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.

Integrated methodology for production related risk management of vehicle electronics (IMPROVE)

OpenAIRE

Geis, Stefan Rafael

2006-01-01

This scientific work is designated to provide an innovative and integrated conceptional approach to improve the assembly quality of automotive electronics. This is achieved by the reduction and elimination of production related risks of automotive electronics and the implementation of a sustainable solution process. The focus is the development and implementation of an integrated technical risk management approach for automotive electronics throughout the vehicle life cycle and the vehicle pr...

Improving organisational resilience through enterprise security risk management.

Science.gov (United States)

Petruzzi, John; Loyear, Rachelle

Enterprise Security Risk Management (ESRM) is a new philosophy and method of managing security programmes through the use of traditional risk principles. As a philosophy and life cycle, ESRM is focused on creating a business partnership between security practitioners and business leaders to more effectively provide protection against security risks in line with acceptable risk tolerances as defined by business asset owners and stakeholders. This paper explores the basics of the ESRM philosophy and life cycle and also shows how embracing the ESRM philosophy and implementing a risk-based security management model in the business organisation can lead to higher levels of organisational resilience as desired by organisation leaders, executives and the board of directors.

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.

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).

Outage Risk Assessment and Management (ORAM) technology to improve outage safety and economics

International Nuclear Information System (INIS)

Kalra, S.P.

2004-01-01

The Electric Power Research Institute (EPRI) has undertaken an aggressive program, called ORAM (Outage Risk Assessment and Management), to provide utilities with tools and technology to assist in managing risk during the planning and conduct of outages. The ORAM program consists of the following 6 steps: i) Perform utility surveys and visits on shutdown risk management needs, ii) Perform probabilistic shutdown safety assessments (PSSAs) to identify generic insights that can be incorporated into risk management guidelines and identify selected areas for the development of contingency actions, iii) Develop risk management guidelines (RMG's) that provide a systematic approach to the planning and conduct of outages from a safety perspective. Incorporate insights from the shutdown safety assessments and other operating experience into the RMG's. iv) Develop selected contingency actions including a thermalhydraulic tool kit to address higher risk time periods and activities identified in the shutdown safety assessments, v) Develop computer software that integrates all of the above capability into an easy to use tool for effective shutdown operation management for utilities, vi) Provide assistance in the transfer of this technology and the application of these tools. This paper briefly describes the technical approach and tools developed under EPRI's ORAM program and its applications for improving outage safety and economics. (author)

Managing dry spell risks to improve rainfed maize productivity in the ...

African Journals Online (AJOL)

This empirical research was conducted on-station during June to September main growing season over two years (2000 and 2001) to substantiate that, managing dry spell risks through development of compatible technologies can improve rainfed maize productivity in the semi-arid zones of Ethiopia. Firstly, two soil water ...

Business intelligence for improving supply chain risk management

NARCIS (Netherlands)

Liu, L.; Daniels, H.A.M.; Hofman, W.; Hammoudi, S.; Cordeiro, J.; Maciaszek, L.A.; Filipe, J.

2014-01-01

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

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)

[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.

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.

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.

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.

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.

Application of a risk management system to improve drinking water safety.

Science.gov (United States)

Jayaratne, Asoka

2008-12-01

The use of a comprehensive risk management framework is considered a very effective means of managing water quality risks. There are many risk-based systems available to water utilities such as ISO 9001 and Hazard Analysis and Critical Control Point (HACCP). In 2004, the World Health Organization's (WHO) Guidelines for Drinking Water Quality recommended the use of preventive risk management approaches to manage water quality risks. This paper describes the framework adopted by Yarra Valley Water for the development of its Drinking Water Quality Risk Management Plan incorporating HACCP and ISO 9001 systems and demonstrates benefits of Water Safety Plans such as HACCP. Copyright IWA Publishing 2008.

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 .

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.

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.

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...

Improving the Management Systems of the Ownership Risks in Conditions of Transformation of the Russian Economy

OpenAIRE

Mikhail V. Khachaturyan

2016-01-01

The article analyzes problems of improving the management systems of the ownership risks in the conditions of the transformation of the Russian economy. Among the main sources of threats business owners should highlight is the inefficiency of the implementation of business models and interaction with hired managers. In this context, it is particularly important to analyze the relationship of business models and ownership risks. The analysis of this problem appears to be relevant for a number ...

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.

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.

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.

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.

[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.

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.

POSSIBILITIES OF IMPROVING THE METHODS AND TECHNIQUES USED IN THE SURVEILLANCE OF CREDIT RISK MANAGEMENT

Directory of Open Access Journals (Sweden)

Balogh Peter

2010-12-01

Full Text Available Through their daily activities, credit institutions are subject to various risks which could affect both the bank and the whole banking system, national and transnational. The activity field of the banks, marked by volatility, by the internationalization and liberalization of the financial markets, is in a continuous change. The contagion effect, as it has been proved by the spread of the financial crisis effects, determines the surveillance authorities to pay increased attention to the financial risks and implicitly to the systemic risk. In this study, to start with, there shall be presented some aspects regarding the banking rating systems used by the surveillance authorities and then some ways of improving the models of managing credit risk in banks. In the end, there will be demonstrated that the risk profile of the banking institution has a determining role in the management of the credit portfolio.

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

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...

Effectively Managing Nuclear Risk Through Human Performance Improvement

International Nuclear Information System (INIS)

Coe, Richard; Lake, Patricia

2003-01-01

The U.S. commercial nuclear industry has just completed an outstanding decade of plant performance. Safety levels and electric production are at unprecedented high levels and continue to exceed even high industry goals. Nuclear energy continues to keep the highest priority on performance improvement programs and highly trained and qualified people that maintain its record setting safety and reliability of operations. While the industry has maintained a high level of performance, the advent of deregulation and the consolidation of nuclear power plant ownership, as well as the current climate for concern about both rising energy costs and the availability of power, have raised the standard for nuclear energy's level of competitiveness in today's market place. The resulting challenge is how to more effectively manage risk and to improve performance even further in a generally high-performing industry. One of the most effective ways to develop this culture is to apply the principles of Hum an Performance Technology, or HPT. HPT is a relatively new field. Its principles are derived from the research and practice of behavioral and cognitive psychologists, instructional technologists, training designers, organizational developers, and various human resource specialists. Using the principles of HPT can help the nuclear industry successfully meet ever-changing environmental and business demands

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

Developing a caries risk registry to support caries risk assessment and management for children: A quality improvement initiative.

Science.gov (United States)

Ruff, Jesley C; Herndon, Jill Boylston; Horton, Roger A; Lynch, Julie; Mathwig, Dawn C; Leonard, Audra; Aravamudhan, Krishna

2017-10-27

Health registries are commonly used in medicine to support public health activities and are increasingly used in quality improvement (QI) initiatives. Illustrations of dental registries and their QI applications are lacking. Within dentistry, caries risk assessment implementation and documentation are vital to optimal patient care. The purpose of this article is to describe the processes used to develop a caries risk assessment registry as a QI initiative to support clinical caries risk assessment, caries prevention, and disease management for children. Developmental steps reflected Agency for Healthcare Research and Quality recommendations for planning QI registries and included engaging "champions," defining the project, identifying registry features, defining performance dashboard indicators, and pilot testing with participant feedback. We followed Standards for Quality Improvement Reporting Excellence guidelines. Registry eligibility is patients aged 0-17 years. QI tools include prompts to register eligible patients; decision support tools grounded in evidence-based guidelines; and performance dashboard reports delivered at the provider and aggregated levels at regular intervals. The registry was successfully piloted in two practices with documented caries risk assessment increasing from 57 percent to 92 percent and positive feedback regarding the potential to improve dental practice patient centeredness, patient engagement and education, and quality of care. The caries risk assessment registry demonstrates how dental registries may be used in QI efforts to promote joint patient and provider engagement, foster shared decision making, and systematically collect patient information to generate timely and actionable data to improve care quality and patient outcomes at the individual and population levels. © 2017 American Association of Public Health Dentistry.

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.

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

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.

Risk Management for Ag Families: An Extension Model for Improving Family Business Success

OpenAIRE

Bastian, Christopher T.; Nagler, Amy M.; Hewlett, John P.; Weigel, Randolph R.

2006-01-01

A risky business environment for agricultural producers coupled with human risk elements unique to family businesses, points to the need for extension programs that integrate traditional risk management concepts into curriculums focused on the potentially unique educational needs of family farm management teams. Results in this paper indicate that a multi-state, grant funded program entitled "Risk Management for Ag Families" had impact and provides a model that traditional risk management edu...

Assessment of Clinical Risk Management System in Hospitals: An Approach for Quality Improvement.

Science.gov (United States)

Farokhzadian, Jamileh; Dehghan Nayeri, Nahid; Borhani, Fariba

2015-03-18

Clinical risks have created major problems in healthcare system such as serious adverse effects on patient safety and enhancing the financial burden for the healthcare. Thus, clinical risk management (CRM) system has been introduced for improving the quality and safety of services to health care. The aim of this study was to assess the status of CRM in the hospitals. A cross-sectional study was conducted on 200 nursing staff from three teaching hospitals affiliated with the Kerman University of Medical Sciences in southeast of Iran. Data were collected from the participants using questionnaire and observational checklist in quality improvement offices and selected wards. The data were analyzed using SPSS version 20. Almost, 57% of persons participated in at least one of training sessions on CRM. The status of CRM system was rated from weak to moderate (2.93±0.72- 3.18±0.66). Among the six domains of CRM system, the highest mean belonged to domain the monitoring of analysis, evaluation and risk control (3.18±0.72); the lowest mean belonged to domain the staff's knowledge, recognition and understanding of CRM (2.93±0.66). There were no integrated electronic systems for recording and analyzing clinical risks and incidents in the hospitals. Attempts have been made to establish CRM through improvement quality approach such as clinical governance and accreditation, but not enough, however, health care should move toward quality improvement and safe practice through the effective integration of CRM in organizational process.

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...

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.

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

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.

[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.

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.

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...

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

Improving Supply Chain Risk Management by Introducing Performance Measurement Systems

OpenAIRE

Ryding, Anna; Sahlin, Jonatan

2013-01-01

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

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

Improving Supply Chain Management by enhanced Risk Management to minimize the Impact of Disruptions on Supply Chains

NARCIS (Netherlands)

Meyer-Larsen, N.; Drupsteen, L.; Gräf, G.; Maier, L.; Müller, R.

2013-01-01

Risk management, which is the identification and analysis of risks and their mitigation, is increasingly becoming a crucial factor in the management of international intermodal supply chains. On the one hand, security risks are addressed, especially since the terrorist attacks of 11 September 2001.

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.

Risk Management for Ag Families: An Outreach Education Model for Improving Family Business Success

OpenAIRE

Bastian, Christopher; Nagler, Amy; Weigel, Randolph; Hewlett, John

2010-01-01

Did producers benefit from the risk management training program? Overall, responses to program evaluations indicate a positive impact on knowledge levels relating to risk management and the importance of incorporating family aspects into risk management decision making. Moreover, responses to the follow-up questionnaire indicate that respondents had taken steps to adjust their risk management, as it related to training provided in the workshop series. Every respondent indicated specific areas...

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...

Risk Management Technique for design and operation of facilities and equipment

Science.gov (United States)

Fedor, O. H.; Parsons, W. N.; Coutinho, J. De S.

1975-01-01

The Risk Management System collects information from engineering, operating, and management personnel to identify potentially hazardous conditions. This information is used in risk analysis, problem resolution, and contingency planning. The resulting hazard accountability system enables management to monitor all identified hazards. Data from this system are examined in project reviews so that management can decide to eliminate or accept these risks. This technique is particularly effective in improving the management of risks in large, complex, high-energy facilities. These improvements are needed for increased cooperation among industry, regulatory agencies, and the public.

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

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.

Risk management activities at the DOE Class A reactor facilities

International Nuclear Information System (INIS)

Sharp, D.A.; Hill, D.J.; Linn, M.A.; Atkinson, S.A.; Hu, J.P.

1993-01-01

The probabilistic risk assessment (PRA) and risk management group of the Association for Excellence in Reactor Operation (AERO) develops risk management initiatives and standards to improve operation and increase safety of the DOE Class A reactor facilities. Principal risk management applications that have been implemented at each facility are reviewed. The status of a program to develop guidelines for risk management programs at reactor facilities is presented

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.

Credit Risk Evaluation : Modeling - Analysis - Management

OpenAIRE

Wehrspohn, Uwe

2002-01-01

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

The role of organizational culture and leadership in water safety plan implementation for improved risk management

International Nuclear Information System (INIS)

Summerill, Corinna; Pollard, Simon J.T.; Smith, Jennifer A.

2010-01-01

Appropriate implementation of WSPs offers an important opportunity to engage in and promote preventative risk management within water utilities. To ensure success, the whole organization, especially executive management, need to be advocates. Illustrated by two case studies, we discuss the influence of organizational culture on buy-in and commitment to public health protection and WSPs. Despite an internal desire to undertake risk management, some aspects of organizational culture prevented these from reaching full potential. Enabling cultural features included: camaraderie; competition; proactive, involved leaders; community focus; customer service mentality; transparency; accountability; competent workforce; empowerment; appreciation of successes, and a continual improvement culture. Blocking features included: poor communication; inflexibility; complacency; lack of awareness, interest or reward and coercion. We urge water utilities to consider the influence of organizational culture on the success and sustainability of WSP adoption, and better understand how effective leadership can mould culture to support implementation.

The role of organizational culture and leadership in water safety plan implementation for improved risk management

Energy Technology Data Exchange (ETDEWEB)

Summerill, Corinna, E-mail: c.summerill@cranfield.ac.uk [Cranfield University, Centre for Water Science, School of Applied Sciences, Cranfield, Bedfordshire, MK43 0AL (United Kingdom); Pollard, Simon J.T., E-mail: s.pollard@cranfield.ac.uk [Collaborative Centre of Excellence in Understanding and Managing Natural and Environmental Risks, School of Applied Sciences, Cranfield, Bedfordshire, MK43 0AL (United Kingdom); Smith, Jennifer A., E-mail: j.a.smith@cranfield.ac.uk [Cranfield University, Centre for Water Science, School of Applied Sciences, Cranfield, Bedfordshire, MK43 0AL (United Kingdom)

2010-09-15

Appropriate implementation of WSPs offers an important opportunity to engage in and promote preventative risk management within water utilities. To ensure success, the whole organization, especially executive management, need to be advocates. Illustrated by two case studies, we discuss the influence of organizational culture on buy-in and commitment to public health protection and WSPs. Despite an internal desire to undertake risk management, some aspects of organizational culture prevented these from reaching full potential. Enabling cultural features included: camaraderie; competition; proactive, involved leaders; community focus; customer service mentality; transparency; accountability; competent workforce; empowerment; appreciation of successes, and a continual improvement culture. Blocking features included: poor communication; inflexibility; complacency; lack of awareness, interest or reward and coercion. We urge water utilities to consider the influence of organizational culture on the success and sustainability of WSP adoption, and better understand how effective leadership can mould culture to support implementation.

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.

Improvement of Internal Audit Planning Method through Application of Risk Card by the Indices of Value-Based Management System of Joint-Stock Company

OpenAIRE

Oleksandr Smetanko

2014-01-01

The Article deals with issues of improving methods of planning and carrying out internal audit in conditions of risk-oriented approach to audit according to the indices of value-based management system - VBM (Value Based Management) using the risk card (risk matrix). A risk card (risk matrix) method has been disclosed taking into account risk level of each of the key factors influencing joint-stock company value rates. Recommendations have been given and abstract of working document has been ...

Arctic Risk Management (ARMNet) Network: Linking Risk Management Practitioners and Researchers Across the Arctic Regions of Canada and Alaska To Improve Risk, Emergency and Disaster Preparedness and Mitigation Through Comparative Analysis and Applied Research

Science.gov (United States)

Garland, A.

2015-12-01

The Arctic Risk Management Network (ARMNet) was conceived as a trans-disciplinary hub to encourage and facilitate greater cooperation, communication and exchange among American and Canadian academics and practitioners actively engaged in the research, management and mitigation of risks, emergencies and disasters in the Arctic regions. Its aim is to assist regional decision-makers through the sharing of applied research and best practices and to support greater inter-operability and bilateral collaboration through improved networking, joint exercises, workshops, teleconferences, radio programs, and virtual communications (eg. webinars). Most importantly, ARMNet is a clearinghouse for all information related to the management of the frequent hazards of Arctic climate and geography in North America, including new and emerging challenges arising from climate change, increased maritime polar traffic and expanding economic development in the region. ARMNet is an outcome of the Arctic Observing Network (AON) for Long Term Observations, Governance, and Management Discussions, www.arcus.org/search-program. The AON goals continue with CRIOS (www.ariesnonprofit.com/ARIESprojects.php) and coastal erosion research (www.ariesnonprofit.com/webinarCoastalErosion.php) led by the North Slope Borough Risk Management Office with assistance from ARIES (Applied Research in Environmental Sciences Nonprofit, Inc.). The constituency for ARMNet will include all northern academics and researchers, Arctic-based corporations, First Responders (FRs), Emergency Management Offices (EMOs) and Risk Management Offices (RMOs), military, Coast Guard, northern police forces, Search and Rescue (SAR) associations, boroughs, territories and communities throughout the Arctic. This presentation will be of interest to all those engaged in Arctic affairs, describe the genesis of ARMNet and present the results of stakeholder meetings and webinars designed to guide the next stages of the Project.

Lipoprotein metabolism indicators improve cardiovascular risk prediction.

Directory of Open Access Journals (Sweden)

Daniël B van Schalkwijk

Full Text Available BACKGROUND: Cardiovascular disease risk increases when lipoprotein metabolism is dysfunctional. We have developed a computational model able to derive indicators of lipoprotein production, lipolysis, and uptake processes from a single lipoprotein profile measurement. This is the first study to investigate whether lipoprotein metabolism indicators can improve cardiovascular risk prediction and therapy management. METHODS AND RESULTS: We calculated lipoprotein metabolism indicators for 1981 subjects (145 cases, 1836 controls from the Framingham Heart Study offspring cohort in which NMR lipoprotein profiles were measured. We applied a statistical learning algorithm using a support vector machine to select conventional risk factors and lipoprotein metabolism indicators that contributed to predicting risk for general cardiovascular disease. Risk prediction was quantified by the change in the Area-Under-the-ROC-Curve (ΔAUC and by risk reclassification (Net Reclassification Improvement (NRI and Integrated Discrimination Improvement (IDI. Two VLDL lipoprotein metabolism indicators (VLDLE and VLDLH improved cardiovascular risk prediction. We added these indicators to a multivariate model with the best performing conventional risk markers. Our method significantly improved both CVD prediction and risk reclassification. CONCLUSIONS: Two calculated VLDL metabolism indicators significantly improved cardiovascular risk prediction. These indicators may help to reduce prescription of unnecessary cholesterol-lowering medication, reducing costs and possible side-effects. For clinical application, further validation is required.

[Legal and methodical aspects of occupational risk management].

Science.gov (United States)

2011-01-01

Legal and methodical aspects of occupational risk management (ORM) are considered with account of new official documents. Introduction of risk and risk management notions into Labor Code reflects the change of forms of occupational health and safety. The role of hygienist and occupational medicine professionals in workplace conditions certification (WCC) and periodical medical examinations (PME) is strengthened. The ORM could be improved by introducing the block of prognosis and causation based on IT-technologies that could match systems of WCC and PME thus improving the effectiveness of prophylactics.

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

Board of directors and risk management

NARCIS (Netherlands)

van der Elst, C.F.; Birkmose, H.; Neville, M.; Sorensen, K.

2013-01-01

The board of directors is responsible for an appropriate business risk management environment. The paper studies in a comparative way how legislators and courts fill this duty. We question whether the legislative and regulatory framework will improve the equilibrium between entrepreneurship and risk

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.

Risk assessment and quality improvement of liquid waste management in Taiwan University chemical laboratories.

Science.gov (United States)

Ho, Chao-Chung; Chen, Ming-Shu

2018-01-01

The policy of establishing new universities across Taiwan has led to an increase in the number of universities, and many schools have constructed new laboratories to meet students' academic needs. In recent years, there has been an increase in the number of laboratory accidents from the liquid waste in universities. Therefore, how to build a safety system for laboratory liquid waste disposal has become an important issue in the environmental protection, safety, and hygiene of all universities. This study identifies the risk factors of liquid waste disposal and presents an agenda for practices to laboratory managers. An expert questionnaire is adopted to probe into the risk priority procedures of liquid waste disposal; then, the fuzzy theory-based FMEA method and the traditional FMEA method are employed to analyze and improve the procedures for liquid waste disposal. According to the research results, the fuzzy FMEA method is the most effective, and the top 10 potential disabling factors are prioritized for improvement according to the risk priority number (RNP), including "Unclear classification", "Gathering liquid waste without a funnel or a drain pan", "Lack of a clearance and transport contract", "Liquid waste spill during delivery", "Spill over", "Decentralized storage", "Calculating weight in the wrong way", "Compatibility between the container material and the liquid waste", "Lack of dumping and disposal tools", and "Lack of a clear labels for liquid waste containers". After tracking improvements, the overall improvement rate rose to 60.2%. Copyright © 2017 Elsevier Ltd. All rights reserved.

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 )}.

Sustainable improvement of animal health care by systematic quality risk management according to the HACCP concept.

Science.gov (United States)

Noordhuizen, J P; Welpelo, H J

1996-12-01

This paper addresses the principles of the Hazard Analysis Critical Control Point (HACCP) concept as applied to animal health management strategy. Characteristics of the concept were analysed and compared with those of current animal health care strategies for disease risk identification and herd health management, insurance, and certification. HACCP is a hybrid strategy of quality control at both production process and product level. Animal health is considered a particular quality feature. We show that process control (expressed in terms of controlling both general and specific disease risk factors) and product control (expressed in terms of testing animals or animal products for specific disease agents) could form the basis for improving animal health. We conclude that HACCP provides ample opportunity for preventive health action and risk management at a relatively low cost in terms of labour, finance and documentation expenditure, at both the farm and sector level. Epidemiological field studies are currently needed to identify critical control points and to design HACCP procedures for livestock producers. In the long run, HACCP based animal health care can be further developed into a quality control systems approach to cover all aspects that are related, either directly or indirectly, to animal health.

The Impact of Total Risk Management on Company's Performance

OpenAIRE

Mohammed, Hamdu Kedir; Knapkova, Adriana

2016-01-01

Traditionally risk management used to be considered as a means to alleviate perhaps eliminate negative outcomes of exposures. However, the result of this and other empirical studies shows the ability of risk management to go beyond this and respond to market factors which are out of management control in order to control volatilities in earning which ultimately improve corporate performance. The empirical study investigates the relationship between total risk management and company's performa...

Application of an integrated risk management system for improved maintenance in industrial plants

Energy Technology Data Exchange (ETDEWEB)

Jovanovic, A.; Balos, D.T.; Vinod, G.; Balos, D. [Steinbeis Advanced Risk Technologies, Stuttgart (Germany); Stanojevic, P. [NIS - Petroleum Industry of Serbia, Novi Sad (Serbia)

2007-06-15

The paper presents the application of the Integrated Risk Management System (iRiS) and its application to the areas of Risk Based Inspection (RBI), Reliability Centered Maintenance (RCM), Root Cause Failure Analysis (RCFA) and Health, Safety and Environment (HSE). The web-based system integrates also the aspects of risk management related to data acquisition and management and interactive reporting and controlled use of single parts of the system by various individual users and/or user levels. A complementing part of the system is a tool for project management including the documentation and activity management, as well as scheduling and e-education and e-training. The complementing parts of the system are the CMMS part (maintenance management), the extension of HSE to HSSE (including the 'security' aspects and providing links to the disaster management system) and further interfacing towards general management system and process modeling and management systems. Experiences from the applications of system in Hungary (at over 60 units) and in Serbia, for several refineries and further units in upstream and downstream, are presented in the paper. (orig.)

Managing Entrepreneurial Risks under Conditions of Instability of Economic Environment

Directory of Open Access Journals (Sweden)

Miroshnichenko Yurii V.

2013-12-01

Full Text Available The article analyses the state of an organisation under modern conditions of establishment of new competitive relations between subjects of economic activity and transition to the model of market economy, justifies urgency of studies devoted to methods of entrepreneurial risk management. The article analyses factors that influence the risk level and offers own definition of this category. The article sets the task of improvement of the systemised classification of entrepreneurial risk management methods. In the result of the conducted analysis, the authors offered an improved systemised classification of risk management methods and justifies efficiency of its use.

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.

The development and effectiveness of a health information website designed to improve parents' self-efficacy in managing risk for obesity in preschoolers.

Science.gov (United States)

Davies, Marilyn A; Terhorst, Lauren; Nakonechny, Amanda J; Skukla, Nimisha; El Saadawi, Gilan

2014-10-01

To evaluate the effects of web-based information on parental self-efficacy in managing obesity risk in preschoolers. The project included a literature review and the development and field testing of an information website that presented information on how to manage nine obesity risk factors for childhood obesity. Parents stated that they had no problems using the website, and 69% reported improved self-efficacy on at least two risk factors. Many parents access the Internet to obtain health information. A website that offers practical information on managing childhood obesity risk factors is a valuable resource for obesity prevention efforts. © 2014, Wiley Periodicals, Inc.

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

Strengthening the management of ESA - the Inter-Directorate Reform of Corporate and Risk Management

Science.gov (United States)

Feustel-Büechl, Jörg; Arend, Harald; Derio, Eric; Infante, Giovanni; Kreiner, Gerhard; Phaler, Jesse; Tabbert, Michael

2007-02-01

ESA has undertaken the Inter-Directorate Reform of Corporate and Risk Management to strengthen the Agency's internal operations. The reform was completed at the end of 2006, encompassing five dedicated projects on Risk Management, Agency-Wide Controlling System, Project Plan and Integrated Project Review, General Budget Structure and Charging Policy, and Corporate Information Systems. It has contributed to improved management of the Agency's internal operations by engaging all internal stakeholders in a common objective, introducing improvements to planning and management methods, elaborating consolidated information structures and tools, contributing to enhanced transparency and accountability, and by providing qualified new policies, processes and tools.

Management of bank risks in the system of internal financial monitoring

Directory of Open Access Journals (Sweden)

O.V. Lysenok

2015-09-01

Full Text Available Risk is an integral part of banking activities. That is why there are many researches on definition, measurement and monitoring of banking risks. Nowadays it is important to improve the risk management process of legalization (laundering of proceeds from crime or terrorist financing, especially in the present conditions of socio-economic development. This will improve the quality of financial monitoring in the country as a whole and will reduce the risk of attracting banks to laundering money from crime. The article reviews and examines modern management techniques and risk assessment of laundering proceeds from crime. The authors make suggestions to strengthen the tracking and detection of illegal schemes and appropriate approaches to «launder» criminal money. They also offer an appropriate model to manage the risks which accompany the process of laundering the proceeds from crime. According to the study carried out the authors provide their conclusions and recommendations to improve risk management in the system of internal financial monitoring of banks.

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...

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

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

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

Improving SPAWAR PEO C4I Organizational Alignment to Better Enable Enterprise Technical Risk Management

Science.gov (United States)

2017-03-01

dependency requires cross-system risk management . To this end, DOD, as well as businesses in many other industries, are turning toward enterprise...It does not address enterprise risk management . Enterprise risk management is not a new concept, originating in the mid-1990s in private industry...respective university’s business school, the concept of managing risk at an enterprise, or system-of-systems level is also taking hold in the DOD. To

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

[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.

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.

Management of low (favourable)-risk prostate cancer.

Science.gov (United States)

Carter, H Ballentine

2011-12-01

What's known on the subject? and What does the study add? Most men who are diagnosed with favourable-risk prostate cancer undergo some form of active intervention, despite evidence that treatment will not improve health outcomes for many. The decision to undergo treatment after diagnosis is, in part, related to the inability to precisely determine the long-term risk of harm without treatment. Nevertheless, physicians should consider patient age, overall health, and preferences for living with cancer and the potential side effects of curative treatments, before recommending a management option. This is especially important for older men, given the high level of evidence that those with low-risk disease are unlikely to accrue any benefit from curative intervention. What is known on the subject: Over treatment of favourable-risk prostate cancer is common, especially among older men. What does the study add: A review of the natural history of favourable-risk prostate cancer in the context of choices for management of the disease. • The management of favourable-risk prostate cancer is controversial, and in the absence of controlled trials to inform best practice, choices are driven by personal beliefs with resultant wide variation in practice patterns. • Men with favourable-risk prostate cancer diagnosed today often undergo treatments that will not improve overall health outcomes. • A shared-decision approach for selecting optimal management of favourable-risk disease should account for patient age, overall health, and preferences for living with cancer and the potential side effects of curative treatments. © 2011 THE AUTHOR. BJU INTERNATIONAL © 2011 BJU INTERNATIONAL.

NGNP Risk Management Database: A Model for Managing Risk

International Nuclear Information System (INIS)

Collins, John

2009-01-01

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

NGNP Risk Management Database: A Model for Managing Risk

Energy Technology Data Exchange (ETDEWEB)

John Collins

2009-09-01

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

The management object in risk management approaches

OpenAIRE

Christiansen, Ulrik

2013-01-01

Using a systematic review of the last 55 years of research within risk management this paper explores how risk management as a management technology (methodologies, tools and frameworks to mitigate or manage risks) singles out risks as an object for management in order to make action possible. The paper synthesise by developing a framework of how different views on risk management enable and constrain the knowledge about risk and thus frame the possibilities to measure, analyse an...

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....

MANAGING THE USE OF DERIVATIVE INSTRUMENTS FOR PORTFOLIO RISK PURPOSES

Directory of Open Access Journals (Sweden)

Mădălina Antoaneta RĂDOI

2017-05-01

Full Text Available The priority in portfolio management is a good risk assessment and management. Of great importance is the margin that an asset portfolio guarantor must use with specific expertise in certain areas of market temporal inefficiency in order to improve its management performance. The relevant validity of the financial market and the emphasis laid on risk management carried along the development of financial instruments tailored to risk management. New derivative financial instruments have revolutionized the methods of portfolio management, of corporate treasury management, of banking management and, more generally, all financial strategies.

Ontological Analysis of the Project Risk Management Concept ‘Risk’

Directory of Open Access Journals (Sweden)

Uzulāns Juris

2018-02-01

Full Text Available The aim of the current research series is to examine the definitions of the concept ‘risk’ and analyze the concepts used in the definitions of ‘risk’ in the sources of these definitions in order to perform the ontological analysis of the concept of ‘risk’. Ontological and epistemological analysis of the concepts in the definition of the concept ‘risk’ was used to answer the question what ‘risk’ means in project management. This investigation represents a part of the research series where the ontological, epistemological and methodological analysis of project risk is performed with the aim to improve risk registers and risk management as a whole. In the previous studies the author analyzed the concept of ‘event’ that defines the content of the concept ‘risk’. The use of ‘event’ was analyzed in different sources to find out how the concept should be used. The ontological, epistemological and methodological analysis of the definitions of the concept ‘risk’ is the theoretical foundation for risk register creation because it is possible to create complete and understandable register for the participants of the project risk management process. The author believes that the conducted research helps establish confidence that ontological analysis is the method that together with the epistemological and methodological analysis provides opportunity to perform analysis of risk management sources aimed at improving risk management. The results of the study cannot be considered sufficient for deriving valid conclusions about project risk management and developing recommendations for improving risk management with regard to the content of the risk register. For valid conclusions and recommendations, a deeper research is needed which, first of all, would analyze a larger number of sources.

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

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

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.

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

RISK ANALYSIS AND INTERNAL CONTROL ASSESSMENT - PREMISES FOR IMPROVING MANAGEMENT AT THE LEVEL OF ROMANIAN PUBLIC ENTITIES

Directory of Open Access Journals (Sweden)

CRISTINA MARIA VOINEA

2015-10-01

Full Text Available Romania, as a European Union member state, has undergone, in recent years, a complex process of reform in all activity fields. This includes the current process of public administration reform, which aims to improve the management, the administrative capacity and the manner in which the entire Romanian public sector is organized. In this study, we intend to portray the manner in which the internal control system and the internal audit structure of a Romanian public entity are shaped into form. For exemplification, we chose the internal audit mission titled “The Accounting System and Its Reliability”. We will identify the risks, we will assess them and we will also propose measures through which the entity’s management may mitigate these risks by correcting registered deviations.

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.

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.

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

Comparative Risk Analysis for Metropolitan Solid Waste Management Systems

Science.gov (United States)

Chang, Ni-Bin; Wang, S. F.

1996-01-01

Conventional solid waste management planning usually focuses on economic optimization, in which the related environmental impacts or risks are rarely considered. The purpose of this paper is to illustrate the methodology of how optimization concepts and techniques can be applied to structure and solve risk management problems such that the impacts of air pollution, leachate, traffic congestion, and noise increments can be regulated in the iong-term planning of metropolitan solid waste management systems. Management alternatives are sequentially evaluated by adding several environmental risk control constraints stepwise in an attempt to improve the management strategies and reduce the risk impacts in the long run. Statistics associated with those risk control mechanisms are presented as well. Siting, routing, and financial decision making in such solid waste management systems can also be achieved with respect to various resource limitations and disposal requirements.

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...

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

Directory of Open Access Journals (Sweden)

A. V. Nikolaeva

2016-01-01

. The article considers the statistics of the mortgage market of recent years and analyzes the new requirements to the banks, involved in mortgage landing. The work offers some new advanced approaches for risk management of mortgage lending in the Russian banking sector, that improve the reliability of banking operations and increase trust between contractors.Conclusion: In 2016 the Basel Committee concluded that risk management in Russia meets international standards, and some standards imposed in our country are even stricter than required in the last international agreement.  However, the accelerated implementation of the new standard in Russia is rather risky. By implementing "Basel 3" in the context of high capital requirements, the Central Bank believes that standards will be acceptable only to the large banks, and for others these requirements will lead to losses. This advanced approaches to risk management also require more careful monitoring. So on the one hand, these banks will be better protected from stock market risks and it will lead to formation of highreliable banking system. But the question is: how this system will develop in the conditions of lack of competition?

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

Using expert judgments to improve chronic wasting disease risk management in Canada.

Science.gov (United States)

Oraby, Tamer; Tyshenko, Michael G; Westphal, Margit; Darshan, Shalu; Croteau, Maxine C; Aspinall, Willy; Elsaadany, Susie; Cashman, Neil; Krewski, Daniel

2016-01-01

ABSTARCT Chronic wasting disease (CWD) is a neurodegenerative, protein misfolding disease affecting cervids in North America in epidemic proportions. While the existence of CWD has been known for more than 40 years, risk management efforts to date have not been able to curtail the spread of this condition. An expert elicitation exercise was carried out in May 2011 to obtain the views of international experts on both the etiology of CWD and possible CWD risk management strategies. This study presents the results of the following three components of the elicitation exercise: (1) expert views of the most likely scenarios for the evolution of the CWD among cervid populations in Canada, (2) ranking analyses of the importance of direct and indirect transmission routes, and (3) rating analyses of CWD control measures in farmed and wild cervids. The implications of these findings for the development of CWD risk management strategies are described in a Canadian context.

The Reputation Crisis: Risk Management Based Logical Framework to the Corporate Sustainability

OpenAIRE

Yilmaz, Ayse Kucuk; Kucuk, Ferziye

2010-01-01

Risk is a constituent part of both the business and the society in which we survive. Reputation is valuable assest for corporates in sustainable way. Integrating risk management with strategy-setting, such as an enterprise risk management (ERM) approach, helps an organization manage its risks to protect and enhance enterprise value in three ways. First, it helps to establish sustainable competitive advantage. Second, it optimizes the cost of managing risk. Third, it helps management improve b...

Improvement of Bank Risks Management on the Basis of “Monitoring – Identification – Protection” Technique

Directory of Open Access Journals (Sweden)

Zabezhaylo Ivan Mikhaylovich

2014-11-01

Full Text Available The banking system in contemporary conditions becomes the critically important subsystem of any national economy. To ensure a successful and profitable operation of the bank the effective management of associated risks is necessary. A technique of banking risk management, which includes three functional blocks: monitoring, identification and protection against risks, is proposed in the article. A key element of the proposed method is the stage of optimization of risk management in the context of the particular situation of data analysis and decision making. The two-factor model of optimizing the choice of means of risk management is argued. This model implies two options: to minimize the level of allowable risks when you fix the volume of the resources required for reliable risk management in this particular situation on an acceptable (target, desired level; or to minimize the volume of the resources required for reliable in this situation analyzed risk management when you fixed appropriate risks at an acceptable level. The technique is based on an integrated approach, the basic elements of which are the abilities to work with different types of data, and to use common methods and means of data processing. The proposed method makes it possible to integrate qualitative and quantitative risk management tools in a single process of data analysis and decision making support. The proposed method of banking risk management is a tool to detail the national regulators recommendations by taking into account the specific (context features of a particular financial institution management during its implementation. The technique allows for contextual tools setting, depending on the application field.

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

Risk Management in the Implementation of Smart Building Projects

Directory of Open Access Journals (Sweden)

Kankhva Vadim

2017-01-01

Full Text Available This article contains the results of a study of the risk control structure in the implementation of smart building projects, which are presented herein in the form of an operational risk management mechanism developed by the author and an improved definition of the risk management system. The mechanism is developed based on the analysis of a review of the current state of the construction sector and the existing organizational structures of construction companies, as well as based on the identification of new necessary functions and objectives of risk management systems. The results of the study can be used in the process of development and integration of risk management systems by the existing construction companies specialized in the construction of smart buildings.

Landslide risk impact management and web services for improving resilience: the LIFE+IMAGINE project approach

Science.gov (United States)

Congi, Maria Pia; Campo, Valentina; Cipolloni, Carlo; Delmonaco, Giuseppe; Guerrieri, Luca; Iadanza, Carla; Spizzichino, Daniele; Trigila, Alessandro

2014-05-01

The increasing damage caused by natural disasters in the last decades points out the need for interoperable added-value services to support environmental safety and human protection, by reducing vulnerability of exposed elements as well as improving the resilience of the involved communities. For this reason, to provide access to harmonized and customized data is only one of several steps towards delivering adequate support to risk assessment, reduction and management. Scope of the present work is to illustrate a methodology under development for analysis of potential impacts in areas prone to landslide hazard in the framework of the EC project LIFE+IMAGINE. The project aims to implement an infrastructure based on web services for environmental analysis, that integrates in its own architecture specifications and results from INSPIRE, SEIS and GMES. Existing web services will be customized during the project to provide functionalities for supporting the environmental integrated management. The implemented infrastructure will be applied to landslide risk scenarios, to be developed in selected pilot areas, aiming at: i) application of standard procedures to implement a landslide risk analysis; ii) definition of a procedure for assessment of potential environmental impacts, based on a set of indicators to estimate the different exposed elements with their specific vulnerability in the pilot area. More in detail, the landslide pilot will be aimed at providing a landslide risk scenario through the implementation and analysis of: 1) a landslide inventory from available historical databases and maps; 2) landslide susceptibility and hazard maps; 3) assessment of exposure and vulnerability on selected typologies of elements at risk; 4) implementation of a landslide risk scenario for different sets of exposed elements (e.g. population, road network, residential area, cultural heritage). The pilot will be implemented in Liguria, Italy, in two different catchment areas located

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

Energy Technology Data Exchange (ETDEWEB)

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

2009-05-27

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

Workplace road safety risk management: An investigation into Australian practices.

Science.gov (United States)

Warmerdam, Amanda; Newnam, Sharon; Sheppard, Dianne; Griffin, Mark; Stevenson, Mark

2017-01-01

In Australia, more than 30% of the traffic volume can be attributed to work-related vehicles. Although work-related driver safety has been given increasing attention in the scientific literature, it is uncertain how well this knowledge has been translated into practice in industry. It is also unclear how current practice in industry can inform scientific knowledge. The aim of the research was to use a benchmarking tool developed by the National Road Safety Partnership Program to assess industry maturity in relation to risk management practices. A total of 83 managers from a range of small, medium and large organisations were recruited through the Victorian Work Authority. Semi-structured interviews aimed at eliciting information on current organisational practices, as well as policy and procedures around work-related driving were conducted and the data mapped onto the benchmarking tool. Overall, the results demonstrated varying levels of maturity of risk management practices across organisations, highlighting the need to build accountability within organisations, improve communication practices, improve journey management, reduce vehicle-related risk, improve driver competency through an effective workplace road safety management program and review organisational incident and infringement management. The findings of the study have important implications for industry and highlight the need to review current risk management practices. Copyright © 2016 Elsevier Ltd. All rights reserved.

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)

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)

Risk Management and Uncertainty in Large Complex Public Projects

DEFF Research Database (Denmark)

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

Governmental actors worldwide are promoting risk management as a rational approach to man-age uncertainty and improve the abilities to deliver large complex projects according to budget, time plans, and pre-set project specifications: But what do we know about the effects of risk management...... on the abilities to meet such objectives? Using Callon’s (1998) twin notions of framing and overflowing we examine the implementation of risk management within the Dan-ish public sector and the effects this generated for the management of two large complex pro-jects. We show how the rational framing of risk...... management have generated unexpected costly outcomes such as: the undermining of the longer-term value and societal relevance of the built asset, the negligence of the wider range of uncertainties emerging during project processes, and constraining forms of knowledge. We also show how expert accountants play...

Managing risks in the project pipeline.

Science.gov (United States)

2013-08-01

This research focuses on how to manage the risks of project costs and revenue uncertainties over the long-term, and identifies significant : process improvements to ensure projects are delivered on time and as intended, thus maximizing the miles pave...

[Application of risk grading and classification for occupational hazards in risk management for a shipbuilding project].

Science.gov (United States)

Zeng, Wenfeng; Tan, Qiang; Wu, Shihua; Deng, Yingcong; Liu, Lifen; Wang, Zhi; Liu, Yimin

2015-12-01

To investigate the application of risk grading and classification for occupational hazards in risk management for a shipbuilding project. The risk management for this shipbuilding project was performed by a comprehensive application of MES evaluation, quality assessment of occupational health management, and risk grading and classification for occupational hazards, through the methods of occupational health survey, occupational health testing, and occupational health examinations. The results of MES evaluation showed that the risk of occupational hazards in this project was grade 3, which was considered as significant risk; Q value calculated by quality assessment of occupational health management was 0.52, which was considered to be unqualified; the comprehensive evaluation with these two methods showed that the integrated risk rating for this shipbuilding project was class D, and follow- up and rectification were needed with a focus on the improvement in health management. The application of MES evaluation and quality assessment of occupational health management in risk management for occupational hazards can achieve objective and reasonable conclusions and has good applicability.

Models for assessing and managing credit risk

Directory of Open Access Journals (Sweden)

Neogradi Slađana

2014-01-01

Full Text Available This essay deals with the definition of a model for assessing and managing credit risk. Risk is an inseparable component of any average and normal credit transaction. Looking at the different aspects of the identification and classification of risk in the banking industry as well as representation of the key components of modern risk management. In the first part of the essay will analyze how the impact of credit risk on bank and empirical models for determining the financial difficulties in which the company can be found. Bank on the basis of these models can reduce number of approved risk assets. In the second part, we consider models for improving credit risk with emphasis on Basel I, II and III, and the third part, we conclude that the most appropriate model and gives the best effect for measuring credit risk in domestic banks.

Investment risk management by applying contemporary modern portfolio theory

Directory of Open Access Journals (Sweden)

Jakšić Milena

2015-01-01

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

Investigation of risk management auditing

International Nuclear Information System (INIS)

Cao Lu

2012-01-01

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

RISK MANAGEMENT: AN INTEGRATED APPROACH TO RISK MANAGEMENT AND ASSESSMENT

Directory of Open Access Journals (Sweden)

Szabo Alina

2012-12-01

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

Danish risk management plans of the EU Floods Directive

DEFF Research Database (Denmark)

Jebens, Martin; Sørensen, Carlo Sass; Piontkowitz, Thorsten

2016-01-01

We evaluate the impact and effect of the EU Flood’s Directive (2007/60/EC) in Denmark and the flood risk management plans that are the result of the national implementation. In a qualitative research approach, the flood risk management plans published by 22 Danish municipalities are reviewed...... and analyzed regarding main objectives and structural and non-structural mitigation measures. From the analyses conclusions are drawn on the non-structural risk management measures still to be improved to obtain the full benefits from the Directive. Conclusions point to the need of introducing better decision...... and cross-sectorial working platform for dealing with risks from floods....

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.

[OCCUPATIONAL HEALTH RISK ASSESSMENT AND MANAGEMENT IN WORKERS IN IMPROVEMENT OF NATIONAL POLICY IN OCCUPATIONAL HYGIENE AND SAFETY].

Science.gov (United States)

Shur, P Z; Zaĭtseva, N V; Alekseev, V B; Shliapnikov, D M

2015-01-01

In accordance with the international documents in the field of occupational safety and hygiene, the assessment and minimization of occupational risks is a key instrument for the health maintenance of workers. One of the main ways to achieve it is the minimization of occupational risks. Correspondingly, the instrument for the implementation of this method is the methodology of analysis of occupational risks. In Russian Federation there were the preconditions for the formation of the system for the assessment and management of occupational risks. As the target of the national (state) policy in the field of occupational safety in accordance with ILO Conventions it can be offered the prevention of accidents and injuries to health arising from work or related with it, minimizing the causes of hazards inherent in the working environment, as far as it is reasonably and practically feasible. Global trend ofusing the methodology of the assessment and management of occupational risks to life and health of citizens requires the improvement of national policies in the field of occupational hygiene and safety. Achieving an acceptable level of occupational risk in the formation of national policy in the field of occupational hygiene and safety can be considered as one of the main tasks.

On Best Practices for Risk Management in Complex Projects

Directory of Open Access Journals (Sweden)

Dan BENTA

2011-01-01

Full Text Available Risk management shall be proactive. This is one of the key preliminaries to cope with the challenges of complex projects. An overarching and consistent view on project risks and uncertainties is necessary to follow a holistic approach in project risk management. Uncertainty is inevitable since projects are unique and temporary undertakings based on assumptions and constraints, delivering project results to multiple stakeholders with different requirements. Project management can be seen as an attempt to control this uncertain environment, through the use of structured and disciplined techniques such as estimating, planning, cost control, task allocation, earned value analysis, monitoring, and review meetings. Each of these elements of project management has a role in defining or controlling inherent variability in projects. Project risk management provides approaches by which uncertainty can be understood, assessed, and managed within projects. A number of associations (e.g., Project Management Institute – PMI®, International Project Management Association – IPMA,or Network of Nordic Project Management Associations - NORDNET work constantly in acquiring, improving, and standardizing best practices in project management.Based on the industrial practice, this paper outlines strategies to identify, prioritize, and mitigate risks for achievement of project’ or organizational objectives.

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....

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

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 ...

Science-Driven Approach to Disaster Risk and Crisis Management

Science.gov (United States)

Ismail-Zadeh, A.

2014-12-01

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

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.

Managing industrial price risk: a balancing act

International Nuclear Information System (INIS)

Muse, J-F.

2000-01-01

The challenge of managing industrial price risk is assessed by a senior executive of Cargill, a diversified industrial conglomerate, involved in steel manufacturing and recycling, oilseeds, cocoa, beef, pork, and poultry processing, fertilizer and fruit juice production, in addition to trading and financial risk management. Energy is a key component in many of Cargill's businesses, hence the company has good reason to be concerned about price volatility. The effects of energy risk management on the company's shareholders are demonstrated by an analysis of month-to-month price fluctuations over the Nov 1999 to Oct 2000 period, showing the monthly value of risk at the 95 per cent confidence level as $4,832,195. The effects of alternatives for an end-user such as passing on cost to customers, improving energy efficiency. fuel switching and production curtailment, are explored and limitations and problems with each of the approaches are discussed. The best options for industrial end-users of natural gas are suggested to be a proactive risk management program in the short-term and asset diversification, fuel switching, and geographic relocation of production facilities in the long-term

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...

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...

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

Science.gov (United States)

Frey, H. Christopher; Hubbell, Bryan

2010-01-01

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

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)

[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.

Risk management as a modern sustainable development of the enterprise management tool

Directory of Open Access Journals (Sweden)

Aikhel K.V.

2017-01-01

Full Text Available Actively embedding in the international market processes, domestic industrial enterprises improve their management tools to create competitive structures. Spread one of the modern approaches to Business Engineering defines risk management as the starting point of building processes of the company. Adapting the method of analyzing hierarchies for quantitative risk assessment will increase the efficiency for the implementation of the new management approach, taking into account the existing time limits and the initial data, which in turn will ensure the stability of enterprises operations in the face of uncertainty. From the point of view of prospect of development, stability of the modern enterprises is also reflection of their competitiveness.

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

interactive reliance upon risk models but with clear, well founded analytical bases. This methodology is being expanded to address both forced outage and at-power configurations. The result will provide a consistent framework which relies upon appropriate models for each configuration but presents consistent understandable information to management and decision makers. The use of such tools clearly represents an opportunity to improve the decision making process and enhance overall operational effectiveness. This paper includes examples of shutdown, at-power, and forced outage situations and presents management guidance appropriate for such cases. Several analytical methods currently being used are presented. (author)

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.

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...

Specifying risk management standard for flood risk assessment: a framework for resources allocation

Directory of Open Access Journals (Sweden)

Yunika Anastasia

2017-01-01

Full Text Available General risk management standard, e.g. ISO 31000:2009, approaches risk as a coin with a pair of two sides, i.e. the threat and the opportunity. However, it is hardly the case of flood events which mainly come as threats. Despite the contrary, this study explores the potential applicability of the available risk management standards specifically for flood. It then also synthesizes the components to result a framework for allocating resources among various strategies to result the optimum flood risk reduction. In order to review its applicability, the framework is then reviewed using several historic flood risk reduction cases. Its results are qualitatively discussed and summarized including the possible improvement of the framework for further applications.

Holistic Disaster Risk Evaluation for the Urban Risk Management Plan of Manizales, Colombia

Institute of Scientific and Technical Information of China (English)

Martha Liliana Carre(n)o; Omar-Darío Cardona; Alex H.Barbat; Dora Catalina Suarez; María del Pilar Perez; Lizardo Narvaez

2017-01-01

Disaster risk depends on both the physical vulnerability and a wide range of social,economic,and environmental aspects of a society.For a better risk understanding,a holistic or integrated perspective was considered when risk was assessed for the city of Manizales,Colombia.This assessment accounts not only for the expected physical damage and loss,but also for the socioeconomic vulnerability factors that favor secondorder effects in a disaster.This comprehensive approach allows the identification of different aspects related to physical vulnerability,social fragility,and lack of resilience that can be improved,thus enhancing integrated disaster risk management actions.The outcomes of this comprehensive assessment are currently being used as input to update the disaster risk management plan of Manizales.

Effectiveness of a Stroke Risk Self-Management Intervention for Adults with Prehypertension

Directory of Open Access Journals (Sweden)

Hee-Young Song, RN, PhD

2015-12-01

Conclusions: Our preliminary results indicate that the stroke risk self-management intervention is feasible and associated with improvement in self-management of stroke risk factors for primary stroke prevention among a prehypertensive population.

Governmental management of chemical risk

International Nuclear Information System (INIS)

Zimmerman, R.

1990-01-01

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

Managing the risks of risk management on large fires

Science.gov (United States)

Donald G. MacGregor; Armando González-Cabán

2013-01-01

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

Risk management as applied to collider dipole magnet development

International Nuclear Information System (INIS)

Patel, R.

1992-01-01

The risk management procedure described here represent sound engineering and management practice. By implementing these practices in the CDM program it has allowed us to maximize the resources for overall productivity. The risk management program is supported by all personnel working for the GDSS CDM program, which includes Engineering, Test, Quality Assurance, Production, Facility, Material and Management. Best of all, it is supported, encouraged, directed and monitored by program management. Using this structured process we are able to identify and resolve problems and issues before they have adverse impact to the program. This procedure serves as a long range Attention-Getter before preventable problems turn into crises. Risk management provides a broad range of potential risk assessment and allows us to utilize management resources and expertise for effective and timely solutions. This is a useful management tool to use in a concurrent engineering environment to reduce the barriers between Design, Test, Production, etc. It provides a creative climate and improves communication. Individuals receive feedback and support, not criticism

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.

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.

SYNERGISTIC EFFECTS OF TOTAL QUALITY MANAGEMENT AND OPERATIONAL RISK MANAGEMENT IN CENTRAL BANKS

Directory of Open Access Journals (Sweden)

Radoica Luburić

2012-12-01

Full Text Available This paper focuses on two very important and current approaches to management: Total Quality Management (TQM and Operational Risk Management (ORM. As a paradigm of business success, TQM provides the key assumptions for survival, development and success of an organisation, regardless of any limitations whatsoever. ORM, on the other hand, is predetermined to be an irreplaceable managerial tool that enables organisations to survive in any environment. In times of accelerated political, economic and technological changes, frequent natural disasters, acts of terrorism and other external events, a successful risk management has been gaining importance and becomes one of the key competitive advantages of an organisation. The ultimate objective is to make TQM and ORM, as two rather compatible and complementary approaches to risk management, harmonized, efficient and functional in order to get their synergistic effects in an organisation in full swing and practice. Various organisations, and thus central banks as conservative institutions, have an innovative opportunity to timely minimize their operational risk through preventive, comprehensive and synergistic operation of TQM and ORM and thus significantly contribute to improving their business performance.

Quality Risk Management: Putting GMP Controls First.

Science.gov (United States)

O'Donnell, Kevin; Greene, Anne; Zwitkovits, Michael; Calnan, Nuala

2012-01-01

This paper presents a practical way in which current approaches to quality risk management (QRM) may be improved, such that they better support qualification, validation programs, and change control proposals at manufacturing sites. The paper is focused on the treatment of good manufacturing practice (GMP) controls during QRM exercises. It specifically addresses why it is important to evaluate and classify such controls in terms of how they affect the severity, probability of occurrence, and detection ratings that may be assigned to potential failure modes or negative events. It also presents a QRM process that is designed to directly link the outputs of risk assessments and risk control activities with qualification and validation protocols in the GMP environment. This paper concerns the need for improvement in the use of risk-based principles and tools when working to ensure that the manufacturing processes used to produce medicines, and their related equipment, are appropriate. Manufacturing processes need to be validated (or proven) to demonstrate that they can produce a medicine of the required quality. The items of equipment used in such processes need to be qualified, in order to prove that they are fit for their intended use. Quality risk management (QRM) tools can be used to support such qualification and validation activities, but their use should be science-based and subject to as little subjectivity and uncertainty as possible. When changes are proposed to manufacturing processes, equipment, or related activities, they also need careful evaluation to ensure that any risks present are managed effectively. This paper presents a practical approach to how QRM may be improved so that it better supports qualification, validation programs, and change control proposals in a more scientific way. This improved approach is based on the treatment of what are called good manufacturing process (GMP) controls during those QRM exercises. A GMP control can be considered

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

Directory of Open Access Journals (Sweden)

Александр Васильевич Харитонович

2016-02-01

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

Gambling in Latin: incorporating uncertainty in risk management

Energy Technology Data Exchange (ETDEWEB)

Gratt, L.B.; Levin, L. (IWG Corporation, San Diego, CA (United States))

1994-08-01

Risk assessment uses assumptions based on differing degrees of conservatism. This complicates the understanding of the uncertainty in the final risk estimate. Uncertainties arise from each component of the risk assessment process: source terms, atmospheric transport, exposure, and dose response. Probabilistic modeling using Monte Carlo and Latin Square sampling techniques (reference to Gambling in Latin) allows for an improved approach to risk assessment and management. 16 refs., 1 fig., 1 tab.

Optimizing risk management

International Nuclear Information System (INIS)

Kindred, G.W.

2000-01-01

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

Risk management and safety

International Nuclear Information System (INIS)

Niehaus, F.; Novegno, A.

1985-01-01

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

Managing perceived operational risk factors for effective supply-chain management

Science.gov (United States)

Sylla, Cheickna

2014-12-01

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

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 ...

QUALITY MANAGEMENT IN TERMS OF STRENGTHENING THE "THREE LINES OF DEFENCE" IN RISK MANAGEMENT - PROCESS APPROACH

OpenAIRE

Radoica Luburic; Milan Perovic; Rajko Sekulovic

2015-01-01

The authors of the paper analyze risk management processes contained in the model considering its longstanding application in many European organisations. The paper also analyses quality management system (QMS) standards and risk management (RM) standards. It particularly addresses the process approach to QMS which, when coupled with active involvement of employees and constant improvements, makes this approach interesting as the topic of this paper. The analyses herein resulted in integratin...

75 FR 20717 - Federal Housing Administration: Continuation of FHA Reform; Strengthening Risk Management Through...

Science.gov (United States)

2010-04-20

... Administration: Continuation of FHA Reform; Strengthening Risk Management Through Responsible FHA-Approved...) that are designed to strengthen FHA by improving its management of risk. This final rule increases the... designed to enhance FHA's risk management functions. The announcement preceded completion of an independent...

Sustaining a Mature Risk Management Process: Ensuring the International Space Station for a Vibrant Future

Science.gov (United States)

Raftery, Michael; Carter-Journet, Katrina

2013-01-01

The International Space Station (ISS) risk management methodology is an example of a mature and sustainable process. Risk management is a systematic approach used to proactively identify, analyze, plan, track, control, communicate, and document risks to help management make risk-informed decisions that increase the likelihood of achieving program objectives. The ISS has been operating in space for over 14 years and permanently crewed for over 12 years. It is the longest surviving habitable vehicle in low Earth orbit history. Without a mature and proven risk management plan, it would be increasingly difficult to achieve mission success throughout the life of the ISS Program. A successful risk management process must be able to adapt to a dynamic program. As ISS program-level decision processes have evolved, so too has the ISS risk management process continued to innovate, improve, and adapt. Constant adaptation of risk management tools and an ever-improving process is essential to the continued success of the ISS Program. Above all, sustained support from program management is vital to risk management continued effectiveness. Risk management is valued and stressed as an important process by the ISS Program.

Risk management in nuclear projects

International Nuclear Information System (INIS)

Salles, Claudio J.R.

2002-01-01

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

Risk Management for e-Business

Directory of Open Access Journals (Sweden)

2007-01-01

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

Effect of a computer-guided, quality improvement program for cardiovascular disease risk management in primary health care: the treatment of cardiovascular risk using electronic decision support cluster-randomized trial.

Science.gov (United States)

Peiris, David; Usherwood, Tim; Panaretto, Kathryn; Harris, Mark; Hunt, Jennifer; Redfern, Julie; Zwar, Nicholas; Colagiuri, Stephen; Hayman, Noel; Lo, Serigne; Patel, Bindu; Lyford, Marilyn; MacMahon, Stephen; Neal, Bruce; Sullivan, David; Cass, Alan; Jackson, Rod; Patel, Anushka

2015-01-01

Despite effective treatments to reduce cardiovascular disease risk, their translation into practice is limited. Using a parallel arm cluster-randomized controlled trial in 60 Australian primary healthcare centers, we tested whether a multifaceted quality improvement intervention comprising computerized decision support, audit/feedback tools, and staff training improved (1) guideline-indicated risk factor measurements and (2) guideline-indicated medications for those at high cardiovascular disease risk. Centers had to use a compatible software system, and eligible patients were regular attendees (Aboriginal and Torres Strait Islander people aged ≥ 35 years and others aged ≥ 45 years). Patient-level analyses were conducted using generalized estimating equations to account for clustering. Median follow-up for 38,725 patients (mean age, 61.0 years; 42% men) was 17.5 months. Mean monthly staff support was improved overall risk factor measurements (62.8% versus 53.4% risk ratio; 1.25; 95% confidence interval, 1.04-1.50; P=0.02), but there was no significant differences in recommended prescriptions for the high-risk cohort (n=10,308; 56.8% versus 51.2%; P=0.12). There were significant treatment escalations (new prescriptions or increased numbers of medicines) for antiplatelet (17.9% versus 2.7%; Pquality improvement intervention, requiring minimal support, improved cardiovascular disease risk measurement but did not increase prescription rates in the high-risk group. Computerized quality improvement tools offer an important, albeit partial, solution to improving primary healthcare system capacity for cardiovascular disease risk management. https://www.anzctr.org.au/Trial/Registration/TrialReview.aspx?id=336630. Australian New Zealand Clinical Trials Registry No. 12611000478910. © 2015 American Heart Association, Inc.

Application of Total Quality Management (TQM Requirements in Risk Management in Construction Projects in Iraq

Directory of Open Access Journals (Sweden)

Entisar K. Al-Geelawee

2016-06-01

Full Text Available Total quality management considers one of the modern scientific entrances which practiced by productivity service organizations alike to provide appropriate quality required outputs according to the needs and desires of customers manage , enable the organization seeking to continue and grow in light of the increasing competition from the satisfy and provide the appropriate total quality management requirements whenever led to face risks that they may have in a manner in which they can be addressed and find ways to avoid them in the future when repeated. The research has consist of two main parts firstly have included a review of the most important concepts of total quality management in addition to the concept of risk analysis and management in construction projects and how to apply the concept of total quality management in the risk analysis and management. Second part included the practical part of the research, which was open and closed questionnaire for experts in the construction industry to obtain required informations for the application of total quality management requirements in risk management in construction projects in Iraq. One of the main findings of the research is that top management support has a high impact on risk management in addition to continuous improvement, training and education, while the participation of all employees in the organization and constant stimulation and focusing on the customer as one of the total quality management requirements had a moderate impact on risk management.

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:...

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.

Operational Risk Management: Increasing Mission Effectiveness Through Improved Planning and Execution of Joint Operations

National Research Council Canada - National Science Library

Beckvonpeccoz, Stephen

1997-01-01

.... This deficiency should be remedied with the adoption of Operational Risk Management (ORM), an existing process which would provide operational commanders a tool for making smarter risk decisions...

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

Risk management on the winegrowing farms at Northwest Croatia

Directory of Open Access Journals (Sweden)

Hrvoje SMRKULJ

2016-02-01

Full Text Available The main goal of this paper was to determine perceptions of risk and risk management strategies by winemakers. Primary research was based on the sample of 38 randomly selected winegrowers in the Croatian northwestern sub region of Zagorje – Međimurje. Winegrowers are relatively unwilling to take risks. In the process of making business decisions most of them rely on their own experience, advices and recommendations learned by attending winegrower association courses together with critics of their customers. Highly evaluated risk sources are health issues (human risks and production risks (weather factors, as well as diseases and pests. As the most important risk management strategies in vineyard production, the winegrowers emphasized: ownership of land and objects, intuition and personal assessment and additionally the various methods of price risk management (marketing and sales policy. Crop insurance is perceived as a relatively important strategy. The main reasons why winegrowers use crop insurance are: regional exposure to extreme climate risks, as well as the unavailability of other management instruments for risk management. In order to improve the quality of insurance services it would be necessary to focus efforts and activities on promoting and developing a better system for agricultural insurance. That would consequently allow enrichment of insurance risk sources palette, but also could have effect on decrease of insurance premiums. Furthermore, in order to become competitive in both, domestic and EU market, there should be developed training programs in the area of risk management. That could have impact on reducing risk aversion in the business activities!

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

Improving the active involvement of stakeholders and the public in flood risk management – tools of an involvement strategy and case study results from Austria, Germany and Italy

Directory of Open Access Journals (Sweden)

V. Vitale

2012-09-01

Full Text Available The EU Flood Risk Management Directive 2007/60/EC aims at an active involvement of interested parties in the setting up of flood risk management plans and thus calls for more governance-related decision-making. This requirement has two perspectives. On the one hand, there is (1 the question of how decision-makers can improve the quality of their governance process. On the other hand, there is (2 the question of how the public shall be appropriately informed and involved. These questions were the centre of the ERA-Net CRUE-funded project IMRA (integrative flood risk governance approach for improvement of risk awareness that aimed at an optimisation of the flood risk management process by increasing procedural efficiency with an explicit involvement strategy. To reach this goal, the IMRA project partners developed two new approaches that were implemented in three case study areas for the first time in flood risk management: 1. risk governance assessment tool: An indicator-based benchmarking and monitoring tool was used to evaluate the performance of a flood risk management system in regard to ideal risk governance principles; 2. social milieu approach: The concept of social milieus was used to gain a picture of the people living in the case study regions to learn more about their lifestyles, attitudes and values and to use this knowledge to plan custom-made information and participation activities for the broad public. This paper presents basic elements and the application of two innovative approaches as a part of an "involvement strategy" that aims at the active involvement of all interested parties (stakeholders for assessing, reviewing and updating flood risk management plans, as formulated in the EU Flood Risk Management Directive 2007/60/EC.

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.

Information Risk Management and Resilience

Science.gov (United States)

Dynes, Scott

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

Continuous Risk Management at NASA

Science.gov (United States)

Hammer, Theodore F.; Rosenberg, Linda

1999-01-01

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

A Coordination of Risk Management for Supply Chains Organized as Virtual Enterprises

OpenAIRE

Huang, Min; Wang, Xingwei; Lu, Fu-Qiang; Bi, Hua-Ling

2013-01-01

As a new management mode, great attention has been paid to virtual enterprise (VE). While there is much research material on risk management of VE, a relationship perspective on owner and partner performance assessment and management can bring an added dimension. The coordination of risk management in fashion and textiles (FTs) supply chain organized as a VE is studied in this paper. The aim of this study is to find proper decision mechanisms that can improve the overall performance of risk m...

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

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.

Application of Risk Management for Control and Monitoring Systems

CERN Document Server

Grau, S; Balda, F; Chouvelon, A

2001-01-01

This paper presents an application of the state of the art and new trends for risk management of safety-related control and monitoring systems, currently applied in the industry. These techniques not only enable to manage safety and reliability issues but they also help in the control of quality and economic factors affected by the availability and maintenance of the system. The method includes an unambiguous definition of the system in terms of functions and a systematic analysis of hazardous situations, undesired events and possible malfunctions. It also includes the identification and quantification of the risk associated to the system. The required risk reduction is specified in terms of safety integrity levels. The safety integrity level results in requirements, preventive measures, possible improvements and recommendations to assure the satisfactory management of the risk.

A Risk Management Architecture for Emergency Integrated Aircraft Control

Science.gov (United States)

McGlynn, Gregory E.; Litt, Jonathan S.; Lemon, Kimberly A.; Csank, Jeffrey T.

2011-01-01

Enhanced engine operation--operation that is beyond normal limits--has the potential to improve the adaptability and safety of aircraft in emergency situations. Intelligent use of enhanced engine operation to improve the handling qualities of the aircraft requires sophisticated risk estimation techniques and a risk management system that spans the flight and propulsion controllers. In this paper, an architecture that weighs the risks of the emergency and of possible engine performance enhancements to reduce overall risk to the aircraft is described. Two examples of emergency situations are presented to demonstrate the interaction between the flight and propulsion controllers to facilitate the enhanced operation.

Integrated frameworks for assessing and managing health risks in the context of managed aquifer recharge with river water.

Science.gov (United States)

Assmuth, Timo; Simola, Antti; Pitkänen, Tarja; Lyytimäki, Jari; Huttula, Timo

2016-01-01

Integrated assessment and management of water resources for the supply of potable water is increasingly important in light of projected water scarcity in many parts of the world. This article develops frameworks for regional-level waterborne human health risk assessment of chemical and microbiological contamination to aid water management, incorporating economic aspects of health risks. Managed aquifer recharge with surface water from a river in Southern Finland is used as an illustrative case. With a starting point in watershed governance, stakeholder concerns, and value-at-risk concepts, we merge common methods for integrative health risk analysis of contaminants to describe risks and impacts dynamically and broadly. This involves structuring analyses along the risk chain: sources-releases-environmental transport and fate-exposures-health effects-socio-economic impacts-management responses. Risks attributed to contaminants are embedded in other risks, such as contaminants from other sources, and related to benefits from improved water quality. A set of models along this risk chain in the case is presented. Fundamental issues in the assessment are identified, including 1) framing of risks, scenarios, and choices; 2) interaction of models and empirical information; 3) time dimension; 4) distributions of risks and benefits; and 5) uncertainties about risks and controls. We find that all these combine objective and subjective aspects, and involve value judgments and policy choices. We conclude with proposals for overcoming conceptual and functional divides and lock-ins to improve modeling, assessment, and management of complex water supply schemes, especially by reflective solution-oriented interdisciplinary and multi-actor deliberation. © 2015 SETAC.

Deviation Management: Key Management Subsystem Driver of Knowledge-Based Continuous Improvement in the Henry Ford Production System.

Science.gov (United States)

Zarbo, Richard J; Copeland, Jacqueline R; Varney, Ruan C

2017-10-01

To develop a business subsystem fulfilling International Organization for Standardization 15189 nonconformance management regulatory standard, facilitating employee engagement in problem identification and resolution to effect quality improvement and risk mitigation. From 2012 to 2016, the integrated laboratories of the Henry Ford Health System used a quality technical team to develop and improve a management subsystem designed to identify, track, trend, and summarize nonconformances based on frequency, risk, and root cause for elimination at the level of the work. Programmatic improvements and training resulted in markedly increased documentation culminating in 71,641 deviations in 2016 classified by a taxonomy of 281 defect types into preanalytic (74.8%), analytic (23.6%), and postanalytic (1.6%) testing phases. The top 10 deviations accounted for 55,843 (78%) of the total. Deviation management is a key subsystem of managers' standard work whereby knowledge of nonconformities assists in directing corrective actions and continuous improvements that promote consistent execution and higher levels of performance. © American Society for Clinical Pathology, 2017. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com

Investigating the connections between health lean management and clinical risk management.

Science.gov (United States)

Crema, Maria; Verbano, Chiara

2015-01-01

The purpose of this paper is to investigate connections and overlaps between health lean management (HLM) and clinical risk management (CRM) understanding whether and how these two approaches can be combined together to pursue efficiency and patient safety improvements simultaneously. A systematic literature review has been carried out. Searching in academic databases, papers that focus not only on HLM, but also on clinical errors and risk reduction, were included. The general characteristics of the selected papers were analysed and a content analysis was conducted. In most of the papers, pursing objectives of HLM and CRM and adopting tools and practices of both approaches, results of quality and, particularly, of safety improvements were obtained. A two-way arrow between HLM and CRM emerged but so far, none of the studies has been focused on the relationship between HLM and CRM. Results highlight an emerging research stream, with many useful theoretical and practical implications and opportunities for further research.

A Coordination of Risk Management for Supply Chains Organized as Virtual Enterprises

Directory of Open Access Journals (Sweden)

Min Huang

2013-01-01

Full Text Available As a new management mode, great attention has been paid to virtual enterprise (VE. While there is much research material on risk management of VE, a relationship perspective on owner and partner performance assessment and management can bring an added dimension. The coordination of risk management in fashion and textiles (FTs supply chain organized as a VE is studied in this paper. The aim of this study is to find proper decision mechanisms that can improve the overall performance of risk management for the whole VE as well as each member. For the risk management problem in VE, a centralized mechanism is given as the base case, and then a distributed decision-making (DDM mechanism with incentive scheme is introduced to establish a practicable strategic partnership. Under the DDM mechanism, a relationship performance definition that incorporates the financial dimension is investigated. For the two resulting optimization problems, a particle swarm optimization (PSO algorithm is designed. In the numerical examples, the study shows that the DDM mechanism with incentive scheme can improve the overall benefit of risk management beyond the centralized one. Additionally, sensitivity analysis is conducted with respect to the bonus parameter, and suggestions are made for further research.

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

Risk management for companies focused on innovation processes

Directory of Open Access Journals (Sweden)

Ana Paula Beck da Silva Etges

Full Text Available Abstract Risk is inherent to the activities of technology and innovation companies and to manage them represent an opportunity to improve the company capability to achieve its goals. The use of ERM models has been studied since the Committee of Sponsoring Organizations of the Treadway Commission guides. This article adapted the MIGGRI model for the context of an innovation company from a TSP in Brazil. Using a case study and a review from previous ERM literature, the article show that is possible to measure the risks that an innovation company faces, and that they may be managed with a view to supporting a company’s strategy. Were applied an economic analysis based on a MCS and an indicator of CFaR were applied to measure innovation risks. A strategic performance model for innovation companies are proposed and the benefit to implement Risk Management practices in innovation organizations was validated.

Risk and/or resilience management

Directory of Open Access Journals (Sweden)

Jean-Paul Louisot

2015-06-01

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

Market analysis and risk management of EU emissions trading

International Nuclear Information System (INIS)

Ollikainen, M.; Ollikka, K.; Aatola, P.; Ahonen, H.M.; Pohjola, T.; Kumpulainen, A.; Lappalainen, E.

2006-01-01

The first EU emissions trading period commenced on 1 January 2005. It implies new challenges to companies included in the scheme. A central challenge is the uncertainty related to the markets. In order to manage risks and profitability companies need to be able to estimate future price developments of emission allowances. University of Helsinki is conducting a research project in cooperation with Helsinki University of Technology that will provide necessary information for analyzing emission allowance markets and create risk management competence. The objectives of the research project are 1) to develop a price estimation model for EU emission allowances and 2) to develop risk management competence related to EU emission allowances. With the price estimation model the short-term price developments of EU emission allowances can be estimated. By utilizing the model companies can reduce uncertainties related to the markets. The project will also deliver a general risk management model for emission allowances that aims at improving competitiveness of companies. (orig.)

Integrated risk management in South Africa: between technological features and organisational reality

CSIR Research Space (South Africa)

Simonis, I

2009-01-01

Full Text Available cost interoperable information and communication technology (ICT) solutions to effectively mitigate disaster risk by addressing all phases of disaster risk management from risk assessment to recovery; paving the way to improved risk governance...

Pain management and opioid risk mitigation in the military.

Science.gov (United States)

Sharpe Potter, Jennifer; Bebarta, Vikhyat S; Marino, Elise N; Ramos, Rosemarie G; Turner, Barbara J

2014-05-01

Opioid analgesics misuse is a significant military health concern recognized as a priority issue by military leadership. Opioids are among those most commonly prescribed medications in the military for pain management. The military has implemented opioid risk mitigation strategies, including the Sole Provider Program and the Controlled Drug Management Analysis and Reporting Tool, which are used to identify and monitor for risk and misuse. However, there are substantial opportunities to build on these existing systems to better ensure safer opioid prescribing and monitor for misuse. Opioid risk mitigation strategies implemented by the civilian sector include establishing clinical guidelines for opioid prescribing and prescription monitoring programs. These strategies may help to inform opioid risk mitigation in the military health system. Reducing the risk of opioid misuse and improving quality of care for our Warfighters is necessary. This must be done through evidence-based approaches with an investment in research to improve patient care and prevent opioid misuse as well as its sequelae. Reprint & Copyright © 2014 Association of Military Surgeons of the U.S.

Contribution of the french society of radiological protection to the current reflections on the possible improvement of the radiological risk management system

International Nuclear Information System (INIS)

Lecomte, J.F.; Schieber, C.

2000-01-01

Following the invitation by IRPA to comment the article by Prof. R. Clarke entitled 'Control of Low Level Radiation Exposures: Time for a Change?', the Board of the French Radiological Protection Society (SFRP) has decided to set up a specific Working Group. This Group consists of some twenty members representing the stakeholders involved in radiological protection in France. Its goal is, starting from an analysis of R. Clarke's text, to formulate questions and proposals to assist ICRP in making its radiological protection system more understandable and more efficient. The aim of this review is not to restart from scratch but to consolidate and improve the existing system. The Working Group has therefore focused its thoughts on the following four points: 1. The basis of the radiological risk management system. In the absence of scientific certainty as to the effects of low doses of radiation, a prudent attitude has been adopted as to the manner of managing the radiological risk, based on the hypothesis that the dose-effect relationship is linear with no threshold. The Group discusses this basic assumption and its implications on the elaboration of the objectives of the radiological risk management system. 2. Exposure situations. Exposure situations are multifarious and the existing system divides them into categories for management purpose (e.g. practice/intervention; natural/artificial; medical/public/occupational; actual exposure/potential exposure; etc.). Some of these divisions are pertinent but some are less so and the Group examines if another way of conceptualising exposures situations could be more efficient. 3. Risk management indicators and tools. The radiological protection system provides the professionals with a series of indicators and tools, enabling them to manage exposure situations (dose, dose limit, dose constraint, individual dose, collective dose, investigation level, action level, interventional level, exemption level, clearance level

Improving flood risk mapping in Italy: the FloodRisk open-source software

Science.gov (United States)

Albano, Raffaele; Mancusi, Leonardo; Craciun, Iulia; Sole, Aurelia; Ozunu, Alexandru

2017-04-01

management process, enhancing their awareness. This FOSS approach can promotes transparency and accountability through a process of "guided discovery". Moreover, the immediacy with which information is presented by the qualitative flood risk map, can facilitate and speed up the process of knowledge acquisition. An application of FloodRisk model is showed on a pilot case in "Serio" Valley, (North Italy), and its strengths and limits, in terms of additional efforts required in its application compared with EDQ procedure, have been highlighted focusing on the utility of the results provided for the development of FRMPs. Although they still present limits which prevent the FloodRisk application without critically consider the peculiarities of the investigated area in terms of available knowledge on hazard, exposure and vulnerability, the proposed approach surely produces an increase in available knowledge of flood risk and its drivers. This further information cannot be neglected for defining risk mitigation objectives and strategies. Hence, considering the ongoing efforts in the improvement of data availability and quality, FloodRisk could be a suitable tool for the next revision of flood risk maps due by December 2019, supporting effectively Italian and EU practitioners in the delineation of FRMPs (and for flood risk management in general).

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...

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.

Enterprise risk management: Factors associated with effective implementation

Directory of Open Access Journals (Sweden)

Godson K. Mensah

2016-11-01

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

A multidisciplinary approach to therapeutic risk management of the suicidal patient

Directory of Open Access Journals (Sweden)

Grant CL

2015-06-01

Full Text Available Cynthia L Grant,1,2 Jaimie L Lusk3 1Arapahoe/Douglas Mental Health Network, Englewood, CO, 2School of Education and Human Development, University of Colorado Denver, Denver, CO, 3Mental Health Service, VA Portland Health Care System, Portland, OR, USA Abstract: As health care trends toward a system of care approach, providers from various disciplines strive to collaborate to provide optimal care for their patients. While a multidisciplinary approach to suicide risk assessment and management has been identified as important for reducing suicidality, standardized clinical guidelines for such an approach do not yet exist. In this article, the authors propose the adoption of the therapeutic risk management of the suicidal patient (TRMSP to improve suicide risk assessment and management within multidisciplinary systems of care. The TRMSP, which has been fully articulated in previous articles, involves augmenting clinical risk assessment with structured instruments, stratifying risk in terms of both severity and temporality, and developing and documenting a safety plan. Augmenting clinical risk assessments with reliable and valid structured instruments serves several functions, including ensuring important aspects of suicide are addressed, establishing a baseline for suicidal thoughts and behaviors, facilitating interprofessional communication, and mitigating risk. Similarly, a two-dimensional risk stratification qualifying suicide risk in terms of both severity and temporality can enhance communication across providers and settings and improve understanding of acute crises in the context of chronic risk. Finally, safety planning interventions allow providers and patients to collaboratively create a personally meaningful plan for managing a suicidal crisis that can be continually modified across time with multiple providers in different care settings. In a busy care environment, the TRMSP can provide concrete guidance on conducting clinically and

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

Managing the changing risk of fire in the South African landscape

CSIR Research Space (South Africa)

Van Wilgen, BW

2008-11-01

Full Text Available and to develop early-warning syatem that will help to reduce or manage these risks. It also aims to quantify probabilities and consequences to help improve fire management approaches....

Danish risk management plans of the EU Floods Directive

Directory of Open Access Journals (Sweden)

Jebens Martin

2016-01-01

Full Text Available We evaluate the impact and effect of the EU Flood’s Directive (2007/60/EC in Denmark and the flood risk management plans that are the result of the national implementation. In a qualitative research approach, the flood risk management plans published by 22 Danish municipalities are reviewed and analyzed regarding main objectives and structural and non-structural mitigation measures. From the analyses conclusions are drawn on the non-structural risk management measures still to be improved to obtain the full benefits from the Directive. Conclusions point to the need of introducing better decision support systems, a need to define acceptable risks, and a need to enhance coordi-nation between municipal and cross-sectorial actors as well as an increased effort to involve civil society is necessary. In general, the implementation of the Directive has significantly advanced the national scientific and cross-sectorial working platform for dealing with risks from floods.

Making decentralised systems viable: a guide to managing decentralised assets and risks.

Science.gov (United States)

Willetts, J; Fane, S; Mitchell, C

2007-01-01

Decentralised systems have the potential to provide a viable option for long term sustainable management of household wastewater. Yet, at present, such systems hold an uncertain status and are frequently omitted from consideration. Their potential can only be realised with improved approaches to their management, and improved methods to decision-making in planning of wastewater systems. The aim of this paper is to demonstrate the value of a novel framework to guide the planning of decentralised systems so that asset management and risk management are explicitly considered. The framework was developed through a detailed synthesis of literature and practice in the area of asset management of centralised water and wastewater systems, and risk management in the context of decentralised systems. Key aspects of the framework are attention to socio-economic risks as well as engineering, public health and ecological risks, the central place of communication with multiple stakeholders and establishing a shared asset information system. A case study is used to demonstrate how the framework can guide a different approach and lead to different, more sustainable outcomes, by explicitly considering the needs and perspectives of homeowners, water authorities, relevant government agencies and society as a whole.

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

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...

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...

Value of risk management

OpenAIRE

Vik, Marie Amdal

2012-01-01

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

Supply Cain Risk Management

OpenAIRE

Goodwin, Les

2011-01-01

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

Credit risk management in banks

OpenAIRE

Pětníková, Tereza

2014-01-01

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

Management of business risks

OpenAIRE

BAZARBAY A.

2015-01-01

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

The Uncertainties of Risk Management

DEFF Research Database (Denmark)

Vinnari, Eija; Skærbæk, Peter

2014-01-01

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

Risk management and corporate value

Directory of Open Access Journals (Sweden)

Milan Cupic

2015-12-01

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

CEA: risk management assessment 2011

International Nuclear Information System (INIS)

Bigot, Bernard; Bonnevie, Edwige; Maillot, Bernard

2012-01-01

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

[Clinical risk management in german hospitals - does size really matter?].

Science.gov (United States)

Bohnet-Joschko, S; Jandeck, L M; Zippel, C; Andersen, M; Krummenauer, F

2011-06-01

management, 92 % of the hospitals see potential for internal improvement; 44 % have already communicated with external consultants. While identification of clinical risks with near miss and other incident reporting systems meets increasing acceptance, the learning potential based on incident reporting is not yet appropriately being used. There is a deficit regarding systematic and comprehensive risk assessment and controlling; this will have to be met by improving the organisational framework for clinical risk management. © Georg Thieme Verlag KG Stuttgart · New York.

Assessing and managing multiple risks in a changing world-The Roskilde recommendations.

Science.gov (United States)

Selck, Henriette; Adamsen, Peter B; Backhaus, Thomas; Banta, Gary T; Bruce, Peter K H; Burton, G Allen; Butts, Michael B; Boegh, Eva; Clague, John J; Dinh, Khuong V; Doorn, Neelke; Gunnarsson, Jonas S; Hauggaard-Nielsen, Henrik; Hazlerigg, Charles; Hunka, Agnieszka D; Jensen, John; Lin, Yan; Loureiro, Susana; Miraglia, Simona; Munns, Wayne R; Nadim, Farrokh; Palmqvist, Annemette; Rämö, Robert A; Seaby, Lauren P; Syberg, Kristian; Tangaa, Stine R; Thit, Amalie; Windfeld, Ronja; Zalewski, Maciej; Chapman, Peter M

2017-01-01

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 context for assessments in human-modified systems; 8) assess risks and benefits to humans and the ecosystem and consider unintended consequences of management actions; 9) avoid excessive conservatism or possible underprotection resulting from sole reliance on binary, numerical benchmarks; and 10) develop adaptive risk-management and regulatory goals based on ranges of uncertainty. Environ Toxicol Chem 2017;36:7-16. © 2016 SETAC. © 2016 SETAC.

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

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

Risk Management in Banking:The Tendency of Risk Management Development and Changes in Financial Crisis.

OpenAIRE

Zhang, Lan

2011-01-01

As the market instability and uncertainty that economic and business environment become more complex than any time before. In real condition, there are significant financial volatility and distress that exist in financial institutions, particularly in those with large debt and commodity price exposures. Therefore risk management in recent decade has been largely required and improved to financial sectors. In this paper, we conduct content analysis through annual reports of four leading banks ...

Failure mode and effect analysis: improving intensive care unit risk management processes.

Science.gov (United States)

Askari, Roohollah; Shafii, Milad; Rafiei, Sima; Abolhassani, Mohammad Sadegh; Salarikhah, Elaheh

2017-04-18

Purpose Failure modes and effects analysis (FMEA) is a practical tool to evaluate risks, discover failures in a proactive manner and propose corrective actions to reduce or eliminate potential risks. The purpose of this paper is to apply FMEA technique to examine the hazards associated with the process of service delivery in intensive care unit (ICU) of a tertiary hospital in Yazd, Iran. Design/methodology/approach This was a before-after study conducted between March 2013 and December 2014. By forming a FMEA team, all potential hazards associated with ICU services - their frequency and severity - were identified. Then risk priority number was calculated for each activity as an indicator representing high priority areas that need special attention and resource allocation. Findings Eight failure modes with highest priority scores including endotracheal tube defect, wrong placement of endotracheal tube, EVD interface, aspiration failure during suctioning, chest tube failure, tissue injury and deep vein thrombosis were selected for improvement. Findings affirmed that improvement strategies were generally satisfying and significantly decreased total failures. Practical implications Application of FMEA in ICUs proved to be effective in proactively decreasing the risk of failures and corrected the control measures up to acceptable levels in all eight areas of function. Originality/value Using a prospective risk assessment approach, such as FMEA, could be beneficial in dealing with potential failures through proposing preventive actions in a proactive manner. The method could be used as a tool for healthcare continuous quality improvement so that the method identifies both systemic and human errors, and offers practical advice to deal effectively with them.

Inadequate stakeholder management and its effect on a coherent sinkhole risk management strategy: The case of the Merafong Local Municipality, South Africa

Directory of Open Access Journals (Sweden)

Tshepo Moshodi

2016-09-01

Full Text Available The Merafong Local Municipality (MLM has historically suffered financial and human losses because of the presence of dolomite and the consequent formation of sinkholes. There is a great need for the MLM to address the risk posed by sinkholes to ensure the continued safety of communities. However, as the risk is so pervasive, the MLM needs to coordinate their risk reduction strategies with a wide array of stakeholders in the municipality. Efficient stakeholder management is thus crucial if the sinkhole risk is to be addressed appropriately. This article reviews the current status of stakeholder management in the MLM as it pertains to the formulation of a holistic sinkhole risk reduction strategy. Findings indicate that there are serious deficiencies in the MLM’s stakeholder management relating to key risk management processes such as community involvement in risk management structures, disaster risk assessment, training and awareness, and early warning and response. Improved stakeholder management could be characterised by the following factors: improved two-way communication between the municipality and community stakeholders, fostering a relationship based upon trust and equality amongst stakeholders, participation by a wide array of stakeholder groups affected by the sinkhole risk and a mutual commitment by all stakeholders to address the risk. These factors could contribute to enhancing current and future sinkhole risk reduction strategies.

Challenges of torrential flood risk management in Serbia

Directory of Open Access Journals (Sweden)

Petrović Ana M.

2015-01-01

Full Text Available Torrential floods are the natural hydrological hazards manifesting as a consequence of extreme rainfall episodes which have a quick response from the watersheds of small areas, steep slopes and intensive soil erosion. Taking in consideration the nature of torrential flood (sudden and destructive occurrence and the fact they are the most frequent natural hazards in Serbia, torrential flood risk management is a real challenge. Instead of partial solutions for flood protection, integrated torrential flood risk management is more meaningful and effective. The key steps should be an improvement of the legal framework on national level and an expansion of technical and biological torrent control works in river basins. Consequences for society can be significantly reduced if there is an efficient forecast and timely warning, rescue and evacuation and if affected population is educated about flood risks and measures which can be undertaken in case of emergency situation. In this paper, all aspects of torrential flood risk management are analyzed. [Projekat Ministarstva nauke Republike Srbije, br. 47007 III

Role of NDT in risk management

International Nuclear Information System (INIS)

Porter, Jr. James F.

2009-01-01

Risk management is identifying and then managing threats that could severely affect or bring down a company. This involves reviewing the operations of the company to include the process, equipment, procedures and personnel. Potential threats are then identified including their probability of occurrence, and then taking appropriate actions to address the most likely threats. Traditionally, risk management was thought of as mostly getting the right insurance. However, this impression of risk management has changed dramatically. With the recent increase in rules and regulations and optimizing utilization of key resources, risk management is becoming a management practice that is as important as financial or facilities management. In ideal risk management, a prioritization process is followed whereby the risks with the greatest loss and greatest probability of occurring are handled first, and risks with lower probability of occurrence and lower loss are handled in descending order. In practice the process can be very difficult, and balancing between risks with a high probability of occurrence but lower loss versus a risk with high but lower probability of occurrence can often be mishandled. (author)

Cattle farmers’ perceptions of risk and risk management strategies

DEFF Research Database (Denmark)

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

2018-01-01

This study analyzes cattle farmers’ perceptions of risk and risk management strategies in Tigray, Northern Ethiopia. We use survey data from a sample of 356 farmers based on multistage random sampling. Factor analysis is employed to classify scores of risk and management strategies, and multiple...... utilization were perceived as the most important strategies for managing risks. Livestock disease and labor shortage were perceived as less of a risk by farmers who adopted the practice of zero grazing compared to other farmers, pointing to the potential of this practice for risk reduction. We find strong...... evidence that farmers engage in multiple risk management practices in order to reduce losses from cattle morbidity and mortality. The results suggest that government strategies that aim at reducing farmers’ risk need to be tailored to specific farm and farmer characteristics. Findings from this study have...

[GMOs in food: risk assessment, scientific management and regulatory aspects].

Science.gov (United States)

Casse, F; Hervieu, F

2003-03-01

Genetic transformation constitutes a new tool for improvement of microorganisms, animals and plants used in food. We present foreseeable risks, as well as management measures to avoid unsuspected risks of GMOs. Few risks are specific to GMOs. Present elements of French and European regulations concerning placing on the market and follow up GMOs and other novel foods are described.

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.

[Medical safety management in the setting of a clinical reference laboratory--risk management efforts in clinical testing].

Science.gov (United States)

Seki, Akira; Miya, Tetsumasa

2011-03-01

As a result of recurring medical accidents, risk management in the medical setting has been given much attention. The announcement in August, 2000 by the Ministry of Health committee for formulating a standard manual for risk management, of a "Risk management manual formulation guideline" has since been accompanied by the efforts of numerous medical testing facilities to develop such documents. In 2008, ISO/TS 22367:2008 on "Medical laboratories-Reduction of error through risk management and continual improvement" was published. However, at present, risk management within a medical testing facility stresses the implementation of provisional actions in response to a problem after it has occurred. Risk management is basically a planned process and includes "corrective actions" as well as "preventive actions." A corrective action is defined as identifying the root cause of the problem and removing it, and is conducted to prevent the problem from recurring. A preventive action is defined as identifying of the any potential problem and removing it, and is conducted to prevent a problem before it occurs. Presently, I shall report on the experiences of our laboratory regarding corrective and preventive actions taken in response to accidents and incidents, respectively.

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

Controlling Legal Risk for Effective Hospital Management

Directory of Open Access Journals (Sweden)

Hyun Jun Park

2016-04-01

Full Text Available Purpose: To analyze the types of medical malpractice, medical errors, and medical disputes in a university hospital for the proposal of countermeasures that maximize the efficiency of hospital management, medical departments, and healthcare providers. Materials and Methods: This study retrospectively reviewed and analyzed 55 closed civil lawsuits among 64 medical lawsuit cases carried out in Pusan National University Hospital from January 2000 to April 2013 using medical records, petitions, briefs, and data from the Medical Dispute Mediation Committee. Results: Of 55 civil lawsuits, men were the main plaintiffs in 31 cases (56.4%. The average period from medical malpractice to malpractice proceeding was 16.5 months (range, 1 month to 6.4 years, and the average period from malpractice proceeding to the disposition of a lawsuit was 21.7 months (range, 1 month to 4 years and 11 months. Conclusions: Hospitals can effectively manage their legal risks by implementing a systematic medical system, eliminating risk factors in administrative service, educating all hospital employees on preventative strategies, and improving customer service. Furthermore, efforts should be made to establish standard coping strategies to manage medical disputes and malpractice lawsuits, operate alternative dispute resolution methods including the Medical Dispute Mediation Committee, create a compliance support center, deploy a specialized workforce including improved legal services for employees, and specialize the management-level tasks of the hospital.

Adapting risk management and computational intelligence network optimization techniques to improve traffic throughput and tail risk analysis.

Science.gov (United States)

2014-04-01

Risk management techniques are used to analyze fluctuations in uncontrollable variables and keep those fluctuations from impeding : the core function of a system or business. Examples of this are making sure that volatility in copper and aluminum pri...

European Community research on improving the governance of nuclear waste management and other risks

International Nuclear Information System (INIS)

Forsstroem, H.; Kelly, N.

2002-01-01

Increasing attention is being given to broader socio-economic issues (eg, science and society, governance of risk, etc) within the European Commission's research programmes. This reflects the recognition of the importance of such issues for science policy and decision making with respect to nuclear and other technologies. This paper summarises those projects, supported by the Commission's Euratom research programme, which focus on socio-economic as opposed to narrower technical issues. These projects are concerned with risk governance in general, the governance of nuclear waste management and stakeholder involvement in the off-site management of accidents. (author)

The NASA risk management program

International Nuclear Information System (INIS)

Buchbinder, B.; Philipson, L.L.

1989-01-01

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

Risk Management in Mergers and Acquisitions

Directory of Open Access Journals (Sweden)

Dmitry O. Verdiev

2015-01-01

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

Risk Management in Cocurricular Activities.

Science.gov (United States)

Webb, Edward M.

1988-01-01

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

Risk Management in Future Romanian E-Government 2.0 Projects

Directory of Open Access Journals (Sweden)

Didraga Otniel

2015-08-01

Full Text Available E-government public services in Romania must follow unitary procedures considering the new requirements of the European Union from the Digital Agenda for Europe Strategy 2020. E-government 2.0 has to be implemented because of the cultural and behavioral transformations in the interaction between governments and users of e-services. E-government 2.0 projects use tools and techniques of social media to accomplish their goals. This article examines the possible risk categories and the risk management procedures needed to mitigate risks in future Romanian e-government projects, according to the strategic lines of development for the Digital Agenda. We propose a risk management plan for the e-government lines of action within the strategic lines of development that includes identifying, assessing, and mitigating the risks. New and modernized government services through e-government 2.0 projects that apply risk management will bring a significant improvement in how citizens and businesses relate to government and will increase the use of e-government services.

Oil and gas site contamination risks : improved oversight needed

International Nuclear Information System (INIS)

2010-02-01

British Columbia has seen record levels of activities in the oil and gas sector. Upstream petroleum processes include exploration, well completion and production. Site contamination can occur during all of these activities, resulting in potential environmental and human health impacts. Although well operators are responsible by law for site restoration, there is a potential risk that some operators will not fulfill their responsibilities, thereby leaving the province liable for the site restoration costs. In British Columbia, the BC Oil and Gas Commission (OGC) is responsible for managing these risks through oversight activities designed to ensure that industry meets its obligations. The OGC also manages the orphan sites reclamation fund. This report presented an audit of the OGC in order to determine if it is providing adequate oversight of upstream oil and gas site contamination risks. The audit examined whether the agency responsibilities are clear and whether the OGC is fully aware of the environmental and financial risks associated with upstream oil and gas site contamination. The audit also examined if the OGC has established appropriate procedures to oversee the risks and to inform the public of how effectively site contamination risks are being managed. The report presented the audit background, audit expectations, findings, conclusions and recommendations. It was concluded that the OGC's oversight of the environmental and financial risks associated with oil and gas site contamination needs improving. tabs., figs.

RISK MANAGEMENT FROM THE INFORMATION SECURITY PERSPECTIVE

Directory of Open Access Journals (Sweden)

Riza Ionuț

2017-11-01

Full Text Available Risk management has emerged ever since the appearance of human communities and it has developed at a slow rate. Over time, a significant improvement was made, from accepting hazards to the identification, evaluation and control of unwanted events, threat prevention and exploitation of opportunities through scientific risk management actions. The fundamental role of research in cyber security is to concentrate the efforts on those contexts and conditions which determine the way in which key players reach a common understanding of the way to conceive and eventually answer to certain challenges in cyber security. In order to build a clear perception of these effects, this work presents the main elements which define cyber space, to come to the aid of turning the management process into an efficient one, especially when talking about cyber space as a space for conflicts, both economic and political.

Improving Smallholder Farmer Biosecurity in the Mekong Region Through Change Management.

Science.gov (United States)

Young, J R; Evans-Kocinski, S; Bush, R D; Windsor, P A

2015-10-01

Transboundary animal diseases including foot-and-mouth disease and haemorrhagic septicaemia remain a major constraint for improving smallholder large ruminant productivity in the Mekong region, producing negative impacts on rural livelihoods and compromising efforts to reduce poverty and food insecurity. The traditional husbandry practices of smallholders largely exclude preventive health measures, increasing risks of disease transmission. Although significant efforts have been made to understand the social aspects of change development in agricultural production, attention to improving the adoption of biosecurity has been limited. This study reviews smallholder biosecurity risk factors identified in the peer-reviewed literature and from field research observations conducted in Cambodia and Laos during 2006-2013, considering these in the context of a change management perspective aimed at improving adoption of biosecurity measures. Motivation for change, resistance to change, knowledge management, cultural dimensions, systems theory and leadership are discussed. Due to geographical, physical and resource variability, the implementation of biosecurity interventions suitable for smallholders is not a 'one size fits all'. Smallholders should be educated in biosecurity principles and empowered to make personal decisions rather than adopt prescribed pre-defined interventions. Biosecurity interventions should be aligned with smallholder farmer motivations, preferably offering clear short-term risk management benefits that elicit interest from smallholders. Linking biosecurity and disease control with improved livestock productivity provides opportunities for sustainable improvements in livelihoods. Participatory research and extension that improves farmer knowledge and practices offers a pathway to elicit sustainable broad-scale social change. However, examples of successes need to be communicated both at the 'evidence-based level' to influence regional policy

Menopause management: a cardiovascular risk-based approach.

Science.gov (United States)

Haines, C J; Farrell, E

2010-08-01

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

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.

A new perspective on Renn and Klinke's approach to risk evaluation and management

International Nuclear Information System (INIS)

Kristensen, V.; Aven, T.; Ford, D.

2006-01-01

In this paper we discuss Renn and Klinke's approach for risk evaluation and selection of risk management strategies. The main focus in the discussion is the foundational basis and the understanding of what risk is, and how a different foundational basis may simplify and improve the characterization of risk. We will present and discuss an alternative set of characteristics, and give some recommendations with respect to selection of risk management strategies based on different values or magnitudes of these characteristics. We believe that the main focus when describing and managing risk should be the potential consequences, represented by observable quantities, and the uncertainty related to their future values

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...

[Guidance of FDA risk evaluation and mitigation strategy and enlightenment to drug risk management of post-marketing Chinese medicine].

Science.gov (United States)

Li, Yuanyuan; Xie, Yanming

2011-10-01

The FDA risk evaluation and mitigation strategy (REMS) aims to drugs or biological products known or potential serious risk management. Analysis with the example of the content of the Onsolis REMS named FOCOS. Our country can be reference for the analysis of relevant experience and establish a scientific evaluation mechanism, strengthen the drug risk consciousness, promote the rational drug use, organic combined with the before-marketing and post-marketing evaluation of traditional Chinese medicine, and promote the evaluation of risk management of the drug development and improvement.

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...

Develop risk-based procurement management tools for SMEs

NARCIS (Netherlands)

Staal, Anne; Hagelaar, Geoffrey; Walhof, Gert; Holman, Richard

2016-01-01

This paper provides guidance for developing risk-based management tools to improve the procurement (purchasing) performance of SMEs. Extant academic literature only offers little support on developing such tools and does not consider the wide variety of SMEs. The paper defines a procurement tool for

Toxicant emissions from hazardous wastes in landfills - implications for disposal risk management decisions

International Nuclear Information System (INIS)

Assmuth, T.W.

1991-01-01

The environmental impacts and risks of hazardous wastes disposed in Finnish landfills were assessed in a 5-yr field study. By systematic analysis of the acquired information, the toxicological impacts and risks of landfills seem as a whole small when compared with those caused by other kinds of environmental toxicants. Locally more significant risks arise, and may be difficult to manage. Scientific information on risk factors and their development is as yet insufficient, and additional research and monitoring are needed. Since uncertainties will remain, the prevention and control of risks, e.g. by improved hazardous waste management and disposal, are advocated by safety principles, but are made difficult by many technical and societal factors. Control strategies and remedial actions should thus be based on more comprehensive, comparative risk assessments and improved decision methods. Ethical, political and methodological issues in the management of hazardous waste disposal are discussed, with special reference to the interaction of science with regulatory decision-making related to the risks of old chemical waste sites. (44 refs.) (au)

Coupling the Biophysical and Social Dimensions of Wildfire Risk to Improve Wildfire Mitigation Planning.

Science.gov (United States)

Ager, Alan A; Kline, Jeffrey D; Fischer, A Paige

2015-08-01

We describe recent advances in biophysical and social aspects of risk and their potential combined contribution to improve mitigation planning on fire-prone landscapes. The methods and tools provide an improved method for defining the spatial extent of wildfire risk to communities compared to current planning processes. They also propose an expanded role for social science to improve understanding of community-wide risk perceptions and to predict property owners' capacities and willingness to mitigate risk by treating hazardous fuels and reducing the susceptibility of dwellings. In particular, we identify spatial scale mismatches in wildfire mitigation planning and their potential adverse impact on risk mitigation goals. Studies in other fire-prone regions suggest that these scale mismatches are widespread and contribute to continued wildfire dwelling losses. We discuss how risk perceptions and behavior contribute to scale mismatches and how they can be minimized through integrated analyses of landscape wildfire transmission and social factors that describe the potential for collaboration among landowners and land management agencies. These concepts are then used to outline an integrated socioecological planning framework to identify optimal strategies for local community risk mitigation and improve landscape-scale prioritization of fuel management investments by government entities. © 2015 Society for Risk Analysis.

Internal risks of factoring business: identification, cause-effect relationships, accounting and management aspects

Directory of Open Access Journals (Sweden)

I.M. Vygivska

2017-12-01

Full Text Available The article identifies the risks of the economic activity of a factoring company. The identified risks are divided into internal (fraud risk, credit risk, liquidity, nonpayment, staff, supplier's failure to meet the terms of the supply / factoring contract and external (legal, inflation, currency, interest, industry risks, country risk. The cause-effect relationships of the identified risks have been established. The content of information requests of the leading part of the factoring company, as well as the management subsystems (accounting, economic analysis, control and planning, and the direction of information flows between them (to manage the company's internal risks is determined. These proposals contribute to the improvement of accounting and analytical support for risk management of the factoring business, the choice of alternative risk management methods, the impact on their possible consequences, minimizing the negative impact of risks on the financial condition of the company, and establishing the effectiveness of factoring operations under risk.

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

[New approach for managing microbial risks in food].

Science.gov (United States)

Augustin, Jean-Christophe

2015-01-01

The aim of the food legislation is to ensure the protection of human health. Traditionally, the food legislation requires food business operators to apply good hygiene practices and specific procedures to control foodborne pathogens. These regulations allowed reaching a high level of health protection. The improvement of the system will require risk-based approaches. Firstly, risk assessment should allow the identification of high-risk situations where resources should be allocated for a better targeting of risk management. Then, management measures should be adapted to the health objective. In this approach, the appropriate level of protection is converted intofood safety and performance objectives on the food chain, i.e., maximum microbial contamination to fulfil the acceptable risk level. When objectives are defined, the food business operators and competent authorities can identify control options to comply with the objectives and establish microbiological criteria to verify compliance with these objectives. This approach, described for approximately 10 years, operative thanks to the development of quantitative risk assessment techniques, is still difficult to use in practical terms since it requires a commitment of competent authorities to define the acceptable risk and needs also the implementation of sometimes complex risk models.

Enterprise risk management and disclosure

Directory of Open Access Journals (Sweden)

Nicoleta Farcane

2008-01-01

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

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

International Nuclear Information System (INIS)

Anon.

1996-01-01

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

Information security risk management and incompatible parts of organization

Energy Technology Data Exchange (ETDEWEB)

Talabeigi, E.; Naeeini, S.G.J.

2016-07-01

Purpose: we prepared a questionnaire to evaluate Incompatible parts and also risk management in University of Science and Technology E-Learning Center and studying the Incompatible parts impacts on utility of organization. Design/methodology/approach: By using coalitional game theory we present a new model to recognize the degrees of incompatibility among independent divisions of an organization with dependent security assets. Based on positive and negative interdependencies in the parts, the model provides how the organization can decrease the security risks through non-cooperation rather than cooperation. we implement the proposed model of this paper by analyzing the data which have been provided by questionnaires from different three managers' ideas of Iran University of Science and Technology E-Learning Center located in Iran University of Science and Technology, Tehran, Iran. Findings: In general, by collecting data and analyzing them, the survey showed that Incompatible parts of organizations have negative impacts on utility of organization risk management process. Furthermore, it adds values to other organizations and provides the best practices in planning, developing, implementing and monitoring risk management in organizations. Research limitations/implications: Since Information security and also Risk Management are still areas which need to improve in some Iranian universities, we couldn’t consider them in our analysis. On the other hand, due to questionnaire limitation, the study’s sample size is 1. This size may be considered large for our statistical analysis. Originality/value: The main contribution of this paper is to propose a model for non-cooperation among a number of divisions in a organization and using risk management factors.

Information security risk management and incompatible parts of organization

International Nuclear Information System (INIS)

Talabeigi, E.; Naeeini, S.G.J.

2016-01-01

Purpose: we prepared a questionnaire to evaluate Incompatible parts and also risk management in University of Science and Technology E-Learning Center and studying the Incompatible parts impacts on utility of organization. Design/methodology/approach: By using coalitional game theory we present a new model to recognize the degrees of incompatibility among independent divisions of an organization with dependent security assets. Based on positive and negative interdependencies in the parts, the model provides how the organization can decrease the security risks through non-cooperation rather than cooperation. we implement the proposed model of this paper by analyzing the data which have been provided by questionnaires from different three managers' ideas of Iran University of Science and Technology E-Learning Center located in Iran University of Science and Technology, Tehran, Iran. Findings: In general, by collecting data and analyzing them, the survey showed that Incompatible parts of organizations have negative impacts on utility of organization risk management process. Furthermore, it adds values to other organizations and provides the best practices in planning, developing, implementing and monitoring risk management in organizations. Research limitations/implications: Since Information security and also Risk Management are still areas which need to improve in some Iranian universities, we couldn’t consider them in our analysis. On the other hand, due to questionnaire limitation, the study’s sample size is 1. This size may be considered large for our statistical analysis. Originality/value: The main contribution of this paper is to propose a model for non-cooperation among a number of divisions in a organization and using risk management factors.

Managing information technology security risk

Science.gov (United States)

Gilliam, David

2003-01-01

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

The Supply Chain Risk Management

OpenAIRE

Skitsko Volodymyr I.; Voynikov Mykola Yu.

2018-01-01

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

Development of configuration risk management tool

International Nuclear Information System (INIS)

Masuda, Takahiro; Doi, Eiji

2003-01-01

Tokyo Electric Power Company (referred to as TEPCO hereinafter), and other Japanese utilities as well, have been trying to improve the capacity factor of their Nuclear Power Plants (NPPs) through modernization of Operation and Maintenance strategy. TEPCO intends to apply risk information to O and M field with maintaining or even improving both safety and production efficiency. Under these situations, TEPCO with some BWR utilities started to develop a Configuration Risk Management (CRM) tool that can estimate risk in various plant conditions due to configuration changes during outage. Moreover, we also intend to apply CRM to on-line maintenance (OLM) in the near future. This tool can calculate the Core Damage Frequency (CDF) according to given plant condition, such as SSCs availability, decay heat level and the inventory of coolant in both outage state and full-power operation. From deterministic viewpoint, whether certain configuration meet the related requirements of Technical Specifications. User-friendly interface is one of the important features of this tool because this enables the site engineers with little experience in PSA to quantify and utilize the risk information by this tool. (author)

Tank waste remediation system risk management list

International Nuclear Information System (INIS)

Collard, L.B.

1995-01-01

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

Risk management versus incentives

International Nuclear Information System (INIS)

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

2006-01-01

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

Analysis of the effect of risk management practices on the performance of new product development programs

DEFF Research Database (Denmark)

Oehmen, Josef; Olechowski, Alison; Kenley, C. Robert

2014-01-01

Risk management is receiving much attention, as it is seen as a method to improve cost, schedule, and technical performance of new product development programs. However, there is a lack of empirical research that investigates the effective integration of specific risk management practices proposed...... skills and resources; (2) Tailor risk management to and integrate it with new product development; (3) Quantify impacts of risks on your main objectives; (4) Support all critical decisions with risk management results; (5) Monitor and review your risks, risk mitigation actions, and risk management...... by various standards with new product development programs and their association with various dimensions of risk management success. Based on a survey of 291 product development programs, this paper investigates the association of risk management practices with five categories of product development program...

Performance of Generating Plant: Managing the Changes. Part 4: Markets and Risk Management Strategy

Energy Technology Data Exchange (ETDEWEB)

Moss, Terry; Loedolff, Gerhard; Griffin, Rob; Kydd, Robert; Micali, Vince [Eskom (South Africa)

2008-05-15

The WEC Committee on the Performance of Generating Plant (PGP) has been collecting and analysing power plant performance statistics worldwide for more than 30 years and has produced regular reports, which include examples of advanced techniques and methods for improving power plant performance through benchmarking. A series of reports from the various working groups was issued in 2008. This reference presents the results of Working Group 4 (WG4). WG4 will monitor the development of power markets, in particular from the market risk management point of view, including operational risks. It will assess various risk management strategies used by market players around the world and develop recommendations for a wider deployment of successful strategies. The report covers the project approach and outcomes.

75 FR 23582 - Federal Housing Administration: Continuation of FHA Reform-Strengthening Risk Management Through...

Science.gov (United States)

2010-05-04

...-AI81 Federal Housing Administration: Continuation of FHA Reform-- Strengthening Risk Management Through... Federal Housing Administration (FHA) that are designed to strengthen FHA by improving its management of risk. Although the preamble to the final rule correctly provides that the revised net worth...

Risk Management Practices by Barbadian Banks

Directory of Open Access Journals (Sweden)

Anthony Wood

2013-07-01

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

Probabilistic risk assessment as an aid to risk management

International Nuclear Information System (INIS)

Garrick, B.J.

1982-01-01

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

[Risk management of hospital infections as a supporting tool for the improvement of hospital quality - some European examples].

Science.gov (United States)

Sitek, Mateusz; Witczak, Izabela; Kiedik, Dorota

Prevention and control of nosocomial infections is one of the main pillars of security in each medical facility. This affects the quality of services and helps to minimize the economic losses incurred as a result of such infections. (Prolonged hospitalization, expensive antibiotic therapies, court costs of damages). Nosocomial infections occur in every medical facility in the hospitals in terms of risk of infection compared to other medicinal entities are at greater risk of environmental (number of hospitalizations for one bed, the amount of disinfectants, etc.). The number and diverse category of employment of medical and auxiliary, which should meet certain standards for the prevention of hospital infections, has an impact on the incidence of infection. It is impossible to eliminate hospital-acquired infections, but can be limited by appropriate measures, ranging from monitoring through the use of risk management methods, which are one of the elements supporting the improvement of the quality of medical entities. Hospital infection is a threat not only for patients but also for workers exposed to the risk of so-called occupational exposure. A comprehensive approach including elements of active surveillance and effective monitoring can help to minimize the risk of nosocomial infections.

Branding and the Risk Management Imperative

OpenAIRE

Fournier Susan; Srinivasan Shuba

2018-01-01

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

42 CFR 441.476 - Risk management.

Science.gov (United States)

2010-10-01

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

Methods of Financial Risk Management

Directory of Open Access Journals (Sweden)

Korzh Natalia

2016-10-01

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

Risk Management and Risk Psychology in Romanian Sme’s

Directory of Open Access Journals (Sweden)

Irina Dănciulescu

2015-12-01

Full Text Available Risk is one of the biggest and most fascinating challenges of all times for humanity, because of its presence in all fields. Risk management as a component of modern management, has become a main concern for the modern world and one of the “key mechanisms” of economic development, a complex processn that includes a series of activities meant to alleviate the impact of risk over business and planed or foreseen results. This paper wants to bring to attention the importance of risks and their management in today’s economic crisis. The sector presented is the IT& C, especially software, because Romania had a growth in this area for a few years but beginning the crisis this segment in economy had known a serious decrease. This paper tries to connect risk management and risk psychology to Romanian economy, culture and mentality. The paper presents in short some of risk management characteristics, definitions and few opinions; why in Romania this subject is not treated with the appropriate attention. The paper at hand focuses on the psychology of risk and how it affects the life of individuals and the existence of companies, the importance it should have on day to day basis, especially in Romania

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.

Natural-technological risk assessment and management

Science.gov (United States)

Burova, Valentina; Frolova, Nina

2016-04-01

EM-DAT statistical data on human impact and economic damages in the 1st semester 2015 are the highest since 2011: 41% of disasters were floods, responsible for 39% of economic damage and 7% of events were earthquakes responsible for 59% of total death toll. This suggests that disaster risk assessment and management still need to be improved and stay the principle issue in national and international related programs. The paper investigates the risk assessment and management practice in the Russian Federation at different levels. The method is proposed to identify the territories characterized by integrated natural-technological hazard. The maps of the Russian Federation zoning according to the integrated natural-technological hazard level are presented, as well as the procedure of updating the integrated hazard level taking into account the activity of separate processes. Special attention is paid to data bases on past natural and technological processes consequences, which are used for verification of current hazard estimation. The examples of natural-technological risk zoning for the country and some regions territory are presented. Different output risk indexes: both social and economic, are estimated taking into account requirements of end-users. In order to increase the safety of population of the Russian Federation the trans-boundaries hazards are also taken into account.

Improving Flood Risk Maps as a Capacity Building Activity: Fostering Public Participation and Raising Flood Risk Awareness in the German Mulde Region (project RISK MAP)

Science.gov (United States)

Luther, J.; Meyer, V.; Kuhlicke, C.; Scheuer, S.; Unnerstall, H.

2012-04-01

The EU Floods Directive requires the establishment of flood risk maps for high risk areas in all EU Member States by 2013. However, if existing at all, the current practice of risk mapping still shows some deficits: Risk maps are often seen as an information tool rather than a communication tool. This means that e.g. important local knowledge is not incorporated and forms a contrast to the understanding of capacity building which calls for engaging individuals in the process of learning and adapting to change and for the establishment of a more interactive public administration that learns equally from its actions and from the feedback it receives. Furthermore, the contents of risk maps often do not match the requirements of the end users, so that risk maps are often designed and visualised in a way which cannot be easily understood by laypersons and/or which is not suitable for the respective needs of public authorities in risk and flood event management. The project RISK MAP aimed at improving flood risk maps as a means to foster public participation and raising flood risk awareness. For achieving this aim, RISK MAP (1) developed rules for appropriate stakeholder participation enabling the incorporation of local knowledge and preferences; (2) improved the content of risk maps by considering different risk criteria through the use of a deliberative multicriteria risk mapping tool; and (3) improved the visualisation of risk maps in order to produce user-friendly risk maps by applying the experimental graphic semiology (EGS) method that uses the eye tracking approach. The research was carried out in five European case studies where the status quo of risk mapping and the legal framework was analysed, several stakeholder interviews and workshops were conducted, the visual perception of risk maps was tested and - based on this empirical work - exemplary improved risk maps were produced. The presentation and paper will outline the main findings of the project which

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

Directory of Open Access Journals (Sweden)

Johansen Taber KA

2015-01-01

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

Taking risk assessment and management to the next level - 59395

International Nuclear Information System (INIS)

Nelson, Jerel; Morton, Russel Lee; Castillo, Carlos; Dyer, George; Johnson, Natalie; McSwain, James T.; Kruskall, Gary Nick

2012-01-01

Document available in abstract form only. Full text of publication follows: A multi-level (facility and programmatic) risk assessment was conducted for the facilities in the Nevada National Security Site (NNSS) Readiness in Technical Base and Facilities (RTBF) Program and results were included in a new Risk Management Plan (RMP), which was incorporated into the fiscal year (FY) 2010 Integrated Plans. Risks, risk events, probability, consequence(s), and mitigation strategies were identified and captured, for most scope areas (i.e., risk categories) during the facilitated risk workshops. Risk mitigations (i.e., efforts in addition to existing controls) were identified during the facilitated risk workshops when the risk event was identified. Risk mitigation strategies fell into two broad categories: threats or opportunities. Improvement projects were identified and linked to specific risks they mitigate, making the connection of risk reduction through investments for the annual Site Execution Plan. Due to the amount of that was collected, analysis to be performed, and reports to be generated, a Risk Assessment/ Management Tool (RAMtool) database was developed to analyze the risks in real-time, at multiple levels, which reinforced the site-level risk management process and procedures. The RAMtool database was developed and designed to assist in the capturing and analysis of the key elements of risk: probability, consequence, and impact

Management of risks in the public interest

International Nuclear Information System (INIS)

Nathwani, J.S.; Lind, N.C.; Siddall, E.

1990-01-01

The study is a model framework for making decisions about risks and benefits and how the basis for such decisions can be improved through a more rational and scientific approach. An aim is to establish a general approach to the management of risks in society. The original impetus was to prepare for a study of the full socio-economic impact of nuclear energy. However, as the study progressed, it became clear that the total social and economic impacts of a single energy technology cannot be satisfactorily addressed in isolation. (orig./DG)

Water risk assessment in China based on the improved Water Risk Filter

Science.gov (United States)

Hong, G.; Yaqin, Q.; Qiong, L.; Cunwen, N.; Na, W.; Jiajia, L.; Jongde, G.; Na, Z.; Xiangyi, D.

2014-09-01

Finding an effective way to deal with the water crisis and the relationship between water and development is a major issue for all levels of government and different economic sectors across the world. Scientific understanding of water risk is the basis for achieving a scientific relationship between water and development, and water risk assessment is currently an important research focus. To effectively deal with the global water crisis, the World Wide Fund for Nature and German Investment and Development Company Limited proposed the concept of water risk and released an online Water Risk Filter in March 2012, which has been applied to at least 85 countries. To comprehensively and accurately reflect the situation of water risk in China, this study adjusts the water risk assessment indicators in the Water Risk Filter, taking the actual situation in China and the difficulty of obtaining the information about the indicators into account, and proposes an index system for water risk evaluation for China which consists of physical risk, regulatory risk and reputational risk. The improved Water Risk Filter is further used to assess the sources and causes of the water risks in 10 first-class and seven second-class water resource areas (WRAs). The results indicate that the water risk for the whole country is generally medium and low, while those for different regions in the country vary greatly, and those for southern regions are generally lower than those for northern regions. Government regulatory and policy implementation as well as media supervision in northern regions should be strengthened to reduce the water risk. The research results may provide decision support and references for both governments and industrial enterprises in identifying water risks, formulating prevention and control policies, and improving water resources management in China.

Water risk assessment in China based on the improved Water Risk Filter

Directory of Open Access Journals (Sweden)

G. Hong

2014-09-01

Full Text Available Finding an effective way to deal with the water crisis and the relationship between water and development is a major issue for all levels of government and different economic sectors across the world. Scientific understanding of water risk is the basis for achieving a scientific relationship between water and development, and water risk assessment is currently an important research focus. To effectively deal with the global water crisis, the World Wide Fund for Nature and German Investment and Development Company Limited proposed the concept of water risk and released an online Water Risk Filter in March 2012, which has been applied to at least 85 countries. To comprehensively and accurately reflect the situation of water risk in China, this study adjusts the water risk assessment indicators in the Water Risk Filter, taking the actual situation in China and the difficulty of obtaining the information about the indicators into account, and proposes an index system for water risk evaluation for China which consists of physical risk, regulatory risk and reputational risk. The improved Water Risk Filter is further used to assess the sources and causes of the water risks in 10 first-class and seven second-class water resource areas (WRAs. The results indicate that the water risk for the whole country is generally medium and low, while those for different regions in the country vary greatly, and those for southern regions are generally lower than those for northern regions. Government regulatory and policy implementation as well as media supervision in northern regions should be strengthened to reduce the water risk. The research results may provide decision support and references for both governments and industrial enterprises in identifying water risks, formulating prevention and control policies, and improving water resources management in China.

Quality risk management in pharmaceutical development.

Science.gov (United States)

Charoo, Naseem Ahmad; Ali, Areeg Anwer

2013-07-01

The objective of ICH Q8, Q9 and Q10 documents is application of systemic and science based approach to formulation development for building quality into product. There is always some uncertainty in new product development. Good risk management practice is essential for success of new product development in decreasing this uncertainty. In quality by design paradigm, the product performance properties relevant to the patient are predefined in target product profile (TPP). Together with prior knowledge and experience, TPP helps in identification of critical quality attributes (CQA's). Initial risk assessment which identifies risks to these CQA's provides impetus for product development. Product and process are designed to gain knowledge about these risks, devise strategies to eliminate or mitigate these risks and meet objectives set in TPP. By laying more emphasis on high risk events the protection level of patient is increased. The process being scientifically driven improves the transparency and reliability of the manufacturer. The focus on risk to the patient together with flexible development approach saves invaluable resources, increases confidence on quality and reduces compliance risk. The knowledge acquired in analysing risks to CQA's permits construction of meaningful design space. Within the boundaries of the design space, variation in critical material characteristics and process parameters must be managed in order to yield a product having the desired characteristics. Specifications based on product and process understanding are established such that product will meet the specifications if tested. In this way, the product is amenable to real time release, since specifications only confirm quality but they do not serve as a means of effective process control.

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.

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

various solutions proposed for reducing vulnerabilities (and consequentially their risks). To resolve a post-disaster situation, the actors prioritize one main type of vulnerability to address a set of vulnerabilities (in a multi-vulnerability context). With this choice, they define their own acceptable risk limits and the type of action that is most relevant. In doing so, they have to determine what elements can be changed and improved and which elements must be considered essential and preserved or the priority variables. These may include: equipment, production facilities, networks, services, modes of production and organizations, etc. or various economic and social capitals upon which individuals and groups rely for recovering from a post-disaster situation. Depending on the actor, certain factors will be will be emphasized over others and these may change over time. Linked with this political, institutional and geographical analysis of risk management, this work also questions who are the legitimate actors and the right criteria to prioritize risk reduction actions using public funds criteria and finally, which motivations are satisfied. In this sense, the challenge for managers of natural hazards is to move from risk management in the strict sense, which focuses mainly on hazards only, to a broader risks management, taking into consideration what is important for society and for the functioning of systems (what have not be vulnerable in a territorial system). In a context where risk and risk management is produced and managed by both formal and informal stakeholders, the main issue is how to engage the various stakeholders and evaluate different priorities of risk in order to determine which actions are best suited for a more balanced approach to risk management. This case study demonstrates that reducing landslide risk is subject to interpretation depending on the stakeholder and the result of priorities, providing on the role of each actor, their needs and range

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.

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.

Risk Management and Simulation

DEFF Research Database (Denmark)

Skovmand, David

2014-01-01

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

Overview of the Hanford risk management plan

International Nuclear Information System (INIS)

Halverson, T.G.

1998-01-01

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

Disaster Risk Management and Measurement Indicators for Cultural Heritage in Taiwan

Science.gov (United States)

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

2015-08-01

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

Hybrid Risk Management Methodology: A Case Study

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Jacky Siu-Lun Ting

2009-10-01

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

INTERNAL AUDIT AND RISK MANAGEMENT

OpenAIRE

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

2014-01-01

The existence of risk in economic activity can not be denied. In fact, the risk is a concept which exists in every activity, the term of risk being identified with uncertainty, respectively the (un)chance to produce an undesirable event. Internal audit and risk management aim at the same goal, namely the control of risks. Internal Audit performs several roles in risk management plan. The objectives of the internal audit function varies from company to company, but in all economic entities int...

Market Analysis and Risk Management of EU Emissions Trading - MARMET

International Nuclear Information System (INIS)

Ollikainen, M.; Aatola, P.; Ollikka, K.; Kumpulainen, A.; Pohjola, T.; Lappalainen, E.

2007-01-01

The first period of the EU Emissions Trading Scheme (EU ETS) commenced on January 1st 2005. It implies new challenges to companies included in the scheme. A central challenge is the uncertainty related to the markets. In order to manage their risks and profitability companies need to be able to estimate future price developments of emission allowances. The University of Helsinki is conducting a research project in cooperation with the Helsinki University of Technology that will provide necessary information for analyzing European Union emission allowance (EUA) markets and create risk management competence. The objectives of the research project are (1) to develop a price estimation model for EU emission allowances and (2) to develop risk management competence related to EU ETS. With the price estimation model the short-term price developments of EUAs can be estimated. By utilizing the model companies can reduce uncertainties related to the markets. The project also delivers a general risk management model for EU ETS that aims at improving competitiveness of companies. (orig.)

Information security risk management and incompatible parts of organization

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Elham Talabeigi

2016-11-01

Full Text Available Purpose: we prepared a questionnaire to evaluate Incompatible parts and also risk management in University of Science and Technology E-Learning Center and studying the Incompatible parts impacts on utility of organization. Design/methodology/approach: By using coalitional game theory we present a new model to recognize the degrees of incompatibility among independent divisions of an organization with dependent security assets. Based on positive and negative interdependencies in the parts, the model provides how the organization can decrease the security risks through non-cooperation rather than cooperation. we implement the proposed model of this paper by analyzing the data which have been provided by questionnaires from different three managers' ideas of Iran University of Science and Technology E-Learning Center located in Iran University of Science and Technology, Tehran, Iran. Findings: In general, by collecting data and analyzing them, the survey showed that Incompatible parts of organizations have negative impacts on utility of organization risk management process. Furthermore, it adds values to other organizations and provides the best practices in planning, developing, implementing and monitoring risk management in organizations. Research limitations/implications: Since Information security and also Risk Management are still areas which need to improve in some Iranian universities, we couldn’t consider them in our analysis. On the other hand, due to questionnaire limitation, the study’s sample size is 1. This size may be considered large for our statistical analysis. Originality/value:  The main contribution of this paper is to propose a model for non-cooperation among a number of divisions in a organization and using risk management factors.

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...

Research on Occupational Safety, Health Management and Risk Control Technology in Coal Mines.

Science.gov (United States)

Zhou, Lu-Jie; Cao, Qing-Gui; Yu, Kai; Wang, Lin-Lin; Wang, Hai-Bin

2018-04-26

This paper studies the occupational safety and health management methods as well as risk control technology associated with the coal mining industry, including daily management of occupational safety and health, identification and assessment of risks, early warning and dynamic monitoring of risks, etc.; also, a B/S mode software (Geting Coal Mine, Jining, Shandong, China), i.e., Coal Mine Occupational Safety and Health Management and Risk Control System, is developed to attain the aforementioned objectives, namely promoting the coal mine occupational safety and health management based on early warning and dynamic monitoring of risks. Furthermore, the practical effectiveness and the associated pattern for applying this software package to coal mining is analyzed. The study indicates that the presently developed coal mine occupational safety and health management and risk control technology and the associated software can support the occupational safety and health management efforts in coal mines in a standardized and effective manner. It can also control the accident risks scientifically and effectively; its effective implementation can further improve the coal mine occupational safety and health management mechanism, and further enhance the risk management approaches. Besides, its implementation indicates that the occupational safety and health management and risk control technology has been established based on a benign cycle involving dynamic feedback and scientific development, which can provide a reliable assurance to the safe operation of coal mines.

Managing project risks and uncertainties

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Mike Mentis

2015-01-01

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

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

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Đapić Mirko

2012-03-01

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

Chronic kidney disease risk reduction in a Hispanic population through pharmacist-based disease-state management.

Science.gov (United States)

Leal, Sandra; Soto, Marisa

2008-04-01

The purpose of this study was to evaluate the ability of a pharmacist-based disease-state management service to improve the care of indigent, predominately Spanish-speaking patients with diabetes mellitus and common comorbid conditions at high risk for the development of chronic kidney disease (CKD). Patients at high risk for developing CKD who have diabetes at a community health center were placed in a pharmacist-based disease state management service for CKD risk reduction. A residency-trained, bilingual, certified diabetes educator, with a PharmD served as the patient's provider using diagnostic, educational, and therapeutic management services under a medical staff approved collaborative practice agreement. Outcomes were assessed by using national standards of care for disease control and prevention screening. The impact on CKD was shown with a mean A1C decrease of 2% and improvement in the proportion of patients at target goals for blood pressure, A1C, and cholesterol levels and receiving aspirin and angiotensin-converting enzyme inhibitor/angiotensin receptor blocker. A pharmacist-based disease-state management service for CKD risk reduction, care of diabetes, and frequently associated comorbid conditions improved compliance with national standards for diabetes care in a high-risk population.

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.

PERFORMANCE IN INTERNAL CONTROL AND RISK MANAGEMENT

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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.