregnancy-related disorders : A Dutch multidisciplinary evidence-based guideline

    NARCIS (Netherlands)

    Heida, Karst Y.; Bots, Michiel L.; de Groot, Christianne J. M.; van Dunne, Frederique M.; Hammoud, Nurah M.; Hoek, Annemiek; Laven, Joop S. E.; Maas, Angela H. E. M.; van Lennep, Jeanine E. Roeters; Velthuis, Birgitta K.; Franx, Arie

    2016-01-01

    Background In the past decades evidence has accumulated that women with reproductive and pregnancy-related disorders are at increased risk of developing cardiovascular disease (CVD) in the future. Up to now there is no standardised follow-up of these women becausee guidelines on cardiovascular risk

  13. Development of a risk-based environmental management tool for drilling discharges. Summary of a four-year project

    NARCIS (Netherlands)

    Singsaas, I.; Rye, H.; Frost, T.K.; Smit, M.G.D.; Garpestad, E.

    2008-01-01

    This paper briefly summarizes the ERMS project and presents the developed model by showing results from environmental fates and risk calculations of a discharge from offshore drilling operations. The developed model calculates environmental risks for the water column and sediments resulting from

  14. INVENTORY AND RISK MANAGEMENT: DECREASING DELIVERY RISK OF PURCHASERS

    Directory of Open Access Journals (Sweden)

    Grzegorz MICHALSKI

    2008-12-01

    Full Text Available The basic financial purpose of an enterprise is maximization of its value. Inventory management should also contribute to realization of this fundamental aim. The enterprise value maximization strategy is executed with a focus on risk and uncertainty. This article presents the consequences for the recipients firm that can result from operating risk that is related to delivery risk generated by the suppliers. The present article offers a method that uses portfolio management theory to choose the suppliers.

  15. Analysis of interactions among barriers in project risk management

    Science.gov (United States)

    Dandage, Rahul V.; Mantha, Shankar S.; Rane, Santosh B.; Bhoola, Vanita

    2017-06-01

    In the context of the scope, time, cost, and quality constraints, failure is not uncommon in project management. While small projects have 70% chances of success, large projects virtually have no chance of meeting the quadruple constraints. While there is no dearth of research on project risk management, the manifestation of barriers to project risk management is a less dwelt topic. The success of project management is oftentimes based on the understanding of barriers to effective risk management, application of appropriate risk management methodology, proactive leadership to avoid barriers, workers' attitude, adequate resources, organizational culture, and involvement of top management. This paper represents various risk categories and barriers to risk management in domestic and international projects through literature survey and feedback from project professionals. After analysing the various modelling methods used in project risk management literature, interpretive structural modelling (ISM) and MICMAC analysis have been used to analyse interactions among the barriers and prioritize them. The analysis indicates that lack of top management support, lack of formal training, and lack of addressing cultural differences are the high priority barriers, among many others.

  16. Analysis of interactions among barriers in project risk management

    Science.gov (United States)

    Dandage, Rahul V.; Mantha, Shankar S.; Rane, Santosh B.; Bhoola, Vanita

    2018-03-01

    In the context of the scope, time, cost, and quality constraints, failure is not uncommon in project management. While small projects have 70% chances of success, large projects virtually have no chance of meeting the quadruple constraints. While there is no dearth of research on project risk management, the manifestation of barriers to project risk management is a less dwelt topic. The success of project management is oftentimes based on the understanding of barriers to effective risk management, application of appropriate risk management methodology, proactive leadership to avoid barriers, workers' attitude, adequate resources, organizational culture, and involvement of top management. This paper represents various risk categories and barriers to risk management in domestic and international projects through literature survey and feedback from project professionals. After analysing the various modelling methods used in project risk management literature, interpretive structural modelling (ISM) and MICMAC analysis have been used to analyse interactions among the barriers and prioritize them. The analysis indicates that lack of top management support, lack of formal training, and lack of addressing cultural differences are the high priority barriers, among many others.

  17. Caries management by risk assessment: A review on current strategies for caries prevention and management

    OpenAIRE

    Maheswari, S. Uma; Raja, Jacob; Kumar, Arvind; Seelan, R. Gnana

    2015-01-01

    The current trend in treating dental caries is using nondestructive risk-based caries management strategies rather than focusing on the restorative treatment alone. Currently, there have been many changes in understanding of the multifaceted nature of caries process and its management. Caries Management by Risk Assessment (CAMBRA) which is an evidence-based approach focuses on determining many factors causing the expression of disease and take corrective action. The clinicians can ascertain w...

  18. Model risk analysis for risk management and option pricing

    NARCIS (Netherlands)

    Kerkhof, F.L.J.

    2003-01-01

    Due to the growing complexity of products in financial markets, market participants rely more and more on quantitative models for trading and risk management decisions. This introduces a fairly new type of risk, namely, model risk. In the first part of this thesis we investigate the quantitative

  19. Managing Actuaries\\' Professional Risk | Lowther | South African ...

    African Journals Online (AJOL)

    This paper describes a new concept, of vital importance to actuaries, which the authors have named \\'managing actuaries\\' professional risk\\'. Much has been written on the constituent elements of legal causation, risk management, indemnity insurance and professional conduct standards. This paper envisages an ...

  20. Emerging carbon constraints for corporate risk management

    International Nuclear Information System (INIS)

    Busch, Timo; Hoffmann, Volker H.

    2007-01-01

    While discussions about global sustainability challenges abound, the financial risks that they incur, albeit important, have received less attention. We suggest that corporate risk assessments should include sustainability-related aspects, especially with relation to the natural environment, and encompass the flux of critical materials within a company's value chain. Such a comprehensive risk assessment takes into account input- as well as output-related factors. With this paper, we focus on the flux of carbon and define carbon constraints that emerge due to the disposition of fossil fuels in the input dimension and due to direct and indirect climate change effects in the output dimension. We review the literature regarding the financial consequences of carbon constraints on the macroeconomic, sector, and company level. We conclude that: a) financial consequences seem to be asymmetrically distributed between and within sectors, b) the individual risk exposure of companies depends on the intensity of and dependency on carbon-based materials and energy, and c) financial markets have only started to incorporate these aspects in their valuations. This paper ends with recommendations on how to incorporate our results in an integrated carbon risk management framework. (author)

  1. Bayesian probabilistic network approach for managing earthquake risks of cities

    DEFF Research Database (Denmark)

    Bayraktarli, Yahya; Faber, Michael

    2011-01-01

    This paper considers the application of Bayesian probabilistic networks (BPNs) to large-scale risk based decision making in regard to earthquake risks. A recently developed risk management framework is outlined which utilises Bayesian probabilistic modelling, generic indicator based risk models...... and a fourth module on the consequences of an earthquake. Each of these modules is integrated into a BPN. Special attention is given to aggregated risk, i.e. the risk contribution from assets at multiple locations in a city subjected to the same earthquake. The application of the methodology is illustrated...

  2. Large dams and risk management

    International Nuclear Information System (INIS)

    Cazelais, N.

    2003-01-01

    In July 1996, Quebec's Saguenay region was subjected to intensive rainfall which caused severe floods and uncontrolled release of several reservoirs, resulting in extensive damage to dam structures and reservoirs. The probability of occurrence for that disaster was 1:10,000. Following the disaster, the Quebec government established a dam management body entitled the Commission scientifique et technique sur la gestion des barrages, which pointed out several safety shortcomings of existing dams. Many were either very old or had undergone significant function change without being subsequently re-evaluated. A report by the Commission stated that damage following the floods could have been limited if the design and operating standards of the dams had been more stringent. A Dam Safety Act was adopted by the Quebec National Assembly on May 30, 2000 following recommendations to retain safer structures. The Act demands regular reporting of operating procedures. Seismic activity was noted as being a topic that requires in-depth examination since Quebec's St. Lawrence Valley, particularly the Charlevoix region, is one of Canada's largest seismic zones. The other is on the west coast in British Columbia. Earthquakes in Quebec are less intense than the ones in British Columbia, but they have higher frequency content which exerts a quasi-resonance wave effect which impacts roads, bridges, buildings and hydroelectric generating facilities. Hydro-Quebec is a public utility which owns 563 retaining structures, of which 228 are ranked as large dams that measure more than 15 metres high, 400 metres long and with a reservoir capacity of more than 1 million cubic metres of water. Hydro-Quebec addresses hydrological, seismic, technological and human risks through a dam safety procedure that includes structured plans for choosing best alternatives through staged exercises. Hazard levels are minimized through the adoption of emergency, prevention and alleviation measures. The utility

  3. RISK MANAGEMENT PROCESSES IN SUPPLY CHAINS

    Directory of Open Access Journals (Sweden)

    Aleksandar Aleksić

    2009-06-01

    Full Text Available One of the keys of successful business last few years is effective dealing with risks in every meaning of that word. At the time when the world economic crisis largely limits business, successful Risk management is the only way of survival for a large number of business systems. This paper will present the processes of risk management in supply chains that are in accordance with the standards ISO 28000 and ISO 31000. By implementing a holistic, enterprise-wide supply chain risk management program, companies also can uphold their commitment to providing strong corporate governance on behalf of stakeholders and increase their market value.

  4. RISK MANAGEMENT OF INVESTMENT PORTFOLIO BY FUTURE

    Directory of Open Access Journals (Sweden)

    K. Kerimov Alexandr

    2017-01-01

    Full Text Available The article considers the problem of the dynamic risk management of the investment portfolio using future con- tracts. The management starts with the concept of effective inhomogeneous portfolios, which contain futures together with underlying asserts. The effective portfolios are defined as the ones of the minimal dispersion with the expected return greater or equal to the specified value. Risk is measured by the probability of losing of a certain part of the portfolio value. The control parameters are the number of futures for each asset of portfolio, which is defined from the condition of effec- tiveness of portfolio and risk acceptability on each step.The effective adaptive strategies of portfolio risk management together with comparative analysis on a concrete example are presented. The proposed approach provides the forecast correction of the expected income and its variance for the assets with the emergence of new data. The financial time series are determined by volatility clustering, i.e. relative or absolute price changes tend to keep high or low magnitude for some time, with the result that clusters are created - periods of high or low volatility. Then adaptive estimate of correlational relationships between asset prices are essential because the degree of correlational relationship also changes in time. So the correlation of future and spot price changes considerably increases while approaching to performance of contracts. For taking into account of data instability of dispersion and correlation simple methods of volatility forecasting and correlation of relative changes of price data based on exponential smoothing are implemented.

  5. Sustainable flood risk management – What is sustainable?

    DEFF Research Database (Denmark)

    Sørup, Hjalte Jomo Danielsen; Brudler, Sarah; Lerer, Sara Maria

    2016-01-01

    Sustainable flood risk management has to be achieved since flood protection is a fundamental societal service that we must deliver. Based on the discourse within the fields of risk management and sustainable urban water management, we discuss the necessity of assessing the sustainability of flood...... risk management, and propose an evaluation framework for doing so. We argue that it is necessary to include quantitative sustainability measures in flood risk management in order to exclude unsustainable solutions. Furthermore, we use the concept of absolute sustainability to discuss the prospects...... of maintaining current service levels without compromising future generation’s entitlement of services. Discussions on the sustainability of different overall flood risk schemes must take place. Fundamental changes in the approaches will require fundamental changes in the mind-sets of practitioners as well...

  6. Risk, innovation and change : design propositions for implementing risk management in organizations

    NARCIS (Netherlands)

    van Staveren, Martinus Theodorus

    2009-01-01

    This Ph.D. research generated unique design propositions for implementing existing risk management methodologies in organizations. The resulting design propositions incorporate a synthesis of risk management, innovation management and change management. True implementation of risk management is

  7. ePORT, NASA's Computer Database Program for System Safety Risk Management Oversight (Electronic Project Online Risk Tool)

    Science.gov (United States)

    Johnson, Paul W.

    2008-01-01

    ePORT (electronic Project Online Risk Tool) provides a systematic approach to using an electronic database program to manage a program/project risk management processes. This presentation will briefly cover the standard risk management procedures, then thoroughly cover NASA's Risk Management tool called ePORT. This electronic Project Online Risk Tool (ePORT) is a web-based risk management program that provides a common framework to capture and manage risks, independent of a programs/projects size and budget. It is used to thoroughly cover the risk management paradigm providing standardized evaluation criterion for common management reporting, ePORT improves Product Line, Center and Corporate Management insight, simplifies program/project manager reporting, and maintains an archive of data for historical reference.

  8. Integrated Risk and Knowledge Management Program -- IRKM-P

    Science.gov (United States)

    Lengyel, David M.

    2009-01-01

    The NASA Exploration Systems Mission Directorate (ESMD) IRKM-P tightly couples risk management and knowledge management processes and tools to produce an effective "modern" work environment. IRKM-P objectives include: (1) to learn lessons from past and current programs (Apollo, Space Shuttle, and the International Space Station); (2) to generate and share new engineering design, operations, and management best practices through preexisting Continuous Risk Management (CRM) procedures and knowledge-management practices; and (3) to infuse those lessons and best practices into current activities. The conceptual framework of the IRKM-P is based on the assumption that risks highlight potential knowledge gaps that might be mitigated through one or more knowledge management practices or artifacts. These same risks also serve as cues for collection of knowledge particularly, knowledge of technical or programmatic challenges that might recur.

  9. Risk Management in the Implementation of Smart Building Projects

    Directory of Open Access Journals (Sweden)

    Kankhva Vadim

    2017-01-01

    Full Text Available This article contains the results of a study of the risk control structure in the implementation of smart building projects, which are presented herein in the form of an operational risk management mechanism developed by the author and an improved definition of the risk management system. The mechanism is developed based on the analysis of a review of the current state of the construction sector and the existing organizational structures of construction companies, as well as based on the identification of new necessary functions and objectives of risk management systems. The results of the study can be used in the process of development and integration of risk management systems by the existing construction companies specialized in the construction of smart buildings.

  10. Decisionmaking under risk in invasive species management: risk management theory and applications

    Science.gov (United States)

    Shefali V. Mehta; Robert G. Haight; Frances R. Homans

    2010-01-01

    Invasive species management is closely entwined with the assessment and management of risk that arises from the inherently random nature of the invasion process. The theory and application of risk management for invasive species with an economic perspective is reviewed in this synthesis. Invasive species management can be delineated into three general categories:...

  11. Influence of green supply chain risk management on performance of Chinese manufacturing enterprises

    Science.gov (United States)

    Zhang, Dongying; Yuting, Duan; Junyi, Shen

    2017-12-01

    This paper briefly introduces the background of the research on the impact of green supply chain risk management on corporate performance, reviews the relevant research literature at home and abroad, and uses the gray relational analysis to analyze the impact of the green supply chain risk management on enterprise performance based on 26 industry-related statistical data, from purchasing risk management performance,manufacturing risk management performance and marketing risk management performance.

  12. Internal audit risk management in metropolitan municipalities

    Directory of Open Access Journals (Sweden)

    Christo Ackermann

    2016-07-01

    Full Text Available Internal audit functions (IAFs of organisations are regarded as crucial components of the combined assurance model, alongside the audit committee, management and external auditors. The combined assurance model aims at having integrated and aligned assurance in organisations with the overall aim of maximising risk and governance oversight and control efficiencies. In this regard, internal audit plays a crucial role, insofar as it consists of experts in risk, governance and control consultancy who provide assurance to senior management and the audit committee. Audit committees are dependent on internal audit for information and their effectiveness revolves around a strong and well-resourced internal audit function which is able to aid audit committees to meet their oversight responsibilities. There is thus a growing demand for managing risk through the process of risk management and internal audit is in a perfect position to assist with the improvement of such processes. If internal auditors wish to continue being an important aspect of the combined assurance model, they need to address the critical area, amongst others, of risk management as part of their work. If not, it follows that the board, audit committees and other levels of management will remain uninformed on the status of these matters which, in turn, will negatively impact the ability of these stakeholders to discharge their responsibilities. This study therefore focuses on analysing the functioning of IAFs, with specific reference to their risk management mandate. The study followed a mixed method approach to describe internal audits risk management functioning in the big eight metropolitan municipalities in South Africa. The results show that internal audit provide a broad scope of risk management work which assist senior management in the discharge of their responsibilities. However, in the public eye, internal audits risk management functioning is scant

  13. Best practice vendor risk management in today's interconnected world.

    Science.gov (United States)

    Beale, Ian

    2017-01-01

    This paper explains why vendor/third-party risk is so important to all organisations, as well as the principal risks that organisations must consider. It describes the responsibility of management to manage these risks with support from risk experts at the selection phase and through the ongoing relationship. Different sources of information about the management of the key risks and alternative ways of collecting the data are evaluated. The paper concludes by discussing how both customer and supplier organisations benefit from a balanced approach to risk management. The approach described in the paper applies to organisations of all types and sizes and can be applied to varied supply chains. The data and insights are based on research conducted by CEB.

  14. Risk assessment and management logistics chains

    Directory of Open Access Journals (Sweden)

    Vladimir Vikulov

    2014-03-01

    Full Text Available Background: In the context of economic globalization and increasing complexity of economic relations enterprises need methods and techniques to improve and sustain their position on the global market. Integration processes offer business new opportunities, but at the same time present new challenges for the management, including the key objectives of the risk management. Method: On the basis of analysis tools known from the pertinent literature (Supply Chain Management and Supply Chain Risk Management methods, methods of probability theory, methods of risk management, methods of statistics the authors of this paper proposed their own risk assessment method and the method of management of logistics chains. The proposed tool is a specific hybrid of solutions known from the literature. Results: The presented method has been successfully used within the frames of economic-mathematical model of industrial enterprises. Indicators of supply chain risks, including risks caused by supplier are considered in this paper. Authors formed a method of optimizing the level of supply chain risk in the integration with suppliers and customers. Conclusion: Every organization, which starting the process of integration with supplier and customers, needs to use tools, methodologies and techniques for identification of "weak links" in the supply chain. The proposed method allows to fix risk origin places in various links of the supply chain and to identify "weak links" of a logistic chain that may occur in the future. The method is a useful tool for managing not only risks and risk situations, but also to improve the efficiency of current assets management by providing the ability to optimize the level of risk in the current assets management of the industrial enterprise.

  15. LIQUIDITY RISK MANAGEMENT IN CRISIS CONDITIONS

    Directory of Open Access Journals (Sweden)

    Matis Eugenia

    2010-12-01

    Full Text Available In order to measure the liquidity risk we have developed an analysis model, based on stress-testing scenarios, that shows the ability of the bank to face different types of liquidity crisis. The scenarios were designed for each balance sheet position for assets and liabilities: Ordinary Course of Business, Name Crisis (Mild Name Crisis and Severe Name Crisis, Market Crisis (Mild Market Crisis and Severe Market Crisis that reflects banking sector crisis and persistent recession. This offers a dynamic image about the banks liquidity in report with different types of liquidity scenarios, but also about the time horizon of analyze. The research also wants to highlight the most significant features to consider in order to implement an effective liquidity risk management and to achieve a more integrated supervisory framework.

  16. Assessing and Managing Knowledge Loss Risk

    International Nuclear Information System (INIS)

    Dermarkar, Fred

    2013-01-01

    Summary: • Sustaining Design Basis Knowledge is a strategic need for long term safe and reliable operation; • Utilities need to manage knowledge in a systematic manner, based on identifying areas of risk, developing and implementing plans to mitigate the risk, and exercising oversight of those plans; • Approaches will differ depending upon organizational functions and needs; • Individual utility efforts are not sufficient: they need to be complemented by a larger scale infrastructure in the academic and research communities; • The Canadian nuclear industry has been collaborating to actively support and expand the academic infrastructure to sustain design basis knowledge; • KM initiatives require constant nurturing for sustainability; • Internationally recognized guidance on Characteristics, Attributes and Best Practices for governmental, industrial and academic contributions to KM is important to sustainability

  17. Desertification risk assessment and management program

    OpenAIRE

    M. Akbari; M. Ownegh; H.R. Asgari; A. Sadoddin; H. Khosravi

    2016-01-01

    Risk assessment provides the possibility of planning and management to prevent and reduce the risk of desertification. The present study is aimed to assess the hazard and risk of desertification and to develop management programs in the semi-arid western regions of Golestan Province in Iran. Desertification rate was obtained using the Iranian model of desertification potential assessment. Since the rating system was considered for the indicators, data analyses were carried out according to th...

  18. On Best Practices for Risk Management in Complex Projects

    Directory of Open Access Journals (Sweden)

    Dan BENTA

    2011-01-01

    Full Text Available Risk management shall be proactive. This is one of the key preliminaries to cope with the challenges of complex projects. An overarching and consistent view on project risks and uncertainties is necessary to follow a holistic approach in project risk management. Uncertainty is inevitable since projects are unique and temporary undertakings based on assumptions and constraints, delivering project results to multiple stakeholders with different requirements. Project management can be seen as an attempt to control this uncertain environment, through the use of structured and disciplined techniques such as estimating, planning, cost control, task allocation, earned value analysis, monitoring, and review meetings. Each of these elements of project management has a role in defining or controlling inherent variability in projects. Project risk management provides approaches by which uncertainty can be understood, assessed, and managed within projects. A number of associations (e.g., Project Management Institute – PMI®, International Project Management Association – IPMA,or Network of Nordic Project Management Associations - NORDNET work constantly in acquiring, improving, and standardizing best practices in project management.Based on the industrial practice, this paper outlines strategies to identify, prioritize, and mitigate risks for achievement of project’ or organizational objectives.

  19. Interest Rate Risk Management using Duration Gap Methodology

    Directory of Open Access Journals (Sweden)

    Dan Armeanu

    2008-01-01

    Full Text Available The world for financial institutions has changed during the last 20 years, and become riskier and more competitive-driven. After the deregulation of the financial market, banks had to take on extensive risk in order to earn sufficient returns. Interest rate volatility has increased dramatically over the past twenty-five years and for that an efficient management of this interest rate risk is strong required. In the last years banks developed a variety of methods for measuring and managing interest rate risk. From these the most frequently used in real banking life and recommended by Basel Committee are based on: Reprising Model or Funding Gap Model, Maturity Gap Model, Duration Gap Model, Static and Dynamic Simulation. The purpose of this article is to give a good understanding of duration gap model used for managing interest rate risk. The article starts with a overview of interest rate risk and explain how this type of risk should be measured and managed within an asset-liability management. Then the articles takes a short look at methods for measuring interest rate risk and after that explains and demonstrates how can be used Duration Gap Model for managing interest rate risk in banks.The world for financial institutions has changed during the last 20 years, and become riskier and more competitive-driven. After the deregulation of the financial market, banks had to take on extensive risk in order to earn sufficient returns. Interest rate volatility has increased dramatically over the past twenty-five years and for that an efficient management of this interest rate risk is strong required. In the last years banks developed a variety of methods for measuring and managing interest rate risk. From these the most frequently used in real banking life and recommended by Basel Committee are based on: Reprising Model or Funding Gap Model, Maturity Gap Model, Duration Gap Model, Static and Dynamic Simulation. The purpose of this article is to give a

  20. Risk Preferences, Probability Weighting, and Strategy Tradeoffs in Wildfire Management.

    Science.gov (United States)

    Hand, Michael S; Wibbenmeyer, Matthew J; Calkin, David E; Thompson, Matthew P

    2015-10-01

    Wildfires present a complex applied risk management environment, but relatively little attention has been paid to behavioral and cognitive responses to risk among public agency wildfire managers. This study investigates responses to risk, including probability weighting and risk aversion, in a wildfire management context using a survey-based experiment administered to federal wildfire managers. Respondents were presented with a multiattribute lottery-choice experiment where each lottery is defined by three outcome attributes: expenditures for fire suppression, damage to private property, and exposure of firefighters to the risk of aviation-related fatalities. Respondents choose one of two strategies, each of which includes "good" (low cost/low damage) and "bad" (high cost/high damage) outcomes that occur with varying probabilities. The choice task also incorporates an information framing experiment to test whether information about fatality risk to firefighters alters managers' responses to risk. Results suggest that managers exhibit risk aversion and nonlinear probability weighting, which can result in choices that do not minimize expected expenditures, property damage, or firefighter exposure. Information framing tends to result in choices that reduce the risk of aviation fatalities, but exacerbates nonlinear probability weighting. © 2015 Society for Risk Analysis.

  1. Risks in hospitals. Assessment and Management

    Directory of Open Access Journals (Sweden)

    Bradea Ioana-Alexandra

    2014-12-01

    Full Text Available In a complex world, characterized by a multitude of risks, managers need to manage the risks they encounter, in an efficient way and in the shortest time possible. In the current economic crisis, the concept of hospital risk management, as the process in which is identified, analyzed, reduced, or avoided a risk that may affect the hospital, gained great importance. The Romanian health system, distinguished by: lack of transparency, poor funding, the loss of the valuable medical staff, lack of hospitals in villages and small towns, inability to engage patients due to the old and poor equipment, lack of research and problems in information privacy and cyber-security, requires an appropriate management, enabling risk managers to take decisions in order to avoid the occurrence of risks. Important for the functioning of every hospital is the perception of patients and their degree of satisfaction, regarding the quality of services, which depend largely on the quality of human resources. But what are the human resources weaknesses and risks from the patient point of view? What are the risk indicators which must be monitored to avoid risks? And also, which is the most useful method for measurement and assessment of risk?

  2. Managing the risk of injury in sport.

    Science.gov (United States)

    Fuller, Colin W

    2007-05-01

    Because the risk of injury in many sports is high, governing bodies and individuals involved with these sports have a responsibility to manage the risks at acceptable levels. Risk management provides a structured framework within which risks can be identified, evaluated, assessed, and controlled through appropriate mitigation strategies. Exploring inferences obtained from the relationship between risk and the incidence and severity of injury contributes to the understanding and control of risks in sport. Studies related to intrinsic and extrinsic risk factors should be focused on determining which factors cause an athlete's risk level to fall within the high-risk or low-risk regions of the population's risk distribution. Risk values can be used to derive risk contours, which illustrate the interdependence of incidence and severity on the development of effective risk mitigation strategies. The wide variation in the levels of risk across different sports is used to demonstrate the impact that athletes' perception and acceptance of risk have on their choice of sport. Finally, the use of incidence and severity data for predicting the prevalence of injury in a team and for the economic evaluation of intervention programmes is discussed.

  3. Managing health and safety risks: Implications for tailoring health and safety management system practices.

    Science.gov (United States)

    Willmer, D R; Haas, E J

    2016-01-01

    As national and international health and safety management system (HSMS) standards are voluntarily accepted or regulated into practice, organizations are making an effort to modify and integrate strategic elements of a connected management system into their daily risk management practices. In high-risk industries such as mining, that effort takes on added importance. The mining industry has long recognized the importance of a more integrated approach to recognizing and responding to site-specific risks, encouraging the adoption of a risk-based management framework. Recently, the U.S. National Mining Association led the development of an industry-specific HSMS built on the strategic frameworks of ANSI: Z10, OHSAS 18001, The American Chemistry Council's Responsible Care, and ILO-OSH 2001. All of these standards provide strategic guidance and focus on how to incorporate a plan-do-check-act cycle into the identification, management and evaluation of worksite risks. This paper details an exploratory study into whether practices associated with executing a risk-based management framework are visible through the actions of an organization's site-level management of health and safety risks. The results of this study show ways that site-level leaders manage day-to-day risk at their operations that can be characterized according to practices associated with a risk-based management framework. Having tangible operational examples of day-to-day risk management can serve as a starting point for evaluating field-level risk assessment efforts and their alignment to overall company efforts at effective risk mitigation through a HSMS or other processes.

  4. Managing Risks in Distributed Software Projects: An Integrative Framework

    DEFF Research Database (Denmark)

    Persson, John Stouby; Mathiassen, Lars; Boeg, Jesper

    2009-01-01

    Software projects are increasingly geographically distributed with limited face-to-face interaction between participants. These projects face particular challenges that need carefulmanagerial attention. While risk management has been adopted with success to address other challenges within software...... development, there are currently no frameworks available for managing risks related to geographical distribution. On this background, we systematically review the literature on geographically distributed software projects. Based on the review, we synthesize what we know about risks and risk resolution...... techniques into an integrative framework for managing risks in distributed contexts. Subsequent implementation of a Web-based tool helped us refine the framework based on empirical evaluation of its practical usefulness.We conclude by discussing implications for both research and practice....

  5. Surveying perceptions of landslide risk management in Norway

    Science.gov (United States)

    Chiu, Jessica Ka Yi; Eidsvig, Unni

    2016-04-01

    Enhanced precipitation due to climate change leads to increase in both frequency and intensity of landslides in Norway. A proactive approach to risk management is therefore required to significantly reduce the losses associated with landslides. Opinions and perceptions from practitioners on the performance of landslide risk management can provide insights on areas for improvement in the landslide risk management strategies in Norway. The Risk Management Index (RMI), proposed by Cardona et al. (2004), is a well-established method to measure perceptions of disaster management of selected actors holistically. The RMI is measured based on opinion questionnaires to technical staff, decision-makers, and stakeholders involved in all stages of risk reduction strategies. It is a composite index that considers a wide variety of strategies to manage risks, including structural and non-structural measures, acceptance strategies, disaster management, and risk transfer. The RMI method was modified to be implemented in landslide hazards and to fit with Norwegian conditions. An opinion survey was conducted in autumn 2015 to measure perceptions of landslide risk management in Norway. Perceptions were surveyed for two time periods: 2015 and 2050, and are based on national, county, and municipality levels. Based on the survey results, performance of landslide risk management at any administrative levels in Norway is perceived to improve from `significant' in 2015 to `significant' to `outstanding' in 2050. Knowledge and technology, climate, risk perceptions, and anthropogenic activities are mostly considered by respondents for their 2050 perceptions. Several aspects of landslide risk management in Norway can be improved. For example, landslide hazard evaluation and mapping should be prioritised in Norway. Upgrading, retrofitting, and reconstruction of assets may also be included in the landslide risk reduction strategies. In addition, there should be more focus on inter

  6. Risk Management and Risk Psychology in Romanian Sme’s

    Directory of Open Access Journals (Sweden)

    Irina Dănciulescu

    2015-12-01

    Full Text Available Risk is one of the biggest and most fascinating challenges of all times for humanity, because of its presence in all fields. Risk management as a component of modern management, has become a main concern for the modern world and one of the “key mechanisms” of economic development, a complex processn that includes a series of activities meant to alleviate the impact of risk over business and planed or foreseen results. This paper wants to bring to attention the importance of risks and their management in today’s economic crisis. The sector presented is the IT& C, especially software, because Romania had a growth in this area for a few years but beginning the crisis this segment in economy had known a serious decrease. This paper tries to connect risk management and risk psychology to Romanian economy, culture and mentality. The paper presents in short some of risk management characteristics, definitions and few opinions; why in Romania this subject is not treated with the appropriate attention. The paper at hand focuses on the psychology of risk and how it affects the life of individuals and the existence of companies, the importance it should have on day to day basis, especially in Romania

  7. Models for assessing and managing credit risk

    Directory of Open Access Journals (Sweden)

    Neogradi Slađana

    2014-01-01

    Full Text Available This essay deals with the definition of a model for assessing and managing credit risk. Risk is an inseparable component of any average and normal credit transaction. Looking at the different aspects of the identification and classification of risk in the banking industry as well as representation of the key components of modern risk management. In the first part of the essay will analyze how the impact of credit risk on bank and empirical models for determining the financial difficulties in which the company can be found. Bank on the basis of these models can reduce number of approved risk assets. In the second part, we consider models for improving credit risk with emphasis on Basel I, II and III, and the third part, we conclude that the most appropriate model and gives the best effect for measuring credit risk in domestic banks.

  8. Local knowledge: Empirical Fact to Develop Community Based Disaster Risk Management Concept for Community Resilience at Mangkang Kulon Village, Semarang City

    Science.gov (United States)

    Kapiarsa, A. B.; Sariffuddin, S.

    2018-02-01

    Local knowledge in disaster management should not be neglected in developing community resilience. The circular relation between humans and their living habitat and community social relation have developed the local knowledge namely specialized knowledge, shared knowledge, and common knowledge. Its correlation with community-based disaster management has become an important discussion specially to answer can local knowledge underlie community-based disaster risk reduction concept development? To answer this question, this research used mix-method. Interview and crosstab method for 73 respondents with 90% trust rate were used to determine the correlation between local knowledge and community characteristics. This research found out that shared knowledge dominated community local knowledge (77%). While common knowledge and specialized knowledge were sequentially 8% and 15%. The high score of shared value (77%) indicated that local knowledge was occurred in household level and not yet indicated in community level. Shared knowledge was found in 3 phases of the resilient community in dealing with disaster, namely mitigation, emergency response, and recovery phase. This research, therefore, has opened a new scientific discussion on the self-help concept in community-help concept in CBDRM concept development in Indonesia.

  9. FINANCIAL RISK MANAGEMENT IN TRADE BANKS

    Directory of Open Access Journals (Sweden)

    Ms. Tamara Ye. Kononenko

    2016-09-01

    Full Text Available The paper clarifies the concepts of «risk», «financial risk» in banking business, and considers the main problems of financial risk management in trade banks while financing borrowers. The authors single out the most relevant problems, and conduct the analysis of overdue payment in case of OJSC “Sberbank of Russia”. The authors also offer a number of measures to minimize financial risks in trade bank activities in modern conditions.

  10. Individual Risk Management for Digital Payment Systems

    OpenAIRE

    M. Reichenbach; T. Grzebiela; T. Koltzsch; I. Pippow

    2002-01-01

    Despite existing security standards and security technologies, such as secure hardware, gaps between users’ demand for security and the security offered by a payment system can still remain. These security gaps imply risks for users. In this paper, we introduce a framework for the management of those risks. As a result, we present an instrument enabling users to evaluate eventual risks related with digital payment systems and to handle these risks with technical and economic instruments.

  11. Quality Risk Management of Compliant Excipients

    Directory of Open Access Journals (Sweden)

    Brian Carlin

    2012-12-01

    Full Text Available Raw material compliance and GMP do not eliminate variability. Quality by Design should minimize the risk that raw material variability will adversely affect the finished product Critical Quality Attributes. The sources of technological risk from excipients are reviewed and approaches to excipient risk management are discussed. Supplier involvement throughout the product life-cycle is recommended to minimize excipient-related risk.

  12. Towards risk-based management of critical infrastructures : enabling insights and analysis methodologies from a focused study of the bulk power grid.

    Energy Technology Data Exchange (ETDEWEB)

    Richardson, Bryan T.; LaViolette, Randall A.; Cook, Benjamin Koger

    2008-02-01

    This report summarizes research on a holistic analysis framework to assess and manage risks in complex infrastructures, with a specific focus on the bulk electric power grid (grid). A comprehensive model of the grid is described that can approximate the coupled dynamics of its physical, control, and market components. New realism is achieved in a power simulator extended to include relevant control features such as relays. The simulator was applied to understand failure mechanisms in the grid. Results suggest that the implementation of simple controls might significantly alter the distribution of cascade failures in power systems. The absence of cascade failures in our results raises questions about the underlying failure mechanisms responsible for widespread outages, and specifically whether these outages are due to a system effect or large-scale component degradation. Finally, a new agent-based market model for bilateral trades in the short-term bulk power market is presented and compared against industry observations.

  13. Risk Management in Biologics Technology Transfer.

    Science.gov (United States)

    Toso, Robert; Tsang, Jonathan; Xie, Jasmina; Hohwald, Stephen; Bain, David; Willison-Parry, Derek

    Technology transfer of biological products is a complex process that is important for product commercialization. To achieve a successful technology transfer, the risks that arise from changes throughout the project must be managed. Iterative risk analysis and mitigation tools can be used to both evaluate and reduce risk. The technology transfer stage gate model is used as an example tool to help manage risks derived from both designed process change and unplanned changes that arise due to unforeseen circumstances. The strategy of risk assessment for a change can be tailored to the type of change. In addition, a cross-functional team and centralized documentation helps maximize risk management efficiency to achieve a successful technology transfer. © PDA, Inc. 2016.

  14. The use of molecular-based risk stratification and pharmacogenomics for outcome prediction and personalized therapeutic management of multiple myeloma.

    Science.gov (United States)

    Johnson, Sarah K; Heuck, Christoph J; Albino, Anthony P; Qu, Pingping; Zhang, Qing; Barlogie, Bart; Shaughnessy, John D

    2011-10-01

    Despite improvement in therapeutic efficacy, multiple myeloma (MM) remains incurable with a median survival of approximately 10 years. Gene-expression profiling (GEP) can be used to elucidate the molecular basis for resistance to chemotherapy through global assessment of molecular alterations that exist at diagnosis, after therapeutic treatment and that evolve during tumor progression. Unique GEP signatures associated with recurrent chromosomal translocations and ploidy changes have defined molecular classes with differing clinical features and outcomes. When compared to other stratification systems the GEP70 test remained a significant predictor of outcome, reduced the number of patients classified with a poor prognosis, and identified patients at increased risk of relapse despite their standard clinico-pathologic and genetic findings. GEP studies of serial samples showed that risk increases over time, with relapsed disease showing GEP shifts toward a signature of poor outcomes. GEP signatures of myeloma cells after therapy were prognostic for event-free and overall survival and thus may be used to identify novel strategies for overcoming drug resistance. This brief review will focus on the use of GEP of MM to define high-risk myeloma, and elucidate underlying mechanisms that are beginning to change clinical decision-making and inform drug design.

  15. Risk management and safety culture

    International Nuclear Information System (INIS)

    Takano, K.

    2007-01-01

    Paper informs on the efforts to elaborate a feedback system for risk comprehensive evaluation and a system to improve structure safety foreseeing the possibility to control the latent risk, ensuring the qualitative evaluation of the safety level and improvement of safety culture in various branches of industry, first and foremost, in the electricity producing sector including the nuclear power industry [ru

  16. Managers facing the climatic risks

    International Nuclear Information System (INIS)

    2003-01-01

    This colloquium aimed to analyze the relations between the climatic changes and extreme meteorological events and on the associated risks. It provides information and knowledge on the state of the art concerning the today scientific knowledge, the prevention measures and the adaptation facing the risks and the difficult estimation of the climatic damages costs. (A.L.B.)

  17. How Can Every Organization Manage the Operational Risk?

    Directory of Open Access Journals (Sweden)

    Ferry Jie

    2002-03-01

    Full Text Available This article describe how every organization (generally and Australian Organizations (specifically can manage the operational risks.  Recently, the operational risks are the significant issues in every organization because every organization will suffer from poor operational performance due to risks, failure, and problems such as a number of losses which are likely to be made worse. Basically, the operational risk management process has five steps, identification, analysis, treatment, controlling, and communication/consulting. Generally, many organizations (in particularly in Australia and New Zealand have already used AS/NZS 4360-Risk Management System, AS/NZS 4801-Occupational Health and Safety Management System, ISO 14001: Effective Environmental Management System, ISO 9001: Quality Management System, AS/NZS 7799: Information Security Management, AS/NZS 3806: Compliance Management System for reducing/mitigating/managing the operational risks. Based on the SAI Certification Register, the number of Australian Organizations got the AS/NZS ISO 9000 series, AS/NZS 14000 series, AS/NZS 4801 and AS/NZS 7799.2:2000 Certifications are 3338, 30, 20 and 5 respectively. It can conclude that Australian Organizations prefer used AS/NZS ISO 9000 series rather than AS/NZS ISO 14000 series, AS/NZS 4801 and AS/NZS 7799.2:2000.

  18. Credit risk management in the power sector

    International Nuclear Information System (INIS)

    Allen, D.

    2002-01-01

    Deregulation of the electric power industry has the potential to put power businesses at market risk particularly when the value of an asset or liability will change with market movements. Market risk gives rise to credit risk where a contract cannot be fulfilled. This presentation describes how credit risks can be identified and measured. Most practitioners use some variant of value-at-risk (VAR) technology for measuring market risk. Under this approach, risk is determined by the volatility implied by the market. Volatility of electricity prices and natural gas prices has increased significantly in Alberta in recent years. The consequence is an increase in both market and credit risk. The author described the difference between the two risks and their significance. An overview of credit risk management with derivatives, an over-the counter contract, was also presented. The author also discusses issue of protection buyers in the event of a failed contract. 9 figs

  19. ASCOT data base management system

    Energy Technology Data Exchange (ETDEWEB)

    Barbieri, J.; Nyholm, R.; Castro, C.; Hill, K.

    1980-07-01

    The ASCOT data base management system is designed to handle the data produced by both the experimental and theoretical efforts of the DOE Atmospheric Studies in Complex Terrain (ASCOT) project. The data base envisioned is hierarchically structured, sparse, and compact. Information concerning any given data file is stored in a directory file. The data base management system uses a relational data management approach. Presently three management schema are being developed for use with the data base. 5 figures.

  20. SYSTEM APPROACH AT RISK MANAGEMENT OF THE AUTOSERVICE ENTERPRISE

    Directory of Open Access Journals (Sweden)

    Irina MAKAROVA

    2013-12-01

    Full Text Available In the article methods of control over risks of the service enterprises during creation of customer-oriented firm service system are analyzed. It is shown that system approach to risk management ensures the adoption of science-based solutions, minimizes consequences of risk situations. One of ways to calculate an integrated indicator of the risk of loss of the service enterprise competitiveness is described. Variants of the risk assessment to reduce the effectiveness of service enterprises by monitoring indicators based on the results of their monitoring are given.