Growing pains: How risk perception and risk communication research can help to manage the challenges of global population growth.

Science.gov (United States)

Dawson, Ian G J; Johnson, Johnnie E V

2014-08-01

In 2011, the global human population reached 7 billion and medium variant projections indicate that it will exceed 9 billion before 2045. Theoretical and empirical perspectives suggest that this growth could lead to an increase in the likelihood of adverse events (e.g., food shortages, climate change, etc.) and/or the severity of adverse events (e.g., famines, natural disasters, etc.). Several scholars have posited that the size to which the global population grows and the extent to which this growth increases the likelihood of adverse outcomes will largely be shaped by individuals' decisions (in households, organizations, governments, etc.). In light of the strong relationship between perceived risk and decision behaviors, it is surprising that there remains a dearth of empirical research that specifically examines the perceived risks of population growth and how these perceptions might influence related decisions. In an attempt to motivate this important strand of research, this article examines the major risks that may be exacerbated by global population growth and draws upon empirical work concerning the perception and communication of risk to identify potential directions for future research. The article also considers how individuals might perceive both the risks and benefits of population growth and be helped to better understand and address the related issues. The answers to these questions could help humanity better manage the emerging consequences of its continuing success in increasing infant survival and adult longevity. © 2014 Society for Risk Analysis.

Risk Management Standards: Towards a contemporary, organisation-wide management approach

OpenAIRE

Koutsoukis, Nikitas-Spiros

2010-01-01

Risk management has been progressively evolving into a systemic approach for organisational decision making in today’s dynamic economic environment of the global era. In this context, risk management is reaching beyond its traditional finance and insurance application context and is entering the sphere of generic, organisation-wide management approaches. In support of this argument we consider four generic risk management standards issued at the institutional, national or international level...

Transparent Global Seismic Hazard and Risk Assessment

Science.gov (United States)

Smolka, Anselm; Schneider, John; Pinho, Rui; Crowley, Helen

2013-04-01

Vulnerability to earthquakes is increasing, yet advanced reliable risk assessment tools and data are inaccessible to most, despite being a critical basis for managing risk. Also, there are few, if any, global standards that allow us to compare risk between various locations. The Global Earthquake Model (GEM) is a unique collaborative effort that aims to provide organizations and individuals with tools and resources for transparent assessment of earthquake risk anywhere in the world. By pooling data, knowledge and people, GEM acts as an international forum for collaboration and exchange, and leverages the knowledge of leading experts for the benefit of society. Sharing of data and risk information, best practices, and approaches across the globe is key to assessing risk more effectively. Through global projects, open-source IT development and collaborations with more than 10 regions, leading experts are collaboratively developing unique global datasets, best practice, open tools and models for seismic hazard and risk assessment. Guided by the needs and experiences of governments, companies and citizens at large, they work in continuous interaction with the wider community. A continuously expanding public-private partnership constitutes the GEM Foundation, which drives the collaborative GEM effort. An integrated and holistic approach to risk is key to GEM's risk assessment platform, OpenQuake, that integrates all above-mentioned contributions and will become available towards the end of 2014. Stakeholders worldwide will be able to calculate, visualise and investigate earthquake risk, capture new data and to share their findings for joint learning. Homogenized information on hazard can be combined with data on exposure (buildings, population) and data on their vulnerability, for loss assessment around the globe. Furthermore, for a true integrated view of seismic risk, users can add social vulnerability and resilience indices to maps and estimate the costs and benefits

The Functions of Sourcing Intermediaries in Global Supply Risk Management

DEFF Research Database (Denmark)

Vedel, Mette; Ellegaard, Chris

The aim of this work-in-progress paper is to uncover the supply risk management functions performed by sourcing intermediaries. The purchasing and supply chain management literature, including the part of it concerned with supply risk, pays little attention to sourcing intermediaries....... But the fields of marketing and international business have investigated the intermediary including its high supply risk reducing potentials, suggesting that this supply chain entity may be highly relevant to supply risk management. In order to get a better understanding of the supply risk reducing properties...... of sourcing intermediaries, we perform a study of the Danish clothing industry. The study incorporate interviews across a range of functions and companies in this industry including retailers, producers, suppliers, and various types of intermediaries. We contribute by coupling the supply risk management...

Managing Food Quality Risk in Global Supply Chain: A Risk Management Framework

OpenAIRE

Arevalo Chavez, Pablo Jose; Seow, Christopher

2012-01-01

Today, the food sector is one of the sectors most vulnerable to intentional contamination by debilitating agents [1]. Some cases of contaminated food have indicated that product quality risk is one of the vulnerabilities in the global supply chain. A series of company scandals, affecting reputation and causing the recall of products and increasing costs have hit the food industry. The obvious problem is that even a minor incident in one part of the chain can have disastrous effects on other p...

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.

Global projections of drought hazard in a warming climate: a prime for disaster risk management

Science.gov (United States)

Carrão, Hugo; Naumann, Gustavo; Barbosa, Paulo

2018-03-01

Projections of drought hazard ( dH) changes have been mapped from five bias-corrected climate models and analyzed at the global level under three representative concentration pathways (RCPs). The motivation for this study is the observation that drought risk is increasing globally and the effective regulation of prevention and adaptation measures depends on dH magnitude and its distribution for the future. Based on the Weighted Anomaly of Standardized Precipitation index, dH changes have been assessed for mid-(2021-2050) and late-century (2071-2099). With a few exceptions, results show a likely increase in global dH between the historical years (1971-2000) and both future time periods under all RCPs. Notwithstanding this worsening trend, it was found that projections of dH changes for most regions are neither robust nor significant in the near-future. By the end of the century, greater increases are projected for RCPs describing stronger radiative forcing. Under RCP8.5, statistically significant dH changes emerge for global Mediterranean ecosystems and the Amazon region, which are identified as possible hotspots for future water security issues. Taken together, projections of dH changes point towards two dilemmas: (1) in the near-term, stake-holders are left worrying about projected increasing dH over large regions, but lack of actionable model agreement to take effective decisions related to local prevention and adaptation initiatives; (2) in the long-term, models demonstrate remarkable agreement, but stake-holders lack actionable knowledge to manage potential impacts far distant from actual human-dominated environments. We conclude that the major challenge for risk management is not to adapt human populations or their activities to dH changes, but to progress on global initiatives that mitigate their impacts in the whole carbon cycle by late-century.

Construction Management Risk System (CMRS for Construction Management (CM Firms

Directory of Open Access Journals (Sweden)

Kyungmo Park

2017-02-01

Full Text Available After the global financial crisis of 2008, the need for risk management arose because it was necessary to minimize the losses in construction management (CM firms. This was caused by a decreased amount of orders in the Korean CM market, which intensified order competition between companies. However, research results revealed that risks were not being systematically managed owing to the absence of risk management systems. Thus, it was concluded that it was necessary to develop standard operating systems and implement risk management systems in order to manage risks effectively. Therefore, the purpose of this study was to develop a construction risk management system (CRMS for systematically managing risks. For this purpose, the field operation managers of CM firms were interviewed and surveyed in order to define risk factors. Upon this, a risk assessment priority analysis was performed. Finally, a risk management system that comprised seven modules and 20 sub-modules and was capable of responding systematically to risks was proposed. Furthermore, the effectiveness of this system was verified through on-site inspection. This system allows early response to risks, accountability verification and immediate response to legal disputes with clients by managing risk records.

Global Managers

DEFF Research Database (Denmark)

Barakat, Livia L.; Lorenz, Melanie P.; Ramsey, Jase R.

2016-01-01

Purpose: – The purpose of this paper is to examine the effect of cultural intelligence (CQ) on the job performance of global managers. Design/methodology/approach: – In total, 332 global managers were surveyed from multinational companies operating in Brazil. The mediating effect of job...... satisfaction was tested on the CQ-job performance relationship. Findings: – The findings suggest that job satisfaction transmits the effect of CQ to job performance, such that global managers high in CQ exhibit more job satisfaction in an international setting, and therefore perform better at their jobs....... Practical implications: – Results imply that global managers should increase their CQ in order to improve their job satisfaction and ultimately perform better in an international context. Originality/value: – The authors make three primary contributions to the international business literature. First...

Changing Global Risk Landscape - Challenges for Risk Management (Invited)

Science.gov (United States)

Wenzel, F.

2009-12-01

The exponentially growing losses related to natural disasters on a global scale reflect a changing risk landscape that is characterized by the influence of climate change and a growing population, particularly in urban agglomerations and coastal zones. In consequence of these trends we witness (a) new hazards such as landslides due to dwindling permafrost, new patterns of strong precipitation and related floods, potential for tropical cyclones in the Mediterranean, sea level rise and others; (b) new risks related to large numbers of people in very dense urban areas, and risks related to the vulnerability of infrastructure such as energy supply, water supply, transportation, communication, etc. (c) extreme events with unprecedented size and implications. An appropriate answer to these challenges goes beyond classical views of risk assessment and protection. It must include an understanding of risk as changing with time so that risk assessment needs to be supplemented by risk monitoring. It requires decision making under high uncertainty. The risks (i.e. potentials for future losses) of extreme events are not only high but also very difficult to quantify, as they are characterized by high levels of uncertainty. Uncertainties relate to frequency, time of occurrence, strength and impact of extreme events but also to the coping capacities of society in response to them. The characterization, quantification, reduction in the extent possible of the uncertainties is an inherent topic of extreme event research. However, they will not disappear, so a rational approach to extreme events must include more than reducing uncertainties. It requires us to assess and rate the irreducible uncertainties, to evaluate options for mitigation under large uncertainties, and their communication to societal sectors. Thus scientist need to develop methodologies that aim at a rational approach to extreme events associated with high levels of uncertainty.

Research Synthesis Methods in an Age of Globalized Risks: Lessons from the Global Burden of Foodborne Disease Expert Elicitation

DEFF Research Database (Denmark)

Hald, Tine; Angulo, Fred; Bin Hamzah, Wan Mansor

2016-01-01

We live in an age that increasingly calls for national or regional management of global risks. This article discusses the contributions that expert elicitation can bring to efforts to manage global risks and identifies challenges faced in conducting expert elicitation at this scale. In doing so...... it draws on lessons learned from conducting an expert elicitation as part of the World Health Organizations (WHO) initiative to estimate the global burden of foodborne disease; a study commissioned by the Foodborne Disease Epidemiology Reference Group (FERG). Expert elicitation is designed to fill gaps...

A global approach to risk management: lessons from the nuclear industry

International Nuclear Information System (INIS)

Lazo, T.; Kaufer, B.

2003-01-01

The industry's nuclear safety experts are continuously striving to minimise the possible risk and extent of a nuclear accident, while nuclear regulatory, authorities work to ensure that all safety requirements are met. Relying on a combination of deterministic and probabilistic approaches, they are obtaining positive results in terms of both risk-informed regulation and nuclear safety management. This article addresses this aspect of risk management, as well as the management of radiation exposure risk. It looks into nuclear emergency planning, preparedness and management, and stresses the importance of coordinating potential protection approaches and providing effective communication should a nuclear accident occur. (authors)

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.

GLOBALIZATION AND ITS EFFECTS ON THE BANKING MANAGEMENT

Directory of Open Access Journals (Sweden)

Drăgan (Sântămărian Oana Raluca

2012-12-01

Full Text Available This paper describes one of the major challenges of the present: globalization and its effects on the banking. Globalization is now increasingly recognized as central to the growth of market economies. For the banking sector, this represents both a demand as well as a new landscape of business opportunity.Several years ago, the main part of the banks did not consider the globalization problems relevant for their operations. Recently, the banks began to realize the major impact of the globalization over the way of creating the banking risk in the future. The banking management in the context of globalization represents one of the challengesof these days. Starting from literature in the globalization field in this paper focuses on several relevant issues related to banking management.

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

Education and hypertension: impact on global cardiovascular risk.

Science.gov (United States)

Di Chiara, Tiziana; Scaglione, Alessandra; Corrao, Salvatore; Argano, Christiano; Pinto, Antonio; Scaglione, Rosario

2017-10-01

Improving cardiovascular risk prediction continues to be a major challenge and effective prevention of cardiovascular disease. Accordingly, several studies have recently reported on the role of cardiovascular risk education. This study was designed to evaluate the impact of education on global cardiovascular risk in hypertensive patients. The study population consisted of 223 consecutive hypertensive outpatients. Their educational status was categorized according to the number of years of formal education as follows: (1) low education (less than 10 years) and (2) medium-high education (10-15 years). In both groups, cardiometabolic comorbidities, global cardiovascular risk and echocardiographic measurements were analysed. Less educated hypertensive subjects were characterized by a significantly higher prevalence of patients with metabolic syndrome (MetS) (p educated hypertensive subjects. In the same subjects, a significant increase in microalbuminuria (MA) (p education (r = -0.45; p Education was independently (p education may be considered the best predictor of global cardiovascular risk in hypertensives and thus has to be evaluated in the strategies of hypertension and cardiovascular risk management.

Highly Enhanced Risk Management Emergency Satellite

DEFF Research Database (Denmark)

Dalmeir, Michael; Gataullin, Yunir; Indrajit, Agung

HERMES (Highly Enhanced Risk Management Emergency Satellite) is potential European satellite mission for global flood management, being implemented by Technical University Munich and European Space Agency. With its main instrument - a reliable and precise Synthetic Aperture Radar (SAR) antenna...

The Future Regulatory Challenges of Liquidity Risk Management

OpenAIRE

Petr Teply

2011-01-01

Liquidity risk management ranks to key concepts applied in finance. Liquidity is defined as a capacity to obtain funding when needed, while liquidity risk means as a threat to this capacity to generate cash at fair costs. In the paper we present challenges of liquidity risk management resulting from the 2007- 2009 global financial upheaval. We see five main regulatory liquidity risk management issues requiring revision in coming years: liquidity measurement, intra-day and...

GLOBAL RELATIONSHIP MANAGEMENT

OpenAIRE

Er Kirtesh Jailia; Mrs.Manisha jailia; Er.Priyanka Jailia

2010-01-01

In this paper we are going to discuss about the concept of Global relationship management. This is an important concept because now a day the whole business community is moving globally, means the geographical boundaries are of no more concern for the business communities. The global thinking of the business communities leads to the global relationship hence it is important for them to effectively manage such global relationship so that they can achieve what they want. The main concern is ove...

Global warming risk in Russia: National actions and some options for international cooperation

International Nuclear Information System (INIS)

Sokolov, V.I.

1995-01-01

In the management of global environmental risks the Russia case is a special one regarding certain specific features which determine the position of the country, particularly in a new international community emerged on the territory of the former Soviet Union, large scientific interest to the global physical processes and low interest and capabilities to deal with such risks on the part of social institutions inherited from the USSR. The largest country in the world with visible geopolitical role and probably biggest regional differences could not be ignored as a one of major players in the management of global environmental risks. The understanding of all deficiencies and positive sides of global risks management process in this country are absolutely important for extrapolating the appropriate trends in some other parts of the world. At the same time the ex-Soviet Union case shows clearly how the social learning process can radically ''change the course'', diverting to the opposite direction the social goals and preferences. Starting the studies on possibilities to change the climate for improving the human being, the former soviet society perceived the risks of human impact on climate and started to regulate it and to participate in the process of international management of global warming. The level of activity in this process on the part of Russia will however depend heavily on how much national interests will be reflected in the specific prevention measures realized by the international community

The CEOS Global Observation Strategy for Disaster Risk Management: An Enterprise Architect's View

Science.gov (United States)

Moe, K.; Evans, J. D.; Frye, S.

2013-12-01

The Committee on Earth Observation Satellites (CEOS) Working Group on Information Systems and Services (WGISS), on behalf of the Global Earth Observation System of Systems (GEOSS), is defining an enterprise architecture (known as GA.4.D) for the use of satellite observations in international disaster management. This architecture defines the scope and structure of the disaster management enterprise (based on disaster types and phases); its processes (expressed via use cases / system functions); and its core values (in particular, free and open data sharing via standard interfaces). The architecture also details how a disaster management enterprise describes, obtains, and handles earth observations and data products for decision-support; and how it draws on distributed computational services for streamlined operational capability. We have begun to apply this architecture to a new CEOS initiative, the Global Observation Strategy for Disaster Risk Management (DRM). CEOS is defining this Strategy based on the outcomes of three pilot projects focused on seismic hazards, volcanoes, and floods. These pilots offer a unique opportunity to characterize and assess the impacts (benefits / costs) of the GA.4.D architecture in practice. In particular, the DRM Floods Pilot is applying satellite-based optical and radar data to flood mitigation, warning, and response, including monitoring and modeling at regional to global scales. It is focused on serving user needs and building local institutional / technical capacity in the Caribbean, Southern Africa, and Southeast Asia. In the context of these CEOS DRM Pilots, we are characterizing where and how the GA.4D architecture helps participants to: - Understand the scope and nature of hazard events quickly and accurately - Assure timely delivery of observations into analysis, modeling, and decision-making - Streamline user access to products - Lower barriers to entry for users or suppliers - Streamline or focus field operations in

Evaluation of risk management and financial performance of BMW Group

OpenAIRE

Mysina, Amira

2017-01-01

Effective risk and financial management possess a great challenge for the multinational companies operating globally. Despite the increasing development of diverse hedging strategies against foreign exchange risk, global firms cannot fully foresee and measure the degree of the impact of foreign currency fluctuations. This paper aims to evaluate the exchange risk management and financial performance of the BMW Group from the year 2005 to 2016. Moreover, this paper is devoted to provide explana...

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

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.

ENSO impacts on flood risk at the global scale

Science.gov (United States)

Ward, Philip; Dettinger, Michael; Jongman, Brenden; Kummu, Matti; Winsemius, Hessel

2014-05-01

We present the impacts of El Niño Southern Oscillation (ENSO) on society and the economy, via relationships between ENSO and the hydrological cycle. We also discuss ways in which this knowledge can be used in disaster risk management and risk reduction. This contribution provides the most recent results of an ongoing 4-year collaborative research initiative to assess and map the impacts of large scale interannual climate variability on flood hazard and risk at the global scale. We have examined anomalies in flood risk between ENSO phases, whereby flood risk is expressed in terms of indicators such as: annual expected damage; annual expected affected population; annual expected affected Gross Domestic Product (GDP). We show that large anomalies in flood risk occur during El Niño or La Niña years in basins covering large parts of the Earth's surface. These anomalies reach statistical significance river basins covering almost two-thirds of the Earth's surface. Particularly strong anomalies exist in southern Africa, parts of western Africa, Australia, parts of Central Eurasia (especially for El Niño), the western USA (especially La Niña anomalies), and parts of South America. We relate these anomalies to possible causal relationships between ENSO and flood hazard, using both modelled and observed data on flood occurrence and extremity. The implications for flood risk management are many-fold. In those regions where disaster risk is strongly influenced by ENSO, the potential predictably of ENSO could be used to develop probabilistic flood risk projections with lead times up to several seasons. Such data could be used by the insurance industry in managing risk portfolios and by multinational companies for assessing the robustness of their supply chains to potential flood-related interruptions. Seasonal forecasts of ENSO influence of peak flows could also allow for improved flood early warning and regulation by dam operators, which could also reduce overall risks

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.

Managing Global Customers

NARCIS (Netherlands)

G.S. Yip (George)

2009-01-01

textabstractMultinational companies need to manage their relationships with multinational customers in a globally integrated approach. This paper provides a systematic framework for developing and implementing such global customer management programmes. The paper is based on Chapter 1 of George S.

A SURVEY OF INTERNATIONAL FINANCIAL RISK MANAGEMENT SYSTEM

Directory of Open Access Journals (Sweden)

SETHI Narayan

2013-12-01

Full Text Available Rising global competition, increasing deregulation, and introduction of innovative products have pushed financial risk management to the forefront of today's financial landscape. Identification of different types of risks and effective management of these risks in the international financial system would help to alleviate crisis, financial losses and also helpful to the long term success of all the financial institutions. The present study aims to analyze different types of risk management strategies and throws some light on challenges and opportunities regarding implementation of Basel-II in international financial system. The present paper also attempts to discuss the different methods and techniques used to measure financial risk management. There are three types of risk faced by all financial institutions: market risk, credit risk and operational risk. In commercial banking, credit risk is the biggest risk; in investment banking, its market risk; and in asset management, it’s operational risk.

Supply Chain Risk Management: An Introduction to the Credible Threat

Science.gov (United States)

2016-08-01

van.poindexter@dau.mil. Figure 3. Trusted Suppliers Source: “ Managing Information Communications Technology Global Supply Chain Risk Awareness...Defense AT&L: July-August 2016 18 Supply Chain Risk Management An Introduction to the Credible Threat Heath Ferry n Van Poindexter 19...cybersecurity breach. This article examines the elements of supply chain risk management , the national security risks associated with exploitation, and

Climate Change and Risk Management: Challenges for Insurance, Adaptation, and Loss Estimation

OpenAIRE

Kousky, Carolyn; Cooke, Roger

2009-01-01

Adapting to climate change will not only require responding to the physical effects of global warming, but will also require adapting the way we conceptualize, measure, and manage risks. Climate change is creating new risks, altering the risks we already face, and also, importantly, impacting the interdependencies between these risks. In this paper we focus on three particular phenomena of climate related risks that will require a change in our thinking about risk management: global micro-cor...

When Do Companies Need a Board-Level Risk Management Committee?

OpenAIRE

Choi, Ivan

2013-01-01

Risk management is nothing new. But the global financial crisis and corporate failures in recent years have put risk management in the spotlight. Who is ultimately responsible for it? Responsibility for risk management should start in the boardroom, as the board is ultimately responsible for the organization's decision making, business performance, and value creation, all of which are asso...

Global building inventory for earthquake loss estimation and risk management

Science.gov (United States)

Jaiswal, Kishor; Wald, David; Porter, Keith

2010-01-01

We develop a global database of building inventories using taxonomy of global building types for use in near-real-time post-earthquake loss estimation and pre-earthquake risk analysis, for the U.S. Geological Survey’s Prompt Assessment of Global Earthquakes for Response (PAGER) program. The database is available for public use, subject to peer review, scrutiny, and open enhancement. On a country-by-country level, it contains estimates of the distribution of building types categorized by material, lateral force resisting system, and occupancy type (residential or nonresidential, urban or rural). The database draws on and harmonizes numerous sources: (1) UN statistics, (2) UN Habitat’s demographic and health survey (DHS) database, (3) national housing censuses, (4) the World Housing Encyclopedia and (5) other literature.

Contemporary Management and Control of Uncomplicated Hypertension in Canada: Insight From the Primary Care Audit of Global Risk Management (PARADIGM) Study.

Science.gov (United States)

Gupta, Milan; Szmitko, Paul; Singh, Narendra; Tsigoulis, Michelle; Kajil, Mahesh; Stone, James

2015-05-01

Although clinical practice guidelines for the management of hypertension exist in Canada, the rate of contemporary blood pressure (BP) control remains unclear. In the Primary Care Audit of Global Risk Management (PARADIGM) study, 3015 healthy, middle-aged Canadians, free of cardiovascular disease (CVD) or diabetes were evaluated. In this analysis, we characterized the CVD risk factors, treatment patterns, and BP control rates in subjects with uncomplicated hypertension. A total of 917 subjects (30.4%) had a diagnosis of hypertension. The median age was 59 ± 8 years. The mean treated systolic/diastolic BP were 134 ± 14 mm Hg/82 ± 9 mm Hg, respectively. CVD risk factors included past/current smoking (35.9%), abdominal obesity (62.5%), and dyslipidemia (59.4%). Using the Framingham Risk Score, 20.4%, 41.0%, and 38.5% of the subjects were at low, intermediate, and high risk, respectively. Of the 88% with treated hypertension, 46.9%, 38.7%, and 14.3% received 1, 2, or ≥3 drugs, respectively. The rate of BP control was 57.4% (systolic BP Risk Score, and was lower in patients with metabolic syndrome vs those without (P risk factors are prevalent in Canadians with uncomplicated hypertension. BP control was modest (57.4%) and was lowest in patients prescribed diuretic monotherapy and in those at highest CVD risk. Despite the success of national hypertension strategies, enhanced efforts are warranted to improve BP control in Canada. Copyright © 2015 Canadian Cardiovascular Society. Published by Elsevier Inc. All rights reserved.

Integrated Global Nuclear Materials Management Preliminary Concepts

International Nuclear Information System (INIS)

Jones, E; Dreicer, M.

2006-01-01

The world is at a turning point, moving away from the Cold War nuclear legacy towards a future global nuclear enterprise; and this presents a transformational challenge for nuclear materials management. Achieving safety and security during this transition is complicated by the diversified spectrum of threat 'players' that has greatly impacted nonproliferation, counterterrorism, and homeland security requirements. Rogue states and non-state actors no longer need self-contained national nuclear expertise, materials, and equipment due to availability from various sources in the nuclear market, thereby reducing the time, effort and cost for acquiring a nuclear weapon (i.e., manifestations of latency). The terrorist threat has changed the nature of military and national security requirements to protect these materials. An Integrated Global Nuclear Materials Management (IGNMM) approach would address the existing legacy nuclear materials and the evolution towards a nuclear energy future, while strengthening a regime to prevent nuclear weapon proliferation. In this paper, some preliminary concepts and studies of IGNMM will be presented. A systematic analysis of nuclear materials, activities, and controls can lead to a tractable, integrated global nuclear materials management architecture that can help remediate the past and manage the future. A systems approach is best suited to achieve multi-dimensional and interdependent solutions, including comprehensive, end-to-end capabilities; coordinated diverse elements for enhanced functionality with economy; and translation of goals/objectives or standards into locally optimized solutions. A risk-informed basis is excellent for evaluating system alternatives and performances, and it is especially appropriate for the security arena. Risk management strategies--such as defense-in-depth, diversity, and control quality--help to weave together various technologies and practices into a strong and robust security fabric. Effective

Risk Management of the English Universities after the 2008 Financial Crisis

Science.gov (United States)

Yokoyama, Keiko

2018-01-01

The objective of the paper is to identify whether the global financial crisis in 2008 re-shaped risk management in the English universities in order to avoid future financial turbulence and manage risk in uncertain and insecure environments. The paper examined changes in the risk management mechanism of the English university system between 2008…

Global Account Management

DEFF Research Database (Denmark)

Hollensen, Svend; Wulff, Vlad Stefan

2012-01-01

Global account management (GAM) has become a critical issue for many multinational corporations that compete in a fast changing global market environment. In this article, we approach GAM from a benchlearning perspective, synthesize selected literature and examine case studies in order to underline...... the importance of multilevel relationships in strategic business-to-business relationships. The purpose of this study is to address various issues related to multilevel relationships in strategic partnerships (e.g. the recruitment of the global account manager and his supporting team, turf wars and compensation...

COMPARATIVE STUDY BETWEEN TRADITIONAL AND ENTERPRISE RISK MANAGEMENT -A THEORETICAL APPROACH

Directory of Open Access Journals (Sweden)

Cican Simona-Iulia

2014-07-01

Full Text Available The complexity, volatility and unpredictability of the current economic environment are a daily reminder that organizations face many risks. The traditional approach, according to which risk is a necessary evil which must be removed, is no longer sufficient and that is why companies nowadays are forced to spend significant resources to manage risks. Risk transparency is what one looks for; therefore, identification and management of risks within an organization become increasingly necessary for success and longevity. Risk approach has a major role in a company’s ability to avoid, reduce and turn risks into opportunities. Enterprise risk management is a new concept that revolutionizes the traditional approach and summarizes risk management in an integrated, comprehensive and strategic system. Studies use several synonyms for enterprise risk management such as integrated risk management, holistic risk management, global risk management and strategic risk management. Enterprise risk management implements at the end of the last century a new way to deal with risks: the holistic approach. This risks approach – i.e. interaction of several types of risks which become increasingly threatening and varied and may cause more damage than individual risk – brings forward the need of risk management and raises issues at the highest level of company management. For a proper view on company risks, each individual risk and the possibility of risk interaction must be understood. This is essential to establish a risk classification according to their impact on the company. Traditional approach on risk management, as a management function, is limited to only threats and losses, so relatively few organizations see risks as potential earning-generated opportunities. However, risk management process is not radically changed. Enterprise risk management is an improved version of the traditional risk management, created by expanding its scope. The new risk

Global Aerospace Monitoring and Disaster Management

CERN Document Server

Menshikov, Valery A; Urlichich, Yuri M

2012-01-01

In this book, space systems are situated in the global processes of the 21st century’s information society and the role that space information systems could play in risk management is determined; methods of detecting and forecasting of both natural disasters and technogenic catastrophes and existing global and regional monitoring systems are described; and the IGMASS is introduced with its architecture and design concept and social and economic aspects and estimates of its creation, development, and utilization. Finally, results of the international symposium held in Limassol, Cyprus, in November 2009 in preparation of the IGMASS project’s submission to the United Nations are discussed.

Cyber Terrorism demands a Global Risks and Threats Strategic Management

International Nuclear Information System (INIS)

Gareva, R.

2007-01-01

The world is in the third wave of development, which is digital managed and networked. Information, which creates the knowledge is transferring thorough the Internet by exponential function. The rapid advancement of the computer technology has a great influence over the development of the critical information infrastructure, thus changing the safety environment and the national values and interests. This advancement produces threats and risks from computer perspective which are sublimated in different forms of international terrorism and particularly in cyber terrorism. The main aim of this paper is based on a thorough analysis of what is scientifically known and practiced when nowadays critical information infrastructure is in the focus of the cyber terrorism. The rapid IT development demands changes in the strategic management focus. As a result of a time-consuming theoretical and empirical research this paper suggests a methodology for strategic managing of: threats, risks and vulnerabilities. The proposed methodology is seen as a mean to increase the human security conscious in every sense of the word, and to promote the need for rules, procedures and standards establishment from the aspect of the strategic management in the new information epoch concerning. In addition, through a scientific discourse, a short attempt is made to relate Macedonian reality with the phenomenon mentioned above. The most fundamental set phrase is that the efficiency and promptly made decisions during strategic planning are a projection of the systematic organization of functions and models for managing the risks and threats of the critical information infrastructure. Hence, this paper could be seen as a perspective when taking in consideration the regional strategic management, and the cyber space vital functioning. (author)

Global Risk Diversification: An Empirical Investigation From The U. S. Perspective

OpenAIRE

H. Christine Hsu

2011-01-01

The case for global risk diversification has been built on correlations between the U.S. and international stock markets. Now that we witness how tightly the world stock markets are correlated, especially after the global financial crisis of 2008-2009, does it still make sense to diversify globally? Can the investments in global equity portfolios be protected in todays volatile markets? These questions have preoccupied a growing number of portfolio managers in recent years, as well as many of...

Managing IT-related operational risks

Directory of Open Access Journals (Sweden)

Savić Ana

2008-01-01

Full Text Available Not so long ago, information technology (IT risk occupied a small corner of operational risk - the opportunity loss from a missed IT development deadline. Today, the success of an entire financial institution may lay on managing a broad landscape of IT risks. IT risk is a potential damage to an organization's value, resulting from inadequate managing of processes and technologies. IT risk includes the failure to respond to security and privacy requirements, as well as many other issues such as: human error, internal fraud through software manipulation, external fraud by intruders, obsolesce in applications and machines, reliability issues or mismanagement. The World Economic Forum provides best information about this problem. They rank a breakdown of critical information infrastructure among the most likely core global risks, with 10-20 % likelihood over the next 10 years and potential worldwide impact of $250 billion. Sustained investment in IT - almost $1.2 trillion or 29% of 2006 private-sector capital investment in the U.S. alone fuels growing exposure to IT risk. Greg Hughes, chief strategy officer in Symantec Corp. recently claimed "IT risk management is more than using technology to solve security problems. With proper planning and broad support, it can give an organization the confidence to innovate, using IT to outdistance competitors".

Bank liquidity risk management: A South African survey to determine future change

Directory of Open Access Journals (Sweden)

S. Claassen

2012-09-01

Full Text Available In 2008 the global financial system and, more particularly, the world banking system suffered a financial crisis worse than any earlier crises. The financial crunch brought to light that liquidity risk management in banks poses a problem, and that the world’s financial institutions will have to change their current practices as it relates to this risk. Apart from the importance of liquidity and the risk that it may cause, the integrated nature of all risks made banks more aware of the fact that none of these risks can be managed in isolation. For various reasons, South African banks were not as exposed to the problems experienced in the global context. However, SA banks may have learned new lessons from the crisis and may plan to change the way they manage liquidity risk in particular, in the future. In order to determine how SA banks perceive liquidity management and liquidity risk, a survey of all SA banks was carried out. The majority of respondents indicated that the financial crisis reminded them of the importance of liquidity risk management in the South African banking system as well as the global banking system. The majority of banks rate all the liquidity risk management tools as extremely important and rate corporate governance, strategy, policy and risk tolerance, liquidity risk measurement and intra-day liquidity as their number one priority. Basel III is generally perceived as being effective, but 30% of respondents perceived it as neither effective nor ineffective, because South African banks already have similar measures in place

The evolution of global disaster risk assessments: from hazard to global change

Science.gov (United States)

Peduzzi, Pascal

2013-04-01

The perception of disaster risk as a dynamic process interlinked with global change is a fairly recent concept. It gradually emerged as an evolution from new scientific theories, currents of thinking and lessons learned from large disasters since the 1970s. The interest was further heighten, in the mid-1980s, by the Chernobyl nuclear accident and the discovery of the ozone layer hole, both bringing awareness that dangerous hazards can generate global impacts. The creation of the UN International Decade for Natural Disaster Reduction (IDNDR) and the publication of the first IPCC report in 1990 reinforced the interest for global risk assessment. First global risk models including hazard, exposure and vulnerability components were available since mid-2000s. Since then increased computation power and more refined datasets resolution, led to more numerous and sophisticated global risk models. This article presents a recent history of global disaster risk models, the current status of researches for the Global Assessment Report on Disaster Risk Reduction (GAR 2013) and future challenges and limitations for the development of next generation global disaster risk models.

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...

A global building inventory for earthquake loss estimation and risk management

Science.gov (United States)

Jaiswal, K.; Wald, D.; Porter, K.

2010-01-01

We develop a global database of building inventories using taxonomy of global building types for use in near-real-time post-earthquake loss estimation and pre-earthquake risk analysis, for the U.S. Geological Survey's Prompt Assessment of Global Earthquakes for Response (PAGER) program. The database is available for public use, subject to peer review, scrutiny, and open enhancement. On a country-by-country level, it contains estimates of the distribution of building types categorized by material, lateral force resisting system, and occupancy type (residential or nonresidential, urban or rural). The database draws on and harmonizes numerous sources: (1) UN statistics, (2) UN Habitat's demographic and health survey (DHS) database, (3) national housing censuses, (4) the World Housing Encyclopedia and (5) other literature. ?? 2010, Earthquake Engineering Research Institute.

Global risk & global challenges - Space as a game changer for socioeconomic sustainable development

Science.gov (United States)

Lehnert, Christopher; Karlsson, Evelina; Giannopapa, Christina

2017-11-01

The world's societies at the beginning of the 21st century are better off than ever before. (Gapminder, 2015) At the same time, the world is also threatened by global challenges where space as a tool has and can play a pivotal role in meeting those challenges. The challenges range from climate change, over mass unemployment, to terrorism or migration - to name but a few. Space activities have started to respond to this changing world, not only by providing a deeper understanding of our universe, but by using space as an additional sphere and sector, through which humankind can increase and secure its wealth - it is thus game changing in the way we sustain humanity's existence. This paper is meant to capture this development. In the first part, an overview is given on the risks that humankind is facing. The second part describes the way that space can be used as a tool to prevent and manage these risks. The overview in the first part is based on the examination of the most recent reports and overall strategies of key International Governmental Organisations and Non-Governmental Organisations that are involved in agenda-setting, policy formulation and implementation. The second part includes an overview on current activities of the European Space Agency (ESA) that play a role in responding to these risks. To better understand ESA's activities that contain humanity's risks, a standard classification for risks management is used, which distinguishes between four components: Identification, Assessment, Management and Communication (Renn, 2005). The analysis reveals how space activities already today play a pivotal role in all four types of risk management. Space activities contribute very tangible to the management of risks through its space mission, but also in a more indirect way, as providing the technical backbone for stable and reliable cooperation in the international governance arena, and serve as crucial economic stimulator. The overall results show that space

Benchmarking Global Food Safety Performances: The Era of Risk Intelligence.

Science.gov (United States)

Valleé, Jean-Charles Le; Charlebois, Sylvain

2015-10-01

Food safety data segmentation and limitations hamper the world's ability to select, build up, monitor, and evaluate food safety performance. Currently, there is no metric that captures the entire food safety system, and performance data are not collected strategically on a global scale. Therefore, food safety benchmarking is essential not only to help monitor ongoing performance but also to inform continued food safety system design, adoption, and implementation toward more efficient and effective food safety preparedness, responsiveness, and accountability. This comparative study identifies and evaluates common elements among global food safety systems. It provides an overall world ranking of food safety performance for 17 Organisation for Economic Co-Operation and Development (OECD) countries, illustrated by 10 indicators organized across three food safety risk governance domains: risk assessment (chemical risks, microbial risks, and national reporting on food consumption), risk management (national food safety capacities, food recalls, food traceability, and radionuclides standards), and risk communication (allergenic risks, labeling, and public trust). Results show all countries have very high food safety standards, but Canada and Ireland, followed by France, earned excellent grades relative to their peers. However, any subsequent global ranking study should consider the development of survey instruments to gather adequate and comparable national evidence on food safety.

Risk assessment concept in the new approach directives and its integration in the Enterprise Risk Management (ERM

Directory of Open Access Journals (Sweden)

Đapić Mirko

2012-03-01

Full Text Available In the nineties years of the previous century, the European Union achieved, through introducing the New and Global Approach to technical harmonization and standardization, a significant improvement in the approach to conformity assessment of products, by integrating the requirements for technical products safety into the process of its designing. This was achieved by preventive analyzing and quantifying of risk levels in the design process with the objective of determining the scope of the needed safety systems. On the other hand, we have witnessed a rapid development and implementation of holistic approaches to risks management in enterprises, unified in the modern business practice by the name of Enterprise Risk Management (ERM. Going along that line, the paper presents, through the basis of the EU New and Global Approach, the concept of risk assessment in the New Approach directives (Machinery, Lifts, ATEX, etc and provides the concept of its integration into the holistic approach of risks management in enterprises, such as ERM.

Globalization of pediatric transplantation: The risk of tuberculosis or not tuberculosis.

Science.gov (United States)

McCulloch, Mignon; Lin, Philana Ling

2017-05-01

The risk of TB among pediatric SOT recipients increases as the globalization of medical care continues to broaden. Unlike adults, children and especially infants are more susceptible to TB as a complication after transplantation. Little data exist regarding the true incidence of TB and the optimal risk-based management of this very vulnerable population. Here, we highlight the theoretical and practical issues that complicate the management of these patients and pose some questions that should be addressed when managing these patients. More data are needed to provide optimal guidance of the best diagnostic and management practices to this unique population. © 2017 John Wiley & Sons A/S. Published by John Wiley & Sons Ltd.

An experimental system for flood risk forecasting at global scale

Science.gov (United States)

Alfieri, L.; Dottori, F.; Kalas, M.; Lorini, V.; Bianchi, A.; Hirpa, F. A.; Feyen, L.; Salamon, P.

2016-12-01

Global flood forecasting and monitoring systems are nowadays a reality and are being applied by an increasing range of users and practitioners in disaster risk management. Furthermore, there is an increasing demand from users to integrate flood early warning systems with risk based forecasts, combining streamflow estimations with expected inundated areas and flood impacts. To this end, we have developed an experimental procedure for near-real time flood mapping and impact assessment based on the daily forecasts issued by the Global Flood Awareness System (GloFAS). The methodology translates GloFAS streamflow forecasts into event-based flood hazard maps based on the predicted flow magnitude and the forecast lead time and a database of flood hazard maps with global coverage. Flood hazard maps are then combined with exposure and vulnerability information to derive flood risk. Impacts of the forecasted flood events are evaluated in terms of flood prone areas, potential economic damage, and affected population, infrastructures and cities. To further increase the reliability of the proposed methodology we integrated model-based estimations with an innovative methodology for social media monitoring, which allows for real-time verification of impact forecasts. The preliminary tests provided good results and showed the potential of the developed real-time operational procedure in helping emergency response and management. In particular, the link with social media is crucial for improving the accuracy of impact predictions.

Supply Chain Risk Management: A Conceptual Framework and Empirical Validation

OpenAIRE

Sumeet Gupta; Mark Goh; Robert De-Souza; Fanwen Meng; Miti Garg

2014-01-01

Increasing globalization of the supply chains is making them increasingly vulnerable to various supply chain risks. Effective management of these risks is essential to prevent minor as well as major risks that may occur in day-to-day operations of the firm. In this paper an attempt is made to bring out a schema for analyzing supply chain risks faced by the firm and develop a risk management action framework that would serve as a guide for practitioners to identify the level at which their fir...

Investment risk management by applying contemporary modern portfolio theory

Directory of Open Access Journals (Sweden)

Jakšić Milena

2015-01-01

Full Text Available Investment risk is the principal threat to the assets side of the balance sheets of financial institutions. It is evident that investors who concentrate their wealth on one type of securities can rarely be found. Instead, they tend to invest diversified portfolio of securities. This reduces the degree of risk of the expected return, which depends both on the absolute risk of each investment in the portfolio, and the relationship that exists between individual investments within the portfolio. The paper analyzes the investment risk management by using modern portfolio theory in both national and global financial f lows. At the same time, the paper considers the risk management models that ensures efficient portfolio diversification, aiming at investment risk reduction. It is pointed out that the investment risk management in modern financial f lows is a complex process, and that the development of financial theory goes towards improving, soft risk management method.

Marine and Hydrokinetic Technology Development Risk Management Framework

Energy Technology Data Exchange (ETDEWEB)

Snowberg, David [National Renewable Energy Lab. (NREL), Golden, CO (United States); Weber, Jochem [National Renewable Energy Lab. (NREL), Golden, CO (United States)

2015-09-01

Over the past decade, the global marine and hydrokinetic (MHK) industry has suffered a number of serious technological and commercial setbacks. To help reduce the risks of industry failures and advance the development of new technologies, the U.S. Department of Energy (DOE) and the National Renewable Energy Laboratory (NREL) developed an MHK Risk Management Framework. By addressing uncertainties, the MHK Risk Management Framework increases the likelihood of successful development of an MHK technology. It covers projects of any technical readiness level (TRL) or technical performance level (TPL) and all risk types (e.g. technological risk, regulatory risk, commercial risk) over the development cycle. This framework is intended for the development and deployment of a single MHK technology—not for multiple device deployments within a plant. This risk framework is intended to meet DOE’s risk management expectations for the MHK technology research and development efforts of the Water Power Program (see Appendix A). It also provides an overview of other relevant risk management tools and documentation.1 This framework emphasizes design and risk reviews as formal gates to ensure risks are managed throughout the technology development cycle. Section 1 presents the recommended technology development cycle, Sections 2 and 3 present tools to assess the TRL and TPL of the project, respectively. Section 4 presents a risk management process with design and risk reviews for actively managing risk within the project, and Section 5 presents a detailed description of a risk registry to collect the risk management information into one living document. Section 6 presents recommendations for collecting and using lessons learned throughout the development process.

Managing global responsibility

Energy Technology Data Exchange (ETDEWEB)

Saur, K. [Five Winds International, Donzdorf (Germany)

2004-07-01

The electronics industry in particular is a global industry. Local and regional solutions require a globally applicable product design and use global value chains. Operating in increasingly integrated material and product loops offers a unique solution to not only providing markets with compatible solutions, but also offer a chance to significantly reduce the environmental footprint of the industry. Product lifespan extension in emerging economies, utilization of local market needs, utilize available and affordable labour forces and creating wealth and capacity in developing countries may serve as a way to make industry more sustainable and successful. Both the supply side and the product end of life management need to be considered in this global industry. Intelligent solution support the dematerialization and material throughput and help creating markets and build wealth. Critical success factors include knowledge management, capacity building, developing infrastructure. This paper presents a discussion on a solutions oriented approach towards product life cycle management and stewardship combined with sustainable production and consumption considerations, support the industries aspirations and the UNEP Life Cycle Initiative's mission in a perfect manner. The aim of this paper is to offer approaches and develop ideas how economic viable and sustainable solutions can be developed. (orig.)

GLOBAL RISKS AND INSTRUMENTS OF ITS MINIMIZATION

Directory of Open Access Journals (Sweden)

O. Havryliuk

2014-06-01

Full Text Available It is argued that economic globalization leads to the formation of macro-economic, political and other risks that are able to grow into global risks affecting, without exception, all national economies, creating a serious threat to national economic security. The emphasis is on the negative elements of a set of global risks, their development and minimize the possibility of using a number of tools. Ensuring firmness of the state to external risks demands continuous monitoring and forecasting of world processes and usage of economic instruments of rapid response for prevention of negative consequences. The essence of the category of "risk" is revealed and deepened. The global risks that can not affect the economic security of Ukraine is disclosed. It is shown that the emergence of these global risks has negative impact on the economic security of Ukraine.

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.

10 rules for managing global innovation.

Science.gov (United States)

Wilson, Keeley; Doz, Yves L

2012-10-01

More and more companies recognize that their dispersed, global operations are a treasure trove of ideas and capabilities for innovation. But it's proving harder than expected to unearth those ideas or exploit those capabilities. Part of the problem is that companies manage global innovation the same way they manage traditional, single-location projects. Single-location projects draw on a large reservoir of tacit knowledge, shared context, and trust that global projects lack. The management challenge, therefore, is to replicate the positive aspects of colocation while harnessing the opportunities of dispersion. In this article, Insead's Wilson and Doz draw on research into global strategy and innovation to present a set of guidelines for setting up and managing global innovation. They explore in detail the challenges that make global projects inherently different and show how these can be overcome by applying superior project management skills across teams, fostering a strong collaborative culture, and using a robust array of communications tools.

Global Volcano Mortality Risks and Distribution

Data.gov (United States)

National Aeronautics and Space Administration — Global Volcano Mortality Risks and Distribution is a 2.5 minute grid representing global volcano mortality risks. The data set was constructed using historical...

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...

Tools and Methods for Risk Management in Multi-Site Engineering Projects

Science.gov (United States)

Zhou, Mingwei; Nemes, Laszlo; Reidsema, Carl; Ahmed, Ammar; Kayis, Berman

In today's highly global business environment, engineering and manufacturing projects often involve two or more geographically dispersed units or departments, research centers or companies. This paper attempts to identify the requirements for risk management in a multi-site engineering project environment, and presents a review of the state-of-the-art tools and methods that can be used to manage risks in multi-site engineering projects. This leads to the development of a risk management roadmap, which will underpin the design and implementation of an intelligent risk mapping system.

The Global Age NGIOA @ Risk

CERN Document Server

Pandya, Jayshree

2012-01-01

Dr. Jayshree Pandya, founder of Risk Group LLC, is ahead of the curve in addressing the changing global fundamentals of the emerging Global Age.   The Global Age, and its changing global fundamentals has brought complex, chaotic, and turbulent times for every nation—where failures on all levels have become self-evident, repetitive, destructive, and potentially hopeless in nature and uncertainty. Nations are caught off guard.   From what is visible worldwide today, the promise of progress and prosperity for all nations does not seem to have materialized in this Global Age. Instead of progress and prosperity, we see crisis and catastrophe  overpowering and overwhelming the capability of most nations to meet their promise of progress and prosperity. Nations are in crisis. This introductory book addresses the global shifts and the changing global fundamentals of the Global Age, to lay out a much needed foundation of an integrated NGIOA risk governance framework for the near future. This book will make a conv...

Global Multihazard Mortality Risks and Distribution

Data.gov (United States)

National Aeronautics and Space Administration — Global Multihazard Mortality Risks and Distribution is a 2.5 minute grid identifying and characterizing the nature of multihazard risk at the global scale. For this...

Global Drought Mortality Risks and Distribution

Data.gov (United States)

National Aeronautics and Space Administration — Global Drought Mortality Risks and Distribution is a 2.5 minute grid of global drought mortality risks. Gridded Population of the World, Version 3 (GPWv3) data...

What is a global manager?

Science.gov (United States)

Bartlett, Christopher A; Ghoshal, Sumantra

2003-08-01

Riven by ideology, religion, and mistrust, the world seems more fragmented than at any time since, arguably, World War II. But however deep the political divisions, business operations continue to span the globe, and executives still have to figure out how to run them efficiently and well. In "What Is a Global Manager?" (first published in September-October 1992), business professors Christopher Bartlett and Sumantra Ghoshal lay out a model for a management structure that balances the local, regional, and global demands placed on companies operating across the world's many borders. In the volatile world of transnational corporations, there is no such thing as a "universal" global manager, the authors say. Rather, there are three groups of specialists: business managers, country managers, and functional managers. And there are the top executives at corporate headquarters who manage the complex interactions between the three--and can identify and develop the talented executives a successful transnational requires. This kind of organizational structure characterizes a transnational rather than an old-line multinational, international, or global company. Transnationals integrate assets, resources, and diverse people in operating units around the world. Through a flexible management process, in which business, country, and functional managers form a triad of different perspectives that balance one another, transnational companies can build three strategic capabilities: global-scale efficiency and competitiveness; national-level responsiveness and flexibility; and cross-market capacity to leverage learning on a worldwide basis. Through a close look at the successful careers of Leif Johansson of Electrolux, Howard Gottlieb of NEC, and Wahib Zaki of Procter & Gamble, the authors illustrate the skills that each managerial specialist requires.

Managing perceived operational risk factors for effective supply-chain management

Science.gov (United States)

Sylla, Cheickna

2014-12-01

This research is part of a large scale comprehensive mathematical and empirical modeling investigation projects aimed at developing a better understanding of supply-chain risk management by offering a comprehensive framework including theoretical elements and empirical evidence based on managers' perception of improved organizational level of preparedness to safeguard against the threats of disruptions, delays and stoppage in the supply chain. More specifically, this paper reports the empirical investigation conducted using 92 companies in several eastern USA regions involved in international trades with global supply chains. Among the 56 general hypotheses investigated, the results support that managers strive to balance their control and decision impacts to mold their responses to risk factors with knowledge of the extent of cost consequences as stated in previous research. However, the results also propose new findings which significantly vary from previous research reports.

Knowledge Management Challenges For Global Business

OpenAIRE

Veli Denizhan Kalkan

2011-01-01

Managing organizational knowledge effectively is a prerequisite for securing competitive advantages in the global marketplace. The field of knowledge management brings out important challenges for global business practices. Based on a comprehensive academic and popular literature review, this paper identifies six main knowledge management challenges faced by global business today. These are developing a working definition of knowledge, dealing with tacit knowledge and utilization of informati...

Project Risk Management

Science.gov (United States)

Jr., R. F. Miles

1995-01-01

Project risk management is primarily concerned with performance, reliability, cost, and schedule. Environmental risk management is primarily concerned with human health and ecological hazards and likelihoods. This paper discusses project risk management and compares it to environmental risk management, both with respect to goals and implementation. The approach of the Jet Propulsion Laboratory to risk management is presented as an example of a project risk management approach that is an extension to NASA NHB 7120.5: Management of Major System Programs and Projects.

GFC-Robust Risk Management Strategies under the Basel Accord

NARCIS (Netherlands)

M.J. McAleer (Michael); J.A. Jiménez-Martín (Juan-Ángel); T. Pérez-Amaral (Teodosio)

2010-01-01

textabstractA risk management strategy is proposed as being robust to the Global Financial Crisis (GFC) by selecting a Value-at-Risk (VaR) forecast that combines the forecasts of different VaR models. The robust forecast is based on the median of the point VaR forecasts of a set of conditional

Managing the Global Supply Chain

DEFF Research Database (Denmark)

Skjøtt-Larsen, Tage; Schary, Philip B.; Mikkola, Juliana Hsuan

The world today faces global competition. The supply chain is vital part of the globalization process. Presenting a global view of the scope and complexity of supply chain management, this book reflects the rapid change that has taken place within the supply chain and its environment. This new...... edition has been fully updated with recent changes in concepts, technology and practice. Integration and collaboration are keywords in future competition. Firms must be agile and lean at the same time. The book gives an insightful overview of the conceptual foundations of the global supply chain, as...... well as current examples of best practice of managing supply chains in a global context....

Managing the Global Supply Chain

DEFF Research Database (Denmark)

Hsuan, Juliana; Skjøtt-Larsen, Tage; Kinra, Aseem

The world today faces global competition. The supply chain is vital part of the globalization process. Presenting a global view of the scope and complexity of supply chain management, this book reflects the rapid change that has taken place within the supply chain and its environment. This new...... well as current examples of best practice of managing supply chains in a global context....... edition has been fully updated with recent changes in concepts, technology and practice. Integration and collaboration are keywords in future competition. Firms must be agile and lean at the same time. The book gives an insightful overview of the conceptual foundations of the global supply chain, as...

Dams, Hydrology and Risk in Future River Management

Science.gov (United States)

Wegner, D. L.

2017-12-01

Across America there are over 80,000 large to medium dams and globally the number is in excess of 800,000. Currently there are over 1,400 dams and diversion structures being planned or under construction globally. In addition to these documented dams there are thousands of small dams populating watersheds. Governments, agencies, native tribes, private owners and regulators all have a common interest in safe dams. Often dam safety is characterized as reducing structural risk while providing for maximum operational flexibility. In the 1970's there were a number of large and small dam failures in the United States. These failures prompted the federal government to issue voluntary dam safety guidelines. These guidelines were based on historic information incorporated into a risk assessment process to analyze, evaluate and manage risk with the goal to improve the quality of and support of dam management and safety decisions. We conclude that historic and new risks need to be integrated into dam management to insure adequate safety and operational flexibility. A recent assessment of the future role of dams in the United States premises that future costs such as maintenance or removal beyond the economic design life have not been factored into the long-term operations or relicensing of dams. The converging risks associated with aging water storage infrastructure, multiple dams within watersheds and uncertainty in demands policy revisions and an updated strategic approach to dam safety. Decisions regarding the future of dams in the United States may, in turn, influence regional water planning and management. Leaders in Congress and in the states need to implement a comprehensive national water assessment and a formal analysis of the role dams play in our water future. A research and national policy agenda is proposed to assess future impacts and the design, operation, and management of watersheds and dams.

International comparative analyses of healthcare risk management.

Science.gov (United States)

Sun, Niuyun; Wang, Li; Zhou, Jun; Yuan, Qiang; Zhang, Zongjiu; Li, Youping; Liang, Minghui; Cheng, Lan; Gao, Guangming; Cui, Xiaohui

2011-02-01

Interpretation of the growing body of global literature on health care risk is compromised by a lack of common understanding and language. This series of articles aims to comprehensively compare laws and regulations, institutional management, and administration of incidence reporting systems on medical risk management in the United Kingdom, the United States, Canada, Australia, and Taiwan, so as to provide evidence and recommendations for health care risk management policy in China. We searched the official websites of the healthcare risk management agencies of the four countries and one district for laws, regulatory documents, research reports, reviews and evaluation forms concerned with healthcare risk management and assessment. Descriptive comparative analysis was performed on relevant documents. A total of 146 documents were included in this study, including 2 laws (1.4%), 17 policy documents (11.6%), 41 guidance documents (28.1%), 37 reviews (25.3%), and 49 documents giving general information (33.6%). The United States government implemented one law and one rule of patient safety management, while the United Kingdom and Australia each issued professional guidances on patient safety improvement. The four countries implemented patient safety management policy on four different levels: national, state/province, hospital, and non-governmental organization. The four countries and one district adopted four levels of patient safety management, and the administration modes can be divided into an "NGO-led mode" represented by the United States and Canada and a "government-led mode" represented by the United Kingdom, Australia, and Taiwan. © 2011 Blackwell Publishing Asia Pty Ltd and Chinese Cochrane Center, West China Hospital of Sichuan University.

Aqueduct: a methodology to measure and communicate global water risks

Science.gov (United States)

Gassert, Francis; Reig, Paul

2013-04-01

The Aqueduct Water Risk Atlas (Aqueduct) is a publicly available, global database and interactive tool that maps indicators of water related risks for decision makers worldwide. Aqueduct makes use of the latest geo-statistical modeling techniques to compute a composite index and translate the most recently available hydrological data into practical information on water related risks for companies, investors, and governments alike. Twelve global indicators are grouped into a Water Risk Framework designed in response to the growing concerns from private sector actors around water scarcity, water quality, climate change, and increasing demand for freshwater. The Aqueduct framework organizes indicators into three categories of risk that bring together multiple dimensions of water related risk into comprehensive aggregated scores and includes indicators of water stress, variability in supply, storage, flood, drought, groundwater, water quality and social conflict, addressing both spatial and temporal variation in water hazards. Indicators are selected based on relevance to water users, availability and robustness of global data sources, and expert consultation, and are collected from existing datasets or derived from a Global Land Data Assimilation System (GLDAS) based integrated water balance model. Indicators are normalized using a threshold approach, and composite scores are computed using a linear aggregation scheme that allows for dynamic weighting to capture users' unique exposure to water hazards. By providing consistent scores across the globe, the Aqueduct Water Risk Atlas enables rapid comparison across diverse aspects of water risk. Companies can use this information to prioritize actions, investors to leverage financial interest to improve water management, and governments to engage with the private sector to seek solutions for more equitable and sustainable water governance. The Aqueduct Water Risk Atlas enables practical applications of scientific data

Managers’ Support – A Key Driver behind Enterprise Risk Management Maturity

Directory of Open Access Journals (Sweden)

Sprčić Danijela Miloš

2017-04-01

Full Text Available Severe consequences of the global fi nancial crisis resulted in re-thinking the risk management processes and approaches, highlighting the need for a comprehensive risk management framework. Consequently, more and more companies are moving away from the Traditional “silo-based” Risk Management (TRM to a more holistic approach known as Enterprise Risk Management (ERM. This paper presents results of both exploratory and empirical research. First, we develop ERM Index that measures maturity of ERM process within the company. Then, we present empirical results on the level of maturity and determinants of risk management system development in listed Croatian companies. Research indicates low levels of ERM development: even 38 per cent of analysed companies have no elements of ERM system, from which 22 per cent do not manage corporate risks at all. Except the company’s size supported by the economies of scale argument, managers’ support is the most important determinant of ERM system maturity in Croatian companies.

Enterprise risk management

Energy Technology Data Exchange (ETDEWEB)

Eaton, C. [Enbridge, Calgary, AB (Canada)

2015-07-01

Enterprise risk management (ERM) is a relative new, holistic and strategic approach for managing risks in modern organizations. ERM builds on and extends traditional risk management (RM). Risk is the effect of uncertainty on objectives - positive and/or negative. Risk management is a set of practices used to understand and address risk. ERM is a form of RM that emphasizes risk aggregation and integration. Risk aggregation is combining individual risks into categories ({sup r}olled up{sup )}. risk integration is embedding RM into organizational contexts ({sup b}uilt in{sup )}.

Risk management for existing energy facilities. A global approach to numerical safety goals

International Nuclear Information System (INIS)

Pate-Cornell, M.E.

1993-01-01

This paper presents a structured set of numerical safety goals for risk management of existing energy facilities. The rationale behind these safety goals is based on principles of equity and economic efficiency. Some of the issues involved when using probabilistic risk analyses results for safety decisions are discussed. A brief review of existing safety targets and open-quotes floating numbersclose quotes is presented, and a set of safety goals for industrial risk management is proposed. Relaxation of these standards for existing facilities, the relevance of the lifetime of the plant, the treatment of uncertainties, and problems of failure dependencies are discussed briefly. 17 refs., 1 fig

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)

Cumulative Human Impacts on Coral Reefs: Assessing Risk and Management Implications for Brazilian Coral Reefs

Directory of Open Access Journals (Sweden)

Rafael A. Magris

2018-04-01

Full Text Available Effective management of coral reefs requires strategies tailored to cope with cumulative disturbances from human activities. In Brazil, where coral reefs are a priority for conservation, intensifying threats from local and global stressors are of paramount concern to management agencies. Using a cumulative impact assessment approach, our goal was to inform management actions for coral reefs in Brazil by assessing their exposure to multiple stressors (fishing, land-based activities, coastal development, mining, aquaculture, shipping, and global warming. We calculated an index of the risk to cumulative impacts: (i assuming uniform sensitivity of coral reefs to stressors; and (ii using impact weights to reflect varying tolerance levels of coral reefs to each stressor. We also predicted the index in both the presence and absence of global warming. We found that 16% and 37% of coral reefs had high to very high risk of cumulative impacts, without and with information on sensitivity respectively, and 42% of reefs had low risk to cumulative impacts from both local and global stressors. Our outputs are the first comprehensive spatial dataset of cumulative impact on coral reefs in Brazil, and show that areas requiring attention mostly corresponded to those closer to population centres. We demonstrate how the relationships between risks from local and global stressors can be used to derive strategic management actions.

Ecological risk assessment in the context of global climate change.

Science.gov (United States)

Landis, Wayne G; Durda, Judi L; Brooks, Marjorie L; Chapman, Peter M; Menzie, Charles A; Stahl, Ralph G; Stauber, Jennifer L

2013-01-01

Changes to sources, stressors, habitats, and geographic ranges; toxicological effects; end points; and uncertainty estimation require significant changes in the implementation of ecological risk assessment (ERA). Because of the lack of analog systems and circumstances in historically studied sites, there is a likelihood of type III error. As a first step, the authors propose a decision key to aid managers and risk assessors in determining when and to what extent climate change should be incorporated. Next, when global climate change is an important factor, the authors recommend seven critical changes to ERA. First, develop conceptual cause-effect diagrams that consider relevant management decisions as well as appropriate spatial and temporal scales to include both direct and indirect effects of climate change and the stressor of management interest. Second, develop assessment end points that are expressed as ecosystem services. Third, evaluate multiple stressors and nonlinear responses-include the chemicals and the stressors related to climate change. Fourth, estimate how climate change will affect or modify management options as the impacts become manifest. Fifth, consider the direction and rate of change relative to management objectives, recognizing that both positive and negative outcomes can occur. Sixth, determine the major drivers of uncertainty, estimating and bounding stochastic uncertainty spatially, temporally, and progressively. Seventh, plan for adaptive management to account for changing environmental conditions and consequent changes to ecosystem services. Good communication is essential for making risk-related information understandable and useful for managers and stakeholders to implement a successful risk-assessment and decision-making process. Copyright © 2012 SETAC.

Transient global amnesia: emergency department evaluation and management [digest].

Science.gov (United States)

Faust, Jeremy Samuel; Nemes, Andreea; Zaurova, Milana

2016-08-22

Transient global amnesia is a clinically distinct syndrome characterized by the acute inability to form new memories. It can last up to 24 hours. The diagnosis is dependent on eliminating other more serious etiologies including toxic ingestions, acute strokes, complex partial seizures, and central nervous system infections. Transient global amnesia confers no known long-term risks; however, when abnormal signs or symptoms are present, they take precedence and guide the formulation of a differential diagnosis and investigation. In witnessed transient global amnesia with classic features, a minimalist approach is reasonable, avoiding overtesting, inappropriate medication, and medical interventions in favor of observation, ensuring patient safety, and reassuring patients and their families. This review provides a detailed framework for distinguishing transient global amnesia from its dangerous mimics and managing its course in the emergency department. [Points & Pearls is a digest of Emergency Medicine Practice].

Flood risk and adaptation strategies under climate change and urban expansion: A probabilistic analysis using global data

NARCIS (Netherlands)

Muis, S.; Güneralp, B.; Jongman, B.; Aerts, J.C.J.H.; Ward, P.J.

2015-01-01

An accurate understanding of flood risk and its drivers is crucial for effective risk management. Detailed risk projections, including uncertainties, are however rarely available, particularly in developing countries. This paper presents a method that integrates recent advances in global-scale

Global Landslide Total Economic Loss Risk Deciles

Data.gov (United States)

National Aeronautics and Space Administration — Global Landslide Total Economic Loss Risk Deciles is a 2.5 minute grid of global landslide total economic loss risks. A process of spatially allocating Gross...

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.

Multi-hazard national-level risk assessment in Africa using global approaches

Science.gov (United States)

Fraser, Stuart; Jongman, Brenden; Simpson, Alanna; Murnane, Richard

2016-04-01

In recent years Sub-Saharan Africa has been characterized by unprecedented opportunity for transformation and sustained growth. However, natural disasters such as droughts, floods, cyclones, earthquakes, landslides, volcanic eruptions and extreme temperatures cause significant economic and human losses, and major development challenges. Quantitative disaster risk assessments are an important basis for governments to understand disaster risk in their country, and to develop effective risk management and risk financing solutions. However, the data-scarce nature of many Sub-Saharan African countries as well as a lack of financing for risk assessments has long prevented detailed analytics. Recent advances in globally applicable disaster risk modelling practices and data availability offer new opportunities. In December 2013 the European Union approved a € 60 million contribution to support the development of an analytical basis for risk financing and to accelerate the effective implementation of a comprehensive disaster risk reduction. The World Bank's Global Facility for Disaster Reduction and Recovery (GFDRR) was selected as the implementing partner of the Program for Result Area 5: the "Africa Disaster Risk Assessment and Financing Program." As part of this effort, the GFDRR is overseeing the production of national-level multi-hazard risk profiles for a range of countries in Sub-Saharan Africa, using a combination of national and global datasets and state-of-the-art hazard and risk assessment methodologies. In this presentation, we will highlight the analytical approach behind these assessments, and show results for the first five countries for which the assessment has been completed (Kenya, Uganda, Senegal, Niger and Ethiopia). The presentation will also demonstrate the visualization of the risk assessments into understandable and visually attractive risk profile documents.

Global Drought Total Economic Loss Risk Deciles

Data.gov (United States)

National Aeronautics and Space Administration — Global Drought Total Economic Loss Risk Deciles is a 2.5 minute grid of global drought total economic loss risks. A process of spatially allocating Gross Domestic...

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.

Globalization of Management Education

Science.gov (United States)

Bruner, Robert F.; Iannarelli, Juliane

2011-01-01

A new study, sponsored by the Association to Advance Collegiate Schools of Business, presented a comprehensive new perspective on the globalization of management education, (AACSB International, 2011). Its findings are sobering: with regard to emerging global trends in higher education and cross-border business, the report reveals a sizable gap…

Managing Radioactive Waste. Problems and Challenges in a Globalizing World

International Nuclear Information System (INIS)

2010-09-01

Many countries are at a crossroads in terms of maintaining their energy supply. The existing resources of fossil fuels are dwindling, and global warming makes their use increasingly problematic. Nuclear power is now often regarded inevitable for future sustainability, energy security, and economic prosperity. There are, however, still unsolved problems regarding nuclear power. The fact that no country has established a final waste repository for spent nuclear fuel throws fundamental doubt on nuclear energy expansion. Also, the processes of globalization have transformed the nuclear industry towards increased privatization, concentration, and internationalization. This leads to uncertainties regarding the responsibility for nuclear waste management. In these circumstances is it of greatest importance that scholars from different disciplines, as well as policy makers and practitioners within the field, meet to share experiences. This conference had the general objective of producing knowledge about the challenges caused by global developmental trends, and what the management of nuclear waste implies for contemporary and future social development. Over 100 persons attended the conferences. Papers available at the conference site have been separately indexed. Several contributions were also made as PP-presentation, which are available at the site, among others the Keynote Speeches: Waiting for the Nuclear Renaissance: Exploring the Nexus of Expansion and Disposal in Europe (Jane Dawson); Applying the Risk Governance Framework: Institutional Requirements for Dealing with Nuclear Waste (Ortwin Renn); Learning to Listen: The Long Road to Legitimating Radioactive Waste Management Policies (Frans Berkhout); The Nuclear Waste Debate is Irrational but We Need Not Panic (Frank von Hippel). The conference was divided into the following sessions: Session A: Political characteristics matters; Session B: Radioactivity, geology, society. On a problem definition of HLW-management

Managing Radioactive Waste. Problems and Challenges in a Globalizing World

Energy Technology Data Exchange (ETDEWEB)

2010-09-15

Many countries are at a crossroads in terms of maintaining their energy supply. The existing resources of fossil fuels are dwindling, and global warming makes their use increasingly problematic. Nuclear power is now often regarded inevitable for future sustainability, energy security, and economic prosperity. There are, however, still unsolved problems regarding nuclear power. The fact that no country has established a final waste repository for spent nuclear fuel throws fundamental doubt on nuclear energy expansion. Also, the processes of globalization have transformed the nuclear industry towards increased privatization, concentration, and internationalization. This leads to uncertainties regarding the responsibility for nuclear waste management. In these circumstances is it of greatest importance that scholars from different disciplines, as well as policy makers and practitioners within the field, meet to share experiences. This conference had the general objective of producing knowledge about the challenges caused by global developmental trends, and what the management of nuclear waste implies for contemporary and future social development. Over 100 persons attended the conferences. Papers available at the conference site have been separately indexed. Several contributions were also made as PP-presentation, which are available at the site, among others the Keynote Speeches: Waiting for the Nuclear Renaissance: Exploring the Nexus of Expansion and Disposal in Europe (Jane Dawson); Applying the Risk Governance Framework: Institutional Requirements for Dealing with Nuclear Waste (Ortwin Renn); Learning to Listen: The Long Road to Legitimating Radioactive Waste Management Policies (Frans Berkhout); The Nuclear Waste Debate is Irrational but We Need Not Panic (Frank von Hippel). The conference was divided into the following sessions: Session A: Political characteristics matters; Session B: Radioactivity, geology, society. On a problem definition of HLW-management

From hypertension control to global cardiovascular risk management: an educational intervention in a cluster-randomised controlled trial.

Science.gov (United States)

Mortsiefer, Achim; Meysen, Tobias; Schumacher, Martin; Abholz, Heinz-Harald; Wegscheider, Karl; In der Schmitten, Jürgen

2015-05-07

Guidelines on hypertension management recommend adjusting therapeutic efforts in accordance with global cardiovascular risk (CVR) rather than by blood pressure levels alone. However, this paradigm change has not yet arrived in German General Practice. We have evaluated the effect of an educational outreach visit with general practitioners (GPs), encouraging them to consider CVR in treatment decisions for patients with hypertension. Prospective cluster-randomised trial comprising 3443 patients with known hypertension treated by 87 GPs. Practices were randomly assigned to complex (A) or simple (B) intervention. Both groups received a guideline by mail; group A also received complex peer intervention promoting the concept of global CVR. Clinical data were collected at baseline and 6-9 months after intervention. Main outcome was improvement of calculated CVR in the predefined subpopulation of patients with a high CVR (10-year mortality ≥5%), but no manifest cardiovascular disease. Adjusted for baseline the follow-up CVR were 13.1% (95% CI 12.6%-13.6%) (A) and 12.6% (95% CI 12.2%-13.1%) (B) with a group difference (A vs. B) of 0.5% (-0.2%-1.1%), p = 0.179. The group difference was -0.05% in patients of GPs familiar with global CVR and 1.1% in patients of GPs not familiar with with global CVR. However, this effect modification was not significant (p = 0.165). Pooled over groups, the absolute CVR reduction from baseline was 1.0%, p intervention group, and from 35.6 to 46.5% in the simple intervention group, with adjusted follow-up control rates of 46.7% (95% CI 40.4%-53.1%) (A) and 46.9% (95% CI 40.3%-53.5% (B) and an adjusted odds ratio (A vs B) of 0.99 (95% CI 0.68-1.45), p = 0.966. Our complex educational intervention, including a clinical outreach visit, had no significant effect on CVR of patients with known hypertension at high risk compared to a simple postal intervention. ISRCTN44478543 .

Risk assessment and risk management of mycotoxins.

Science.gov (United States)

2012-01-01

Risk assessment is the process of quantifying the magnitude and exposure, or probability, of a harmful effect to individuals or populations from certain agents or activities. Here, we summarize the four steps of risk assessment: hazard identification, dose-response assessment, exposure assessment, and risk characterization. Risk assessments using these principles have been conducted on the major mycotoxins (aflatoxins, fumonisins, ochratoxin A, deoxynivalenol, and zearalenone) by various regulatory agencies for the purpose of setting food safety guidelines. We critically evaluate the impact of these risk assessment parameters on the estimated global burden of the associated diseases as well as the impact of regulatory measures on food supply and international trade. Apart from the well-established risk posed by aflatoxins, many uncertainties still exist about risk assessments for the other major mycotoxins, often reflecting a lack of epidemiological data. Differences exist in the risk management strategies and in the ways different governments impose regulations and technologies to reduce levels of mycotoxins in the food-chain. Regulatory measures have very little impact on remote rural and subsistence farming communities in developing countries, in contrast to developed countries, where regulations are strictly enforced to reduce and/or remove mycotoxin contamination. However, in the absence of the relevant technologies or the necessary infrastructure, we highlight simple intervention practices to reduce mycotoxin contamination in the field and/or prevent mycotoxin formation during storage.

NGNP Risk Management Database: A Model for Managing Risk

International Nuclear Information System (INIS)

Collins, John

2009-01-01

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(reg s ign) 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.

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.

The management object in risk management approaches

OpenAIRE

Christiansen, Ulrik

2013-01-01

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 an...

Global Natural Disaster Risk Hotspots: Transition to a Regional Approach

Science.gov (United States)

Lerner-Lam, A.; Chen, R.; Dilley, M.

2005-12-01

The "Hotspots Project" is a collaborative study of the global distribution and occurrence of multiple natural hazards and the associated exposures of populations and their economic output. In this study we assess the global risks of two disaster-related outcomes: mortality and economic losses. We estimate risk levels by combining hazard exposure with historical vulnerability for two indicators of elements at risk-gridded population and Gross Domestic Product (GDP) per unit area - for six major natural hazards: earthquakes, volcanoes, landslides, floods, drought, and cyclones. By calculating relative risks for each grid cell rather than for countries as a whole, we are able to estimate risk levels at sub-national scales. These can then be used to estimate aggregate relative multiple hazard risk at regional and national scales. Mortality-related risks are assessed on a 2.5' x 2.5' latitude-longitude grid of global population (GPW Version 3). Economic risks are assessed at the same resolution for gridded GDP per unit area, using World Bank estimates of GDP based on purchasing power parity. Global hazard data were compiled from multiple sources. The project collaborated directly with UNDP and UNEP, the International Research Institute for Climate Prediction (IRI) at Columbia, and the Norwegian Geotechnical Institute (NGI) in the creation of data sets for several hazards for which global data sets did not previously exist. Drought, flood and volcano hazards are characterized in terms of event frequency, storms by frequency and severity, earthquakes by frequency and ground acceleration exceedance probability, and landslides by an index derived from probability of occurrence. The global analysis undertaken in this project is clearly limited by issues of scale as well as by the availability and quality of data. For some hazards, there exist only 15- to 25-year global records with relatively crude spatial information. Data on historical disaster losses, and particularly on

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....

How to Shape Climate Risk Policies After the Paris Agreement? The Importance of Perceptions as a Driver for Climate Risk Management

Science.gov (United States)

Máñez Costa, María.; Shreve, Cheney; Carmona, María.

2017-10-01

ABSTRACTRisk perception research has played an influential role in supporting risk management and risk communication policy. Risk perception studies are popular across a range of disciplines in the social and natural sciences for a wide range of hazard types. Their results have helped to articulate the complex individual, relational, structural, and environmental factors influencing people's behavior. Connections between individual and collective behaviors and norms impacting global climate change, and consequently, local disaster risk, however, are infrequently included in disaster risk management. This paper presents results from two diverse and complementary European risk perception studies examining both natural and anthropogenic hazards. Research gaps and recommendations for developing more comprehensive risk management strategies are presented.

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

Supply Chain Disruptions Theory and Practice of Managing Risk

CERN Document Server

Mehrotra, Anuj; Ray, Saibal

2012-01-01

One of the most critical issues facing supply chain managers in today’s globalized and highly uncertain business environments is how to deal proactively with disruptions that might affect the complicated supply networks characterizing modern enterprises. Supply Chain Disruptions: Theory and Practice of Managing Risk presents a state-of the-art perspective on this particular issue. Supply Chain Disruptions: Theory and Practice of Managing Risk demonstrates that effective management of supply disruptions necessitates both strategic and tactical measures – the former involving optimal design of supply networks; the latter involving inventory, finance and demand management. It shows that managers ought to use all available levers at their disposal throughout the supply network – like sourcing and pricing strategies, providing financial subsidies, encouraging information sharing and incentive alignment between supply chain partners – in order to tackle supply disruptions. The editors combine up-to-date aca...

Enterprise risk management: Factors associated with effective implementation

Directory of Open Access Journals (Sweden)

Godson K. Mensah

2016-11-01

Full Text Available Risk management is undergoing a great change, as organizations shift from the traditional and compartmental to an enterprise wide approach. Consequently, enterprise risk management (ERM is gaining global attention among risk management professionals and academics. The demand for the adoption of ERM has led to several companies embracing it, yet its implementation has become challenging. Research shows that ERM approach emphasizes a holistic approach for assessing and evaluating the risks that an organization faces as against the “silo” approach of the traditional methods. The extant literature shows that through the reduction of the risk that an organization faces, ERM is capable of improving the performance and value. The study used a non-experimental correlational approach to explore the relationship between the presence of a chief risk officer (CRO and an audit committee (AC, and the support of top management (TM in relation to the implementation of ERM. A survey instrument was provided to self-identified risk-management professionals who are members of Survey Monkey Audience Service database. The target sample frame requested for analysis using a power of .95 was (n = 119. However, the final number analyzed was (n = 134. Frequencies and percentages were conducted on the demographic survey items and regression and correlational analyses were also performed. The study findings show that there was a significant relationship between the role of a CRO, the presence of an AC, and the support of TM and the level of ERM deployment. The study also found significant correlations between management support level and CRO, and AC. In addition, a much strong positive correlation was noted between the presence of a CRO and an AC

Improving Supply Chain Risk Management by Introducing Performance Measurement Systems

OpenAIRE

Ryding, Anna; Sahlin, Jonatan

2013-01-01

Supply chain risk management (SCRM) is a topic that gains more and more interest from both the academic and practitioner’s perspective. The reason for this is the increased complexity in the global supply chain (SC) networks and many managers do not realize the risks they build in their SC by the continuous search to cut cost and decrease tied up capital. One problem with SCRM is that it is hard to measure the performance of it and if it is really beneficial to work with it. The objective for...

Fundamentals of risk management understanding, evaluating and implementing effective risk management

CERN Document Server

Hopkin, Paul

2012-01-01

Now more than ever, organizations must plan, response and recognize all forms of risks that they face. "Fundamentals of Risk Management", now in its second edition, provides a comprehensive introduction to the subject of commercial and business risk for anyone studying for a career in risk as well as a broad range of risk professionals. It examines the key components of risk management and its application with examples to demonstrate its benefit to organisations in the public and private sector. The second edition has been completely updated to take into account the greater influence of ISO 3100, the emergence of Governance Risk and Compliance (GRC) and the wide use of the bowtie method to illustrate risk management. In addition, there is now a chapter on the skills and competencies required by an effective risk manager.

Knowledge management in support of enterprise risk management

OpenAIRE

Rodriguez, Eduardo; Edwards, John S.

2014-01-01

Risk management and knowledge management have so far been studied almost independently. The evolution of risk management to the holistic view of Enterprise Risk Management requires the destruction of barriers between organizational silos and the exchange and application of knowledge from different risk management areas. However, knowledge management has received little or no attention in risk management. This paper examines possible relationships between knowledge management constructs relate...

Global drivers of future river flood risk

Science.gov (United States)

Winsemius, Hessel C.; Aerts, Jeroen C. J. H.; van Beek, Ludovicus P. H.; Bierkens, Marc F. P.; Bouwman, Arno; Jongman, Brenden; Kwadijk, Jaap C. J.; Ligtvoet, Willem; Lucas, Paul L.; van Vuuren, Detlef P.; Ward, Philip J.

2016-04-01

Understanding global future river flood risk is a prerequisite for the quantification of climate change impacts and planning effective adaptation strategies. Existing global flood risk projections fail to integrate the combined dynamics of expected socio-economic development and climate change. We present the first global future river flood risk projections that separate the impacts of climate change and socio-economic development. The projections are based on an ensemble of climate model outputs, socio-economic scenarios, and a state-of-the-art hydrologic river flood model combined with socio-economic impact models. Globally, absolute damage may increase by up to a factor of 20 by the end of the century without action. Countries in Southeast Asia face a severe increase in flood risk. Although climate change contributes significantly to the increase in risk in Southeast Asia, we show that it is dwarfed by the effect of socio-economic growth, even after normalization for gross domestic product (GDP) growth. African countries face a strong increase in risk mainly due to socio-economic change. However, when normalized to GDP, climate change becomes by far the strongest driver. Both high- and low-income countries may benefit greatly from investing in adaptation measures, for which our analysis provides a basis.

Managing Climate Risk. Integrating Adaptation into World Bank Group Operations

International Nuclear Information System (INIS)

Van Aalst, M.

2006-08-01

climate conditions. There are several ways in which the World Bank Group can continue helping its clients better manage climate risks to poverty reduction and sustainable development: Integrating climate risk management into the project cycle, by adopting early risk identification (for instance by applying a quick and simple risk-screening tool) and following up throughout the design process if necessary. Integrating climate risk management into country and sector dialogues, especially in countries and sectors that are particularly vulnerable. Enhancing internal support for and coordination of climate risk management by, for example, expanding analytical work and capacity for cross-support by the Global Climate Change Team and the Hazard Management Unit of the World Bank and by actively developing climate risk management activities within regional departments. Supporting the establishment of proper financing mechanisms for adaptation, using, for example, the Investment Framework for Clean Energy and Development. New funding mechanisms created under the United Nations Framework Convention on Climate Change (UNFCCC) and being made operational by the Global Environment Facility (GEF), as well as the Kyoto Protocol, should be used to leverage maximum adaptation results within the Bank's broad range of development activities and investments. By enhancing climate risk management, the World Bank Group will be able to address the growing risks from climate change and, at the same time, make current development investments more resilient to climate variability and extreme weather events. In that way, climate risk management will not only guard the Bank's investments in a changing climate but will also improve the impact of development efforts right now.

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

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.

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

What Hinders the Implementation of the Supply Chain Risk Management Process Into Practice Organizations?

DEFF Research Database (Denmark)

Gredal, Pauline; Panyi, Zsófia; Kinra, Aseem

2017-01-01

Supply chain risk management process (SCRMP) is being advanced as a systematic and structured approach for identifying, assessing, mitigating, and monitoring all risks arising from complex supply chains. However, while the literature deems it necessary to implement such a process as the solution ...... indicate that the unavailability of information and lack of proper data management hinders the implementation of SCRMP in the context global supply chains.......Supply chain risk management process (SCRMP) is being advanced as a systematic and structured approach for identifying, assessing, mitigating, and monitoring all risks arising from complex supply chains. However, while the literature deems it necessary to implement such a process as the solution...... to the increasing vulnerability companies face, there is a lack of empirical evidence on whether the process model can be implemented. This paper shows possible hindrances in the implementation of SCRMP for companies with global supply chains based on the findings of an in-depth case study. Our empirical findings...

ISO 31000:2009--Setting a new standard for risk management.

Science.gov (United States)

Purdy, Grant

2010-06-01

Last year saw the publication of IS0 31000:2009, a new globally accepted standard for risk management together with a new, associated vocabulary in ISO Guide 73:2009. These were developed through a consensus-driven process over four years, through seven drafts, and involving the input of hundreds of risk management professionals around the world. The new standard supports a new, simple way of thinking about risk and risk management and is intended to begin the process of resolving the many inconsistencies and ambiguities that exist between many different approaches and definitions. While most decisionmakers seem to welcome the new standard and it has so far received very good reviews, it does create challenges for those who use language and approaches that are unique to their area of work but different from the new standard and guide. The need for compromise and change is the inevitable consequence of standardization.

Towards Cloud Computing SLA Risk Management: Issues and Challenges

OpenAIRE

Morin, Jean-Henry; Aubert, Jocelyn; Gateau, Benjamin

2012-01-01

Cloud Computing has become mainstream technology offering a commoditized approach to software, platform and infrastructure as a service over the Internet on a global scale. This raises important new security issues beyond traditional perimeter based approaches. This paper attempts to identify these issues and their corresponding challenges, proposing to use risk and Service Level Agreement (SLA) management as the basis for a service level framework to improve governance, risk and compliance i...

Global health risks and cosmopolitisation: from emergence to interference.

Science.gov (United States)

Figuié, Muriel

2013-02-01

According to Beck's 'World at Risk' theory, global risks push nations towards a cosmopolitisation of their health policy and open opportunities for a democratic turn. This article provides an empirical analysis of Beck's theory, based on the experience of Vietnamese authorities from 2003 to 2007 in managing the emerging avian flu virus. It shows how Vietnam's framing of avian flu has shifted, under the pressure from international organisations and the US administration, from an epizootic and zoonotic risk (or a classic risk) to a pandemic threat (or a late modern risk). Vietnam's response was part of its overall strategy to join the World Trade Organization and it was limited by Vietnam's defence of its sovereignty. This strategy has been successful for Vietnam but has limited the possibility of cosmopolitan and democratic transformations. The case study highlights the constructed dimension of risks of late modernity and their possible instrumentalisation: it minimises the role of a community of fear relative to a community of trade. © 2013 The Author. Sociology of Health & Illness © 2013 Foundation for the Sociology of Health & Illness/Blackwell Publishing Ltd.

Globalization and localization of Management Control Systems

DEFF Research Database (Denmark)

Toldbod, Thomas; Israelsen, Poul

2014-01-01

Through an empirical case study this article examines the operation of multiple management control systems as a package in a Danish manufacturing company. The analysis focuses on four different management control systems; cybernetic controls, planning controls, reward controls, and administrative...... have more particular characteristics. Specifically, this study finds that cybernetic controls and administrative controls are designed as global management control systems. Planning controls are glocal systems and reward & compensation controls assume local characteristics. The finding leads...... controls, through the theoretical lens of globalization, localization, and glocalization. The analysis documents that these different management control systems are affected differently by the processes of globalization and localization, whereby some are universal throughout the organization and others...

The risk of water scarcity at different levels of global warming

Science.gov (United States)

Schewe, Jacob; Sharpe, Simon

2015-04-01

Water scarcity is a threat to human well-being and economic development in many countries today. Future climate change is expected to exacerbate the global water crisis by reducing renewable freshwater resources different world regions, many of which are already dry. Studies of future water scarcity often focus on most-likely, or highest-confidence, scenarios. However, multi-model projections of water resources reveal large uncertainty ranges, which are due to different types of processes (climate, hydrology, human) and are therefore not easy to reduce. Thus, central estimates or multi-model mean results may be insufficient to inform policy and management. Here we present an alternative, risk-based approach. We use an ensemble of multiple global climate and hydrological models to quantify the likelihood of crossing a given water scarcity threshold under different levels of global warming. This approach allows assessing the risk associated with any particular, pre-defined threshold (or magnitude of change that must be avoided), regardless of whether it lies in the center or in the tails of the uncertainty distribution. We show applications of this method on the country and river basin scale, illustrate the effects of societal processes on the resulting risk estimates, and discuss the further potential of this approach for research and stakeholder dialogue.

Operationalizing resilience for adaptive coral reef management under global environmental change.

Science.gov (United States)

Anthony, Kenneth R N; Marshall, Paul A; Abdulla, Ameer; Beeden, Roger; Bergh, Chris; Black, Ryan; Eakin, C Mark; Game, Edward T; Gooch, Margaret; Graham, Nicholas A J; Green, Alison; Heron, Scott F; van Hooidonk, Ruben; Knowland, Cheryl; Mangubhai, Sangeeta; Marshall, Nadine; Maynard, Jeffrey A; McGinnity, Peter; McLeod, Elizabeth; Mumby, Peter J; Nyström, Magnus; Obura, David; Oliver, Jamie; Possingham, Hugh P; Pressey, Robert L; Rowlands, Gwilym P; Tamelander, Jerker; Wachenfeld, David; Wear, Stephanie

2015-01-01

Cumulative pressures from global climate and ocean change combined with multiple regional and local-scale stressors pose fundamental challenges to coral reef managers worldwide. Understanding how cumulative stressors affect coral reef vulnerability is critical for successful reef conservation now and in the future. In this review, we present the case that strategically managing for increased ecological resilience (capacity for stress resistance and recovery) can reduce coral reef vulnerability (risk of net decline) up to a point. Specifically, we propose an operational framework for identifying effective management levers to enhance resilience and support management decisions that reduce reef vulnerability. Building on a system understanding of biological and ecological processes that drive resilience of coral reefs in different environmental and socio-economic settings, we present an Adaptive Resilience-Based management (ARBM) framework and suggest a set of guidelines for how and where resilience can be enhanced via management interventions. We argue that press-type stressors (pollution, sedimentation, overfishing, ocean warming and acidification) are key threats to coral reef resilience by affecting processes underpinning resistance and recovery, while pulse-type (acute) stressors (e.g. storms, bleaching events, crown-of-thorns starfish outbreaks) increase the demand for resilience. We apply the framework to a set of example problems for Caribbean and Indo-Pacific reefs. A combined strategy of active risk reduction and resilience support is needed, informed by key management objectives, knowledge of reef ecosystem processes and consideration of environmental and social drivers. As climate change and ocean acidification erode the resilience and increase the vulnerability of coral reefs globally, successful adaptive management of coral reefs will become increasingly difficult. Given limited resources, on-the-ground solutions are likely to focus increasingly on

Experience-Based and Description-Based Perceptions of Long-Term Risk. Why Global Warming does not Scare us (Yet)

International Nuclear Information System (INIS)

Weber, E.U.

2006-01-01

It should come as no surprise that the governments and citizenries of many countries show little concern about climate change and its consequences. Behavioral decision research over the last 30 years provides a series of lessons about the importance of affect in perceptions of risk and in decisions to take actions that reduce or manage perceived risks. Evidence from a range of domains suggests that worry drives risk management decisions. When people fail to be alarmed about a risk or hazard, they do not take precautions. Recent personal experience strongly influences the evaluation of a risky option. Low-probability events generate less concern than their probability warrants on average, but more concern than they deserve in those rare instances when they do occur. Personal experience with noticeable and serious consequences of global warming is still rare in many regions of the world. When people base their decisions on statistical descriptions about a hazard provided by others, characteristics of the hazard identified as psychological risk dimensions predict differences in alarm or worry across different classes of risk. The time-delayed, abstract, and often statistical nature of the risks of global warming does not evoke strong visceral reactions. These results suggest that we should find ways to evoke visceral reactions towards the risk of global warming, perhaps by simulations of its concrete future consequences for people's home or other regions they visit or value. Increased concern about global warming needs to solicited carefully, however, to prevent a decrease in concern about other relevant risks. The generation of worry or concern about global warming may be a necessary but not sufficient condition for desirable or appropriate protective or mitigating behavior on part of the general public

An Application Relating To Credit Risk and Credit Risk Management in Tu rkish Banking System: The Case of Turkey Garanti Bank

Directory of Open Access Journals (Sweden)

Seyhan Çil Koçyiğit

2014-09-01

Full Text Available Within the globalization process of the world, at the competitive area arised as a result of the rapid increase in the number of banks and their branches in developing countries, the vigorously existance of banks depend on the management of the risks faced successfully. Banks must establish their credit strategies onto a good risk managment. Indeed, it is the inevitable fact that the success of financial institutions depends on having a powerful risk management system. In this study, by using the banking ratios, it is aimed to investigate the credit-risk changes of Turkish Garanti Bank (S.C. by three-month periods of 2007–2012 and give information about the risk management of Turkish Garanti Bank (S.C.. In conclusion, it is seen that, at Turkish Garanti Bank (S.C., credit risk is measured and evaluated in accordance with international standards, and all risk management is executing in parallel with Basel II regulations.

Migrants and emerging public health issues in a globalized world: threats, risks and challenges, an evidence-based framework.

Science.gov (United States)

Gushulak, Bd; Weekers, J; Macpherson, Dw

2009-01-01

International population mobility is an underlying factor in the emergence of public health threats and risks that must be managed globally. These risks are often related, but not limited, to transmissible pathogens. Mobile populations can link zones of disease emergence to lowprevalence or nonendemic areas through rapid or high-volume international movements, or both. Against this background of human movement, other global processes such as economics, trade, transportation, environment and climate change, as well as civil security influence the health impacts of disease emergence. Concurrently, global information systems, together with regulatory frameworks for disease surveillance and reporting, affect organizational and public awareness of events of potential public health significance. International regulations directed at disease mitigation and control have not kept pace with the growing challenges associated with the volume, speed, diversity, and disparity of modern patterns of human movement. The thesis that human population mobility is itself a major determinant of global public health is supported in this article by review of the published literature from the perspective of determinants of health (such as genetics/biology, behavior, environment, and socioeconomics), population-based disease prevalence differences, existing national and international health policies and regulations, as well as inter-regional shifts in population demographics and health outcomes. This paper highlights some of the emerging threats and risks to public health, identifies gaps in existing frameworks to manage health issues associated with migration, and suggests changes in approach to population mobility, globalization, and public health. The proposed integrated approach includes a broad spectrum of stakeholders ranging from individual health-care providers to policy makers and international organizations that are primarily involved in global health management, or are influenced

Implications of global climate change for the assessment and management of human health risks of chemicals in the natural environment.

Science.gov (United States)

Balbus, John M; Boxall, Alistair B A; Fenske, Richard A; McKone, Thomas E; Zeise, Lauren

2013-01-01

Global climate change (GCC) is likely to alter the degree of human exposure to pollutants and the response of human populations to these exposures, meaning that risks of pollutants could change in the future. The present study, therefore, explores how GCC might affect the different steps in the pathway from a chemical source in the environment through to impacts on human health and evaluates the implications for existing risk-assessment and management practices. In certain parts of the world, GCC is predicted to increase the level of exposure of many environmental pollutants due to direct and indirect effects on the use patterns and transport and fate of chemicals. Changes in human behavior will also affect how humans come into contact with contaminated air, water, and food. Dietary changes, psychosocial stress, and coexposure to stressors such as high temperatures are likely to increase the vulnerability of humans to chemicals. These changes are likely to have significant implications for current practices for chemical assessment. Assumptions used in current exposure-assessment models may no longer apply, and existing monitoring methods may not be robust enough to detect adverse episodic changes in exposures. Organizations responsible for the assessment and management of health risks of chemicals therefore need to be more proactive and consider the implications of GCC for their procedures and processes. Copyright © 2012 SETAC.

Upravljanje Rizicima Osiguravajućih Kompanija / Risk Management of Insurance Companies

Directory of Open Access Journals (Sweden)

Zeljić Danijela

2015-06-01

Full Text Available When providing protection to the insurees, insurance companies are faced with many risks which are classified in different ways. Risks are increasingly diverse, and the globalization of business has led to a greater probability in terms of their achievements, as well as to the high intensity of the possible consequences. Because of this the process of risk management is a major challenge of modern insurance companies.

76 FR 41525 - Hewlett Packard Global Parts Supply Chain, Global Product Life Cycles Management Unit Including...

Science.gov (United States)

2011-07-14

... Parts Supply Chain, Global Product Life Cycles Management Unit Including Teleworkers Reporting to... workers of Hewlett Packard, Global Parts Supply Chain, Global Product Life Cycles Management Unit...). Since eligible workers of Hewlett Packard, Global Parts Supply Chain, Global Product Life Cycles...

Usefulness and limitations of global flood risk models

Science.gov (United States)

Ward, Philip; Jongman, Brenden; Salamon, Peter; Simpson, Alanna; Bates, Paul; De Groeve, Tom; Muis, Sanne; Coughlan de Perez, Erin; Rudari, Roberto; Mark, Trigg; Winsemius, Hessel

2016-04-01

Global flood risk models are now a reality. Initially, their development was driven by a demand from users for first-order global assessments to identify risk hotspots. Relentless upward trends in flood damage over the last decade have enhanced interest in such assessments. The adoption of the Sendai Framework for Disaster Risk Reduction and the Warsaw International Mechanism for Loss and Damage Associated with Climate Change Impacts have made these efforts even more essential. As a result, global flood risk models are being used more and more in practice, by an increasingly large number of practitioners and decision-makers. However, they clearly have their limits compared to local models. To address these issues, a team of scientists and practitioners recently came together at the Global Flood Partnership meeting to critically assess the question 'What can('t) we do with global flood risk models?'. The results of this dialogue (Ward et al., 2013) will be presented, opening a discussion on similar broader initiatives at the science-policy interface in other natural hazards. In this contribution, examples are provided of successful applications of global flood risk models in practice (for example together with the World Bank, Red Cross, and UNISDR), and limitations and gaps between user 'wish-lists' and model capabilities are discussed. Finally, a research agenda is presented for addressing these limitations and reducing the gaps. Ward et al., 2015. Nature Climate Change, doi:10.1038/nclimate2742

Landslide risk reduction strategies: an inventory for the Global South

Science.gov (United States)

Maes, Jan; Kervyn, Matthieu; Vranken, Liesbet; Dewitte, Olivier; Vanmaercke, Matthias; Mertens, Kewan; Jacobs, Liesbet; Poesen, Jean

2015-04-01

Landslides constitute a serious problem globally. Moreover, landslide impact remains underestimated especially in the Global South. It is precisely there where the largest impact is experienced. An overview of measures taken to reduce risk of landslides in the Global South is however still lacking. Because in many countries of the Global South disaster risk reduction (DRR) is at an emerging stage, it is crucial to monitor the ongoing efforts (e.g. discussions on the Post-2015 Framework for DRR). The first objective of this study is to make an inventory of techniques and strategies that are applied to reduce risk from landslides in tropical countries. The second objective is to investigate what are the main bottlenecks for implementation of DRR strategies. In order to achieve these objectives, a review of both scientific and grey literature was conducted, supplemented with expert knowledge. The compilation of recommended and implemented DRR measures from landslide-prone tropical countries is based on an adapted classification proposed by the SafeLand project. According to Vaciago (2013), landslide risk can be reduced by either reducing the hazard, the vulnerability, the number or value of elements at risk or by sharing the residual risk. In addition, these measures can be combined with education and/or awareness raising and are influenced by governance structures and cultural beliefs. Global landslide datasets have been used to identify landslide-prone countries, augmented with region-specific datasets. Countries located in the tropics were selected in order to include landslide-prone countries with a different Human Development Index (HDI) but with a similar climate. Preliminary results support the statement made by Anderson (2013) that although the importance of shifting from post-disaster emergency actions to pre-disaster mitigation is acknowledged, in practice this paradigm shift seems rather limited. It is expected that this is especially the case in countries

Risk assessment, eradication, and biological control: global efforts to limit Australian acacia invasions

Science.gov (United States)

Wilson, John R.U.; Gairifo, Carla; Gibson, Michelle R.; Arianoutsou, Margarita; Bakar, Baki B.; Baret, Stephane; Celesti-Grapow, Laura; DiTomaso, Joseph M.; Dufour-Dror, Jean-Marc; Kueffer, Christoph; Kull, Christian A.; Hoffman, John H.; Impson, Fiona A.C.; Loope, Lloyd L.; Marchante, Elizabete; Harchante, Helia; Moore, Joslin L.; Murphy, Daniel J.; Tassin, Jacques; Witt, Arne; Zenni, Rafael D.; Richardson, David M.

2011-01-01

Aim Many Australian Acacia species have been planted around the world, some are highly valued, some are invasive, and some are both highly valued and invasive. We review global efforts to minimize the risk and limit the impact of invasions in this widely used plant group. Location Global. Methods Using information from literature sources, knowledge and experience of the authors, and the responses from a questionnaire sent to experts around the world, we reviewed: (1) a generalized life cycle of Australian acacias and how to control each life stage, (2) different management approaches and (3) what is required to help limit or prevent invasions. Results Relatively few Australian acacias have been introduced in large numbers, but all species with a long and extensive history of planting have become invasive somewhere. Australian acacias, as a group, have a high risk of becoming invasive and causing significant impacts as determined by existing assessment schemes. Moreover, in most situations, long-lived seed banks mean it is very difficult to control established infestations. Control has focused almost exclusively on widespread invaders, and eradication has rarely been attempted. Classical biological control is being used in South Africa with increasing success. Main conclusions A greater emphasis on pro-active rather than reactive management is required given the difficulties managing established invasions of Australian acacias. Adverse effects of proposed new introductions can be minimized by conducting detailed risk assessments in advance, planning for on-going monitoring and management, and ensuring resources are in place for long-term mitigation. Benign alternatives (e.g. sterile hybrids) could be developed to replace existing utilized taxa. Eradication should be set as a management goal more often to reduce the invasion debt. Introducing classical biological control agents that have a successful track-record in South Africa to other regions and identifying new

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)

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.

A New Breed of Database System: Volcano Global Risk Identification and Analysis Project (VOGRIPA)

Science.gov (United States)

Crosweller, H. S.; Sparks, R. S.; Siebert, L.

2009-12-01

VOGRIPA originated as part of the Global Risk Identification Programme (GRIP) that is being co-ordinated from the Earth Institute of Columbia University under the auspices of the United Nations and World Bank. GRIP is a five-year programme aiming at improving global knowledge about risk from natural hazards and is part of the international response to the catastrophic 2004 Asian tsunami. VOGRIPA is also a formal IAVCEI project. The objectives of VOGRIPA are to create a global database of volcanic activity, hazards and vulnerability information that can be analysed to identify locations at high risk from volcanism, gaps in knowledge about hazards and risk, and will allow scientists and disaster managers at specific locations to analyse risk within a global context of systematic information. It is this added scope of risk and vulnerability as well as hazard which sets VOGRIPA apart from most previous databases. The University of Bristol is the central coordinating centre for the project, which is an international partnership including the Smithsonian Institution, the Geological Survey of Japan, the Earth Observatory of Singapore (Chris Newhall), the British Geological Survey, the University of Buffalo (SUNY) and Munich Re. The partnership is intended to grow and any individuals or institutions who are able to contribute resources to VOGRIPA objectives are welcome to participate. Work has already begun (funded principally by Munich Re) on populating a database of large magnitude explosive eruptions reaching back to the Quaternary, with extreme-value statistics being used to evaluate the magnitude-frequency relationship of such events, and also an assessment of how the quality of records affect the results. The following 4 years of funding from the European Research Council for VOGRIPA will be used to establish further international collaborations in order to develop different aspects of the database, with the data being accessible online once it is sufficiently

Continuous Risk Management: An Overview

Science.gov (United States)

Rosenberg, Linda; Hammer, Theodore F.

1999-01-01

Software risk management is important because it helps avoid disasters, rework, and overkill, but more importantly because it stimulates win-win situations. The objectives of software risk management are to identify, address, and eliminate software risk items before they become threats to success or major sources of rework. In general, good project managers are also good managers of risk. It makes good business sense for all software development projects to incorporate risk management as part of project management. The Software Assurance Technology Center (SATC) at NASA GSFC has been tasked with the responsibility for developing and teaching a systems level course for risk management that provides information on how to implement risk management. The course was developed in conjunction with the Software Engineering Institute at Carnegie Mellon University, then tailored to the NASA systems community. This is an introductory tutorial to continuous risk management based on this course. The rational for continuous risk management and how it is incorporated into project management are discussed. The risk management structure of six functions is discussed in sufficient depth for managers to understand what is involved in risk management and how it is implemented. These functions include: (1) Identify the risks in a specific format; (2) Analyze the risk probability, impact/severity, and timeframe; (3) Plan the approach; (4) Track the risk through data compilation and analysis; (5) Control and monitor the risk; (6) Communicate and document the process and decisions.

A framework for global river flood risk assessments

Science.gov (United States)

Winsemius, H. C.; Van Beek, L. P. H.; Jongman, B.; Ward, P. J.; Bouwman, A.

2013-05-01

There is an increasing need for strategic global assessments of flood risks in current and future conditions. In this paper, we propose a framework for global flood risk assessment for river floods, which can be applied in current conditions, as well as in future conditions due to climate and socio-economic changes. The framework's goal is to establish flood hazard and impact estimates at a high enough resolution to allow for their combination into a risk estimate, which can be used for strategic global flood risk assessments. The framework estimates hazard at a resolution of ~ 1 km2 using global forcing datasets of the current (or in scenario mode, future) climate, a global hydrological model, a global flood-routing model, and more importantly, an inundation downscaling routine. The second component of the framework combines hazard with flood impact models at the same resolution (e.g. damage, affected GDP, and affected population) to establish indicators for flood risk (e.g. annual expected damage, affected GDP, and affected population). The framework has been applied using the global hydrological model PCR-GLOBWB, which includes an optional global flood routing model DynRout, combined with scenarios from the Integrated Model to Assess the Global Environment (IMAGE). We performed downscaling of the hazard probability distributions to 1 km2 resolution with a new downscaling algorithm, applied on Bangladesh as a first case study application area. We demonstrate the risk assessment approach in Bangladesh based on GDP per capita data, population, and land use maps for 2010 and 2050. Validation of the hazard estimates has been performed using the Dartmouth Flood Observatory database. This was done by comparing a high return period flood with the maximum observed extent, as well as by comparing a time series of a single event with Dartmouth imagery of the event. Validation of modelled damage estimates was performed using observed damage estimates from the EM

A framework for global river flood risk assessments

Directory of Open Access Journals (Sweden)

H. C. Winsemius

2013-05-01

Full Text Available There is an increasing need for strategic global assessments of flood risks in current and future conditions. In this paper, we propose a framework for global flood risk assessment for river floods, which can be applied in current conditions, as well as in future conditions due to climate and socio-economic changes. The framework's goal is to establish flood hazard and impact estimates at a high enough resolution to allow for their combination into a risk estimate, which can be used for strategic global flood risk assessments. The framework estimates hazard at a resolution of ~ 1 km2 using global forcing datasets of the current (or in scenario mode, future climate, a global hydrological model, a global flood-routing model, and more importantly, an inundation downscaling routine. The second component of the framework combines hazard with flood impact models at the same resolution (e.g. damage, affected GDP, and affected population to establish indicators for flood risk (e.g. annual expected damage, affected GDP, and affected population. The framework has been applied using the global hydrological model PCR-GLOBWB, which includes an optional global flood routing model DynRout, combined with scenarios from the Integrated Model to Assess the Global Environment (IMAGE. We performed downscaling of the hazard probability distributions to 1 km2 resolution with a new downscaling algorithm, applied on Bangladesh as a first case study application area. We demonstrate the risk assessment approach in Bangladesh based on GDP per capita data, population, and land use maps for 2010 and 2050. Validation of the hazard estimates has been performed using the Dartmouth Flood Observatory database. This was done by comparing a high return period flood with the maximum observed extent, as well as by comparing a time series of a single event with Dartmouth imagery of the event. Validation of modelled damage estimates was performed using observed damage estimates from

Data management and global change research: Technology and infrastructure

International Nuclear Information System (INIS)

Morrissey, W.A.

1993-01-01

There is a consensus among many scientists who would perform global change research that global-scale scientific data management programs and enabling policies need to be developed and implemented concomitantly with, if not in advance of, global change research programs. They are hopeful that US Federal government policies for scientific and technical data and information management will provide timely archival, analysis, and dissemination of global change research data and will enable them to share that data with colleagues, internationally. Federal data managers believe that data management technology and infrastructure requirements for global change research programs can be met through existing or planned enhancements to systems in operation used for scientific data gathering, processing, and dissemination. Scientists are concerned, however, that because of the scope and diversity of global change research programs entirely new systems and approaches to data management may need to be devised

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....

Supply Chian Risk Management in China -- A cae study of two manufacturing companies in China

OpenAIRE

Sui, Zhiyu

2013-01-01

In the currently business world, companies face high competitive pressures from trends of global outsourcing, varieties of product types, shorter products life cycle. This result in increasing complexity of supply chain network and a high level of supply chain risks. In addition, supply chain risk management become vital and can be used to mitigate supply chain risks. There are many previous research focused on supply chain risk management in developed countries, but not many take depth resea...

RISK MANAGEMENT: AN INTEGRATED APPROACH TO RISK MANAGEMENT AND ASSESSMENT

OpenAIRE

Szabo Alina

2012-01-01

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 ...

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.

Collective Global Leadership in Self-Managed Multicultural Teams

DEFF Research Database (Denmark)

Paunova, Minna; Lee, Yih-Teen

2016-01-01

Arguing that it is necessary to look into specific global leadership processes in specific contexts, this article focuses on collective global leadership in self-managed multicultural teams using an input-process-output model. Building on a study of nationally and culturally diverse self-managed...... teams, our work demonstrates that collective global leadership in these teams is critical for team performance (output). Our study also examines some of the affective or attitudinal antecedents of collective global leadership in self-managed multicultural teams (process) and their members’ goal...... orientations (input). Our findings suggest that a team learning orientation may greatly help multicultural teams overcome the liability of cultural diversity, create a positive intra-team environment, and enable collective global leadership. Our research also suggests that team performance orientation...

Internal Audit and Risk Management

OpenAIRE

Constantin Nicolae Vasile; Alexandru Georgiana

2011-01-01

Internal audit and risk management have the same goal: the control of risk. There are various roles for the internal audit in respect of risk management. The main limitations of internal audit in respect of risk management regards assuming risk management tasks. One of the main issues regarding risk management is to make sure that the key risks are taken into consideration and that the management and the board of the organization take action as needed. Internal audit could give advice to mana...

Climate Change and Risk Management Challenges in the Arctic

DEFF Research Database (Denmark)

Jakobsen, Uffe

Climate change or global warming results in melting ice in the Arctic, both inland and sea ice. This opens up opportunities of natural ressource extraction and possibilities of new shipping routes, that opens up opportunities for increased maritime activities. However, with these opportunies come...... also the challenges of increased maritime activities that result in several risks in the Arctic such as the risk of pollution and the risks of accidents, which produce a need for preparedness towards oil spill and towards search and rescue (SAR) and institutions for SAR. Since the Arctic is such a huge...... possibilies of transborder risk management and partnership building....

Can we (actually) assess global risk?

Science.gov (United States)

Di Baldassarre, Giuliano

2013-04-01

The evaluation of the dynamic interactions of the different components of global risk (e.g. hazard, exposure, vulnerability or resilience) is one of the main challenges in risk assessment and management. In state-of-the-art approaches for the analysis of risk, natural and socio-economic systems are typically treated separately by using different methods. In flood risk studies, for instance, physical scientists typically focus on the study of the probability of flooding (i.e. hazard), while social scientists mainly examine the exposure, vulnerability or resilience to flooding. However, these different components are deeply interconnected. Changes in flood hazard might trigger changes in vulnerability, and vice versa. A typical example of these interactions is the so-called "levee effect", whereby heightening levees to reduce the probability of flooding often leads to increase the potential adverse consequences of flooding as people often perceive that flood risk was completely eliminated once the levee was raised. These interconnections between the different components of risk remain largely unexplored and poorly understood. This lack of knowledge is of serious concern as it limits our ability to plan appropriate risk prevention measures. To design flood control structures, for example, state-of-the-art models can indeed provide quantitative assessments of the corresponding risk reduction associated to the lower probability of flooding. Nevertheless, current methods cannot estimate how, and to what extent, such a reduction might trigger a future increase of the potential adverse consequences of flooding (the aforementioned "levee effect"). Neither can they evaluate how the latter might (in turn) lead to the requirement of additional flood control structures. Thus, while many progresses have been made in the static assessment of flood risk, more inter-disciplinary research is required for the development of methods for dynamic risk assessment, which is very much

Risk Management and Nuclear Insurance Program within Societatea Nationala Nuclearelectrica S.A

International Nuclear Information System (INIS)

Havris, Alexandru

2008-01-01

This paper shall present the Risk Management and associated nuclear insurance program developed within Societatea Nationala 'Nuclearelectrica' S.A, owner and operator of Units 1 and 2 Cernavoda NPP, the Nuclear Fuel Plant and in charge with commissioning of Units 3 and 4. From the risk management perspective, the main aspects that energy industry has to face due to global economic changes within a dynamic business environment are highlighted. In order to mitigate the operational and investment associated risks, Societatea Nationala 'Nuclearelectrica' S.A. successfully developed, implemented and maintained a coherent insurance program both on local and international insurance market. (authors)

Hog Producers' Risk Management Attitudes and Desire for Additional Risk Management Education

OpenAIRE

Patrick, George F.; Peiter, Amy J.; Knight, Thomas O.; Coble, Keith H.; Baquet, Alan E.

2007-01-01

Hog producers in Indiana and Nebraska were surveyed about sources of risk, effectiveness of risk management strategies, and prior participation in and desire for additional risk management education. Ownership of hogs by the producer, size of the operation, and age did have significant effects on ratings of both sources of risk and effectiveness of risk management strategies. Probit analysis found age, prior attendance, knowledge and prior use of the tool, level of integration, and concern ab...

GFC-Robust Risk Management Under the Basel Accord Using Extreme Value Methodologies

NARCIS (Netherlands)

P.A. Santos (Paulo Araújo); J.A. Jiménez-Martín (Juan-Ángel); M.J. McAleer (Michael); T. Pérez-Amaral (Teodosio)

2011-01-01

textabstractIn McAleer et al. (2010b), a robust risk management strategy to the Global Financial Crisis (GFC) was proposed under the Basel II Accord by selecting a Value-at-Risk (VaR) forecast that combines the forecasts of different VaR models. The robust forecast was based on the median of the

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)

A framework for global river flood risk assessments

NARCIS (Netherlands)

Winsemius, H.C.; van Beek, L.P.H.|info:eu-repo/dai/nl/14749799X; Jongman, B.; Ward, P.J.; Bouwman, A.

2013-01-01

There is an increasing need for strategic global assessments of flood risks in current and future conditions. In this paper, we propose a framework for global flood risk assessment for river floods, which can be applied in current conditions, as well as in future conditions due to climate and

Risk management in Takaful

OpenAIRE

Akhter, Waheed

2010-01-01

Risk management is of vital importance in Islam and Takāful provides a way to manage risks in business according to Sharī’ah principles. This research paper attempts to identify various types of risks involved in Takāful business that affect operational and investment functions of Takāful operators across the globe. It lays down criteria for Takāful operator to manage those risks effectively. However, Takāful operators often face difficulty in managing market and credit risks as Sharī’ah comp...

Seismic and wind vulnerability assessment for the GAR-13 global risk assessment

OpenAIRE

Yamín Lacouture, Luis Eduardo; Hurtado Chaparro, Alvaro Ivan; Barbat Barbat, Horia Alejandro; Cardona Arboleda, Omar Dario

2014-01-01

A general methodology to evaluate vulnerability functions suitable for a probabilistic global risk assessment is proposed. The methodology is partially based in the methodological approach of the Multi-hazard Loss Estimation Methodology (Hazus) developed by the Federal Emergency Management Agency (FEMA). The vulnerability assessment process considers the resolution, information and limitations established for both the hazard and exposure models adopted. Seismic and wind vulnerability function...

NEW CHALLENGES OF RISK MANAGEMENT IN BANKS IN THE GLOBALISATION CONTEXT

Directory of Open Access Journals (Sweden)

Cătălin SABĂU

2013-06-01

Full Text Available This paper aims to address the growing need for new standards in the management of two major risks financial entities face - credit risk and liquidity risk, in the context of this phenomenon extremely large and complex called globalization, by identifying risks, analyzing them and presenting their management techniques. Taking into account the fact that the banking system plays a crucial role in any national economy as a central pillar in its functions: lending the real economy and acting as a payment system-base regulation and prudential supervision of the banking system is the main component and also a prerequisite for ensuring and maintaining the financial and economic health of a country. Regardless of the approach, credit risk is the main cause of bank failures and from here the need for the imposition of minimum requirements in managing credit risk and also liquidity risk is seen as the risk of disruptions in providing liquid funds of the bank. The ultimate goal of this paper is to minimize the consequences arising from the banks activity or at least allow it to absorb only the optimal amount of this type of risk.

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).

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

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...

Securing the energy industry : perspectives in security risk management

Energy Technology Data Exchange (ETDEWEB)

Hurd, G.L. [Anadarko Canada Corp., Calgary, AB (Canada)

2003-07-01

This presentation offered some perspectives in security risk management as it relates to the energy sector. Since the events of September 11, 2001 much attention has been given to terrorism and the business is reviewing protection strategies. The paper made reference to each of the following vulnerabilities in the energy sector: information technology, globalization, business restructuring, interdependencies, political/regulatory change, and physical/human factors. The vulnerability of information technology is that it can be subject to cyber and virus attacks. Dangers of globalization lie in privacy and information security, forced nationalization, organized crime, and anti-globalization efforts. It was noted that the Y2K phenomenon provided valuable lessons regarding interdependencies and the effects of power outages, water availability, transportation disruption, common utility corridor accidents, and compounding incidents. The paper also noted the conflict between the government's desire to have a resilient infrastructure that can withstand and recover from attacks versus a company's ability to afford this capability. The physical/human factors that need to be considered in risk management include crime, domestic terrorism, and disasters such as natural disasters, industrial disasters and crisis. The energy industry has geographically dispersed vulnerable systems. It has done a fair job of physical security and has good emergency management practices, but it was noted that the industry cannot protect against all threats. A strategy of vigilance and awareness is needed to deal with threats. Other strategies include contingency planning, physical security, employee communication, and emergency response plans. tabs., figs.

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.

COMPARISON OF TRENDS IN RISK MANAGEMENT THEORY AND PRACTICES WITHIN THE CONSTRUCTION INDUSTRY

Directory of Open Access Journals (Sweden)

Dena Crnković

2016-12-01

Full Text Available This study considered the problem of understanding and use of risk management methods in construction projects and their representation in the literature and their practical application. Research of trends in risk management was conducted using studies from the EBSCO database that were published in the period from 1999 to 2015. The focus included the development of two terms, namely traditional and holistic approach to risk management as well as to uncertainty and opportunity management. The trend of leading standards in the field of project management, PMBoK and ISO 31000 indicated full support for the modernization of risk management that focused on the risks as well as potential opportunities in the project. The findings also revealed that the global practices continued to lack awareness of risk management and its benefits for project goals. A similar situation was found in Croatia by observing project management practices in two case studies, namely Project Zagrebačka obala in Rijeka and a Project of SEECEL Zagreb. Primarily, the lack of education and communication between experts are important issues requiring attention in practice and academics. It is necessary to gradually introduce standards over time to prepare for progress in managing uncertainties and adopting more holistic approaches.

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.

Optimizing risk management

International Nuclear Information System (INIS)

Kindred, G.W.

2000-01-01

Commercial nuclear power plant management is focussed on the safe, efficient, economical production of electricity. To accomplish the safe aspect of the equation, risk must be determined for the operation and maintenance of the facility. To accomplish the efficient aspect of the equation, management must understand those risks and factor risk insights into their decision process. The final piece of the equation is economical which is accomplished by minimizing, plant outage durations and proper utilization of resources. Probabilistic Risk Assessment can provide the risk insights to accomplish all three; safety, efficiency, and economically. How? Safe production of electricity can be quantified by use of PRA modeling and other risk insights that can determine the core damage frequency. Efficient production of electricity can be influenced by providing management with quantified risk insights for use in decision making. And, one example of economical production of electricity is by not having over conservative deterministic based defense in depth approaches to system maintenance and availability. By using risk-informed insights nuclear safety can be quantified and risk can be managed. Confidence in this approach can be achieved by ensuring the content and quality of the PRA is standardized throughout the industry. The time has arrived for Probabilistic Risk Assessment to take an active position as a major role player in the safe, efficient, and economical operation of commercial nuclear power plants. (author)

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

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 ...

Transforming business education to produce global managers

NARCIS (Netherlands)

Kedia, Ben L.; Englis-Danskin, Paula

2011-01-01

In recent years, globalization of businesses has occurred faster than the internationalization of business schools—in terms of faculty, students, and curriculum. Indeed, there is now a disconnect between global economic realities and the ability of business schools to produce global managers. This

A globally-distributed alien invasive species poses risks to United States imperiled species.

Science.gov (United States)

McClure, Meredith L; Burdett, Christopher L; Farnsworth, Matthew L; Sweeney, Steven J; Miller, Ryan S

2018-03-28

In the midst of Earth's sixth mass extinction event, non-native species are a driving factor in many imperiled species' declines. One of the most widespread and destructive alien invasive species in the world, wild pigs (Sus scrofa) threaten native species through predation, habitat destruction, competition, and disease transmission. We show that wild pigs co-occur with up to 87.2% of imperiled species in the contiguous U.S. identified as susceptible to their direct impacts, and we project increases in both the number of species at risk and the geographic extent of risks by 2025. Wild pigs may therefore present a severe threat to U.S. imperiled species, with serious implications for management of at-risk species throughout wild pigs' global distribution. We offer guidance for efficient allocation of research effort and conservation resources across species and regions using a simple approach that can be applied to wild pigs and other alien invasive species globally.

[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.

Global risks from energy consumption

International Nuclear Information System (INIS)

von Hippel, F.

1983-01-01

A discussion of some of the global risks associated with current and frequently proposed future levels of consumption of energy from oil, coal, fission, fusion, and renewable sources points out the the dangers are serious and relatively near term. These include world war over Persian Gulf oil, climate change due to the buildup of atmospheric carbon dioxide, the accelerated proliferation of nuclear weapons, and competition between food and energy for land and water. The author urges placing a greater emphasis on how we use energy and how to reduce energy waste. At the levels of consumption which economically justified levels of energy efficiency could bring about, enough flexibility could develop in our choice of a future energy-supply mix to dramatically reduce the associated global risks. 47 references, 3 figures

From risk management to uncertainty management: a significant change in project management

Institute of Scientific and Technical Information of China (English)

LI Gui-jun; ZHANG Yue-song

2006-01-01

Starting with the meanings of the terms "risk" and "uncertainty,"" he paper compares uncertainty management with risk management in project management. We bring some doubt to the use of "risk" and "uncertainty" interchangeably in project management and deem their scope, methods, responses, monitoring and controlling should be different too. Illustrations are given covering terminology, description, and treatment from different perspectives of uncertainty management and risk management. Furthermore, the paper retains that project risk management (PRM) processes might be modified to facilitate an uncertainty management perspective,and we support that project uncertainty management (PUM) can enlarge its contribution to improving project management performance, which will result in a significant change in emphasis compared with most risk management.

Improving Operational Risk Management Using Business Performance Management Technologies

OpenAIRE

Bram Pieket Weeserik; Marco Spruit

2018-01-01

Operational Risk Management (ORM) comprises the continuous management of risks resulting from: human actions, internal processes, systems, and external events. With increasing requirements, complexity and a growing volume of risks, information systems provide benefits for integrating risk management activities and optimizing performance. Business Performance Management (BPM) technologies are believed to provide a solution for effective Operational Risk Management by offering several combined ...

Disaster Risk Management and Measurement Indicators for Cultural Heritage in Taiwan

Science.gov (United States)

Yen, Y. N.; Cheng, C. F.; Cheng, H. M.

2015-08-01

Under the influence of global climate change, the risk preparedness has become a universal issue in different research fields. In the conservation of cultural heritage, disaster risk management is becoming one of the major research topics. Besides researches on the theory and mechanism of disaster risk management, the tools for the performance of site managers to protect cultural heritage is another important issue that needs development. UNESCO and ICOMOS have released some important documents on disaster risk management including its concept, identification, evaluation, mitigation, monitoring and resilience, etc. However, there is a big gap between concept and implementation in Taiwan. Presently there are 2000 monuments in Taiwan that hardly meet the modern code. First, based on international documents released, this research presents 13 disaster indicators on monuments and their environments. Next, 345 monuments in northern Taiwan are taken as examples to evaluate their risk situations with indicators designed in 2011. Some positive recommendations were given at the same time. As a result, a comparative evaluation was completed in 2012 and some key issues are found, such as too many electrical facilities, lack of efficient firefighting equipment, and a shortage of management mechanism, just to name a few. Through the improvement of the management, some major risk can be mitigated. In 2013~14, this research took 23 national monuments from the 345 monuments to evaluate their risk situations and compare the differences between national and local monuments. Results show that almost all management mechanisms in the national monuments have been established and are running well. However, problems like inappropriate electrical facilities and insufficient monitoring equipment remain. In addition, the performance of private monuments is not as good as public ones. Based on the collected information and evaluation, this research develops safety measures of heritage

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.

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.

Risk Management and Nuclear Insurance Program within Societatea Nationala Nuclearelectrica S.A

Energy Technology Data Exchange (ETDEWEB)

Havris, Alexandru [Societatea Nationala Nuclearelectrica S.A, 65 Polona Street, code 010494, sector 1, Bucharest (Romania)

2008-07-01

This paper shall present the Risk Management and associated nuclear insurance program developed within Societatea Nationala 'Nuclearelectrica' S.A, owner and operator of Units 1 and 2 Cernavoda NPP, the Nuclear Fuel Plant and in charge with commissioning of Units 3 and 4. From the risk management perspective, the main aspects that energy industry has to face due to global economic changes within a dynamic business environment are highlighted. In order to mitigate the operational and investment associated risks, Societatea Nationala 'Nuclearelectrica' S.A. successfully developed, implemented and maintained a coherent insurance program both on local and international insurance market. (authors)

Globalization of healthcare: case management in a 21st-century world.

Science.gov (United States)

Craig, Kathy; Beichl, Lisa

2009-01-01

This article explains the current state of the global healthcare market with respect to international medical travel (medical tourism) and worldwide provider sourcing. Emphasis is placed on the traditional twin pillars of oversight: program accreditation and branding affiliation. These are discussed for their main strength, which is their ability to operate at a system-strata level. This strength also represents a primary weakness from the international patient's perspective, which is the functional gap between systemic oversight and bedside surveillance. International case management (ICM) is identified as the right conduit of patient-level service delivery that fills the gap between system and bedside. The ICM professional is introduced and defined as the provider of patient-centered quality and safety improvements, who coordinates and collaborates using international network connections and culture-sensitive in-country communication skills. The article's information is useful for healthcare practitioners who want to learn about the global medical marketplace. Practitioners who are preparing to or who already have business enterprises associated with the global healthcare market will also find the information helpful. Explanations and content are useful to case management generalists, specialists, and business developers. The content is intended for uptake by interested parties within and outside the healthcare practice arena. All research and syntheses were executed by the authors. Sources included business correspondences, medical tourism literature, corporate Internet profiles, news releases, and healthcare industry investigative and monitoring agencies. Clinical competencies stem from the international practice experiences of one author (K. Craig). International health insurance, economics, and financing expertise stems from other author (L. Beichl). This article launches the platform for development of checklists, tools, and guidelines for international case

The Risk-Return Profiles Of Global Portfolios: Some Evidence From Asia-Pacific And European Equity Markets

OpenAIRE

H. Christine Hsu

2011-01-01

As world financial markets are integrated, national stock markets tend to move together. Empirical evidence on correlations among equity markets worldwide suggests an increasing interdependence between most national markets in recent years. This is disconcerting, to say the least, to investors and portfolio managers seeking risk diversification via global equity investing. The objective of this study is to investigate whether there is still room for global portfolio diversification from the U...

Risk management in nuclear projects

International Nuclear Information System (INIS)

Salles, Claudio J.R.

2002-01-01

The risk management will be defined by different aspects: danger or loss possibility, or responsibility for damage. The risk management is one stage of project management. The risk management is a continuous process of planning, identification, quantification, answer and risk control to maximize the success potential of activity. The reduction of risk is part of priority establishment. This work will indicate how introduce this important instrument in the management of nuclear projects. (author)

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.

Audit Manager Risk Behaviour in a Global Economy – a Research of the Theories on the Determinants of Risk Behaviour

OpenAIRE

Ionescu Iancu Octavian

2010-01-01

In an increasingly globalised economy, the quality and professionalism of business decisions are intrinsically linked to the risk behaviour of decision makers. The business decision makers are usually faced with a degree of uncertainty when they have to assess risk and make decisions. This paper examines risk behaviour from an audit firm manager perspective and from an academic perspective. The emphasis is on the managerial risk behaviour in business decision making. The research objective is...

76 FR 34271 - Hewlett Packard, Global Parts Supply Chain, Global Product Life Cycles Management Unit, Including...

Science.gov (United States)

2011-06-13

... DEPARTMENT OF LABOR Employment and Training Administration [TA-W-74,671] Hewlett Packard, Global Parts Supply Chain, Global Product Life Cycles Management Unit, Including Teleworkers Reporting to... Supply Chain, Global Product Life Cycles Management Unit, including teleworkers reporting to Houston...

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:...

Effects of climate variability on global scale flood risk

Science.gov (United States)

Ward, P.; Dettinger, M. D.; Kummu, M.; Jongman, B.; Sperna Weiland, F.; Winsemius, H.

2013-12-01

In this contribution we demonstrate the influence of climate variability on flood risk. Globally, flooding is one of the worst natural hazards in terms of economic damages; Munich Re estimates global losses in the last decade to be in excess of $240 billion. As a result, scientifically sound estimates of flood risk at the largest scales are increasingly needed by industry (including multinational companies and the insurance industry) and policy communities. Several assessments of global scale flood risk under current and conditions have recently become available, and this year has seen the first studies assessing how flood risk may change in the future due to global change. However, the influence of climate variability on flood risk has as yet hardly been studied, despite the fact that: (a) in other fields (drought, hurricane damage, food production) this variability is as important for policy and practice as long term change; and (b) climate variability has a strong influence in peak riverflows around the world. To address this issue, this contribution illustrates the influence of ENSO-driven climate variability on flood risk, at both the globally aggregated scale and the scale of countries and large river basins. Although it exerts significant and widespread influences on flood peak discharges in many parts of the world, we show that ENSO does not have a statistically significant influence on flood risk once aggregated to global totals. At the scale of individual countries, though, strong relationships exist over large parts of the Earth's surface. For example, we find particularly strong anomalies of flood risk in El Niño or La Niña years (compared to all years) in southern Africa, parts of western Africa, Australia, parts of Central Eurasia (especially for El Niño), the western USA (especially for La Niña), and parts of South America. These findings have large implications for both decadal climate-risk projections and long-term future climate change

GLOBAL TEAM MANAGEMENT: AN ESSENTIAL COMPONENT OF FIRMS’ INNOVATION STRATEGY

Directory of Open Access Journals (Sweden)

AZİM ÖZTÜRK

2013-05-01

Full Text Available In the world marketplace some firms compete successfully and others fail to gain global competitive advantage. Some researchers argue that innovation strategy is the answer to successfully meeting today’s and tomorrow’s global business challenges.  An important aspect of the innovation strategy is managing global teams effectively.  Thus, firms of tomorrow will be characterized by values such as teamwork, innovation, cultural diversity, and a global mindset.  The rapid globalization of business, and increasing competition will continue to drive the need for effective teamwork and/in innovation management.  The purpose of our research is to gain insight into global team management and its role as a major component of innovation strategy.  We discuss the changing and developing functions of teamwork, examine the characteristics of global teams, and finally offer a process to achieve effective global team management.

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

A comprehensive analytical review of the risk assessment, risk management, and risk communication approaches currently being undertaken by key national, provincial/state, territorial, and international agencies was conducted. The information acquired for review was used to identify the differences, commonalities, strengths, and weaknesses among the various approaches, and to identify elements that should be included in an effective, current, and comprehensive approach applicable to environmental, human health and occupational health risks. More than 80 agencies, organizations, and advisory councils, encompassing more than 100 risk documents, were examined during the period from February 2000 until November 2002. An overview was made of the most important general frameworks for risk assessment, risk management, and risk communication for human health and ecological risk, and for occupational health risk. In addition, frameworks for specific applications were reviewed and summarized, including those for (1)contaminated sites; (2) northern contaminants; (3) priority substances; (4) standards development; (5) food safety; (6) medical devices; (7) prescription drug use; (8) emergency response; (9) transportation; (10) risk communication. Twelve frameworks were selected for more extensive review on the basis of representation of the areas of human health, ecological, and occupational health risk; relevance to Canadian risk management needs; representation of comprehensive and well-defined approaches; generalizability with their risk areas; representation of "state of the art" in Canada, the United States, and/or internationally; and extent of usage of potential usage within Canada. These 12 frameworks were: 1. Framework for Environmental Health Risk Management (US Presidential/Congressional Commission on Risk Assessment and Risk Management, 1997). 2. Health Risk Determination: The Challenge of Health Protection (Health and Welfare Canada, 1990). 3. Health Canada Decision

Teaching supply chain management through global projects with global project teams

NARCIS (Netherlands)

Kopczak, L.R.; Fransoo, J.C.

2000-01-01

In this article, we describe the Global Project Coordination Course, a course in which project teams composed of three students from each of two overseas universities execute company-sponsored projects dealing with global supply chain management issues. The $75,000 to $100,00 contributed in total by

Global Derivatives

DEFF Research Database (Denmark)

Andersen, Torben Juul

approaches to dealing in the global business environment." - Sharon Brown-Hruska, Commissioner, Commodity Futures Trading Commission, USA. "This comprehensive survey of modern risk management using derivative securities is a fine demonstration of the practical relevance of modern derivatives theory to risk......" provides comprehensive coverage of different types of derivatives, including exchange traded contracts and over-the-counter instruments as well as real options. There is an equal emphasis on the practical application of derivatives and their actual uses in business transactions and corporate risk...... management situations. Its key features include: derivatives are introduced in a global market perspective; describes major derivative pricing models for practical use, extending these principles to valuation of real options; practical applications of derivative instruments are richly illustrated...

Ecological risk Evaluation and Green Infrastructure planning for coping with global climate change, a case study of Shanghai, China

Science.gov (United States)

Li, Pengyao; Xiao, He; Li, Xiang; Hu, Wenhao; Gu, Shoubai; Yu, Zhenrong

2018-01-01

Coping with various ecological risks caused by extreme weather events of global climate change has become an important issue in regional planning, and storm water management for sustainable development. In this paper, taking Shanghai, China as a case study, four potential ecological risks were identified including flood disaster, sea-source disaster, urban heat island effect, and land subsidence. Based on spatial database, the spatial variation of these four ecological risks was evaluated, and the planning area was divided into seven responding regions with different green infrastructure strategy. The methodology developed in this study combining ecological risk evaluation with spatial regionalization planning could contribute to coping with global climate change.

A Model for an Information Security Risk Management (ISRM) Framework for Saudi Arabian Organisations

Science.gov (United States)

Alshareef, Naser

2016-01-01

Countries in the Gulf represent thriving, globally important commercial centres. They have embraced technology and modern management methods, often originating in the western countries. In adapting to quite different cultures these do not always operate as successfully. The adoption and practices of the Information Security Risk Management (ISRM)…

[Integrated Management Area of Vascular Risk: A new organisational model for global control of risk factors].

Science.gov (United States)

Armario, P; Jericó, C; Vila, L; Freixa, R; Martin-Castillejos, C; Rotllan, M

Cardiovascular disease (CVD), is a major cause of morbidity and mortality that increases the cost of care. Currently there is a low degree of control of the main cardiovascular risk factors, although we have a good therapeutic arsenal. To achieve the improvement of this reality, a good coordination and multidisciplinary participation are essential. The development of new organizational models such as the Integrated Management Area of Vascular Risk can facilitate the therapeutic harmonization and unification of the health messages offered by different levels of care, based on clinical practice guidelines, in order to provide patient-centred integrated care. Copyright © 2016 SEH-LELHA. Publicado por Elsevier España, S.L.U. All rights reserved.

Global Project Management: Graduate Course

National Research Council Canada - National Science Library

Beranek, Thomas R

2006-01-01

..., A. James Clark School of Engineering - Project Management Program. The course slides and suggested readings provide a general exploration of the nuances of doing projects globally as compared to domestically...

Information Risk Management and Resilience

Science.gov (United States)

Dynes, Scott

Are the levels of information risk management efforts within and between firms correlated with the resilience of the firms to information disruptions? This paper examines the question by considering the results of field studies of information risk management practices at organizations and in supply chains. The organizations investigated differ greatly in the degree of coupling from a general and information risk management standpoint, as well as in the levels of internal awareness and activity regarding information risk management. The comparison of the levels of information risk management in the firms and their actual or inferred resilience indicates that a formal information risk management approach is not necessary for resilience in certain sectors.

Continuous Risk Management at NASA

Science.gov (United States)

Hammer, Theodore F.; Rosenberg, Linda

1999-01-01

NPG 7120.5A, "NASA Program and Project Management Processes and Requirements" enacted in April, 1998, requires that "The program or project manager shall apply risk management principles..." The Software Assurance Technology Center (SATC) at NASA GSFC has been tasked with the responsibility for developing and teaching a systems level course for risk management that provides information on how to comply with this edict. The course was developed in conjunction with the Software Engineering Institute at Carnegie Mellon University, then tailored to the NASA systems community. This presentation will briefly discuss the six functions for risk management: (1) Identify the risks in a specific format; (2) Analyze the risk probability, impact/severity, and timeframe; (3) Plan the approach; (4) Track the risk through data compilation and analysis; (5) Control and monitor the risk; (6) Communicate and document the process and decisions. This risk management structure of functions has been taught to projects at all NASA Centers and is being successfully implemented on many projects. This presentation will give project managers the information they need to understand if risk management is to be effectively implemented on their projects at a cost they can afford.

Probability concepts in quality risk management.

Science.gov (United States)

Claycamp, H Gregg

2012-01-01

Essentially any concept of risk is built on fundamental concepts of chance, likelihood, or probability. Although risk is generally a probability of loss of something of value, given that a risk-generating event will occur or has occurred, it is ironic that the quality risk management literature and guidelines on quality risk management tools are relatively silent on the meaning and uses of "probability." The probability concept is typically applied by risk managers as a combination of frequency-based calculation and a "degree of belief" meaning of probability. Probability as a concept that is crucial for understanding and managing risk is discussed through examples from the most general, scenario-defining and ranking tools that use probability implicitly to more specific probabilistic tools in risk management. A rich history of probability in risk management applied to other fields suggests that high-quality risk management decisions benefit from the implementation of more thoughtful probability concepts in both risk modeling and risk management. Essentially any concept of risk is built on fundamental concepts of chance, likelihood, or probability. Although "risk" generally describes a probability of loss of something of value, given that a risk-generating event will occur or has occurred, it is ironic that the quality risk management literature and guidelines on quality risk management methodologies and respective tools focus on managing severity but are relatively silent on the in-depth meaning and uses of "probability." Pharmaceutical manufacturers are expanding their use of quality risk management to identify and manage risks to the patient that might occur in phases of the pharmaceutical life cycle from drug development to manufacture, marketing to product discontinuation. A probability concept is typically applied by risk managers as a combination of data-based measures of probability and a subjective "degree of belief" meaning of probability. Probability as

Economic growth, urbanization, globalization, and the risks of emerging infectious diseases in China: A review.

Science.gov (United States)

Wu, Tong; Perrings, Charles; Kinzig, Ann; Collins, James P; Minteer, Ben A; Daszak, Peter

2017-02-01

Three interrelated world trends may be exacerbating emerging zoonotic risks: income growth, urbanization, and globalization. Income growth is associated with rising animal protein consumption in developing countries, which increases the conversion of wild lands to livestock production, and hence the probability of zoonotic emergence. Urbanization implies the greater concentration and connectedness of people, which increases the speed at which new infections are spread. Globalization-the closer integration of the world economy-has facilitated pathogen spread among countries through the growth of trade and travel. High-risk areas for the emergence and spread of infectious disease are where these three trends intersect with predisposing socioecological conditions including the presence of wild disease reservoirs, agricultural practices that increase contact between wildlife and livestock, and cultural practices that increase contact between humans, wildlife, and livestock. Such an intersection occurs in China, which has been a "cradle" of zoonoses from the Black Death to avian influenza and SARS. Disease management in China is thus critical to the mitigation of global zoonotic risks.

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

Global prevalence and major risk factors of diabetic retinopathy

DEFF Research Database (Denmark)

Yau, Joanne W Y; Rogers, Sophie L; Kawasaki, Ryo

2012-01-01

To examine the global prevalence and major risk factors for diabetic retinopathy (DR) and vision-threatening diabetic retinopathy (VTDR) among people with diabetes.......To examine the global prevalence and major risk factors for diabetic retinopathy (DR) and vision-threatening diabetic retinopathy (VTDR) among people with diabetes....

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.

Risk and/or resilience management

Directory of Open Access Journals (Sweden)

Jean-Paul Louisot

2015-06-01

Full Text Available Risk management aims at managing all the uncertainties that may interfere with the objectives and missions of the organization. Resilience engineering aims at building its capacity to get over disturbances or stress while keeping the functionalities needed to survive, and possibly thrive. A recently open debate on an Internet blog launched by the risk managers of the Scottish Widows Bank seems to arise from what some professionals see as two competing branches of the management sciences. Whereas through the development of ERM – Enterprise-wide Risk Management – risk management is emerging at last to become a science, as well as an art and a practice, the mentioned above centered on the role of a newly forged name “resilience management”. This opens a new front of the many debates that could derail the path to maturity of Risk Management as a science and reopen new silos much as Business Impact Analysis, BIA, or continuity management, might do if a clear distinction is not made between science, objectives and tools. However, because organizations are so interconnected today in the supply cloud that it is inevitable that they will face catastrophic risk and this is why resilience needs to be a core objective of any risk management plan? Whereas traditional risk management techniques alone may not be adequate to deal with such pervasive and insipient risk scenarios, resilience is ingrained into ERM

Top management motivation in global corporations

Directory of Open Access Journals (Sweden)

Dmytro Lukianenko

2015-11-01

Full Text Available The article explores economic localization, socialization and development intellectualization processes. The research is focused on the relevant problem implying formation and development of human resources at organizations as a key factor of their competitiveness. Based on generalizing modern theoretical motivational models a comprehensive analysis of the motivation system for top management of corporations within the paradigm of global management has been carried out. Special attention is paid to the phenomenon of global business personification and virtualization, as well as to the formation of new financial and nonfinancial incentives for top managers. Practices of effective incentives for the contemporary key corporate management actors have been studied. A comprehensive country-based comparative analysis of key tools for financial and non-financial corporate incentives for top managers within the system of long-term, short-term and regulatory criteria and parameters has been performed. Based on summarizing academic studies and empirical evidence of the leading multinational corporations a motivational model for top management of corporations has been grounded and suggested for practical implementation in Ukraine with the said model accounting for the corporations' basic needs, financial status and interests as well as for countryspecific and regional features.

Supply chain risk management

OpenAIRE

Christian Hollstein; Frank Himpel

2013-01-01

Background: Supply chain risk management increasingly gains prominence in many international industries. In order to strengthen supply chain structures, processes, and networks, adequate potentials for risk management need to be built (focus on effective logistics) and to be utilized (focus on efficient logistics). Natural-based disasters, such as the case of Fukushima, illustrate how crucial risk management is. Method: By aligning a theoretical-conceptual framework with empirical-induct...

Reviewing the economic efficiency of disaster risk management

Science.gov (United States)

Mechler, Reinhard

2013-04-01

There is a lot of rhetoric suggesting that disaster risk management (DRM) pays, yet surprisingly little in the way of hard facts. Cost-benefit analysis (CBA) is one major tool that can provide quantitative information about the prioritization of disaster risk management (DRM) (and climate adaptation) based on economic principles. Yet, on a global scale, there has been surprisingly little robust evidence on the economic efficiency and benefits of risk management measures. This review shows that for the limited evidence reported the economic case for DRM across a range of hazards is strong and that the benefits of investing in DRM outweigh the costs of doing so, on average, by about four times the cost in terms of avoided and reduced losses. Most studies using a CBA approach focus on structural DRM and most information has been made available on physical flood prevention. There have been some limited studies on preparedness and risk financing. The global evidence base is limited and estimates appear not very solid, and overall, in line with the conclusion of the recent IPCC SREX report, there is limited evidence and medium agreement across the literature. Some of the factors behind the limited robustness are inherent to CBA more widely: these challenges comprise the inability to price intangibles, evaluating strategies rather than single projects, difficulties in assessing softer rather than infrastructure-related options, choices regarding a proper discount rate, lack of accounting for the distribution of benefits and costs and difficulties with assessing nonmarket values such as those related to health, the environment, or public goods. Although techniques exist to address some of these challenges, they are not very likely to easily go away. Other challenges associated specifically with DRM, such as the need and difficulty to undertake risk -based analysis can be overcome, and there have been manuals and reports providing a way forward. In an age of austerity, cost

Revealing the underlying drivers of disaster risk: a global analysis

Science.gov (United States)

Peduzzi, Pascal

2017-04-01

Disasters events are perfect examples of compound events. Disaster risk lies at the intersection of several independent components such as hazard, exposure and vulnerability. Understanding the weight of each component requires extensive standardisation. Here, I show how footprints of past disastrous events were generated using GIS modelling techniques and used for extracting population and economic exposures based on distribution models. Using past event losses, it was possible to identify and quantify a wide range of socio-politico-economic drivers associated with human vulnerability. The analysis was applied to about nine thousand individual past disastrous events covering earthquakes, floods and tropical cyclones. Using a multiple regression analysis on these individual events it was possible to quantify each risk component and assess how vulnerability is influenced by various hazard intensities. The results show that hazard intensity, exposure, poverty, governance as well as other underlying factors (e.g. remoteness) can explain the magnitude of past disasters. Analysis was also performed to highlight the role of future trends in population and climate change and how this may impacts exposure to tropical cyclones in the future. GIS models combined with statistical multiple regression analysis provided a powerful methodology to identify, quantify and model disaster risk taking into account its various components. The same methodology can be applied to various types of risk at local to global scale. This method was applied and developed for the Global Risk Analysis of the Global Assessment Report on Disaster Risk Reduction (GAR). It was first applied on mortality risk in GAR 2009 and GAR 2011. New models ranging from global assets exposure and global flood hazard models were also recently developed to improve the resolution of the risk analysis and applied through CAPRA software to provide probabilistic economic risk assessments such as Average Annual Losses (AAL

Data Management in Metagenomics: A Risk Management Approach

Directory of Open Access Journals (Sweden)

Filipe Ferreira

2014-07-01

Full Text Available In eScience, where vast data collections are processed in scientific workflows, new risks and challenges are emerging. Those challenges are changing the eScience paradigm, mainly regarding digital preservation and scientific workflows. To address specific concerns with data management in these scenarios, the concept of the Data Management Plan was established, serving as a tool for enabling digital preservation in eScience research projects. We claim risk management can be jointly used with a Data Management Plan, so new risks and challenges can be easily tackled. Therefore, we propose an analysis process for eScience projects using a Data Management Plan and ISO 31000 in order to create a Risk Management Plan that can complement the Data Management Plan. The motivation, requirements and validation of this proposal are explored in the MetaGen-FRAME project, focused in Metagenomics.

Competencies and (global) talent management

CERN Document Server

2017-01-01

This book covers the main issues on the study of competencies and talent management in modern and competitive organizations. The chapters show how organizations around the world are facing (global) talent management challenges and give the reader information on the latest research activity related to that. Innovative theories and strategies are reported in this book, which provides an interdisciplinary exchange of information, ideas and opinions about the workplace challenges.

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

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 .

Knowledge Management and Global Information Dissemination

Science.gov (United States)

Umunadi, Ejiwoke Kennedy

2014-01-01

The paper looked at knowledge management and global information dissemination. Knowledge is a very powerful tool for survival, growth and development. It can be seen as the information, understanding and skills that you gain through education or experience. The paper was addressed under the following sub-headings: Knowledge management knowledge…

Global Sourcing of Services

DEFF Research Database (Denmark)

Ørberg Jensen, Peter D.; Petersen, Bent

2013-01-01

The global sourcing of services offers high returns but is also associated with high risks. The extent to which firms engage in ‘transformational’ global sourcing (i.e., global sourcing implying considerable changes in the home organization) chiefly depends on management's comfort zone which...

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...

Seven Myths of Global Talent Management

DEFF Research Database (Denmark)

Minbaeva, Dana; Collings, David G.

2013-01-01

The challenges associated with managing talent on a global scale are greater than those faced by organisations operating on a domestic scale. We believe that the former relate to the fact that a number of key myths regarding talent management may undermine talent management's contribution...... to multinational corporation effectiveness and retard the development of management practice in this regard. Our aim is to unpack some of those myths and offer some suggestions for advancing the practice of talent management on the basis of insights from both practice and academic thinking in this area....

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...

Reflecting Societal Values in Designing Flood Risk Management Strategies

Directory of Open Access Journals (Sweden)

Adamson Mark

2016-01-01

Full Text Available In 2006, the Office of Public Works (OPW began the National Catchment-based Flood Risk Assessment and Management (CFRAM Programme through a series of pilot studies. A Multi-Criteria Analysis (MCA Framework was developed through the pilot studies that integrated a number of objectives related to a wide range of potential impacts and benefits into the core of process of appraising and selecting suitable flood risk management measures for a given area or location, and then for prioritising national investments for different schemes and projects. This MCA Framework, that provides a systematic process of developing a non-monetised but numerical indicator of benefit and impact, has since been implemented nationally in the preparation of the Flood Risk Management Plans (FRMPs. A key feature of the MCA is that it should represent societal values. To this end, nationally representative quantitative research was undertaken to determine global weights that reflect the perceived importance of each of the objectives for reducing economic, social and environmental / cultural risks in flood management strategies. Saaty’s Analytical Hierarchy Process (AHP, in conjunction with a pair-wise comparison of criteria relating to these risks, was utilised to determine weights. In excess of 1,000 structured interviews were completed where the relative importance of these objectives were assessed using a seven-point scale. The weighting given to each of the 13 specific objectives identified broadly followed expectations, with risk to people followed by risk to homes and properties being respectively the first and second most important, although some were given greater or less weighting than expected. The national application of the MCA Framework, using the weighted objectives based on this process, through the CFRAM Programme has generally lead to the identification of appropriate and, based on local consultation, acceptable options for each community.

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...

Supply Cain Risk Management

OpenAIRE

Goodwin, Les

2011-01-01

“The management of supply chain risk is crucial to any business, more so to Rolls Royce who face an almost doubling of load within the next 10 years. So what is supply chain risk management and how well is it deployed within an operational business of Rolls Royce? What are the tools and techniques available and what are the key issues around implementing world class supply chain risk management with a Supply Chain Unit within Rolls Royce?”

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...

Management of business risks

OpenAIRE

BAZARBAY A.

2015-01-01

The article presents methodological ideas concerning the problem of risk management. Special attention is paid to increasing of enterprises' operating efficiency by means of risk-management system development in business organizations.

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...

What can'(t) we do with global flood risk models?

Science.gov (United States)

Ward, P.; Jongman, B.; Salamon, P.; Simpson, A.; Bates, P. D.; de Groeve, T.; Muis, S.; Coughlan, E.; Rudari, R.; Trigg, M. A.; Winsemius, H.

2015-12-01

Global flood risk models are now a reality. Initially, their development was driven by a demand from users for first-order global assessments to identify risk hotspots. Relentless upward trends in flood damage over the last decade have enhanced interest in such assessments. The adoption of the Sendai Framework for Disaster Risk Reduction and the Warsaw International Mechanism for Loss and Damage Associated with Climate Change Impacts have made these efforts even more essential. As a result, global flood risk models are being used more and more in practice, by an increasingly large number of practitioners and decision-makers. However, they clearly have their limits compared to local models. To address these issues, a team of scientists and practitioners recently came together at the Global Flood Partnership meeting to critically assess the question 'What can('t) we do with global flood risk models?'. The results of this dialogue (Ward et al., 2013) will be presented, opening a discussion on similar broader initiatives at the science-policy interface in other natural hazards. In this contribution, examples are provided of successful applications of global flood risk models in practice (for example together with the World Bank, Red Cross, and UNISDR), and limitations and gaps between user 'wish-lists' and model capabilities are discussed. Finally, a research agenda is presented for addressing these limitations and reducing the gaps. Ward, P.J. et al., 2015. Nature Climate Change, doi:10.1038/nclimate2742.

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.

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

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

Expanding global forest management: An easy first' proposal

Energy Technology Data Exchange (ETDEWEB)

Winjum, J.K. (Environmental Protection Agency, Corvallis, OR (United States)); Meganck, R.A. (United Nations Environment Programme, Kingston (Jamaica)); Dixon, R.K.

1993-04-01

World leaders have become increasingly aware of the contributions of sustainable forest resources to political, social, economic, and environmental health. As a result, interest is growing for a world treaty or protocol on forest management and protection. This article focuses on global forest management. The first section discusses the current situtation in global forest management (10-12% of the total). Benefits of global benefit to management included sustained and even increased yield, slowing of atmospheric carbon dioxide, and conservation of biodiversity and increase sustainable use options. The Noordwijk Goal is discussed as one example of concrete global action. Finally, the easy first approach is presented in detail. It involves starting in areas where the obstacles are minimal to develop early momentum and a can do outlook for implementation. Difficulties of this approach involve dealing with the political, social, and economic aspects of resource constraints that many nations face daily. But the easy first approach attempts to demonstrate that not all financial commitments, political agreements and forest management techniques must be in place for work to start.

Association between low education and higher global cardiovascular risk.

Science.gov (United States)

Di Chiara, Tiziana; Scaglione, Alessandra; Corrao, Salvatore; Argano, Christiano; Pinto, Antonio; Scaglione, Rosario

2015-05-01

This study was designed to evaluate the impact of educational status on global cardiovascular risk in a southern Italian urban population. The study population consisted of 488 consecutive outpatients aged 18 years and older. Educational status was categorized according to the number of years of formal education as follows: (1) low education group (education group (10-15 years). In both groups, cardiometabolic comorbidities (obesity, visceral obesity, diabetes, dyslipidemia, metabolic syndrome, microalbuminuria, left ventricular hypertrophy) and global cardiovascular risk, according to international guidelines, were analyzed. Left ventricular mass index and ejection fraction by echocardiography and E/A ratio, by pulsed-wave Doppler, were calculated. The low education group was characterized by a significantly higher prevalence of patients with visceral obesity (P=.021), hypertension (P=.010), metabolic syndrome (P=.000), and microalbuminuria (P=.000) and greater global cardiovascular risk (P=.000). Significantly increased levels of microalbuminuria (P=.000) and significantly decreased values of E/A ratio (P=.000) were also detected in the low education group. Global cardiovascular risk correlated directly with waist-to-hip ratio (P=.010), microalbuminuria (P=.015), and the metabolic syndrome (P>.012) and inversely with educational status (P=.000). Education was independently (P=.000) associated with global cardiovascular risk. These data indicate a strong association between low education and cardiometabolic comorbidities suitable to influence the evolution of chronic degenerative diseases. Preventive strategies need to be more efficient and more effective in this patient population. ©2015 Wiley Periodicals, Inc.

Risk management at university

OpenAIRE

Ivanova, H.; Abramovich, S.

2013-01-01

This article observes the basic recommendations for the risk management system in higher education as an example Yanka Kupala State University of Grodno. Consider the risk-management standard that based in a process approach

Globalization and Localization of the Management Control System package

DEFF Research Database (Denmark)

Toldbod, Thomas; Israelsen, Poul

2015-01-01

Through an empirical case study, this article examines the operation of multiple management control systems as a package in a Danish manufacturing company. The analysis focuses on four different management control systems – cybernetic controls, planning controls, reward controls, and administrative...... the organization and others have more particular characteristics. Specifically, this study finds that cybernetic controls and administrative controls are designed as global management control systems. Planning controls and reward and compensation controls are glocal systems. The finding leads to the conclusion...... controls – through the theoretical lens of globalization, localization, and glocalization. Based on a single-case study, the analysis documents that these different management control systems are affected differently by the processes of globalization and localization, some of which are universal throughout...

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)

Cattle farmers’ perceptions of risk and risk management strategies

DEFF Research Database (Denmark)

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

2018-01-01

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...... evidence that farmers engage in multiple risk management practices in order to reduce losses from cattle morbidity and mortality. The results suggest that government strategies that aim at reducing farmers’ risk need to be tailored to specific farm and farmer characteristics. Findings from this study have...

The Key to Risk Management: Management

OpenAIRE

Adrian E. Tschoegl

2000-01-01

The Barings, Daiwa Bank and Sumitomo Corp. financial debacles in the mid-1990s suggest that management failures rather than misfortune, errors, or complexity are a major source of the risk of financial debacles. These errors are systematic and are a concommittant of the structure of trading and of human nature. Risk management systems must take these facts into account.

Synthesis and review: Tackling the nitrogen management challenge: from global to local scales

Science.gov (United States)

Reis, Stefan; Bekunda, Mateete; Howard, Clare M.; Karanja, Nancy; Winiwarter, Wilfried; Yan, Xiaoyuan; Bleeker, Albert; Sutton, Mark A.

2016-12-01

One of the ‘grand challenges’ of this age is the anthropogenic impact exerted on the nitrogen cycle. Issues of concern range from an excess of fixed nitrogen resulting in environmental pressures for some regions, while for other regions insufficient fixed nitrogen affects food security and may lead to health risks. To address these issues, nitrogen needs to be managed in an integrated fashion, at a variety of scales (from global to local). Such management has to be based on a thorough understanding of the sources of reactive nitrogen released into the environment, its deposition and effects. This requires a comprehensive assessment of the key drivers of changes in the nitrogen cycle both spatially, at the field, regional and global scale and over time. In this focus issue, we address the challenges of managing reactive nitrogen in the context of food production and its impacts on human and ecosystem health. In addition, we discuss the scope for and design of management approaches in regions with too much and too little nitrogen. This focus issue includes several contributions from authors who participated at the N2013 conference in Kampala in November 2013, where delegates compiled and agreed upon the ‘Kampala Statement-for-Action on Reactive Nitrogen in Africa and Globally’. These contributions further underline scientifically the claims of the ‘Kampala Statement’, that simultaneously reducing pollution and increasing nitrogen available in the food system, by improved nitrogen management offers win-wins for environment, health and food security in both developing and developed economies. The specific messages conveyed in the Kampala Statement focus on improving nitrogen management (I), including the reduction of nitrogen losses from agriculture, industry, transport and energy sectors, as well as improving waste treatment and informing individuals and institutions (II). Highlighting the need for innovation and increased awareness among stakeholders (III

Impact of ADTT concepts on the management of global plutonium inventories

International Nuclear Information System (INIS)

Davidson, J.W.; Krakowski, R.A.; Arthur, E.D.

1996-01-01

The impact of a number of current and future nuclear systems on global plutonium inventories is assessed under realistic forecasts of nuclear power growth. Advanced systems, such as those employing Accelerator Driven Transmutation Technologies (ADTT) and liquid metal reactors, show significant promise for meeting future plutonium management needs. These analyses also indicate requirements for a higher level of detail in the nuclear fuel cycle model and for development of a metric to more quantitatively assess the proliferation risk of plutonium arising from the civilian fuel cycle

Collaborative Strategies for Sustainable EU Flood Risk Management: FOSS and Geospatial Tools—Challenges and Opportunities for Operative Risk Analysis

Directory of Open Access Journals (Sweden)

Raffaele Albano

2015-12-01

Full Text Available An analysis of global statistics shows a substantial increase in flood damage over the past few decades. Moreover, it is expected that flood risk will continue to rise due to the combined effect of increasing numbers of people and economic assets in risk-prone areas and the effects of climate change. In order to mitigate the impact of natural hazards on European economies and societies, improved risk assessment, and management needs to be pursued. With the recent transition to a more risk-based approach in European flood management policy, flood analysis models have become an important part of flood risk management (FRM. In this context, free and open-source (FOSS geospatial models provide better and more complete information to stakeholders regarding their compliance with the Flood Directive (2007/60/EC for effective and collaborative FRM. A geospatial model is an essential tool to address the European challenge for comprehensive and sustainable FRM because it allows for the use of integrated social and economic quantitative risk outcomes in a spatio-temporal domain. Moreover, a FOSS model can support governance processes using an interactive, transparent and collaborative approach, providing a meaningful experience that both promotes learning and generates knowledge through a process of guided discovery regarding flood risk management. This article aims to organize the available knowledge and characteristics of the methods available to give operational recommendations and principles that can support authorities, local entities, and the stakeholders involved in decision-making with regard to flood risk management in their compliance with the Floods Directive (2007/60/EC.

Acquisition management of the Global Transportation Network

Science.gov (United States)

2001-08-02

This report discusses the acquisition management of the Global transportation Network by the U.S. Transportation Command. This report is one in a series of audit reports addressing DoD acquisition management of information technology systems. The Glo...

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

Global Command and Control Management Structure

National Research Council Canada - National Science Library

1995-01-01

This instruction establishes: responsibilities for the Joint Staff, Services, Defense agencies, combatant and functional unified commands, and other activities regarding management of Global Command and Control (GCC...

Landslide risk assessment and landslide disaster risk management: on the missing link between scientific knowledge, decision making and practice (Sergey Soloviev Medal Lecture)

Science.gov (United States)

Alcántara-Ayala, Irasema

2016-04-01

Different investigations have been developed to address the uncertainty and quality evaluations leading to improve landslide hazard and risk assessment. With no doubt, and by using a wide range of scientific and technical approaches, they have contributed to a major extent to the understanding of the dynamics of landslide processes at different scales. Nonetheless, in a similar fashion than other hazards, it has been rather difficult to assess in a precise manner the multi-dimensions of their associated vulnerability and what is more, to effectively link risk assessments with disaster risk management. Owing to the double-character of landslide events, as natural and socio-natural hazards, mass movements turn out to be very complex processes, as their occurrence is also enhanced by population growth, socio-economic inequality, urbanization processes, land-degradation, unsustainable practices and mounting hazard exposure. Disaster Risk Management rope in the actions to attain Disaster Risk Reduction. The latter aims at decreasing existing hazard, vulnerability, and exposure, in addition to strengthening resilience, and very importantly, avoiding the construction of future disaster risk (UNISDR, 2015a). More specifically, and along the same line of ideas, the new-fangled Sendai Framework for Disaster Risk Reduction (SFDRR) 2015-2030 (UNISDR, 2015b) points towards reducing disaster risk and losses by engaging in a series of actions at local, national and global levels. Among them and of utterly significance are those initiatives related to the need of moving from risk assessment into disaster risk management. Consequently, and beyond championing scientific and technical capacity to strengthen landslide knowledge to assess vulnerability, hazard exposure and disaster risks, the challenge remains in the realm of promoting and improving permanent communication, dialogue and partnership among the science and technology communities, policymakers and other stakeholders

Approaches on Correlation between Board of Directors and Risk Management in Resilient Economies

Directory of Open Access Journals (Sweden)

Daniel Ştefan Armeanu

2017-01-01

Full Text Available The recent financial crisis highlighted the need for a strong emphasis on the effectiveness of board risk oversight practices. Good corporate governance upholds effective risk management, which in turn ensures the flexibility to reply to unpredicted threats and take benefit of opportunities. Thus, risk management affords corporate resilience that engenders competitive advantage due to the capacity to circumvent, deter, defend, react, and adjust to any kind of disturbance, besides recovering quickly. Guaranteeing that the board is prepared and adequately resilient to deal with a crisis circumstance is a crucial part of good governance. By employing a data set of companies listed in Romania, this paper analyzes whether boards of directors influence risk management. We measure boards by means of size, independence, diversity, establishment of Consultative Committees, as well as CEO duality, gender, age, and tenure. Based on ten financial ratios, we develop two risk indicators regarding shareholders’ wealth and short-term risk, alongside a global business failure risk tool, by means of principal component analysis. Furthermore, the output of the multivariate regression analysis show that CEO gender, the size of the board, and Audit Committee negatively influence business failure risk.

Globalization and Risk Sharing

OpenAIRE

Jaume Ventura; Fernando A. Broner

2006-01-01

We study the effects of globalization on risk sharing and welfare. Like the previous literature, we assume that governments cannot commit to enforce the repayment of debts owed by their citizens. Unlike the previous literature, we assume that governments cannot discriminate between domestic and foreign creditors when enforcing debt payments. This creates novel interactions between domestic and international trade in assets. (i) Increases in domestic trade raise the benefits of enforcement and...

The NASA risk management program

International Nuclear Information System (INIS)

Buchbinder, B.; Philipson, L.L.

1989-01-01

This paper reports that the NASA Risk Management Program has been established to ensure the appropriate application of risk-based procedures in support of the elimination, reduction, or acceptance of significant safety risks of concern in NASA. The term appropriate is emphasized, in that the particular procedures applied to each given risk are to reflect its character and prioritized importance, the technological and economic feasibility of its treatment. A number of key documents have been produced in support of this implementation. Databases, risk analysis tools, and risk communication procedures requisite to the execution of the risk management functions also are being developed or documented. Several risk management applications have been made and a comprehensive application to a major new NASA program is underway. This paper summarizes the development and current status of the NASA Risk Management Program. Some principal actions that have been carried out in NASA in consonance with the program are noted particularly, and views are presented on the program's likely future directions

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.

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,…

RISK MANAGEMENT OF GERMAN FRUIT PRODUCERS

Directory of Open Access Journals (Sweden)

Annkatrin PORSCH

2018-03-01

Full Text Available Horticultural farms in Germany face substantial business risks. However, fruit farms often struggle to implement appropriate risk management processes, and the risk management literature widely has ignored this farm type. The aim of the study was to improve the assessment of risks by farmers and the choice of suitable risk management instruments. Therefore, a risk management process based on subjective probabilities and suitable for small and medium-sized farms was developed, considering the specific needs of family run businesses. An online survey was conducted to achieve a comprehensive view of the risk perception and risk management practices of German fruit producers. Price and production risks are the most relevant risk categories for fruit farmers. However, among single risk sources, those in the people risk category were seen as the most important. Results show significant interactions among risk categories and a significant correlation between loss experience and the rating of risk categories. The assumption that risk averse farmers generally rate risks higher than risk neutral or risk seeking farmers cannot be confirmed. Diversification seems to be the most important risk management instrument for many fruit producers, especially diversification of marketing channels, farm income, and production activities. Further research should focus on the apparent inconsistency between the satisfaction with instruments reported by farmers and the actual implementation of many of them (e.g., hail insurance and anti-hail net. Furthermore, there is a need for research, to develop decision models considering the interactions of risks and risk management instruments, loss experience and risk seeking attitudes.

The PREVIEW Global Risk Data Platform: a geoportal to serve and share global data on risk to natural hazards

Directory of Open Access Journals (Sweden)

G. Giuliani

2011-01-01

Full Text Available With growing world population and concentration in urban and coastal areas, the exposure to natural hazards is increasing and results in higher risk of human and economic losses. Improving the identification of areas, population and assets potentially exposed to natural hazards is essential to reduce the consequences of such events. Disaster risk is a function of hazard, exposure and vulnerability. Modelling risk at the global level requires accessing and processing a large number of data, from numerous collaborating centres.

These data need to be easily updated, and there is a need for centralizing access to this information as well as simplifying its use for non GIS specialists. The Hyogo Framework for Action provides the mandate for data sharing, so that governments and international development agencies can take appropriate decision for disaster risk reduction.

Timely access and easy integration of geospatial data are essential to support efforts in Disaster Risk Reduction. However various issues in data availability, accessibility and integration limit the use of such data. In consequence, a framework that facilitate sharing and exchange of geospatial data on natural hazards should improve decision-making process. The PREVIEW Global Risk Data Platform is a highly interactive web-based GIS portal supported by a Spatial Data Infrastructure that offers free and interoperable access to more than 60 global data sets on nine types of natural hazards (tropical cyclones and related storm surges, drought, earthquakes, biomass fires, floods, landslides, tsunamis and volcanic eruptions and related exposure and risk. This application portrays an easy-to-use online interactive mapping interface so that users can easily work with it and seamlessly integrate data in their own data flow using fully compliant OGC Web Services (OWS.

The PREVIEW Global Risk Data Platform: a geoportal to serve and share global data on risk to natural hazards

Science.gov (United States)

Giuliani, G.; Peduzzi, P.

2011-01-01

With growing world population and concentration in urban and coastal areas, the exposure to natural hazards is increasing and results in higher risk of human and economic losses. Improving the identification of areas, population and assets potentially exposed to natural hazards is essential to reduce the consequences of such events. Disaster risk is a function of hazard, exposure and vulnerability. Modelling risk at the global level requires accessing and processing a large number of data, from numerous collaborating centres. These data need to be easily updated, and there is a need for centralizing access to this information as well as simplifying its use for non GIS specialists. The Hyogo Framework for Action provides the mandate for data sharing, so that governments and international development agencies can take appropriate decision for disaster risk reduction. Timely access and easy integration of geospatial data are essential to support efforts in Disaster Risk Reduction. However various issues in data availability, accessibility and integration limit the use of such data. In consequence, a framework that facilitate sharing and exchange of geospatial data on natural hazards should improve decision-making process. The PREVIEW Global Risk Data Platform is a highly interactive web-based GIS portal supported by a Spatial Data Infrastructure that offers free and interoperable access to more than 60 global data sets on nine types of natural hazards (tropical cyclones and related storm surges, drought, earthquakes, biomass fires, floods, landslides, tsunamis and volcanic eruptions) and related exposure and risk. This application portrays an easy-to-use online interactive mapping interface so that users can easily work with it and seamlessly integrate data in their own data flow using fully compliant OGC Web Services (OWS).

Science-Driven Approach to Disaster Risk and Crisis Management

Science.gov (United States)

Ismail-Zadeh, A.

2014-12-01

Disasters due to natural extreme events continue to grow in number and intensity. Disaster risk and crisis management requires long-term planning, and to undertake that planning, a science-driven approach is needed to understand and assess disaster risks and to help in impact assessment and in recovery processes after a disaster. Science is used in assessments and rapid modeling of the disaster impact, in forecasting triggered hazards and risk (e.g., a tsunami or a landslide after a large earthquake), in contacts with and medical treatment of the affected population, and in some other actions. At the stage of response to disaster, science helps to analyze routinely the disaster happened (e.g., the physical processes led to this extreme event; hidden vulnerabilities; etc.) At the stage of recovery, natural scientists improve the existing regional hazard assessments; engineers try to use new science to produce new materials and technologies to make safer houses and infrastructure. At the stage of disaster risk mitigation new scientific methods and approaches are being developed to study natural extreme events; vulnerability of society is periodically investigated, and the measures for increasing the resilience of society to extremes are developed; existing disaster management regulations are improved. At the stage of preparedness, integrated research on disaster risks should be developed to understand the roots of potential disasters. Enhanced forecasting and early warning systems are to be developed reducing predictive uncertainties, and comprehensive disaster risk assessment is to be undertaken at local, regional, national and global levels. Science education should be improved by introducing trans-disciplinary approach to disaster risks. Science can help society by improving awareness about extreme events, enhancing risk communication with policy makers, media and society, and assisting disaster risk management authorities in organization of local and regional

Information Security Management in Context of Globalization

OpenAIRE

Wawak, Slawomir

2012-01-01

Modern information technologies are the engine of globalization. At the same time, the global market influences the way of looking at information security. Information security thus becomes an increasingly important field. The article discuses the results of research on information security management systems in public administration in Poland.

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.

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.

[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.

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.

Prevalence of Gestational Diabetes and Risk of Progression to Type 2 Diabetes: a Global Perspective.

Science.gov (United States)

Zhu, Yeyi; Zhang, Cuilin

2016-01-01

Despite the increasing epidemic of diabetes mellitus affecting populations at different life stages, the global burden of gestational diabetes mellitus (GDM) is not well assessed. Systematically synthesized data on global prevalence estimates of GDM are lacking, particularly among developing countries. The hyperglycemic intrauterine environment as exemplified in pregnancies complicated by GDM might not only reflect but also fuel the epidemic of type 2 diabetes mellitus (T2DM). We comprehensively reviewed available data in the past decade in an attempt to estimate the contemporary global prevalence of GDM by country and region. We reviewed the risk of progression from GDM to T2DM as well. Synthesized data demonstrate wide variations in both prevalence estimates of GDM and the risk of progression from GDM to T2DM. Direct comparisons of GDM burden across countries or regions are challenging given the great heterogeneity in screening approaches, diagnostic criteria, and underlying population characteristics. In this regard, collaborative efforts to estimate global GDM prevalence would be a large but important leap forward. Such efforts may have substantial public health implications in terms of informing health policy makers and healthcare providers for disease burden and for developing more targeted and effective diabetes prevention and management strategies globally.

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)

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...

Global water risks and national security: Building resilience (Invited)

Science.gov (United States)

Pulwarty, R. S.

2013-12-01

The UN defines water security as the capacity of a population to safeguard sustainable access to adequate quantities of acceptable quality water for sustaining livelihoods, human well-being, and socio-economic development, for ensuring protection against water-borne pollution and water-related disasters, and for preserving ecosystems in a climate of peace and political stability. This definition highlights complex and interconnected challenges and underscores the centrality of water for environmental services and human aactivities. Global risks are expressed at the national level. The 2010 Quadrennial Defense Review and the 2010 National Security Strategy identify climate change as likely to trigger outcomes that will threaten U.S. security including how freshwater resources can become a security issue. Impacts will be felt on the National Security interest through water, food and energy security, and critical infrastructure. This recognition focuses the need to consider the rates of change in climate extremes, in the context of more traditional political, economic, and social indicators that inform security analyses. There is a long-standing academic debate over the extent to which resource constraints and environmental challenges lead to inter-state conflict. It is generally recognized that water resources as a security issue to date exists mainly at the substate level and has not led to physical conflict between nation states. In conflict and disaster zones, threats to water security increase through inequitable and difficult access to water supply and related services, which may aggravate existing social fragility, tensions, violence, and conflict. This paper will (1) Outline the dimensions of water security and its links to national security (2) Analyze water footprints and management risks for key basins in the US and around the world, (3) map the link between global water security and national concerns, drawing lessons from the drought of 2012 and elsewhere

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...

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

RISK MANAGEMENT WITH FINANCIAL DERIVATIVES: EMPIRICAL EVIDENCE FROM ROMANIAN NON-FINANCIAL FIRMS

Directory of Open Access Journals (Sweden)

Sorin Gabriel Anton

2016-12-01

Full Text Available Financial risk management has rapidly evolved over the past two decades and has become an indispensable function in many institutions from different area of activities. In the last two decades, as the financial markets have become more and more mature, an increasing number of firms from emerging economies have chosen to use derivatives to hedge financial risks. As a result, risk management with financial derivatives has attracted much attention recently, becoming an important topic in the financial literature. However, we know little about the use of financial derivatives by firms from emerging economies and about the effect of these instruments on firms’ risk and value. The aim of the paper is to provide new insights into the use of financial derivatives for hedging purpose by non-financial firms from emerging markets. We analyzed risk management practices on a sample of 68 non-financial firms listed at Bucharest Stock Exchange (BSE over a long time frame (2001 to 2011. We found that Romanian non-financial firms from our sample are exposed mainly to commodity price risk, currency risk, interest rate risk, and liquidity risk. More than half of the firms in our sample (55.88% publish in their annual reports the goal of risk management process. Our results show that 10.29% of non-financial firms in our sample use financial derivatives to hedge their currency, interest rate or commodity price risks. We also found that the volatility caused by the global financial crisis determined many firms to use financial derivatives over the period 2007-2011. Nevertheless, the use of financial derivatives by Romanian non-financial firms is low relative to values registered for other emerging economies. The most important factors that hindered the use of financial derivatives have been the low liquidity of exchange derivatives markets, high hedging costs, and the lack of risk management expertise. The traditional approach of managing risks individually is

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.

At your own risk. An inquiry about risk management in the ESI

International Nuclear Information System (INIS)

Anon.

1996-01-01

The UNIPEDE survey on Risk Management within the Electricity Supply Industry has provided a picture of the risks facing the Industry at present and an insight into the management of tomorrow's risks. The survey, in which 81 companies (85 respondents) from 31 countries took part shows that: nearly all types of risk identified in the questionnaire are perceived to be growing : the Risk Management role has become more centralized over the past three years: change will slow in the coming three ; the amount of top level attention given to Risk Management is increasing. However only 37 % of respondent companies have Risk Management as a regular top level management item ; environment-related risks and the safety of both employees and the public are perceived as the most critical risks facing the Industry. Over 80 % of surveyed companies consider that both are of increasing concern ; almost 90 % of respondents agreed that risk management processes should be implemented for both pure and speculative risks. Those who disagreed maintained that Risk Management should be 'realistic not theoretical' ; respondents from the US gave markedly different answers to those from the rest of the world. Risk Management in the US receives top level attention, with numerous separated risk management departments handling risk strategy

Strategic Global Logistics Management for Sourcing Road Oil in the U.S.

Directory of Open Access Journals (Sweden)

Raj Bridgelall

2017-12-01

Full Text Available The demand for asphalt and road oil heavily leverages local supply because the product is a hot binder of aggregates that form the final mix needed to pave roads. This paper discusses the supply chain characteristics of crude oil feedstock by considering the overall logistics of sourcing heavy crude oil domestically, or importing it from international trading partners. Heavy crude oil is a source of asphalt and road oil production. The study examines critical global and domestic logistics factors such as customs, regulations, security, environmental compliance, and natural events that will affect costs, schedules, and risks. The study provides a framework for decision-making in sourcing the feedstock. The study helps global logisticians and transportation managers improve strategic design and planning towards efficient sourcing.

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.

The Supply Chain Risk Management

OpenAIRE

Skitsko Volodymyr I.; Voynikov Mykola Yu.

2018-01-01

The article considers current approaches of risk-management in supply chains, the main steps of the risk management process are analyzed and detailed both for a separate enterprise – participant of supply chain, for the supply chain in general, and for the Beer game, based on the international risk management standards. The article provides a way to assess the risks of the «producer» in the Beer game according to the three strategies of its behavior, which presumably can correspond to differe...

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

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)

The Global Earthquake Model and Disaster Risk Reduction

Science.gov (United States)

Smolka, A. J.

2015-12-01

Advanced, reliable and transparent tools and data to assess earthquake risk are inaccessible to most, especially in less developed regions of the world while few, if any, globally accepted standards currently allow a meaningful comparison of risk between places. The Global Earthquake Model (GEM) is a collaborative effort that aims to provide models, datasets and state-of-the-art tools for transparent assessment of earthquake hazard and risk. As part of this goal, GEM and its global network of collaborators have developed the OpenQuake engine (an open-source software for hazard and risk calculations), the OpenQuake platform (a web-based portal making GEM's resources and datasets freely available to all potential users), and a suite of tools to support modelers and other experts in the development of hazard, exposure and vulnerability models. These resources are being used extensively across the world in hazard and risk assessment, from individual practitioners to local and national institutions, and in regional projects to inform disaster risk reduction. Practical examples for how GEM is bridging the gap between science and disaster risk reduction are: - Several countries including Switzerland, Turkey, Italy, Ecuador, Papua-New Guinea and Taiwan (with more to follow) are computing national seismic hazard using the OpenQuake-engine. In some cases these results are used for the definition of actions in building codes. - Technical support, tools and data for the development of hazard, exposure, vulnerability and risk models for regional projects in South America and Sub-Saharan Africa. - Going beyond physical risk, GEM's scorecard approach evaluates local resilience by bringing together neighborhood/community leaders and the risk reduction community as a basis for designing risk reduction programs at various levels of geography. Actual case studies are Lalitpur in the Kathmandu Valley in Nepal and Quito/Ecuador. In agreement with GEM's collaborative approach, all

Foreign exchange risk in terms of global financial crisis

Directory of Open Access Journals (Sweden)

Michał Buszko

2009-12-01

Full Text Available Fx risk is one of the most important types of risk of financial activity. In practice, this risk comprises several risk aspects related to currencies exchanging, however most often it is identified with unexpected changes of their prices. In terms of the global financial crisis of 2007–2009, the fx risk has raised significantly, revealing a high daily volatility, increased spreads and the reversal of long-term exchange rate trends. Such increased risk especially influenced emerging markets economies, including Poland. Its consequence was quick strengthening of Polish currency at the beginning of the global crisis followed by a very sudden fall of its value. This event led to a substantial increase of banking risk, investment funds and corporate operations. It changed the structure of GDP sources as well as generated huge losses for exporting companies, using currency options hedging strategies.

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”.

Probabilistic risk assessment as an aid to risk management

International Nuclear Information System (INIS)

Garrick, B.J.

1982-01-01

Probabilistic risk assessments are providing important insights into nuclear power plant safety. Their value is two-fold: first as a means of quantifying nuclear plant risk including contributors to risk, and second as an aid to risk management. A risk assessment provides an analytical plant model that can be the basis for performing meaningful decision analyses for controlling safety. It is the aspect of quantitative risk management that makes probabilistic risk assessment an important technical discipline of the future

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.

Branding and the Risk Management Imperative

OpenAIRE

Fournier Susan; Srinivasan Shuba

2018-01-01

In an increasingly risky socioeconomic environment, management needs to proactively consider brand-related risks. To understand brands as tools for risk management, they need to understand four types of brand risk: brand reputation risk, brand dilution risk, brand cannibalization risk and brand stretch risk.

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...

Methods of Financial Risk Management

Directory of Open Access Journals (Sweden)

Korzh Natalia

2016-10-01

Full Text Available The essence and nature of financial risks are investigated. Their classification is conducted. The features of financial risk management and the main methods of management are considered. The ways of risk compensation are identified. It is proved that the objective external risk basis is such market imperfections as externalities of enterprises and incomplete information about the operation of the business environment and internal objective basis risk – the objective function to maximise profits in a competitive environment. It is revealed that to compensate market imperfections business entities should develop a strategy that combines fill in missing information and neutralise or minimise externalities that tactically implemented in financial risk management programs.

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

Bringing the Global Scale to Education in Natural Resources Management

Science.gov (United States)

Turner, D. P.

2017-12-01

Given the ominous trajectory of rapid global environmental change, environmental managers must grapple with global scale structures, processes, and concepts. The concept of the Anthropocene Epoch, albeit contested, is highly integrative across disciplines and temporal scales, and thus potentially helpful in the context of educating environmental managers. It can be framed temporally in terms of the geologic history of the global environment, the initiation and acceleration of anthropogenic impacts on the environment, and a future global environment that is highly dependent on human decisions. A key lesson from Earth's pre-human geologic history is that global climate has generally been linked to greenhouse gas concentrations, and many mass extinction events were associated with high greenhouse gas concentrations. The pervasive impacts of the contemporary technosphere on the biosphere point especially to the need to conserve biosphere capital. Scenarios of Earth's future environment, based on Earth system models, suggest that business-as-usual technologies and economic practices will set the stage for a biophysical environment that is hostile (if not inimical) to a high technology global civilization. These lessons can inform and inspire sub-global management efforts to mitigate and adapt to global environmental change.

MANAGEMENT OF SECURITY FOR BANK LOANS ON THE BASIS OF RISK MANAGEMENT

Directory of Open Access Journals (Sweden)

Viktoriia Kovalenko

2016-03-01

Full Text Available The article aims to study methods and tools for risk management to ensure bank loans.  Proved that the effectiveness of risk management to ensure bank loans depends on consistency,  adequacy methods of evaluation, quality monitoring and timely response system of the banks and the  regulator. The article is to develop recommendations to improve the effectiveness of risk management providing bank loans considering the risks inherent in the process support mortgage portfolio of banks in the  face of considerable uncertainty functioning banks. It is proved that the risk provision of bank loans in the loan management should be considered  through risk characteristics that form the aggregate credit risk. Substantiated that risk management software meets the classic risk management, which identifies  four main stages: identification; risk assessment software; control risk; minimizing risk. Keywords: credit risk provision, loan, risk management, reserves.JEL: G 28

Branding and the Risk Management Imperative

Directory of Open Access Journals (Sweden)

Fournier Susan

2018-05-01

Full Text Available In an increasingly risky socioeconomic environment, management needs to proactively consider brand-related risks. To understand brands as tools for risk management, they need to understand four types of brand risk: brand reputation risk, brand dilution risk, brand cannibalization risk and brand stretch risk.

Considerations on Integrating Risk and Quality Management

Directory of Open Access Journals (Sweden)

Maria POPESCU

2011-03-01

Full Text Available This paper aims to highlight the links between risk management and quality management and to study the possibility of their integrated approach. The study reviews the evolution of risk approach within organizations and stresses the need to increase the effectiveness of this approach by incorporating risk management methodology in the quality management system. Starting from this idea, the authors present the current state of risk approach into quality management, basic rules of integrated quality-risk management and major difficulties which may arise in the implementation of integrated quality–risk systems.

Ensuring on-time quality data management deliverables from global clinical data management teams

Directory of Open Access Journals (Sweden)

Zia Haque

2010-01-01

Full Text Available The growing emphasis on off-site and off-shore clinical data management activities mandates a paramount need for adequate solutions geared toward on-time, quality deliverables. The author has been leading large teams that have been involved in successful global clinical data management endeavors. While each study scenario is unique and has to be approached as such, there are several elements in defining strategy and team structure in global clinical data management that can be applied universally. In this article, key roles, practices, and high-level procedures are laid out as a road map to ensure success with the model.

National water resource management as a global problem: The example of Egypt

Science.gov (United States)

Elshorbagy, A. A.; Abdelkader, A. A.; Tuninetti, M.; Laio, F.; Ridolfi, L.; Fahmy, H.

2017-12-01

The engineering redistribution of water remains limited in its spatial scope, when compared with the socioeconomic redistribution of water in its virtual form. Virtual water (VW) embedded in products has its own human-induced cycle by moving across the globe. There is a significant body of literature on global VW trade networks (VWTN), with most studies focused on the network structure and the variables controlling its behavior. It was shown that the importing nations will play an important role in the evolution of the network dynamics. The increased connectivity of the global network highlights the risk of systemic disruptions and the vulnerability of the global food, especially when exporting countries change to non-exporting ones. The existing models of VWTN characterize the properties of the network, along with its nodes and links. Acknowledging its contribution to understand the global redistribution of virtual water, hardly can this approach attract potential users to adopt it. The VW trade (VWT) modeling needs to be repositioned to allow resource managers and policy makers at various scales to benefit from it and link global VW dynamics to their local decisions. The aim of this research is to introduce a new modeling approach for the VWT where detailed national scale water management is nested within the coarser global VWTN. The case study of Egypt, the world biggest importer of wheat, is considered here because its population growth and limitations of water and arable land position it as a significant node in the global network. A set of potential scenarios of Egypt's future, driven by population growth, development plans, consumption patterns, technology change, and water availability are developed. The annual national food and water balance in every scenario is calculated to estimate the potential for VW export and import of Egypt. The results indicate that Egypt's demand for food might cause unexpectedly higher demands on other countries' water resources

Managing global accounts.

Science.gov (United States)

Yip, George S; Bink, Audrey J M

2007-09-01

Global account management--which treats a multinational customer's operations as one integrated account, with coherent terms for pricing, product specifications, and service--has proliferated over the past decade. Yet according to the authors' research, only about a third of the suppliers that have offered GAM are pleased with the results. The unhappy majority may be suffering from confusion about when, how, and to whom to provide it. Yip, the director of research and innovation at Capgemini, and Bink, the head of marketing communications at Uxbridge College, have found that GAM can improve customer satisfaction by 20% or more and can raise both profits and revenues by at least 15% within just a few years of its introduction. They provide guidelines to help companies achieve similar results. The first steps are determining whether your products or services are appropriate for GAM, whether your customers want such a program, whether those customers are crucial to your strategy, and how GAM might affect your competitive advantage. If moving forward makes sense, the authors' exhibit, "A Scorecard for Selecting Global Accounts," can help you target the right customers. The final step is deciding which of three basic forms to offer: coordination GAM (in which national operations remain relatively strong), control GAM (in which the global operation and the national operations are fairly balanced), and separate GAM (in which a new business unit has total responsibility for global accounts). Given the difficulty and expense of providing multiple varieties, the vast majority of companies should initially customize just one---and they should be careful not to start with a choice that is too ambitious for either themselves or their customers to handle.

Records management and risk management at Kenya Commercial Bank Limited, Nairobi

Directory of Open Access Journals (Sweden)

Cleophas Ambira

2011-03-01

Full Text Available Background: This paper reported empirical research findings of an MPhil in Information Sciences (Records and Archives Management study conducted at Moi University in Eldoret, Kenya between September 2007 and July 2009.Objectives: The aim of the study was to investigate records management and risk management at Kenya Commercial Bank (KCB Ltd, in the Nairobi area and propose recommendations to enhance the functions of records and risk management at KCB. The specific objectives of the study were to, (1 establish the nature and type of risks to which KCB is exposed, (2 conduct business process analysis and identify the records generated by KCB, (3 establish the extent to which records management is emphasised within KCB as a tool to managing risk, (4 identify which vital records of KCB need protection because of their nature and value to the bank and (5 make recommendations to enhance current records management practices to support the function of risk management in KCB.Method: The study was qualitative. Data were collected through face-to-face interviews. The theoretical framework of the study involved triangulation of the records continuum model by Frank Upward (1980 and the integrated risk management model by the Government of Canada (2000.Results: The key findings of the study were, (1 KCB is exposed to a wide range of risks by virtue of its business, (2 KCB generates a lot of records in the course of its business activities and (3 there are inadequate records management practices and systems, the lack of which undermines the risk management function.Conclusion: The findings of this study have revealed the need to strengthen records management as a critical success factor in risk mitigation within KCB and, by extension, the Kenyan banking industry. A records management model was proposed to guide the management of records within an enterprise-wide risk management framework in the bank.

Meeting global health challenges through operational research and management science.

Science.gov (United States)

Royston, Geoff

2011-09-01

This paper considers how operational research and management science can improve the design of health systems and the delivery of health care, particularly in low-resource settings. It identifies some gaps in the way operational research is typically used in global health and proposes steps to bridge them. It then outlines some analytical tools of operational research and management science and illustrates how their use can inform some typical design and delivery challenges in global health. The paper concludes by considering factors that will increase and improve the contribution of operational research and management science to global health.

SEISMIC RISK CARTOGRAPHIC VISUALIZATION FOR CRISIS MANAGEMENT

Directory of Open Access Journals (Sweden)

Nina I. Frolova

2014-01-01

Full Text Available Earthquake loss estimations before future events and following strong earthquakesin emergency mode and their corresponding visualization are extremely important for properdecision on preventive measures and effective response in order to save lives and properties. The paper addresses the methodological issues of seismic risk and vulnerability assessment, mapping with GIS technology application. Requirements for simulation models,databases used at different levels, as well as ways of visualizations oriented for EmergencyManagement Agencies, as well federal and local authorities are discussed. Examples ofmapping at the different levels: global, country, region and urban one are given and theinfluence of input data uncertainties on the reliability of loss computations is analyzed.

Teaching Disaster Risk Management: Lessons from the Rotman School of Management

Directory of Open Access Journals (Sweden)

ANDRÁS TILCSIK

Full Text Available This article describes how disaster risk management topics are taught at the Rotman School of Management at the University of Toronto and thus highlights opportunities for developing similar course modules on disaster risk management at other institutions. An undergraduate and MBA elective course, titled Catastrophic Failure in Organizations, contains four modules that are directly relevant to disaster risk management. The first module focuses on the need to move from risk indifference to risk sensitivity. The second module considers the importance of business continuity and crisis management plans and explores their common shortcomings. The third module uses a case study to examine the topic of prospective risk management. The fourth module focuses on the vulnerability of supply chains and other complex systems to disaster risk. The article describes the details of implementing these modules and discusses opportunities for further integration of disaster risk management topics in other parts of the curriculum.

International and Russian practice of banking risk-management. Mortgage risks

Directory of Open Access Journals (Sweden)

A. V. Nikolaeva

2016-01-01

Full Text Available The goal of the work is to compare Russian norms and standards of risk management of mortgage lending with international standards of risk management based on the documents of the Basel Committee. The article also aims to analyze new banking tools of risk management of mortgage lending, that arise in connection with the application of international norms and standards of risk management.Materials and Methods: The main documents considered in the article are the agreements on capital, issued by the Basel Committee on Banking Supervision: Basel-I (1988, Basel-II (2004 and Basel-III (2010, as well as instructions and standing orders issued by the Central Bank of Russia, including: Instruction № 139-I "Ob obiazatel'nykh normativakh bankov", instruction № 1 "O poriadke regulirovaniia deiatel'nosti kommercheskikh bankov", the standing order number 215-P "O metodike opredeleniia sobstvennykh sredstv (kapitala kreditnykh organizatsii", the standing order № 395-P "O metodike opredeleniia velichiny sobstvennykh sredstv (kapitala kreditnykh organizatsii («BAZEL III»" and others. On the basis of these documents the work examines and summarizes the main methods of risk management of mortgage lending, such as: comparison and analysis of risk management techniques, study of the basic documents regulating risk management in banks and generalization of risk management methods in the segment of mortgage lending.Results: The article analyzes the legal and methodological basis of risk management and provides practical methods that can be used in practice for managerial decisions in a constantly changing external economic environment. It also analyses international and native risk management. Russian standards of risk-management are compared with international. The work conducts a critical review of the effects of introduction of international standards in Russia. Special attention is paid to the practice of mortgage risk-management

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....

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

Modelling global distribution, risk and mitigation strategies of floating plastic pollution

Science.gov (United States)

van Sebille, Erik; Wilcox, Chris; Sherman, Peter; Hardesty, Britta Denise; Lavender Law, Kara

2016-04-01

Microplastic debris floating at the ocean surface can harm marine life. Understanding the severity of this harm requires knowledge of plastic abundance and distributions. Dozens of expeditions measuring microplastics have been carried out since the 1970s, but they have primarily focused on the North Pacific and North Atlantic accumulation zones, with much sparser coverage elsewhere. Here, we use the largest dataset of microplastic measurements assembled to date to assess the confidence we can have in global estimates of microplastic abundance and mass. We use a rigorous statistical framework to standardise a global dataset of plastic marine debris measured using surface-trawling plankton nets and couple this with three different ocean circulation models to spatially interpolate the observations. Our estimates show that the accumulated number of microplastic particles in 2014 ranges from 15 to 51 trillion particles, weighing between 93 and 236 thousand metric tons. A large fraction of the uncertainty in these estimates comes from sparse sampling in coastal and Southern Hemisphere regions. We then use this global distribution of small floating plastic debris to map out where in the ocean the risk to marine life (in particular seabirds and plankton growth) is greatest, using a quantitative risk framework. We show that the largest risk occurs not necessarily in regions of high plastic concentration, but rather in regions of extensive foraging with medium-high plastic concentrations such as coastal upwelling regions and the Southern Ocean. Finally, we use the estimates of distribution to investigate where in the ocean plastic can most optimally be removed, assuming hypothetical clean-up booms following the ideas from The Ocean Cleanup project. We show that mitigation of the plastic problem can most aptly be done near coastlines, particularly in Asia, rather than in the centres of the gyres. Based on these results, we propose more focus on the coastal zones when

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.

INTERNAL AUDIT AND RISK MANAGEMENT

OpenAIRE

Elena RUSE; Georgiana SUSMANSCHI (BADEA); Daniel DĂNECI-PĂTRĂU

2014-01-01

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 (un)chance 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 int...

Systematic implementation of clinical risk management in a large university hospital: the impact of risk managers.

Science.gov (United States)

Sendlhofer, Gerald; Brunner, Gernot; Tax, Christa; Falzberger, Gebhard; Smolle, Josef; Leitgeb, Karina; Kober, Brigitte; Kamolz, Lars Peter

2015-01-01

For health care systems in recent years, patient safety has increasingly become a priority issue. National and international strategies have been considered to attempt to overcome the most prominent hazards while patients are receiving health care. Thereby, clinical risk management (CRM) plays a dominant role in enabling the identification, analysis, and management of potential risks. CRM implementation into routine procedures within complex hospital organizations is challenging, as in the past, organizational change strategies using a top-down approach have often failed. Therefore, one of our main objectives was to educate a certain number of risk managers in facilitating CRM using a bottom-up approach. To achieve our primary purpose, five project strands were developed, and consequently followed, introducing CRM: corporate governance, risk management (RM) training, CRM process, information, and involvement. The core part of the CRM process involved the education of risk managers within each organizational unit. To account for the size of the existing organization, we assumed that a minimum of 1 % of the workforce had to be trained in RM to disseminate the continuous improvement of quality and safety. Following a roll-out plan, CRM was introduced in each unit and potential risks were identified. Alongside the changes in the corporate governance, a hospital-wide CRM process was introduced resulting in 158 trained risk managers correlating to 2.0 % of the total workforce. Currently, risk managers are present in every unit and have identified 360 operational risks. Among those, 176 risks were scored as strategic and clustered together into top risks. Effective meeting structures and opportunities to share information and knowledge were introduced. Thus far, 31 units have been externally audited in CRM. The CRM approach is unique with respect to its dimension; members of all health care professions were trained to be able to identify potential risks. A network of risk

Risk Management in Insurance Companies

OpenAIRE

Yang, Xufeng

2006-01-01

Insurance is the uncertain business in uncertain society. Today, insures face more complex and difficult risks. Efficient risk management mechanisms are essential for the insurers. The paper is set out initially to explore UK insurance companies risk management and risk disclosure by examining companies annual report after all the listed insurance companies are required to disclose risk information in their annual report, which seeks to reflect the recent development in UK insurance companies...

Financial risk management of pharmacy benefits.

Science.gov (United States)

Saikami, D

1997-10-01

Financial risk management of pharmacy benefits in integrated health systems is explained. A managed care organization should assume financial risk for pharmacy benefits only if it can manage the risk. Horizontally integrated organizations often do not have much control over the management of drug utilization and costs. Vertically integrated organizations have the greatest ability to manage pharmacy financial risk; virtual integration may also be compatible. Contracts can be established in which the provider is incentivized or placed at partial or full risk. The main concerns that health plans have with respect to pharmacy capitation are formulary management and the question of who should receive rebates from manufacturers. The components needed to managed pharmacy financial risk depend on the type of contract negotiated. Health-system pharmacists are uniquely positioned to take advantage of opportunities opening up through pharmacy risk contracting. Functions most organizations must provide when assuming pharmacy financial risk can be divided into internal and external categories. Internally performed functions include formulary management, clinical pharmacy services and utilization management, and utilization reports for physicians. Functions that can be outsourced include claims processing and administration, provider- and customer support services, and rebates. Organizations that integrate the pharmacy benefit across the health care continuum will be more effective in controlling costs and improving outcomes than organizations that handle this benefit as separate from others. Patient care should not focus on payment mechanisms and unit costs but on developing superior processes and systems that improve health care.

CULTURAL DIMENSIONS IN GLOBAL HUMAN RESOURCE MANAGEMENT: IMPLICATIONS FOR NIGERIA

Directory of Open Access Journals (Sweden)

John N. N. Ugoani

2016-09-01

Full Text Available As enterprise operations continue to be globalized through overseas expansions, joint ventures, mergers and acquisitions as well as strategic relationships and partnerships transnational organizations need to give attention to issues of culture in human resource management practices as a panacea for prosperity. The global organization is competent if only it is able to bridge the gap between management and culture so that personal relationships with other peoples in the organization and society become in harmony. This is critical because cultural relativity and reality in organizations influence operations. The study was designed to explore possible relationships between cultural dimensions and global human resource management. The survey research design was employed and data generated through primary and secondary sources. The participants comprised of 385 respondents from a cross-section of the population in Nigeria. By Chi-Square test, it was found that culture has a significant positive relationship with global human resource management.

Drought early warning and risk management in a changing environment

Science.gov (United States)

Pulwarty, R. S.

2011-12-01

Drought has long been recognized as falling into the category of incremental but long-term and cumulative environmental changes, also termed slow-onset or creeping events. These event types would include: air and water quality decline, desertification processes, deforestation and forest fragmentation, loss of biodiversity and habitats, and nitrogen overloading, among others. Climate scientists continue to struggle with recognizing the onset of drought and scientists and policy makers continue to debate the basis (i.e., criteria) for declaring an end to a drought. Risk-based management approaches to drought planning at the national and regional levels have been recommended repeatedly over the years but their prototyping, testing and operational implementation have been limited. This presentation will outline two avenues for disaster risk reduction in the context of drought (1) integrated early warning information systems, and (2) linking disaster risk reduction to climate change adaptation strategies. Adaptation involves not only using operational facilities and infrastructure to cope with the immediate problems but also leaving slack or reserve for coping with multiple stress problems that produce extreme impacts and surprise. Increasing the 'anticipatability' of an event, involves both monitoring of key indicators from appropriate baseline data, and observing early warning signs that assumptions in risk management plans are failing and critical transitions are occurring. Illustrative cases will be drawn from the IPCC Special Report on Managing the Risks of Extreme Events and Disasters (2011), the UN Global Assessment of Disaster Risk Reduction (2011) and implementation activities in which the author has been engaged. Most drought early warning systems have tended to focus on the development and use of physical system indicators and forecasts of trends and thresholds. We show that successful early warning systems that meet expectations of risk management also have

"Near-term" Natural Catastrophe Risk Management and Risk Hedging in a Changing Climate

Science.gov (United States)

Michel, Gero; Tiampo, Kristy

2014-05-01

Competing with analytics - Can the insurance market take advantage of seasonal or "near-term" forecasting and temporal changes in risk? Natural perils (re)insurance has been based on models following climatology i.e. the long-term "historical" average. This is opposed to considering the "near-term" and forecasting hazard and risk for the seasons or years to come. Variability and short-term changes in risk are deemed abundant for almost all perils. In addition to hydrometeorological perils whose changes are vastly discussed, earthquake activity might also change over various time-scales affected by earlier local (or even global) events, regional changes in the distribution of stresses and strains and more. Only recently has insurance risk modeling of (stochastic) hurricane-years or extratropical-storm-years started considering our ability to forecast climate variability herewith taking advantage of apparent correlations between climate indicators and the activity of storm events. Once some of these "near-term measures" were in the market, rating agencies and regulators swiftly adopted these concepts demanding companies to deploy a selection of more conservative "time-dependent" models. This was despite the fact that the ultimate effect of some of these measures on insurance risk was not well understood. Apparent short-term success over the last years in near-term seasonal hurricane forecasting was brought to a halt in 2013 when these models failed to forecast the exceptional shortage of hurricanes herewith contradicting an active-year forecast. The focus of earthquake forecasting has in addition been mostly on high rather than low temporal and regional activity despite the fact that avoiding losses does not by itself create a product. This presentation sheds light on new risk management concepts for over-regional and global (re)insurance portfolios that take advantage of forecasting changes in risk. The presentation focuses on the "upside" and on new opportunities

Gender, Race, and Risk: Intersectional Risk Management in the Sale of Sex Online.

Science.gov (United States)

Moorman, Jessica D; Harrison, Kristen

2016-09-01

Sex worker experience of risk (e.g., physical violence or rape) is shaped by race, gender, and context. For web-based sex workers, experience of risk is comparatively minimal; what is unclear is how web-based sex workers manage risk and if online advertising plays a role in risk management. Building on intersectionality theory and research exploring risk management in sex work, we content-analyzed 600 escort advertisements from Backpage.com ( http://www.backpage.com ) to explore risk management in web-based sex work. To guide our research we asked: Do advertisements contain risk management messages? Does the use of risk management messaging differ by sex worker race or gender? Which groups have the highest overall use of risk management messages? Through a multivariate analysis of covariance (MANCOVA) we found that advertisements contained risk management messages and that uses of these phrases varied by race and gender. Blacks, women, and transgender women drove the use of risk management messages. Black and White transgender women had the highest overall use of these phrases. We conclude that risk management is an intersectional practice and that the use of risk management messages is a venue-specific manifestation of broader risk management priorities found in all venues where sex is sold.

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

Global Drought Proportional Economic Loss Risk Deciles

Data.gov (United States)

National Aeronautics and Space Administration — Global Drought Proportional Economic Loss Risk Deciles is a 2.5 minute grid of drought hazard economic loss as proportions of Gross Domestic Product (GDP) per...

PERFORMANCE IN INTERNAL CONTROL AND RISK MANAGEMENT

Directory of Open Access Journals (Sweden)

JELER (POPA IOANA

2017-06-01

Full Text Available The purpose of this article is to highlight the importance of internal control and risk management. In practice, economic entities meet a variety of risks that have the origins from the internal environment or the external one. Although there are different of views on addressing the concept of risk - threats or opportunities, event or action, accordingly uncertain, proposed by specialists in risk management in this article we try to present these issues and identify techniques to counter risks occurrence. In this article we present also means managing risk and why needs to be implemented at institutional level a risk management. The paper concludes by highlight the role of efficient risk management in the company’s management and company's activities.

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.

Global Security Program Management Plan

Energy Technology Data Exchange (ETDEWEB)

Bretzke, John C. [Los Alamos National Lab. (LANL), Los Alamos, NM (United States)

2014-03-25

The Global Security Directorate mission is to protect against proliferant and unconventional nuclear threats –regardless of origin - and emerging new threats. This mission is accomplished as the Los Alamos National Laboratory staff completes projects for our numerous sponsors. The purpose of this Program Management Plan is to establish and clearly describe the GS program management requirements including instructions that are essential for the successful management of projects in accordance with our sponsor requirements. The detailed information provided in this document applies to all LANL staff and their subcontractors that are performing GS portfolio work. GS management is committed to a culture that ensures effective planning, execution, and achievement of measurable results in accordance with the GS mission. Outcomes of such a culture result in better communication, delegated authority, accountability, and increased emphasis on safely and securely achieving GS objectives.

The Strategic-Renovation Banks’ Risks Management

Directory of Open Access Journals (Sweden)

Yeremeychuk Raisa A.

2017-04-01

Full Text Available The article is aimed at developing approaches to implementation of the strategic-renovation risk management. Essence of risk theories was researched, the concept of «risk» in the bank’s management system were analyzed. On the basis of a theoretical generalization of scientific literature and the carried out analysis of existing risk management strategies to ensure the security of banking business, the strategy of renovation management has been selected. Because bank risks are part of the economic risk system, they are complex in their nature. However, given the importance of bank risks, the interpretation of their essence is still a debating matter. In a certain number of cases, their essence is replaced by the cause of occurrence, that is, all the different circumstances, factors that lead to the losses. So today, banks are considering risks, in particular, not only as a source of possible losses, but also as an opportunity to generate additional profits. An algorithm for taking a strategic-renovation decision on the banks’ risks management system has been proposed.

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

Perceptions of Australian marine protected area managers regarding the role, importance, and achievability of adaptation for managing the risks of climate change

Directory of Open Access Journals (Sweden)

Christopher Cvitanovic

2014-12-01

Full Text Available The rapid development of adaptation as a mainstream strategy for managing the risks of climate change has led to the emergence of a broad range of adaptation policies and management strategies globally. However, the success of such policies or management interventions depends on the effective integration of new scientific research into the decision-making process. Ineffective communication between scientists and environmental decision makers represents one of the key barriers limiting the integration of science into the decision-making process in many areas of natural resource management. This can be overcome by understanding the perceptions of end users, so as to identify knowledge gaps and develop improved and targeted strategies for communication and engagement. We assessed what one group of environmental decision makers, Australian marine protected area (MPA managers, viewed as the major risks associated with climate change, and their perceptions regarding the role, importance, and achievability of adaptation for managing these risks. We also assessed what these managers perceived as the role of science in managing the risks from climate change, and identified the factors that increased their trust in scientific information. We do so by quantitatively surveying 30 MPA managers across 3 Australian management agencies. We found that although MPA managers have a very strong awareness of the range and severity of risks posed by climate change, their understanding of adaptation as an option for managing these risks is less comprehensive. We also found that although MPA managers view science as a critical source of information for informing the decision-making process, it should be considered in context with other knowledge types such as community and cultural knowledge, and be impartial, evidence based, and pragmatic in outlining policy and management recommendations that are realistically achievable.

An enhanced data-analytic framework for integrating risk management and performance management

International Nuclear Information System (INIS)

Thekdi, Shital; Aven, Terje

2016-01-01

There is increasing interest for agencies and industries to develop risk management processes for a wide variety of applications. Traditional risk management processes are motivated by controlling risk and avoiding losses. In contrast, other organizational processes focus on managing performance and value generation. In this paper we argue that risk management also adds an important contribution to these processes. However, this requires “proper” risk management extending beyond narrow safety oriented perspectives built on quantitative risk analysis and tolerability/acceptance criteria. There is need for a broad risk-performance framework with uncertainty being a main component of risk, and where knowledge and surprises are adequately reflected. In the paper we present and discuss such a framework. The framework is developed on the basis of an analysis of combinations of different risk management and performance management practices/policies. We show how the risk and performance management processes can be improved by proper risk conceptualization and a holistic thinking on how to develop and use goals in the organization, how to balance different concerns, and consider the need for agility – “sensitivity to operations”, as well as how to give weight to vulnerabilities, resilience, and antifragility. - Highlights: • We relate key performance management and risk management principles. • We propose an enhanced framework to unify thinking of performance and risk. • We apply the framework to a public-private partnership case study.

Tank waste remediation system programmatic risk management plan

International Nuclear Information System (INIS)

Seaver, D.A.

1995-01-01

This risk management plan defines the approach to be taken to managing risks in the Tank Waste Remediation System (TWRS) program. It defines the actions to be taken at the overall program level, and the risk management requirements for lower-level projects and other activities. The primary focus of this plan is on ''programmatic'' risks, i.e., risks with respect to the cost, schedule, and technical performance of the program. The plan defines an approach providing managers with the flexibility to manage risks according to their specific needs, yet creates. The consistency needed for effectiveness across the program. The basic risk management approach uses a risk management list for the program, each project, and additional lower-level activities. The risk management list will be regularly reviewed and updated by appropriate level of management. Each list defines key risks, their likelihood and consequences, risk management actions to be taken, responsible individuals, and other management information

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…

Information systems for risk management

OpenAIRE

Michael S. Gibson

1997-01-01

Risk management information systems are designed to overcome the problem of aggregating data across diverse trading units. The design of an information system depends on the risk measurement methodology that a firm chooses. Inherent in the design of both a risk management information system and a risk measurement methodology is a tradeoff between the accuracy of the resulting measures of risk and the burden of computing them. Technical progress will make this tradeoff more favorable over time...

How to manage project opportunity and risk why uncertainty management can be a much better approach than risk management

CERN Document Server

Ward, Stephen

2011-01-01

Since I wrote the Foreword for the second edition of this book, risk management processes have become much more widely used, but controversy about what should be done and how best to do it has grown. Managing risk is a risky business. Chapman and Ward provide an in-depth explanation of why it is important to understand and manage underlying uncertainty in all its forms, in order to realise opportunities more fully and enhance corporate performance. They show what best practice should look like. The implications go well beyond the conventional wisdom of project risk management, providing an enl

Impact of Globalization on the Human Resource Management ...

African Journals Online (AJOL)

Impact of Globalization on the Human Resource Management Function in ... impact on the management of human resources in developing countries including Kenya. ... The non-core jobs have been outsourced which has led to an increase in ...

Enterprise risk management: A process for enhanced management and improved performance

OpenAIRE

Gates , Stephen; Nicolas , Jean-Louis; Walker , Paul L.

2012-01-01

Some company boards of directors and management teams are still reluctant to embrace enterprise risk management (ERM) because of the uncertainty regarding its value to the bottom line. A survey of audit and risk management executives suggests that the use of ERM leads to increased management consensus, better-informed decisions, enhanced communication of risk taking, and greater management accountability.

Gasoline risk management: a compendium of regulations, standards, and industry practices.

Science.gov (United States)

Swick, Derek; Jaques, Andrew; Walker, J C; Estreicher, Herb

2014-11-01

This paper is part of a special series of publications regarding gasoline toxicology testing and gasoline risk management; this article covers regulations, standards, and industry practices concerning gasoline risk management. Gasoline is one of the highest volume liquid fuel products produced globally. In the U.S., gasoline production in 2013 was the highest on record (API, 2013). Regulations such as those pursuant to the Clean Air Act (CAA) (Clean Air Act, 2012: § 7401, et seq.) and many others provide the U.S. federal government with extensive authority to regulate gasoline composition, manufacture, storage, transportation and distribution practices, worker and consumer exposure, product labeling, and emissions from engines and other sources designed to operate on this fuel. The entire gasoline lifecycle-from manufacture, through distribution, to end-use-is subject to detailed, complex, and overlapping regulatory schemes intended to protect human health, welfare, and the environment. In addition to these legal requirements, industry has implemented a broad array of voluntary standards and best management practices to ensure that risks from gasoline manufacturing, distribution, and use are minimized. Copyright © 2014 The Authors. Published by Elsevier Inc. All rights reserved.

Development of computerized risk management tool

International Nuclear Information System (INIS)

Kil Yoo Kim; Mee Jung Hwang; Seung Cheol Jang; Sang Hoon Han; Tae Woon Kim

1997-01-01

The author describes the kinds of efforts for the development of computerized risk management tool; (1) development of a risk monitor, Risk Monster, (2) improvement of McFarm (Missing Cutsets Finding Algorithm for Risk Monitor) and finally (3) development of reliability database management system, KwDBMan. Risk Monster supports for plant operators and maintenance schedulers to monitor plant risk and to avoid high peak risk by rearranging maintenance work schedule. Improved McFarm significantly improved calculation speed of Risk Monster for the cases of supporting system OOS (Out Of Service). KwDBMan manages event data, generic data and CCF (Common Cause Failure) data to support Risk Monster as well as PSA tool, KIRAP (KAERI Integrated Reliability Analysis Package)

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...

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 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...

Managing risks and hazardous in industrial operations

Energy Technology Data Exchange (ETDEWEB)

Almaula, S.C. [Woodward-Clyde International, Oakland, CA (United States)

1996-12-31

The main objective of this paper is to demonstrate that it makes good business sense to identify risks and hazards of an operation and take appropriate steps to manage them effectively. Developing and implementing an effective risk and hazard management plan also contibutes to other industry requirements and standards. Development of a risk management system, key elements of a risk management plan, and hazards and risk analysis methods are outlined. Comparing potential risk to the cost of prevention is also discussed. It is estimated that the cost of developing and preparing the first risk management plan varies between $50,000 to $200,000. 3 refs., 2 figs., 1 tab.

Trends in flood risk management in deltas around the world: Are we going ‘soft’?

NARCIS (Netherlands)

Wesselink, A.; Warner, J.F.; Syed, M.A.; Chan, F.; Tran, D.D.; Huq, H.; Huthoff, F.; Thuy, Le N.; Pinter, N.; Staveren, van M.F.; Wester, P.; Zegwaard, A.

2015-01-01

Flood-risk management (FRM) is shaped by context: a society’s cultural background; physical possibilities and constraints; and the historical development of that society’s economy, politi- cal system, education, etc. These provide different drivers for change, in interaction with more global

Global asessment of manure management policies and practices

NARCIS (Netherlands)

Teenstra, E.D.; Vellinga, Th.V.; Aktasaeng, N.; Amatayaku, W.; Ndambi, A.; Pelster, D.; Germer, L.; Jenet, A.; Opio, C.; Andeweg, K.

2014-01-01

The Livestock and Manure Management Component (LMMC) of the CCAC Agriculture Initiative supports integrated manure management practices by increasing knowledge and awareness, removing barriers to action and enhancing practice change. This Global Assessment report provides an overview of manure

Global Production Planning Process considering the Supply Risk of Overseas Manufacturing Sites

Directory of Open Access Journals (Sweden)

Hosang Jung

2015-01-01

Full Text Available Although global manufacturers can produce most of their final products in local plants, they need to source components or parts from desirable overseas manufacturing partners at low cost in order to fulfill customer orders. In this global manufacturing environment, capacity information for planning is usually imprecise owing to the various risks of overseas plants (e.g., foreign governments’ policies and labor stability. It is therefore not easy for decision-makers to generate a global production plan showing the production amounts at local plants and overseas manufacturing facilities operated by manufacturing partners. In this paper, we present a new global production planning process considering the supply risk of overseas manufacturing sites. First, local experts estimate the supply capacity of an overseas plant using their judgment to determine when the risk could occur and how large the risk impact would be. Next, we run a global production planning model with the estimated supply capacities. The proposed process systematically adopts the qualitative judgments of local experts in the global production planning process and thus can provide companies with a realistic global production plan. We demonstrate the applicability of the proposed process with a real world case.

Business resilience: Reframing healthcare risk management.

Science.gov (United States)

Simeone, Cynthia L

2015-09-01

The responsibility of risk management in healthcare is fractured, with multiple stakeholders. Most hospitals and healthcare systems do not have a fully integrated risk management system that spans the entire organizational and operational structure for the delivery of key services. This article provides insight toward utilizing a comprehensive Business Resilience program and associated methodology to understand and manage organizational risk leading to organizational effectiveness and operational efficiencies, with the fringe benefit of realizing sustainable operational capability during adverse conditions. © 2015 American Society for Healthcare Risk Management of the American Hospital Association.

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...

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...