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Sample records for hydraulic risk management

  1. Outage Risk Assessment and Management (ORAM) thermal-hydraulics toolkit

    International Nuclear Information System (INIS)

    Denny, V.E.; Wassel, A.T.; Issacci, F.; Pal Kalra, S.

    2004-01-01

    A PC-based thermal-hydraulic toolkit for use in support of outage optimization, management and risk assessment has been developed. This mechanistic toolkit incorporates simple models of key thermal-hydraulic processes which occur during an outage, such as recovery from or mitigation of outage upsets; this includes heat-up of water pools following loss of shutdown cooling, inadvertent drain down of the RCS, boiloff of coolant inventory, heatup of the uncovered core, and reflux cooling. This paper provides a list of key toolkit elements, briefly describes the technical basis and presents illustrative results for RCS transient behavior during reflux cooling, peak clad temperatures for an uncovered core and RCS response to loss of shutdown cooling. (author)

  2. Natural hazard management high education: laboratory of hydrologic and hydraulic risk management and applied geomorphology

    Science.gov (United States)

    Giosa, L.; Margiotta, M. R.; Sdao, F.; Sole, A.; Albano, R.; Cappa, G.; Giammatteo, C.; Pagliuca, R.; Piccolo, G.; Statuto, D.

    2009-04-01

    The Environmental Engineering Faculty of University of Basilicata have higher-level course for students in the field of natural hazard. The curriculum provides expertise in the field of prediction, prevention and management of earthquake risk, hydrologic-hydraulic risk, and geomorphological risk. These skills will contribute to the training of specialists, as well as having a thorough knowledge of the genesis and the phenomenology of natural risks, know how to interpret, evaluate and monitor the dynamic of environment and of territory. In addition to basic training in the fields of mathematics and physics, the course of study provides specific lessons relating to seismic and structural dynamics of land, environmental and computational hydraulics, hydrology and applied hydrogeology. In particular in this course there are organized two connected examination arguments: Laboratory of hydrologic and hydraulic risk management and Applied geomorphology. These course foresee the development and resolution of natural hazard problems through the study of a real natural disaster. In the last year, the work project has regarded the collapse of two decantation basins of fluorspar, extracted from some mines in Stava Valley, 19 July 1985, northern Italy. During the development of the course, data and event information has been collected, a guided tour to the places of the disaster has been organized, and finally the application of mathematical models to simulate the disaster and analysis of the results has been carried out. The student work has been presented in a public workshop.

  3. Toward a Stakeholder Perspective on Social Stability Risk of Large Hydraulic Engineering Projects in China: A Social Network Analysis

    Directory of Open Access Journals (Sweden)

    Zhengqi He

    2018-04-01

    Full Text Available In China, large hydraulic engineering projects have made a great contribution to social economic development; at the same time, they also lead to social risks that affect social stability. The pluralism of stakeholders in large hydraulic engineering projects and the complex interrelationship among stakeholders are the important factors affecting social stability risk. Previous studies of social stability risk have mainly focused on risk identification and risk assessment, without considering the relationships among stakeholders and their linkages of risks. For large hydraulic engineering projects, this paper investigated the relevant risk factors and their interrelationships through a literature review and interviews that represented stakeholder perspectives. The key social stability risk factors were identified based on social network analysis. A multi-channel project financial system, a perfect interest compensation mechanism, an efficient prevention mechanism of group events, and a complete project schedule control system were proposed to mitigate the social stability risks. This study combined stakeholder management with risk management by using social network analysis, providing reference for the social stability risk management of large engineering projects in China.

  4. A review on risk assessment techniques for hydraulic fracturing water and produced water management implemented in onshore unconventional oil and gas production.

    Science.gov (United States)

    Torres, Luisa; Yadav, Om Prakash; Khan, Eakalak

    2016-01-01

    The objective of this paper is to review different risk assessment techniques applicable to onshore unconventional oil and gas production to determine the risks to water quantity and quality associated with hydraulic fracturing and produced water management. Water resources could be at risk without proper management of water, chemicals, and produced water. Previous risk assessments in the oil and gas industry were performed from an engineering perspective leaving aside important social factors. Different risk assessment methods and techniques are reviewed and summarized to select the most appropriate one to perform a holistic and integrated analysis of risks at every stage of the water life cycle. Constraints to performing risk assessment are identified including gaps in databases, which require more advanced techniques such as modeling. Discussions on each risk associated with water and produced water management, mitigation strategies, and future research direction are presented. Further research on risks in onshore unconventional oil and gas will benefit not only the U.S. but also other countries with shale oil and gas resources. Copyright © 2015 Elsevier B.V. All rights reserved.

  5. Thermal hydraulic model validation for HOR mixed core fuel management

    International Nuclear Information System (INIS)

    Gibcus, H.P.M.; Vries, J.W. de; Leege, P.F.A. de

    1997-01-01

    A thermal-hydraulic core management model has been developed for the Hoger Onderwijsreactor (HOR), a 2 MW pool-type university research reactor. The model was adopted for safety analysis purposes in the framework of HEU/LEU core conversion studies. It is applied in the thermal-hydraulic computer code SHORT (Steady-state HOR Thermal-hydraulics) which is presently in use in designing core configurations and for in-core fuel management. An elaborate measurement program was performed for establishing the core hydraulic characteristics for a variety of conditions. The hydraulic data were obtained with a dummy fuel element with special equipment allowing a.o. direct measurement of the true core flow rate. Using these data the thermal-hydraulic model was validated experimentally. The model, experimental tests, and model validation are discussed. (author)

  6. Developing a national programme of flood risk management measures: Moldova

    Directory of Open Access Journals (Sweden)

    Ramsbottom David

    2016-01-01

    Full Text Available A Technical Assistance project funded by the European Investment Bank has been undertaken to develop a programme of flood risk management measures for Moldova that will address the main shortcomings in the present flood management system, and provide the basis for long-term improvement. Areas of significant flood risk were identified using national hydraulic and flood risk modelling, and flood hazard and flood risk maps were then prepared for these high risk areas. The flood risk was calculated using 12 indicators representing social, economic and environmental impacts of flooding. Indicator values were combined to provide overall estimates of flood risk. Strategic approaches to flood risk management were identified for each river basin using a multi-criteria analysis. Measures were then identified to achieve the strategic approaches. A programme of measures covering a 20-year period was developed together with a more detailed Short-Term Investment Plan covering the first seven years of the programme. Arrangements are now being made to implement the programme. The technical achievements of the project included national hydrological and hydraulic modelling covering 12,000 km of river, the development of 2-dimensional channel and floodplain hydraulic models from a range of topographic and bathymetric data, and an integrated flood risk assessment that takes account of both economic and non-monetary impacts.

  7. Hydraulic risk assessment of bridges using UAV photogrammetry

    Science.gov (United States)

    Hackl, Jürgen; Adey, Bryan T.; Woźniak, Michał; Schümperlin, Oliver

    2017-04-01

    investigated includes: the use of geo-referenced images, taken by an UAV, the exportation of these images into a photogrammetric software, the creation of a 3D mesh of the terrain from these images, the conversion of the 3D mesh to a computational mesh, the use of the computational mesh to build a hydrodynamic model, and the use of the hydrodynamic model to run flow simulations. The process was used to estimate the complex water flow near a single span concrete bridge in the Canton of Grisons, Switzerland. The hydraulic events (abutment scour and overflow) predicted by the developed model were compared with with historical observations from a recent flood event in the region. The hydraulic events predicted by the developed model correspond with historical observations, indicating that the topological information collected in this way is sufficiently accurate to be used to simulate complex flow situations, which can be used in bridge risk assessments. Hackl, J., Adey, B.T., Heitzler, M., and Iosifescu Enescu, I. (2015). "An Overarching Risk Assessment Process to Evaluate the Risks Associated with Infrastructure Networks due to Natural Hazards." International Journal of Performability Engineering, 11(2), 153-168. Adey, B.T., Hackl, J., Lam, J.C., van Gelder, P., Prak, P., van Erp, N., Heitzler, M., Iosifescu Enescu, I., and Hurni, L. (2016). "Ensuring acceptable levels of infrastructure related risks due to natural hazards with emphasis on conducting stress tests." 1st International Symposium on Infrastructure Asset Management (SIAM2016), K. Kobayashi, ed., Kyoto, Japan, 19-29 (Jan).

  8. River channel morphology and hydraulics properties due to introduction of plant basket hydraulic structures for river channel management

    Science.gov (United States)

    Kałuża, Tomasz; Radecki-Pawlik, Artur; Plesiński, Karol; Walczak, Natalia; Szoszkiewicz, Krzysztof; Radecki-Pawlik, Bartosz

    2016-04-01

    In the present time integrated water management is directly connected with management and direct works in river channels themselves which are taking into account morphological processes in rivers and improve flow conditions. Our work focused on the hydraulic and hydrodynamic consequences upon the introduction of the concept of the improvement of the hydromorphological conditions of the Flinta River in a given reach following river channel management concept. Based on a comprehensive study of the hydromorphological state of the river, four sections were selected where restoration measures can efficiently improve river habitat conditions in the river. For each section a set of technical and biological measures were proposed and implemented in practice. One of the proposed solutions was to construct plant basket hydraulic structures (PBHS) within the river channel, which are essentially plant barriers working as sediment traps, changing river channel morphology and are in line with concepts of Water Framework Directive. These relatively small structures work as crested weirs and unquestionably change the channel morphology. Along our work we show the results of three-year long (2013-2015) systematic measurements that provided information on the morphological consequences of introducing such structures into a river channel. Our main conclusions are as follows: 1. Plant basket hydraulic structures cause changes in hydrodynamic conditions and result in sediment accumulation and the formation of river backwaters upstream and downstream the obstacle; 2. The introduced plant basket hydraulic structures cause plant debris accumulation which influences the hydrodynamic flow conditions; 3. The installation of plant basket hydraulic structures on the river bed changes flow pattern as well as flow hydrodynamic conditions causing river braiding process; 4. The erosion rate below the plant basket hydraulic structures is due to the hydraulic work conditions of the PBHS and its

  9. Power management in hydraulically actuated mobile equipment

    DEFF Research Database (Denmark)

    Pedersen, Henrik Clemmensen; Andersen, Torben Ole; Hansen, Michael Rygaard

    2008-01-01

    The focus of the current paper is on the control of hydraulic systems when utilizing the advances that electronic control may bring with regard to power management, prioritized flow sharing and anti-stall, arising from being able to control both pump, valves and engine electronically. A simple mo...

  10. Process management using component thermal-hydraulic function classes

    Science.gov (United States)

    Morman, J.A.; Wei, T.Y.C.; Reifman, J.

    1999-07-27

    A process management expert system where following malfunctioning of a component, such as a pump, for determining system realignment procedures such as for by-passing the malfunctioning component with on-line speeds to maintain operation of the process at full or partial capacity or to provide safe shut down of the system while isolating the malfunctioning component. The expert system uses thermal-hydraulic function classes at the component level for analyzing unanticipated as well as anticipated component malfunctions to provide recommended sequences of operator actions. Each component is classified according to its thermal-hydraulic function, and the generic and component-specific characteristics for that function. Using the diagnosis of the malfunctioning component and its thermal hydraulic class, the expert system analysis is carried out using generic thermal-hydraulic first principles. One aspect of the invention employs a qualitative physics-based forward search directed primarily downstream from the malfunctioning component in combination with a subsequent backward search directed primarily upstream from the serviced component. Generic classes of components are defined in the knowledge base according to the three thermal-hydraulic functions of mass, momentum and energy transfer and are used to determine possible realignment of component configurations in response to thermal-hydraulic function imbalance caused by the malfunctioning component. Each realignment to a new configuration produces the accompanying sequence of recommended operator actions. All possible new configurations are examined and a prioritized list of acceptable solutions is produced. 5 figs.

  11. Process management using component thermal-hydraulic function classes

    Science.gov (United States)

    Morman, James A.; Wei, Thomas Y. C.; Reifman, Jaques

    1999-01-01

    A process management expert system where following malfunctioning of a component, such as a pump, for determining system realignment procedures such as for by-passing the malfunctioning component with on-line speeds to maintain operation of the process at full or partial capacity or to provide safe shut down of the system while isolating the malfunctioning component. The expert system uses thermal-hydraulic function classes at the component level for analyzing unanticipated as well as anticipated component malfunctions to provide recommended sequences of operator actions. Each component is classified according to its thermal-hydraulic function, and the generic and component-specific characteristics for that function. Using the diagnosis of the malfunctioning component and its thermal hydraulic class, the expert system analysis is carried out using generic thermal-hydraulic first principles. One aspect of the invention employs a qualitative physics-based forward search directed primarily downstream from the malfunctioning component in combination with a subsequent backward search directed primarily upstream from the serviced component. Generic classes of components are defined in the knowledge base according to the three thermal-hydraulic functions of mass, momentum and energy transfer and are used to determine possible realignment of component configurations in response to thermal-hydraulic function imbalance caused by the malfunctioning component. Each realignment to a new configuration produces the accompanying sequence of recommended operator actions. All possible new configurations are examined and a prioritized list of acceptable solutions is produced.

  12. Environmental and management influences on temporal variability of near saturated soil hydraulic properties☆

    Science.gov (United States)

    Bodner, G.; Scholl, P.; Loiskandl, W.; Kaul, H.-P.

    2013-01-01

    Structural porosity is a decisive property for soil productivity and soil environmental functions. Hydraulic properties in the structural range vary over time in response to management and environmental influences. Although this is widely recognized, there are few field studies that determine dominant driving forces underlying hydraulic property dynamics. During a three year field experiment we measured temporal variability of soil hydraulic properties by tension infiltrometry. Soil properties were characterized by hydraulic conductivity, effective macroporosity and Kosugi's lognormal pore size distribution model. Management related influences comprised three soil cover treatment (mustard and rye vs. fallow) and an initial mechanical soil disturbance with a rotary harrow. Environmental driving forces were derived from meteorological and soil moisture data. Soil hydraulic parameters varied over time by around one order of magnitude. The coefficient of variation of soil hydraulic conductivity K(h) decreased from 69.5% at saturation to 42.1% in the more unsaturated range (− 10 cm pressure head). A slight increase in the Kosugi parameter showing pore heterogeneity was observed under the rye cover crop, reflecting an enhanced structural porosity. The other hydraulic parameters were not significantly influenced by the soil cover treatments. Seedbed preparation with a rotary harrow resulted in a fourfold increase in macroporosity and hydraulic conductivity next to saturation, and homogenized the pore radius distribution. Re-consolidation after mechanical loosening lasted over 18 months until the soil returned to its initial state. The post-tillage trend of soil settlement could be approximated by an exponential decay function. Among environmental factors, wetting-drying cycles were identified as dominant driving force explaining short term hydraulic property changes within the season (r2 = 0.43 to 0.59). Our results suggested that beside considering average

  13. Environmental and management influences on temporal variability of near saturated soil hydraulic properties.

    Science.gov (United States)

    Bodner, G; Scholl, P; Loiskandl, W; Kaul, H-P

    2013-08-01

    Structural porosity is a decisive property for soil productivity and soil environmental functions. Hydraulic properties in the structural range vary over time in response to management and environmental influences. Although this is widely recognized, there are few field studies that determine dominant driving forces underlying hydraulic property dynamics. During a three year field experiment we measured temporal variability of soil hydraulic properties by tension infiltrometry. Soil properties were characterized by hydraulic conductivity, effective macroporosity and Kosugi's lognormal pore size distribution model. Management related influences comprised three soil cover treatment (mustard and rye vs. fallow) and an initial mechanical soil disturbance with a rotary harrow. Environmental driving forces were derived from meteorological and soil moisture data. Soil hydraulic parameters varied over time by around one order of magnitude. The coefficient of variation of soil hydraulic conductivity K(h) decreased from 69.5% at saturation to 42.1% in the more unsaturated range (- 10 cm pressure head). A slight increase in the Kosugi parameter showing pore heterogeneity was observed under the rye cover crop, reflecting an enhanced structural porosity. The other hydraulic parameters were not significantly influenced by the soil cover treatments. Seedbed preparation with a rotary harrow resulted in a fourfold increase in macroporosity and hydraulic conductivity next to saturation, and homogenized the pore radius distribution. Re-consolidation after mechanical loosening lasted over 18 months until the soil returned to its initial state. The post-tillage trend of soil settlement could be approximated by an exponential decay function. Among environmental factors, wetting-drying cycles were identified as dominant driving force explaining short term hydraulic property changes within the season (r 2  = 0.43 to 0.59). Our results suggested that beside considering average

  14. Hydraulic structures

    CERN Document Server

    Chen, Sheng-Hong

    2015-01-01

    This book discusses in detail the planning, design, construction and management of hydraulic structures, covering dams, spillways, tunnels, cut slopes, sluices, water intake and measuring works, ship locks and lifts, as well as fish ways. Particular attention is paid to considerations concerning the environment, hydrology, geology and materials etc. in the planning and design of hydraulic projects. It also considers the type selection, profile configuration, stress/stability calibration and engineering countermeasures, flood releasing arrangements and scouring protection, operation and maintenance etc. for a variety of specific hydraulic structures. The book is primarily intended for engineers, undergraduate and graduate students in the field of civil and hydraulic engineering who are faced with the challenges of extending our understanding of hydraulic structures ranging from traditional to groundbreaking, as well as designing, constructing and managing safe, durable hydraulic structures that are economical ...

  15. The Water Risks of Hydraulic Fracturing (Fracking): Key Issues from the New California Assessment

    Science.gov (United States)

    Gleick, P. H.

    2015-12-01

    A key component of the Water-Energy Nexus is the effort over the past decade or so to quantify the volumes and form of water required for the energy fuel cycle from extraction to generation to waste disposal. The vast majority of the effort in this area has focused on the water needs of electricity generation, but other fuel-cycle components also entail significant water demands and threats to water quality. Recent work for the State of California (managed by the California Council on Science and Technology - CCST) has produced a new state-of-the-art assessment of a range of potential water risks associated with hydraulic fracturing and related oil and gas extraction, including volumetric water demands, methods of disposal of produced water, and aquifer contamination. For example, this assessment produced new information on the disposal of produced water in surface percolation pits and the potential for contamination of local groundwater (see Figure). Understanding these risks raises questions about current production and future plans to expand production, as well as tools used by state and federal agencies to manage these risks. This talk will summarize the science behind the CCST assessment and related policy recommendations for both water and energy managers.

  16. An application of a hydraulic model simulator in flood risk assessment under changing climatic conditions

    Science.gov (United States)

    Doroszkiewicz, J. M.; Romanowicz, R. J.

    2016-12-01

    The standard procedure of climate change impact assessment on future hydrological extremes consists of a chain of consecutive actions, starting from the choice of GCM driven by an assumed CO2 scenario, through downscaling of climatic forcing to a catchment scale, estimation of hydrological extreme indices using hydrological modelling tools and subsequent derivation of flood risk maps with the help of a hydraulic model. Among many possible sources of uncertainty, the main are the uncertainties related to future climate scenarios, climate models, downscaling techniques and hydrological and hydraulic models. Unfortunately, we cannot directly assess the impact of these different sources of uncertainties on flood risk in future due to lack of observations of future climate realizations. The aim of this study is an assessment of a relative impact of different sources of uncertainty on the uncertainty of flood risk maps. Due to the complexity of the processes involved, an assessment of total uncertainty of maps of inundation probability might be very computer time consuming. As a way forward we present an application of a hydraulic model simulator based on a nonlinear transfer function model for the chosen locations along the river reach. The transfer function model parameters are estimated based on the simulations of the hydraulic model at each of the model cross-sections. The study shows that the application of a simulator substantially reduces the computer requirements related to the derivation of flood risk maps under future climatic conditions. Biala Tarnowska catchment, situated in southern Poland is used as a case study. Future discharges at the input to a hydraulic model are obtained using the HBV model and climate projections obtained from the EUROCORDEX project. The study describes a cascade of uncertainty related to different stages of the process of derivation of flood risk maps under changing climate conditions. In this context it takes into account the

  17. Environmental and management impacts on temporal variability of soil hydraulic properties

    Science.gov (United States)

    Bodner, G.; Scholl, P.; Loiskandl, W.; Kaul, H.-P.

    2012-04-01

    Soil hydraulic properties underlie temporal changes caused by different natural and management factors. Rainfall intensity, wet-dry cycles, freeze-thaw cycles, tillage and plant effects are potential drivers of the temporal variability. For agricultural purposes it is important to determine the possibility of targeted influence via management. In no-till systems e.g. root induced soil loosening (biopores) is essential to counteract natural soil densification by settling. The present work studies two years of temporal evolution of soil hydraulic properties in a no-till crop rotation (durum wheat-field pea) with two cover crops (mustard and rye) having different root systems (taproot vs. fibrous roots) as well as a bare soil control. Soil hydraulic properties such as near-saturated hydraulic conductivity, flow weighted pore radius, pore number and macroporosity are derived from measurements using a tension infiltrometer. The temporal dynamics are then analysed in terms of potential driving forces. Our results revealed significant temporal changes of hydraulic conductivity. When approaching saturation, spatial variability tended to dominate over the temporal evolution. Changes in near-saturated hydraulic conductivity were mainly a result of changing pore number, while the flow weighted mean pore radius showed less temporal dynamic in the no-till system. Macroporosity in the measured range of 0 to -10 cm pressure head ranged from 1.99e-4 to 8.96e-6 m3m-3. The different plant coverage revealed only minor influences on the observed system dynamics. Mustard increased slightly the flow weighted mean pore radius, being 0.090 mm in mustard compared to 0.085 mm in bare soil and 0.084 mm in rye. Still pore radius changes were of minor importance for the overall temporal dynamics. Rainfall was detected as major driving force of the temporal evolution of structural soil hydraulic properties at the site. Soil hydraulic conductivity in the slightly unsaturated range (-7 cm to -10

  18. Floods and climate: emerging perspectives for flood risk assessment and management

    DEFF Research Database (Denmark)

    Merz, B.; Aerts, J.; Arnbjerg-Nielsen, Karsten

    2014-01-01

    context of floods. We come to the following conclusions: (1) extending the traditional system boundaries (local catchment, recent decades, hydrological/hydraulic processes) opens up exciting possibilities for better understanding and improved tools for flood risk assessment and management. (2) Statistical......, and this variation may be partially quantifiable and predictable, with the perspective of dynamic, climate-informed flood risk management. (4) Efforts are needed to fully account for factors that contribute to changes in all three risk components (hazard, exposure, vulnerability) and to better understand......Flood estimation and flood management have traditionally been the domain of hydrologists, water resources engineers and statisticians, and disciplinary approaches abound. Dominant views have been shaped; one example is the catchment perspective: floods are formed and influenced by the interaction...

  19. Drought-induced xylem cavitation and hydraulic deterioration: risk factors for urban trees under climate change?

    Science.gov (United States)

    Savi, Tadeja; Bertuzzi, Stefano; Branca, Salvatore; Tretiach, Mauro; Nardini, Andrea

    2015-02-01

    Urban trees help towns to cope with climate warming by cooling both air and surfaces. The challenges imposed by the urban environment, with special reference to low water availability due to the presence of extensive pavements, result in high rates of mortality of street trees, that can be increased by climatic extremes. We investigated the water relations and xylem hydraulic safety/efficiency of Quercus ilex trees growing at urban sites with different percentages of surrounding impervious pavements. Seasonal changes of plant water potential and gas exchange, vulnerability to cavitation and embolism level, and morpho-anatomical traits were measured. We found patterns of increasing water stress and vulnerability to drought at increasing percentages of impervious pavement cover, with a consequent reduction in gas exchange rates, decreased safety margins toward embolism development, and increased vulnerability to cavitation, suggesting the occurrence of stress-induced hydraulic deterioration. The amount of impermeable surface and chronic exposure to water stress influence the site-specific risk of drought-induced dieback of urban trees under extreme drought. Besides providing directions for management of green spaces in towns, our data suggest that xylem hydraulics is key to a full understanding of the responses of urban trees to global change. © 2014 The Authors. New Phytologist © 2014 New Phytologist Trust.

  20. Combined Hydrologic (AGWA-KINEROS2) and Hydraulic (HEC2) Modeling for Post-Fire Runoff and Inundation Risk Assessment through a Set of Python Tools

    Science.gov (United States)

    Barlow, J. E.; Goodrich, D. C.; Guertin, D. P.; Burns, I. S.

    2016-12-01

    Wildfires in the Western United States can alter landscapes by removing vegetation and changing soil properties. These altered landscapes produce more runoff than pre-fire landscapes which can lead to post-fire flooding that can damage infrastructure and impair natural resources. Resources, structures, historical artifacts and others that could be impacted by increased runoff are considered values at risk. .The Automated Geospatial Watershed Assessment tool (AGWA) allows users to quickly set up and execute the Kinematic Runoff and Erosion model (KINEROS2 or K2) in the ESRI ArcMap environment. The AGWA-K2 workflow leverages the visualization capabilities of GIS to facilitate evaluation of rapid watershed assessments for post-fire planning efforts. High relative change in peak discharge, as simulated by K2, provides a visual and numeric indicator to investigate those channels in the watershed that should be evaluated for more detailed analysis, especially if values at risk are within or near that channel. Modeling inundation extent along a channel would provide more specific guidance about risk along a channel. HEC-2 and HEC-RAS can be used for hydraulic modeling efforts at the reach and river system scale. These models have been used to address flood boundaries and, accordingly, flood risk. However, data collection and organization for hydraulic models can be time consuming and therefore a combined hydrologic-hydraulic modeling approach is not often employed for rapid assessments. A simplified approach could streamline this process and provide managers with a simple workflow and tool to perform a quick risk assessment for a single reach. By focusing on a single reach highlighted by large relative change in peak discharge, data collection efforts can be minimized and the hydraulic computations can be performed to supplement risk analysis. The incorporation of hydraulic analysis through a suite of Python tools (as outlined by HEC-2) with AGWA-K2 will allow more rapid

  1. Proceedings of the fourth international topical meeting on nuclear thermal hydraulics, operations and safety. Vol. 1

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2004-07-01

    More than 100 papers were presented. The meeting was divided in 56 sessions and covered the following topics: Plant Operation, Retrofitting and Maintenance Experience; Steam Generator Operation and Maintenance; Artificial Intelligence and Expert Systems; Seismic Technologies for Plant Design and Operations; Aging Management and Life Extension; Two-Phase Flow Modeling and Applications; Severe Accidents and Degraded Core Thermal Hydraulics; Plant Simulators, Analyzers, and Workstations; Advanced Nuclear Fuel Challenges; Recent Nuclear Power Station Decommissioning Experiences in the USA; Application of Probabilistic risk assessment/Probabilistic safety assessment (PRA/PSA) in Design and Modification; Numerical Modeling in Thermal Hydraulics; General Thermal Hydraulics; Severe Accident Management; Licensing and Regulatory Requirements; Advanced Light Water Reactor Designs to Support Reduced Emergency Planning; Best Estimate loss-of-coolant (LOCA) Methodologies; Plant Instrumentation and Control; LWR Fuel Designs for Improved Thermal Hydraulic Performance; Performance Assessment of Radioactive Waste Disposal; Thermal Hydraulics in Passive Reactor Systems; Advances in Man-Machine Interface Design and the Related Human Factors Engineering; Advances in Measurements and Instrumentation; Computer Aided Technology for non-destructive evaluation (NDE) and Plant Maintenance Plant Uprating; Flow-Accelerated Corrosion in Nuclear Power Plants; Advances in Radiological Measurement and Analysis Risk Management and Assessment; Stability in Thermal Hydraulic Systems; Critical heat flux (CHF) and Post Dryout Heat Transfer; Plant Transient and Accident Modeling.

  2. Proceedings of the fourth international topical meeting on nuclear thermal hydraulics, operations and safety. Vol. 1

    International Nuclear Information System (INIS)

    2004-01-01

    More than 100 papers were presented. The meeting was divided in 56 sessions and covered the following topics: Plant Operation, Retrofitting and Maintenance Experience; Steam Generator Operation and Maintenance; Artificial Intelligence and Expert Systems; Seismic Technologies for Plant Design and Operations; Aging Management and Life Extension; Two-Phase Flow Modeling and Applications; Severe Accidents and Degraded Core Thermal Hydraulics; Plant Simulators, Analyzers, and Workstations; Advanced Nuclear Fuel Challenges; Recent Nuclear Power Station Decommissioning Experiences in the USA; Application of Probabilistic risk assessment/Probabilistic safety assessment (PRA/PSA) in Design and Modification; Numerical Modeling in Thermal Hydraulics; General Thermal Hydraulics; Severe Accident Management; Licensing and Regulatory Requirements; Advanced Light Water Reactor Designs to Support Reduced Emergency Planning; Best Estimate loss-of-coolant (LOCA) Methodologies; Plant Instrumentation and Control; LWR Fuel Designs for Improved Thermal Hydraulic Performance; Performance Assessment of Radioactive Waste Disposal; Thermal Hydraulics in Passive Reactor Systems; Advances in Man-Machine Interface Design and the Related Human Factors Engineering; Advances in Measurements and Instrumentation; Computer Aided Technology for non-destructive evaluation (NDE) and Plant Maintenance Plant Uprating; Flow-Accelerated Corrosion in Nuclear Power Plants; Advances in Radiological Measurement and Analysis Risk Management and Assessment; Stability in Thermal Hydraulic Systems; Critical heat flux (CHF) and Post Dryout Heat Transfer; Plant Transient and Accident Modeling

  3. Proceedings of the fourth international topical meeting on nuclear thermal hydraulics, operations and safety. Vol. 2

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2004-07-01

    More than 100 papers presented at the meeting were divided in 56 sessions and covered the following topics: Plant Operation, Retrofitting and Maintenance Experience; Steam Generator Operation and Maintenance; Artificial Intelligence and Expert Systems; Seismic Technologies for Plant Design and Operations; Aging Management and Life Extension; Two-Phase Flow Modeling and Applications; Severe Accidents and Degraded Core Thermal Hydraulics; Plant Simulators, Analyzers, and Workstations; Advanced Nuclear Fuel Challenges; Recent Nuclear Power Station Decommissioning Experiences in the USA; Application of Probabilistic risk assessment/Probabilistic safety assessment (PRA/PSA) in Design and Modification; Numerical Modeling in Thermal Hydraulics; General Thermal Hydraulics; Severe Accident Management; Licensing and Regulatory Requirements; Advanced Light Water Reactor Designs to Support Reduced Emergency Planning; Best Estimate loss-of-coolant (LOCA) Methodologies; Plant Instrumentation and Control; LWR Fuel Designs for Improved Thermal Hydraulic Performance; Performance Assessment of Radioactive Waste Disposal; Thermal Hydraulics in Passive Reactor Systems; Advances in Man-Machine Interface Design and the Related Human Factors Engineering; Advances in Measurements and Instrumentation; Computer Aided Technology for non-destructive evaluation (NDE) and Plant Maintenance Plant Uprating; Flow-Accelerated Corrosion in Nuclear Power Plants; Advances in Radiological Measurement and Analysis Risk Management and Assessment; Stability in Thermal Hydraulic Systems; Critical heat flux (CHF) and Post Dryout Heat Transfer; Plant Transient and Accident Modeling.

  4. Proceedings of the fourth international topical meeting on nuclear thermal hydraulics, operations and safety. Vol. 2

    International Nuclear Information System (INIS)

    2004-01-01

    More than 100 papers presented at the meeting were divided in 56 sessions and covered the following topics: Plant Operation, Retrofitting and Maintenance Experience; Steam Generator Operation and Maintenance; Artificial Intelligence and Expert Systems; Seismic Technologies for Plant Design and Operations; Aging Management and Life Extension; Two-Phase Flow Modeling and Applications; Severe Accidents and Degraded Core Thermal Hydraulics; Plant Simulators, Analyzers, and Workstations; Advanced Nuclear Fuel Challenges; Recent Nuclear Power Station Decommissioning Experiences in the USA; Application of Probabilistic risk assessment/Probabilistic safety assessment (PRA/PSA) in Design and Modification; Numerical Modeling in Thermal Hydraulics; General Thermal Hydraulics; Severe Accident Management; Licensing and Regulatory Requirements; Advanced Light Water Reactor Designs to Support Reduced Emergency Planning; Best Estimate loss-of-coolant (LOCA) Methodologies; Plant Instrumentation and Control; LWR Fuel Designs for Improved Thermal Hydraulic Performance; Performance Assessment of Radioactive Waste Disposal; Thermal Hydraulics in Passive Reactor Systems; Advances in Man-Machine Interface Design and the Related Human Factors Engineering; Advances in Measurements and Instrumentation; Computer Aided Technology for non-destructive evaluation (NDE) and Plant Maintenance Plant Uprating; Flow-Accelerated Corrosion in Nuclear Power Plants; Advances in Radiological Measurement and Analysis Risk Management and Assessment; Stability in Thermal Hydraulic Systems; Critical heat flux (CHF) and Post Dryout Heat Transfer; Plant Transient and Accident Modeling

  5. Flood Risk Management in Remote and Impoverished Areas—A Case Study of Onaville, Haiti

    Directory of Open Access Journals (Sweden)

    Valentin Heimhuber

    2015-07-01

    Full Text Available In this study, geographic information system (GIS-based hydrologic and hydraulic modeling was used to perform a flood risk assessment for Onaville, which is a fairly new, rapidly growing informal settlement that is exposed to dangerous flash-flood events. Since records of historic floods did not exist for the study area, design storms with a variety of significant average return intervals (ARIs were derived from intensity-duration-frequency (IDF curves and transformed into design floods via rainfall-runoff modeling in hydrologic engineering center’s hydrologic modeling system (HEC-HMS. The hydraulic modeling software hydrologic engineering center’s river analysis system (HEC-RAS was used to perform one-dimensional, unsteady-flow simulations of the design floods in the Ravine Lan Couline, which is the major drainage channel of the area. Topographic data comprised a 12 m spatial resolution TanDEM-X digital elevation model (DEM and a 30 cm spatial resolution DEM created with mapping drones. The flow simulations revealed that large areas of the settlement are currently exposed to flood hazard. The results of the hydrologic and hydraulic modeling were incorporated into a flood hazard map which formed the basis for flood risk management. We present a grassroots approach for preventive flood risk management on a community level, which comprises the elaboration of a neighborhood contingency plan and a flood risk awareness campaign together with representatives of the local community of Onaville.

  6. Power Management in Mobile Hydraulic Applications - An Approach for Designing Hydraulic Power Supply Systems

    DEFF Research Database (Denmark)

    Pedersen, Henrik Clemmensen

    2004-01-01

    Throughout the last three decades energy consumption has become one of the primary design aspects in hydraulic systems, especially for mobile hydraulic systems, as power and cooling capacity here is at limited disposal. Considering the energy usage, this is dependent on component efficiency, but ...... the hydraulic power supply in the most energy efficient way, when considering a number of load situations. Finally an example of the approach is shown to prove its validity.}......Throughout the last three decades energy consumption has become one of the primary design aspects in hydraulic systems, especially for mobile hydraulic systems, as power and cooling capacity here is at limited disposal. Considering the energy usage, this is dependent on component efficiency...

  7. Probabilistic Risk Assessment of Hydraulic Fracturing in Unconventional Reservoirs by Means of Fault Tree Analysis: An Initial Discussion

    Science.gov (United States)

    Rodak, C. M.; McHugh, R.; Wei, X.

    2016-12-01

    The development and combination of horizontal drilling and hydraulic fracturing has unlocked unconventional hydrocarbon reserves around the globe. These advances have triggered a number of concerns regarding aquifer contamination and over-exploitation, leading to scientific studies investigating potential risks posed by directional hydraulic fracturing activities. These studies, balanced with potential economic benefits of energy production, are a crucial source of information for communities considering the development of unconventional reservoirs. However, probabilistic quantification of the overall risk posed by hydraulic fracturing at the system level are rare. Here we present the concept of fault tree analysis to determine the overall probability of groundwater contamination or over-exploitation, broadly referred to as the probability of failure. The potential utility of fault tree analysis for the quantification and communication of risks is approached with a general application. However, the fault tree design is robust and can handle various combinations of regional-specific data pertaining to relevant spatial scales, geological conditions, and industry practices where available. All available data are grouped into quantity and quality-based impacts and sub-divided based on the stage of the hydraulic fracturing process in which the data is relevant as described by the USEPA. Each stage is broken down into the unique basic events required for failure; for example, to quantify the risk of an on-site spill we must consider the likelihood, magnitude, composition, and subsurface transport of the spill. The structure of the fault tree described above can be used to render a highly complex system of variables into a straightforward equation for risk calculation based on Boolean logic. This project shows the utility of fault tree analysis for the visual communication of the potential risks of hydraulic fracturing activities on groundwater resources.

  8. Impact of land management on soil structure and soil hydraulic properties

    Czech Academy of Sciences Publication Activity Database

    Kodešová, R.; Jirků, V.; Nikodem, A.; Mühlhanselová, M.; Žigová, Anna

    2010-01-01

    Roč. 12, - (2010) ISSN 1029-7006. [European Geosciences Union General Assembly 2010. 02.05.2010-07.05.2010, Wienna] R&D Projects: GA ČR GA526/08/0434 Institutional research plan: CEZ:AV0Z30130516 Keywords : land management * soil structure * soil hydraulic properties * micromorphology Subject RIV: DF - Soil Science

  9. Simulation of the hydraulic performance of highway filter drains through laboratory models and stormwater management tools.

    Science.gov (United States)

    Sañudo-Fontaneda, Luis A; Jato-Espino, Daniel; Lashford, Craig; Coupe, Stephen J

    2017-05-23

    Road drainage is one of the most relevant assets in transport infrastructure due to its inherent influence on traffic management and road safety. Highway filter drains (HFDs), also known as "French Drains", are the main drainage system currently in use in the UK, throughout 7000 km of its strategic road network. Despite being a widespread technique across the whole country, little research has been completed on their design considerations and their subsequent impact on their hydraulic performance, representing a gap in the field. Laboratory experiments have been proven to be a reliable indicator for the simulation of the hydraulic performance of stormwater best management practices (BMPs). In addition to this, stormwater management tools (SMT) have been preferentially chosen as a design tool for BMPs by practitioners from all over the world. In this context, this research aims to investigate the hydraulic performance of HFDs by comparing the results from laboratory simulation and two widely used SMT such as the US EPA's stormwater management model (SWMM) and MicroDrainage®. Statistical analyses were applied to a series of rainfall scenarios simulated, showing a high level of accuracy between the results obtained in laboratory and using SMT as indicated by the high and low values of the Nash-Sutcliffe and R 2 coefficients and root-mean-square error (RMSE) reached, which validated the usefulness of SMT to determine the hydraulic performance of HFDs.

  10. Integrated assessment of space, time, and management-related variability of soil hydraulic properties

    Energy Technology Data Exchange (ETDEWEB)

    Es, H.M. van; Ogden, C.B.; Hill, R.L.; Schindelbeck, R.R.; Tsegaye, T.

    1999-12-01

    Computer-based models that simulate soil hydrologic processes and their impacts on crop growth and contaminant transport depend on accurate characterization of soil hydraulic properties. Soil hydraulic properties have numerous sources of variability related to spatial, temporal, and management-related processes. Soil type is considered to be the dominant source of variability, and parameterization is typically based on soil survey databases. This study evaluated the relative significance of other sources of variability: spatial and temporal at multiple scales, and management-related factors. Identical field experiments were conducted for 3 yr. at two sites in New York on clay loam and silt loam soils, and at two sites in Maryland on silt loam and sandy loam soils, all involving replicated plots with plow-till and no-till treatments. Infiltrability was determined from 2054 measurements using parameters, and Campbell's a and b parameters were determined based on water-retention data from 875 soil cores. Variance component analysis showed that differences among the sites were the most important source of variability for a (coefficient of variation, CV = 44%) and b (CV = 23%). Tillage practices were the most important source of variability for infiltrability (CV = 10%). For all properties, temporal variability was more significant than field-scale spatial variability. Temporal and tillage effects were more significant for the medium- and fine-textured soils, and correlated to initial soil water conditions. The parameterization of soil hydraulic properties solely based on soil type may not be appropriate for agricultural lands since soil-management factors are more significant. Sampling procedures should give adequate recognition to soil-management and temporal processes at significant sources of variability to avoid biased results.

  11. The risks of hydraulic fracturing and the responsibilities of engineers

    Directory of Open Access Journals (Sweden)

    Robert Kirkman

    2017-03-01

    Full Text Available One third of U.S. natural gas is extracted by injecting fluid at high pressure into shale formations, a process associated with a number of possible hazards and risks that have become the subject of intense public controversy. We develop a three-part schema to make sense of risks of hydraulic fracturing and the responsibilities of engineers: the lab, the field, and the forum. In the lab, researchers seek to answer basic questions about, for example, the behavior of shale under particular conditions; there uncertainty seems to arise at every turn. In the field, engineers and others work to implement technological processes, such as hydraulic fracturing and the subsequent extraction of oil and gas; hazards may arise as natural and social systems respond in sometimes surprising ways. In the forum, the public and their representatives deliberate about risk and acceptable risk, questions that are framed in ethical as well as technical terms. The difficulty of characterizing – and in living up to – the responsibilities of engineers lie in part in the apparent distance between the lab and the forum. We examine in turn uncertainties in the lab, hazards in the field, and deliberation in the forum, leading to the conclusion that scientists and engineers can and should help to inform public deliberation but that their research cannot, on its own, resolve all controversies. Scientists and engineers who seek to inform deliberation should be mindful of the scope and limits of their authority, clear and modest in communicating research findings to the public, and careful to avoid even apparent conflicts of interest wherever possible. We close by drawing from the lab-field-forum schema to suggest a direction for pedagogical innovations aimed at the formation of responsible engineers in the context of college-level degree programs.

  12. Fuel management service for Tarapur Atomic Power Station core thermal hydraulics

    International Nuclear Information System (INIS)

    Saha, D.; Venkat Raj, V.; Markandeya, S.G.

    1977-01-01

    Core thermal hydraulic analysis forms an integral part of the fuel management service for the Tarapur reactors. A distinguishing feature of boiling water reactors is the dependence of core flow distribution on the power distribution. Because of the changes in the axial and radial power distribution from cycle to cycle as well as during the cycle and also the variations in leakage flow, it is necessary to evaluate the core thermal hydraulic parameters for every cycle. Some of the typical results obtained in the course of analysis for different cycles of both the units at Tarapur are presented. The use of MCPR (Minimum Critical Power Ratio), instead of MCHFR (Minimum Critical Heat Flux Ratio) as a figure of merit for fuel cladding integrity is also discussed. (K.B.)

  13. 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.

  14. 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...

  15. 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.

  16. Hydraulics submission for Middlesex County, NJ

    Data.gov (United States)

    Federal Emergency Management Agency, Department of Homeland Security — Hydraulics data include spatial datasets and data tables necessary for documenting the hydraulic procedures for estimating base flood elevation for a flood insurance...

  17. Hydraulics submission for Gloucester County, NJ

    Data.gov (United States)

    Federal Emergency Management Agency, Department of Homeland Security — Hydraulics data include spatial datasets and data tables necessary for documenting the hydraulic procedures for estimating base flood elevation for a flood insurance...

  18. The Influence of Hydraulic Fracturing on Carbon Storage Performance

    Science.gov (United States)

    Fu, Pengcheng; Settgast, Randolph R.; Hao, Yue; Morris, Joseph P.; Ryerson, Frederick J.

    2017-12-01

    Conventional principles of the design and operation of geologic carbon storage (GCS) require injecting CO2 below the caprock fracturing pressure to ensure the integrity of the storage complex. In nonideal storage reservoirs with relatively low permeability, pressure buildup can lead to hydraulic fracturing of the reservoir and caprock. While the GCS community has generally viewed hydraulic fractures as a key risk to storage integrity, a carefully designed stimulation treatment under appropriate geologic conditions could provide improved injectivity while maintaining overall seal integrity. A vertically contained hydraulic fracture, either in the reservoir rock or extending a limited height into the caprock, provides an effective means to access reservoir volume far from the injection well. Employing a fully coupled numerical model of hydraulic fracturing, solid deformation, and matrix fluid flow, we study the enabling conditions, processes, and mechanisms of hydraulic fracturing during CO2 injection. A hydraulic fracture's pressure-limiting behavior dictates that the near-well fluid pressure is only slightly higher than the fracturing pressure of the rock and is insensitive to injection rate and mechanical properties of the formation. Although a fracture contained solely within the reservoir rock with no caprock penetration, would be an ideal scenario, poroelastic principles dictate that sustaining such a fracture could lead to continuously increasing pressure until the caprock fractures. We also investigate the propagation pattern and injection pressure responses of a hydraulic fracture propagating in a caprock subjected to heterogeneous in situ stress. The results have important implications for the use of hydraulic fracturing as a tool for managing storage performance.

  19. 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 )}.

  20. Multi-hazard risk assessment applied to hydraulic fracturing operations

    Science.gov (United States)

    Garcia-Aristizabal, Alexander; Gasparini, Paolo; Russo, Raffaella; Capuano, Paolo

    2017-04-01

    Without exception, the exploitation of any energy resource produces impacts and intrinsically bears risks. Therefore, to make sound decisions about future energy resource exploitation, it is important to clearly understand the potential environmental impacts in the full life-cycle of an energy development project, distinguishing between the specific impacts intrinsically related to exploiting a given energy resource and those shared with the exploitation of other energy resources. Technological advances as directional drilling and hydraulic fracturing have led to a rapid expansion of unconventional resources (UR) exploration and exploitation; as a consequence, both public health and environmental concerns have risen. The main objective of a multi-hazard risk assessment applied to the development of UR is to assess the rate (or the likelihood) of occurrence of incidents and the relative potential impacts on surrounding environment, considering different hazards and their interactions. Such analyses have to be performed considering the different stages of development of a project; however, the discussion in this paper is mainly focused on the analysis applied to the hydraulic fracturing stage of a UR development project. The multi-hazard risk assessment applied to the development of UR poses a number of challenges, making of this one a particularly complex problem. First, a number of external hazards might be considered as potential triggering mechanisms. Such hazards can be either of natural origin or anthropogenic events caused by the same industrial activities. Second, failures might propagate through the industrial elements, leading to complex scenarios according to the layout of the industrial site. Third, there is a number of potential risk receptors, ranging from environmental elements (as the air, soil, surface water, or groundwater) to local communities and ecosystems. The multi-hazard risk approach for this problem is set by considering multiple hazards

  1. Perceived risks of produced water management and naturally occurring radioactive material content in North Dakota.

    Science.gov (United States)

    Torres, Luisa; Yadav, Om Prakash; Khan, Eakalak

    2017-07-01

    Unconventional oil and gas development using hydraulic fracturing has caused conflict and controversy across the globe including the U.S. where some States banned the practice. Nevertheless, North Dakota (ND) has supported the practice because the State perceives the risks to be acceptable and because it has brought growth and opportunities to small communities. However, social acceptance of new technology is based on a number of factors and not contingent on economic benefits. To date, no research has been conducted to understand public risk perception of hazards associated with produced water from hydraulic fracturing in ND. This study focuses on understanding the risk perception of select ND stakeholder groups regarding produced water management and naturally occurring radioactive material. The software Qualtrics was used to create an online survey, collect data, and perform statistical analysis. The most important variables that seem to influence risk perception are the images and thoughts associated with produced water, level of knowledge about produced water handling and content, and knowing how to proceed in case of a spill of produced water. Overall, social risk perception could be in alignment with actual technical risk if availability of objective information is improved. Copyright © 2017 Elsevier Ltd. All rights reserved.

  2. Water Infiltration and Hydraulic Conductivity in Sandy Cambisols

    DEFF Research Database (Denmark)

    Bens, Oliver; Wahl, Niels Arne; Fischer, Holger

    2006-01-01

    from pure Scots pine stands towards pure European beech stands. The water infiltration capacity and hydraulic conductivity (K) of the investigated sandy-textured soils are low and very few macropores exist. Additionally these pores are marked by poor connectivity and therefore do not have any...... of the experimental soils. The results indicate clearly that soils play a crucial role for water retention and therefore, in overland flow prevention. There is a need to have more awareness on the intimate link between the land use and soil properties and their possible effects on flooding.......Soil hydrological properties like infiltration capacity and hydraulic conductivity have important consequences for hydrological properties of soils in river catchments and for flood risk prevention. They are dynamic properties due to varying land use management practices. The objective...

  3. FLOOD HAZARD MAP IN THE CITY OF BATNA (ALGERIA BY HYDRAULIC MODELING APPROCH

    Directory of Open Access Journals (Sweden)

    Guellouh SAMI

    2016-06-01

    Full Text Available In the light of the global climatic changes that appear to influence the frequency and the intensity of floods, and whose damages are still growing; understanding the hydrological processes, their spatiotemporal setting and their extreme shape, became a paramount concern to local communities in forecasting terms. The aim of this study is to map the floods hazard using a hydraulic modeling method. In fact, using the operating Geographic Information System (GIS, would allow us to perform a more detailed spatial analysis about the extent of the flooding risk, through the approval of the hydraulic modeling programs in different frequencies. Based on the results of this analysis, decision makers can implement a strategy of risk management related to rivers overflowing through the city of Batna.

  4. 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.

  5. 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.

  6. DCS Hydraulics Submittal, Bullock County, Alabama, USA

    Data.gov (United States)

    Federal Emergency Management Agency, Department of Homeland Security — Hydraulics data includes spatial datasets and data tables necessary for documenting the hydraulic procedures for computing flood elevations for a flood insurance...

  7. DCS Hydraulics Submittal, Butler County, Alabama, USA

    Data.gov (United States)

    Federal Emergency Management Agency, Department of Homeland Security — Hydraulics data includes spatial datasets and data tables necessary for documenting the hydraulic procedures for computing flood elevations for a flood insurance...

  8. DCS Hydraulics Submittal, Covington County, Alabama, USA

    Data.gov (United States)

    Federal Emergency Management Agency, Department of Homeland Security — Hydraulics data includes spatial datasets and data tables necessary for documenting the hydraulic procedures for computing flood elevations for a flood insurance...

  9. Evaluation of Hydraulic Fracturing (Fracking) Plays for Potential Impact on USACE-Managed Waterways

    Science.gov (United States)

    2015-01-01

    Approved for public release; distribution is unlimited. ERDC/TN DOTS-15-1 January 2015 Evaluation of Hydraulic Fracturing ( Fracking ) Plays...fracturing operations (hydrofracturing or “ fracking ”) to increase petrochemical (natural gas and petroleum) production resulted in elevated environmental...Shale, has raised concerns that fracking operations could impact waterways managed by the U.S. Army Corps of Engineers (USACE). The purpose of this

  10. [Global risk management].

    Science.gov (United States)

    Sghaier, W; Hergon, E; Desroches, A

    2015-08-01

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

  11. Managing flowback and produced water from hydraulic fracturing under stochastic environment

    Science.gov (United States)

    Zhang, X.; Sun, A. Y.; Duncan, I. J.; Vesselinov, V. V.

    2017-12-01

    A large volume of wastewater is being generated from hydraulic fracturing in shale gas plays, including flowback and produced water. The produced wastewater in terms of its quantity and quality has become one of the main environmental problems facing shale gas industries worldwide. Cost-effective planning and management of flowback and produced water is highly desirable. Careful choice of treatment, disposal, and reuse options can lower costs and reduce potential environmental impacts. To handle the recourse issue in decision-making, a two-stage stochastic management model is developed to provide optimal alternatives for fracturing wastewater management. The proposed model is capable of prompting corrective actions to allow decision makers to adjust the pre-defined management strategies. By using this two-stage model, potential penalties arising from decision infeasibility can be minimized. The applicability of the proposed model is demonstrated using a representative synthetic example, in which tradeoffs between economic and environmental goals are quantified. This approach can generate informed defensible decisions for shale gas wastewater management. In addition, probabilistic and non-probabilistic uncertainties are effectively addressed.

  12. 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.

  13. 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.

  14. 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...

  15. Automated Hydraulic System Design and Power Management in Mobile Applications

    DEFF Research Database (Denmark)

    Pedersen, Henrik Clemmensen

    force, torque and power density. One of these areas is the mobile hydraulic area, which generally comprise all type of off-highway machinery, such as construction equipment, agricultural equipment etc. But where hydraulic systems earlier was designed with primary focus on cost, dynamic performance...... and accuracy, energy consumption is becoming an ever more important design parameter. At the same time as the first oil crisis the first hydraulic load sensing (LS) systems also emerged on the market, which, compared to the other systems of the time, offered significant energy saving potentials and which today...... are found on most medium and high-end mobile hydraulic machinery. Despite the energy saving potentials that these systems posses, compared to the other open-circuit hydraulic system topologies, LS-system may still be subject to very low system efficiencies if not designed correctly. This is typically...

  16. 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....

  17. Thermal-hydraulics for space power, propulsion, and thermal management system design

    International Nuclear Information System (INIS)

    Krotiuk, W.J.

    1990-01-01

    The present volume discusses thermal-hydraulic aspects of current space projects, Space Station thermal management systems, the thermal design of the Space Station Free-Flying Platforms, the SP-100 Space Reactor Power System, advanced multi-MW space nuclear power concepts, chemical and electric propulsion systems, and such aspects of the Space Station two-phase thermal management system as its mechanical pumped loop and its capillary pumped loop's supporting technology. Also discussed are the startup thaw concept for the SP-100 Space Reactor Power System, calculational methods and experimental data for microgravity conditions, an isothermal gas-liquid flow at reduced gravity, low-gravity flow boiling, computations of Space Shuttle high pressure cryogenic turbopump ball bearing two-phase coolant flow, and reduced-gravity condensation

  18. Urban micro-scale flood risk estimation with parsimonious hydraulic modelling and census data

    Directory of Open Access Journals (Sweden)

    C. Arrighi

    2013-05-01

    Full Text Available The adoption of 2007/60/EC Directive requires European countries to implement flood hazard and flood risk maps by the end of 2013. Flood risk is the product of flood hazard, vulnerability and exposure, all three to be estimated with comparable level of accuracy. The route to flood risk assessment is consequently much more than hydraulic modelling of inundation, that is hazard mapping. While hazard maps have already been implemented in many countries, quantitative damage and risk maps are still at a preliminary level. A parsimonious quasi-2-D hydraulic model is here adopted, having many advantages in terms of easy set-up. It is here evaluated as being accurate in flood depth estimation in urban areas with a high-resolution and up-to-date Digital Surface Model (DSM. The accuracy, estimated by comparison with marble-plate records of a historic flood in the city of Florence, is characterized in the downtown's most flooded area by a bias of a very few centimetres and a determination coefficient of 0.73. The average risk is found to be about 14 € m−2 yr−1, corresponding to about 8.3% of residents' income. The spatial distribution of estimated risk highlights a complex interaction between the flood pattern and the building characteristics. As a final example application, the estimated risk values have been used to compare different retrofitting measures. Proceeding through the risk estimation steps, a new micro-scale potential damage assessment method is proposed. This is based on the georeferenced census system as the optimal compromise between spatial detail and open availability of socio-economic data. The results of flood risk assessment at the census section scale resolve most of the risk spatial variability, and they can be easily aggregated to whatever upper scale is needed given that they are geographically defined as contiguous polygons. Damage is calculated through stage–damage curves, starting from census data on building type and

  19. Report realized in the name of the finances, economy and the plan commission on the project of financing law for 2009 (n. 1127), annex n. 13 ecology, sustainable development and management risks prevention planing of the ecology, the energy, the sustainable development and the territory management policies

    International Nuclear Information System (INIS)

    2008-01-01

    This document presents the law project n. 1127 for 2009, concerning the risks prevention in the framework of the ecology and the sustainable development and management. The first part details the program of risks prevention (technological, pollutions, natural and hydraulic risks, nuclear safety and radioprotection, the mine site rehabilitation). The second part develops the ecology, energy sustainable development and territory management, policies. (A.L.B.)

  20. 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

  1. 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.

  2. Rethinking risk management

    International Nuclear Information System (INIS)

    Kloman, H.F.

    1992-01-01

    The purpose of this paper is to bring together the ideas of those who currently practice the many different forms of risk management on a global basis. These forms include guidance of public policy on macro risks, risk financing and insurance for many larger commercial organizations, managing credit, currency and interest rate risks for financial institutions, plus other extensions of risk management including security, quality control, and quality assurance in a health-care environment

  3. DCS Hydraulics Submittal, Otero County, New Mexico, USA

    Data.gov (United States)

    Federal Emergency Management Agency, Department of Homeland Security — Hydraulics data includes spatial datasets and data tables necessary for documenting the hydraulic procedures for computing flood elevations for a flood insurance...

  4. Risks to Water Resources from Shale Gas Development and Hydraulic Fracturing in the United States

    Science.gov (United States)

    Vengosh, Avner; Jackson, Robert B.; Warner, Nathaniel; Darrah, Thomas H.; Kondash, Andrew

    2014-05-01

    The rise of shale gas development through horizontal drilling and high volume hydraulic fracturing has expanded oil and gas exploration in the USA. The rapid rate of shale gas exploration has triggered an intense public debate regarding the potential environmental and human health effects. A review of the updated literature has identified four potential risks for impacts on water resources: (1) stray gas contamination of shallow aquifers near shale gas sites; (2) contamination of surface water and shallow groundwater from spills, leaks, and disposal of inadequately treated wastewater or hydraulic fracturing fluids; (3) accumulation of toxic and radioactive residues in soil or stream sediments near disposal or spill sites; and (4) over-extraction of water resources for drilling and hydraulic fracturing that could induce water shortages and conflicts with other water users, particularly in water-scarce areas. As part of a long-term research on the potential water contamination associated with shale gas development, new geochemical and isotopic techniques have been developed for delineating the origin of gases and contaminants in water resource. In particular, multiple geochemical and isotopic (carbon isotopes in hydrocarbons, noble gas, strontium, boron, radium isotopes) tracers have been utilized to distinguish between naturally occurring dissolved gas and salts in water and contamination directly induced from shale gas drilling and hydraulic fracturing operations.

  5. 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...

  6. 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

  7. Characteristics and management of flowback/produced water from hydraulically fractured wells in California - findings from the California SB 4 assessment

    Science.gov (United States)

    Varadharajan, C.; Cooley, H.; Heberger, M. G.; Stringfellow, W. T.; Domen, J. K.; Sandelin, W.; Camarillo, M. K.; Jordan, P. D.; Reagan, M. T.; Donnelly, K.; Birkholzer, J. T.; Long, J. C. S.

    2015-12-01

    As part of a recent assessment of well stimulation in California, we analyzed the hazards and potential impacts of hydraulic fracturing (the primary form of well stimulation in California) on water resources, which included an analysis of the quantity and quality of flowback/produced water generated, current management and disposal practices, associated potential release mechanisms and transport pathways that can lead to contaminants being released into the environment, and practices to mitigate or avoid impacts from produced water on water resources. The wastewater returned after stimulation includes "recovered fluids" (flowback fluids collected into tanks following stimulation, but before the start of production) and "produced water" (water extracted with oil and gas during production). In contrast to hydraulic fracturing in regions with primarily gas production, the quantities of recovered fluids from hydraulically fractured wells in California are small in comparison to the fluids injected (typically analysis indicates some fraction of returning fracturing fluids is likely present in produced water from wells that have been hydraulically fractured. Chemical measurements of recovered fluids show that some samples can contain high levels of some contaminants, including total carbohydrates (indicating the presence of guar, a component of fracturing fluid), total dissolved solids (TDS), trace elements and naturally occurring radioactive material (NORM). Data on produced water chemistry are more limited. In California, produced water is typically managed via pipelines and disposed or reused in many ways. A majority of produced water from hydraulically fractured wells in California is disposed in percolation pits, many of which may lie in areas with good groundwater quality. Some of the remaining produced water is injected into Class II wells; although a few of the wells are under review or have been shut down since they were injecting into aquifers. Other methods of

  8. Transboundary Extraction of Groundwater in the Presence of Hydraulic Fracturing

    OpenAIRE

    Poudel, Biswo N.; Paudel, Krishna P.; Zilberman, David

    2013-01-01

    We studied transboundary ground water management problems in the presence of hydraulic fracturing (fracking). We found that the presence of risk suggests a need to exercise caution in fracking. We also found that a cooperative outcome implies the decrease in fracking and the increase in steady state survival rate of groundwater. However, water extraction rates remained the same in both cooperative and noncooperative solutions. We also argue that a Pigouvian type tax could be imposed on the na...

  9. Analysis of INDOT current hydraulic policies : [technical summary].

    Science.gov (United States)

    2011-01-01

    Hydraulic design often tends to be on a conservative side for safety reasons. Hydraulic structures are typically oversized with the goal being reduced future maintenance costs, and to reduce the risk of property owner complaints. This approach leads ...

  10. 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)

  11. 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.

  12. 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.

  13. 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....

  14. A critical review of the risks to water resources from unconventional shale gas development and hydraulic fracturing in the United States.

    Science.gov (United States)

    Vengosh, Avner; Jackson, Robert B; Warner, Nathaniel; Darrah, Thomas H; Kondash, Andrew

    2014-01-01

    The rapid rise of shale gas development through horizontal drilling and high volume hydraulic fracturing has expanded the extraction of hydrocarbon resources in the U.S. The rise of shale gas development has triggered an intense public debate regarding the potential environmental and human health effects from hydraulic fracturing. This paper provides a critical review of the potential risks that shale gas operations pose to water resources, with an emphasis on case studies mostly from the U.S. Four potential risks for water resources are identified: (1) the contamination of shallow aquifers with fugitive hydrocarbon gases (i.e., stray gas contamination), which can also potentially lead to the salinization of shallow groundwater through leaking natural gas wells and subsurface flow; (2) the contamination of surface water and shallow groundwater from spills, leaks, and/or the disposal of inadequately treated shale gas wastewater; (3) the accumulation of toxic and radioactive elements in soil or stream sediments near disposal or spill sites; and (4) the overextraction of water resources for high-volume hydraulic fracturing that could induce water shortages or conflicts with other water users, particularly in water-scarce areas. Analysis of published data (through January 2014) reveals evidence for stray gas contamination, surface water impacts in areas of intensive shale gas development, and the accumulation of radium isotopes in some disposal and spill sites. The direct contamination of shallow groundwater from hydraulic fracturing fluids and deep formation waters by hydraulic fracturing itself, however, remains controversial.

  15. 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 ...

  16. 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.

  17. 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...

  18. 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...

  19. 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)

  20. Review and Comparison of Power Management Approaches for Hybrid Vehicles with Focus on Hydraulic Drives

    Directory of Open Access Journals (Sweden)

    Mohammad Ali Karbaschian

    2014-05-01

    Full Text Available The main advantage of hybrid powertrains is based on the efficient transfer of power and torque from power sources to the powertrain as well as recapturing of reversible energies without effecting the vehicle performance. The benefits of hybrid hydraulic powertrains can be better utilized with an appropriate power management. In this paper, different types of power management algorithms like off-line and on-line methods are briefly reviewed and classified. Finally, the algorithms are evaluated and compared. Therefore, different related criteria are evaluated and applied.

  1. 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...

  2. 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).

  3. 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

  4. Beneficial effects on water management of simple hydraulic structures in wetland systems: the Vallevecchia case study, Italy.

    Science.gov (United States)

    Carrer, G M; Bonato, M; Smania, D; Barausse, A; Comis, C; Palmeri, L

    2011-01-01

    Conflicting water uses in coastal zones demand integrated approaches to achieve sustainable water resources management, protecting water quality while allowing those human activities which rely upon aquatic ecosystem services to thrive. This case study shows that the creation and simple management of hydraulic structures within constructed wetlands can markedly reduce the non-point pollution from agriculture and, simultaneously, benefit agricultural activities, particularly during hot and dry periods. The Vallevecchia wetland system is based on a reclaimed 900 ha-large drainage basin in Northern Italy, where droughts recently impacted agriculture causing water scarcity and saltwater intrusion. Rainwater and drained water are recirculated inside the system to limit saltwater intrusion, provide irrigation water during dry periods and reduce the agricultural nutrient loads discharged into the bordering, eutrophic Adriatic Sea. Monitoring (2003-2009) of water quality and flows highlights that the construction (ended in 2005) of a gated spillway to control the outflow, and of a 200,000 m3 basin for water storage, dramatically increased the removal of nutrients within the system. Strikingly, this improvement was achieved with a minimal management effort, e.g., each year the storage basin was filled once: a simple management of the hydraulic structures would greatly enhance the system efficiency, and store more water to irrigate and limit saltwater intrusion.

  5. 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...

  6. The risk of hydraulic fracturing on public health in the UK and the UK's fracking legislation.

    Science.gov (United States)

    Reap, Elisabeth

    2015-01-01

    Hydraulic fracturing to extract natural gas from shale rock is a new, rapidly expanding industry in the United States (US). However, there is concern that these operations could be having large negative impacts such as groundwater contamination, increased air pollution and seismic events. The United Kingdom (UK) is looking at the potential for emulating the success of 'shale gas' in the US. Differences in population density and geological conditions mean that the public health impacts recorded in the US cannot be directly extrapolated to the UK. There is limited academic literature available but findings suggest that the UK government is not fully recognising the inherent risks of hydraulic fracturing exposed by this literature. Government reports suggest a reliance on engineering solutions and better practice to overcome problems found in the US when evidence suggests that there are inherent risks and impacts that cannot be eliminated. This study applies US results to approximate the impact of one exposure pathway, inhalation of hydrocarbons by the public from operational air emissions over the 30 year lifetime of a well and finds that 7.2 extra cancer cases from exposure to air contamination would be expected in the UK if all test sites, approved test sites and test sites awaiting approval as of January 2015 went on to extract gas. In conclusion, limited assessment of the public health implications of hydraulic fracturing operations is available but the UK government appears to not be applying the precautionary principle to potentially significant legislation.

  7. 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.

  8. 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.

  9. Does reintroducing large wood influence the hydraulic landscape of a lowland river system?

    Science.gov (United States)

    Matheson, Adrian; Thoms, Martin; Reid, Michael

    2017-09-01

    Our understanding of the effectiveness of reintroduced large wood for restoration is largely based on studies from high energy river systems. By contrast, few studies of the effectiveness of reintroducing large wood have been undertaken on large, low energy, lowland river systems: river systems where large wood is a significant physical feature on the in-channel environment. This study investigated the effect of reintroduced large wood on the hydraulic landscape of the Barwon-Darling River, Australia, at low flows. To achieve this, the study compared three hydraulic landscapes of replicated reference (naturally wooded), control (unwooded,) and managed (wood reintroduced) treatments on three low flow periods. These time periods were prior to the reintroduction of large wood to managed reaches; several months after the reintroduction of large wood into the managed reaches; and then more than four years after wood reintroduction following several large flood events. Hydraulic landscapes of reaches were characterised using a range of spatial measures calculated from velocity measurements taken with a boat-mounted Acoustic Doppler Profiler. We hypothesised that reintroduced large wood would increase the diversity of the hydraulic landscape at low flows and that managed reaches would be more similar to the reference reaches. Our results suggest that the reintroduction of large wood did not significantly change the character of the hydraulic landscape at the reach scale after several months (p = 0.16) or several years (p = 0.29). Overall, the character of the hydraulic landscape in the managed reaches was more similar to the hydraulic landscape of the control reaches than the hydraulic landscape of the reference reaches, at low flows. Some variability in the hydraulic landscapes was detected over time, and this may reflect reworking of riverbed sediments and sensitivity to variation in discharge. The lack of a response in the low flow hydraulic landscape to the

  10. 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)

  11. 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

  12. 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 ...

  13. [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.

  14. 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.

  15. 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 ...

  16. HYDRAULICS, SHELBY COUNTY, KENTUCKY, USA

    Data.gov (United States)

    Federal Emergency Management Agency, Department of Homeland Security — Hydraulic data include spatial datasets and data tables necessary for documenting the hydrologic procedures for estimating flood discharges for a flood insurance...

  17. HYDRAULICS, MEADE COUNTY, KENTUCKY, USA

    Data.gov (United States)

    Federal Emergency Management Agency, Department of Homeland Security — Hydraulic data include spatial datasets and data tables necessary for documenting the hydrologic procedures for estimating flood discharges for a flood insurance...

  18. 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.

  19. 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.

  20. An analysis of chemicals and other constituents found in produced water from hydraulically fractured wells in California and the challenges for wastewater management.

    Science.gov (United States)

    Chittick, Emily A; Srebotnjak, Tanja

    2017-12-15

    As high-volume hydraulic fracturing (HF) has grown substantially in the United States over the past decade, so has the volume of produced water (PW), i.e., briny water brought to the surface as a byproduct of oil and gas production. According to a recent study (Groundwater Protection Council, 2015), more than 21 billion barrels of PW were generated in 2012. In addition to being high in TDS, PW may contain hydrocarbons, PAH, alkylphenols, naturally occurring radioactive material (NORM), metals, and other organic and inorganic substances. PW from hydraulically fractured wells includes flowback water, i.e., injection fluids containing chemicals and additives used in the fracturing process such as friction reducers, scale inhibitors, and biocides - many of which are known to cause serious health effects. It is hence important to gain a better understanding of the chemical composition of PW and how it is managed. This case study of PW from hydraulically fractured wells in California provides a first aggregate chemical analysis since data collection began in accordance with California's 2013 oil and gas well stimulation law (SB4, Pavley). The results of analyzing one-time wastewater analyses of 630 wells hydraulically stimulated between April 1, 2014 and June 30, 2015 show that 95% of wells contained measurable and in some cases elevated concentrations of BTEX and PAH compounds. PW from nearly 500 wells contained lead, uranium, and/or other metals. The majority of hazardous chemicals known to be used in HF operations, including formaldehyde and acetone, are not reported in the published reports. The prevalent methods for dealing with PW in California - underground injection and open evaporation ponds - are inadequate for this waste stream due to risks from induced seismicity, well integrity failure, well upsets, accidents and spills. Beneficial reuse of PW, such as for crop irrigation, is as of yet insufficiently safety tested for consumers and agricultural workers as

  1. 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)

  2. 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.

  3. 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:...

  4. Nuclear power plant thermal-hydraulic performance research program plan

    International Nuclear Information System (INIS)

    1988-07-01

    The purpose of this program plan is to present a more detailed description of the thermal-hydraulic research program than that provided in the NRC Five-Year Plan so that the research plan and objectives can be better understood and evaluated by the offices concerned. The plan is prepared by the Office of Nuclear Regulatory Research (RES) with input from the Office of Nuclear Reactor Regulation (NRR) and updated periodically. The plan covers the research sponsored by the Reactor and Plant Systems Branch and defines the major issues (related to thermal-hydraulic behavior in nuclear power plants) the NRC is seeking to resolve and provides plans for their resolution; relates the proposed research to these issues; defines the products needed to resolve these issues; provides a context that shows both the historical perspective and the relationship of individual projects to the overall objectives; and defines major interfaces with other disciplines (e.g., structural, risk, human factors, accident management, severe accident) needed for total resolution of some issues. This plan addresses the types of thermal-hydraulic transients that are normally considered in the regulatory process of licensing the current generation of light water reactors. This process is influenced by the regulatory requirements imposed by NRC and the consequent need for technical information that is supplied by RES through its contractors. Thus, most contractor programmatic work is administered by RES. Regulatory requirements involve the normal review of industry analyses of design basis accidents, as well as the understanding of abnormal occurrences in operating reactors. Since such transients often involve complex thermal-hydraulic interactions, a well-planned thermal-hydraulic research plan is needed

  5. 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

  6. 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.

  7. 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.

  8. 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.

  9. 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

  10. IMPLEMENTING A RISK MANAGEMENT STANDARD

    Directory of Open Access Journals (Sweden)

    Constantin PREDA

    2013-01-01

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

  11. Method of Relating Grain Size Distribution to Hydraulic Conductivity in Dune Sands to Assist in Assessing Managed Aquifer Recharge Projects: Wadi Khulays Dune Field, Western Saudi Arabia

    KAUST Repository

    Lopez Valencia, Oliver Miguel; Jadoon, Khan; Missimer, Thomas

    2015-01-01

    Planning for use of a dune field aquifer for managed aquifer recharge (MAR) requires that hydraulic properties need to be estimated over a large geographic area. Saturated hydraulic conductivity of dune sands is commonly estimated from grain size

  12. Analysis of the Coupled Influence of Hydraulic Conductivity and Porosity Heterogeneity on Probabilistic Risk Analysis

    Science.gov (United States)

    Libera, A.; Henri, C.; de Barros, F.

    2017-12-01

    Heterogeneities in natural porous formations, mainly manifested through the hydraulic conductivity (K) and, to a lesser degree, the porosity (Φ), largely control subsurface flow and solute transport. The influence of the heterogeneous structure of K on flow and solute transport processes has been widely studied, whereas less attention is dedicated to the joint heterogeneity of conductivity and porosity fields. Our study employs computational tools to investigate the joint effect of the spatial variabilities of K and Φ on the transport behavior of a solute plume. We explore multiple scenarios, characterized by different levels of heterogeneity of the geological system, and compare the computational results from the joint K and Φ heterogeneous system with the results originating from the generally adopted constant porosity case. In our work, we assume that the heterogeneous porosity is positively correlated to hydraulic conductivity. We perform numerical Monte Carlo simulations of conservative and reactive contaminant transport in a 3D aquifer. Contaminant mass and plume arrival times at multiple control planes and/or pumping wells operating under different extraction rates are analyzed. We employ different probabilistic metrics to quantify the risk at the monitoring locations, e.g., increased lifetime cancer risk and exceedance of Maximum Contaminant Levels (MCLs), under multiple transport scenarios (i.e., different levels of heterogeneity, conservative or reactive solutes and different contaminant species). Results show that early and late arrival times of the solute mass at the selected sensitive locations (i.e. control planes/pumping wells) as well as risk metrics are strongly influenced by the spatial variability of the Φ field.

  13. 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

  14. 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.

  15. 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 Managementrisk 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

  16. Understanding the geomorphology of macrochannel systems for flood risk management in Queensland, Australia

    Science.gov (United States)

    Thompson, Chris; Croke, Jacky

    2016-04-01

    The year 2010-2011 was the wettest on record for the state of Queensland, Australia producing catastrophic floods. A tropical low pressure system in 2013 delivered further extreme flood events across South East Queensland (SEQ) which prompted state and local governments to conduct studies into flood magnitude and frequency in the region and catchment factors contributing to flood hazards. The floods in the region are strongly influenced by El Nino-Southern Oscillation (ENSO) phenomenon, but also modulated by the Interdecadal Pacific Oscillation (IPO) which leads to flood and drought dominated regimes and high hydrological variability. One geomorphic feature in particular exerted a significant control on the transmission speed, the magnitude of flood inundation and resultant landscape resilience. This feature was referred to as a 'macrochannel', a term used to describe a 'large-channel' which has bankfull recurrence intervals generally greater than 10 years. The macrochannels display non-linear downstream hydraulic geometry which leads to zones of flood expansion (when hydraulic geometry decreases) and zones of flood contraction (when hydraulic geometry increases). The pattern of contraction and expansion zones determines flood hazard zones. The floods caused significant wet flow bank mass failures that mobilised over 1,000,000 m3 of sediment in one subcatchment. Results suggest that the wetflow bank mass failures are a stage in a cyclical evolution process which maintains the macrochannel morphology, hence channel resilience to floods. Chronological investigations further show the macrochannels are laterally stable and identify periods of heightened flood activity over the past millennium and upper limits on flood magnitude. This paper elaborates on the results of the geomorphic investigations on Lockyer Creek in SEQ and how the results have alerted managers and policy makers to the different flood responses of these systems and how flood risk management plans can

  17. Application of Bayesian and cost benefit risk analysis in water resources management

    Science.gov (United States)

    Varouchakis, E. A.; Palogos, I.; Karatzas, G. P.

    2016-03-01

    Decision making is a significant tool in water resources management applications. This technical note approaches a decision dilemma that has not yet been considered for the water resources management of a watershed. A common cost-benefit analysis approach, which is novel in the risk analysis of hydrologic/hydraulic applications, and a Bayesian decision analysis are applied to aid the decision making on whether or not to construct a water reservoir for irrigation purposes. The alternative option examined is a scaled parabolic fine variation in terms of over-pumping violations in contrast to common practices that usually consider short-term fines. The methodological steps are analytically presented associated with originally developed code. Such an application, and in such detail, represents new feedback. The results indicate that the probability uncertainty is the driving issue that determines the optimal decision with each methodology, and depending on the unknown probability handling, each methodology may lead to a different optimal decision. Thus, the proposed tool can help decision makers to examine and compare different scenarios using two different approaches before making a decision considering the cost of a hydrologic/hydraulic project and the varied economic charges that water table limit violations can cause inside an audit interval. In contrast to practices that assess the effect of each proposed action separately considering only current knowledge of the examined issue, this tool aids decision making by considering prior information and the sampling distribution of future successful audits.

  18. Assimilation of temperature and hydraulic gradients for quantifying the spatial variability of streambed hydraulics

    Science.gov (United States)

    Huang, Xiang; Andrews, Charles B.; Liu, Jie; Yao, Yingying; Liu, Chuankun; Tyler, Scott W.; Selker, John S.; Zheng, Chunmiao

    2016-08-01

    Understanding the spatial and temporal characteristics of water flux into or out of shallow aquifers is imperative for water resources management and eco-environmental conservation. In this study, the spatial variability in the vertical specific fluxes and hydraulic conductivities in a streambed were evaluated by integrating distributed temperature sensing (DTS) data and vertical hydraulic gradients into an ensemble Kalman filter (EnKF) and smoother (EnKS) and an empirical thermal-mixing model. The formulation of the EnKF/EnKS assimilation scheme is based on a discretized 1D advection-conduction equation of heat transfer in the streambed. We first systematically tested a synthetic case and performed quantitative and statistical analyses to evaluate the performance of the assimilation schemes. Then a real-world case was evaluated to calculate assimilated specific flux. An initial estimate of the spatial distributions of the vertical hydraulic gradients was obtained from an empirical thermal-mixing model under steady-state conditions using a constant vertical hydraulic conductivity. Then, this initial estimate was updated by repeatedly dividing the assimilated specific flux by estimates of the vertical hydraulic gradients to obtain a refined spatial distribution of vertical hydraulic gradients and vertical hydraulic conductivities. Our results indicate that optimal parameters can be derived with fewer iterations but greater simulation effort using the EnKS compared with the EnKF. For the field application in a stream segment of the Heihe River Basin in northwest China, the average vertical hydraulic conductivities in the streambed varied over three orders of magnitude (5 × 10-1 to 5 × 102 m/d). The specific fluxes ranged from near zero (qz < ±0.05 m/d) to ±1.0 m/d, while the vertical hydraulic gradients were within the range of -0.2 to 0.15 m/m. The highest and most variable fluxes occurred adjacent to a debris-dam and bridge pier. This phenomenon is very likely

  19. Hydraulic fracture considerations in oil sand overburden dams

    Energy Technology Data Exchange (ETDEWEB)

    Cameron, R.; Madden, B.; Danku, M. [Syncrude Canada Ltd., Fort McMurray, AB (Canada)

    2008-07-01

    This paper discussed hydraulic fracture potential in the dry-filled temporary dams used in the oil sands industry. Hydraulic fractures can occur when reservoir fluid pressures are greater than the minimum stresses in a dam. Stress and strain conditions are influenced by pore pressures, levels of compaction in adjacent fills as well as by underlying pit floor and abutment conditions. Propagation pressure and crack initiation pressures must also be considered in order to provide improved hydraulic fracture protection to dams. Hydraulic fractures typically result in piping failures. Three cases of hydraulic fracture at oil sands operations in Alberta were presented. The study showed that hydraulic fracture failure modes must be considered in dam designs, particularly when thin compacted lift of dry fill are used to replace wetted clay cores. The risk of hydraulic fractures can be reduced by eliminating in situ bedrock irregularities and abutments. Overpressure heights, abutment sloping, and the sloping of fills above abutments, as well as the dam's width and base conditions must also be considered in relation to potential hydraulic fractures. It was concluded that upstream sand beaches and internal filters can help to prevent hydraulic fractures in dams in compacted control zones. 5 refs., 16 figs.

  20. 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...

  1. 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.

  2. 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

  3. 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 .

  4. 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...

  5. 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...

  6. 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...

  7. 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?”

  8. 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...

  9. 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.

  10. 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...

  11. Collaborative multi-stakeholder approach to drafting flood risk management plans in Wallonia, Belgium

    Science.gov (United States)

    Maroy, Edith; Javaux, Mathieu; Vandermosten, Pierre; Englebert, Benjamin

    2015-04-01

    The Flood Directive 2007/60/CE establishes a common framework within the European Union for assessing and reducing risks posed by floods on human health, the environment, economic activity and cultural heritage. For that purpose, Member States had to establish flood areas and flood risk maps, and subsequently, flood risk management plans (due December 2015). According to the Directive, special attention is to be paid to international coordination for transboundary water courses, integrated management approaches at the catchment scale, cost-effectiveness of measures and public involvement. Management measures must focus on reducing the probability of flooding and the potential consequences of flooding. They must cover prevention, protection and preparedness and must take into account relevant aspects, such as water management, soil management, spatial planning, land use and nature conservation. Floods in Wallonia mostly originate from overflowing of both little sloped rivers and highly reactive rivers but also, from concentrated runoff in the intensely cultivated and erosion-prone region north of the Sambre-Meuse axis. Consequently, walloon flood area maps not only show flood areas based on hydraulic modelling and observations but also runoff concentration axis in agricultural areas. Now released to the public, this information can be used to assess the risk of damage for land planning and erosion control strategies. Incidentally, some 166 km2 were mapped as flood hazard area with a return period of 25 years, 28.8 of which are urbanized or destined to urbanisation and counting of number of approximatively 39.000 people living in those areas. Flood area and flood risk maps should be the starting point of elaborating flood risk management plans. In order to involve the diversity of water managers and stakeholders in the drafting of a management plan for hydrographic districts in Wallonia, responsible authorities decided to mandate scientists and engineers to organize

  12. The Irma-sponge Program: Methodologies For Sustainable Flood Risk Management Along The Rhine and Meuse Rivers

    Science.gov (United States)

    Hooijer, A.; van Os, A. G.

    Recent flood events and socio-economic developments have increased the awareness of the need for improved flood risk management along the Rhine and Meuse Rivers. In response to this, the IRMA-SPONGE program incorporated 13 research projects in which over 30 organisations from all 6 River Basin Countries co-operated. The pro- gram is financed partly by the European INTERREG Rhine-Meuse Activities (IRMA). The main aim of IRMA-SPONGE is defined as: "The development of methodologies and tools to assess the impact of flood risk reduction measures and of land-use and climate change scenarios. This to support the spatial planning process in establish- ing alternative strategies for an optimal realisation of the hydraulic, economical and ecological functions of the Rhine and Meuse River Basins." Further important objec- tives are to promote transboundary co-operation in flood risk management by both scientific and management organisations, and to promote public participation in flood management issues. The projects in the program are grouped in three clusters, looking at measures from different scientific angles. The results of the projects in each cluster have been evaluated to define recommendations for flood risk management; some of these outcomes call for a change to current practices, e.g.: 1. (Flood Risk and Hydrol- ogy cluster): hydrological changes due to climate change exceed those due to further land use change, and are significant enough to necessitate a change in flood risk man- agement strategies if the currently claimed protection levels are to be sustained. 2. (Flood Protection and Ecology cluster): to not only provide flood protection but also enhance the ecological quality of rivers and floodplains, new flood risk management concepts ought to integrate ecological knowledge from start to finish, with a clear perspective on the type of nature desired and the spatial and time scales considered. 3. (Flood Risk Management and Spatial Planning cluster): extreme

  13. 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.

  14. 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

  15. 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

  16. Comparative Analysis of Hydraulic Fracturing Wastewater Practices in Unconventional Shale Development: Newspaper Coverage of Stakeholder Concerns and Social License to Operate

    Directory of Open Access Journals (Sweden)

    Joel Gehman

    2016-09-01

    Full Text Available In this article we review prior literature regarding the concept of social license to operate, and related concepts, including corporate social responsibility, sustainable development, stakeholder management and cumulative effects. Informed by these concepts, we search for newspaper articles published in North American provinces and states where the Barnett, Duvernay, Marcellus and Montney shale plays are located. Using these data, we tabulate coverage of stakeholder concerns related to hydraulic fracturing and wastewater practices, and compare the extent to which these concerns vary over place and time. Our vocabulary analyses identify differences in the types and quantities of newspaper coverage devoted to concerns regarding hydraulic fracturing activities in general and wastewater practices in particular. We interpret these differences as suggesting that obtaining a social license to operate is likely not a one size fits all proposition. By understanding which stakeholder concerns are most salient in particular places and times, oil and gas operators and regulators can better tailor their strategies and policies to address local concerns. In other words, the findings from this study indicate that conventional understandings of risk as a technical or economic problem may not be adequate for dealing with unconventional resource challenges such as hydraulic fracturing. Operators and regulators may also need to manage social and cultural risks.

  17. Support to the identification of potential risks for the environment and human health arising from hydrocarbons operations involving hydraulic fracturing in Europe

    Energy Technology Data Exchange (ETDEWEB)

    Broomfield, L.; Lelland, A.

    2012-09-15

    The potential risks for the environment and human health arising from shale gas production (hydraulic fracturing) in Europe are assessed. As readily accessible oil and gas reserves are becoming progressively limited, the energy supply industry is turning more to unconventional reserves, which were previously too complex or too expensive to extract, like shale gas. There are significant shale gas reserves in Europe. Permission is being sought in many EU Member States for exploratory works and to bring forward projects for hydraulic fracturing and extraction of shale gas. As with any drilling and extraction process, shale gas extraction brings environmental and health risks which need to be understood and addressed. CE Delft conducted the legal assessment on shale gas related EU legislation. Gaps and uncertainties have been addressed, but no real risks within the legislation have been discovered. A large part of the shale gas related legislation is part of the individual member states legislation and not directly addressed by EU legislation.

  18. 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

  19. 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)

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

    DEFF Research Database (Denmark)

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

    2018-01-01

    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...

  1. 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.

  2. 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

  3. 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

  4. 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.

  5. 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,…

  6. Estimators for initial conditions for optimisation in learning hydraulic systems

    NARCIS (Netherlands)

    Post, W.J.A.E.M.; Burrows, C.R.; Edge, K.A.

    1998-01-01

    In Learning Hydraulic Systems (LHS1. developed at the Eindhoven University of Technology, a specialised optimisation routine is employed In order to reduce energy losses in hydraulic systems. Typical load situations which can be managed by LHS are variable cyclic loads, as can be observed In many

  7. 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.

  8. Plant hydraulic diversity buffers forest ecosystem responses to drought

    Science.gov (United States)

    Anderegg, W.; Konings, A. G.; Trugman, A. T.; Pacala, S. W.; Yu, K.; Sulman, B. N.; Sperry, J.; Bowling, D. R.

    2017-12-01

    Drought impacts carbon, water, and energy cycles in forests and may pose a fundamental threat to forests in future climates. Plant hydraulic transport of water is central to tree drought responses, including curtailing of water loss and the risk of mortality during drought. The effect of biodiversity on ecosystem function has typically been examined in grasslands, yet the diversity of plant hydraulic strategies may influence forests' response to drought. In a combined analysis of eddy covariance measurements, remote-sensing data of plant water content variation, model simulations, and plant hydraulic trait data, we test the degree to which plant water stress schemes influence the carbon cycle and how hydraulic diversity within and across ecosystems affects large-scale drought responses. We find that current plant functional types are not well-suited to capture hydraulic variation and that higher hydraulic diversity buffers ecosystem variation during drought. Our results demonstrate that tree functional diversity, particularly hydraulic diversity, may be critical to simulate in plant functional types in current land surface model projections of future vegetation's response to climate extremes.

  9. 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.

  10. 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.

  11. Automated software for hydraulic simulation of pipeline operation

    Directory of Open Access Journals (Sweden)

    Hurgin Roman

    2018-01-01

    Full Text Available Design of modern water supply systems of large cities as well as their management via renovation of hydraulic models poses time-consuming tasks to researchers, and coping with this task requires specific approaches. When tackling these tasks, water services companies come across a lot of information about various objects of water infrastructure, the majority of which is located underground. In those cases, modern computer-aided design systems containing various components come to help. These systems help to solve a wide array of problems using existing information regarding pipelines, analysis and optimization of their basic parameters. CAD software is becoming an integral part of water supply systems management in large cities, and its capabilities allow engineering and operating companies to not only collect all the necessary data concerning water supply systems in any given city, but also to conduct research aimed at improving various parameters of these systems, including optimization of their hydraulic properties which directly determine the quality of water. This paper contains the analysis of automated CAD software for hydraulic design and management of city water supply systems in order to provide safe and efficient operation of these water supply systems. Authors select the most suitable software that might be used to provide hydraulic compatibility of old and new sections of water supply ring mains after selective or continuous draw-in renovation and decrease in diameter of distribution networks against the background of water consumption decrease in the cities.

  12. Layered clustering multi-fault diagnosis for hydraulic piston pump

    Science.gov (United States)

    Du, Jun; Wang, Shaoping; Zhang, Haiyan

    2013-04-01

    Efficient diagnosis is very important for improving reliability and performance of aircraft hydraulic piston pump, and it is one of the key technologies in prognostic and health management system. In practice, due to harsh working environment and heavy working loads, multiple faults of an aircraft hydraulic pump may occur simultaneously after long time operations. However, most existing diagnosis methods can only distinguish pump faults that occur individually. Therefore, new method needs to be developed to realize effective diagnosis of simultaneous multiple faults on aircraft hydraulic pump. In this paper, a new method based on the layered clustering algorithm is proposed to diagnose multiple faults of an aircraft hydraulic pump that occur simultaneously. The intensive failure mechanism analyses of the five main types of faults are carried out, and based on these analyses the optimal combination and layout of diagnostic sensors is attained. The three layered diagnosis reasoning engine is designed according to the faults' risk priority number and the characteristics of different fault feature extraction methods. The most serious failures are first distinguished with the individual signal processing. To the desultory faults, i.e., swash plate eccentricity and incremental clearance increases between piston and slipper, the clustering diagnosis algorithm based on the statistical average relative power difference (ARPD) is proposed. By effectively enhancing the fault features of these two faults, the ARPDs calculated from vibration signals are employed to complete the hypothesis testing. The ARPDs of the different faults follow different probability distributions. Compared with the classical fast Fourier transform-based spectrum diagnosis method, the experimental results demonstrate that the proposed algorithm can diagnose the multiple faults, which occur synchronously, with higher precision and reliability.

  13. [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.

  14. 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.

  15. 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...

  16. 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...

  17. 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

  18. Enterprise risk management and disclosure

    Directory of Open Access Journals (Sweden)

    Nicoleta Farcane

    2008-01-01

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

  19. 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

  20. 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.

  1. 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...

  2. 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

  3. 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)

  4. 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”.

  5. 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

  6. 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.

  7. 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.

  8. 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...

  9. Report on alternative techniques to hydraulic fracturing for the exploration and exploitation of non conventional hydrocarbons - National Assembly No. 1581 / Senate No. 174

    International Nuclear Information System (INIS)

    LENOIR, Jean-Claude; BATAILLE, Christian

    2013-01-01

    Based on several hearings, and on missions in the USA and in Poland, this report addresses the issue of alternative techniques to hydraulic fracturing which appeared to be more advanced than hearings performed for a preliminary report had suggested. A first part outlines the necessity of fracturing the rock, and presents several possible modalities, proposes a detailed overview of alternative techniques to hydraulic fracturing used in the USA and in Poland. The second part outlines that coal gas is already an exploitable resource without rock fracturing; it discusses the possible perspectives thus associated for the old French coal-mining sites, outlines that this resource can be exploited without requiring hydraulic fracturing, and comments the first assessments. The third part addresses the possible management of risks associated with hydraulic fracturing: risks vary from one region to the other and therefore require further studies; the non-conventional hydrocarbon issue is addressed in different ways in the USA; the use of this technique must be controlled by public authorities. The next part outlines the need of an assessment of national resources before any assessment of the economic impact. The last part formulates several proposals for the future

  10. 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.

  11. 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

  12. 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

  13. 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.

  14. Risk assessment and management logistics chains

    Directory of Open Access Journals (Sweden)

    Vladimir Vikulov

    2014-03-01

    Full Text Available Background: In the context of economic globalization and increasing complexity of economic relations enterprises need methods and techniques to improve and sustain their position on the global market. Integration processes offer business new opportunities, but at the same time present new challenges for the management, including the key objectives of the risk management. Method: On the basis of analysis tools known from the pertinent literature (Supply Chain Management and Supply Chain Risk Management methods, methods of probability theory, methods of risk management, methods of statistics the authors of this paper proposed their own risk assessment method and the method of management of logistics chains. The proposed tool is a specific hybrid of solutions known from the literature. Results: The presented method has been successfully used within the frames of economic-mathematical model of industrial enterprises. Indicators of supply chain risks, including risks caused by supplier are considered in this paper. Authors formed a method of optimizing the level of supply chain risk in the integration with suppliers and customers. Conclusion: Every organization, which starting the process of integration with supplier and customers, needs to use tools, methodologies and techniques for identification of "weak links" in the supply chain. The proposed method allows to fix risk origin places in various links of the supply chain and to identify "weak links" of a logistic chain that may occur in the future. The method is a useful tool for managing not only risks and risk situations, but also to improve the efficiency of current assets management by providing the ability to optimize the level of risk in the current assets management of the industrial enterprise.

  15. 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.

  16. 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.

  17. 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.

  18. 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

  19. 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....

  20. 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

  1. Effects of land use and management on aggregate stability and hydraulic conductivity of soils within River Njoro Watershed in Kenya

    Directory of Open Access Journals (Sweden)

    Zachary G. Mainuri

    2013-09-01

    Full Text Available There has been tremendous changes in land use and management in the River Njoro Watershed during the last three decades. Formerly large scale farms have been converted into smallholder farms and plantation forests have gradually been lost. These changes in land use and management have brought in different approaches that have triggered soil erosion and other forms of land degradation. The objective of this study was to trace the changes in land use and determine their effects on aggregate stability and hydraulic conductivity. A semi detailed soil survey of the watershed was undertaken following a three-tier approach comprising image interpretation, field surveys and laboratory analysis. The measured variables in the soil were analysed using ANOVA and correlation analysis. The major land uses were found to be forestland, agricultural land, grassland, and wetland. A strong soil type _ landscape relationship was observed within the watershed. Soils of slopes were moderately to severely eroded, shallow and less developed whereas those on summits, pen plains, uplands, plateaus and valleys were deep and well developed. Aggregate stability was the highest in forestland and decreased in the order of grassland, agricultural land and wetland respectively. The mean weight diameter under the various land use conditions was 0.68, 0.64, 0.58, and 0 41 respectively. Hydraulic conductivity was the highest in forest-land and decreased in the order of agricultural land, grassland and wetland respectively. There was significant negative correlation between hydraulic conductivity and the bulk density and clay content of the soils. Reduced aggregate stability and lowered hydraulic conductivity is likely to be responsible for some of the severe soil erosion and other forms of land degradation observed in the River Njoro Watershed.

  2. 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.

  3. 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...

  4. 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

  5. Hydraulic System Design of Hydraulic Actuators for Large Butterfly Valves

    Directory of Open Access Journals (Sweden)

    Ye HUANG

    2014-09-01

    Full Text Available Hydraulic control systems of butterfly valves are presently valve-controlled and pump-controlled. Valve-controlled hydraulic systems have serious power loss and generate much heat during throttling. Pump-controlled hydraulic systems have no overflow or throttling losses but are limited in the speed adjustment of the variable-displacement pump, generate much noise, pollute the environment, and have motor power that does not match load requirements, resulting in low efficiency under light loads and wearing of the variable-displacement pump. To overcome these shortcomings, this article designs a closed hydraulic control system in which an AC servo motor drives a quantitative pump that controls a spiral swinging hydraulic cylinder, and analyzes and calculates the structure and parameters of a spiral swinging hydraulic cylinder. The hydraulic system adjusts the servo motor’s speed according to the requirements of the control system, and the motor power matches the power provided to components, thus eliminating the throttling loss of hydraulic circuits. The system is compact, produces a large output force, provides stable transmission, has a quick response, and is suitable as a hydraulic control system of a large butterfly valve.

  6. 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...

  7. 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.

  8. 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.

  9. 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

  10. 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.

  11. 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.

  12. 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.

  13. 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

  14. Structural Stability and Hydraulic Conductivity Of Nkpologu Sandy ...

    African Journals Online (AJOL)

    Studies were conducted in the runoff plots at the University of Nigeria Nsukka Teaching and Resesarch Farm in 2010 and 2011 to monitor the changes in structural stability and saturated hydraulic conductivity (Ksat) of Nkpologu sandy loam soil under different cover management practices. The management practices were ...

  15. 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.

  16. 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

  17. 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…

  18. 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...

  19. 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

  20. 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.

  1. Hydraulic Arm Modeling via Matlab SimHydraulics

    Czech Academy of Sciences Publication Activity Database

    Věchet, Stanislav; Krejsa, Jiří

    2009-01-01

    Roč. 16, č. 4 (2009), s. 287-296 ISSN 1802-1484 Institutional research plan: CEZ:AV0Z20760514 Keywords : simulatin modeling * hydraulics * SimHydraulics Subject RIV: JD - Computer Applications, Robotics

  2. 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...

  3. 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)

  4. 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...

  5. 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...

  6. 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.

  7. 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.

  8. 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...

  9. 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...

  10. RISK MANAGEMENT IN THE ELECTRONIC BUSINESS

    Directory of Open Access Journals (Sweden)

    Georgeta Soava

    2016-12-01

    Full Text Available Risk should not be understood as a destructive phenomenon, but bear in mind that managers who know how to use it can lead to real opportunities. Manager must first recognize the existence of risk, namely to identify and then use specific methods to avoid or reduce the risk. The purpose of this paper is to enter the world, at all simple, of risk management, relatively easy concept to understand but not so easy to put into practice. Of course, the approach relates primarily at the risks inherent of the business in digital environments, but they not represent only a particular case of the risks they are exposed, in general, the companies. In the paper we put in evidence the significance in general business, risks in e-business, then we added a description of the types of security risks, an exemplification of these and a series of test scenarios, and finally to make a analysis of operational solutions of risk management

  11. Trends in risk management in nuclear industry

    International Nuclear Information System (INIS)

    Kim, Inn Seock

    1996-01-01

    Safety management may be classified into three dimensions: risk management, accident management, and emergency management. This paper addresses the recent trends of safety management in nuclear industry, focussing on risk management and accident management

  12. TRManager – Technical Risk Manager

    Directory of Open Access Journals (Sweden)

    Mark A. Gregory

    2009-06-01

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

  13. Integrated supply chain risk management

    OpenAIRE

    Riaan Bredell; Jackie Walters

    2007-01-01

    Integrated supply chain risk management (ISCRM) has become indispensable to the theory and practice of supply chain management. The economic and political realities of the modern world require not only a different approach to supply chain management, but also bold steps to secure supply chain performance and sustainable wealth creation. Integrated supply chain risk management provides supply chain organisations with a level of insight into their supply chains yet to be achieved. If correctly ...

  14. Risks in hospitals. Assessment and Management

    Directory of Open Access Journals (Sweden)

    Bradea Ioana-Alexandra

    2014-12-01

    Full Text Available In a complex world, characterized by a multitude of risks, managers need to manage the risks they encounter, in an efficient way and in the shortest time possible. In the current economic crisis, the concept of hospital risk management, as the process in which is identified, analyzed, reduced, or avoided a risk that may affect the hospital, gained great importance. The Romanian health system, distinguished by: lack of transparency, poor funding, the loss of the valuable medical staff, lack of hospitals in villages and small towns, inability to engage patients due to the old and poor equipment, lack of research and problems in information privacy and cyber-security, requires an appropriate management, enabling risk managers to take decisions in order to avoid the occurrence of risks. Important for the functioning of every hospital is the perception of patients and their degree of satisfaction, regarding the quality of services, which depend largely on the quality of human resources. But what are the human resources weaknesses and risks from the patient point of view? What are the risk indicators which must be monitored to avoid risks? And also, which is the most useful method for measurement and assessment of risk?

  15. [Does clinical risk management require a structured conflict management?].

    Science.gov (United States)

    Neumann, Stefan

    2015-01-01

    A key element of clinical risk management is the analysis of errors causing near misses or patient damage. After analyzing the causes and circumstances, measures for process improvement have to be taken. Process management, human resource development and other established methods are used. If an interpersonal conflict is a contributory factor to the error, there is usually no structured conflict management available which includes selection criteria for various methods of conflict processing. The European University Viadrina in Frankfurt (Oder) has created a process model for introducing a structured conflict management system which is suitable for hospitals and could fill the gap in the methodological spectrum of clinical risk management. There is initial evidence that a structured conflict management reduces staff fluctuation and hidden conflict costs. This article should be understood as an impulse for discussion on to what extent the range of methods of clinical risk management should be complemented by conflict management.

  16. Hydraulic Fracturing: Paving the Way for a Sustainable Future?

    Directory of Open Access Journals (Sweden)

    Jiangang Chen

    2014-01-01

    Full Text Available With the introduction of hydraulic fracturing technology, the United States has become the largest natural gas producer in the world with a substantial portion of the production coming from shale plays. In this review, we examined current hydraulic fracturing literature including associated wastewater management on quantity and quality of groundwater. We conclude that proper documentation/reporting systems for wastewater discharge and spills need to be enforced at the federal, state, and industrial level. Furthermore, Underground Injection Control (UIC requirements under SDWA should be extended to hydraulic fracturing operations regardless if diesel fuel is used as a fracturing fluid or not. One of the biggest barriers that hinder the advancement of our knowledge on the hydraulic fracturing process is the lack of transparency of chemicals used in the practice. Federal laws mandating hydraulic companies to disclose fracturing fluid composition and concentration not only to federal and state regulatory agencies but also to health care professionals would encourage this practice. The full disclosure of fracturing chemicals will allow future research to fill knowledge gaps for a better understanding of the impacts of hydraulic fracturing on human health and the environment.

  17. Hydraulic fracturing: paving the way for a sustainable future?

    Science.gov (United States)

    Chen, Jiangang; Al-Wadei, Mohammed H; Kennedy, Rebekah C M; Terry, Paul D

    2014-01-01

    With the introduction of hydraulic fracturing technology, the United States has become the largest natural gas producer in the world with a substantial portion of the production coming from shale plays. In this review, we examined current hydraulic fracturing literature including associated wastewater management on quantity and quality of groundwater. We conclude that proper documentation/reporting systems for wastewater discharge and spills need to be enforced at the federal, state, and industrial level. Furthermore, Underground Injection Control (UIC) requirements under SDWA should be extended to hydraulic fracturing operations regardless if diesel fuel is used as a fracturing fluid or not. One of the biggest barriers that hinder the advancement of our knowledge on the hydraulic fracturing process is the lack of transparency of chemicals used in the practice. Federal laws mandating hydraulic companies to disclose fracturing fluid composition and concentration not only to federal and state regulatory agencies but also to health care professionals would encourage this practice. The full disclosure of fracturing chemicals will allow future research to fill knowledge gaps for a better understanding of the impacts of hydraulic fracturing on human health and the environment.

  18. Hydraulic Actuators with Autonomous Hydraulic Supply for the Mainline Aircrafts

    Directory of Open Access Journals (Sweden)

    I. S. Shumilov

    2014-01-01

    Full Text Available Applied in the aircraft control systems, hydraulic servo actuators with autonomous hydraulic supply, so-called, hydraulic actuators of integrated configuration, i.e. combination of a source of hydraulic power and its load in the single unit, are aimed at increasing control system reliability both owing to elimination of the pipelines connecting the actuator to the hydraulic supply source, and owing to avoidance of influence of other loads failure on the actuator operability. Their purpose is also to raise control system survivability by eliminating the long pipeline communications and their replacing for the electro-conductive power supply system, thus reducing the vulnerability of systems. The main reason for a delayed application of the hydraulic actuators in the cutting-edge aircrafts was that such aircrafts require hydraulic actuators of considerably higher power with considerable heat releases, which caused an unacceptable overheat of the hydraulic actuators. Positive and negative sides of the hydraulic actuators, their alternative options of increased reliability and survivability, local hydraulic systems as an advanced alternative to independent hydraulic actuators are considered.Now to use hydraulic actuators in mainline aircrafts is inexpedient since there are the unfairly large number of the problems reducing, first and last, safety of flights, with no essential weight and operational advantages. Still works to create competitive hydraulic actuators ought to be continued.Application of local hydraulic systems (LHS will allow us to reduce length of pressure head and drain pipelines and mass of pipelines, as well as to raise their general fail-safety and survivability. Application of the LHS principle will allow us to use a majority of steering drive advantages. It is necessary to allocate especially the following:- ease of meeting requirements for the non-local spread of the engine weight;- essentially reducing length and weight of

  19. Risk management as a social defence against anxiety

    Directory of Open Access Journals (Sweden)

    Dirk J. Geldenhuys

    2012-03-01

    Research purpose: The aim of the study is to describe how risk management unconsciously influences behaviour when doing business in an African country. Motivation for the study: Operational risk management is a rational management imperative. However, this does not take cognisance of the unconscious role of risk management. A systems-psychodynamic perspective might be particularly relevant if the anxiety implied in risk management is not appropriately contained. Awareness of these dynamics may provide an opportunity for addressing them and allow for a more holistic way of managing risk. Research design, approach and method: The researchers conducted the study as a qualitative case study in an African country. They used purposive sampling and analysed the data using qualitative content analysis. Main findings: Viewing risk management from a systems-psychodynamic perspective allowed the researchers to identify the influence of risk management on the behaviour of people. The emerging hypothesis was that, if businesses do not address the anxiety underlying risk management, managing risk becomes a social defence against the anxiety. Practical/managerial implications: Awareness of the anxiety involved in risk management may assist businesses to manage risk in a more realistic way, making provision for, and even capitalising on, the human element. Contributions/value-add: The article provides a systems-psychodynamic, and hence a more complete, perspective of operational risk management when doing business in an African country.

  20. A risk communication case study: the Nevada risk assessment/management program

    International Nuclear Information System (INIS)

    Hechanova, A.E.

    2001-01-01

    The Nevada Risk Assessment/Management Program is part of a national effort by the U.S. Department of Energy (Grant DE-FG01-96EW56093) to develop new sources of information and approaches to risk assessment, risk management, risk communication and public outreach as these objectives relate to the ecological and human health effects of radioactive and hazardous material management and site remediation activities. This paper reviews the innovation behind the Nevada Risk Assessment/Management Program and presents a synopsis of the effort that began in 1995 and will officially conclude on April 30, 2000. (author)

  1. Integrated Risk Management Within NASA Programs/Projects

    Science.gov (United States)

    Connley, Warren; Rad, Adrian; Botzum, Stephen

    2004-01-01

    As NASA Project Risk Management activities continue to evolve, the need to successfully integrate risk management processes across the life cycle, between functional disciplines, stakeholders, various management policies, and within cost, schedule and performance requirements/constraints become more evident and important. Today's programs and projects are complex undertakings that include a myriad of processes, tools, techniques, management arrangements and other variables all of which must function together in order to achieve mission success. The perception and impact of risk may vary significantly among stakeholders and may influence decisions that may have unintended consequences on the project during a future phase of the life cycle. In these cases, risks may be unintentionally and/or arbitrarily transferred to others without the benefit of a comprehensive systemic risk assessment. Integrating risk across people, processes, and project requirements/constraints serves to enhance decisions, strengthen communication pathways, and reinforce the ability of the project team to identify and manage risks across the broad spectrum of project management responsibilities. The ability to identify risks in all areas of project management increases the likelihood a project will identify significant issues before they become problems and allows projects to make effective and efficient use of shrinking resources. By getting a total team integrated risk effort, applying a disciplined and rigorous process, along with understanding project requirements/constraints provides the opportunity for more effective risk management. Applying an integrated approach to risk management makes it possible to do a better job at balancing safety, cost, schedule, operational performance and other elements of risk. This paper will examine how people, processes, and project requirements/constraints can be integrated across the project lifecycle for better risk management and ultimately improve the

  2. Flood risk management in the Souss watershed

    Science.gov (United States)

    Bouaakkaz, Brahim; El Abidine El Morjani, Zine; Bouchaou, Lhoussaine; Elhimri, Hamza

    2018-05-01

    Flooding is the most devasting natural hazards that causes more damage throughout the world. In 2016, for the fourth year in a row, it was the most costly natural disaster, in terms of global economic losses: 62 billion, according to a Benfield's 2016 annual report on climate and natural disasters [1]. The semi-arid to arid Souss watershed is vulnerable to floods, whose the intensity is becoming increasingly alarming and this area does not escape to the effects of this extreme event.. Indeed, the susceptibility of this region to this type of hazard is accentuated by its rapid evolution in terms of demography, uncontrolled land use, anthropogenic actions (uncontrolled urbanization, encroachment of the hydraulic public domain, overgrazing, clearing and deforestation).), and physical behavior of the environment (higher slope, impermeable rocks, etc.). It is in this context, that we have developed a strategic plan of action to manage this risk in the Souss basin in order to reduce the human, economic and environmental losses, after the modeling of the flood hazard in the study area, using georeferenced information systems (GIS), satellite remote sensing space and multi-criteria analysis techniques, as well as the history of major floods. This study, which generated the high resolution 30m flood hazard spatial distribution map of with accuracy of 85%, represents a decision tool to identify and prioririze area with high probability of hazard occurrence. It can also serve as a basis for urban evacuation plans for anticipating and preventing flood risk in the region, in order to ovoid any dramatic disaster.

  3. Managing IT Integration Risk in Acquisitions

    DEFF Research Database (Denmark)

    Henningsson, Stefan; Kettinger, William J.

    2016-01-01

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

  4. Strategies for successful software development risk management

    Directory of Open Access Journals (Sweden)

    Marija Boban

    2003-01-01

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

  5. Value-oriented risk management of insurance companies

    CERN Document Server

    Kriele, Marcus

    2014-01-01

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

  6. Integrated supply chain risk management

    Directory of Open Access Journals (Sweden)

    Riaan Bredell

    2007-11-01

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

  7. Corporate risk management : an overview

    NARCIS (Netherlands)

    Oosterhof, Casper M.

    2001-01-01

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

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

    International Nuclear Information System (INIS)

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

    1994-02-01

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

  9. Overview of Risk Management for Engineered Nanomaterials

    Science.gov (United States)

    Schulte, P. A.; Geraci, C. L.; Hodson, L. L.; Zumwalde, R. D.; Kuempel, E. D.; Murashov, V.; Martinez, K. F.; Heidel, D. S.

    2013-04-01

    Occupational exposure to engineered nanomaterials (ENMs) is considered a new and challenging occurrence. Preliminary information from laboratory studies indicates that workers exposed to some kinds of ENMs could be at risk of adverse health effects. To protect the nanomaterial workforce, a precautionary risk management approach is warranted and given the newness of ENMs and emergence of nanotechnology, a naturalistic view of risk management is useful. Employers have the primary responsibility for providing a safe and healthy workplace. This is achieved by identifying and managing risks which include recognition of hazards, assessing exposures, characterizing actual risk, and implementing measures to control those risks. Following traditional risk management models for nanomaterials is challenging because of uncertainties about the nature of hazards, issues in exposure assessment, questions about appropriate control methods, and lack of occupational exposure limits (OELs) or nano-specific regulations. In the absence of OELs specific for nanomaterials, a precautionary approach has been recommended in many countries. The precautionary approach entails minimizing exposures by using engineering controls and personal protective equipment (PPE). Generally, risk management utilizes the hierarchy of controls. Ideally, risk management for nanomaterials should be part of an enterprise-wide risk management program or system and this should include both risk control and a medical surveillance program that assesses the frequency of adverse effects among groups of workers exposed to nanomaterials. In some cases, the medical surveillance could include medical screening of individual workers to detect early signs of work-related illnesses. All medical surveillance should be used to assess the effectiveness of risk management; however, medical surveillance should be considered as a second line of defense to ensure that implemented risk management practices are effective.

  10. Overview of Risk Management for Engineered Nanomaterials

    International Nuclear Information System (INIS)

    Schulte, P A; Geraci, C L; Hodson, L L; Zumwalde, R D; Kuempel, E D; Murashov, V; Martinez, K F; Heidel, D S

    2013-01-01

    Occupational exposure to engineered nanomaterials (ENMs) is considered a new and challenging occurrence. Preliminary information from laboratory studies indicates that workers exposed to some kinds of ENMs could be at risk of adverse health effects. To protect the nanomaterial workforce, a precautionary risk management approach is warranted and given the newness of ENMs and emergence of nanotechnology, a naturalistic view of risk management is useful. Employers have the primary responsibility for providing a safe and healthy workplace. This is achieved by identifying and managing risks which include recognition of hazards, assessing exposures, characterizing actual risk, and implementing measures to control those risks. Following traditional risk management models for nanomaterials is challenging because of uncertainties about the nature of hazards, issues in exposure assessment, questions about appropriate control methods, and lack of occupational exposure limits (OELs) or nano-specific regulations. In the absence of OELs specific for nanomaterials, a precautionary approach has been recommended in many countries. The precautionary approach entails minimizing exposures by using engineering controls and personal protective equipment (PPE). Generally, risk management utilizes the hierarchy of controls. Ideally, risk management for nanomaterials should be part of an enterprise-wide risk management program or system and this should include both risk control and a medical surveillance program that assesses the frequency of adverse effects among groups of workers exposed to nanomaterials. In some cases, the medical surveillance could include medical screening of individual workers to detect early signs of work-related illnesses. All medical surveillance should be used to assess the effectiveness of risk management; however, medical surveillance should be considered as a second line of defense to ensure that implemented risk management practices are effective.

  11. Risk management on nuclear power plant. Application of probabilistic risk assessment

    International Nuclear Information System (INIS)

    Kojima, Shigeo

    2003-01-01

    In U.S.A., nuclear safety regulation is moving to risk-informed regulation (RIR), so necessity of a standard to provide contents of probabilistic risk assessment (PRA) constructing its roots has been discussed for a long time. In 1998, the Committee on Nuclear Risk Management (CNRM) of the American Society of Mechanical Engineers (ASME) began to investigate the standard, of which last edition was published as the Standard for Probabilistic Risk Management for Nuclear Power Plant Applications: RA-S-2002 (PRMA) on April, 2002. As in the Committee, the Nuclear Regulatory Commission (NRC), electric power companies, national institutes, PRA specialists, and so on took parts to carry out many discussions with full energies of participants on risk management in U.S.A., the standard was finished after about four years' efforts. In U.S.A., risk management having already used PRA is successfully practiced, U.S.A. is at a stage with more advancing steps of the risk management than Japan is. Here was described on the standard of PRA and a concrete method of the risk management carried out at nuclear power stations. (G.K.)

  12. Data management implementation plan for the Bear Creek Valley treatability study phase 2 hydraulic performance testing, Oak Ridge Y-12 Plant, Oak Ridge, Tennessee

    International Nuclear Information System (INIS)

    1997-12-01

    The overall objective of the Bear Creek Valley treatability study is to provide site-specific data defining potential treatment technologies applicable to contaminated groundwater and surface water. The ultimate goal of this effort is to install a treatment system that will remove uranium, technetium, nitrate, and several metals from groundwater before it reaches Bear Creek. This project, the Bear Creek Valley treatability study Phase 2 hydraulic performance testing, directly supports the Bear Creek Valley Feasibility Study. Specific project objectives include (1) installing monitoring and extraction wells, (2) installing a groundwater extraction trench, (3) performing pumping tests of the extraction wells and trench, (4) determining hydraulic gradients, and (5) collecting water quality parameters. The primary purpose of environmental data management is to provide a system for generating and maintaining technically defensible data. To meet current regulatory requirements for the Environmental Restoration Program, complete documentation of the information flow must be established. To do so, each step in the data management process (collection, management, storage, and analysis) must be adequately planned and documented. This document will serve to identify data management procedures, expected data types and flow, and roles and responsibilities for all data management activities associated with this project

  13. Risk management in facility transition and management decision making: Needs and opportunities

    International Nuclear Information System (INIS)

    Stillwell, W.; Seaver, D.; Keller, J.; Smith, D.; Weaver, D.; Sanders, T.; Thullen, P.

    1993-02-01

    An overall approach to risk management is described in this paper. Many of these concepts have been developed and applied as part of Hanford Mission Planning (HMP) (Hanford Mission Plan, 1992). At Hanford, HMP provides a mechanism for integrating planning across all the missions and programs of the site. This paper discusses the decision context within which EM must make and defend decisions, the types of decisions that are being and will need to be made in order to progress with the cleanup of the DOE complex, and the resulting need for risk management. Risk management, in turn, requires quality health and ecological risk information to make these decisions. Other types of information are also needed, but the risk information is typically the most important and the most difficult to obtain. The paper then describes a general technical approach to risk management, including particular methods for developing the high quality of human health and ecological risk information that will be needed to support risk management. We next turn to several special issues that make risk management more complex than many other decisions. We discuss these issues and offer some practical suggestions with respect to addressing them in the risk management framework. Finally, we conclude with some discussion of other opportunities for applying risk management

  14. Managing Risks in Dry Port Operations

    OpenAIRE

    Ciortescu Cezar-Gabriel; Pãvãla?cu Narcis Sebastian

    2012-01-01

    The purpose of this paper is to have an in-depth look into the phenomenon of risk assessment and risk management strategies in managing dry port operations as an integrated part into international containerized freight trade. The fact that world crises take the form of disruptions, bankruptcies, breakdowns, macroeconomic and political changes, and disasters leads to higher risks and makes risk management more and more difficult. This paper aims to discuss the theory behind the dry port concep...

  15. Management of radiation risk

    International Nuclear Information System (INIS)

    Hubert, P.

    1996-01-01

    The need to control the risk from ionizing radiation can be tracked back to the eve of the twentieth century. However, as knowledge improved and practices expanded, the approaches to this control have evolved. No longer is the mere respect of some forms of exposure limits or safety related standards sufficient. Rather, it is widely admitted that there is a need for managing radiation risk, both by balancing the advantages and disadvantages of enhancing protection and by setting up a proper organization that allows handling of the risk. This paper describes the multiple aspects of radiation risk management and points out the main related issues. It critically analyzes ALARA and ICRP recommendations. 74 refs, 8 figs, 5 tabs

  16. Software And Systems Engineering Risk Management

    Science.gov (United States)

    2010-04-01

    RSKM 2004 COSO Enterprise RSKM Framework 2006 ISO/IEC 16085 Risk Management Process 2008 ISO/IEC 12207 Software Lifecycle Processes 2009 ISO/IEC...1 Software And Systems Engineering Risk Management John Walz VP Technical and Conferences Activities, IEEE Computer Society Vice-Chair Planning...Software & Systems Engineering Standards Committee, IEEE Computer Society US TAG to ISO TMB Risk Management Working Group Systems and Software

  17. The Professionalization of Risk Management: What Role can the ISO 31000 Risk Management Principles Play?

    DEFF Research Database (Denmark)

    Olechowski, Alison; Oehmen, Josef; Seering, W.

    2016-01-01

    an empirical investigation and discussion of the eleven principles of the ISO 31000:2009 Risk Management Standard via a large-scale survey of engineering and product development practitioners. Adhering to the risk management principles at a high level was found to be a significant factor in better reaching......Risk management is increasingly seen as a means of improving the likelihood of success in complex engineering projects. Yet the presence of a legitimacy gap, driven by the lack of empirical validation of published best practices, might explain low adoption of risk management on projects. We present...... cost, schedule, technical and customer targets, in addition to achieving a more stable project execution. This finding suggests that, rather than a single rigid standard or an ever-changing set of detailed methods, the ISO principles have potential to be the basis for our shared understanding of best...

  18. Hydraulic turbines

    International Nuclear Information System (INIS)

    Meluk O, G.

    1998-01-01

    The hydraulic turbines are defined according to the specific speed, in impulse turbines and in reaction turbines. Currently, the Pelton turbines (of impulse) and the Francis and Kaplan turbines (of reaction), they are the most important machines in the hydroelectric generation. The hydraulic turbines are capable of generating in short times, large powers, from its loads zero until the total load and reject the load instantly without producing damages in the operation. When the hydraulic resources are important, the hydraulic turbines are converted in the axle of the electric system. Its combination with thermoelectric generation systems, it allow the continuing supply of the variations in demand of energy system. The available hydraulic resource in Colombia is of 93085 MW, of which solely 9% is exploited, become 79% of all the electrical country generation, 21% remaining is provided by means of the thermoelectric generation

  19. Identifying and Managing Risk.

    Science.gov (United States)

    Abraham, Janice M.

    1999-01-01

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

  20. RISKS MANAGEMENT: NEW LITERATURE REVIEW

    OpenAIRE

    Ennouri Wissem

    2013-01-01

    The complexity of the industrial activities and the important mass of flows crossing the supply chain promotes the emergence of risks that must be considered in the decision process. For this reason, we have developed this paper to clarify the basics of risk management through a short new suggestion of literature review for risk management. Our justification of this attempt is that this area is the most discussed in our days and it is impossible to present all definition of the risk concept, ...

  1. Method of Relating Grain Size Distribution to Hydraulic Conductivity in Dune Sands to Assist in Assessing Managed Aquifer Recharge Projects: Wadi Khulays Dune Field, Western Saudi Arabia

    Directory of Open Access Journals (Sweden)

    Oliver M. Lopez

    2015-11-01

    Full Text Available Planning for use of a dune field aquifer for managed aquifer recharge (MAR requires that hydraulic properties need to be estimated over a large geographic area. Saturated hydraulic conductivity of dune sands is commonly estimated from grain size distribution data by employing some type of empirical equation. Over 50 samples from the Wadi Khulays dune field in Western Saudi Arabia were collected and the grain size distribution, porosity, and hydraulic conductivity were measured. An evaluation of 20 existing empirical equations showed a generally high degree of error in the predicted compared to the measured hydraulic conductivity values of these samples. Statistical analyses comparing estimated versus measured hydraulic conductivity demonstrated that there is a significant relationship between hydraulic conductivity and mud percentage (and skewness. The modified Beyer equation, which showed a generally low prediction error, was modified by adding a second term fitting parameter related to the mud concentration based on 25 of the 50 samples analyzed. An inverse optimization process was conducted to quantify the fitting parameter and a new empirical equation was developed. This equation was tested against the remaining 25 samples analyzed and produced an estimated saturated hydraulic conductivity with the lowest error of any empirical equation. This methodology can be used for large dune field hydraulic conductivity estimation and reduce planning costs for MAR systems.

  2. Method of Relating Grain Size Distribution to Hydraulic Conductivity in Dune Sands to Assist in Assessing Managed Aquifer Recharge Projects: Wadi Khulays Dune Field, Western Saudi Arabia

    KAUST Repository

    Lopez Valencia, Oliver Miguel

    2015-11-12

    Planning for use of a dune field aquifer for managed aquifer recharge (MAR) requires that hydraulic properties need to be estimated over a large geographic area. Saturated hydraulic conductivity of dune sands is commonly estimated from grain size distribution data by employing some type of empirical equation. Over 50 samples from the Wadi Khulays dune field in Western Saudi Arabia were collected and the grain size distribution, porosity, and hydraulic conductivity were measured. An evaluation of 20 existing empirical equations showed a generally high degree of error in the predicted compared to the measured hydraulic conductivity values of these samples. Statistical analyses comparing estimated versus measured hydraulic conductivity demonstrated that there is a significant relationship between hydraulic conductivity and mud percentage (and skewness). The modified Beyer equation, which showed a generally low prediction error, was modified by adding a second term fitting parameter related to the mud concentration based on 25 of the 50 samples analyzed. An inverse optimization process was conducted to quantify the fitting parameter and a new empirical equation was developed. This equation was tested against the remaining 25 samples analyzed and produced an estimated saturated hydraulic conductivity with the lowest error of any empirical equation. This methodology can be used for large dune field hydraulic conductivity estimation and reduce planning costs for MAR systems.

  3. Cognitive mapping tools: review and risk management needs.

    Science.gov (United States)

    Wood, Matthew D; Bostrom, Ann; Bridges, Todd; Linkov, Igor

    2012-08-01

    Risk managers are increasingly interested in incorporating stakeholder beliefs and other human factors into the planning process. Effective risk assessment and management requires understanding perceptions and beliefs of involved stakeholders, and how these beliefs give rise to actions that influence risk management decisions. Formal analyses of risk manager and stakeholder cognitions represent an important first step. Techniques for diagramming stakeholder mental models provide one tool for risk managers to better understand stakeholder beliefs and perceptions concerning risk, and to leverage this new understanding in developing risk management strategies. This article reviews three methodologies for assessing and diagramming stakeholder mental models--decision-analysis-based mental modeling, concept mapping, and semantic web analysis--and assesses them with regard to their ability to address risk manager needs. © 2012 Society for Risk Analysis.

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

    Science.gov (United States)

    Karadsheh, Louay A.

    2010-01-01

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

  5. Value at Risk models for Energy Risk Management

    OpenAIRE

    Novák, Martin

    2010-01-01

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

  6. Risk management in a university environment.

    Science.gov (United States)

    Brewer, Ann; Walker, Ian

    2011-06-01

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

  7. Selecting Copulas for Risk Management

    NARCIS (Netherlands)

    H.J.W.G. Kole (Erik); C.G. Koedijk (Kees); M.J.C.M. Verbeek (Marno)

    2006-01-01

    textabstractCopulas offer financial risk managers a powerful tool to model the dependence between the different elements of a portfolio and are preferable to the traditional, correlation-based approach. In this paper we show the importance of selecting an accurate copula for risk management. We

  8. Risk Management for the International Space Station

    Science.gov (United States)

    Sebastian, J.; Brezovic, Philip

    2002-01-01

    The International Space Station (ISS) is an extremely complex system, both technically and programmatically. The Space Station must support a wide range of payloads and missions. It must be launched in numerous launch packages and be safely assembled and operated in the harsh environment of space. It is being designed and manufactured by many organizations, including the prime contractor, Boeing, the NASA institutions, and international partners and their contractors. Finally, the ISS has multiple customers, (e.g., the Administration, Congress, users, public, international partners, etc.) with contrasting needs and constraints. It is the ISS Risk Management Office strategy to proactively and systematically manages risks to help ensure ISS Program success. ISS program follows integrated risk management process (both quantitative and qualitative) and is integrated into ISS project management. The process and tools are simple and seamless and permeate to the lowest levels (at a level where effective management can be realized) and follows the continuous risk management methodology. The risk process assesses continually what could go wrong (risks), determine which risks need to be managed, implement strategies to deal with those risks, and measure effectiveness of the implemented strategies. The process integrates all facets of risk including cost, schedule and technical aspects. Support analysis risk tools like PRA are used to support programatic decisions and assist in analyzing risks.

  9. Risk management method for small photovoltaic plants

    Directory of Open Access Journals (Sweden)

    Kirova Milena

    2016-09-01

    Full Text Available Risk management is necessary for achieving the goals of the organization. There are many methods, approaches, and instruments in the literature concerning risk management. However, these are often highly specialized and transferring them to a different field can prove difficult. Therefore, managers often face situations where they have no tools to use for risk management. This is the case with small photovoltaic plants (according to a definition by the Bulgarian State Energy and Water Regulatory Commission small applies to systems with a total installed power of 200 kWp. There are some good practices in the energy field for minimizing risks, but they offer only partial risk prevention and are not sufficient. Therefore a new risk management method needs to be introduced. Small photovoltaic plants offer plenty of advantages in comparison to the other renewable energy sources which makes risk management in their case more important. There is no classification of risks for the exploitation of small photovoltaic systems in the available literature as well as to what degree the damages from those risks could spread. This makes risk analysis and evaluation necessary for obtaining information which could aid taking decisions for improving risk management. The owner of the invested capital takes a decision regarding the degree of acceptable risk for his organization and it must be protected depending on the goals set. Investors in small photovoltaic systems need to decide to what degree the existing risks can influence the goals previously set, the payback of the investment, and what is the acceptable level of damages for the investor. The purpose of this work is to present a risk management method, which currently does not exist in the Bulgaria, so that the risks and the damages that could occur during the exploitation of small photovoltaic plants could be identified and the investment in such technology – justified.

  10. Probabilistic flood inundation mapping at ungauged streams due to roughness coefficient uncertainty in hydraulic modelling

    Science.gov (United States)

    Papaioannou, George; Vasiliades, Lampros; Loukas, Athanasios; Aronica, Giuseppe T.

    2017-04-01

    Probabilistic flood inundation mapping is performed and analysed at the ungauged Xerias stream reach, Volos, Greece. The study evaluates the uncertainty introduced by the roughness coefficient values on hydraulic models in flood inundation modelling and mapping. The well-established one-dimensional (1-D) hydraulic model, HEC-RAS is selected and linked to Monte-Carlo simulations of hydraulic roughness. Terrestrial Laser Scanner data have been used to produce a high quality DEM for input data uncertainty minimisation and to improve determination accuracy on stream channel topography required by the hydraulic model. Initial Manning's n roughness coefficient values are based on pebble count field surveys and empirical formulas. Various theoretical probability distributions are fitted and evaluated on their accuracy to represent the estimated roughness values. Finally, Latin Hypercube Sampling has been used for generation of different sets of Manning roughness values and flood inundation probability maps have been created with the use of Monte Carlo simulations. Historical flood extent data, from an extreme historical flash flood event, are used for validation of the method. The calibration process is based on a binary wet-dry reasoning with the use of Median Absolute Percentage Error evaluation metric. The results show that the proposed procedure supports probabilistic flood hazard mapping at ungauged rivers and provides water resources managers with valuable information for planning and implementing flood risk mitigation strategies.

  11. Modeling and stability of electro-hydraulic servo of hydraulic excavator

    Science.gov (United States)

    Jia, Wenhua; Yin, Chenbo; Li, Guo; Sun, Menghui

    2017-11-01

    The condition of the hydraulic excavator is complicated and the working environment is bad. The safety and stability of the control system is influenced by the external factors. This paper selects hydraulic excavator electro-hydraulic servo system as the research object. A mathematical model and simulation model using AMESIM of servo system is established. Then the pressure and flow characteristics are analyzed. The design and optimization of electro-hydraulic servo system and its application in engineering machinery is provided.

  12. 12 CFR 704.6 - Credit risk management.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Credit risk management. 704.6 Section 704.6... CREDIT UNIONS § 704.6 Credit risk management. (a) Policies. A corporate credit union must operate according to a credit risk management policy that is commensurate with the investment risks and activities...

  13. Design of emergency plans due to the failure risk of hydraulic works - Theory and case study

    International Nuclear Information System (INIS)

    Ochoa Rivera, Juan Camilo

    2006-01-01

    Dams are built to be highly safe hydraulic works. Nevertheless, they are not exempt from a certain failure risk, which turns in a variable value along the time service of the dam. As the mentioned dam-failure risk can be a significant hazard, analysis on dam-break is becoming important, as same as the assessment of its consequences. This type of studies are intended to reduce the costs linked to dam-failure, which are mainly due to the losses of human beings and material goods. A suitable way to minimize such losses consists of designing emergency plans, which permit to prepare and implant appropriate protection measures. A methodological framework to carry out this kind of emergency plans is introduced in this paper, accompanied by a case study corresponding to an emergency plan of a Spanish dam

  14. 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.

  15. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

    outcomes. This topic is timely and of interest both to the academic community as well as to practicing managers, executives, and directors. The volume focuses on contemporary risk leadership issues based on recent research insights but avoids excessive technical language and mathematical formulas. The book...... is framed around the challenges imposed on executives and directors in dealing with an increasingly complex and unpredictable world. This requires a new risk leadership focus that not only avoids the downside risks but also considers ways to exploit the upside potential offered by a dynamic environment....... The underlying logic is built on the principles of financial economics where benefits derive from reducing bankruptcy costs and increasing future cash inflows. This provides a stringent framework for analyzing the effect of different risk management actions and behaviors in effective risk-taking organizations...

  16. Tailoring Risk Management in Design

    DEFF Research Database (Denmark)

    Tegeltija, M.; Oehmen, J.; McMahon, C. A.

    2018-01-01

    While risk quantification research has grown over the last few decades, only a limited number of studies have addressed the overall process integration of these approaches in design risk management. This paper argues that the choice of risk quantification method has strong implications for several...... process aspects. We investigate current risk management maturity models and suggest an expansion to accommodate requirements originating from the choice of quantification method, and to inform the choice of quantification method, based on other process parameters, validated through 3 case companies....

  17. 76 FR 45724 - Clearing Member Risk Management

    Science.gov (United States)

    2011-08-01

    ... proposed rules address risk management for cleared trades by futures commission merchants, swap dealers... Commission has proposed extensive regulations addressing open access and risk management at the derivatives..., 2011) (Risk Management Requirements for Derivatives Clearing Organizations). These proposed regulations...

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

    International Nuclear Information System (INIS)

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

    1997-01-01

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

  19. 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

  20. 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.

  1. Risk Management for Point-of-Care Testing

    OpenAIRE

    James, H. Nichols

    2014-01-01

    Point-of-care testing (POCT) is growing in popularity, and with this growth comes an increased chance of errors. Risk management is a way to reduce errors. Originally developed for the manufacturing industry, risk management principles have application for improving the quality of test results in the clinical laboratory. The Clinical and Laboratory Standards Institute (CLSI), EP23-A Laboratory Quality Control based on Risk Management guideline, introduces risk management to the clinical labor...

  2. Risk management for noncombustion wastes

    International Nuclear Information System (INIS)

    Connor, K.K.; Rice, J.S.

    1991-01-01

    The Noncombustion Waste Risk Management Project is designed to incorporate the insights and information developed in these projects into tools that will help utilities make better noncombustion waste management decisions. Specific project goals are to synthesize information useful to utilities on noncombustion wastes, emphasize waste reduction as a priority over end-of-pipe management, develop methods to manage the costs and risks associated with noncombustion wastes (e.g., direct costs, permitting costs, liability costs, public relations costs), develop software and documentation to deliver the information and analysis methods to the industry. This project was initiated EPRI's Environment Division in late 1988. The early phases of the project involved gathering information on current noncombustion waste management practices, specific utility problems and concerns with respect to these wastes, current and potential future regulations, and current and emerging management options. Recent efforts have focused on characterizing the direct and indirect (e.g., lawsuits, remedial action) costs of managing these wastes and on developing and implementing risk management methods for a subset of wastes. The remainder of this paper describes the specific issues addressed by and the results and insights from the three completed waste-specific studies

  3. Continuous Risk Management: A NASA Program Initiative

    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.

  4. A risk-mitigation approach to the management of induced seismicity

    Science.gov (United States)

    Bommer, Julian J.; Crowley, Helen; Pinho, Rui

    2015-04-01

    Earthquakes may be induced by a wide range of anthropogenic activities such as mining, fluid injection and extraction, and hydraulic fracturing. In recent years, the increased occurrence of induced seismicity and the impact of some of these earthquakes on the built environment have heightened both public concern and regulatory scrutiny, motivating the need for a framework for the management of induced seismicity. Efforts to develop systems to enable control of seismicity have not yet resulted in solutions that can be applied with confidence in most cases. The more rational approach proposed herein is based on applying the same risk quantification and mitigation measures that are applied to the hazard from natural seismicity. This framework allows informed decision-making regarding the conduct of anthropogenic activities that may cause earthquakes. The consequent risk, if related to non-structural damage (when re-location is not an option), can be addressed by appropriate financial compensation. If the risk poses a threat to life and limb, then it may be reduced through the application of strengthening measures in the built environment—the cost of which can be balanced against the economic benefits of the activity in question—rather than attempting to ensure that some threshold on earthquake magnitude or ground-shaking amplitude is not exceeded. However, because of the specific characteristics of induced earthquakes—which may occur in regions with little or no natural seismicity—the procedures used in standard earthquake engineering need adaptation and modification for application to induced seismicity.

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

    African Journals Online (AJOL)

    Using a quantitative approach the findings of the study are that Ghanaian firms understand risk and risk management. Additionally, operational, liquidity and credit risk are the most dominant risks experienced while risk identification and selection jointly determine risk management practices in Ghana. Based on the findings ...

  6. RISK MANAGEMENT APPROACHES AND PRACTICES IN IT PROJECTS

    Directory of Open Access Journals (Sweden)

    BRANDAS Claudiu

    2012-07-01

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

  7. Scope of environmental risk management

    Energy Technology Data Exchange (ETDEWEB)

    O' Riordan, T

    1979-01-01

    Environmental risk management embraces three techniques for project appraisal: cost/benefit analysis, environmental impact analysis and risk assessment. It also explicitly relates scientific investigations to political judgments, sometimes so closely that the two cannot be separated. Indeed it is now apparent that environmental risk management encompasses procedures both to review the relative merits and priorities of policies as well as to appraise the environmental risks of particular schemes. Until recently this relationship has not been fully appreciated, so much imagination and innovation is still required to develop the most-suitable mechanisms for review.

  8. Risk Management in the Agri-food Sector

    Directory of Open Access Journals (Sweden)

    Hrabrin Bachev

    2013-03-01

    Full Text Available This paper incorporates the interdisciplinary New Institutional Economics in a comprehensive framework for analyzing risk management in the agri-food sector. First, it specifies the diverse types of agri-food risks (natural, technical, behavioral, economic, policy, etc. and the modes of their management (market, private, public, and hybrid. Second, it defines the efficiency of risk management and identifies the factors (personal, institutional, dimensional, technological, and natural of governance choice. Next, it presents stages in the analysis of risk management and the improvement of public intervention in the governance of risk. Finally, it identifies the contemporary opportunities and challenges for risk governance in the agri-food chain.

  9. Managing total corporate electricity/energy market risks

    International Nuclear Information System (INIS)

    Henney, A.; Keers, G.

    1998-01-01

    The banking industry has developed a tool kit of very useful value at risk techniques for hedging risk, but these techniques must be adapted to the special complexities of the electricity market. This paper starts with a short history of the use of value-at-risk (VAR) techniques in banking risk management and then examines the specific and, in many instances, complex risk management challenges faced by electric companies from the behavior of prices in electricity markets and from the character of generation and electric retailing risks. The third section describes the main methods for making VAR calculations along with an analysis of their suitability for analyzing the risks of electricity portfolios and the case for using profit at risk and downside risk as measures of risk. The final section draws the threads together and explains how to look at managing total corporate electricity market risk, which is a big step toward managing total corporate energy market risk

  10. Improving Operational Risk Management Using Business Performance Management Technologies

    Directory of Open Access Journals (Sweden)

    Bram Pieket Weeserik

    2018-02-01

    Full Text Available 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 technologies including: work flow, data warehousing, (advanced analytics, reporting and dashboards. BPM technologies can be integrated with an organization’s Planning & Control cycle and related to strategic objectives. This manuscript aims to show how ORM can benefit from BPM technologies via the development and practical validation of a new maturity model. The B4ORM maturity model was developed following the Design Science Research approach. The maturity model relates specific maturity levels of ORM processes with BPM technologies applicable for a specific maturity stage. There appears to be a strong relationship (0.78 with ORM process maturity and supporting BPM technologies. The B4ORM maturity model as described in this manuscript provides an ideal path of BPM technologies related to six distinctive stages of ORM, leading towards technologies suitable for continuous improvement of ORM processes and organization-wide integration.

  11. Internal audit risk management in metropolitan municipalities

    Directory of Open Access Journals (Sweden)

    Christo Ackermann

    2016-07-01

    Full Text Available Internal audit functions (IAFs of organisations are regarded as crucial components of the combined assurance model, alongside the audit committee, management and external auditors. The combined assurance model aims at having integrated and aligned assurance in organisations with the overall aim of maximising risk and governance oversight and control efficiencies. In this regard, internal audit plays a crucial role, insofar as it consists of experts in risk, governance and control consultancy who provide assurance to senior management and the audit committee. Audit committees are dependent on internal audit for information and their effectiveness revolves around a strong and well-resourced internal audit function which is able to aid audit committees to meet their oversight responsibilities. There is thus a growing demand for managing risk through the process of risk management and internal audit is in a perfect position to assist with the improvement of such processes. If internal auditors wish to continue being an important aspect of the combined assurance model, they need to address the critical area, amongst others, of risk management as part of their work. If not, it follows that the board, audit committees and other levels of management will remain uninformed on the status of these matters which, in turn, will negatively impact the ability of these stakeholders to discharge their responsibilities. This study therefore focuses on analysing the functioning of IAFs, with specific reference to their risk management mandate. The study followed a mixed method approach to describe internal audits risk management functioning in the big eight metropolitan municipalities in South Africa. The results show that internal audit provide a broad scope of risk management work which assist senior management in the discharge of their responsibilities. However, in the public eye, internal audits risk management functioning is scant

  12. Active Risk Management and Banking Stability

    NARCIS (Netherlands)

    Silva Buston, C.F.

    2013-01-01

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

  13. The advantages of hydraulic packing extraction

    International Nuclear Information System (INIS)

    Baker, R.S.

    1991-01-01

    Today's competitive environment, coupled with industry's desire to improve the efficiency of plant maintenance and operations, has management continually seeking ways to save time, money, and, at nuclear plants, radiation exposure. One area where a tremendous improvement in efficiency can be realized is valve packing removal. For example, industry experience indicates that up to 70% of the time it takes to repack a valve can be spent just removing the old packing. In some case, the bonnets of small valves are removed to facilitate packing removal and prevent stem and stuffing box damage that can occur when using packing removal picks. In other cases, small valves are simply removed and discarded because it costs less to replace the valves than to remove the packing using conventional methods. Hydraulic packing extraction greatly reduces packing removal time and will not damage the stem nor stuffing box, thus eliminating the need for bonnet removal or valve replacement. This paper will review some of the more common problems associated with manual packing extraction techniques. It will explain how hydraulic packing extraction eliminates or greatly reduces the impact of each of the problem areas. A discussion will be provided of some actual industry operating experiences related to success stories using hydraulic packing extraction. The paper will also briefly describe the operating parameters associated with hydraulic packing extraction tools. Throughout the paper, actual operating experiences from the nuclear power, fossil power, petrochemical, and refinery industries will be used to support the conclusion that hydraulic packing extraction is an alternative that can save time, money, and exposure

  14. The process of Risk management for E-business

    Directory of Open Access Journals (Sweden)

    Erion Lekaj

    2017-07-01

    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 an 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 soft ware.

  15. Model of Axiological Dimension Risk Management

    Directory of Open Access Journals (Sweden)

    Kulińska Ewa

    2016-01-01

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

  16. Information risk management a practitioner's guide

    CERN Document Server

    Sutton, David

    2014-01-01

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

  17. CEA - Assessment of risk management 2013

    International Nuclear Information System (INIS)

    Bigot, Bernard; Bonnevie, Edwige; Maillot, Bernard

    2014-06-01

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

  18. Hydraulic design of Three Gorges right bank powerhouse turbine for improvement of hydraulic stability

    International Nuclear Information System (INIS)

    Shi, Q

    2010-01-01

    This paper presents the hydraulic design of Three Gorges Right Bank Powerhouse turbine for improvement of hydraulic stability. The technical challenges faced in the hydraulic design of the turbine are given. The method of hydraulic design for improving the hydraulic stability and particularly for eliminating the upper part load pressure pulsations is clarified. The final hydraulic design results of Three Gorges Right Bank Powerhouse turbine based on modern hydraulic design techniques are presented.

  19. Hydraulic design of Three Gorges right bank powerhouse turbine for improvement of hydraulic stability

    Energy Technology Data Exchange (ETDEWEB)

    Shi, Q, E-mail: qhshi@dfem.com.c [Dong Fang Electrical Machinery Co., Ltd., DEC 188, Huanghe West Road, Deyang, 618000 (China)

    2010-08-15

    This paper presents the hydraulic design of Three Gorges Right Bank Powerhouse turbine for improvement of hydraulic stability. The technical challenges faced in the hydraulic design of the turbine are given. The method of hydraulic design for improving the hydraulic stability and particularly for eliminating the upper part load pressure pulsations is clarified. The final hydraulic design results of Three Gorges Right Bank Powerhouse turbine based on modern hydraulic design techniques are presented.

  20. COORDINATES OF A RISK MANAGEMENT PROJECT

    Directory of Open Access Journals (Sweden)

    ALEXANDRU OLTEANU

    2013-05-01

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

  1. Methods of assessment and management of enterprise risks

    Directory of Open Access Journals (Sweden)

    I. A. Kiseleva

    2017-01-01

    Full Text Available The article is devoted to the actual topic of our time – the management of business risks. An integral part of professional risk management is to identify the nature of the object of management in the sphere of economy. Since the domestic theory of risk management is under development, the problem of a clear comprehensive definition of risk becomes now of particular relevance. The article discusses the basic concepts of risk management; studied its components in the business activities; reflected system and risk management principles; The basic types of risks in business. A organizational and economic mechanism of enterprise risk assessment. Practical advice on risk management. Entrepreneurship without risk does not exist. With the development of market economy the specific entrepreneur determines the methods that will work, and they all lead to entrepreneurial risks. The level of threats on the market today, above the level of potential profits. It is concluded that it is impossible to increase revenue without increasing the risk or reduce risk without reducing income. The lower range of the probability distribution of expected returns relative to its mean value, the lower the risk associated with this operation. Avoid risk in business is almost impossible, but you can reduce this risk. And it depends on how professionally and correctly operates the entrepreneur, what kind of strategy he will choose to reduce the appearance of risk.

  2. Managing Risk to the Patient: Recoding Quality Risk Management for the Pharmaceutical and Biopharmaceutical Industries

    OpenAIRE

    Waldron, Kelly

    2017-01-01

    This thesis explores the application of quality risk management (QRM) in pharmaceutical and biopharmaceutical companies and its effectiveness at managing risk to the patient. The objective of the research described in this thesis was to characterize a maturity state of QRM implementation in which the patient is adequately protected from the risks associated with medicinal products of inadequate quality. The research was conducted over three phases: first, to determine whether patients are bet...

  3. 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.

  4. What plant hydraulics can tell us about responses to climate-change droughts.

    Science.gov (United States)

    Sperry, John S; Love, David M

    2015-07-01

    Climate change exposes vegetation to unusual drought, causing declines in productivity and increased mortality. Drought responses are hard to anticipate because canopy transpiration and diffusive conductance (G) respond to drying soil and vapor pressure deficit (D) in complex ways. A growing database of hydraulic traits, combined with a parsimonious theory of tree water transport and its regulation, may improve predictions of at-risk vegetation. The theory uses the physics of flow through soil and xylem to quantify how canopy water supply declines with drought and ceases by hydraulic failure. This transpiration 'supply function' is used to predict a water 'loss function' by assuming that stomatal regulation exploits transport capacity while avoiding failure. Supply-loss theory incorporates root distribution, hydraulic redistribution, cavitation vulnerability, and cavitation reversal. The theory efficiently defines stomatal responses to D, drying soil, and hydraulic vulnerability. Driving the theory with climate predicts drought-induced loss of plant hydraulic conductance (k), canopy G, carbon assimilation, and productivity. Data lead to the 'chronic stress hypothesis' wherein > 60% loss of k increases mortality by multiple mechanisms. Supply-loss theory predicts the climatic conditions that push vegetation over this risk threshold. The theory's simplicity and predictive power encourage testing and application in large-scale modeling. © 2015 The Authors. New Phytologist © 2015 New Phytologist Trust.

  5. The application of holistic risk management in the banking industry

    Directory of Open Access Journals (Sweden)

    J. Chibayambuya

    2007-12-01

    Full Text Available Purpose: The application of holistic risk management is fast becoming a standard measure of good governance in the business arena. What role can holistic risk management play in the management of risk in the financial services industry? The aim of this paper is to propose a holistic risk management framework for the management of risk. Design/Methodology/Approach: A comprehensive framework that covers the holistic view risk management is proposed/developed out of an extensive literature review. Findings: Given the deliberations of various frameworks, a holistic risk management is proposed. The proposed framework ensures that all components of risk management are taken into account when strategizing for risk management in general and holistic risk management in particular; thereby improving the management of risk in the banking industry. Implications: The article proposes a holistic approach to risk management which takes into account all the facets of risk management, e.g. analyzing, planning, strategy, communication, implementation, motivation, systems review and plan modification. This holistic approach, when implemented in the banking industry, can have a significant impact on the improved management of risk. Originality/Value: The new proposed holistic risk management framework offers a fresh perspective of strategizing for risk management in terms of risk analysis, risk planning, risk strategy, risk communication, risk implementation, risk motivation, risk review and risk plan modification.

  6. THEORETICAL BASIS FOR MANAGEMENT OF PERSONNEL RISKS

    OpenAIRE

    Haliashova, Katsiaryna

    2017-01-01

    Necessity of personnel risks management is based on research results. The authors' approaches to the determination of personnel risks and to their management have been explored. The author's definition of the concept of "personnel risks" is proposed. A classification of personnel risks is developed depending on the stage of origin and the tasks of the personnel policy, as well as the methods of management personnel risks in the organization. The article presents a methodical approach to perso...

  7. Economic Exposure and Integrated Risk Management

    OpenAIRE

    Miller, Kent D.

    1994-01-01

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

  8. Managing power risk

    International Nuclear Information System (INIS)

    Rudd, D.C.

    1999-01-01

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

  9. Accommodating the Challenges of Climate Change Adaptation and Governance in Conventional Risk Management: Adaptive Collaborative Risk Management (ACRM)

    OpenAIRE

    Bradley May; Ryan Plummer

    2011-01-01

    Risk management is a well established tool for climate change adaptation. It is facing new challenges with the end of climate stationarity and the need to meaningfully engage people in governance issues. The ways in which conventional approaches to risk management can respond to these challenges are explored. Conventional approaches to risk management are summarized, the manner in which they are being advanced as a tool for climate change adaptation is described, and emerging themes in risk m...

  10. Process-based project proposal risk management

    Directory of Open Access Journals (Sweden)

    Alok Kumar

    2016-12-01

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

  11. 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".

  12. Development of Risk Management Technology/Development of Risk-Informed Application Technology

    Energy Technology Data Exchange (ETDEWEB)

    Yang, Joon Eon; Kim, K. Y.; Ahn, K. I.; Lee, Y. H.; Lim, H. G.; Jung, W. S.; Choi, S. Y.; Han, S. J.; Ha, J. J.; Hwang, M. J.; Park, S. Y.; Yoon, C

    2007-06-15

    This project aims at developing risk-informed application technologies to enhance the safety and economy of nuclear power plant altogether. For this, the Integrated Level 1 and 2 PSA model is developed. In addition, the fire and internal flooding PSA models are improved according to the PSA standard of U.S.A. To solve the issues of domestic PSA model, the best-estimate thermal hydraulic analyses are preformed for the ATWS and LSSB. In order to reduce the uncertainty of PSA, several new PSA technologies are developed: (1) more exact quantification of large fault tree, (2) importance measure including the effects of external PSA. As feasibility studies of Option 2 and 3, the class of 6 systems' SSC are re-classified based on the risk information and the sensitivity analyses is performed for the EDG starting time, respectively. It is also improved that the methodology to identify the vital area of NPP. The research results of this project can be used in the regulatory body and the industry projects for risk-informed applications.

  13. Development of Risk Management Technology/Development of Risk-Informed Application Technology

    International Nuclear Information System (INIS)

    Yang, Joon Eon; Kim, K. Y.; Ahn, K. I.; Lee, Y. H.; Lim, H. G.; Jung, W. S.; Choi, S. Y.; Han, S. J.; Ha, J. J.; Hwang, M. J.; Park, S. Y.; Yoon, C.

    2007-06-01

    This project aims at developing risk-informed application technologies to enhance the safety and economy of nuclear power plant altogether. For this, the Integrated Level 1 and 2 PSA model is developed. In addition, the fire and internal flooding PSA models are improved according to the PSA standard of U.S.A. To solve the issues of domestic PSA model, the best-estimate thermal hydraulic analyses are preformed for the ATWS and LSSB. In order to reduce the uncertainty of PSA, several new PSA technologies are developed: (1) more exact quantification of large fault tree, (2) importance measure including the effects of external PSA. As feasibility studies of Option 2 and 3, the class of 6 systems' SSC are re-classified based on the risk information and the sensitivity analyses is performed for the EDG starting time, respectively. It is also improved that the methodology to identify the vital area of NPP. The research results of this project can be used in the regulatory body and the industry projects for risk-informed applications

  14. Risk Management in Logystics Chains

    OpenAIRE

    Butrin, Andrey; Vikulov, Vladimir

    2013-01-01

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

  15. The Theme of Risk Management

    Directory of Open Access Journals (Sweden)

    Chua, D. K. H.

    2014-07-01

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

  16. Risk management at GPU Nuclear

    International Nuclear Information System (INIS)

    Long, R.L.

    1991-01-01

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

  17. Risk Management and Uncertainty in Infrastructure Projects

    DEFF Research Database (Denmark)

    Harty, Chris; Neerup Themsen, Tim; Tryggestad, Kjell

    2014-01-01

    The assumption that large complex projects should be managed in order to reduce uncertainty and increase predictability is not new. What is relatively new, however, is that uncertainty reduction can and should be obtained through formal risk management approaches. We question both assumptions...... by addressing a more fundamental question about the role of knowledge in current risk management practices. Inquiries into the predominant approaches to risk management in large infrastructure and construction projects reveal their assumptions about knowledge and we discuss the ramifications these have...... for project and construction management. Our argument and claim is that predominant risk management approaches tends to reinforce conventional ideas of project control whilst undermining other notions of value and relevance of built assets and project management process. These approaches fail to consider...

  18. Perceptions of food risk management among key stakeholders

    DEFF Research Database (Denmark)

    van Kleef, Ellen; Frewer, Lynn J.; Chryssochoidis, George M.

    2006-01-01

    In designing and implementing appropriate food risk management strategies, it is important to examine how key stakeholders perceive both the practice and effectiveness of food risk management.......In designing and implementing appropriate food risk management strategies, it is important to examine how key stakeholders perceive both the practice and effectiveness of food risk management....

  19. Rethinking 'risk' and self-management for chronic illness.

    Science.gov (United States)

    Morden, Andrew; Jinks, Clare; Ong, Bie Nio

    2012-02-01

    Self-management for chronic illness is a current high profile UK healthcare policy. Policy and clinical recommendations relating to chronic illnesses are framed within a language of lifestyle risk management. This article argues the enactment of risk within current UK self-management policy is intimately related to neo-liberal ideology and is geared towards population governance. The approach that dominates policy perspectives to 'risk' management is critiqued for positioning people as rational subjects who calculate risk probabilities and act upon them. Furthermore this perspective fails to understand the lay person's construction and enactment of risk, their agenda and contextual needs when living with chronic illness. Of everyday relevance to lay people is the management of risk and uncertainty relating to social roles and obligations, the emotions involved when encountering the risk and uncertainty in chronic illness, and the challenges posed by social structural factors and social environments that have to be managed. Thus, clinical enactments of self-management policy would benefit from taking a more holistic view to patient need and seek to avoid solely communicating lifestyle risk factors to be self-managed.

  20. The role of risk perception for risk management

    International Nuclear Information System (INIS)

    Renn, Ortwin

    1998-01-01

    Are risks social constructions of different societal actors that can be checked at best against standards of consistency, cohesion and internal conventions of deduction, but cannot claim any validity outside of the actor's logical framework? Or are technical estimates of risk representations of real hazards that can and will affect people as predicted by the statistical values, regardless of the beliefs or convictions of those who conduct the assessments? Which of the two sides one takes determines the legitimate function of risk perception for management purposes. The paper argues that both extremes, the constructivist and the realist perspective, miss the point, as risks are always mental representations of threats that are capable of claiming real losses. Over the last two decades, risk analysts have dealt with both sides of risk in an additive fashion. In times in which risk management has been under serious pressure to demonstrate effectiveness and cost-efficiency, the parallel approach of pleasing the technical elite and the public alike has lost legitimacy. In order to integrate risk assessment and perception, the paper analyses the strengths and weaknesses of each approach to risk analysis and highlights the potential contributions that the technical sciences and the social sciences can offer to risk management. Technical assessments provide the best estimate for judging the average probability of an adverse effect linked to an object or activity. First, public perception should govern the selection of criteria on which acceptability or tolerability are to be judged. Second, public input is needed to determine the trade-offs between criteria. Third, public preferences are needed to design resilient strategies for coping with remaining uncertainties. A public participation model is introduced that promises an integration of analytic knowledge and deliberative process involving those who will be affected by the respective risk

  1. A risk communication case study: the Nevada risk assessment/management program

    International Nuclear Information System (INIS)

    Hechanova, A.E.

    2000-01-01

    The Nevada Risk Assessment/Management Program (NRAMP) is part of a national effort by the U.S. Department of Energy (DOE) to develop new sources of information and approaches to risk assessment, risk management, risk communication and public outreach as these objectives relate to the ecological and human health effects of radioactive and hazardous material management and site remediation activities. This paper reviews the innovation behind the NRAMP project and presents a synopsis of the NRAMP effort which occurred from 1995 to 2000. The primary goals of the DOE in awarding the cooperative agreement establishing NRAMP were to (I) use a risk-based approach to evaluate the consequences of alternative actions in DOE's Environmental Remediation Programs at sites in Nevada and (2) use a neutral and credible institution outside the DOE to perform the risk assessments and contribute to public education about environmental management issues at the Nevada Test Site. (author)

  2. Contextualising risk within enterprise risk management through the application of systems thinking

    CSIR Research Space (South Africa)

    Haywood, Lorren K

    2017-06-01

    Full Text Available New and emerging risks create growing uncertainty and unpredictability within enterprise risk management. While ISO 31000:2009 is a progressive risk management framework, it is limited in its guidance on how to contextualise complex risks...

  3. INVENTORY AND RISK MANAGEMENT: DECREASING DELIVERY RISK OF PURCHASERS

    Directory of Open Access Journals (Sweden)

    Grzegorz MICHALSKI

    2008-12-01

    Full Text Available The basic financial purpose of an enterprise is maximization of its value. Inventory management should also contribute to realization of this fundamental aim. The enterprise value maximization strategy is executed with a focus on risk and uncertainty. This article presents the consequences for the recipients firm that can result from operating risk that is related to delivery risk generated by the suppliers. The present article offers a method that uses portfolio management theory to choose the suppliers.

  4. Management Ownership and Risk-Shifting Investment

    OpenAIRE

    Nobuyuki Teshima

    2012-01-01

    This study analyzes the relationship between management ownership and its risk-shifting incentive. We first present a simple model showing that the risk-shifting incentive of management of financially distressed firms increases as the management ownership of the firm increases. Empirically, we test the hypothesis that under the former Japanese Corporate Reorganization Law, firms with higher management ownership are more likely to use legal rather than private reorganization. Since the reorgan...

  5. The hydraulic capacity of deteriorating sewer systems.

    Science.gov (United States)

    Pollert, J; Ugarelli, R; Saegrov, S; Schilling, W; Di Federico, V

    2005-01-01

    Sewer and wastewater systems suffer from insufficient capacity, construction flaws and pipe deterioration. Consequences are structural failures, local floods, surface erosion and pollution of receiving waters bodies. European cities spend in the order of five billion Euro per year for wastewater network rehabilitation. This amount is estimated to increase due to network ageing. The project CARE-S (Computer Aided RE-habilitation of Sewer Networks) deals with sewer and storm water networks. The final project goal is to develop integrated software, which provides the most cost-efficient system of maintenance, repair and rehabilitation of sewer networks. Decisions on investments in rehabilitation often have to be made with uncertain information about the structural condition and the hydraulic performance of a sewer system. Because of this, decision-making involves considerable risks. This paper presents the results of research focused on the study of hydraulic effects caused by failures due to temporal decline of sewer systems. Hydraulic simulations are usually carried out by running commercial models that apply, as input, default values of parameters that strongly influence results. Using CCTV inspections information as dataset to catalogue principal types of failures affecting pipes, a 3D model was used to evaluate their hydraulic consequences. The translation of failures effects in parameters values producing the same hydraulic conditions caused by failures was carried out through the comparison of laboratory experiences and 3D simulations results. Those parameters could be the input of 1D commercial models instead of the default values commonly inserted.

  6. 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.

  7. Strategic Risk Management and Corporate Value Creation

    DEFF Research Database (Denmark)

    Andersen, Torben Juul; Roggi, Oliviero

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

  8. Developing Risk Management as a Competitive Capability

    OpenAIRE

    Silva, E.; Wu, Y.; Ojiako, U.

    2013-01-01

    At the level of the firm, three major parameters are found to influence the ability of SMEs to develop risk management competencies; these are enterprise risk management, internal control, and risk culture.

  9. Social Risk and the Management of MNCs

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    2015-01-01

    Multinational companies (MNCs) are increasing being exposed to risk that originate from local communities in the business environment where they operate. The response has been to implement systems for stakeholder engagement by including social issues into their risk management systems. However......” systems, which are based on the capability to identify frames and sensemaking processes. This paper show how social risk management can be conventionalised using distinct theoretical domains taking its outset in a sociological perspective on risk, linking International Business (IB) risk management...

  10. RISK MANAGEMENT PROCESSES IN SUPPLY CHAINS

    Directory of Open Access Journals (Sweden)

    Aleksandar Aleksić

    2009-06-01

    Full Text Available One of the keys of successful business last few years is effective dealing with risks in every meaning of that word. At the time when the world economic crisis largely limits business, successful Risk management is the only way of survival for a large number of business systems. This paper will present the processes of risk management in supply chains that are in accordance with the standards ISO 28000 and ISO 31000. By implementing a holistic, enterprise-wide supply chain risk management program, companies also can uphold their commitment to providing strong corporate governance on behalf of stakeholders and increase their market value.

  11. Risk management of precious metals

    NARCIS (Netherlands)

    S.M. Hammoudeh (Shawkat); F. Malik (Farooq); M.J. McAleer (Michael)

    2010-01-01

    textabstractThis paper examines volatility and correlation dynamics in price returns of gold, silver, platinum and palladium, and explores the corresponding risk management implications for market risk and hedging. Value-at-Risk (VaR) is used to analyze the downside market risk associated with

  12. Hydraulic Function in Australian Tree Species during Drought-Induced Mortality

    Science.gov (United States)

    Tissue, D.; Maier, C.; Creek, D.; Choat, B.

    2016-12-01

    Drought induced tree mortality and decline are key issues facing forest ecology and management. Here, we primarily investigated the hydraulic limitations underpinning drought-induced mortality in three Australian tree species. Using field-based large rainout shelters, three angiosperm species (Casuarina cunninghamiana, Eucalyptus sideroxylon, Eucalyptus tereticornis) were subjected to two successive drought and recovery cycles, prior to a subsequent long and extreme drought to mortality; total duration of experiment was 2.5 years. Leaf gas exchange, leaf and stem hydraulics, and carbon reserves were monitored during the experiment. Trees died as a result of failure in the hydraulic transport system, primarily related to water stress induced embolism. Stomatal closure occurred prior to the induction of significant embolism in the stem xylem of all species. Nonetheless, trees suffered a rapid decline in xylem water potential and increase in embolism during the severe drought treatment. Trees died at water potentials causing greater than 90% loss of hydraulic conductivity in the stem, providing support for the theory that lethal water potential is correlated with complete loss of hydraulic function in the stem xylem of angiosperms.

  13. Risk management, derivatives and shariah compliance

    Science.gov (United States)

    Bacha, Obiyathulla Ismath

    2013-04-01

    Despite the impressive growth of Islamic Banking and Finance (IBF), a number of weaknesses remain. The most important of this is perhaps the lack of shariah compliant risk management tools. While the risk sharing philosophy of Islamic Finance requires the acceptance of risk to justify returns, the shariah also requires adherents to avoid unnecessary risk-maysir. The requirement to avoid maysir is in essence a call for the prudent management of risk. Contemporary risk management revolves around financial engineering, the building blocks of which are financial derivatives. Despite the proven efficacy of derivatives in the management of risk in the conventional space, shariah scholars appear to be suspicious and uneasy with their use in IBF. Some have imposed outright prohibition of their use. This paper re-examines the issue of contemporary derivative instruments and shariah compliance. The shariah compatibility of derivatives is shown in a number of ways. First, by way of qualitative evaluation of whether derivatives can be made to comply with the key prohibitions of the sharia. Second, by way of comparing the payoff profiles of derivatives with risk sharing finance and Bai Salam contracts. Finally, the equivalence between shariah compliant derivatives like the IPRS and Islamic FX Currency Forwards with conventional ones is presented.

  14. The total theory about risk management

    International Nuclear Information System (INIS)

    Furuya, Shunsuke

    2003-01-01

    A general working procedure of risk management, some example of other countries, topics and problems in the future are described. A definition of risk, risk assessment, risk management process, setting of aim and definite policy are explained. As a fundamental way of thinking, risk is controlled by ALARP (As Low As Reasonably Practicable). The upper and lower limit of risk level is called as Quantitative Safety Goal and Target Level of Safety, respectively. These limits in the atomic power and airplane are decided. Evaluation of risk, countermeasure and practice are explained. For example, a permissible range of risk and practical use in England, U.S.A, Holland and Japan are stated. Recently, accountability risk, missing demand risk and control risk are important. (S.Y.)

  15. Exchange Risk Management Policy

    CERN Document Server

    2005-01-01

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

  16. Risk management at Lawrence Livermore National Laboratory

    International Nuclear Information System (INIS)

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

    1993-10-01

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

  17. BEHAVIOURAL INSIGHTS INTO SUPPLY CHAIN RISK MANAGEMENT

    OpenAIRE

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

    2015-01-01

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

  18. Risk management in Swedish hedge funds

    OpenAIRE

    Fri, Samuel; Nilsson, Joakim

    2011-01-01

    Background: Risk management has always been a complex topic, especially when it comes to hedge funds. Since hedge funds are able to utilize many kinds of financial instruments it is difficult to find a risk management strategy that goes well with them. Not much research regarding the Swedish hedge fund industry and its risk management has been done; hence we find it an interesting topic to focus this thesis on. Purpose: The purpose of this thesis is to increase the knowledge of how Swedish he...

  19. Is ALARP applicable to the management of terrorist risks?

    International Nuclear Information System (INIS)

    Guikema, S.D.; Aven, T.

    2010-01-01

    In this paper, we discuss the applicability of the as low as reasonable practicable (ALARP) principle to terrorist risk management. ALARP is a commonly used framework for managing risk due to non-intelligent threats, but terrorism introduces difficult issues, both technically and socially. In particular, the probability of a terrorist attack is difficult to define, terrorist threats are adaptive, and some terrorist risk management actions raise issues of loss of civil liberties not raised by risk management measures for other types of risk. We discuss these issues and their implications for risk management. After showing how ALARP is used to manage the risk from other hazards in different economic sectors, we discuss both the benefits and difficulties associated with extending the ALARP framework for terrorist risk analysis. We conclude that the ALARP framework can be modified to make it appropriate for risk management for adaptive risks, provided that care is taken to explicitly consider adaptive reallocation of risk in response to risk management actions, to account for perceived or actual loss of civil liberties resulting from risk management actions, and to consider the difficulties associated with using probability to measure uncertainty in adversary actions.

  20. Enhanced Capabilities for Subcritical Experiments (ECSE) Risk Management Plan

    Energy Technology Data Exchange (ETDEWEB)

    Urban, Mary Elizabeth [Los Alamos National Lab. (LANL), Los Alamos, NM (United States). Process Modeling and Analysis Group

    2016-05-02

    Risk is a factor, element, constraint, or course of action that introduces an uncertainty of outcome that could impact project objectives. Risk is an inherent part of all activities, whether the activity is simple and small, or large and complex. Risk management is a process that identifies, evaluates, handles, and monitors risks that have the potential to affect project success. The risk management process spans the entire project, from its initiation to its successful completion and closeout, including both technical and programmatic (non-technical) risks. This Risk Management Plan (RMP) defines the process to be used for identifying, evaluating, handling, and monitoring risks as part of the overall management of the Enhanced Capabilities for Subcritical Experiments (ECSE) ‘Project’. Given the changing nature of the project environment, risk management is essentially an ongoing and iterative process, which applies the best efforts of a knowledgeable project staff to a suite of focused and prioritized concerns. The risk management process itself must be continually applied throughout the project life cycle. This document was prepared in accordance with DOE O 413.3B, Program and Project Management for the Acquisition of Capital Assets, its associated guide for risk management DOE G 413.3-7, Risk Management Guide, and LANL ADPM AP-350-204, Risk and Opportunity Management.

  1. Assessing and managing multiple risks in a changing world ...

    Science.gov (United States)

    Roskilde University (Denmark) hosted a November 2015 workshop, Environmental Risk—Assessing and Managing Multiple Risks in a Changing World. This Focus article presents the consensus recommendations of 30 attendees from 9 countries regarding implementation of a common currency (ecosystem services) for holistic environmental risk assessment and management; improvements to risk assessment and management in a complex, human-modified, and changing world; appropriate development of protection goals in a 2-stage process; dealing with societal issues; risk-management information needs; conducting risk assessment of risk management; and development of adaptive and flexible regulatory systems. The authors encourage both cross-disciplinary and interdisciplinary approaches to address their 10 recommendations: 1) adopt ecosystem services as a common currency for risk assessment and management; 2) consider cumulative stressors (chemical and nonchemical) and determine which dominate to best manage and restore ecosystem services; 3) fully integrate risk managers and communities of interest into the risk-assessment process; 4) fully integrate risk assessors and communities of interest into the risk-management process; 5) consider socioeconomics and increased transparency in both risk assessment and risk management; 6) recognize the ethical rights of humans and ecosystems to an adequate level of protection; 7) determine relevant reference conditions and the proper ecological c

  2. Thermally Actuated Hydraulic Pumps

    Science.gov (United States)

    Jones, Jack; Ross, Ronald; Chao, Yi

    2008-01-01

    Thermally actuated hydraulic pumps have been proposed for diverse applications in which direct electrical or mechanical actuation is undesirable and the relative slowness of thermal actuation can be tolerated. The proposed pumps would not contain any sliding (wearing) parts in their compressors and, hence, could have long operational lifetimes. The basic principle of a pump according to the proposal is to utilize the thermal expansion and contraction of a wax or other phase-change material in contact with a hydraulic fluid in a rigid chamber. Heating the chamber and its contents from below to above the melting temperature of the phase-change material would cause the material to expand significantly, thus causing a substantial increase in hydraulic pressure and/or a substantial displacement of hydraulic fluid out of the chamber. Similarly, cooling the chamber and its contents from above to below the melting temperature of the phase-change material would cause the material to contract significantly, thus causing a substantial decrease in hydraulic pressure and/or a substantial displacement of hydraulic fluid into the chamber. The displacement of the hydraulic fluid could be used to drive a piston. The figure illustrates a simple example of a hydraulic jack driven by a thermally actuated hydraulic pump. The pump chamber would be a cylinder containing encapsulated wax pellets and containing radial fins to facilitate transfer of heat to and from the wax. The plastic encapsulation would serve as an oil/wax barrier and the remaining interior space could be filled with hydraulic oil. A filter would retain the encapsulated wax particles in the pump chamber while allowing the hydraulic oil to flow into and out of the chamber. In one important class of potential applications, thermally actuated hydraulic pumps, exploiting vertical ocean temperature gradients for heating and cooling as needed, would be used to vary hydraulic pressures to control buoyancy in undersea research

  3. Effects of model layer simplification using composite hydraulic properties

    Science.gov (United States)

    Kuniansky, Eve L.; Sepulveda, Nicasio; Elango, Lakshmanan

    2011-01-01

    Groundwater provides much of the fresh drinking water to more than 1.5 billion people in the world (Clarke et al., 1996) and in the United States more that 50 percent of citizens rely on groundwater for drinking water (Solley et al., 1998). As aquifer systems are developed for water supply, the hydrologic system is changed. Water pumped from the aquifer system initially can come from some combination of inducing more recharge, water permanently removed from storage, and decreased groundwater discharge. Once a new equilibrium is achieved, all of the pumpage must come from induced recharge and decreased discharge (Alley et al., 1999). Further development of groundwater resources may result in reductions of surface water runoff and base flows. Competing demands for groundwater resources require good management. Adequate data to characterize the aquifers and confining units of the system, like hydrologic boundaries, groundwater levels, streamflow, and groundwater pumping and climatic data for recharge estimation are to be collected in order to quantify the effects of groundwater withdrawals on wetlands, streams, and lakes. Once collected, three-dimensional (3D) groundwater flow models can be developed and calibrated and used as a tool for groundwater management. The main hydraulic parameters that comprise a regional or subregional model of an aquifer system are the hydraulic conductivity and storage properties of the aquifers and confining units (hydrogeologic units) that confine the system. Many 3D groundwater flow models used to help assess groundwater/surface-water interactions require calculating ?effective? or composite hydraulic properties of multilayered lithologic units within a hydrogeologic unit. The calculation of composite hydraulic properties stems from the need to characterize groundwater flow using coarse model layering in order to reduce simulation times while still representing the flow through the system accurately. The accuracy of flow models with

  4. Dairy farmer use of price risk management tools.

    Science.gov (United States)

    Wolf, C A

    2012-07-01

    Volatility in milk and feed prices can adversely affect dairy farm profitability. Many risk management tools are available for use by US dairy farmers. This research uses surveys of Michigan dairy farmers to examine the extent to which price risk management tools have been used, the farm and operator characteristics that explain the use of these tools, and reasons farmers have not used these tools. A 1999 survey was used to benchmark the degree to which dairy producers had used milk and feed price risk management instruments to compare with 2011 use rates. The surveys collected information about the farm characteristics such as herd size, farmland operated, business organization, and solvency position. Farm operator characteristics collected include age, education, and experience. Dairy farmer use of both milk and feed price risk management tools increased between 1999 and 2011. In 2011, herd size was positively related to the use of milk price risk management tools, whereas farms organized as a sole proprietorship were less likely to use them. Also in 2011, herd size and land operated were positively related to feed price risk management tools, whereas operator age was negatively related. Reasons why farmers had not used price risk management tools included basis risk, cost, lack of management time, cooperative membership, and lack of understanding. Conclusions include the need for educational programming on price risk management tools and a broader exploration of dairy farm risk management programs. Copyright © 2012 American Dairy Science Association. Published by Elsevier Inc. All rights reserved.

  5. From CSR to Social Risk Management

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    2014-01-01

    When it comes to social risks multinational companies (MNC) within Mining are one of the most exposed businesses one can imagine. This paper examines how social risk management is practiced through the case of Teghout copper-molybdenum mine in North- Eastern Armenia, supplemented with evidence from...... other mining MNCs in the country, onsite fieldwork, interviews with key stakeholders, and public available information. This evidence suggest that a standards based social risk management strategy is adopted and that this strategy is based on international Corporate Social Responsibility (CSR) standards...... engagement management systems that is promoted through the standard. The implemented social risk management systems are ineffective because they makes the MNC unable to recognise the value of weak ties and fail to build legitimacy and trust with some of the key stakeholders resulting in the creation of more...

  6. WAYS TO IMPROVE RISK MANAGEMENT IN COMPLEX PROJECTS

    Directory of Open Access Journals (Sweden)

    Emilia IORDACHE

    2012-01-01

    Full Text Available Risk is present in all human activities; it can be associated with health, security, economy or environment. The goal of risk management is to control, prevent or decrease potential damages. Technically speaking, risk management means all the activities coordinated so as to orient and monitor an organization from the risk perspective. Risk management helps formulate the most adequate decisions by taking account of uncertainties and their effects upon the accomplishment of proposed goals, and argues the need to lay down and implement coercive, preventive actions typical of the management of a company. The benefits of good risk management and also the consequences of bad management shall undoubtedly be felt by an organization’s board, employees, shareholders, customers as well as by all other entities concerned with organizational performance. Projects generally include a number of risks in common with those in business as well as certain typical ones. In complex projects, it is this very feature – complexity – which generates the need to implement risk management for the purpose to diminish, remove, and monitor the risks which can influence the development of a project.

  7. Risk Management in Information Technology Project: An Empirical Study

    Directory of Open Access Journals (Sweden)

    Kornelius Irfandhi

    2016-09-01

    Full Text Available The companies are facing some risks due to changes in a dynamic environment. If risks are not managed properly, it will have some negative impacts on the companies at the present and the future. One important function of the Information Technology (IT governance is risk management. Risk management in IT project aims to provide a safe environment for IT projects undertaken. Risk management becomes an important process for the success of IT projects. This article discussed the risk of IT project and whether there was a relationship between risk management and the success of the project. The method used was performing a literature review of several scientific articles which published between 2010 and 2014. The results of this study are the presence of risk management and risk manager influence the success of the project. Risk analysis and risk monitoring and control also have a relationship with the subjective performance of IT projects. If risk management is applied properly, the chance of the success of the projects undertaken can be increased. 

  8. The NASA Continuous Risk Management Process

    Science.gov (United States)

    Pokorny, Frank M.

    2004-01-01

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

  9. The essentials of risk management the definitive guide for the non-risk professional

    CERN Document Server

    Crouhy, Michel; Mark, Robert

    2006-01-01

    Learn what risk management is and how you can effectively implement it in your organisation Essentials of Risk Management eliminates the complex mathematics and minutiae surrounding corporate risk management. It describes key risk concepts and controls in language that you can understand. Topics include organisational issues and regulatory aspects, along with detailed descriptions of tools for controlling key types of market, credit, and operational risk.

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

    Science.gov (United States)

    Zhu, Wenmin; Jia, Yuanhua

    2018-01-01

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

  11. Online application of a risk management system for risk assessment and monitoring at NPPs

    Energy Technology Data Exchange (ETDEWEB)

    Yang, Jun, E-mail: youngjun51@hotmail.com [Key Laboratory of Fundamental Science on Nuclear Safety and Simulation Technology, Harbin Engineering University (China); Yang, Ming, E-mail: yangming@hrbeu.edu.cn [Key Laboratory of Fundamental Science on Nuclear Safety and Simulation Technology, Harbin Engineering University (China); Wang, Wenlin, E-mail: wlwang0618@126.com [Key Laboratory of Fundamental Science on Nuclear Safety and Simulation Technology, Harbin Engineering University (China); Li, Fengjun, E-mail: leefengjun@163.com [China Nuclear Power Engineering Co. Ltd (China)

    2016-08-15

    Highlights: • A generic GO-FLOW modeling structure is proposed for easily Living PSA development and analysis. • Hierarchical and modularized scheme is applied in the development of Living PSA models and database. • A risk management system is developed by GO-FLOW method. • Functional testing is conducted on the risk management system for performance evaluation. • The fast solution time derived from Living PSA application is supportive in plant safety management. - Abstract: The paper presents a risk management system on the basis of Living PSA models which are developed under a proposed generic GO-FLOW modeling method with a hierarchical and modular structure. The design of the risk management system is aiming at assisting plant personnel to manage maintenance plan and system configuration, and conduct system reliability monitoring, risk monitoring and risk management quickly and conveniently through graphical user interfaces without going deep into the details of building, updating and analyzing reliability and risk models. The performance of the proposed risk management system was tested on a full-scale simulator of PWR nuclear power plant and demonstrated that the fast solution time derived from utilization of hierarchical and modularized Living PSA models is strongly supportive for instantaneous risk assessment as well as for daily risk management at NPPs.

  12. Risk management in product innovation projects

    NARCIS (Netherlands)

    Halman, J.I.M.; Keizer, J.A.

    1993-01-01

    In product innovation projects risk management has become increasingly important. Technological and commercial developments ask for effective and efficient product innovation. Systematic diagnosing and management of risks can help to make product innovation projects successful. In this paper a

  13. Shutdown risk management applied at Philadelphia Electric Company

    International Nuclear Information System (INIS)

    Dagan, William J.; True, Douglas E.; Wilson, Thomas; Truax, William

    2004-01-01

    The development and implementation of an effective risk management program requires basic risk or safety knowledge and the conversion of such information into effective management tools. ERIN Engineering and Research, Inc., under contract to the Electric Power Research Institute, has developed an effective program. Outage Risk Assessment and Management (ORAM), to provide plant and management personnel with understandable results of shutdown risk studies. With this tool, the impact of plans and decision options can be readily determined and displayed for the decision maker. This paper describes these methods and their application to the Limerick Nuclear Station of Philadelphia Electric Company. It also sets forth a broader application of these methods to include support of management decisions at-power and following forced outages. The result is an integrated risk management framework which can allow management and technical personnel to utilize readily available and understandable risk insights to optimize each activity. This paper addresses the resolution of several key issues in detail: How was the ORAM risk management method employed to represent the existing plant shutdown procedures and policies? How did the ORAM risk management method enhance the decision-making ability of the outage management staff? How was the ORAM software efficiently integrated with the outage scheduling software? How is quantitative risk information generated and used for outage planning and control? The ORAM risk management philosophy utilizes a series of colors to depict various risk configurations. Each such configuration has associated with it clear guidance. By modifying the conditions existing in the plant it is possible to impact the type of risk being encountered as well as the guidance which is appropriate for that period. In addition, the duration of a particular configuration can be effectively managed to reduce the overall risk impact. These are achieved with minimal

  14. Managing the total cost of risk exposures through risk mapping techniques

    International Nuclear Information System (INIS)

    Unione, A.J.; Rode, D.M.

    1998-01-01

    In a competitive power market, power producers are exposed to an increasingly broad spectrum of financial risks. The cumulative impact of these financial risks is known collectively as the Total of Cost of Risk. The concept of Total of Cost of Risk presents the business reality of a company's exposure to potentially devastating financial consequences in an integrated and useful way. In this way, a strategy of managing Total Cost of Risk in the most cost effective way can become a means of ensuring long term business health and security. This paper will examine the use of risk mapping as a tool for visually understanding Total Cost of Risk, thus creating an enhanced situational awareness and an integrated basis for risk management decision. The evaluation process, available through the use of risk maps allows the power producers to pro-actively implement prudent business decisions concerning the design, operation and maintenance of power plants. Risk mapping is thus a means for harmonizing operational objectives, such as improved plant reliability, with corporate strategies and goals in terms of an effective risk management program

  15. Mine drivage in hydraulic mines

    Energy Technology Data Exchange (ETDEWEB)

    Ehkber, B Ya

    1983-09-01

    From 20 to 25% of labor cost in hydraulic coal mines falls on mine drivage. Range of mine drivage is high due to the large number of shortwalls mined by hydraulic monitors. Reducing mining cost in hydraulic mines depends on lowering drivage cost by use of new drivage systems or by increasing efficiency of drivage systems used at present. The following drivage methods used in hydraulic mines are compared: heading machines with hydraulic haulage of cut rocks and coal, hydraulic monitors with hydraulic haulage, drilling and blasting with hydraulic haulage of blasted rocks. Mining and geologic conditions which influence selection of the optimum mine drivage system are analyzed. Standardized cross sections of mine roadways driven by the 3 methods are shown in schemes. Support systems used in mine roadways are compared: timber supports, roof bolts, roof bolts with steel elements, and roadways driven in rocks without a support system. Heading machines (K-56MG, GPKG, 4PU, PK-3M) and hydraulic monitors (GMDTs-3M, 12GD-2) used for mine drivage are described. Data on mine drivage in hydraulic coal mines in the Kuzbass are discussed. From 40 to 46% of roadways are driven by heading machines with hydraulic haulage and from 12 to 15% by hydraulic monitors with hydraulic haulage.

  16. APPLIED ISSUES ABOUT BANKING RISK MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Elena Geanina Clipici

    2017-09-01

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

  17. AN OVERVIEW ON STATE OF KNOWLEDGE OF RISK AND RISK MANAGEMENT IN ECONOMICS FIELDS

    Directory of Open Access Journals (Sweden)

    Mirela NICHITA

    2015-04-01

    Full Text Available The purpose of this paper is to present a history and an evolution of concepts of risk and risk management in economic, respectively financial fields, highlighting the usefulness (or not and complexity of tools for risk assessment developed over time. The main objective of risk management is to reduce costs and increase the value of company and stakeholders gains; also, a coherent risk management strategy may improve entity capital structure which will derive in a healthy financing policy. The risk and risk management field has been developed merely after the second world war and creates the favourable context of a new C position in business chart – Chief Risk Officer. The paper will explore the etymology of term risk correlated with the uncertainty. Research on risk and risk management is not possible without taking into account the derivatives market.

  18. Drug utilization research and risk management

    NARCIS (Netherlands)

    Mazzaglia, Giampiero; Mol, Peter G. M.; Elseviers, Monique; Wettermark, Björn; Almarsdóttir, Anna Birna; Andersen, Morten; Benko, Ria; Bennie, Marion; Eriksson, Irene; Godman, Brian; Krska, Janet; Poluzzi, Elisabetta; Taxis, Katja; Vlahovic-Palcevski, Vera; Stichele, Robert Vander

    2016-01-01

    Good risk management requires continuous evaluation and improvement of planned activities. The evaluation impact of risk management activities requires robust study designs and carefully selected outcome measures. Key learnings and caveats from drug utilization research should be applied to the

  19. Hydraulically active biopores stimulate pesticide mineralization in agricultural subsoil

    DEFF Research Database (Denmark)

    Badawi, Nora; Johnsen, Anders R.; Brandt, Kristian Koefoed

    2013-01-01

    for microbially-mediated pesticide mineralization, thereby reducing the risk of pesticide leaching. To investigate this we identified hydraulically active biopores in a test plot of an agricultural field by percolating brilliant blue through the soil. Small portions of soil (500 mg) were sampled at approx. 1-cm...... highly stimulated in the transition zone biopores, whereas the density of MCPA degraders was significantly lower in the subsoil, where no MCPA mineralization occurred. We conclude that hydraulically active biopores may constitute hot spots for pesticide mineralization, but that this biopore effect...

  20. Risk Management for Enterprise Resource Planning Post Implementation Using COBIT 5 for Risk

    OpenAIRE

    Indah, Dwi Rosa; Harlili, Harlili; Firdaus, Afriyan

    2014-01-01

    Risk management for ERP postimplementation is required to achieve ERP success. In this paper, risk management for ERP postimplementation is designed using COBIT 5 for Risk on APO12 processes. The design of a risk management framework begins with assessment of ERP postimplementation success adopting two approaches, namely the framework of ERP post-implementation success and Critical Success Factor of ERP post-implementation as an input to the risk identification adopted from COBIT 5 for Risk. ...

  1. Interest Rate Risk Management using Duration Gap Methodology

    Directory of Open Access Journals (Sweden)

    Dan Armeanu

    2008-01-01

    Full Text Available The world for financial institutions has changed during the last 20 years, and become riskier and more competitive-driven. After the deregulation of the financial market, banks had to take on extensive risk in order to earn sufficient returns. Interest rate volatility has increased dramatically over the past twenty-five years and for that an efficient management of this interest rate risk is strong required. In the last years banks developed a variety of methods for measuring and managing interest rate risk. From these the most frequently used in real banking life and recommended by Basel Committee are based on: Reprising Model or Funding Gap Model, Maturity Gap Model, Duration Gap Model, Static and Dynamic Simulation. The purpose of this article is to give a good understanding of duration gap model used for managing interest rate risk. The article starts with a overview of interest rate risk and explain how this type of risk should be measured and managed within an asset-liability management. Then the articles takes a short look at methods for measuring interest rate risk and after that explains and demonstrates how can be used Duration Gap Model for managing interest rate risk in banks.The world for financial institutions has changed during the last 20 years, and become riskier and more competitive-driven. After the deregulation of the financial market, banks had to take on extensive risk in order to earn sufficient returns. Interest rate volatility has increased dramatically over the past twenty-five years and for that an efficient management of this interest rate risk is strong required. In the last years banks developed a variety of methods for measuring and managing interest rate risk. From these the most frequently used in real banking life and recommended by Basel Committee are based on: Reprising Model or Funding Gap Model, Maturity Gap Model, Duration Gap Model, Static and Dynamic Simulation. The purpose of this article is to give a

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

    Directory of Open Access Journals (Sweden)

    N. Dorosh

    2017-09-01

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

  3. Underground risk management information systems

    Energy Technology Data Exchange (ETDEWEB)

    Matsuyama, S.; Inoue, M.; Sakai, T.

    2006-03-15

    JCOAL has conducted Joint Research on an Underground Communication and Risk Management Information System with CSIRO of Australia under a commissioned study project for the promotion of coal use starting in fiscal 2002. The goal of this research project is the establishment of a new Safety System focusing on the comprehensive risk management information system by the name of Nexsys. The main components of the system are the Ethernet type underground communication system that represents the data communication base, and the risk management information system that permits risk analysis in real-time and provides decision support based on the collected data. The Nexsys is an open system and is a core element of the underground monitoring system. Using a vast amount of underground data, it is capable of accommodating a wide range of functions that were not available in the past. Because of it, it is possible to construct an advanced underground safety system. 14 figs., 4 tabs.

  4. Basic hydraulics

    CERN Document Server

    Smith, P D

    1982-01-01

    BASIC Hydraulics aims to help students both to become proficient in the BASIC programming language by actually using the language in an important field of engineering and to use computing as a means of mastering the subject of hydraulics. The book begins with a summary of the technique of computing in BASIC together with comments and listing of the main commands and statements. Subsequent chapters introduce the fundamental concepts and appropriate governing equations. Topics covered include principles of fluid mechanics; flow in pipes, pipe networks and open channels; hydraulic machinery;

  5. Current Chemical Risk Management Activities

    Science.gov (United States)

    EPA's existing chemicals programs address pollution prevention, risk assessment, hazard and exposure assessment and/or characterization, and risk management for chemicals substances in commercial use.

  6. Estimation of Hydraulic Parameters and Aquifer Properties for a Managed Aquifer Recharge Pilot Study in The Lower Mississippi River Basin

    Science.gov (United States)

    Ozeren, Y.; Rigby, J.; Holt, R. M.

    2017-12-01

    Mississippi River Valley Alluvial Aquifer (MRVAA) is the major irrigation water resource in the in the lower Mississippi River basin. MRVAA has been significantly depleted in the last two decades due to excessive pumping. A wide range of measures to ensure sustainable groundwater supply in the region is currently under investigation. One of the possible solution under consideration is to use Managed Aquifer Recharge (MAR) by artificial recharge. The proposed artificial recharge technique in this study is to collect water through bank filtration, transfer water via pipeline to the critically low groundwater areas by a set of injection wells. A pilot study in the area is underway to investigate the possibility of artificial recharge in the area. As part of this study, a pumping test was carried out on an existing irrigation well along banks of Tallahatchie River near Money, MS. Geophysical surveys were also carried out in the pilot study area. Hydraulic response of the observation wells was used to determine stream bed conductance and aquifer parameters. The collected hydraulic parameters and aquifer properties will provide inputs for small-scale, high-resolution engineering model for abstraction-injection hydraulics along river. Here, preliminary results of the pilot study is presented.

  7. Improving Information Security Risk Management

    Science.gov (United States)

    Singh, Anand

    2009-01-01

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

  8. 77 FR 30517 - Electricity Subsector Cybersecurity Risk Management Process

    Science.gov (United States)

    2012-05-23

    ... DEPARTMENT OF ENERGY Electricity Subsector Cybersecurity Risk Management Process AGENCY: Office of... Electricity Subsector Cybersecurity Risk Management Process guideline. The guideline describes a risk... Management Process. The primary goal of this guideline is to describe a risk management process that is...

  9. Risk management guide

    International Nuclear Information System (INIS)

    Briscoe, G.J.

    1977-06-01

    Risk management requires an assessment or a knowledge of risk. This, in turn, requires identification of hazards (sources of risk) and a determination of risk (evaluation of the hazard degree). The hazard identification and risk analysis techniques presented in this Guide are, in general, based on the MORT concept that accidents result from unwanted energy flow in the absence of adequate controls and/or barriers. This Guide presents an analytical tree designed to prevent oversight of specific energy sources in risk identification. Hazard identification by field personnel is also discussed. Quantitative risk analysis is discussed in the following section. A method for summary of the risks for each energy classification is given. This method uses a graphical log-normal projection so that low probability events, which are not adequately represented in the experience data, are included in the risk assessment. This permits a more acceptable risk assessment since catastrophes are not ignored, even though the actual risk is only approximated. In addition, a few examples of risk analysis of specific hazards are given. Rudimentary probability and fault tree theory are used in these examples. Total risk assessment and resource allocation and safety performance trend analysis are discussed

  10. Wildfire Risk Management: Challenges and Opportunities

    Science.gov (United States)

    Thompson, M.; Calkin, D. E.; Hand, M. S.; Kreitler, J.

    2014-12-01

    In this presentation we address federal wildfire risk management largely through the lens of economics, targeting questions related to costs, effectiveness, efficiency, and tradeoffs. Beyond risks to resources and assets such as wildlife habitat, watersheds, and homes, wildfires present financial risk and budgetary instability for federal wildfire management agencies due to highly variable annual suppression costs. Despite its variability, the costs of wildfire management have continued to escalate and account for an ever-growing share of overall agency budgets, compromising abilities to attain other objectives related to forest health, recreation, timber management, etc. Trends associated with a changing climate and human expansion into fire-prone areas could lead to additional suppression costs in the future, only further highlighting the need for an ability to evaluate economic tradeoffs in investments across the wildfire management spectrum. Critically, these economic analyses need to accurately capture the complex spatial and stochastic aspects of wildfire, the inherent uncertainty associated with monetizing environmental impacts of wildfire, the costs and effectiveness of alternative management policies, and linkages between pre-fire investments and active incident management. Investing in hazardous fuels reduction and forest restoration in particular is a major policy lever for pre-fire risk mitigation, and will be a primary focus of our presentation. Evaluating alternative fuel management and suppression policies could provide opportunities for significant efficiency improvements in the development of risk-informed management fire management strategies. Better understanding tradeoffs of fire impacts and costs can help inform policy questions such as how much of the landscape to treat and how to balance investments in treating new areas versus maintaining previous investments. We will summarize current data needs, knowledge gaps, and other factors

  11. Trade-offs between xylem hydraulic properties, wood anatomy and yield in Populus.

    Science.gov (United States)

    Hajek, Peter; Leuschner, Christoph; Hertel, Dietrich; Delzon, Sylvain; Schuldt, Bernhard

    2014-07-01

    Trees face the dilemma that achieving high plant productivity is accompanied by a risk of drought-induced hydraulic failure due to a trade-off in the trees' vascular system between hydraulic efficiency and safety. By investigating the xylem anatomy of branches and coarse roots, and measuring branch axial hydraulic conductivity and vulnerability to cavitation in 4-year-old field-grown aspen plants of five demes (Populus tremula L. and Populus tremuloides Michx.) differing in growth rate, we tested the hypotheses that (i) demes differ in wood anatomical and hydraulic properties, (ii) hydraulic efficiency and safety are related to xylem anatomical traits, and (iii) aboveground productivity and hydraulic efficiency are negatively correlated to cavitation resistance. Significant deme differences existed in seven of the nine investigated branch-related anatomical and hydraulic traits but only in one of the four coarse-root-related anatomical traits; this likely is a consequence of high intra-plant variation in root morphology and the occurrence of a few 'high-conductivity roots'. Growth rate was positively related to branch hydraulic efficiency (xylem-specific conductivity) but not to cavitation resistance; this indicates that no marked trade-off exists between cavitation resistance and growth. Both branch hydraulic safety and hydraulic efficiency significantly depended on vessel size and were related to the genetic distance between the demes, while the xylem pressure causing 88% loss of hydraulic conductivity (P88 value) was more closely related to hydraulic efficiency than the commonly used P50 value. Deme-specific variation in the pit membrane structure may explain why vessel size was not directly linked to growth rate. We conclude that branch hydraulic efficiency is an important growth-influencing trait in aspen, while the assumed trade-off between productivity and hydraulic safety is weak. © The Author 2014. Published by Oxford University Press. All rights reserved

  12. Managing economic risks through simulation

    International Nuclear Information System (INIS)

    Griffin, B.J.; Eresman, R.K.

    1994-01-01

    Industrial operations are commonly managed in terms of such factors as raw material requirements, throughput, equipment reliability, and operator productivity. Simulation can be used to transform standard management performance measures into probabilistic measures which define the associated risks. These results provide valuable insight for effective management of economic risks. Case studies are presented using the Monte Carlo simulation method to demonstrate different applications of simulation techniques, various result formats, and their use for optimizing economic returns. In the first case study, design criteria for a large gas distribution system originally developed from worst-case demand estimates were modelled to provide a risk basis for decisions on alternative upgrading options. In the second, a commercial gas storage facility operation was modelled to develop economic marketing strategies balancing supply and demand requirements from multiple clients. 3 refs

  13. Integrated project risk management of nuclear power projects

    International Nuclear Information System (INIS)

    Wang Xiaohui; Xu Yuanhui

    2001-01-01

    The concept and the features of risks in nuclear power projects are introduced, and in terms of nuclear power projects' own features, the Nuclear Power Project Integrated Risk Management Model is presented. The identification, estimation, evaluation, response plan development, control of risks and the theoretical basis of risk management are discussed. The model has feedback and control functions in order to control and manage the risks dynamically

  14. Nuclear power plant risk assembly and decomposition for risk management

    International Nuclear Information System (INIS)

    Iden, D.C.

    1985-01-01

    The state-of-the-art method for analyzing the risk from nuclear power plants is probabilistic risk assessment (PRA). The intermediate results of a PRA are first assembled to quantify the risk from operating a nuclear power plant in the form of (1) core damage (or core melt) frequency, (2) plant damage state frequencies, (3) release category frequencies, and (4) the frequency of exceeding specific levels of offsite consequences. Once the overall PRA results have been quantified, the next step is to decompose those results into the individual contributors to each of the four forms of risk in some rank order. The way in which the PRA model is set up to assemble and decompose the plant risk determines the ease and usefulness of the PRA model as a risk management tool for evaluating perturbations to the PRA model. These perturbations can take the form of technical specification changes, hardware modifications, procedural changes, etc. The matrix formalism developed by Dr. Stan Kaplan for risk assembly and decomposition represents a significant breakthrough in making the PRA model an effective risk management tool. The key to understanding the matrix formalism and making it a useful tool for managing nuclear power plant risk is the structure of the PRA model. PRA risk model structure and decomposition of the risk results are discussed with the Seabrook PRA as an example

  15. Sustainable nanotechnology decision support system: bridging risk management, sustainable innovation and risk governance

    International Nuclear Information System (INIS)

    Subramanian, Vrishali; Semenzin, Elena; Hristozov, Danail; Zabeo, Alex; Malsch, Ineke; McAlea, Eamonn; Murphy, Finbarr; Mullins, Martin; Harmelen, Toon van; Ligthart, Tom; Linkov, Igor; Marcomini, Antonio

    2016-01-01

    The significant uncertainties associated with the (eco)toxicological risks of engineered nanomaterials pose challenges to the development of nano-enabled products toward greatest possible societal benefit. This paper argues for the use of risk governance approaches to manage nanotechnology risks and sustainability, and considers the links between these concepts. Further, seven risk assessment and management criteria relevant to risk governance are defined: (a) life cycle thinking, (b) triple bottom line, (c) inclusion of stakeholders, (d) risk management, (e) benefit–risk assessment, (f) consideration of uncertainty, and (g) adaptive response. These criteria are used to compare five well-developed nanotechnology frameworks: International Risk Governance Council framework, Comprehensive Environmental Assessment, Streaming Life Cycle Risk Assessment, Certifiable Nanospecific Risk Management and Monitoring System and LICARA NanoSCAN. A Sustainable Nanotechnology Decision Support System (SUNDS) is proposed to better address current nanotechnology risk assessment and management needs, and makes. Stakeholder needs were solicited for further SUNDS enhancement through a stakeholder workshop that included representatives from regulatory, industry and insurance sectors. Workshop participants expressed the need for the wider adoption of sustainability assessment methods and tools for designing greener nanomaterials.

  16. Sustainable nanotechnology decision support system: bridging risk management, sustainable innovation and risk governance

    Energy Technology Data Exchange (ETDEWEB)

    Subramanian, Vrishali, E-mail: vrishali.subramanian@unive.it; Semenzin, Elena; Hristozov, Danail; Zabeo, Alex [University Ca’ Foscari of Venice, Department of Environmental Sciences, Informatics and Statistics (Italy); Malsch, Ineke [Malsch TechnoValuation (Netherlands); McAlea, Eamonn; Murphy, Finbarr; Mullins, Martin [University of Limerick, Kemmy Business School (Ireland); Harmelen, Toon van; Ligthart, Tom [TNO (Netherlands); Linkov, Igor; Marcomini, Antonio, E-mail: marcom@unive.it [University Ca’ Foscari of Venice, Department of Environmental Sciences, Informatics and Statistics (Italy)

    2016-04-15

    The significant uncertainties associated with the (eco)toxicological risks of engineered nanomaterials pose challenges to the development of nano-enabled products toward greatest possible societal benefit. This paper argues for the use of risk governance approaches to manage nanotechnology risks and sustainability, and considers the links between these concepts. Further, seven risk assessment and management criteria relevant to risk governance are defined: (a) life cycle thinking, (b) triple bottom line, (c) inclusion of stakeholders, (d) risk management, (e) benefit–risk assessment, (f) consideration of uncertainty, and (g) adaptive response. These criteria are used to compare five well-developed nanotechnology frameworks: International Risk Governance Council framework, Comprehensive Environmental Assessment, Streaming Life Cycle Risk Assessment, Certifiable Nanospecific Risk Management and Monitoring System and LICARA NanoSCAN. A Sustainable Nanotechnology Decision Support System (SUNDS) is proposed to better address current nanotechnology risk assessment and management needs, and makes. Stakeholder needs were solicited for further SUNDS enhancement through a stakeholder workshop that included representatives from regulatory, industry and insurance sectors. Workshop participants expressed the need for the wider adoption of sustainability assessment methods and tools for designing greener nanomaterials.

  17. Nuclear risk management

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-07-01

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

  18. Nuclear risk management

    International Nuclear Information System (INIS)

    2001-01-01

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

  19. [What Surgeons Should Know about Risk Management].

    Science.gov (United States)

    Strametz, R; Tannheimer, M; Rall, M

    2017-02-01

    Background: The fact that medical treatment is associated with errors has long been recognized. Based on the principle of "first do no harm", numerous efforts have since been made to prevent such errors or limit their impact. However, recent statistics show that these measures do not sufficiently prevent grave mistakes with serious consequences. Preventable mistakes such as wrong patient or wrong site surgery still frequently occur in error statistics. Methods: Based on insight from research on human error, in due consideration of recent legislative regulations in Germany, the authors give an overview of the clinical risk management tools needed to identify risks in surgery, analyse their causes, and determine adequate measures to manage those risks depending on their relevance. The use and limitations of critical incident reporting systems (CIRS), safety checklists and crisis resource management (CRM) are highlighted. Also the rationale for IT systems to support the risk management process is addressed. Results/Conclusion: No single tool of risk management can be effective as a standalone instrument, but unfolds its effect only when embedded in a superordinate risk management system, which integrates tailor-made elements to increase patient safety into the workflows of each organisation. Competence in choosing adequate tools, effective IT systems to support the risk management process as well as leadership and commitment to constructive handling of human error are crucial components to establish a safety culture in surgery. Georg Thieme Verlag KG Stuttgart · New York.

  20. Effects of Risk Management Practices on IT Project Success

    Directory of Open Access Journals (Sweden)

    Pimchangthong Daranee

    2017-03-01

    Full Text Available Successful management of an information technology (IT project is the most desirable for all organisations and stakeholders. Many researchers elaborated that risk management is a key part of project management for any project size. Risk management is so critical because it provides project managers with a forward-looking view of both threats and opportunities to improve the project success. The objectives of this research are to explore organisational factors affecting IT project success and risk management practices influencing IT project success. Risk management practices include risk identification, risk analysis, risk response planning, and risk monitoring and control. The IT project success is measured by process performance and product performance. Data are collected from 200 project managers, IT managers, and IT analysts in IT firms through questionnaires and analysed using Independent Sample t-test, One-way ANOVA, and Multiple Linear Regression at the statistical significance level of 0.05. The results show that the differences in organisational types affect IT project success in all aspects, while the differences on organisational sizes affect IT project success in the aspect of product performance and total aspects. Risk identification and risk response planning influence the process performance and the total aspects of IT project success. Risk identification has the highest positive influence on product performance, followed closely by risk response, while risk analysis negatively influences product performance.

  1. Risk Management in the banking and insurance sector

    Directory of Open Access Journals (Sweden)

    Ibrahim Mala

    2018-03-01

    Full Text Available Risk management is becoming an integral part of every organization, especially for the banking and Insurance sector because of their high-risk business. Both sectors try to manage the risks of their clients and their own risks. But, challenges in the banking and insurance industry are frequently influenced by the liquidity rations and the amount and quality of capital as ground requirements for risk management. The risk exposure in recent times is becoming more complex, more dynamic and diverse. Hence, we need to understand the risks which can be taken and the risks which should be avoided. In the other side insurance policies are long term, enabling insurers to stabilize the financial system and oft en insurance is the final transfer of risk. In this paper we will analyze an overview of risk management in the banking and insurance sector.

  2. Risk Management of NASA Projects

    Science.gov (United States)

    Sarper, Hueseyin

    1997-01-01

    Various NASA Langley Research Center and other center projects were attempted for analysis to obtain historical data comparing pre-phase A study and the final outcome for each project. This attempt, however, was abandoned once it became clear that very little documentation was available. Next, extensive literature search was conducted on the role of risk and reliability concepts in project management. Probabilistic risk assessment (PRA) techniques are being used with increasing regularity both in and outside of NASA. The value and the usage of PRA techniques were reviewed for large projects. It was found that both civilian and military branches of the space industry have traditionally refrained from using PRA, which was developed and expanded by nuclear industry. Although much has changed with the end of the cold war and the Challenger disaster, it was found that ingrained anti-PRA culture is hard to stop. Examples of skepticism against the use of risk management and assessment techniques were found both in the literature and in conversations with some technical staff. Program and project managers need to be convinced that the applicability and use of risk management and risk assessment techniques is much broader than just in the traditional safety-related areas of application. The time has come to begin to uniformly apply these techniques. The whole idea of risk-based system can maximize the 'return on investment' that the public demands. Also, it would be very useful if all project documents of NASA Langley Research Center, pre-phase A through final report, are carefully stored in a central repository preferably in electronic format.

  3. Managing health and safety risks: Implications for tailoring health and safety management system practices.

    Science.gov (United States)

    Willmer, D R; Haas, E J

    2016-01-01

    As national and international health and safety management system (HSMS) standards are voluntarily accepted or regulated into practice, organizations are making an effort to modify and integrate strategic elements of a connected management system into their daily risk management practices. In high-risk industries such as mining, that effort takes on added importance. The mining industry has long recognized the importance of a more integrated approach to recognizing and responding to site-specific risks, encouraging the adoption of a risk-based management framework. Recently, the U.S. National Mining Association led the development of an industry-specific HSMS built on the strategic frameworks of ANSI: Z10, OHSAS 18001, The American Chemistry Council's Responsible Care, and ILO-OSH 2001. All of these standards provide strategic guidance and focus on how to incorporate a plan-do-check-act cycle into the identification, management and evaluation of worksite risks. This paper details an exploratory study into whether practices associated with executing a risk-based management framework are visible through the actions of an organization's site-level management of health and safety risks. The results of this study show ways that site-level leaders manage day-to-day risk at their operations that can be characterized according to practices associated with a risk-based management framework. Having tangible operational examples of day-to-day risk management can serve as a starting point for evaluating field-level risk assessment efforts and their alignment to overall company efforts at effective risk mitigation through a HSMS or other processes.

  4. Research on Risk Management and Power Supplying Enterprise Control

    Science.gov (United States)

    Shen, Jianfei; Wang, Yige

    2017-09-01

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

  5. Integrated, regional approach to risk management of industrial systems

    International Nuclear Information System (INIS)

    Chakraborty, S.

    1992-01-01

    This paper focuses on the following four main issues: (1) necessity for an integrated, regional approach to risk management of industrial systems; (2) principles of risk management; (3) integrated approach and overall methodology; and (4) implementation of risk management strategies on a regional basis. The U.N. Interagency project on risk management for large industrial areas, which is a pioneer type of international initiative for an integrated approach to risk management, is discussed in this context. Another encouraging activity for further development of overall methodologies for risk management is the ongoing project on the risk and safety of technical systems at the Swiss Federal Institute of Technology in Aurich. The concept of integral risk management takes into account multidimensional factors including technical, economic, political, social, and ethical considerations to allow a well-balanced decision-making process

  6. Risk management - unappreciated instrument of supply chain management strategy

    Directory of Open Access Journals (Sweden)

    Wojciech Machowiak

    2012-12-01

    Full Text Available Background: Unlike Enterprise Risk Management, which is certainly quite well rooted in business practice, Supply Chain Risk Management (SCRM still continues to be dynamically developing subject of academic research, whereas its practical applications are rather scarce. Material and methods: On the basis of broad review of the current state of the art in world literature, significant  relevancies to the core processes and enterprise strategy are discussed.   Results: The paper shows some interesting from the enterprise's performance and competitiveness point of view additional benefits, potentially resulting from the proactive, consistent and effective implementation of the SCRM system. Conclusions: Some additional advantages from proactive supply chain risk management account for perceiving SCRM as multifunctional instrument of strategic SC management, exceeding established understanding RM as security and threat-prevention  tool only. Positive influence from SCRM onto SC performance and competitiveness can make reasonable to enhance its position within SCM strategy.

  7. Systems approach to project risk management

    Energy Technology Data Exchange (ETDEWEB)

    Kindinger, J. P. (John P.)

    2002-01-01

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

  8. Surveying perceptions of landslide risk management in Norway

    Science.gov (United States)

    Chiu, Jessica Ka Yi; Eidsvig, Unni

    2016-04-01

    Enhanced precipitation due to climate change leads to increase in both frequency and intensity of landslides in Norway. A proactive approach to risk management is therefore required to significantly reduce the losses associated with landslides. Opinions and perceptions from practitioners on the performance of landslide risk management can provide insights on areas for improvement in the landslide risk management strategies in Norway. The Risk Management Index (RMI), proposed by Cardona et al. (2004), is a well-established method to measure perceptions of disaster management of selected actors holistically. The RMI is measured based on opinion questionnaires to technical staff, decision-makers, and stakeholders involved in all stages of risk reduction strategies. It is a composite index that considers a wide variety of strategies to manage risks, including structural and non-structural measures, acceptance strategies, disaster management, and risk transfer. The RMI method was modified to be implemented in landslide hazards and to fit with Norwegian conditions. An opinion survey was conducted in autumn 2015 to measure perceptions of landslide risk management in Norway. Perceptions were surveyed for two time periods: 2015 and 2050, and are based on national, county, and municipality levels. Based on the survey results, performance of landslide risk management at any administrative levels in Norway is perceived to improve from `significant' in 2015 to `significant' to `outstanding' in 2050. Knowledge and technology, climate, risk perceptions, and anthropogenic activities are mostly considered by respondents for their 2050 perceptions. Several aspects of landslide risk management in Norway can be improved. For example, landslide hazard evaluation and mapping should be prioritised in Norway. Upgrading, retrofitting, and reconstruction of assets may also be included in the landslide risk reduction strategies. In addition, there should be more focus on inter

  9. Drought's legacy: multiyear hydraulic deterioration underlies widespread aspen forest die-off and portends increased future risk.

    Science.gov (United States)

    Anderegg, William R L; Plavcová, Lenka; Anderegg, Leander D L; Hacke, Uwe G; Berry, Joseph A; Field, Christopher B

    2013-04-01

    Forest mortality constitutes a major uncertainty in projections of climate impacts on terrestrial ecosystems and carbon-cycle feedbacks. Recent drought-induced, widespread forest die-offs highlight that climate change could accelerate forest mortality with its diverse and potentially severe consequences for the global carbon cycle, ecosystem services, and biodiversity. How trees die during drought over multiple years remains largely unknown and precludes mechanistic modeling and prediction of forest die-off with climate change. Here, we examine the physiological basis of a recent multiyear widespread die-off of trembling aspen (Populus tremuloides) across much of western North America. Using observations from both native trees while they are dying and a rainfall exclusion experiment on mature trees, we measure hydraulic performance over multiple seasons and years and assess pathways of accumulated hydraulic damage. We test whether accumulated hydraulic damage can predict the probability of tree survival over 2 years. We find that hydraulic damage persisted and increased in dying trees over multiple years and exhibited few signs of repair. This accumulated hydraulic deterioration is largely mediated by increased vulnerability to cavitation, a process known as cavitation fatigue. Furthermore, this hydraulic damage predicts the probability of interyear stem mortality. Contrary to the expectation that surviving trees have weathered severe drought, the hydraulic deterioration demonstrated here reveals that surviving regions of these forests are actually more vulnerable to future droughts due to accumulated xylem damage. As the most widespread tree species in North America, increasing vulnerability to drought in these forests has important ramifications for ecosystem stability, biodiversity, and ecosystem carbon balance. Our results provide a foundation for incorporating accumulated drought impacts into climate-vegetation models. Finally, our findings highlight the

  10. Hydraulic manipulator research at ORNL

    International Nuclear Information System (INIS)

    Kress, R.L.; Jansen, J.F.; Love, L.J.

    1997-01-01

    Recently, task requirements have dictated that manipulator payload capacity increase to accommodate greater payloads, greater manipulator length, and larger environmental interaction forces. General tasks such as waste storage tank cleanup and facility dismantlement and decommissioning require manipulator life capacities in the range of hundreds of pounds rather than tens of pounds. To meet the increased payload capacities demanded by present-day tasks, manipulator designers have turned once again to hydraulics as a means of actuation. In order to successfully design, build, and deploy a new hydraulic manipulator (or subsystem), sophisticated modeling, analysis, and control experiments are usually needed. Oak Ridge National Laboratory (ORNL) has a history of projects that incorporate hydraulics technology, including mobile robots, teleoperated manipulators, and full-scale construction equipment. In addition, to support the development and deployment of new hydraulic manipulators, ORNL has outfitted a significant experimental laboratory and has developed the software capability for research into hydraulic manipulators, hydraulic actuators, hydraulic systems, modeling of hydraulic systems, and hydraulic controls. The purpose of this article is to describe the past hydraulic manipulator developments and current hydraulic manipulator research capabilities at ORNL. Included are example experimental results from ORNL's flexible/prismatic test stand

  11. Hydraulic manipulator research at ORNL

    Energy Technology Data Exchange (ETDEWEB)

    Kress, R.L.; Jansen, J.F. [Oak Ridge National Lab., TN (United States); Love, L.J. [Oak Ridge Inst. for Science and Education, TN (United States)

    1997-03-01

    Recently, task requirements have dictated that manipulator payload capacity increase to accommodate greater payloads, greater manipulator length, and larger environmental interaction forces. General tasks such as waste storage tank cleanup and facility dismantlement and decommissioning require manipulator life capacities in the range of hundreds of pounds rather than tens of pounds. To meet the increased payload capacities demanded by present-day tasks, manipulator designers have turned once again to hydraulics as a means of actuation. In order to successfully design, build, and deploy a new hydraulic manipulator (or subsystem), sophisticated modeling, analysis, and control experiments are usually needed. Oak Ridge National Laboratory (ORNL) has a history of projects that incorporate hydraulics technology, including mobile robots, teleoperated manipulators, and full-scale construction equipment. In addition, to support the development and deployment of new hydraulic manipulators, ORNL has outfitted a significant experimental laboratory and has developed the software capability for research into hydraulic manipulators, hydraulic actuators, hydraulic systems, modeling of hydraulic systems, and hydraulic controls. The purpose of this article is to describe the past hydraulic manipulator developments and current hydraulic manipulator research capabilities at ORNL. Included are example experimental results from ORNL`s flexible/prismatic test stand.

  12. Maintenance risk management in Dayabay nuclear power plant

    International Nuclear Information System (INIS)

    He Xuhong; Tong Jiejuan

    2005-01-01

    The importance of proper maintenance to safe and reliable nuclear plant operation has long been recognized by the nuclear utility and regulatory body. This paper presents a process of maintenance risk management developed for a Chinese Nuclear Power Plant (NPP). The process includes three phases: (I) long term maintenance plan risk management, (II) monthly maintenance plan risk management, and (III) detailed risk management for high risk configuration. A risk matrix is developed for phase I whose purpose is to provide a rough guide for risk management in the making of the annual maintenance plan. For Phase II and Phase III, a software tool named Maintenance- Risk-Monitor is developed based on the internal initiating event, level 1 PSA model. The results of Phase II are the risk information of the all plant configurations caused by the unavailability of the components included the monthly maintenance plan. When the increase of core damage frequency (CDF) or the incremental core damage probability (ICDP) of a configuration is higher than the corresponding thresholds, Phase III is needed for this high risk configuration to get the useful information such as risk-importance components, human actions and initial events, from which appropriate preventive measurements could be derived. It is hoped that the provided process of maintenance risk management, together with the developed software tool, could facilitate the maintenance activities in the NPPs of China. (authors)

  13. Developing risk management dashboards using risk and quality measures: A visual best practices approach.

    Science.gov (United States)

    Bunting, Robert F; Siegal, Dana

    2017-10-01

    Because quality measures are ubiquitous, health care risk management leaders often use them as a proxy for risk management measures. While certain quality measures adequately reflect some aspects of risk management, they are neither a perfect nor complete substitute for well-developed and comprehensive risk management measures. Using a comprehensive approach consisting of quality measures, risk measures, and measures that are less amenable to classification would be the best approach. Identifying the most powerful and informative measures, designing the most appropriate dashboards, and incorporating visual best practices are crucial steps required for evaluating the effectiveness and value of an enterprise risk management program. The authors explain the terms and concepts, review the measures available in the literature, propose new measures, discuss visual best practices, and provide sample dashboard components. © 2017 American Society for Healthcare Risk Management of the American Hospital Association.

  14. Method for achieving hydraulic balance in typical Chinese building heating systems by managing differential pressure and flow

    DEFF Research Database (Denmark)

    Zhang, Lipeng; Xia, Jianjun; Thorsen, Jan Eric

    2017-01-01

    to a lack of pressure and flow control. This study investigated using pre-set radiator valves combined with differential pressure (DP) controllers to achieve hydraulic balance in building distribution systems, and consequently save energy and reduce the emissions. We considered a multi-storey building......Hydraulic unbalance is a common problem in Chinese district heating (DH) systems. Hydraulic unbalance has resulted in poor flow distribution among heating branches and overheating of apartments. Studies show that nearly 30% of the total heat supply is being wasted in Chinese DH systems due...... modelled in the IDA-ICE software, along with a self-developed mathematical hydraulic model to simulate its heat performance and hydraulic performance with various control scenarios. In contrast to the situation with no pressure or flow control, this solution achieves the required flow distribution...

  15. Risk Management and Financial Derivatives: An Overview

    NARCIS (Netherlands)

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

    2012-01-01

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

  16. Risk management and internal audit: Evidence from Greece

    Directory of Open Access Journals (Sweden)

    George Drogalas

    2017-07-01

    Full Text Available Risk management is ranked by financial executives as one of their most important objectives. For this reason, a wide range of literature on risk management has been developed. Within this fluid business environment, internal audit plays a key role in monitoring a company’s risk profile and identifying areas for improving risk management processes. The purpose of this study is to provide a comprehensive overview of the factors that impact on risk management regarding internal audit function. Empirical evidence was collected by means of a mailed survey. Regression analysis is used in order to illustrate the information gathered. Consistent with theory and our expectations, the results indicate that internal audit, internal auditor and added value of internal audit are statistically significantly associated with risk management.

  17. Radiation risk management at DOE accelerator facilities

    International Nuclear Information System (INIS)

    Dyck, O.B. van.

    1997-01-01

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

  18. Risk and Work Configuration Management as a Function of Integrated Safety Management

    International Nuclear Information System (INIS)

    Lana Buehrer; Michele Kelly; Fran Lemieux; Fred Williams

    2007-01-01

    National Security Technologies, LLC (NSTec), has established a work management program and corresponding electronic Facilities and Operations Management Information System (e-FOM) to implement Integrated Safety Management (ISM). The management of work scopes, the identification of hazards, and the establishment of implementing controls are reviewed and approved through electronic signatures. Through the execution of the program and the implementation of the electronic system, NSTec staff work within controls and utilize feedback and improvement process. The Integrated Work Control Manual further implements the five functions of ISM at the Activity level. By adding the Risk and Work Configuration Management program, NSTec establishes risk acceptance (business and physical) for liabilities within the performance direction and work management processes. Requirements, roles, and responsibilities are specifically identified in the program while e-FOM provides the interface and establishes the flowdown from the Safety Chain to work and facilities management processes to company work-related directives, and finally to Subject Matter Expert concurrence. The Program establishes, within the defined management structure, management levels for risk identification, risk mitigation (controls), and risk acceptance (business and physical) within the Safety Chain of Responsibility. The Program also implements Integrated Safeguards and Security Management within the NSTec Safety Chain of Responsibility. Once all information has been entered into e-FOM, approved, and captured as data, the information becomes searchable and sortable by hazard, location, organization, mitigating controls, etc

  19. Operation of a T63 Turbine Engine Using F24 Contaminated Skydrol 5 Hydraulic Fluid

    Science.gov (United States)

    2016-09-01

    hydraulic fluids were originally developed by the Douglas Aircraft Company during the 1940s to reduce fire risk from leaking high pressure mineral oil...thermal load demands in modern hydraulic systems and reduced density to lower weight impact on the aircraft. Eastman Chemical is the current producer of...AFRL-RQ-WP-TM-2016-0155 OPERATION OF A T63 TURBINE ENGINE USING F24 CONTAMINATED SKYDROL 5 HYDRAULIC FLUID Matthew J. Wagner (AFRL/RQTM) James

  20. Risk management for industrial safety

    International Nuclear Information System (INIS)

    Novogno, A.

    1989-01-01

    The catastrophic accidents which have occurred in the last decade, in both developed and developing countries, have drawn the attention of decision-makers in the safety area to the urgent necessity to assess and manage risks from hazardous industrial activities which are concentrated in large industrialized areas. The aim of this paper is to review experience gained in conducting studies in the area of 'comparisons of risks in energy systems' and on the practical application of 'cost effectiveness of risk reduction analysis among different energy systems' (case studies). It is also the aim of the paper to discuss and propose a general framework for defining an 'integrated approach' to risk assessment and management in highly industrialized regions within a country. (author)

  1. A view on risk management

    International Nuclear Information System (INIS)

    Joksimovich, V.

    1991-01-01

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

  2. Handbook of hydraulic fluid technology

    CERN Document Server

    Totten, George E

    2011-01-01

    ""The Handbook of Hydraulic Fluid Technology"" serves as the foremost resource for designing hydraulic systems and for selecting hydraulic fluids used in engineering applications. Featuring new illustrations, data tables, as well as practical examples, this second edition is updated with essential information on the latest hydraulic fluids and testing methods. The detailed text facilitates unparalleled understanding of the total hydraulic system, including important hardware, fluid properties, and hydraulic lubricants. Written by worldwide experts, the book also offers a rigorous overview of h

  3. Analysis of interactions among barriers in project risk management

    Science.gov (United States)

    Dandage, Rahul V.; Mantha, Shankar S.; Rane, Santosh B.; Bhoola, Vanita

    2018-03-01

    In the context of the scope, time, cost, and quality constraints, failure is not uncommon in project management. While small projects have 70% chances of success, large projects virtually have no chance of meeting the quadruple constraints. While there is no dearth of research on project risk management, the manifestation of barriers to project risk management is a less dwelt topic. The success of project management is oftentimes based on the understanding of barriers to effective risk management, application of appropriate risk management methodology, proactive leadership to avoid barriers, workers' attitude, adequate resources, organizational culture, and involvement of top management. This paper represents various risk categories and barriers to risk management in domestic and international projects through literature survey and feedback from project professionals. After analysing the various modelling methods used in project risk management literature, interpretive structural modelling (ISM) and MICMAC analysis have been used to analyse interactions among the barriers and prioritize them. The analysis indicates that lack of top management support, lack of formal training, and lack of addressing cultural differences are the high priority barriers, among many others.

  4. Application of Risk Assessment Tools in the Continuous Risk Management (CRM) Process

    Science.gov (United States)

    Ray, Paul S.

    2002-01-01

    Marshall Space Flight Center (MSFC) of the National Aeronautics and Space Administration (NASA) is currently implementing the Continuous Risk Management (CRM) Program developed by the Carnegie Mellon University and recommended by NASA as the Risk Management (RM) implementation approach. The four most frequently used risk assessment tools in the center are: (a) Failure Modes and Effects Analysis (FMEA), Hazard Analysis (HA), Fault Tree Analysis (FTA), and Probabilistic Risk Analysis (PRA). There are some guidelines for selecting the type of risk assessment tools during the project formulation phase of a project, but there is not enough guidance as to how to apply these tools in the Continuous Risk Management process (CRM). But the ways the safety and risk assessment tools are used make a significant difference in the effectiveness in the risk management function. Decisions regarding, what events are to be included in the analysis, to what level of details should the analysis be continued, make significant difference in the effectiveness of risk management program. Tools of risk analysis also depends on the phase of a project e.g. at the initial phase of a project, when not much data are available on hardware, standard FMEA cannot be applied; instead a functional FMEA may be appropriate. This study attempted to provide some directives to alleviate the difficulty in applying FTA, PRA, and FMEA in the CRM process. Hazard Analysis was not included in the scope of the study due to the short duration of the summer research project.

  5. Risk managements' communicative effects influencing IT project success

    NARCIS (Netherlands)

    de Bakker, Karel; Boonstra, Albert; Wortmann, Hans

    The central question of this research is if, and how, risk management contributes to the success of IS/IT projects. Risk management is used regularly in IT projects, despite indications in literature that risk management only occasionally contributes to IT project success. Drawing on Habermas we

  6. Business intelligence for improving supply chain risk management

    NARCIS (Netherlands)

    Liu, L.; Daniels, H.A.M.; van Oosterhout, M.; van Dalen, J.

    2014-01-01

    The risk management over a supply chain has to be founded on the risk management in each of partner companies in the chain. The business relationship and operations dependence inevitably bind the management control efforts of partner companies together. This proposes challenges for supply chain risk

  7. 7 CFR 760.104 - Risk management purchase requirements.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Risk management purchase requirements. 760.104 Section... Agricultural Disaster Assistance Programs § 760.104 Risk management purchase requirements. (a) To be eligible... available from the USDA Risk Management Agency (RMA)) obtained catastrophic coverage or better under a...

  8. Practical Risk Management for the CIO

    CERN Document Server

    Scherling, Mark

    2007-01-01

    The growing complexity of today's interconnected systems has not only increased the need for improved information security, but also helped to move information from the IT backroom to the executive boardroom as a strategic asset. And, just like the tip of an iceberg is all you see until you run into it, the risks to your information are mostly invisible until disaster strikes. Detailing procedures that will help your team perform better risk assessments and aggregate results into more meaningful metrics, Practical Risk Management for the CIO approaches information risk management through impro

  9. Risk in Management Systems according to ISO standard

    Directory of Open Access Journals (Sweden)

    P. Królas

    2010-07-01

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

  10. Model risk analysis for risk management and option pricing

    NARCIS (Netherlands)

    Kerkhof, F.L.J.

    2003-01-01

    Due to the growing complexity of products in financial markets, market participants rely more and more on quantitative models for trading and risk management decisions. This introduces a fairly new type of risk, namely, model risk. In the first part of this thesis we investigate the quantitative

  11. Risk Management for New Product Development Projects in Food Industry

    Directory of Open Access Journals (Sweden)

    Porananond, D.

    2014-07-01

    Full Text Available Project risk management provides a guideline for decision making in new product development (NPD projects, reducing uncertainty and increasing success rate. However, the acceptance of formal risk management applications in industry, especially for NPD projects is still in question. A study of a food conglomerate in Thailand found that only 9% of NPD projects used a systematic approach for managing risk. 61% of the projects realised the importance of risk management, while the remaining 30% did not involve risk management at all. This study aims to develop a risk management model for NPD projects in the food industry. The first section of this paper reviews the literature on risk management theory, including international standards for risk and project management (ISO31000 and ISO21500, publications for the Project Management Body of Knowledge (PMBOK, by a professional organisation the Project Management Institute (PMI, and also academic research. 182 academic papers, published between January 2002 and August 2012 were selected. The second part interviews conducted with eight NPD experts from five of the major food manufacturers in Thailand to examine their risk management practices and problems. Conclusions are made on five topics : classification of research method, project type and industrial segment, distribution of articles by region, tools & techniques for risk management and risk factors in projects. Specific requirements of risk management for NPD projects in the food industry are identified. A risk management model and the concept of risk management applications for the food industry are proposed.

  12. Climate Change Risk Management: CRE Adaptation Projects and the Risk Management Process

    Science.gov (United States)

    This document describes National Estuary Program partner projects that demonstrate how risk management can be successfully applied to address environmental challenges in our country’s coastal areas.

  13. Risk management - unappreciated instrument of supply chain management strategy

    OpenAIRE

    Wojciech Machowiak

    2012-01-01

    Background: Unlike Enterprise Risk Management, which is certainly quite well rooted in business practice, Supply Chain Risk Management (SCRM) still continues to be dynamically developing subject of academic research, whereas its practical applications are rather scarce. Material and methods: On the basis of broad review of the current state of the art in world literature, significant  relevancies to the core processes and enterprise strategy are discussed.   Results: ...

  14. Hydraulic characterization of " Furcraea andina

    Science.gov (United States)

    Rivera-Velasquez, M. F.; Fallico, C.; Molinari, A.; Santillan, P.; Salazar, M.

    2012-04-01

    The present level of pollution, increasingly involving groundwaters, constitutes a serious risk for environment and human health. Therefore the remediation of saturated and unsaturated soils, removing pollutant materials through innovative and economic bio-remediation techniques is more frequently required. Recent studies on natural fiber development have shown the effectiveness of these fibers for removal of some heavy metals, due to the lignin content in the natural fibers which plays an important role in the adsorption of metal cations (Lee et al., 2004; Troisi et al., 2008; C. Fallico, 2010). In the context of remediation techniques for unsaturated and/or saturated zone, an experimental approach for the hydraulic characterization of the "Furcraea andina" (i.e., Cabuya Blanca) fiber was carried out. This fiber is native to Andean regions and grows easily in wild or cultivated form in the valleys and hillsides of Colombia, Ecuador, and Peru. Fibers of "Furcraea andina" were characterized by experimental tests to determine their hydraulic conductivity or permeability and porosity in order to use this medium for bioremediation of contaminated aquifer exploiting the physical, chemical and microbial capacity of natural fiber in heavy metal adsorption. To evaluate empirically the hydraulic conductivity, laboratory tests were carried out at constant head specifically on the fibers manually extracted. For these tests we used a flow cell (used as permeameter), containing the "Furcraea andina" fibers to be characterized, suitably connected by a tygon pipe to a Marriott's bottle, which had a plastic tube that allow the adjustment of the hydraulic head for different tests to a constant value. By this experiment it was also possible to identify relationships that enable the estimation of permeability as a function of density, i.e. of the compaction degree of the fibers. Our study was carried out for three values of hydraulic head (H), namely 10, 18, and 25 cm and for each

  15. CONSIDERATIONS ON RISK MANAGEMENT APPLIED TO FOREST FIRES

    Directory of Open Access Journals (Sweden)

    Ioan Valentin Marcel Posea

    2016-07-01

    Full Text Available Forest risk and management are ubiquitous in any socio-economic activity. Forestry, more than any other field, is at risk from fire. Consequently, it appears the necessity to implement a fire risk management that could resolve, at least partially, the specific problems. This study attempts to identify the specific stages and processes of forest fire risk management and their content. At the same time, I will try to highlight how a forest fire risk management process planning can be achieved and to present a way of achieving the Plan. I also deem necessary a forest fire risk monitoring and control system that I have built using the Deming cycle.

  16. Old wine in new bottles: The adaptive capacity of the hydraulic mission in Ecuador

    Directory of Open Access Journals (Sweden)

    Jeroen F. Warner

    2017-06-01

    Full Text Available Despite a widely embraced ecological turn and strident critique of megastructures in the 1990s, construction of large infrastructure has been reignited worldwide. While Integrated Water Resources Management (IWRM and River Basin Management (RBM have at least discursively held sway as the dominant paradigm in water management since the late 1990s, we argue that the 'hydraulic mission' never really went away and has in some places energetically re-emerged. The development discourse that justified many dams in the past is now supplemented by a new set of appealing justifiers. With the help of the case of Ecuador we show that the hegemonic project of the hydraulic mission has a great discursive adaptive capacity and a new set of allies. The rise of the BRICS (especially China, South-South cooperation and private investors provides non-traditional sources of funding, making the construction of hydraulic infrastructure less dependent on Western conditionalities. The resulting governance picture highlights the disconnect between the still widely embraced policy discourse of IWRM/RBM and the drivers and practices of the hydraulic mission; questioning what value international calls for 'good water governance' have in the midst of new discourses, broader transnational political projects and the powerful dam-building alliances that underlie them.

  17. Methodology of environmental risk assessment management

    Directory of Open Access Journals (Sweden)

    Saša T. Bakrač

    2012-04-01

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

  18. Living with risk: a management question

    International Nuclear Information System (INIS)

    Ale, Ben J.M.

    2005-01-01

    Public authorities started to be really involved in risk management of hazardous materials some 30 years ago. Recent developments have led to fresh attention for this matter and many further developments are underway. The history of risk management and safety regulation is one of strongly variable interest, forgotten lessons and rude awakenings. The impetus exerted by accidents is short lived. Safety cases become documents to satisfy regulation rather than instruments to reduce risk. Deregulation, privatisation, and outsourcing pose new challenges to safety and risk management. Some of the unfortunate side effects have already become apparent. This invariably leads to the next disaster, which will have a striking resemblance to the previous one when abstracted from the immediate technological context. Lessons can be learned if we really want. The question remains: 'Do we?'

  19. Probability distributions in risk management operations

    CERN Document Server

    Artikis, Constantinos

    2015-01-01

    This book is about the formulations, theoretical investigations, and practical applications of new stochastic models for fundamental concepts and operations of the discipline of risk management. It also examines how these models can be useful in the descriptions, measurements, evaluations, and treatments of risks threatening various modern organizations. Moreover, the book makes clear that such stochastic models constitute very strong analytical tools which substantially facilitate strategic thinking and strategic decision making in many significant areas of risk management. In particular the incorporation of fundamental probabilistic concepts such as the sum, minimum, and maximum of a random number of continuous, positive, independent, and identically distributed random variables in the mathematical structure of stochastic models significantly supports the suitability of these models in the developments, investigations, selections, and implementations of proactive and reactive risk management operations. The...

  20. Benchmarking Outdoor Expeditionary Program Risk Management Strategies

    Science.gov (United States)

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

    2017-01-01

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

  1. Risk taking and effective R&D management.

    Science.gov (United States)

    Banholzer, William F; Vosejpka, Laura J

    2011-01-01

    Several key strategies can be used to manage the risk associated with innovation to create maximum value. These include balancing the timing of investments versus cash flows, management of fads, prioritization across the company, savvy portfolio management, and a system of metrics that measure real success. Successful R&D managers will do whatever is necessary to manage the risks associated with an R&D program and stick to their long-term strategy.

  2. How Can Every Organization Manage the Operational Risk?

    Directory of Open Access Journals (Sweden)

    Ferry Jie

    2002-03-01

    Full Text Available This article describe how every organization (generally and Australian Organizations (specifically can manage the operational risks.  Recently, the operational risks are the significant issues in every organization because every organization will suffer from poor operational performance due to risks, failure, and problems such as a number of losses which are likely to be made worse. Basically, the operational risk management process has five steps, identification, analysis, treatment, controlling, and communication/consulting. Generally, many organizations (in particularly in Australia and New Zealand have already used AS/NZS 4360-Risk Management System, AS/NZS 4801-Occupational Health and Safety Management System, ISO 14001: Effective Environmental Management System, ISO 9001: Quality Management System, AS/NZS 7799: Information Security Management, AS/NZS 3806: Compliance Management System for reducing/mitigating/managing the operational risks. Based on the SAI Certification Register, the number of Australian Organizations got the AS/NZS ISO 9000 series, AS/NZS 14000 series, AS/NZS 4801 and AS/NZS 7799.2:2000 Certifications are 3338, 30, 20 and 5 respectively. It can conclude that Australian Organizations prefer used AS/NZS ISO 9000 series rather than AS/NZS ISO 14000 series, AS/NZS 4801 and AS/NZS 7799.2:2000.

  3. Feedback on flood risk management

    Science.gov (United States)

    Moreau, K.; Roumagnac, A.

    2009-09-01

    For several years, as floods were increasing in South of France, local communities felt deprive to assume their mission of protection and information of citizens, and were looking for assistance in flood management. In term of flood disaster, the fact is that physical protection is necessary but inevitably limited. Tools and structures of assistance to anticipation remain slightly developed. To manage repeated crisis, local authorities need to be able to base their policy against flood on prevention, warnings, post-crisis analysis and feedback from former experience. In this objective, after 3 years of test and improvement since 2003, the initiative Predict-Services was developped in South of France: it aims at helping communities and companies to face repeated flood crisis. The principle is to prepare emergency plans, to organize crisis management and reduce risks; to help and assist communities and companies during crisis to activate and adapt their emergency plans with enough of anticipation; and to analyse floods effects and improve emergency plans afterwards. In order to reduce risks, and to keep the benefits of such an initiative, local communities and companies have to maintain the awareness of risk of the citizens and employees. They also have to maintain their safety plans to keep them constantly operational. This is a part of the message relayed. Companies, Local communities, local government authorities and basin stakeholders are the decision makers. Companies and local communities have to involve themselves in the elaboration of safety plans. They are also completely involved in their activation that is their own responsability. This applies to other local government authorities, like districts one's and basin stakeholders, which participle in the financing community safety plans and adminitrative district which are responsible of the transmission of meteorological alert and of rescue actions. In the crossing of the géo-information stemming from the

  4. 2015/2016 Quality Risk Management Benchmarking Survey.

    Science.gov (United States)

    Waldron, Kelly; Ramnarine, Emma; Hartman, Jeffrey

    2017-01-01

    This paper investigates the concept of quality risk management (QRM) maturity as it applies to the pharmaceutical and biopharmaceutical industries, using the results and analysis from a QRM benchmarking survey conducted in 2015 and 2016. QRM maturity can be defined as the effectiveness and efficiency of a quality risk management program, moving beyond "check-the-box" compliance with guidelines such as ICH Q9 Quality Risk Management , to explore the value QRM brings to business and quality operations. While significant progress has been made towards full adoption of QRM principles and practices across industry, the full benefits of QRM have not yet been fully realized. The results of the QRM Benchmarking Survey indicate that the pharmaceutical and biopharmaceutical industries are approximately halfway along the journey towards full QRM maturity. LAY ABSTRACT: The management of risks associated with medicinal product quality and patient safety are an important focus for the pharmaceutical and biopharmaceutical industries. These risks are identified, analyzed, and controlled through a defined process called quality risk management (QRM), which seeks to protect the patient from potential quality-related risks. This paper summarizes the outcomes of a comprehensive survey of industry practitioners performed in 2015 and 2016 that aimed to benchmark the level of maturity with regard to the application of QRM. The survey results and subsequent analysis revealed that the pharmaceutical and biopharmaceutical industries have made significant progress in the management of quality risks over the last ten years, and they are roughly halfway towards reaching full maturity of QRM. © PDA, Inc. 2017.

  5. Lessons Learned in Risk Management on NCSX

    International Nuclear Information System (INIS)

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

    2010-01-01

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

  6. Lessons Learned in Risk Management on NCSX

    International Nuclear Information System (INIS)

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

    2009-01-01

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

  7. THE MANAGEMENT OF RISKS IN BUSINESS AND IN THE MANAGEMENT OF HUMAN RESOURCES

    Directory of Open Access Journals (Sweden)

    Reta CONDEI

    2014-10-01

    Full Text Available The characteristics of market economy and coordinates of modern life have determinate both individual level and organizations increase of number of risk who can affect us, of their dimensions and of the consequences which induce them, but at the same time a highest need of firm security. In economic and financial department was develop an entire area –management risk and many financial instruments to reduce or diminish risk. The behaviour of economical agents respectively of the entrepreneurs and managers is different according to the risk in many respects: risk adversaries unaffected to risk and risk belovers who leave mark on decisions take it. Management risk is an cyclical process with distinct stages: risk identification, risk analyses and risk reactions. The management of this phenomenon goes from this context and the firm objectives, analyse the risk factors into a security conception having the purpose to minimize the risks and the cost. The policies of occupational safety and health at the level of the organization must include information regarding: the general security and health policy at work; the specific risks and the way of dealing with them; the responsibility of the managers in this field; the measures of implementation of these policies and must be based on: Employee safety is very important; Safety is prior to efficiency; Employee safety leads to advantages and efficiency; Respecting the regulations

  8. 7 CFR 2.44 - Administrator, Risk Management Agency and Manager, Federal Crop Insurance Corporation.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 1 2010-01-01 2010-01-01 false Administrator, Risk Management Agency and Manager... Secretary for Farm and Foreign Agricultural Services to the Administrator, Risk Management Agency, and... for the transaction of the business of the Federal Crop Insurance Corporation and the Risk Management...

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

    Directory of Open Access Journals (Sweden)

    Natalya Pavlovna Pazdnikova

    2014-09-01

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

  10. Dam break modelling, risk assessment and uncertainty analysis for flood mitigation

    NARCIS (Netherlands)

    Zagonjolli, M.

    2007-01-01

    In this thesis a range of modelling techniques is explored to deal effectively with flood risk management. In particular, attention is paid to floods caused by failure of hydraulic structures such as dams and dikes. The methods considered here are applied for simulating dam and dike failure events,

  11. Evaluation of Fish Passage at Whitewater Parks Using 2D and 3D Hydraulic Modeling

    Science.gov (United States)

    Hardee, T.; Nelson, P. A.; Kondratieff, M.; Bledsoe, B. P.

    2016-12-01

    In-stream whitewater parks (WWPs) are increasingly popular recreational amenities that typically create waves by constricting flow through a chute to increase velocities and form a hydraulic jump. However, the hydraulic conditions these structures create can limit longitudinal habitat connectivity and potentially inhibit upstream fish migration, especially of native fishes. An improved understanding of the fundamental hydraulic processes and potential environmental effects of whitewater parks is needed to inform management decisions about Recreational In-Channel Diversions (RICDs). Here, we use hydraulic models to compute a continuous and spatially explicit description of velocity and depth along potential fish swimming paths in the flow field, and the ensemble of potential paths are compared to fish swimming performance data to predict fish passage via logistic regression analysis. While 3d models have been shown to accurately predict trout movement through WWP structures, 2d methods can provide a more cost-effective and manager-friendly approach to assessing the effects of similar hydraulic structures on fish passage when 3d analysis in not feasible. Here, we use 2d models to examine the hydraulics in several WWP structures on the North Fork of the St. Vrain River at Lyons, Colorado, and we compare these model results to fish passage predictions from a 3d model. Our analysis establishes a foundation for a practical, transferable and physically-rigorous 2d modeling approach for mechanistically evaluating the effects of hydraulic structures on fish passage.

  12. COMPLIANCE AS FACTORING BUSINESS RISK MANAGEMENT: CONTROL ASPECTS

    Directory of Open Access Journals (Sweden)

    V.K. Makarovych

    2016-03-01

    Full Text Available Indetermination of modern economy conditions and the lack of theoretical knowledge gained by domestic scientists about risk in factoring business actualize the research concerning the methodology and technique of factoring companies’ risk management. The article examines compliance which is the technology innovative for Ukrainian market of factoring risk management technologies. It is determined that the compliance is the risk management process directed to free will correspondence to state, international legislation as well as to the ethics standards accepted in the field of regulated legal relations and to the traditions of business circulation to sustain the necessary regulations and standards of market behaviour, and to consolidate the image of a factoring company. Compliance risks should be understood as the risks of missed profit or losses caused by the conflicts of interests and the discrepancy of employees’ actions to internal and external standard documents. The attention is paid to the control over the compliance. The author singles out 3 kinds of the compliance control such as institutional, operational and the compliance control over the observance of conducting business professional ethics regulations which are necessary for providing of efficient management of factoring business risks. The paper shows the organizing process of factoring business compliance control (by the development of internal standard documents, a compliance program, the foundation of compliance control subdivision, monitoring of the risks cause the choice, made by management entities of a factoring company, of the management methods of risks for their business. The development of new and improvement of existed forms of compliance control organizing process help satisfy users’ information needs and requests of the risk management factoring company department. The suggestions proposed create the grounds for the transformation and improvement of factoring

  13. Managing Communities – Mining MNEs’ Community Risk Management Practices

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    This PhD reflects the effort to close a gap in the multinational enterprise (MNE) risk management literature on the identification and mitigation of risk arising from local communities. Small villages and towns that are situated geographically close to the MNEs’ place of operation have increasingly......-to-date information about mining MNE operations. This improved outreach has meant that mines have been closed due to conflicts with local communities and therefor a need had arisen for MNEs to implement management practices that can effectively mitigate these types of risks....... been identified as a source of risk (BSR, 2003; ICMM, 2015). The mining industry is one of the most exposed to risks from local communities, where there historically have been many conflicts between mine owners on one side and the people living close to the mine on the other (Godoy, 1985; Hoskin, 1912...

  14. ECU@Risk, a methodology for risk management applied to MSMEs

    Directory of Open Access Journals (Sweden)

    Esteban Crespo Martínez

    2017-02-01

    Full Text Available Information is the most valuable element for any organization or person in this new century, which, for many companies, is a competitive advantage asset (Vásquez & Gabalán, 2015. However, despite the lack of knowledge about how to protect it properly or the complexity of international standards that indicate procedures to achieve an adequate level of protection, many organizations, especially the MSMEs sector, fails to achieve this goal.Therefore, this study proposes a methodology for information security risk management, which is applicable to the business and organizational environment of the Ecuadorian MSME sector. For this purpose, we analyze several methodologies as Magerit, CRAMM (CCTA Risk Analysis and Management Method, OCTAVE-S, Microsoft Risk Guide, COBIT 5 COSO III. These methodologies are internationally used in risk management of information; in the light of the frameworks of the industry: ISO 27001, 27002, 27005 and 31000.

  15. [MANAGEMENT OF HEALTHCARE WASTE IN THE HOSPITAL SETTING. UNDERSTANDING RISK MANAGEMENT].

    Science.gov (United States)

    Galimany-Masclans, Jordi; Torres-Egea, Pilar; Sancho-Agredano, Raúl; Girbau-García, Ma Rosa; Fabrellas, Núria; Torrens-Garcia, Ma Llum; Martínez-Estalella, Gemma

    2015-05-01

    The sanitary waste represents a potential hazard for health workers. Given the high risk of infection in labor accidents, the correct management of sanitary waste minimizes this risk and improves labor and environment conditions. To identify risk perception with health professionals in relation to the advanced sorting and management of healthcare waste (HW). The current study is a descriptive, cross-sectional. The sample size was 177 health workers (nurse assistants, nurses, physicians, lab technicians) from three hospitals in Barcelona (Catalonia). Homemade questionnaire and questions with a free and spontaneous association and incomplete sentences were used to analyze labor variables, perception of risk and personal security through a Likert scale. Using a score from 1 (the lowest perception of risk) to 5 (the high perception of risk) to assess the risk perception, the average value for nurse assistants, nurses, physicians, and lab technicians was 3.71, 3.75, 3.83 and 4.03, respectively. Referring to items with free and spontaneous response association, 44.8% of workers consider HW as a biohazard, 29.6% consider it as waste material, 22.1% state that it must be managed properly and 3.5% described it as unknown residues. The results suggest that all health professionals generally have a perception of high risk. The lab technicians have a higher perception of the real risk of inadequate management of HW A 63.2% report that everyone has to make a proper management to preserve their occupational health; the 59% consider that the HW are a biological risk to the general population and only the 47.8% that are harmful to public health. Although it should be noted that only 44.8% think that HW are toxic and dangerous.

  16. Risk Management Techniques and Practice Workshop Workshop Report

    Energy Technology Data Exchange (ETDEWEB)

    Quinn, T; Zosel, M

    2008-12-02

    At the request of the Department of Energy (DOE) Office of Science (SC), Lawrence Livermore National Laboratory (LLNL) hosted a two-day Risk Management Techniques and Practice (RMTAP) workshop held September 18-19 at the Hotel Nikko in San Francisco. The purpose of the workshop, which was sponsored by the SC/Advanced Scientific Computing Research (ASCR) program and the National Nuclear Security Administration (NNSA)/Advanced Simulation and Computing (ASC) program, was to assess current and emerging techniques, practices, and lessons learned for effectively identifying, understanding, managing, and mitigating the risks associated with acquiring leading-edge computing systems at high-performance computing centers (HPCCs). Representatives from fifteen high-performance computing (HPC) organizations, four HPC vendor partners, and three government agencies attended the workshop. The overall workshop findings were: (1) Standard risk management techniques and tools are in the aggregate applicable to projects at HPCCs and are commonly employed by the HPC community; (2) HPC projects have characteristics that necessitate a tailoring of the standard risk management practices; (3) All HPCC acquisition projects can benefit by employing risk management, but the specific choice of risk management processes and tools is less important to the success of the project; (4) The special relationship between the HPCCs and HPC vendors must be reflected in the risk management strategy; (5) Best practices findings include developing a prioritized risk register with special attention to the top risks, establishing a practice of regular meetings and status updates with the platform partner, supporting regular and open reviews that engage the interests and expertise of a wide range of staff and stakeholders, and documenting and sharing the acquisition/build/deployment experience; and (6) Top risk categories include system scaling issues, request for proposal/contract and acceptance testing, and

  17. TWRS safety and technical integration risk management plan

    International Nuclear Information System (INIS)

    Fordham, R.A.

    1996-01-01

    The objectives of the Tank Waste Remediation System (TWRS) Safety and Technical Integration (STI) programmatic risk management program are to assess, analyze, and handle risks associated with TWRS STI responsibilities and to communicate information about the actions being taken and the results to enable decision making. The objective of this TWRS STI Risk Management Plan is to communicate a consistent approach to risk management that will be used by the organization

  18. COMPLIANCE AS FACTORING BUSINESS RISK MANAGEMENT: CONTROL ASPECTS

    OpenAIRE

    V.K. Makarovych

    2016-01-01

    Indetermination of modern economy conditions and the lack of theoretical knowledge gained by domestic scientists about risk in factoring business actualize the research concerning the methodology and technique of factoring companies’ risk management. The article examines compliance which is the technology innovative for Ukrainian market of factoring risk management technologies. It is determined that the compliance is the risk management process directed to free will correspondence to sta...

  19. Hydraulic mechanism and time-dependent characteristics of loose gully deposits failure induced by rainfall

    Directory of Open Access Journals (Sweden)

    Yong Wu

    2015-12-01

    Full Text Available Failure of loose gully deposits under the effect of rainfall contributes to the potential risk of debris flow. In the past decades, researches on hydraulic mechanism and time-dependent characteristics of loose deposits failure are frequently reported, however adequate measures for reducing debris flow are not available practically. In this context, a time-dependent model was established to determine the changes of water table of loose deposits using hydraulic and topographic theories. In addition, the variation in water table with elapsed time was analyzed. The formulas for calculating hydrodynamic and hydrostatic pressures on each strip and block unit of deposit were proposed, and the slope stability and failure risk of the loose deposits were assessed based on the time-dependent hydraulic characteristics of established model. Finally, the failure mechanism of deposits based on infinite slope theory was illustrated, with an example, to calculate sliding force, anti-sliding force and residual sliding force applied to each slice. The results indicate that failure of gully deposits under the effect of rainfall is the result of continuously increasing hydraulic pressure and water table. The time-dependent characteristics of loose deposit failure are determined by the factors of hydraulic properties, drainage area of interest, rainfall pattern, rainfall duration and intensity.

  20. 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

  1. Using open source data for flood risk mapping and management in Brazil

    Science.gov (United States)

    Whitley, Alison; Malloy, James; Chirouze, Manuel

    2013-04-01

    Whitley, A., Malloy, J. and Chirouze, M. Worldwide the frequency and severity of major natural disasters, particularly flooding, has increased. Concurrently, countries such as Brazil are experiencing rapid socio-economic development with growing and increasingly concentrated populations, particularly in urban areas. Hence, it is unsurprising that Brazil has experienced a number of major floods in the past 30 years such as the January 2011 floods which killed 900 people and resulted in significant economic losses of approximately 1 billion US dollars. Understanding, mitigating against and even preventing flood risk is high priority. There is a demand for flood models in many developing economies worldwide for a range of uses including risk management, emergency planning and provision of insurance solutions. However, developing them can be expensive. With an increasing supply of freely-available, open source data, the costs can be significantly reduced, making the tools required for natural hazard risk assessment more accessible. By presenting a flood model developed for eight urban areas of Brazil as part of a collaboration between JBA Risk Management and Guy Carpenter, we explore the value of open source data and demonstrate its usability in a business context within the insurance industry. We begin by detailing the open source data available and compare its suitability to commercially-available equivalents for datasets including digital terrain models and river gauge records. We present flood simulation outputs in order to demonstrate the impact of the choice of dataset on the results obtained and its use in a business context. Via use of the 2D hydraulic model JFlow+, our examples also show how advanced modelling techniques can be used on relatively crude datasets to obtain robust and good quality results. In combination with accessible, standard specification GPU technology and open source data, use of JFlow+ has enabled us to produce large-scale hazard maps

  2. Sustainable flood risk management – What is sustainable?

    DEFF Research Database (Denmark)

    Sørup, Hjalte Jomo Danielsen; Brudler, Sarah; Lerer, Sara Maria

    2016-01-01

    Sustainable flood risk management has to be achieved since flood protection is a fundamental societal service that we must deliver. Based on the discourse within the fields of risk management and sustainable urban water management, we discuss the necessity of assessing the sustainability of flood...... risk management, and propose an evaluation framework for doing so. We argue that it is necessary to include quantitative sustainability measures in flood risk management in order to exclude unsustainable solutions. Furthermore, we use the concept of absolute sustainability to discuss the prospects...... of maintaining current service levels without compromising future generation’s entitlement of services. Discussions on the sustainability of different overall flood risk schemes must take place. Fundamental changes in the approaches will require fundamental changes in the mind-sets of practitioners as well...

  3. Hydraulic description of a flood event with optical remote sensors: a constructive constraint on modelling uncertainties

    Science.gov (United States)

    Battiston, Stéphanie; Allenbach, Bernard

    2010-05-01

    The exceptional characteristics of the December 2003 Rhône flood event (particularly high water flows, extent of the affected area, important damages especially in the region of Arles) make it be considered as a reference flood episode of this French river and a very well-known event. During the crisis, the International Charter "Space and Major Disasters" was triggered by the French Civil Protection for the rapid mapping of the flooding using Earth Observation imagery in order to facilitate crisis operations. As a result, more than 60 satellite images covering the flood were acquired over a 10 days period following the peak flow. Using the opportunity provided by this incomparable data coverage, the French Ministry of the Environment ordered a study on the evaluation of remote sensing's potential benefits for flood management. One of the questions asked by the risk managers was: what type of flood information can be provided by the different remote sensing platforms? Elements of response were delivered mainly in the form of a comprehensive compilation of maps and illustrations, displaying the main hydraulic elements (static ones as well as dynamic ones), initially listed and requested by hydrologists (more precisely, by a regional engineering society specialised in hydraulics and hydrology and in charge of a field campaign during the event), observed on different optical images of the flood event having affected the plain between Tarascon (upstream) and Arles (downstream). It is seen that a careful mapping of all flood traces visible on remote sensing event imagery - apparent water, moisture traces, breaches, overflows, stream directions, impermeable boundaries … - delivers a valuable vision of the flood's occurrence combining accuracy and comprehensiveness. In fact, optical imagery offers a detailed vision of the event : moisture traces complete flood traces extent; the observation of draw-off directions through waterproof barriers reveals hydraulic

  4. Risk Management - Variance Minimization or Lower Tail Outcome Elimination

    DEFF Research Database (Denmark)

    Aabo, Tom

    2002-01-01

    on future cash flows (the budget), while risk managers concerned about costly lower tail outcomes will hedge (considerably) less depending on the level of uncertainty. A risk management strategy of lower tail outcome elimination is in line with theoretical recommendations in a corporate value......This paper illustrates the profound difference between a risk management strategy of variance minimization and a risk management strategy of lower tail outcome elimination. Risk managers concerned about the variability of cash flows will tend to center their hedge decisions on their best guess......-adding perspective. A cross-case study of blue-chip industrial companies partly supports the empirical use of a risk management strategy of lower tail outcome elimination but does not exclude other factors from (co-)driving the observations....

  5. Thermal-hydraulics technological strategy roadmap for LWR safety improvement and development

    International Nuclear Information System (INIS)

    Nakamura, Hideo; Arai, Kenji; Oikawa, Hirohide

    2015-01-01

    New version of the Thermal-Hydraulics Safety Evaluation Fundamental Technology Enhancement Strategy Roadmap (TH-RM) was developed by the Atomic Energy Society of Japan (AESJ) for LWR safety improvement and development. The 1st version of TH-RM was prepared in 2009 under collaboration of utilities, vendors, universities, research institutes and technical support organizations (TSO) for regulatory body. The revision was made by three sub-working groups (SWGs) by considering the lessons learned from the Fukushima Daiichi Accident. The 'safety assessment' SWG pursued development of computer codes for safety assessment. The 'fundamental technology' SWG pursued safety improvement and risk reduction via accident management (AM) measures by referring the technical map for severe accident (SA) established by the 'severe accident' SWG. Phenomena and components for counter-measures and/or proper prediction are identified by going through SA progression in both reactor and spent-fuel pool of PWR and BWR. Twelve important technology development subjects were identified, which include melt coolability enhancement to maintain integrity of containment vessel. Fact Sheet was developed to describe each of identified and selected R and D subjects. External hazards are also considered how to cope with from thermal-hydraulic safety point of view. This paper summarizes the revised TH-RM with several examples and future perspectives. (author)

  6. Hydro-mechanical coupled simulation of hydraulic fracturing using the eXtended Finite Element Method (XFEM)

    Science.gov (United States)

    Youn, Dong Joon

    This thesis presents the development and validation of an advanced hydro-mechanical coupled finite element program analyzing hydraulic fracture propagation within unconventional hydrocarbon formations under various conditions. The realistic modeling of hydraulic fracturing is necessarily required to improve the understanding and efficiency of the stimulation technique. Such modeling remains highly challenging, however, due to factors including the complexity of fracture propagation mechanisms, the coupled behavior of fracture displacement and fluid pressure, the interactions between pre-existing natural and initiated hydraulic fractures and the formation heterogeneity of the target reservoir. In this research, an eXtended Finite Element Method (XFEM) scheme is developed allowing for representation of single or multiple fracture propagations without any need for re-meshing. Also, the coupled flows through the fracture are considered in the program to account for their influence on stresses and deformations along the hydraulic fracture. In this research, a sequential coupling scheme is applied to estimate fracture aperture and fluid pressure with the XFEM. Later, the coupled XFEM program is used to estimate wellbore bottomhole pressure during fracture propagation, and the pressure variations are analyzed to determine the geometry and performance of the hydraulic fracturing as pressure leak-off test. Finally, material heterogeneity is included into the XFEM program to check the effect of random formation property distributions to the hydraulic fracture geometry. Random field theory is used to create the random realization of the material heterogeneity with the consideration of mean, standard deviation, and property correlation length. These analyses lead to probabilistic information on the response of unconventional reservoirs and offer a more scientific approach regarding risk management for the unconventional reservoir stimulation. The new stochastic approach

  7. Risk management for buildings -- Has the time come?

    Energy Technology Data Exchange (ETDEWEB)

    Berry, D.L.; Hunter, R.L.

    1997-08-01

    There are both incentives and challenges for applying formal risk management processes to buildings and other structures, including bridges, highways, dams, stadiums, shopping centers, and private dwellings. Based on an assessment of several issues, the authors conclude that for certain types of buildings and structures the time has come for the use of a formal risk-management approach, including probabilistic risk assessment methods, to help identify dominant risks to public health, safety, and security and to help manage these risks in a cost-effective manner.

  8. ePORT, NASA's Computer Database Program for System Safety Risk Management Oversight (Electronic Project Online Risk Tool)

    Science.gov (United States)

    Johnson, Paul W.

    2008-01-01

    ePORT (electronic Project Online Risk Tool) provides a systematic approach to using an electronic database program to manage a program/project risk management processes. This presentation will briefly cover the standard risk management procedures, then thoroughly cover NASA's Risk Management tool called ePORT. This electronic Project Online Risk Tool (ePORT) is a web-based risk management program that provides a common framework to capture and manage risks, independent of a programs/projects size and budget. It is used to thoroughly cover the risk management paradigm providing standardized evaluation criterion for common management reporting, ePORT improves Product Line, Center and Corporate Management insight, simplifies program/project manager reporting, and maintains an archive of data for historical reference.

  9. Managing Programmatic Risk for Complex Space System Developments

    Science.gov (United States)

    Panetta, Peter V.; Hastings, Daniel; Brumfield, Mark (Technical Monitor)

    2001-01-01

    Risk management strategies have become a recent important research topic to many aerospace organizations as they prepare to develop the revolutionary complex space systems of the future. Future multi-disciplinary complex space systems will make it absolutely essential for organizations to practice a rigorous, comprehensive risk management process, emphasizing thorough systems engineering principles to succeed. Project managers must possess strong leadership skills to direct high quality, cross-disciplinary teams for successfully developing revolutionary space systems that are ever increasing in complexity. Proactive efforts to reduce or eliminate risk throughout a project's lifecycle ideally must be practiced by all technical members in the organization. This paper discusses some of the risk management perspectives that were collected from senior managers and project managers of aerospace and aeronautical organizations by the use of interviews and surveys. Some of the programmatic risks which drive the success or failure of projects are revealed. Key findings lead to a number of insights for organizations to consider for proactively approaching the risks which face current and future complex space systems projects.

  10. Risk management with options and futures under liquidity risk

    OpenAIRE

    Adam-Müller, A F A; Panaretou, A

    2009-01-01

    Futures hedging creates liquidity risk through marking to market. Liquidity risk matters if interim losses on a futures position have to be financed at a markup over the risk-free rate. This study analyzes the optimal risk management and production decisions of a firm facing joint price and liquidity risk. It provides a rationale for the use of options on futures in imperfect capital markets. If liquidity risk materializes, the firm sells options on futures in order to partly cover this liqui...

  11. Managing Reputational Risk through Environmental Management and Reporting: An Options Theory Approach

    Directory of Open Access Journals (Sweden)

    Juan Pineiro-Chousa

    2017-03-01

    Full Text Available Reputation is a complex and multidimensional concept that may be organized in downside and upside reputational risk. In this article, we present a formal modelling for the management capabilities of environmental management and reporting over reputational risk, considering that reputational risk is becoming increasingly important for organizations and it directly depends on the information available about companies’ environmental performances. As long as the effectiveness of communication and disclosure plays a key role in the process, the usefulness of environmental management and reporting as a hedging instrument for reputational risk is addressed through different levels of information transparency. When considering a scenario of voluntary reporting, we show that environmentally concerned companies can reduce the cost of environmental management as a reputational risk strategy, as well as reducing the potential loss of reputational value from reputational threats and increasing the potential profit from reputational opportunities. In the context of mandatory reporting, we highlight the role of assurance companies as bearers of the risk of bad reputations for non-concerned companies. As a result, this novel approach applies theoretical oriented research from options theory to reputational risk management literature, so that it benefits from the option’s well known theory, robustness, and conclusions.

  12. 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...

  13. Examining the realities of risk management

    International Nuclear Information System (INIS)

    Garrick, B.J.

    1985-01-01

    Sufficient experience now exists, especially in the nuclear industry, to consider the progress that has been made toward meaningful tools or aids for the control and, hence, management of risk. The considerable activity in the field of probabilistic risk assessment (PRA) suggests a high level of interest and application. It is the purpose of this paper to examine our own experience in this regard and to offer some observations and opinions about current practices in risk management and the requirements for success

  14. Decision support for utility environmental risk management

    International Nuclear Information System (INIS)

    Balson, W.E.; Wilson, D.S.

    1991-01-01

    This paper reviews a number of decision support methods developed and applied by Decision Focus Incorporated to help utility personnel manage current environmental problems. This work has been performed for the Environmental Risk Analysis Program of EPRI's Environment Division, and also for a number of electric utilities across the country. These are two distinct types of decision support software tools that have been created: economic risk management and environmental risk analysis. These types differ primarily in the identification of who will make a decision. Economic risk management tools are directed primarily at decisions made by electric utilities. Environmental risk analysis tools are directed primarily at decisions made by legislative or regulatory agencies, about which a utility may wish to comment

  15. The study of the risk management model of construction project

    International Nuclear Information System (INIS)

    Jiang Bo; Feng Yanping; Liu Changbin

    2010-01-01

    The paper first analyzed the development of the risk management of construction project and the risk management processes, and then briefly introduced the risk management experience of foreign project management. From the project management by objectives point of view, the greatest risk came from the lack of clarity of the objectives in the project management, which led to the project's risk emergence. In the analysis of the principles of the project objectives identification and risk allocation, the paper set up a project management model which insurance companies involved in the whole process of the project management, and simply analyzed the roles of insurance company at last. (authors)

  16. Hydraulic Fracturing and the Environment

    Science.gov (United States)

    Ayatollahy Tafti, T.; Aminzadeh, F.; Jafarpour, B.; de Barros, F.

    2013-12-01

    In this presentation, we highlight two key environmental concerns of hydraulic fracturing (HF), namely induced seismicity and groundwater contamination (GC). We examine the induced seismicity (IS) associated with different subsurface fluid injection and production (SFIP) operations and the key operational parameters of SFIP impacting it. In addition we review the key potential sources for possible water contamination. Both in the case of IS and GC we propose modeling and data analysis methods to quantify the risk factors to be used for monitoring and risk reduction. SFIP include presents a risk in hydraulic fracturing, waste water injection, enhanced oil recovery as well as geothermal energy operations. Although a recent report (NRC 2012) documents that HF is not responsible for most of the induced seismicities, we primarily focus on HF here. We look into vaious operational parameters such as volume and rate of water injection, the direction of the well versus the natural fracture network, the depth of the target and the local stress field and fault system, as well as other geological features. The latter would determine the potential for triggering tectonic related events by small induced seismicity events. We provide the building blocks for IS risk assessment and monitoring. The system we propose will involve adequate layers of complexity based on mapped seismic attributes as well as results from ANN and probabilistic predictive modeling workflows. This leads to a set of guidelines which further defines 'safe operating conditions' and 'safe operating zones' which will be a valuable reference for future SFIP operations. We also illustrate how HF can lead to groundwater aquifer contamination. The source of aquifer contamination can be the hydrocarbon gas or the chemicals used in the injected liquid in the formation. We explore possible pathways of contamination within and discuss the likelihood of contamination from each source. Many of the chemical compounds used

  17. Control rod drive hydraulic device

    International Nuclear Information System (INIS)

    Takekawa, Toru.

    1994-01-01

    The device of the present invention can reliably prevent a possible erroneous withdrawal of control rod driving mechanism when the pressure of a coolant line is increased by isolation operation of hydraulic control units upon periodical inspection for a BWR type reactor. That is, a coolant line is connected to the downstream of a hydraulic supply device. The coolant line is connected to a hydraulic control unit. A coolant hydraulic detection device and a pressure setting device are disposed to the coolant line. A closing signal line and a returning signal line are disposed, which connect the hydraulic supply device and a flow rate control valve for the hydraulic setting device. In the device of the present invention, even if pressure of supplied coolants is elevated due to isolation of hydraulic control units, the elevation of the hydraulic pressure can be prevented. Accordingly, reliability upon periodical reactor inspection can be improved. Further, the facility is simplified and the installation to an existent facility is easy. (I.S.)

  18. Study on Characteristics of Hydraulic Servo System for Force Control of Hydraulic Robots

    International Nuclear Information System (INIS)

    Kim, Hyo-gon; Han, Changsoo; Lee, Jong-won; Park, Sangdeok

    2015-01-01

    Because a hydraulic actuator has high power and force densities, this allows the weight of the robot's limbs to be reduced. This allows for good dynamic characteristics and high energy efficiency. Thus, hydraulic actuators are used in some exoskeleton robots and quadrupedal robots that require high torque. Force control is useful for robot compliance with a user or environment. However, force control of a hydraulic robot is difficult because a hydraulic servo system is highly nonlinear from a control perspective. In this study, a nonlinear model was used to develop a simulation program for a hydraulic servo system consisting of a servo valve, transmission lines, and a cylinder. The problems and considerations with regard to the force control performance for a hydraulic servo system were investigated. A force control method using the nonlinear model was proposed, and its effect was evaluated with the simulation program

  19. Study on Characteristics of Hydraulic Servo System for Force Control of Hydraulic Robots

    Energy Technology Data Exchange (ETDEWEB)

    Kim, Hyo-gon; Han, Changsoo [Hanyang University, Seoul (Korea, Republic of); Lee, Jong-won [Korea University of Science and Technology, Seoul (Korea, Republic of); Park, Sangdeok [Korea Institute of Industrial Technology, Seoul (Korea, Republic of)

    2015-02-15

    Because a hydraulic actuator has high power and force densities, this allows the weight of the robot's limbs to be reduced. This allows for good dynamic characteristics and high energy efficiency. Thus, hydraulic actuators are used in some exoskeleton robots and quadrupedal robots that require high torque. Force control is useful for robot compliance with a user or environment. However, force control of a hydraulic robot is difficult because a hydraulic servo system is highly nonlinear from a control perspective. In this study, a nonlinear model was used to develop a simulation program for a hydraulic servo system consisting of a servo valve, transmission lines, and a cylinder. The problems and considerations with regard to the force control performance for a hydraulic servo system were investigated. A force control method using the nonlinear model was proposed, and its effect was evaluated with the simulation program.

  20. Integrated Risk and Knowledge Management Program -- IRKM-P

    Science.gov (United States)

    Lengyel, David M.

    2009-01-01

    The NASA Exploration Systems Mission Directorate (ESMD) IRKM-P tightly couples risk management and knowledge management processes and tools to produce an effective "modern" work environment. IRKM-P objectives include: (1) to learn lessons from past and current programs (Apollo, Space Shuttle, and the International Space Station); (2) to generate and share new engineering design, operations, and management best practices through preexisting Continuous Risk Management (CRM) procedures and knowledge-management practices; and (3) to infuse those lessons and best practices into current activities. The conceptual framework of the IRKM-P is based on the assumption that risks highlight potential knowledge gaps that might be mitigated through one or more knowledge management practices or artifacts. These same risks also serve as cues for collection of knowledge particularly, knowledge of technical or programmatic challenges that might recur.

  1. Insights from implementation of a risk management methodology

    International Nuclear Information System (INIS)

    Mahn, J.A.; Germann, R.P.; Jacobs, R.R.

    1992-01-01

    In 1988, GPU Nuclear (GPUN) Corporation embarked on a research effort to identify or develop an appropriate methodology for proactively managing risks. The objective of this effort was to increase its ability to identify potential risks and to aid resource allocation decision making for risk control. Such a methodology was presented at a risk management symposium sponsored by GPUN in September of 1989. A pilot project based on this methodology has been conducted at GPUN to test and validate the elements of the methodology and to compare the results of its application with current corporate methods for guiding risk decision making. The pilot project also led to a follow-up policy-capturing study to elicit information about the various risk decision-making models of GPUN decision makers. The combination of these endeavors provided an opportunity to gain numerous insights with respect to understanding the real value of a risk management process, obtaining acceptance of and commitment to risk management and improving operational aspects of the methodology

  2. Report realized in the name of the finances, economy and the plan commission on the project of financing law for 2009 (n. 1127), annex n. 13 ecology, sustainable development and management risks prevention planing of the ecology, the energy, the sustainable development and the territory management policies; Rapport fait au nom de la commission des finances, de l'economie generale et du plan sur le projet de loi de finances pour 2009 (n. 1127), annexe n. 13 ecologie, developpement et amenagement durables prevention des risques conduite et pilotage des politiques de l'ecologie, de l'energie, du developpement durable et de l'amenagement du territoire

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2008-07-01

    This document presents the law project n. 1127 for 2009, concerning the risks prevention in the framework of the ecology and the sustainable development and management. The first part details the program of risks prevention (technological, pollutions, natural and hydraulic risks, nuclear safety and radioprotection, the mine site rehabilitation). The second part develops the ecology, energy sustainable development and territory management, policies. (A.L.B.)

  3. 12 CFR 563.176 - Interest-rate-risk-management procedures.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Interest-rate-risk-management procedures. 563... ASSOCIATIONS-OPERATIONS Financial Management Policies § 563.176 Interest-rate-risk-management procedures... association's management of that risk. (b) The board of directors shall formerly adopt a policy for the...

  4. Making Risk Management Strategic

    DEFF Research Database (Denmark)

    Sax, Johanna; Andersen, Torben Juul

    2018-01-01

    Enterprise risk management (ERM) is an established management practice and is increasing in prominence as more firms spend substantial resources implementing ERM frameworks, partially induced by regulatory requirements. Yet, there is a lack of knowledge as to whether such frameworks add value and...... outcomes. The study develops a new multidimensional measure of adherence to ERM practices where earlier studies typically have relied on dichotomous proxies. We discuss the implications of these findings for ERM practice and strategic management in general....

  5. Hydraulic Hybrid Vehicles

    Science.gov (United States)

    EPA and the United Parcel Service (UPS) have developed a hydraulic hybrid delivery vehicle to explore and demonstrate the environmental benefits of the hydraulic hybrid for urban pick-up and delivery fleets.

  6. Characterizing urbanization impacts on floodplain through integrated land use, hydrologic, and hydraulic modeling: Applications to a watershed in northwest Houston, TX

    Science.gov (United States)

    Gori, A.; Juan, A.; Blessing, R.; Brody, S.; Bedient, P. B.

    2017-12-01

    The FEMA 100 year floodplain serves as the benchmark for characterizing and managing flood risk in the United States. However, it is usually generated by using methodologies that are too simplistic to accurately depict the spatial reality of flood risk, and often fail to consider non-stationary variables such as changing land use conditions or precipitation patterns. The impacts of these limitations are evidenced in Houston, TX, where rainfall-induced flooding has resulted in billions of dollars in commercial and residential damage over the past two decades, much of which has occurred outside of the 100 year floodplain. Specifically, rapid urbanization has drastically increased overland runoff and resulting peak flows, thereby exposing new areas to flood risks. It is therefore crucial to examine the impacts of future land development on floodplain depth and extent in order to develop effective long-term stormwater management and mitigation strategies. This study presents a methodology for characterizing the impacts of future development on flood risk in an urbanizing watershed by integrating land use projection and high-resolution hydrologic / hydraulic modeling. Development projections are generated by identifying historical land use/ land cover change (LULCC) drivers, which are incorporated into an artificial neural network (ANN) to predict development conditions out to 2040. Hydrologic modeling of current and projected land cover conditions is achieved through a physics-based distributed hydrologic model. Finally, a coupled 1D/2D unsteady hydraulic model is used to simulate floodplain depths and extents, and to generate floodplain maps for all considered scenarios. This methodology is applied to the Cypress Creek watershed in northwest Houston, TX, a partially-developed watershed which is expected to rapidly urbanize for the next few decades. The study quantifies floodplain changes (i.e., extent and depth) and the number of impacted residences, and also

  7. Operational Risk Management and Military Aviation Safety

    National Research Council Canada - National Science Library

    Ashley, Park

    1999-01-01

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

  8. CEA - Assessment of risk management for 2012

    International Nuclear Information System (INIS)

    Bonnevie, Edwige

    2013-06-01

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

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

    Science.gov (United States)

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

    2017-11-01

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

  10. Exploration Systems Development (ESD) Approach to Enterprise Risk Management

    Science.gov (United States)

    Bauder, Stephen P.

    2014-01-01

    The National Aeronautics and Space Administration (NASA) Exploration Systems Development (ESD) Division has implemented an innovative approach to Enterprise Risk Management under a unique governance structure and streamlined integration model. ESD's mission is to design and build the capability to extend human existence to deep space. The Enterprise consists of three Programs: Space Launch System (SLS), Orion, and Ground Systems Development and Operations (GSDO). The SLS is a rocket and launch system that will be capable of powering humans, habitats, and support systems to deep space. Orion will be the first spacecraft in history capable of taking humans to multiple destinations within deep space. GSDO is modernizing Kennedy's spaceport to launch spacecraft built and designed by both NASA and private industry. ESD's approach to Enterprise Risk Management is commensurate with affordability and a streamlined management philosophy. ESD Enterprise Risk Management leverages off of the primary mechanisms for integration within the Enterprise. The Enterprise integration approach emphasizes delegation of authority to manage and execute the majority of cross-program activities and products to the individual Programs, while maintaining the overall responsibility for all cross-program activities at the Division. The intent of the ESD Enterprise Risk Management approach is to improve risk communication, to avoid replication and/or contradictory strategies, and to minimize overhead process burden. This is accomplished by the facilitation and integration of risk information within ESD. The ESD Division risks, Orion risks, SLS risks, and GSDO risks are owned and managed by the applicable Program. When the Programs have shared risks with multiple consequences, they are jointly owned and managed. When a risk is associated with the integrated system that involves more than one Program in condition, consequence, or mitigation plan, it is considered an Exploration Systems Integration

  11. The hydraulic wheel

    International Nuclear Information System (INIS)

    Alvarez Cardona, A.

    1985-01-01

    The present article this dedicated to recover a technology that key in disuse for the appearance of other techniques. It is the hydraulic wheel with their multiple possibilities to use their energy mechanical rotational in direct form or to generate electricity directly in the fields in the place and to avoid the high cost of transport and transformation. The basic theory is described that consists in: the power of the currents of water and the hydraulic receivers. The power of the currents is determined knowing the flow and east knowing the section of the flow and its speed; they are given you formulate to know these and direct mensuration methods by means of floodgates, drains and jumps of water. The hydraulic receivers or properly this hydraulic wheels that are the machines in those that the water acts like main force and they are designed to transmit the biggest proportion possible of absolute work of the water, the hydraulic wheels of horizontal axis are the common and they are divided in: you rotate with water for under, you rotate with side water and wheels with water for above. It is analyzed each one of them, their components are described; the conditions that should complete to produce a certain power and formulate them to calculate it. There are 25 descriptive figures of the different hydraulic wheels

  12. RISK MANAGEMENT AS CHALLENGE TO TODAY’S ENTERPRISES

    Directory of Open Access Journals (Sweden)

    Iwona Gorzeń-Mitka

    2013-07-01

    Full Text Available Risk and its management are becoming increasingly important issues in modern theory and practice of managing organizations. It is propounded that organizations, regardless of the type or size of activity they carry out, take into account the impact of risk in their decisions and processes. Managerial approach to risk is aimed at reducing the extent to which risk impacts the functioning of an organization, allowing it to take optimal decisions. At the same time, changes occurring in the environment increase manifold the risk that organizations are forced to take. Inadequacy of the existing, traditional approaches to risk management, which often do not correspond to the dynamics of the changes in the environment in which today’s organizations function, makes it necessary to look for new, innovative managerial solutions. This has led to the emergence of the paradigm of enterprise risk management (ERM.

  13. RISKS IN INVESTMENT AND MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Ms. Tatiana A. Ykovleva

    2016-12-01

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

  14. AN OVERVIEW ON STATE OF KNOWLEDGE OF RISK AND RISK MANAGEMENT IN ECONOMICS FIELDS

    OpenAIRE

    Mirela NICHITA

    2015-01-01

    The purpose of this paper is to present a history and an evolution of concepts of risk and risk management in economic, respectively financial fields, highlighting the usefulness (or not) and complexity of tools for risk assessment developed over time. The main objective of risk management is to reduce costs and increase the value of company and stakeholders gains; also, a coherent risk management strategy may improve entity capital structure which will derive in a healthy financing policy. T...

  15. Managing flood risks in the Mekong Delta

    NARCIS (Netherlands)

    Hoang, Long Phi; Biesbroek, Robbert; Tri, Van Pham Dang; Kummu, Matti; Vliet, van Michelle T.H.; Leemans, Rik; Kabat, Pavel; Ludwig, Fulco

    2018-01-01

    Climate change and accelerating socioeconomic developments increasingly challenge flood-risk management in the Vietnamese Mekong River Delta—a typical large, economically dynamic and highly vulnerable delta. This study identifies and addresses the emerging challenges for flood-risk management.

  16. COORDINATES OF A RISK MANAGEMENT PROJECT

    OpenAIRE

    ALEXANDRU OLTEANU; MĂDĂLINA ANTOANETA RĂDOI

    2013-01-01

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

  17. Customer-Specific Transaction Risk Management in E-Commerce

    Science.gov (United States)

    Ruch, Markus; Sackmann, Stefan

    Increasing potential for turnover in e-commerce is inextricably linked with an increase in risk. Online retailers (e-tailers), aiming for a company-wide value orientation should manage this risk. However, current approaches to risk management either use average retail prices elevated by an overall risk premium or restrict the payment methods offered to customers. Thus, they neglect customer-specific value and risk attributes and leave turnover potentials unconsidered. To close this gap, an innovative valuation model is proposed in this contribution that integrates customer-specific risk and potential turnover. The approach presented evaluates different payment methods using their risk-turnover characteristic, provides a risk-adjusted decision basis for selecting payment methods and allows e-tailers to derive automated risk management decisions per customer and transaction without reducing turnover potential.

  18. Back to basics--just how much should a risk manager know about risk financing?

    Science.gov (United States)

    Miller, Vivian B

    2011-01-01

    Whether directly involved in development and implementation of the organization's risk financing program or not, risk management professionals, at the very least, need to be familiar with and understand the various risk financing strategies available to address all areas of exposure. This article addresses the types of coverages and risk financing options that should be considered when developing a comprehensive risk-financing program, and why it is important for risk management professionals to have some knowledge about these products, in order for their true value to be fully appreciated. © 2011 American Society for Healthcare Risk Management of the American Hospital Association.

  19. Risk management in a competitive electricity market

    International Nuclear Information System (INIS)

    Liu, Min; Wu, Felix F.

    2007-01-01

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

  20. Water Hydraulic Systems

    DEFF Research Database (Denmark)

    Conrad, Finn

    2005-01-01

    The paper presents research results using IT-Tools for CAD and dynamic modelling, simulation, analysis, and design of water hydraulic actuators for motion control of machines, lifts, cranes and robots. Matlab/Simulink and CATIA are used as IT-Tools. The contributions include results from on......-going research projects on fluid power and mechatronics based on tap water hydraulic servovalves and linear servo actuators and rotary vane actuators for motion control and power transmission. Development and design a novel water hydraulic rotary vane actuator for robot manipulators. Proposed mathematical...... modelling, control and simulation of a water hydraulic rotary vane actuator applied to power and control a two-links manipulator and evaluate performance. The results include engineering design and test of the proposed simulation models compared with IHA Tampere University’s presentation of research...

  1. THE EVOLUTION OF RISK MANAGEMENT RESEARCH: CHANGES IN KNOWLEDGE MAPS

    OpenAIRE

    Iwona Gorzeń-Mitka

    2017-01-01

    One of the leading trends in modern academic research is risk management. Over the years, the approach to risk management has changed and affected many different areas. This study aims to investigate changes in risk management and trends of risk management in the past 20 years. Risk management related publications from 1990 to 2016 were retrieved from the Web of Science and Scopus databases. VOS viewer software was used to analyse the research trend. Literature growth related to risk manageme...

  2. 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.

  3. Application of recourse optimization for risk management of electricity production with weekly and monthly horizon

    International Nuclear Information System (INIS)

    Apparigliato, R.

    2008-06-01

    In this Phd, we focus on the problem of weekly risk management in electric production. In the first part of this work, we investigate how to take into account stochastic inflows in the optimal management of a hydraulic valley. Our model is based on robust optimization and linear decision rules. A validation procedure based on simulation over random scenarios shows that we are able to postpone constraints violations of volume at very low cost. The second part deals with the problem of active management of electrical power margin, defined as the difference between the total offer and the total demand, considering the different random parameters which affect the electrical system. The objective is to determine optimal solutions to be taken in order to satisfy the demand in 99% of the cases. In that purpose, we propose a new open-looped formulation, based on the stochastic process of power margin and on the use of probabilistic constraints. To be able to solve this problem, we generate power margin's scenarios using more realistic methods than those used in exploitation. At last, a closed-loop approach, based on the heuristic 'Stochastic Programming with Step Decision Rules', introduced by Thenie and Vial, is studied. First results are quite promising in comparison with the opened-loop ones. (author)

  4. PERFORMANCE IN INTERNAL CONTROL AND RISK MANAGEMENT

    OpenAIRE

    JELER (POPA) IOANA; FOCŞAN ELEONORA IONELA; CORICI MARIAN CĂTĂLIN

    2017-01-01

    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 ...

  5. Verifying the prevalence, properties, and congruent hydraulics of at-many-stations hydraulic geometry (AMHG) for rivers in the continental United States

    Science.gov (United States)

    Barber, Caitline A.; Gleason, Colin J.

    2018-01-01

    Hydraulic geometry (HG) has long enabled daily discharge estimates, flood risk monitoring, and water resource and habitat assessments, among other applications. At-many-stations HG (AMHG) is a newly discovered form of HG with an evolving understanding. AMHG holds that there are temporally and spatially invariant ('congruent') depth, width, velocity, and discharge values that are shared by all stations of a river. Furthermore, these river-wide congruent hydraulics have been shown to link at-a-station HG (AHG) in space, contrary to previous expectation of AHG as spatially unpredictable. To date, AMHG has only been thoroughly examined on six rivers, and its congruent hydraulics are not well understood. To address the limited understanding of AMHG, we calculated AMHG for 191 rivers in the United States using USGS field-measured data from over 1900 gauging stations. These rivers represent nearly all geologic and climatic settings found in the continental U.S. and allow for a robust assessment of AMHG across scales. Over 60% of rivers were found to have AMHG with strong explanatory power to predict AHG across space (defined as r2 > 0.6, 118/191 rivers). We also found that derived congruent hydraulics bear little relation to their observed time-varying counterparts, and the strength of AMHG did not correlate with any available observed or congruent hydraulic parameters. We also found that AMHG is expressed at all fluvial scales in this study. Some statistically significant spatial clusters of rivers with strong and weak AMHG were identified, but further research is needed to identify why these clusters exist. Thus, this first widespread empirical investigation of AMHG leads us to conclude that AMHG is indeed a widely prevalent natural fluvial phenomenon, and we have identified linkages between known fluvial parameters and AMHG. Our work should give confidence to future researchers seeking to perform the necessary detailed hydraulic analysis of AMHG.

  6. The 25 kWe solar thermal Stirling hydraulic engine system: Conceptual design

    Science.gov (United States)

    White, Maurice; Emigh, Grant; Noble, Jack; Riggle, Peter; Sorenson, Torvald

    1988-01-01

    The conceptual design and analysis of a solar thermal free-piston Stirling hydraulic engine system designed to deliver 25 kWe when coupled to a 11 meter test bed concentrator is documented. A manufacturing cost assessment for 10,000 units per year was made. The design meets all program objectives including a 60,000 hr design life, dynamic balancing, fully automated control, more than 33.3 percent overall system efficiency, properly conditioned power, maximum utilization of annualized insolation, and projected production costs. The system incorporates a simple, rugged, reliable pool boiler reflux heat pipe to transfer heat from the solar receiver to the Stirling engine. The free-piston engine produces high pressure hydraulic flow which powers a commercial hydraulic motor that, in turn, drives a commercial rotary induction generator. The Stirling hydraulic engine uses hermetic bellows seals to separate helium working gas from hydraulic fluid which provides hydrodynamic lubrication to all moving parts. Maximum utilization of highly refined, field proven commercial components for electric power generation minimizes development cost and risk.

  7. The role of internal audit in companies' risk management

    Directory of Open Access Journals (Sweden)

    Vlaović-Begović Sanja

    2012-01-01

    Full Text Available The internal audit area of application differs according to management needs and demands, as well as the structure and the size of a company. Besides examination of bookkeeping information, law synchronization check, criminal action and mistakes discoveries, internal audit is more and more directed towards risk management process in order to respond to the demands of uncertain business and to secure adequate business decisions making for management. This paper examines the role of internal audit in companies' risk management that is represented in examination and evaluation of risk management processes, with the aim of decreasing risk to an acceptable level for a company. Besides that, internal audit can support the management in configuration and establishing more efficient, improved risk management process. In order to ensure independence and objectiveness of internal audit operation, activities and responsibilities of management and internal audit are clearly defined.

  8. Tank Waste Remediation System Characterization Project Programmatic Risk Management Plan

    International Nuclear Information System (INIS)

    Baide, D.G.; Webster, T.L.

    1995-12-01

    The TWRS Characterization Project has developed a process and plan in order to identify, manage and control the risks associated with tank waste characterization activities. The result of implementing this process is a defined list of programmatic risks (i.e. a risk management list) that are used by the Project as management tool. This concept of risk management process is a commonly used systems engineering approach which is being applied to all TWRS program and project elements. The Characterization Project risk management plan and list are subset of the overall TWRS risk management plan and list

  9. Proceedings of the 10. Meeting on Reactor Physics and Thermal Hydraulics

    International Nuclear Information System (INIS)

    Santos Bastos, W. dos

    1995-01-01

    These proceedings presents all the Meeting papers emphasizing specific aspects on reactor physics method, criticality, fuel management, nuclear data, safety analysis, simulation and shielding, neutronics, thermal hydraulics, reactor operation and computational methods

  10. Managing Complex Environmental Risks

    Energy Technology Data Exchange (ETDEWEB)

    Karlsson, Mikael [Karlstad Univ. (Sweden). Dept. of Environmental Sciences

    2006-09-15

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

  11. Managing Complex Environmental Risks

    International Nuclear Information System (INIS)

    Karlsson, Mikael

    2006-01-01

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

  12. 77 FR 13585 - Electricity Subsector Cybersecurity Risk Management Process Guideline

    Science.gov (United States)

    2012-03-07

    ... DEPARTMENT OF ENERGY Electricity Subsector Cybersecurity Risk Management Process Guideline AGENCY... Electricity Subsector Cybersecurity Risk Management Process guideline. The guideline describes a risk... Cybersecurity Risk Management Process Guideline. The primary goal of this guideline is to describe a risk...

  13. PROJECT MANAGER SKILLS, RISK MANAGEMENT TOOLS

    Directory of Open Access Journals (Sweden)

    Vladut Iacob

    2013-12-01

    Full Text Available Although the projects are different from each other there are many common things that contribute to their success. Looked overall, the success of a project is the result of a multitude of factors. This person is considered the "engine" of the project. The man who makes the action set for the achievement of project objectives to be brought to an end. The project manager must have the technical knowledge and economic diverse. He should be able to choose a team and lead. You must be tenacious, combative, to know how to communicate both within the team and beyond. In a word, the project manager must have an impressive stock of knowledge, skills and abilities and appreciate as Peter Drucker, to "exist for the organization. To be its servant. Any management who forget this will only cause damage to the organization. "This study will focus on highlighting the skills of the project manager and their role in managing difficult situations or risk.

  14. Therapeutic risk management of the suicidal patient: safety planning.

    Science.gov (United States)

    Matarazzo, Bridget B; Homaifar, Beeta Y; Wortzel, Hal S

    2014-05-01

    This column is the fourth in a series describing a model for therapeutic risk management of the suicidal patient. Previous columns presented an overview of the therapeutic risk management model, provided recommendations for how to augment risk assessment using structured assessments, and discussed the importance of risk stratification in terms of both severity and temporality. This final column in the series discusses the safety planning intervention as a critical component of therapeutic risk management of suicide risk. We first present concerns related to the relatively common practice of using no-suicide contracts to manage risk. We then present the safety planning intervention as an alternative approach and provide recommendations for how to use this innovative strategy to therapeutically mitigate risk in the suicidal patient.

  15. Risk assessment and radioactive waste management

    International Nuclear Information System (INIS)

    Cohen, J.J.

    1979-01-01

    Problems of radioactive waste management, both real and apparent, have provided a serious constraint in the development of nuclear power. Several studies have been conducted in an attempt to evaluate the actual (quantifiable) risks of radioactive waste management and place them in a reasonable perspective. These studies are reviewed and discussed. Generally, the studies indicate the risks to be of a level of seriousness which might normally be considered acceptable in current society. However, it is apparent that this acceptability has not been attained and public apprehension prevails. To understand the reasons for this apprehension requires an assessment of those factors of ''perceived'' risks which play a major role in determining public attitudes toward radioactive waste management programs and nuclear power, in general. Such factors might include the spector of legacies of harm to future generations, genetic effects, nuclear garbage dumps, proliferation of plutonium inventories, nuclear terrorism, etc. A major problem in development of acceptable waste management policies and programs requires not only the recognition of the importance of perceived risk factors but development of a methodology for their incorporation in planning and conduct of such activities. Some approaches to the development of this methodology are discussed

  16. Quantifying risk and accuracy in cancer risk assessment: the process and its role in risk management problem-solving.

    Science.gov (United States)

    Turturro, A; Hart, R W

    1987-01-01

    A better understanding of chemical-induced cancer has led to appreciation of similarities to problems addressed by risk management of radiation-induced toxicity. Techniques developed for cancer risk assessment of toxic substances can be generalized to toxic agents. A recent problem-solving approach for risk management of toxic substances developed for the U.S. Department of Health and Human Services, and the role of risk assessment and how uncertainty should be treated within the context of this approach, is discussed. Finally, two different methods, research into the assumptions underlying risk assessment and the modification of risk assessment/risk management documents, are used to illustrate how the technique can be applied.

  17. Risk, Risk Perception, Risk Management – a Review of the Literature

    OpenAIRE

    Tamás Vasvári

    2015-01-01

    Risks have become an integral part of our society. In this context, the aim of this paper is to provide a summary of the findings of risk research conducted in different fields of study and to trace the effect of these findings on risk management practices. The basic approaches to risk presented in this paper show that the notions of probability employed in studying processes in any area of life belong in the province of epistemology rather than ontology. Therefore, subjectivity cannot be com...

  18. Characteristic Length Scales in Fracture Networks: Hydraulic Connectivity through Periodic Hydraulic Tests

    Science.gov (United States)

    Becker, M.; Bour, O.; Le Borgne, T.; Longuevergne, L.; Lavenant, N.; Cole, M. C.; Guiheneuf, N.

    2017-12-01

    Determining hydraulic and transport connectivity in fractured bedrock has long been an important objective in contaminant hydrogeology, petroleum engineering, and geothermal operations. A persistent obstacle to making this determination is that the characteristic length scale is nearly impossible to determine in sparsely fractured networks. Both flow and transport occur through an unknown structure of interconnected fracture and/or fracture zones making the actual length that water or solutes travel undetermined. This poses difficulties for flow and transport models. For, example, hydraulic equations require a separation distance between pumping and observation well to determine hydraulic parameters. When wells pairs are close, the structure of the network can influence the interpretation of well separation and the flow dimension of the tested system. This issue is explored using hydraulic tests conducted in a shallow fractured crystalline rock. Periodic (oscillatory) slug tests were performed at the Ploemeur fractured rock test site located in Brittany, France. Hydraulic connectivity was examined between three zones in one well and four zones in another, located 6 m apart in map view. The wells are sufficiently close, however, that the tangential distance between the tested zones ranges between 6 and 30 m. Using standard periodic formulations of radial flow, estimates of storativity scale inversely with the square of the separation distance and hydraulic diffusivity directly with the square of the separation distance. Uncertainty in the connection paths between the two wells leads to an order of magnitude uncertainty in estimates of storativity and hydraulic diffusivity, although estimates of transmissivity are unaffected. The assumed flow dimension results in alternative estimates of hydraulic parameters. In general, one is faced with the prospect of assuming the hydraulic parameter and inverting the separation distance, or vice versa. Similar uncertainties exist

  19. Reducing the risk, managing safety.

    Science.gov (United States)

    Aldridge, Peter

    2016-02-01

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

  20. Operational risk management for a NPP

    Energy Technology Data Exchange (ETDEWEB)

    Scott, C.K., E-mail: KScott@AtlanticNuclear.ca [Atlantic Nuclear Services Inc., Fredericton, New Brunswick (Canada)

    2013-07-01

    Organizational failures are a hazard to the successful operation of a nuclear power plant. Risk reduction strategies have been developed around two themes: using an understanding of the nature and mechanism of human failures to eliminate them by modifying work processes; or, modifying human behaviour by creating a strong safety culture that overrides the tendency to fail. This paper examines the problem from the perspective of operational risk management. It includes the internal management of operations and the influence of the external environment on the organization. A model is proposed that encompasses all the operational risk factors in the organization's decision making process. To prevent failure the organization must have the capability to adapt and the capacity to evolve. The hazards that would lead to an organizational failure are developed from this evolutionary model. The operational risk management program would include these hazards as well as the conventional nuclear safety hazards. (author)

  1. Managing Chemical & Material Risks

    Science.gov (United States)

    2011-12-01

    Certification Program Acquisition, Technology and Logistics 9 DoD Hexavalent Chromium Risk Reduction Non- Chrome Primer II EXAVAJ ENT CHROM lrUMI...Royal Demolition eXplosive (RDX) • Cyclotrimethylenetrinitramine  Hexavalent Chromium (Cr6+) Naphthalene …pending downgrade to watch list Beryllium...T1me (secondo) 700 Acquisition, Technology and Logistics 10 Hexavalent Chromium Risk Management Actions • DoD minimization policy signed April

  2. The role of risk perception in making flood risk management more effective

    Science.gov (United States)

    Buchecker, M.; Salvini, G.; Di Baldassarre, G.; Semenzin, E.; Maidl, E.; Marcomini, A.

    2013-11-01

    Over the last few decades, Europe has suffered from a number of severe flood events and, as a result, there has been a growing interest in probing alternative approaches to managing flood risk via prevention measures. A literature review reveals that, although in the last decades risk evaluation has been recognized as key element of risk management, and risk assessment methodologies (including risk analysis and evaluation) have been improved by including social, economic, cultural, historical and political conditions, the theoretical schemes are not yet applied in practice. One main reason for this shortcoming is that risk perception literature is mainly of universal and theoretical nature and cannot provide the necessary details to implement a comprehensive risk evaluation. This paper therefore aims to explore a procedure that allows the inclusion of stakeholders' perceptions of prevention measures in risk assessment. It proposes to adopt methods of risk communication (both one-way and two-way communication) in risk assessment with the final aim of making flood risk management more effective. The proposed procedure not only focuses on the effect of discursive risk communication on risk perception, and on achieving a shared assessment of the prevention alternatives, but also considers the effects of the communication process on perceived uncertainties, accepted risk levels, and trust in the managing institutions. The effectiveness of this combined procedure has been studied and illustrated using the example of the participatory flood prevention assessment process on the Sihl River in Zurich, Switzerland. The main findings of the case study suggest that the proposed procedure performed well, but that it needs some adaptations for it to be applicable in different contexts and to allow a (semi-) quantitative estimation of risk perception to be used as an indicator of adaptive capacity.

  3. BWR 9 X 9 Fuel Assembly Thermal-Hydraulic Tests (2): Hydraulic Vibration Test

    International Nuclear Information System (INIS)

    Yoshiaki Tsukuda; Katsuichiro Kamimura; Toshiitsu Hattori; Akira Tanabe; Noboru Saito; Masahiko Warashina; Yuji Nishino

    2002-01-01

    Nuclear Power Engineering Corporation (NUPEC) conducted thermal-hydraulic projects for verification of thermal-hydraulic design reliability for BWR high-burnup 8 x 8 and 9 x 9 fuel assemblies, entrusted by the Ministry of Economy, Trade and Industry (METI). As a part of the NUPEC thermal-hydraulic projects, hydraulic vibration tests using full-scale test assemblies simulating 9 x 9 fuel assemblies were carried out to evaluate BWR fuel integrity. The test data were applied to development of a new correlation for the estimation of fuel rod vibration amplitude. (authors)

  4. Plant risk status information management system

    International Nuclear Information System (INIS)

    Campbell, D.J.; Ellison, B.C.; Glynn, J.C.; Flanagan, G.F.

    1985-01-01

    The Plant Risk Status Information Management System (PRISIMS) is a PC program that presents information about a nuclear power plant's design, its operation, its technical specifications, and the results of the plant's probabilistic risk assessment (PRA) in a logically and easily accessible format. PRISIMS provides its user with unique information for integrating safety concerns into day-to-day operational decisions and/or long-range management planning

  5. Air quality risk management.

    Science.gov (United States)

    Williams, Martin L

    2008-01-01

    Rather than attempt to provide a comprehensive account of air quality risk assessment, as might be found in a textbook or manual, this article discusses some issues that are of current importance in the United Kingdom and the rest of Europe, with special emphasis on risk assessment in the context of policy formulation, and emerging scientific knowledge. There are two pollutants of particular concern and that both pose challenges for risk assessment and policy, and they are particulate matter (PM) and ozone. The article describes some issues for health risk assessment and finally some forward-looking suggestions for future approaches to air quality management.

  6. Renal arteriovenous fistula: A rare complication of electro-hydraulic ...

    African Journals Online (AJOL)

    A 62-year-old man with type 1 Von Willebrand's disease was electively admitted to a Northern Ireland district general hospital for endoscopic management of a 1 cm right lower pole calculus. After pre-operative administration of appropriate haematological factors, flexible ureteroscopic electro-hydraulic lithotripsy (EHL).

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

    International Nuclear Information System (INIS)

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

    1995-01-01

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

  8. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

    outcomes. This topic is timely and of interest both to the academic community as well as to practicing managers, executives, and directors. The volume focuses on contemporary risk leadership issues based on recent research insights but avoids excessive technical language and mathematical formulas. The book...... is framed around the challenges imposed on executives and directors in dealing with an increasingly complex and unpredictable world. This requires a new risk leadership focus that not only avoids the downside risks but also considers ways to exploit the upside potential offered by a dynamic environment...

  9. Integrated Waste Treatment Unit GFSI Risk Management Plan

    International Nuclear Information System (INIS)

    W. A. Owca

    2007-01-01

    This GFSI Risk Management Plan (RMP) describes the strategy for assessing and managing project risks for the Integrated Waste Treatment Unit (IWTU) that are specifically within the control and purview of the U.S. Department of Energy (DOE), and identifies the risks that formed the basis for the DOE contingency included in the performance baseline. DOE-held contingency is required to cover cost and schedule impacts of DOE activities. Prior to approval of the performance baseline (Critical Decision-2) project cost contingency was evaluated during a joint meeting of the Contractor Management Team and the Integrated Project Team for both contractor and DOE risks to schedule and cost. At that time, the contractor cost and schedule risk value was $41.3M and the DOE cost and schedule risk contingency value is $39.0M. The contractor cost and schedule risk value of $41.3M was retained in the performance baseline as the contractor's management reserve for risk contingency. The DOE cost and schedule risk value of $39.0M has been retained in the performance baseline as the DOE Contingency. The performance baseline for the project was approved in December 2006 (Garman 2006). The project will continue to manage to the performance baseline and change control thresholds identified in PLN-1963, ''Idaho Cleanup Project Sodium-Bearing Waste Treatment Project Execution Plan'' (PEP)

  10. Multiple challenges of risk management in EU credit institutions

    Directory of Open Access Journals (Sweden)

    Constantinescu, A.

    2011-01-01

    Full Text Available This paper is intended to be a significant insight into risk management issues by describing the main types of such risks and by providing management and evaluation procedures of significant risks into some active banking companies in Romania. In times of crisis, risk management in the banking system has a greater importance than in the normal economic times. The 2011 was a year in which Romania has been hit by the repercussions of the international economic crisis. Using strategies against risks, implementing procedures to monitor and control risks, risk assessment and quantification can substantially reduce the financial losses of a company or those of a financial institution. Risk management is an integral part of all decision making and business processes from credit institutions, its purpose being to protect their sustainable development. The innovations on the financial market, the internationalization of the specific operations, and the pressure of the competition are just a few arguments that impose a permanent supervision of the general and specific risks. This is the main reason why is compulsory to find new methods of managing risks, to keep in consideration the identification, evaluation of the management and the control of the banking system and of each bank.

  11. Lean and agile supply chain management concepts in the aspect of risk management

    Directory of Open Access Journals (Sweden)

    2010-12-01

    Full Text Available Lean and agile supply chain managements, as well as the hybrid forms (leagile supply chains, are popular and relatively widely discussed in literature. However, there are some disputes concerning differentiating these types of the management from tools and instruments such as outsourcing, single sourcing, quick response, standardizing principles and postponement. The above-mentioned concepts are discussed in a positive light as tools for achieving a competitive advantage of supply chains. A recently introduced term SCRM (Supply Chain Risk Management emphasizes the importance of the risk management in supply chains also due to the ability to achieve a competitive advantage of those chains in which a risk is identified, estimated, managed and controlled. Therefore, it seems to be of benefit to look for the relationships and dependencies between these concepts (some references were made to the author's own research. A significant part of the papers concerns the identification of risks related to the above-mentioned instruments of supply chain management. However, the concepts of lean and agile management are often discussed due to the fundamental determiners of the functioning of a supply chain such as the nature of the demand, the character of goods and the total lead-time. According to the author, the discussed concepts could be viewed concerning supply chain risk management. It could facilitate the choice of a supply chain strategy based on the risk analysis. Several case studies were included to support the presented considerations.

  12. Producers' Complex Risk Management Choices

    NARCIS (Netherlands)

    Pennings, J.M.E.; Isengildina, O.; Irwin, S.H.; Garcia, P.; Good, D.L.

    2008-01-01

    Producers have a wide variety of risk management instruments available, making their choice(s) complex. The way producers deal with this complexity can vary and may influence the impact that the determinants, such as risk aversion, have on their choices. A recently developed choice bracketing

  13. 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...

  14. A challenge for land and risk managers: differents stakeholders, differents definitions of the risks

    Science.gov (United States)

    Fernandez, M.; Ruegg, J.

    2012-04-01

    In developing countries, mountain populations and territories are subject to multiple risks and vulnerabilities. In addition, they face even greater challenges than developed countries due to lack of knowledge, resources and technology. There are many different types of actors in society that manage risk at various scales and levels (i.e. engineers, geologists, administrators, land use planners, merchants and local indigenous and non-indigenous people). Because of limited resources and possibilities to reduce all types of risk, these different actors, or 'risk managers' have to choose and compete to prioritize which types of risks to address. This paper addresses a case study from San Cristobal Altaverapaz, Guatemala where a large landslide "Los Chorros", a catastrophic collapse of 6 millions cubic meters of rock, is affecting several communities and one of the country's main west-east access highways. In this case, the government established that the "primary" risk is the landslide, whereas other local stakeholders consider the primary risks to be economic This paper, situated at the cross section between political science, geography and disaster risk management, addresses the social conflict and competition for priorities and solutions for risk management, depending on the group of actors based on the on-going Los Chorros, Guatemala landslide mitigation process. This work is based on the analysis of practices, (Practical Science), policies and institutions in order to understand how the inclusion of multiple stakeholders in determining risk priorities can lead to more sustainable risk management in a given territory. The main objective of this investigation is first to identify and understand the juxtaposition of different readings of the risk equation, usually considered the interface between vulnerability, exposure and hazards. Secondly, it is to analyze the mechanisms of actions taken by various stakeholders, or risk managers. The analysis focuses on the

  15. 78 FR 36784 - Survey of Nanomaterial Risk Management Practices

    Science.gov (United States)

    2013-06-19

    ...-0010, Docket Number NIOSH-265] Survey of Nanomaterial Risk Management Practices AGENCY: National...), Department of Health and Human Services (HHS). ACTION: Proposed NIOSH Survey of Nanomaterial Risk Management... questions addressing risk management practices for ENMs? (5) What should be the maximum amount of time...

  16. Measuring Property Management Risk and Loss: Step One Toward Managing Property on a Foundation of Risk, Cost, and Benefit

    International Nuclear Information System (INIS)

    Johnson, Curtis

    1999-01-01

    This is a period of ever-tightening defense budgets and continuing pressure on the public sector to be more commercial-like, Property policies, practices, and regulations are increasingly being challenged and changed. In these times, we must be leaders in understanding and defining the value of our profession from a commercial standpoint so that we can provide the right services to our customers and explain and defend the value of those services. To do so, we must step outside current property management practices, regulations, and oversight. We must learn to think and speak in the language of those who fund us--a financial language of risk, cost, and benefit. Regardless of regulation and oversight, our bosses are demanding that we demonstrate (financially) the benefits of current practice, or else. This article is intended to be the beginning of an effort to understand and define our profession in terms of risk, cost, and benefit so that we can meet these new challenges. The first step in this effort must be defining and measuring risk, cost, and benefit. Our costs, although sometimes difficult to capture, are easy to understand: they are almost exclusively the effort, both within and without the property management organization, involved in managing property. Unfortunately, property risks and benefits are not so simple or so well understood. Generally, risks and benefits are identified and measured through physical inventory results: potential and actual shortages. This paper will explore the weaknesses in the current understanding and use of shortage information as the yardstick for property management risks and performance. It will define a new framework for understanding the purpose and value of property management. And finally, it will set a course for a new method of measuring and valuing physical inventoty shortages. This new method will yield accurate and useful measures of property management risk and benefit. Once risk and benefit are accurately

  17. Credit Risk Management. A study on risk integration in the bank lending process.

    NARCIS (Netherlands)

    Sleddens, Linda Elsa Wilhelmina

    2011-01-01

    Credit risk management has been a topic much written about in the last decade. Substantial credit risk losses can undermine the stability of the bank. Both banks and national bank supervisors have realized the need to invest in credit risk management. Partly driven by regulations such as the Basel

  18. Evaluating risk management strategies in resource planning

    International Nuclear Information System (INIS)

    Andrews, C.J.

    1995-01-01

    This paper discusses the evaluation of risk management strategies as a part of integrated resource planning. Value- and scope-related uncertainties can be addressed during the process of planning, but uncertainties in the operating environment require technical analysis within planning models. Flexibility and robustness are two key classes of strategies for managing the risk posed by these uncertainties. This paper reviews standard capacity expansion planning models and shows that they are poorly equipped to compare risk management strategies. Those that acknowledge uncertainty are better at evaluating robustness than flexibility, which implies a bias against flexible options. Techniques are available to overcome this bias

  19. On the new ISO guide on risk management terminology

    International Nuclear Information System (INIS)

    Aven, Terje

    2011-01-01

    A new ISO guide on risk management terminology has recently been issued. The guide provides basic vocabulary for developing a common understanding of risk assessment and risk management concepts and terms among organisations and functions, and across different application areas. It provides the foundation of, for example, the ISO 31000 standard on risk management. The guide strongly influences the risk assessment and risk management field, and its quality is thus of utmost importance. In this paper a critical review of the guide is conducted. We argue that the guide fails in several ways in producing consistent and meaningful definitions of many of the key concepts covered. A main focus is placed on the risk concept, which is defined as the effect of uncertainty on objectives, but also many other definitions are looked into, including probability, vulnerability, hazard, risk identification and risk description. Examples are used to illustrate the problems and show how they can be rectified. Although the focus is on the ISO guide, the discussion is to a large extent general. The overall aim of the paper is to contribute to the further development of the area of risk assessment and risk management by strengthening its conceptual basis.

  20. Farmers' motivations, risk perceptions and risk management strategies in a developing economy: Bangladesh experience

    DEFF Research Database (Denmark)

    Ahsan, D. A.

    2011-01-01

    and farm management training are considered among the best methods to manage the risks in the shrimp-farming business. We also observe some disparities in farmers' perceptions. For instance, farmers mentioned that removal of influence of middlemen from supply chain is essential for the betterment......Aquaculture farmers' risk perceptions and risk management strategies have still received little attention in agricultural research. Therefore, an exploratory study has been undertaken to provide empirical insight into Bangladeshi coastal shrimp farmers' risk perceptions and risk management...... and availability of quality shrimp seeds, exploitation by intermediaries and uncertainty about the future demand for shrimp in foreign markets are perceived as the most important sources of risk. On the other hand, prevention of disease, timely supply of shrimp seeds, elimination of middlemen from the supply chain...