IT Operational Risk Measurement Model Based on Internal Loss Data of Banks

Science.gov (United States)

Hao, Xiaoling

Business operation of banks relies increasingly on information technology (IT) and the most important role of IT is to guarantee the operational continuity of business process. Therefore, IT Risk management efforts need to be seen from the perspective of operational continuity. Traditional IT risk studies focused on IT asset-based risk analysis and risk-matrix based qualitative risk evaluation. In practice, IT risk management practices of banking industry are still limited to the IT department and aren't integrated into business risk management, which causes the two departments to work in isolation. This paper presents an improved methodology for dealing with IT operational risk. It adopts quantitative measurement method, based on the internal business loss data about IT events, and uses Monte Carlo simulation to predict the potential losses. We establish the correlation between the IT resources and business processes to make sure risk management of IT and business can work synergistically.

Defining the Intrinsic Cardiac Risks of Operations to Improve Preoperative Cardiac Risk Assessments.

Science.gov (United States)

Liu, Jason B; Liu, Yaoming; Cohen, Mark E; Ko, Clifford Y; Sweitzer, Bobbie J

2018-02-01

Current preoperative cardiac risk stratification practices group operations into broad categories, which might inadequately consider the intrinsic cardiac risks of individual operations. We sought to define the intrinsic cardiac risks of individual operations and to demonstrate how grouping operations might lead to imprecise estimates of perioperative cardiac risk. Elective operations (based on Common Procedural Terminology codes) performed from January 1, 2010 to December 31, 2015 at hospitals participating in the American College of Surgeons National Surgical Quality Improvement Program were studied. A composite measure of perioperative adverse cardiac events was defined as either cardiac arrest requiring cardiopulmonary resuscitation or acute myocardial infarction. Operations' intrinsic cardiac risks were derived from mixed-effects models while controlling for patient mix. Resultant risks were sorted into low-, intermediate-, and high-risk categories, and the most commonly performed operations within each category were identified. Intrinsic operative risks were also examined using a representative grouping of operations to portray within-group variation. Sixty-six low, 30 intermediate, and 106 high intrinsic cardiac risk operations were identified. Excisional breast biopsy had the lowest intrinsic cardiac risk (overall rate, 0.01%; odds ratio, 0.11; 95% CI, 0.02 to 0.25) relative to the average, whereas aorto-bifemoral bypass grafting had the highest (overall rate, 4.1%; odds ratio, 6.61; 95% CI, 5.54 to 7.90). There was wide variation in the intrinsic cardiac risks of operations within the representative grouping (median odds ratio, 1.40; interquartile range, 0.88 to 2.17). A continuum of intrinsic cardiac risk exists among operations. Grouping operations into broad categories inadequately accounts for the intrinsic cardiac risk of individual operations.

Operational risk assessment.

Science.gov (United States)

McKim, Vicky L

2017-06-01

In the world of risk management, which encompasses the business continuity disciplines, many types of risk require evaluation. Financial risk is most often the primary focus, followed by product and market risks. Another critical area, which typically lacks a thorough review or may be overlooked, is operational risk. This category encompasses many risk exposure types including those around building structures and systems, environmental issues, nature, neighbours, clients, regulatory compliance, network, data security and so on. At times, insurance carriers will assess internal hazards, but seldom do these assessments include more than a cursory look at other types of operational risk. In heavily regulated environments, risk assessments are required but may not always include thorough assessments of operational exposures. Vulnerabilities may linger or go unnoticed, only to become the catalyst for a business disruption at a later time, some of which are so severe that business recovery becomes nearly impossible. Businesses may suffer loss of clients as the result of a prolonged disruption of services. Comprehensive operational risk assessments can assist in identifying such vulnerabilities, exposures and threats so that the risk can be minimised or removed. This paper lays out how an assessment of this type can be successfully conducted.

Does Operational Risk Disclosure Quality Increase Operating Cash Flows?

Directory of Open Access Journals (Sweden)

Haitham Nobanee

2017-12-01

Full Text Available This study aims to measure the degree of operational risk disclosure and examine its impact on operating cash flow of banks listed on the UAE Abu Dhabi Stock Exchange (ADX and Dubai Financial Market (DFM during the period 2003-2016. The authors conducted content analysis of the annual reports to measure the degree of operational risk disclosure. In addition, they used dynamic panel data regressions to analyze the impact of operational risk disclosure on the operating cash flow generated by the banks. The results show a low degree of operational risk disclosure for all UAE banks, both Islamic and conventional. In addition, the results show no association between the levels of disclosure of operational risk and cash flow for all banks, conventional and Islamic. Operational risk disclosure of Islamic banks has not been examined by any prior researchers. In addition, this paper examines the potential impact of operational risk disclosure on the operating cash flow generated by the banks.

Track 6: safety and risk management. Plant operational risk management. Plant Configuration Risk Assessment Methodology Development for Periodic Maintenance

International Nuclear Information System (INIS)

Yang, Huichang; Chung, Chang Hyun; Sung, Key Yong

2001-01-01

plant risk level. Such a change in the arrangement of the plant equipment and system at a given time period can be represented as the plant configuration. The plant configuration risk assessment methodology that was developed during this study consists of six steps, as follows: 1. Identification of plant configuration: In this step, various events that occurred in the plant should be identified through a review of the plant operation records such as the periodic maintenance and inspection schedules, maintenance or repair request logs, trouble reports, and other documents related to operational activity. 2. Evaluation of probabilistic risk assessment (PRA) model and computer codes: For the effective evaluation of plant risk during normal operation, an appropriate plant risk model should 273 be used, and the capability of computer codes should be evaluated. There might be numerous events that require the maintenance activity during normal operation. To handle these events during the risk calculation, an optimized plant PRA model and a risk analysis tool of fast calculation capacity are needed. 3. Development of baseline risk model and evaluation of baseline risk: The baseline risk model is a risk model similar to that used for the level 1 PRA, but the maintenance-related events are excluded. This methodology focuses on the relative risk change caused by the usual plant events. For this purpose, the baseline risk that will be the reference of risk variation should be evaluated as reasonably as possible. 4. Analysis of components and systems: For the detailed risk analysis, it is useful to perform the importance analysis for the target components or systems before calculating the plant risks. In terms of system unavailability analysis and importance analysis, information of specific components and systems should be performed for the detailed risk analysis 5. Evaluation of configuration risks and sensitivity analysis: Using the configuration and the system information from

Risk monitor - a tool for operational safety assessment risk monitor - user's manual

International Nuclear Information System (INIS)

Hari Prasad, M.; Vinod, Gopika; Saraf, R.K.; Ghosh, A.K.

2006-06-01

Probabilistic Safety Assessment has become a key tool as on today to identify and understand Nuclear Power Plant vulnerabilities. As a result of the availability of these PSA studies, there is a desire to use them to enhance plant safety and to operate the nuclear stations in the most efficient manner. Risk Monitor is a PC based tool, which computes the real time safety level and assists plant personnel to manage day-to-day activities. Risk Monitor is a PC based user friendly software tool used for modification and re-analysis of a nuclear Power plant. Operation of Risk Monitor is based on PSA methods for assisting in day to day applications. Risk Monitoring programs can assess the risk profile and are used to optimize the operation of Nuclear Power Plants with respect to a minimum risk level over the operating time. This report presents the background activities of Risk Monitor, its application areas and the step by step procedure for the user.to interact with the software. This software can be used with the PSA model of any Nuclear Power Plant. (author)

Operational risk and e-banking

Directory of Open Access Journals (Sweden)

Şerbu, R.

2010-12-01

Full Text Available Banking involves a variety of risks. Under Basel II, the main risks are the monitored credit risk, market risk and operational risk. Frequently, operational risks are underestimated, considering that they would not affect the optimal activity of a bank. However, past experience of some credit institutions have shown that operational risk is an important cause of financial losses in the banking sector. Operational risk is generated by a complex of factors that manifests primarily as a result of direct customer interaction with the credit institution. In this context, the provision of e-banking services reduces direct contact with bank customers and thus reduces potential losses arising from operational risk. In sum, we consider it necessary to be aware of the link between operational risk and e-banking services promoted by banks and of the importance of this connection especially in a financial environment affected by the financial crisis.

Risk Factors and Predictive Model Development of Thirty-Day Post-Operative Surgical Site Infection in the Veterans Administration Surgical Population.

Science.gov (United States)

Li, Xinli; Nylander, William; Smith, Tracy; Han, Soonhee; Gunnar, William

2018-04-01

Surgical site infection (SSI) complicates approximately 2% of surgeries in the Veterans Affairs (VA) hospitals. Surgical site infections are responsible for increased morbidity, length of hospital stay, cost, and mortality. Surgical site infection can be minimized by modifying risk factors. In this study, we identified risk factors and developed accurate predictive surgical specialty-specific SSI risk prediction models for the Veterans Health Administration (VHA) surgery population. In a retrospective observation study, surgical patients who underwent surgery from October 2013 to September 2016 from 136 VA hospitals were included. The Veteran Affairs Surgical Quality Improvement Program (VASQIP) database was used for the pre-operative demographic and clinical characteristics, intra-operative characteristics, and 30-day post-operative outcomes. The study population represents 11 surgical specialties: neurosurgery, urology, podiatry, otolaryngology, general, orthopedic, plastic, thoracic, vascular, cardiac coronary artery bypass graft (CABG), and cardiac valve/other surgery. Multivariable logistic regression models were developed for the 30-day post-operative SSIs. Among 354,528 surgical procedures, 6,538 (1.8%) had SSIs within 30 days. Surgical site infection rates varied among surgical specialty (0.7%-3.0%). Surgical site infection rates were higher in emergency procedures, procedures with long operative duration, greater complexity, and higher relative value units. Other factors associated with increased SSI risk were high level of American Society of Anesthesiologists (ASA) classification (level 4 and 5), dyspnea, open wound/infection, wound classification, ascites, bleeding disorder, chemotherapy, smoking, history of severe chronic obstructive pulmonary disease (COPD), radiotherapy, steroid use for chronic conditions, and weight loss. Each surgical specialty had a distinct combination of risk factors. Accurate SSI risk-predictive surgery specialty

Probabilistic Risk Assessment for Decision Making During Spacecraft Operations

Science.gov (United States)

Meshkat, Leila

2009-01-01

Decisions made during the operational phase of a space mission often have significant and immediate consequences. Without the explicit consideration of the risks involved and their representation in a solid model, it is very likely that these risks are not considered systematically in trade studies. Wrong decisions during the operational phase of a space mission can lead to immediate system failure whereas correct decisions can help recover the system even from faulty conditions. A problem of special interest is the determination of the system fault protection strategies upon the occurrence of faults within the system. Decisions regarding the fault protection strategy also heavily rely on a correct understanding of the state of the system and an integrated risk model that represents the various possible scenarios and their respective likelihoods. Probabilistic Risk Assessment (PRA) modeling is applicable to the full lifecycle of a space mission project, from concept development to preliminary design, detailed design, development and operations. The benefits and utilities of the model, however, depend on the phase of the mission for which it is used. This is because of the difference in the key strategic decisions that support each mission phase. The focus of this paper is on describing the particular methods used for PRA modeling during the operational phase of a spacecraft by gleaning insight from recently conducted case studies on two operational Mars orbiters. During operations, the key decisions relate to the commands sent to the spacecraft for any kind of diagnostics, anomaly resolution, trajectory changes, or planning. Often, faults and failures occur in the parts of the spacecraft but are contained or mitigated before they can cause serious damage. The failure behavior of the system during operations provides valuable data for updating and adjusting the related PRA models that are built primarily based on historical failure data. The PRA models, in turn

Risk mitigation strategies for operations and maintenance activities.

Science.gov (United States)

2012-04-01

The objective of this research was to investigate the application of integrated risk modeling to operations and maintenance activities, specifically moving operations, such as pavement testing, pavement marking, painting, snow removal, shoulder work,...

Operational Risk Measurement of Chinese Commercial Banks Based on Extreme Value Theory

Science.gov (United States)

Song, Jiashan; Li, Yong; Ji, Feng; Peng, Cheng

The financial institutions and supervision institutions have all agreed on strengthening the measurement and management of operational risks. This paper attempts to build a model on the loss of operational risks basing on Peak Over Threshold model, emphasizing on weighted least square, which improved Hill’s estimation method, while discussing the situation of small sample, and fix the sample threshold more objectively basing on the media-published data of primary banks loss on operational risk from 1994 to 2007.

Combining operational models and data into a dynamic vessel risk assessment tool for coastal regions

Science.gov (United States)

Fernandes, R.; Braunschweig, F.; Lourenço, F.; Neves, R.

2016-02-01

The technological evolution in terms of computational capacity, data acquisition systems, numerical modelling and operational oceanography is supplying opportunities for designing and building holistic approaches and complex tools for newer and more efficient management (planning, prevention and response) of coastal water pollution risk events. A combined methodology to dynamically estimate time and space variable individual vessel accident risk levels and shoreline contamination risk from ships has been developed, integrating numerical metocean forecasts and oil spill simulations with vessel tracking automatic identification systems (AIS). The risk rating combines the likelihood of an oil spill occurring from a vessel navigating in a study area - the Portuguese continental shelf - with the assessed consequences to the shoreline. The spill likelihood is based on dynamic marine weather conditions and statistical information from previous accidents. The shoreline consequences reflect the virtual spilled oil amount reaching shoreline and its environmental and socio-economic vulnerabilities. The oil reaching shoreline is quantified with an oil spill fate and behaviour model running multiple virtual spills from vessels along time, or as an alternative, a correction factor based on vessel distance from coast. Shoreline risks can be computed in real time or from previously obtained data. Results show the ability of the proposed methodology to estimate the risk properly sensitive to dynamic metocean conditions and to oil transport behaviour. The integration of meteo-oceanic + oil spill models with coastal vulnerability and AIS data in the quantification of risk enhances the maritime situational awareness and the decision support model, providing a more realistic approach in the assessment of shoreline impacts. The risk assessment from historical data can help finding typical risk patterns ("hot spots") or developing sensitivity analysis to specific conditions, whereas real

Dynamic Bayesian modeling for risk prediction in credit operations

DEFF Research Database (Denmark)

Borchani, Hanen; Martinez, Ana Maria; Masegosa, Andres

2015-01-01

Our goal is to do risk prediction in credit operations, and as data is collected continuously and reported on a monthly basis, this gives rise to a streaming data classification problem. Our analysis reveals some practical problems that have not previously been thoroughly analyzed in the context...

Treatment of operator actions in the HTGR risk assessment study

International Nuclear Information System (INIS)

Fleming, K.N.; Silady, F.A.; Hannaman, G.W.

1979-12-01

Methods are presented for the treatment of operator actions, developed in the AIPA risk assessment study. Some examples are given of how these methods were applied to the analysis of potential HTGR accidents. Realistic predictions of accident risks required a balanced treatment of both beneficial and detrimental actions and responses of human operators and maintenance crews. Th essential elements of the human factors methodology used in the AIPA study include event tree and fault tree analysis, time-dependent operator response and repair models, a method for quantifying common cause failure probabilities, and synthesis of relevant experience data for use in these models

Risk averse optimal operation of a virtual power plant using two stage stochastic programming

International Nuclear Information System (INIS)

Tajeddini, Mohammad Amin; Rahimi-Kian, Ashkan; Soroudi, Alireza

2014-01-01

VPP (Virtual Power Plant) is defined as a cluster of energy conversion/storage units which are centrally operated in order to improve the technical and economic performance. This paper addresses the optimal operation of a VPP considering the risk factors affecting its daily operation profits. The optimal operation is modelled in both day ahead and balancing markets as a two-stage stochastic mixed integer linear programming in order to maximize a GenCo (generation companies) expected profit. Furthermore, the CVaR (Conditional Value at Risk) is used as a risk measure technique in order to control the risk of low profit scenarios. The uncertain parameters, including the PV power output, wind power output and day-ahead market prices are modelled through scenarios. The proposed model is successfully applied to a real case study to show its applicability and the results are presented and thoroughly discussed. - Highlights: • Virtual power plant modelling considering a set of energy generating and conversion units. • Uncertainty modelling using two stage stochastic programming technique. • Risk modelling using conditional value at risk. • Flexible operation of renewable energy resources. • Electricity price uncertainty in day ahead energy markets

Controlling operational risk: Concepts and practices

NARCIS (Netherlands)

van den Tillaart, A.H.A.J.

2003-01-01

The subject of this thesis is controlling 'operational risk' in banks. Operational risk is defined as the risk of losses resulting from inadequate or failed internal processes, people, systems, or from external events. Within this very broad subject, we focus on the place of operational risk

Improving Operational Risk Management Using Business Performance Management Technologies

Directory of Open Access Journals (Sweden)

Bram Pieket Weeserik

2018-02-01

Full Text Available Operational Risk Management (ORM comprises the continuous management of risks resulting from: human actions, internal processes, systems, and external events. With increasing requirements, complexity and a growing volume of risks, information systems provide benefits for integrating risk management activities and optimizing performance. Business Performance Management (BPM technologies are believed to provide a solution for effective Operational Risk Management by offering several combined technologies including: work flow, data warehousing, (advanced analytics, reporting and dashboards. BPM technologies can be integrated with an organization’s Planning & Control cycle and related to strategic objectives. This manuscript aims to show how ORM can benefit from BPM technologies via the development and practical validation of a new maturity model. The B4ORM maturity model was developed following the Design Science Research approach. The maturity model relates specific maturity levels of ORM processes with BPM technologies applicable for a specific maturity stage. There appears to be a strong relationship (0.78 with ORM process maturity and supporting BPM technologies. The B4ORM maturity model as described in this manuscript provides an ideal path of BPM technologies related to six distinctive stages of ORM, leading towards technologies suitable for continuous improvement of ORM processes and organization-wide integration.

Loss distribution approach for operational risk capital modelling under Basel II: Combining different data sources for risk estimation

Directory of Open Access Journals (Sweden)

Pavel V. Shevchenko

2013-07-01

Full Text Available The management of operational risk in the banking industry has undergone significant changes over the last decade due to substantial changes in operational risk environment. Globalization, deregulation, the use of complex financial products and changes in information technology have resulted in exposure to new risks very different from market and credit risks. In response, Basel Committee for banking Supervision has developed a regulatory framework, referred to as Basel II, that introduced operational risk category and corresponding capital requirements. Over the past five years, major banks in most parts of the world have received accreditation under the Basel II Advanced Measurement Approach (AMA by adopting the loss distribution approach (LDA despite there being a number of unresolved methodological challenges in its implementation. Different approaches and methods are still under hot debate. In this paper, we review methods proposed in the literature for combining different data sources (internal data, external data and scenario analysis which is one of the regulatory requirement for AMA.

Risk evaluation system for operational events and inspection findings

International Nuclear Information System (INIS)

Lopez G, A.; Godinez S, V.; Lopez M, R.

2010-10-01

The Mexican Nuclear Regulatory Commission has developed an adaptation of the US NRC Significance Determination Process (SDP) to evaluate the risk significance of operational events and inspection findings in Laguna Verde nuclear power plant. The Mexican Nuclear Regulatory Commission developed a plant specific flow chart for preliminary screening instead of the open questionnaire used by the US NRC-SDP, with the aim to improve the accuracy of the screening process. Also, the work sheets and support information tables required by the SDP were built up in an Excel application which allows to perform the risk evaluation in an automatic way, focusing the regulator staff efforts in the risk significance analysis instead of the risk calculation tasks. In order to construct this tool a simplified PRA model was developed and validated with the individual plant examination model. This paper shows the Mexican Nuclear Regulatory Commission process and some risk events evaluations performed using the Risk Evaluation System for Operational Events and Inspection Findings (SERHE, by its acronyms in Spanish). (Author)

Business Intelligence Modeling in Launch Operations

Science.gov (United States)

Bardina, Jorge E.; Thirumalainambi, Rajkumar; Davis, Rodney D.

2005-01-01

This technology project is to advance an integrated Planning and Management Simulation Model for evaluation of risks, costs, and reliability of launch systems from Earth to Orbit for Space Exploration. The approach builds on research done in the NASA ARC/KSC developed Virtual Test Bed (VTB) to integrate architectural, operations process, and mission simulations for the purpose of evaluating enterprise level strategies to reduce cost, improve systems operability, and reduce mission risks. The objectives are to understand the interdependency of architecture and process on recurring launch cost of operations, provide management a tool for assessing systems safety and dependability versus cost, and leverage lessons learned and empirical models from Shuttle and International Space Station to validate models applied to Exploration. The systems-of-systems concept is built to balance the conflicting objectives of safety, reliability, and process strategy in order to achieve long term sustainability. A planning and analysis test bed is needed for evaluation of enterprise level options and strategies for transit and launch systems as well as surface and orbital systems. This environment can also support agency simulation .based acquisition process objectives. The technology development approach is based on the collaborative effort set forth in the VTB's integrating operations. process models, systems and environment models, and cost models as a comprehensive disciplined enterprise analysis environment. Significant emphasis is being placed on adapting root cause from existing Shuttle operations to exploration. Technical challenges include cost model validation, integration of parametric models with discrete event process and systems simulations. and large-scale simulation integration. The enterprise architecture is required for coherent integration of systems models. It will also require a plan for evolution over the life of the program. The proposed technology will produce

Business intelligence modeling in launch operations

Science.gov (United States)

Bardina, Jorge E.; Thirumalainambi, Rajkumar; Davis, Rodney D.

2005-05-01

The future of business intelligence in space exploration will focus on the intelligent system-of-systems real-time enterprise. In present business intelligence, a number of technologies that are most relevant to space exploration are experiencing the greatest change. Emerging patterns of set of processes rather than organizational units leading to end-to-end automation is becoming a major objective of enterprise information technology. The cost element is a leading factor of future exploration systems. This technology project is to advance an integrated Planning and Management Simulation Model for evaluation of risks, costs, and reliability of launch systems from Earth to Orbit for Space Exploration. The approach builds on research done in the NASA ARC/KSC developed Virtual Test Bed (VTB) to integrate architectural, operations process, and mission simulations for the purpose of evaluating enterprise level strategies to reduce cost, improve systems operability, and reduce mission risks. The objectives are to understand the interdependency of architecture and process on recurring launch cost of operations, provide management a tool for assessing systems safety and dependability versus cost, and leverage lessons learned and empirical models from Shuttle and International Space Station to validate models applied to Exploration. The systems-of-systems concept is built to balance the conflicting objectives of safety, reliability, and process strategy in order to achieve long term sustainability. A planning and analysis test bed is needed for evaluation of enterprise level options and strategies for transit and launch systems as well as surface and orbital systems. This environment can also support agency simulation based acquisition process objectives. The technology development approach is based on the collaborative effort set forth in the VTB's integrating operations, process models, systems and environment models, and cost models as a comprehensive disciplined

Risk-oriented management of system configurations during power plant operation

International Nuclear Information System (INIS)

Kafka, P.

1991-01-01

The paper explains the purpose, design, and functions of an on-line database called risk monitor, which is developed on the basis of a risk model mapping an entire plant and the functions of the system configurations by a probabilistic and risk-oriented approach in a computerized simulation model. The frequency of occurrence of the various failure modes is computed and specified by fault tree analysis and event tree analysis. The monitoring system is a diagnostic tool for power plant operators. (DG) [de

Role of cognitive models of operators in the design, operation and licensing of nuclear power plants

International Nuclear Information System (INIS)

Rasmussen, J.

1982-01-01

Cognitive models of the behavior of nuclear power plant operators - that is, models developed in terms of human properties rather than external task characteristics - are assuming increasingly important roles in plant design, operation and licensing. This is partly due to an increased concern for human decision making during unfamiliar plant conditions, and partly due to problems that arise when modern information technology is used to support operators in complex situations. Some of the problems identified during work on interface design and risk analysis are described. First, the question of categories of models is raised. Next, the use of cognitive models for system design is discussed. The use of the available cognitive models for more effective operator training is also advocated. The need for using cognitive models in risk analysis is also emphasized. Finally, the sources of human performance data, that is, event reports, incident analysis, experiments, and training simulators are mentioned, and the need for a consistent framework for data analysis based on cognitive models is discussed

Risk Monitoring through Traceability Information Model

OpenAIRE

Juan P. Zamora; Wilson Adarme; Laura Palacios

2012-01-01

This paper shows a traceability framework for supply risk monitoring, beginning with the identification, analysis, and evaluation of the supply chain risk and focusing on the supply operations of the Health Care Institutions with oncology services in Bogota, Colombia. It includes a brief presentation of the state of the art of the Supply Chain Risk Management and traceability systems in logistics operations, and it concludes with the methodology to integrate the SCRM model with the traceabili...

The role of risk analysis in control of complex plants' safety operation

International Nuclear Information System (INIS)

Dumitrescu, Maria; Preda, Irina Aida; Lazar, Roxana Elena; Carcadea, Elena

1999-01-01

The problem of risk estimation, assessment and control is necessary to be discussed at every decision level of an activity. In this way the performances of a system, action or technology are qualitatively assessed by indicating the possible consequences on environmental, people or property. The paper presents methodologies of risk assessment successfully applied on isotopic separation plants. The quantitative methodologies presented use fault tree and event tree to determine the accident states frequency and physical models to analyse the dispersion in atmosphere of dangerous substances. The qualitative methodologies use fuzzy models for the multi-criteria decision making, models based on risk matrix built on the basis of a combination between severity and probability of maximum admissible consequence. These methodologies present the following steps for applying: familiarising with the activity in study, establishing the adequate method of risk assessment, realising of the model of risk assessment for the activity or objective in study, developing of application of the proposed model. Applying this methodology to isotopic separation plants has led to: analysis of operation events and establishing of principal types of events potentially dangerous, analysis of human error in these plants operation and operating experience assessment, technical specifications optimisation by probabilistic safety assessment, reliability analysis and development of reliability and exploitation events database, post accident events analysis (releases, fires, explosions) and mathematical modelling of dispersion in atmosphere of dangerous substances. The risk concept being complex and with multiple implications, it is not the case of a rigid approaching neither of existence of some methods universally valid. Because of these reasons choosing of the most appropriate method for the risk assessment of an activity, leads to solution in due time, of some problems with economic, social

The role of risk analysis in control of complex plant safe operation

International Nuclear Information System (INIS)

Dumitrescu, Maria; Preda, Irina Aida; Lazar, Roxana Elena; Carcadea, Elena

1999-01-01

The problem of risk estimation assessment and control is necessary to be discussed in every decision making level of an activity. Performances of a system, action or technology, by indicating the possible consequences on environment, people or property should be qualitatively assessed. The paper presents methodologies of risk assessment successful applied on isotopic separation plants. The quantitative methodologies presented, use fault tree and event tree to determine the accident states frequency, physical models to analyse the dispersion in atmosphere of dangerous substances. The qualitative methodologies use the fuzzy models for the multicriterial decision making, models based on risk matrix build on the base of combination between the severity and the probability of maximum admissible consequence. These methodologies present the following steps for applying: familiarising with the activity in study, establishing the adequate method of risk assessment, building the model of risk assessment for the activity or objective in study, developing the applications of the proposed model. Applying this methodology to isotopic separation plants have led to: analysis of operation events and establishing of principal types of events potentially dangerous, analysis of human error in these plant operations and operating experience assessment, technical specifications for optimisation by probabilistic safety assessment, reliability analysis and development of reliability and exploitation of events database, post accident events analysis (releases, fires, explosions) and mathematical modelling of dispersion in atmosphere of dangerous substances. The risk concept being complex and with multiple implications, is not the case of a rigid approaching neither of existence of some methods universally valid. Because of these reasons, choosing of the most appropriate method for the risk assessment of an activity, leads to a solution in useful time, of some problems with economic, social

RISK LOAN PORTFOLIO OPTIMIZATION MODEL BASED ON CVAR RISK MEASURE

Directory of Open Access Journals (Sweden)

Ming-Chang LEE

2015-07-01

Full Text Available In order to achieve commercial banks liquidity, safety and profitability objective requirements, loan portfolio risk analysis based optimization decisions are rational allocation of assets.  The risk analysis and asset allocation are the key technology of banking and risk management.  The aim of this paper, build a loan portfolio optimization model based on risk analysis.  Loan portfolio rate of return by using Value-at-Risk (VaR and Conditional Value-at-Risk (CVaR constraint optimization decision model reflects the bank's risk tolerance, and the potential loss of direct control of the bank.  In this paper, it analyze a general risk management model applied to portfolio problems with VaR and CVaR risk measures by using Using the Lagrangian Algorithm.  This paper solves the highly difficult problem by matrix operation method.  Therefore, the combination of this paper is easy understanding the portfolio problems with VaR and CVaR risk model is a hyperbola in mean-standard deviation space.  It is easy calculation in proposed method.

Risk of Recurrence in Operated Parasagittal Meningiomas: A Logistic Binary Regression Model.

Science.gov (United States)

Escribano Mesa, José Alberto; Alonso Morillejo, Enrique; Parrón Carreño, Tesifón; Huete Allut, Antonio; Narro Donate, José María; Méndez Román, Paddy; Contreras Jiménez, Ascensión; Pedrero García, Francisco; Masegosa González, José

2018-02-01

Parasagittal meningiomas arise from the arachnoid cells of the angle formed between the superior sagittal sinus (SSS) and the brain convexity. In this retrospective study, we focused on factors that predict early recurrence and recurrence times. We reviewed 125 patients with parasagittal meningiomas operated from 1985 to 2014. We studied the following variables: age, sex, location, laterality, histology, surgeons, invasion of the SSS, Simpson removal grade, follow-up time, angiography, embolization, radiotherapy, recurrence and recurrence time, reoperation, neurologic deficit, degree of dependency, and patient status at the end of follow-up. Patients ranged in age from 26 to 81 years (mean 57.86 years; median 60 years). There were 44 men (35.2%) and 81 women (64.8%). There were 57 patients with neurologic deficits (45.2%). The most common presenting symptom was motor deficit. World Health Organization grade I tumors were identified in 104 patients (84.6%), and the majority were the meningothelial type. Recurrence was detected in 34 cases. Time of recurrence was 9 to 336 months (mean: 84.4 months; median: 79.5 months). Male sex was identified as an independent risk for recurrence with relative risk 2.7 (95% confidence interval 1.21-6.15), P = 0.014. Kaplan-Meier curves for recurrence had statistically significant differences depending on sex, age, histologic type, and World Health Organization histologic grade. A binary logistic regression was made with the Hosmer-Lemeshow test with P > 0.05; sex, tumor size, and histologic type were used in this model. Male sex is an independent risk factor for recurrence that, associated with other factors such tumor size and histologic type, explains 74.5% of all cases in a binary regression model. Copyright © 2017 Elsevier Inc. All rights reserved.

The relationship between operating risk and accounting conservatism: Evidence from Iranian banking industry

Directory of Open Access Journals (Sweden)

Mehdi Taghavi

2014-04-01

Full Text Available The purpose of this study is to analyze the relationship between operational risk and accounting conservatism. The criterion used for operational risk in this study is asset volatility and for accounting conservatism, we use Ball and Shivakumar (2005 model [Ball, R., & Shivakumar, L. (2005. Earnings quality in UK private firms: comparative loss recognition timeliness. Journal of Accounting and Economics, 39(1, 83-128.], which analyzes accounting from balance sheet sight. The statistical society used in this study is taken from 15 banks in Tehran Stock Exchange over the period 2006-2012. The research result demonstrates that there was a negative relationship between operational risk and accounting conservatism. In other words, there is a significant negative relationship between operational risk and accounting conservatism. Hence, the results suggest that with an increase (decrease in operational risk, accounting conservatism decreases (increases.

Short Operative Duration and Surgical Site Infection Risk in Hip and Knee Arthroplasty Procedures.

Science.gov (United States)

Dicks, Kristen V; Baker, Arthur W; Durkin, Michael J; Anderson, Deverick J; Moehring, Rebekah W; Chen, Luke F; Sexton, Daniel J; Weber, David J; Lewis, Sarah S

2015-12-01

To determine the association (1) between shorter operative duration and surgical site infection (SSI) and (2) between surgeon median operative duration and SSI risk among first-time hip and knee arthroplasties. Retrospective cohort study A total of 43 community hospitals located in the southeastern United States. Adults who developed SSIs according to National Healthcare Safety Network criteria within 365 days of first-time knee or hip arthroplasties performed between January 1, 2008 and December 31, 2012. Log-binomial regression models estimated the association (1) between operative duration and SSI outcome and (2) between surgeon median operative duration and SSI outcome. Hip and knee arthroplasties were evaluated in separate models. Each model was adjusted for American Society of Anesthesiology score and patient age. A total of 25,531 hip arthroplasties and 42,187 knee arthroplasties were included in the study. The risk of SSI in knee arthroplasties with an operative duration shorter than the 25th percentile was 0.40 times the risk of SSI in knee arthroplasties with an operative duration between the 25th and 75th percentile (risk ratio [RR], 0.40; 95% confidence interval [CI], 0.38-0.56; Poperative duration did not demonstrate significant association with SSI for hip arthroplasties (RR, 1.04; 95% CI, 0.79-1.37; P=.36). Knee arthroplasty surgeons with shorter median operative durations had a lower risk of SSI than surgeons with typical median operative durations (RR, 0.52; 95% CI, 0.43-0.64; Poperative durations were not associated with a higher SSI risk for knee or hip arthroplasty procedures in our analysis.

Operational Choices for Risk Aggregation in Insurance: PSDization and SCR Sensitivity

Directory of Open Access Journals (Sweden)

Xavier Milhaud

2018-04-01

Full Text Available This work addresses crucial questions about the robustness of the PSDization process for applications in insurance. PSDization refers to the process that forces a matrix to become positive semidefinite. For companies using copulas to aggregate risks in their internal model, PSDization occurs when working with correlation matrices to compute the Solvency Capital Requirement (SCR. We examine how classical operational choices concerning the modelling of risk dependence impacts the SCR during PSDization. These operations refer to the permutations of risks (or business lines in the correlation matrix, the addition of a new risk, and the introduction of confidence weights given to the correlation coefficients. The use of genetic algorithms shows that theoretically neutral transformations of the correlation matrix can surprisingly lead to significant sensitivities of the SCR (up to 6%. This highlights the need for a very strong internal control around the PSDization step.

Nuclear risk and optimal civil liability of the operator

International Nuclear Information System (INIS)

Schmitt, Andre; Spaeter, Sandrine

2007-01-01

The civil liability of nuclear operators are regulated by two sets of international Conventions. In particular, strict liability, limited financial responsibility and the obligation of providing financial guaranties are imposed to the nuclear operator by the Paris Convention and the Vienna Convention. Then national legislations are free to increase the financial cap of responsibility fixed by the international regimes. First we present the main elements of these Conventions. Then we focus on the impact of a modification in the amount of responsibility of the nuclear operator on his risk mitigation policy and on his financial condition. In particular we show that an increase of the cap beyond a given level determined by the model gives the operator some incentives to lessen the investment in prevention, contrary to what is expected. Besides, the impact of the preventive activities done by the firm on its financial constraint depends on the sensitivity of the risk distribution to the variation of the prevention level: The risk mitigation activities must be discussed with respect to the severity of the incidents and/or to the size of the nuclear park

The management of operational value at risk in banks / Ja'nel Tobias Esterhuysen

OpenAIRE

Esterhuysen, Ja'nel Tobias

2006-01-01

The measurement of operational risk has surely been one of the biggest challenges for banks worldwide. Most banks worldwide have opted for a value-at-risk (VaR) approach, based on the success achieved with market risk, to measure and quantify operational risk. The problem banks have is that they do not always find it difficult to calculate this VaR figure, as there are numerous mathematical and statistical methods and models that can calculate VaR, but they struggle to understa...

REPUTATIONAL AND OPERATIONAL RISKS IN EUROPEAN BANKS

Directory of Open Access Journals (Sweden)

Roxana HERGHILIGIU

2014-06-01

Full Text Available In the past 20 years operational and reputational risk has become more intriguing due to the public scandals of rogue tranding in banks like Barings Bank, Allied Irish Banks, Enron. The purpose of this study is to find the connections between operational risk and reputational risk. Our research shows that there may be a loss of reputation due to operational loss events. Moreover, every type of operational risk, from internal fraud, external fraud, legal and liability losses, processing errors, information security breaches, inappropriate business practice, physical security breaches conduct to a loss of reputation. The limitations of this paper are represented by the fact that do not have enough data to show the real impact of the reputation risk to the financial results of the European Banks.

The development and application of dynamic operational risk assessment in oil/gas and chemical process industry

International Nuclear Information System (INIS)

Yang Xiaole; Mannan, M. Sam

2010-01-01

A methodology of dynamic operational risk assessment (DORA) is proposed for operational risk analysis in oil/gas and chemical industries. The methodology is introduced comprehensively starting from the conceptual framework design to mathematical modeling and to decision making based on cost-benefit analysis. The probabilistic modeling part of DORA integrates stochastic modeling and process dynamics modeling to evaluate operational risk. The stochastic system-state trajectory is modeled according to the abnormal behavior or failure of each component. For each of the possible system-state trajectories, a process dynamics evaluation is carried out to check whether process variables, e.g., level, flow rate, temperature, pressure, or chemical concentration, remain in their desirable regions. Component testing/inspection intervals and repair times are critical parameters to define the system-state configuration, and play an important role for evaluating the probability of operational failure. This methodology not only provides a framework to evaluate the dynamic operational risk in oil/gas and chemical industries, but also guides the process design and further optimization. To illustrate the probabilistic study, we present a case-study of a level control in an oil/gas separator at an offshore plant.

Integrated source-risk model for radon: A definition study

International Nuclear Information System (INIS)

Laheij, G.M.H.; Aldenkamp, F.J.; Stoop, P.

1993-10-01

The purpose of a source-risk model is to support policy making on radon mitigation by comparing effects of various policy options and to enable optimization of counter measures applied to different parts of the source-risk chain. There are several advantages developing and using a source-risk model: risk calculations are standardized; the effects of measures applied to different parts of the source-risk chain can be better compared because interactions are included; and sensitivity analyses can be used to determine the most important parameters within the total source-risk chain. After an inventory of processes and sources to be included in the source-risk chain, the models presently available in the Netherlands are investigated. The models were screened for completeness, validation and operational status. The investigation made clear that, by choosing for each part of the source-risk chain the most convenient model, a source-risk chain model for radon may be realized. However, the calculation of dose out of the radon concentrations and the status of the validation of most models should be improved. Calculations with the proposed source-risk model will give estimations with a large uncertainty at the moment. For further development of the source-risk model an interaction between the source-risk model and experimental research is recommended. Organisational forms of the source-risk model are discussed. A source-risk model in which only simple models are included is also recommended. The other models are operated and administrated by the model owners. The model owners execute their models for a combination of input parameters. The output of the models is stored in a database which will be used for calculations with the source-risk model. 5 figs., 15 tabs., 7 appendices, 14 refs

Cascade reservoir flood control operation based on risk grading and warning in the Upper Yellow River

Science.gov (United States)

Xuejiao, M.; Chang, J.; Wang, Y.

2017-12-01

Flood risk reduction with non-engineering measures has become the main idea for flood management. It is more effective for flood risk management to take various non-engineering measures. In this paper, a flood control operation model for cascade reservoirs in the Upper Yellow River was proposed to lower the flood risk of the water system with multi-reservoir by combining the reservoir flood control operation (RFCO) and flood early warning together. Specifically, a discharge control chart was employed to build the joint RFCO simulation model for cascade reservoirs in the Upper Yellow River. And entropy-weighted fuzzy comprehensive evaluation method was adopted to establish a multi-factorial risk assessment model for flood warning grade. Furthermore, after determining the implementing mode of countermeasures with future inflow, an intelligent optimization algorithm was used to solve the optimization model for applicable water release scheme. In addition, another model without any countermeasure was set to be a comparative experiment. The results show that the model developed in this paper can further decrease the flood risk of water system with cascade reservoirs. It provides a new approach to flood risk management by coupling flood control operation and flood early warning of cascade reservoirs.

RESIDUAL VALUE RISK IN AUTOMOTIVE OPERATING LEASE CONTRACTS

Directory of Open Access Journals (Sweden)

Ivan Tot

2017-01-01

Full Text Available The subject of the research in this paper are automotive operating lease contracts in the Croatian business practice. The provisions of the general terms and conditions for operating lease contracts of the Croatian leasing companies are being analysed, particulary those relating to the rights and obligations of the parties to the contract after the operating lease contract was terminated and the motor vehicle returned to the lessor. The existence of three contractual models of the automotive operating lease contract in the Croatian business practice is established, which vary with regard to the assignment and the distribution of the residual value risk. Those contractual models are being compared with the two most common contractual models of automotive lease contracts in the Austrian and German business practice: the lease contract with the excess mileage adjustment and the lease contract with the terminal rent adjustment. On the basis of the results of this comparison, applicability of the legal solutions, developed in the Austrian and German jurisprudence and legal literature regarding the lease contract with the excess mileage adjustment and the lease contract with the terminal rent adjustment, to the automotive operating lease contract within the framework of Croatian law, is being examinded.

Reliability and risk evaluation of a port oil pipeline transportation system in variable operation conditions

Energy Technology Data Exchange (ETDEWEB)

Soszynska, Joanna, E-mail: joannas@am.gdynia.p [Department of Mathematics, Gdynia Maritime University, ul. Morska 83, 81-225 Gdynia (Poland)

2010-02-15

The semi-Markov model of the system operation processes is proposed and its selected characteristics are determined. A system composed on multi-state components is considered and its reliability and risk characteristics are found. Next, the joint model of the system operation process and the system multi-state reliability is applied to the reliability and risk evaluation of the port oil pipeline transportation system. The pipeline system is described and its operation process unknown parameters are identified on the basis of real statistical data. The mean values of the pipeline system operation process unconditional sojourn times in particular operation states are found and applied to determining this process transient probabilities in these states. The piping different reliability structures in various its operation states are fixed and their conditional reliability functions on the basis of data coming from experts are approximately determined. Finally, after applying earlier estimated transient probabilities and system conditional reliability functions in particular operation states the unconditional reliability function, the mean values and standard deviations of the pipeline lifetimes in particular reliability states, risk function and the moment when the risk exceeds a critical value are found.

Reliability and risk evaluation of a port oil pipeline transportation system in variable operation conditions

International Nuclear Information System (INIS)

Soszynska, Joanna

2010-01-01

The semi-Markov model of the system operation processes is proposed and its selected characteristics are determined. A system composed on multi-state components is considered and its reliability and risk characteristics are found. Next, the joint model of the system operation process and the system multi-state reliability is applied to the reliability and risk evaluation of the port oil pipeline transportation system. The pipeline system is described and its operation process unknown parameters are identified on the basis of real statistical data. The mean values of the pipeline system operation process unconditional sojourn times in particular operation states are found and applied to determining this process transient probabilities in these states. The piping different reliability structures in various its operation states are fixed and their conditional reliability functions on the basis of data coming from experts are approximately determined. Finally, after applying earlier estimated transient probabilities and system conditional reliability functions in particular operation states the unconditional reliability function, the mean values and standard deviations of the pipeline lifetimes in particular reliability states, risk function and the moment when the risk exceeds a critical value are found.

Operative Start Time Does Not Affect Post-Operative Infection Risk.

Science.gov (United States)

Guidry, Christopher A; Davies, Stephen W; Willis, Rhett N; Dietch, Zachary C; Shah, Puja M; Sawyer, Robert G

2016-10-01

Surgical care is delivered 24 h a day at most institutions. Alarmingly, some authors have found that certain operative start times are associated with greater morbidity and mortality rates. This effect has been noted in both the public and private sector. Although some of these differences may be related to process, they may also be caused by the human circadian rhythm and corresponding changes in host defenses. We hypothesized that the time of day of an operation would impact the frequency of certain post-operative outcomes significantly. Cases at a single tertiary-care center reported to the American College of Surgeons National Surgical Quality Improvement Program over a 10-year period were identified. Operative start times were divided into six-hour blocks, with 6 am to noon serving as the reference. Standard univariable techniques were applied. Multivariable logistic regression with mixed effects modeling then was used to determine the relation between operative start times and infectious outcomes, controlling for surgeon clustering. Statistical significance was set at p operative infectious complication. Seventy percent of these infections (n = 1,506) were surgical site infections. On univariable analysis considering all cases, nighttime and evening operations had higher rates of post-operative infections than those in performed during the day (9.1% from 6 am to noon; 9.7% from noon to 6 pm; 14.8% from 6 pm to midnight; and 14.4% from midnight to 6 am; p operative start time was not associated with the risk of post-operative infection, even when emergency cases were considered independently. Our data suggest that operative start times have no correlation with post-operative infectious complications. Further work is required to identify the source of the time-dependent outcome variability observed in previous studies.

Modelling the Frequency of Operational Risk Losses under the Basel II Capital Accord: A Comparative study of Poisson and Negative Binomial Distributions

OpenAIRE

Silver, Toni O.

2013-01-01

2013 dissertation for MSc in Finance and Risk Management. Selected by academic staff as a good example of a masters level dissertation. \\ud \\ud This study investigated the two major methods of modelling the frequency of\\ud operational losses under the BCBS Accord of 1998 known as Basel II Capital\\ud Accord. It compared the Poisson method of modelling the frequency of\\ud losses to that of the Negative Binomial. The frequency of operational losses\\ud was investigated using a cross section of se...

AN OPERATING MODEL FOR THE ENVIRONMENTAL RISK ASSESSMENT APPLIED TO ITALIAN SITES OF COMMUNITY IMPORTANCE: IDENTIFICATION OF POTENTIAL EFFECTS ON SOIL

Directory of Open Access Journals (Sweden)

Valentina Rastelli

2014-01-01

Full Text Available The fast development of agro-biotechnologies asks for a harmonized approach in risk analysis of GMOs releases. An Italian experts group has elaborated an operating model for the environmental risk assessment (OMERA based on the assumption that the occurring of a risk is related to the presence of four components: source, diffusion factors, dispersal routes, receptors. This model has been further developed to become a Decision Supporting System based on Fuzzy logic (FDSS to assessors and notifiers. It is a web based Questionnaire that conducts the user through a decision tree from the source to the receptors and leads to the identification and assessment of the risks. The FDSS has been tested on case studies, simulating, as source, herbicide tolerant oilseed rape and insect resistant maize. The resulting identified potential effects on soil are changes to structure and microbial diversity.

THE HANFORD WASTE FEED DELIVERY OPERATIONS RESEARCH MODEL

International Nuclear Information System (INIS)

Berry, J.; Gallaher, B.N.

2011-01-01

Washington River Protection Solutions (WRPS), the Hanford tank farm contractor, is tasked with the long term planning of the cleanup mission. Cleanup plans do not explicitly reflect the mission effects associated with tank farm operating equipment failures. EnergySolutions, a subcontractor to WRPS has developed, in conjunction with WRPS tank farms staff, an Operations Research (OR) model to assess and identify areas to improve the performance of the Waste Feed Delivery Systems. This paper provides an example of how OR modeling can be used to help identify and mitigate operational risks at the Hanford tank farms.

12 CFR 932.6 - Operations risk capital requirement.

Science.gov (United States)

2010-01-01

... operations risk capital requirement shall at all times equal 30 percent of the sum of the Bank's credit risk... percent but no less than 10 percent of the sum of the Bank's credit risk capital requirement and market... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Operations risk capital requirement. 932.6...

BARC-risk monitor- a tool for operational safety assessment in nuclear power plants

International Nuclear Information System (INIS)

Vinod, Gopika; Saraf, R.K.; Babar, A.K.; Hadap, Nikhil

2000-12-01

Probabilistic safety assessment has become a key tool as on today to identify and understand nuclear power plant vulnerabilities. As a result of the availability of these PSA studies, there is a desire to use them to enhance plant safety and to operate the nuclear stations in the most efficient manner. Risk monitor is a PC based tool, which computes the real time safety level and assists plant personnel to manage day-to-day activities. Risk monitor is a PC based user friendly software tool used for modification and re-analysis of a nuclear power plant. Operation of risk monitor is based on PSA methods for assisting in day to day applications. Risk monitoring programs can assess the risk profile and are used to optimise the operation of nuclear power plants with respect to a minimum risk level over the operating time. This report presents the background activities of risk monitor, its application areas and also gives the status of such tools in international scenarios. The software is based on the PSA model of Kaiga generating station and would be applicable to similar design configuration. (author)

Operational risk and the three lines of defence in the UK financial institutions: Is three really the magic number?

OpenAIRE

Mabwee, K.; Ring, P.; Webb, Robert

2016-01-01

There has been growing interest in the need for financial services firms to develop and implement robust systems and structures for managing operational risk. While there now appears to be some consensus in terms of definitions, quantification and modelling, firms are struggling with the qualitative side of operational risk management, particularly in relation to financial institutions’ operational risk governance, where the three-lines of defence model has become standardised. At the same ti...

Making Risk Models Operational for Situational Awareness and Decision Support

International Nuclear Information System (INIS)

Paulson, P.R.; Coles, G.; Shoemaker, S.

2012-01-01

We present CARIM, a decision support tool to aid in the evaluation of plans for converting control systems to digital instruments. The model provides the capability to optimize planning and resource allocation to reduce risk from multiple safety and economic perspectives. (author)

Innovation and employee injury risk in automotive disassembly operations

DEFF Research Database (Denmark)

Neumann, W. Patrick; Winkel, Jørgen; Palmerud, Gunnar

2018-01-01

to control injury hazards as part of the development and design process. These cases suggest how failure to manage RSI hazards in the innovation process may allow increases of injury risks that can compromise operational performance. This ‘innovation pitfall’ has implications for operator health...... increased movement speeds and reduced muscular recovery opportunities, implying increased RSI risk. This case study reveals a mechanism by which innovation may increase RSI risks for operators. Managers responsible for engineering innovation should ensure their teams have the tools and mandate necessary......Engineering innovations in car disassembly systems are studied for affects on system operators’ risk of repetitive strain injury (RSI). Objective instrumented measures of injury risk factors with synchronised video-based task analyses were used to examine changes in operators’ RSI risk during...

Study of operational risk-based configuration control

Energy Technology Data Exchange (ETDEWEB)

Vesely, W E [Science Applications International Corp., Dublin, OH (United States); Samanta, P K; Kim, I S [Brookhaven National Lab., Upton, NY (United States)

1991-08-01

This report studies aspects of a risk-based configuration control system to detect and control plant configurations from a risk perspective. Configuration control, as the term is used here, is the management of component configurations to achieve specific objectives. One important objective is to control risk and safety. Another is to operate efficiently and make effective use of available resources. PSA-based evaluations are performed to study configuration to core-melt frequency and core-melt probability for two plants. Some equipment configurations can cause large core-melt frequency and there are a number of such configurations that are not currently controlled by technical specifications. However, the expected frequency of occurrence of the impacting configurations is small and the core-melt probability contributions are also generally small. The insights from this evaluation are used to develop the framework for an effective risk-based configuration control system. The focal points of such a system and the requirements for tools development for implementing the system are defined. The requirements of risk models needed for the system, and the uses of plant-specific data are also discussed. 18 refs., 25 figs., 10 tabs.

Managing risks in the fisheries supply chain using House of Risk Framework (HOR) and Interpretive Structural Modeling (ISM)

Science.gov (United States)

Nguyen, T. L. T.; Tran, T. T.; Huynh, T. P.; Ho, T. K. D.; Le, A. T.; Do, T. K. H.

2018-04-01

One of the sectors which contributes importantly to the development of Vietnam economy is fishery industry. However, during recent year, it has been witnessed many difficulties on managing the performance of the fishery supply chain operations as a whole. In this paper, a framework for supply chain risk management (SCRM) is proposed. Initially, all the activities are mapped by using Supply Chain Operations Reference (SCOR) model. Next, the risk ranking is analyzed in House of Risk. Furthermore, interpretive structural modeling (ISM) is used to identify inter-relationships among supply chain risks and to visualize the risks according to their levels. For illustration, the model has been tested in several case studies with fishery companies in Can Tho, Mekong Delta. This study identifies 22 risk events and 20 risk agents through the supply chain. Also, the risk priority could be used for further House of Risk with proactive actions in future studies.

Assessment of risks of accidents and normal operation at nuclear power plants

International Nuclear Information System (INIS)

Savolainen, Ilkka; Vuori, Seppo.

1977-01-01

A probabilistic assessment model for the analysis of risks involved in the operation of nuclear power plants is described. With the computer code ARANO it is possible to estimate the health and economic consequences of reactor accidents both in probabilistic and deterministic sense. In addition the code is applicable to the calculation of individual and collective doses caused by the releases during normal operation. The estimation of release probabilities and magnitudes is not included in the model. (author)

Modeling the effect of operator and passenger characteristics on the fatality risk of motorcycle crashes.

Science.gov (United States)

Tavakoli Kashani, Ali; Rabieyan, Rahim; Besharati, Mohammad Mehdi

2016-01-01

In Iran more than 25% of crash fatalities belong to motorcycle operators and passengers in the recent years, from which about 20% are related to passenger fatalities. The aim of this study was to investigate the motorcycle operator and passenger characteristics as well as other contributory factors that may affect the fatality risk of motorcyclists involved in traffic crashes. To this end, motorcycle crash data between 2009 and 2012 was extracted from Iran traffic crash database and a logistic regression analysis was performed to obtain odds ratio estimates for each of the study variables. The fatality risk of motorcyclists has a direct relationship with the number of pillion passengers carried. Results also indicate that the amount of increase in the likelihood of having a fatality in a motorcycles crash is considerably higher when the operator is accompanied by a male passenger of the same age. Furthermore, results showed that if the crash is occurred in the darkness, on curves, in rural areas and on highways, then the crash would be more likely to be fatal. Moreover, the head-on collisions, older operators, unlicensed operators and not using a safety helmet were found to increase the likelihood of a fatality in a motorcycle crash. Preventative measures such as, imposing stricter rules regarding safety helmet usage and confining the number of pillion passengers to one, might be implemented to reduce the fatality risk in motorcycle crashes. In addition, more appropriate infrastructures for penalizing offending motorcyclists could also reduce the frequency of law violations such as not wearing helmet or riding without motorcycle license, which in turn, would result into a reduction in the fatality risk of motorcycle crashes. © 2016 KUMS, All rights reserved.

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...

Understanding operational risk capital approximations: First and second orders

Directory of Open Access Journals (Sweden)

Gareth W. Peters

2013-07-01

Full Text Available We set the context for capital approximation within the framework of the Basel II / III regulatory capital accords. This is particularly topical as the Basel III accord is shortly due to take effect. In this regard, we provide a summary of the role of capital adequacy in the new accord, highlighting along the way the significant loss events that have been attributed to the Operational Risk class that was introduced in the Basel II and III accords. Then we provide a semi-tutorial discussion on the modelling aspects of capital estimation under a Loss Distributional Approach (LDA. Our emphasis is to focuss on the important loss processes with regard to those that contribute most to capital, the so called “high consequence, low frequency" loss processes. This leads us to provide a tutorial overview of heavy tailed loss process modelling in OpRisk under Basel III, with discussion on the implications of such tail assumptions for the severity model in an LDA structure. This provides practitioners with a clear understanding of the features that they may wish to consider when developing OpRisk severity models in practice. From this discussion on heavy tailed severity models, we then develop an understanding of the impact such models have on the right tail asymptotics of the compound loss process and we provide detailed presentation of what are known as first and second order tail approximations for the resulting heavy tailed loss process. From this we develop a tutorial on three key families of risk measures and their equivalent second order asymptotic approximations: Value-at-Risk (Basel III industry standard; Expected Shortfall (ES and the Spectral Risk Measure. These then form the capital approximations. We then provide a few example case studies to illustrate the accuracy of these asymptotic captial approximations, the rate of the convergence of the assymptotic result as a function of the LDA frequency and severity model parameters, the sensitivity

How Can Every Organization Manage the Operational Risk?

Directory of Open Access Journals (Sweden)

Ferry Jie

2002-03-01

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

Risk analysis for autonomous underwater vehicle operations in extreme environments.

Science.gov (United States)

Brito, Mario Paulo; Griffiths, Gwyn; Challenor, Peter

2010-12-01

Autonomous underwater vehicles (AUVs) are used increasingly to explore hazardous marine environments. Risk assessment for such complex systems is based on subjective judgment and expert knowledge as much as on hard statistics. Here, we describe the use of a risk management process tailored to AUV operations, the implementation of which requires the elicitation of expert judgment. We conducted a formal judgment elicitation process where eight world experts in AUV design and operation were asked to assign a probability of AUV loss given the emergence of each fault or incident from the vehicle's life history of 63 faults and incidents. After discussing methods of aggregation and analysis, we show how the aggregated risk estimates obtained from the expert judgments were used to create a risk model. To estimate AUV survival with mission distance, we adopted a statistical survival function based on the nonparametric Kaplan-Meier estimator. We present theoretical formulations for the estimator, its variance, and confidence limits. We also present a numerical example where the approach is applied to estimate the probability that the Autosub3 AUV would survive a set of missions under Pine Island Glacier, Antarctica in January-March 2009. © 2010 Society for Risk Analysis.

Improving Operational Risk Management Using Business Performance Management Technologies

OpenAIRE

Bram Pieket Weeserik; Marco Spruit

2018-01-01

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

Methodology for Designing Operational Banking Risks Monitoring System

Science.gov (United States)

Kostjunina, T. N.

2018-05-01

The research looks at principles of designing an information system for monitoring operational banking risks. A proposed design methodology enables one to automate processes of collecting data on information security incidents in the banking network, serving as the basis for an integrated approach to the creation of an operational risk management system. The system can operate remotely ensuring tracking and forecasting of various operational events in the bank network. A structure of a content management system is described.

Operational Risk Defined Through a Complex Operating Environment

Science.gov (United States)

2015-02-26

analysis . But the report noted that “CJTF-HOA’s presence in Africa offers benefits such as its ability to respond to contingencies, provide forces for...18 Analysis ...Development JOPP Joint Operations Planning Process NGO Non-Governmental Organization PRC Profitable Risk Control SWOT Strengths, Weaknesses

Persistent hemifacial spasm after microvascular decompression: a risk assessment model.

Science.gov (United States)

Shah, Aalap; Horowitz, Michael

2017-06-01

Microvascular decompression (MVD) for hemifacial spasm (HFS) provides resolution of disabling symptoms such as eyelid twitching and muscle contractions of the entire hemiface. The primary aim of this study was to evaluate the predictive value of patient demographics and spasm characteristics on long-term outcomes, with or without intraoperative lateral spread response (LSR) as an additional variable in a risk assessment model. A retrospective study was undertaken to evaluate the associations of pre-operative patient characteristics, as well as intraoperative LSR and need for a staged procedure on the presence of persistent or recurrent HFS at the time of hospital discharge and at follow-up. A risk assessment model was constructed with the inclusion of six clinically or statistically significant variables from the univariate analyses. A receiving operator characteristic curve was generated, and area under the curve was calculated to determine the strength of the predictive model. A risk assessment model was first created consisting of significant pre-operative variables (Model 1) (age >50, female gender, history of botulinum toxin use, platysma muscle involvement). This model demonstrated borderline predictive value for persistent spasm at discharge (AUC .60; p=.045) and fair predictive value at follow-up (AUC .75; p=.001). Intraoperative variables (e.g. LSR persistence) demonstrated little additive value (Model 2) (AUC .67). Patients with a higher risk score (three or greater) demonstrated greater odds of persistent HFS at the time of discharge (OR 1.5 [95%CI 1.16-1.97]; p=.035), as well as greater odds of persistent or recurrent spasm at the time of follow-up (OR 3.0 [95%CI 1.52-5.95]; p=.002) Conclusions: A risk assessment model consisting of pre-operative clinical characteristics is useful in prognosticating HFS persistence at follow-up.

Mastery of risks and operating safety, risks and efficiencies

International Nuclear Information System (INIS)

2006-01-01

A proper management of ones risks consists in acting to exert prevention and protection capacities against the negative consequences of an event, but also by committing oneself into an offensive approach allowing to improve efficiency, quality and availability. Safety and efficiencies are mutual reinforcing goals aiming at ensuring the perenniality of industries and services. The implementation of a risk management approach in an industrial environment allows to reach a better reactiveness and to increase the efficiency of a system by the mastery of organization and processes. The activities in concern are those of industries and services: transports, energy and environment, automotive industry, petrochemistry, chemistry, food, space, health, defense industries, telecommunication, mining industry, information systems, textile industry, finances.. The topics approached during this meeting treat of: the relevance of risk-abatement resources with respect to risks criticality; the consistent management of uncertainties with respect to stakes; the mastery of components aging and the expression of aging-dependent availability, maintenance and safety policies; the expression of obsolescence-related renewing policies; the operating safety tools and methods applied to complex and computerized-controlled systems; the integration of social, organizational and human factors in technical decisions and companies management; transverse and global risk analysis and decision-aid approaches; the vigilance culture; crisis anticipation and management; the experience feedback on technical and organisational aspects; efficiency and risk mastery indicators; cost/benefit approach in risk management, and economic intelligence approaches. Nineteen presentations have been selected which deal with the mastery of risks and the operating safety at nuclear facilities. (J.S.)

Incorporation of human factors into ship collision risk models focusing on human centred design aspects

International Nuclear Information System (INIS)

Sotiralis, P.; Ventikos, N.P.; Hamann, R.; Golyshev, P.; Teixeira, A.P.

2016-01-01

This paper presents an approach that more adequately incorporates human factor considerations into quantitative risk analysis of ship operation. The focus is on the collision accident category, which is one of the main risk contributors in ship operation. The approach is based on the development of a Bayesian Network (BN) model that integrates elements from the Technique for Retrospective and Predictive Analysis of Cognitive Errors (TRACEr) and focuses on the calculation of the collision accident probability due to human error. The model takes into account the human performance in normal, abnormal and critical operational conditions and implements specific tasks derived from the analysis of the task errors leading to the collision accident category. A sensitivity analysis is performed to identify the most important contributors to human performance and ship collision. Finally, the model developed is applied to assess the collision risk of a feeder operating in Dover strait using the collision probability estimated by the developed BN model and an Event tree model for calculation of human, economic and environmental risks. - Highlights: • A collision risk model for the incorporation of human factors into quantitative risk analysis is proposed. • The model takes into account the human performance in different operational conditions leading to the collision. • The most important contributors to human performance and ship collision are identified. • The model developed is applied to assess the collision risk of a feeder operating in Dover strait.

Managing Risks in Dry Port Operations

OpenAIRE

Ciortescu Cezar-Gabriel; Pãvãla?cu Narcis Sebastian

2012-01-01

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

GLObal RIsk MANagement system for plant operations GLORIMAN

International Nuclear Information System (INIS)

Silverman, Eugene B.

2004-01-01

Considerable effort has been expended by nuclear power plants in the preparation of their Independent Plant Evaluation (IPE) programs. The result of these projects is the generation of very useful information concerning plant operations, states, availability and risk. The potential application of this information is often unrealized due to the unwieldy form of the data as reported in the IPE. Plant personnel would benefit greatly from quick access to risk information as a means of supporting day-to-day decisions, but the information exists only in a difficult to understand and inaccessible form. There is a need to translate the costs invested in Probabilistic Risk Assessment (PRA) projects into a useable tool for plant personnel. This paper describes a software tool developed by ARD Corporation to be used by plants to assist in determining the operational risks and benefits associated with modifying the plant state during normal and off-normal operations for performing maintenance. This tool integrates a relational database with an easy-to-use graphical user interface and several unique software features. The result is a responsive, easy-to-understand tool that integrates an organization's PRA/IPE into the operational and maintenance needs of the station. The Global Risk Management System is designed to allow the user to evaluate the risk associated with current and proposed plant states. The impact of changes in plant configuration, operational modes and equipment availability are assessed from a risk management perspective, but displayed in an easy-to-understand form for personnel not familiar with risk methodology. Additionally, pipe and instrumentation drawings can be retrieved by the user and displayed as a reference tool. (author)

Designing and operating infrastructure for nonstationary flood risk management

Science.gov (United States)

Doss-Gollin, J.; Farnham, D. J.; Lall, U.

2017-12-01

Climate exhibits organized low-frequency and regime-like variability at multiple time scales, causing the risk associated with climate extremes such as floods and droughts to vary in time. Despite broad recognition of this nonstationarity, there has been little theoretical development of ideas for the design and operation of infrastructure considering the regime structure of such changes and their potential predictability. We use paleo streamflow reconstructions to illustrate an approach to the design and operation of infrastructure to address nonstationary flood and drought risk. Specifically, we consider the tradeoff between flood control and conservation storage, and develop design and operation principles for allocating these storage volumes considering both a m-year project planning period and a n-year historical sampling record. As n increases, the potential uncertainty in probabilistic estimates of the return periods associated with the T-year extreme event decreases. As the duration m of the future operation period decreases, the uncertainty associated with the occurrence of the T-year event also increases. Finally, given the quasi-periodic nature of the system it may be possible to offer probabilistic predictions of the conditions in the m-year future period, especially if m is small. In the context of such predictions, one can consider that a m-year prediction may have lower bias, but higher variance, than would be associated with using a stationary estimate from the preceding n years. This bias-variance trade-off, and the potential for considering risk management for multiple values of m, provides an interesting system design challenge. We use wavelet-based simulation models in a Bayesian framework to estimate these biases and uncertainty distributions and devise a risk-optimized decision rule for the allocation of flood and conservation storage. The associated theoretical development also provides a methodology for the sizing of storage for new

Analysis of Advantages and Disadvantages of Current Operational Risk Management Models (AS/NZS 4360, AS/NZS ISO 9000, AS/NZS ISO 14000, AS/NZS 4801, AS/NZS 3806, AS/NZS 4444

Directory of Open Access Journals (Sweden)

Ferry Jie

2002-09-01

Full Text Available This paper will describe about the analysis of advantages and disadvantages of current operational risk management models (AS/NZS 4360: Risk Management, AS/NZS 4801: Occupational Health and Safety Management Systems, AS/NZS ISO 9001: Quality Management System, AS/NZS ISO 14001: Environment Management System, AS/NZS 3806: Compliance Management System, AS/NZS 4444: Information Security Management  based on expert experiences and extracting the literature review. The advantages of most current models are widely adopted by industries of various of sizes as the basis for their operational risk management. In addition, they may help the organizations to improve the operations and competitiveness. However, there are some disadvantages of most current models such as the models are very general (guidance only, not specific to cover particular risks of industries.  And they don’t have the specific tools and processes.  In addition, they may not be able to integrate all elements of the management systems such as safety, health, environment, quality, security, and compliance. 

The Abdominal Aortic Aneurysm Statistically Corrected Operative Risk Evaluation (AAA SCORE) for predicting mortality after open and endovascular interventions.

Science.gov (United States)

Ambler, Graeme K; Gohel, Manjit S; Mitchell, David C; Loftus, Ian M; Boyle, Jonathan R

2015-01-01

Accurate adjustment of surgical outcome data for risk is vital in an era of surgeon-level reporting. Current risk prediction models for abdominal aortic aneurysm (AAA) repair are suboptimal. We aimed to develop a reliable risk model for in-hospital mortality after intervention for AAA, using rigorous contemporary statistical techniques to handle missing data. Using data collected during a 15-month period in the United Kingdom National Vascular Database, we applied multiple imputation methodology together with stepwise model selection to generate preoperative and perioperative models of in-hospital mortality after AAA repair, using two thirds of the available data. Model performance was then assessed on the remaining third of the data by receiver operating characteristic curve analysis and compared with existing risk prediction models. Model calibration was assessed by Hosmer-Lemeshow analysis. A total of 8088 AAA repair operations were recorded in the National Vascular Database during the study period, of which 5870 (72.6%) were elective procedures. Both preoperative and perioperative models showed excellent discrimination, with areas under the receiver operating characteristic curve of .89 and .92, respectively. This was significantly better than any of the existing models (area under the receiver operating characteristic curve for best comparator model, .84 and .88; P AAA repair. These models were carefully developed with rigorous statistical methodology and significantly outperform existing methods for both elective cases and overall AAA mortality. These models will be invaluable for both preoperative patient counseling and accurate risk adjustment of published outcome data. Copyright © 2015 Society for Vascular Surgery. Published by Elsevier Inc. All rights reserved.

A proposed operational risk management framework for small and medium enterprises

Directory of Open Access Journals (Sweden)

Micheline J. Naude

2017-12-01

Full Text Available Background: The gap between small and medium-sized enterprises (SMEs and large businesses that perform risk assessment is significant. SMEs continuously face many operational risks and uncertainties in their daily operations, and these risks threaten to reduce productivity, increase costs and reduce profits. Aim: The purpose of this article was to develop an operational risk management framework that SMEs can use to identify and analyse risks in their operations and take corrective actions to mitigate these risks. Setting: Small and medium-sized enterprises in South Africa do not view risk management as a key component of organisational success, despite evidence that businesses that adopt risk management strategies are more likely to survive and grow. Methods: The article is exploratory in nature, and a conceptual analysis approach was used to formulate the framework. This study reviewed relevant literature sources on risk published between 2002 and 2017. Results: The four process steps of risk management were used as a reference point and form the foundation for the operational risk management framework. The categories of operational; marketing; technical and financial risks were identified from a review of available literature on risk management. Conclusion: There is a dearth of research that deals with operational risk management frameworks for SMEs. The expected contribution of this article, therefore, is twofold: firstly, it is envisaged that managers or owners of SMEs could use the proposed framework as a tool to appraise and minimise their operational risks; secondly, it will add to the current body of knowledge on risk appraisal for SMEs.

Evaluation of risk management status for Croatian logistic operators

Directory of Open Access Journals (Sweden)

Diana BOŽIĆ

2010-01-01

Full Text Available Understanding organisational risks makes possible to control them and to change them into organisational strengths. Being known as “measure of uncertainty” in the business process, the risk is the uncertainty of achieving the organizational objectives. It may involve positive or negative consequences. There is a level of uncertainty in every supply chain while operating transportation and warehousing, positioning on the market, developing customer support, reducing cycle times or cutting costs. Therefore, the risk assessment should be one of the main tasks for any supply chain management team. It is required to develop formal risk assessment procedures, to identify the potential impacts to the supply chain operations and to develop a set of contingency plans to mitigate risks. This paper deals with supply chain risk assessment methodology, outlining the present risk management status of Croatian logistic operators.

Operational Risk Assesement Tools for Quality Management in Banking Services

OpenAIRE

Dima, Alina Mihaela

2009-01-01

Among all the different types of risks that can affect financial companies, the operational risk can be the most devastating and the most difficult to anticipate. The management of operational risk is a key component of financial and risk management discipline that drives net income results, 2capital management and customer satisfaction. The present paper contains a statistical analysis in order to determine the number of operational errors as quality based services determinants, depending on...

A reliability-risk modelling of nuclear rad-waste facilities

International Nuclear Information System (INIS)

Lehmann, P.H.; El-Bassioni, A.A.

1975-01-01

Rad-waste disposal systems of nuclear power sites are designed and operated to collect, delay, contain, and concentrate radioactive wastes from reactor plant processes such that on-site and off-site exposures to radiation are well below permissible limits. To assist the designer in achieving minimum release/exposure goals, a computerized reliability-risk model has been developed to simulate the rad-waste system. The objectives of the model are to furnish a practical tool for quantifying the effects of changes in system configuration, operation, and equipment, and for the identification of weak segments in the system design. Primarily, the model comprises a marriage of system analysis, reliability analysis, and release-risk assessment. Provisions have been included in the model to permit the optimization of the system design subject to constraints on cost and rad-releases. The system analysis phase involves the preparation of a physical and functional description of the rad-waste facility accompanied by the formation of a system tree diagram. The reliability analysis phase embodies the formulation of appropriate reliability models and the collection of model parameters. Release-risk assessment constitutes the analytical basis whereupon further system and reliability analyses may be warranted. Release-risk represents the potential for release of radioactivity and is defined as the product of an element's unreliability at time, t, and the radioactivity available for release in time interval, Δt. A computer code (RARISK) has been written to simulate the tree diagram of the rad-waste system. Reliability and release-risk results have been generated for cases which examined the process flow paths of typical rad-waste systems, the effects of repair and standby, the variations of equipment failure and repair rates, and changes in system configurations. The essential feature of this model is that a complex system like the rad-waste facility can be easily decomposed into its

Mastery of risks and operational safety, risks and opportunities

International Nuclear Information System (INIS)

2004-01-01

Creating socially useful richness is certainly the prime reason for companies to exist. Reaching this always moving target leads to seize opportunities and to take risks at the same time. For companies, risks and opportunities are two indissociable factors. Any decision making has to deal with an uncertain environment with random events of technological, economical, biological, human, environmental or natural origin. Because of the fear of uncertainty, risk acts as a brake to initiatives. In front of this problem, companies have to adopt a prevention policy based on a global and systemic approach, by identifying, evaluating, quantifying, sorting, mastering and managing unwanted events and by communicating about the way to treat them. In front of uncertainties, the operational safety, thanks to its methods and tools, supplies an incomparable contribution in the form of an help to any decision made with uncertainties. Operational safety contributes to the evaluation of costs and makes more realistic the economical estimations by taking into account the foreseeable and unforeseeable risks. The mastery of unwanted events, of their stakes and uncertainties, allows companies to carry out their projects in non-determined contexts and in a competitive environment. This colloquium concerns all socio-economical actors: industrialists, investors, decision makers, university and laboratory staffs, etc., who need a better evaluation of risks for a better mastery of their decisions in all sectors of activity. Seventeen papers of this conference, dealing with safety analysis and risk assessment at nuclear facilities and at other energy-related facilities, have been selected for Inis. (J.S.)

Risk-Based Two-Stage Stochastic Optimization Problem of Micro-Grid Operation with Renewables and Incentive-Based Demand Response Programs

Directory of Open Access Journals (Sweden)

Pouria Sheikhahmadi

2018-03-01

Full Text Available The operation problem of a micro-grid (MG in grid-connected mode is an optimization one in which the main objective of the MG operator (MGO is to minimize the operation cost with optimal scheduling of resources and optimal trading energy with the main grid. The MGO can use incentive-based demand response programs (DRPs to pay an incentive to the consumers to change their demands in the peak hours. Moreover, the MGO forecasts the output power of renewable energy resources (RERs and models their uncertainties in its problem. In this paper, the operation problem of an MGO is modeled as a risk-based two-stage stochastic optimization problem. To model the uncertainties of RERs, two-stage stochastic programming is considered and conditional value at risk (CVaR index is used to manage the MGO’s risk-level. Moreover, the non-linear economic models of incentive-based DRPs are used by the MGO to change the peak load. The numerical studies are done to investigate the effect of incentive-based DRPs on the operation problem of the MGO. Moreover, to show the effect of the risk-averse parameter on MGO decisions, a sensitivity analysis is carried out.

Operational Risk Management and Military Aviation Safety

National Research Council Canada - National Science Library

Ashley, Park

1999-01-01

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

Enterprise risk management in international construction operations

CERN Document Server

Zhao, Xianbo; Low, Sui Pheng

2015-01-01

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

Information risk and security modeling

Science.gov (United States)

Zivic, Predrag

2005-03-01

This research paper presentation will feature current frameworks to addressing risk and security modeling and metrics. The paper will analyze technical level risk and security metrics of Common Criteria/ISO15408, Centre for Internet Security guidelines, NSA configuration guidelines and metrics used at this level. Information IT operational standards view on security metrics such as GMITS/ISO13335, ITIL/ITMS and architectural guidelines such as ISO7498-2 will be explained. Business process level standards such as ISO17799, COSO and CobiT will be presented with their control approach to security metrics. Top level, the maturity standards such as SSE-CMM/ISO21827, NSA Infosec Assessment and CobiT will be explored and reviewed. For each defined level of security metrics the research presentation will explore the appropriate usage of these standards. The paper will discuss standards approaches to conducting the risk and security metrics. The research findings will demonstrate the need for common baseline for both risk and security metrics. This paper will show the relation between the attribute based common baseline and corporate assets and controls for risk and security metrics. IT will be shown that such approach spans over all mentioned standards. The proposed approach 3D visual presentation and development of the Information Security Model will be analyzed and postulated. Presentation will clearly demonstrate the benefits of proposed attributes based approach and defined risk and security space for modeling and measuring.

Prior inpatient admission increases the risk of post-operative infection in hepatobiliary and pancreatic surgery.

Science.gov (United States)

Dong, Zachary M; Chidi, Alexis P; Goswami, Julie; Han, Katrina; Simmons, Richard L; Rosengart, Matthew R; Tsung, Allan

2015-12-01

Hepatobiliary and pancreatic (HPB) operations have a high incidence of post-operative nosocomial infections. The aim of the present study was to determine whether hospitalization up to 1 year before HPB surgery is associated with an increased risk of post-operative infection, surgical-site infection (SSI) and infection resistant to surgical chemoprophylaxis. A retrospective cohort study of patients undergoing HPB surgeries between January 2008 and June 2013 was conducted. A multivariable logistic regression model was used for controlling for potential confounders to determine the association between pre-operative admission and post-operative infection. Of the 1384 patients who met eligibility criteria, 127 (9.18%) experienced a post-operative infection. Pre-operative hospitalization was independently associated with an increased risk of a post-operative infection [adjusted odds ratio (aOR): 1.61, 95% confidence interval [CI]: 1.06-2.46] and SSI (aOR: 1.79, 95% CI: 1.07-2.97). Pre-operative hospitalization was also associated with an increased risk of post-operative infections resistant to standard pre-operative antibiotics (OR: 2.64, 95% CI: 1.06-6.59) and an increased risk of resistant SSIs (OR: 3.99, 95% CI: 1.25-12.73). Pre-operative hospitalization is associated with an increased incidence of post-operative infections, often with organisms that are resistant to surgical chemoprophylaxis. Patients hospitalized up to 1 year before HPB surgery may benefit from extended spectrum chemoprophylaxis. © 2015 International Hepato-Pancreato-Biliary Association.

Assessing reservoir operations risk under climate change

Science.gov (United States)

Brekke, L.D.; Maurer, E.P.; Anderson, J.D.; Dettinger, M.D.; Townsley, E.S.; Harrison, A.; Pruitt, T.

2009-01-01

Risk-based planning offers a robust way to identify strategies that permit adaptive water resources management under climate change. This paper presents a flexible methodology for conducting climate change risk assessments involving reservoir operations. Decision makers can apply this methodology to their systems by selecting future periods and risk metrics relevant to their planning questions and by collectively evaluating system impacts relative to an ensemble of climate projection scenarios (weighted or not). This paper shows multiple applications of this methodology in a case study involving California's Central Valley Project and State Water Project systems. Multiple applications were conducted to show how choices made in conducting the risk assessment, choices known as analytical design decisions, can affect assessed risk. Specifically, risk was reanalyzed for every choice combination of two design decisions: (1) whether to assume climate change will influence flood-control constraints on water supply operations (and how), and (2) whether to weight climate change scenarios (and how). Results show that assessed risk would motivate different planning pathways depending on decision-maker attitudes toward risk (e.g., risk neutral versus risk averse). Results also show that assessed risk at a given risk attitude is sensitive to the analytical design choices listed above, with the choice of whether to adjust flood-control rules under climate change having considerably more influence than the choice on whether to weight climate scenarios. Copyright 2009 by the American Geophysical Union.

Risk Perception and Communication in Commercial Reusable Launch Vehicle Operations

Science.gov (United States)

Hardy, Terry L.

2005-12-01

A number of inventors and entrepreneurs are currently attempting to develop and commercially operate reusable launch vehicles to carry voluntary participants into space. The operation of these launch vehicles, however, produces safety risks to the crew, to the space flight participants, and to the uninvolved public. Risk communication therefore becomes increasingly important to assure that those involved in the flight understand the risk and that those who are not directly involved understand the personal impact of RLV operations on their lives. Those involved in the launch vehicle flight may perceive risk differently from those non-participants, and these differences in perception must be understood to effectively communicate this risk. This paper summarizes existing research in risk perception and communication and applies that research to commercial reusable launch vehicle operations. Risk communication is discussed in the context of requirements of United States law for informed consent from any space flight participants on reusable suborbital launch vehicles.

Risk-based decision analysis for groundwater operable units

International Nuclear Information System (INIS)

Chiaramonte, G.R.

1995-01-01

This document proposes a streamlined approach and methodology for performing risk assessment in support of interim remedial measure (IRM) decisions involving the remediation of contaminated groundwater on the Hanford Site. This methodology, referred to as ''risk-based decision analysis,'' also supports the specification of target cleanup volumes and provides a basis for design and operation of the groundwater remedies. The risk-based decision analysis can be completed within a short time frame and concisely documented. The risk-based decision analysis is more versatile than the qualitative risk assessment (QRA), because it not only supports the need for IRMs, but also provides criteria for defining the success of the IRMs and provides the risk-basis for decisions on final remedies. For these reasons, it is proposed that, for groundwater operable units, the risk-based decision analysis should replace the more elaborate, costly, and time-consuming QRA

Operative Duration and Risk of Surgical Site Infection in Neurosurgery.

Science.gov (United States)

Bekelis, Kimon; Coy, Shannon; Simmons, Nathan

2016-10-01

The association of surgical duration with the risk of surgical site infection (SSI) has not been quantified in neurosurgery. We investigated the association of operative duration in neurosurgical procedures with the incidence of SSI. We performed a retrospective cohort study involving patients who underwent neurosurgical procedures from 2005 to 2012 and were registered in the American College of Surgeons National Quality Improvement Project registry. To control for confounding, we used multivariable regression models and propensity score conditioning. During the study period there were 94,744 patients who underwent a neurosurgical procedure and met the inclusion criteria. Of these patients, 4.1% developed a postoperative SSI within 30 days. Multivariable logistic regression showed an association between longer operative duration with higher incidence of SSI (odds ratio [OR], 1.18; 95% confidence interval [CI], 1.16-1.20). Compared with procedures of moderate duration (third quintile, 40th-60th percentile), patients undergoing the longest procedures (>80th percentile) had higher odds (OR, 2.07; 95% CI, 1.86-2.31) of developing SSI. The shortest procedures (operative duration was associated with increased incidence of SSI for neurosurgical procedures. These results can be used by neurosurgeons to inform operative management and to stratify patients with regard to SSI risk. Copyright © 2016 Elsevier Inc. All rights reserved.

Operator spin foam models

International Nuclear Information System (INIS)

Bahr, Benjamin; Hellmann, Frank; Kaminski, Wojciech; Kisielowski, Marcin; Lewandowski, Jerzy

2011-01-01

The goal of this paper is to introduce a systematic approach to spin foams. We define operator spin foams, that is foams labelled by group representations and operators, as our main tool. A set of moves we define in the set of the operator spin foams (among other operations) allows us to split the faces and the edges of the foams. We assign to each operator spin foam a contracted operator, by using the contractions at the vertices and suitably adjusted face amplitudes. The emergence of the face amplitudes is the consequence of assuming the invariance of the contracted operator with respect to the moves. Next, we define spin foam models and consider the class of models assumed to be symmetric with respect to the moves we have introduced, and assuming their partition functions (state sums) are defined by the contracted operators. Briefly speaking, those operator spin foam models are invariant with respect to the cellular decomposition, and are sensitive only to the topology and colouring of the foam. Imposing an extra symmetry leads to a family we call natural operator spin foam models. This symmetry, combined with assumed invariance with respect to the edge splitting move, determines a complete characterization of a general natural model. It can be obtained by applying arbitrary (quantum) constraints on an arbitrary BF spin foam model. In particular, imposing suitable constraints on a spin(4) BF spin foam model is exactly the way we tend to view 4D quantum gravity, starting with the BC model and continuing with the Engle-Pereira-Rovelli-Livine (EPRL) or Freidel-Krasnov (FK) models. That makes our framework directly applicable to those models. Specifically, our operator spin foam framework can be translated into the language of spin foams and partition functions. Among our natural spin foam models there are the BF spin foam model, the BC model, and a model corresponding to the EPRL intertwiners. Our operator spin foam framework can also be used for more general spin

Methodology for risk assessment and reliability applied for pipeline engineering design and industrial valves operation

Energy Technology Data Exchange (ETDEWEB)

Silveira, Dierci [Universidade Federal Fluminense (UFF), Volta Redonda, RJ (Brazil). Escola de Engenharia Industrial e Metalurgia. Lab. de Sistemas de Producao e Petroleo e Gas], e-mail: dsilveira@metal.eeimvr.uff.br; Batista, Fabiano [CICERO, Rio das Ostras, RJ (Brazil)

2009-07-01

Two kinds of situations may be distinguished for estimating the operating reliability when maneuvering industrial valves and the probability of undesired events in pipelines and industrial plants: situations in which the risk is identified in repetitive cycles of operations and situations in which there is a permanent hazard due to project configurations introduced by decisions during the engineering design definition stage. The estimation of reliability based on the influence of design options requires the choice of a numerical index, which may include a composite of human operating parameters based on biomechanics and ergonomics data. We first consider the design conditions under which the plant or pipeline operator reliability concepts can be applied when operating industrial valves, and then describe in details the ergonomics and biomechanics risks that would lend itself to engineering design database development and human reliability modeling and assessment. This engineering design database development and reliability modeling is based on a group of engineering design and biomechanics parameters likely to lead to over-exertion forces and working postures, which are themselves associated with the functioning of a particular plant or pipeline. This approach to construct based on ergonomics and biomechanics for a more common industrial valve positioning in the plant layout is proposed through the development of a methodology to assess physical efforts and operator reach, combining various elementary operations situations. These procedures can be combined with the genetic algorithm modeling and four elements of the man-machine systems: the individual, the task, the machinery and the environment. The proposed methodology should be viewed not as competing to traditional reliability and risk assessment bur rather as complementary, since it provides parameters related to physical efforts values for valves operation and workspace design and usability. (author)

Operation and evaluation of online risk communication assistant tool, 'ORCAT'

International Nuclear Information System (INIS)

Kimura, Hiroshi; Katsumura, Soichiro; Furuta, Kazuo; Matsumura, Kenichi; Tanaka, Hiroshi

2005-01-01

Risk communication about the high-level radioactive waste (HLW) disposal is necessary for public acceptance of HLW disposal program. Online Risk Communication Assistant Tool (ORCAT) system is developed in order to support risk communication for high-level radioactive disposal on World Wide Web. We have carried out two test operations of ORCAT system. First test operation is carried out from Jun. 26 to Feb. 13, 2003. After the first operation, we improved the ORCAT system, and carried out the second test operation from Dec. 4 to 22, 2004. In the second test operation, 20 participants replayed the questionnaire about usability of ORCAT system. In consequence, we found that the ORCAT system remains what need to refine, but is evaluated useful to the risk communication about the HLW disposal. (author)

Mandatory Disclosure and Operational Risk: Evidence from Hedge Fund Registration

OpenAIRE

Stephen Brown; William Goetzmann; Bing Liang; Christopher Schwarz

2006-01-01

Mandatory disclosure is a regulatory tool intended to allow market participants to assess operational risk. We examine the value of disclosure through the controversial SEC requirement, since overturned, which required major hedge funds to register as investment advisors and file Form ADV disclosures. Leverage and ownership structures suggest that lenders and equity investors were already aware of operational risk. However, operational risk does not mediate flow-performance relationships. Inv...

ANALYSIS AND OPERATING LEVERAGE RELATIONSHIP WITH THE OPERATIONAL RISK CUBAN ENTERPRISES

Directory of Open Access Journals (Sweden)

María E. González-del Foyo

2016-01-01

Full Text Available The analysis of the equilibrium point is important in the planning process, because the relation costvolume-benefit may become significantly influenced by the investment of the company in fixed assets, and the changes in the ratio of fixed assets in relation to variable assets are determined at the moment, that the finantial plans are established. Together with the analysis of the equilibrium point, the degree of leverage is calculated and interpreted and its implicatiosn for the operative risk of an company is studied. The study of the degree of leverage and its interpretation from the operative risk point of view to which an company thats operate in different conditions and economies is faced, with is the basic objetive of the present paper and is of the highest importance for the decision taking of the management, being this a phenomenon present in all economic organizations. 

Risk-Aware Planetary Rover Operation: Autonomous Terrain Classification and Path Planning

Science.gov (United States)

Ono, Masahiro; Fuchs, Thoams J.; Steffy, Amanda; Maimone, Mark; Yen, Jeng

2015-01-01

Identifying and avoiding terrain hazards (e.g., soft soil and pointy embedded rocks) are crucial for the safety of planetary rovers. This paper presents a newly developed groundbased Mars rover operation tool that mitigates risks from terrain by automatically identifying hazards on the terrain, evaluating their risks, and suggesting operators safe paths options that avoids potential risks while achieving specified goals. The tool will bring benefits to rover operations by reducing operation cost, by reducing cognitive load of rover operators, by preventing human errors, and most importantly, by significantly reducing the risk of the loss of rovers.

A model-based risk management framework

Energy Technology Data Exchange (ETDEWEB)

Gran, Bjoern Axel; Fredriksen, Rune

2002-08-15

The ongoing research activity addresses these issues through two co-operative activities. The first is the IST funded research project CORAS, where Institutt for energiteknikk takes part as responsible for the work package for Risk Analysis. The main objective of the CORAS project is to develop a framework to support risk assessment of security critical systems. The second, called the Halden Open Dependability Demonstrator (HODD), is established in cooperation between Oestfold University College, local companies and HRP. The objective of HODD is to provide an open-source test bed for testing, teaching and learning about risk analysis methods, risk analysis tools, and fault tolerance techniques. The Inverted Pendulum Control System (IPCON), which main task is to keep a pendulum balanced and controlled, is the first system that has been established. In order to make risk assessment one need to know what a system does, or is intended to do. Furthermore, the risk assessment requires correct descriptions of the system, its context and all relevant features. A basic assumption is that a precise model of this knowledge, based on formal or semi-formal descriptions, such as UML, will facilitate a systematic risk assessment. It is also necessary to have a framework to integrate the different risk assessment methods. The experiences so far support this hypothesis. This report presents CORAS and the CORAS model-based risk management framework, including a preliminary guideline for model-based risk assessment. The CORAS framework for model-based risk analysis offers a structured and systematic approach to identify and assess security issues of ICT systems. From the initial assessment of IPCON, we also believe that the framework is applicable in a safety context. Further work on IPCON, as well as the experiences from the CORAS trials, will provide insight and feedback for further improvements. (Author)

Operational Risk Management in Financial Institutions: A Literature Review

Directory of Open Access Journals (Sweden)

Suren Pakhchanyan

2016-10-01

Full Text Available Following the three-pillar structure of the Basel II/III framework, the article categorises and surveys 279 academic papers on operational risk in financial institutions, covering the period from 1998 to 2014. In doing so, different lines of both theoretical and empirical directions for research are identified. In addition, this study provides an overview of existing consortia databases and other publicly available sources on operational loss that may be incorporated into empirical research, as well as in risk measurement processes by financial institutions. Finally, this paper highlights the research gaps in operational risk and outlines recommendations for further research.

A Graphical Adversarial Risk Analysis Model for Oil and Gas Drilling Cybersecurity

OpenAIRE

Vieira, Aitor Couce; Houmb, Siv Hilde; Insua, David Rios

2014-01-01

Oil and gas drilling is based, increasingly, on operational technology, whose cybersecurity is complicated by several challenges. We propose a graphical model for cybersecurity risk assessment based on Adversarial Risk Analysis to face those challenges. We also provide an example of the model in the context of an offshore drilling rig. The proposed model provides a more formal and comprehensive analysis of risks, still using the standard business language based on decisions, risks, and value.

An Improved Distortion Operator for Insurance Risks

Institute of Scientific and Technical Information of China (English)

GAO Jian-wei; QIU Wan-hua

2002-01-01

This paper reviews the distortion function approach developed in the actuarial literature for insurance risks. The main aim of this paper is to derive an extensive distortion operator, and to propose a new premium principle based on this extensive distortion operator. Furthermore, the non-robustness of general distortion operator is also discussed. Examples are provided using Bernoulli, Pareto, Lognormal and Gamma distribution assumptions.

Measuring Risk Structure Using the Capital Asset Pricing Model

Directory of Open Access Journals (Sweden)

Zdeněk Konečný

2015-01-01

Full Text Available This article is aimed at proposing of an inovative method for calculating the shares of operational and financial risks. This methodological tool will support managers while monitoring the risk structure. The method is based on the capital asset pricing model (CAPM for calculation of equity cost, namely on determination of the beta coefficient, which is the only variable, that is dependent on entrepreneurial risk. There are combined both alternative approaches for calculation betas, which means, that there are accounting data used and there is distinguished unlevered beta and levered beta. The novelty of the proposed method is based on including of quantities for measuring operational and financial risks in beta calculation. The volatility of cash flow, as a quantity for measuring of operational risk, is included in the unlevered beta. Return on equity based on the cash flow and the indebtedness are variables used in calculation of the levered beta. This modification makes it possible to calculate the share of operational risk as the proportion of the unlevered/levered beta and the share of financial risk, which is the remainder of levered beta. The modified method is applied on companies from two sectors of the Czech economy. In the data set there are companies from one cyclical sector and from one neutral sector to find out potential differences in the risk structure. The findings show, that in both sectors the share of operational risk is over 50%, however, in the neutral sector is this more dominant.

AIRMEN AS BOLD RISK TAKERS REDEFINING RISK TO ACHIEVE OPERATIONAL AGILITY

Science.gov (United States)

2017-04-15

scenarios27, and emotion tends to cloud perceptions of risk.28 Also, as the frequency of feedback on a given situation increases, aversion to loss...are not brand new or emerging technology such that there is still limited intelligence on them—do not significantly increase operational risk. Those

Managing IT-related operational risks

Directory of Open Access Journals (Sweden)

Savić Ana

2008-01-01

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

Managing risks and hazardous in industrial operations

Energy Technology Data Exchange (ETDEWEB)

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

1996-12-31

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

Component Degradation Susceptibilities As The Bases For Modeling Reactor Aging Risk

International Nuclear Information System (INIS)

Unwin, Stephen D.; Lowry, Peter P.; Toyooka, Michael Y.

2010-01-01

The extension of nuclear power plant operating licenses beyond 60 years in the United States will be necessary if we are to meet national energy needs while addressing the issues of carbon and climate. Characterizing the operating risks associated with aging reactors is problematic because the principal tool for risk-informed decision-making, Probabilistic Risk Assessment (PRA), is not ideally-suited to addressing aging systems. The components most likely to drive risk in an aging reactor - the passives - receive limited treatment in PRA, and furthermore, standard PRA methods are based on the assumption of stationary failure rates: a condition unlikely to be met in an aging system. A critical barrier to modeling passives aging on the wide scale required for a PRA is that there is seldom sufficient field data to populate parametric failure models, and nor is there the availability of practical physics models to predict out-year component reliability. The methodology described here circumvents some of these data and modeling needs by using materials degradation metrics, integrated with conventional PRA models, to produce risk importance measures for specific aging mechanisms and component types. We suggest that these measures have multiple applications, from the risk-screening of components to the prioritization of materials research.

A Graphical Adversarial Risk Analysis Model for Oil and Gas Drilling Cybersecurity

Directory of Open Access Journals (Sweden)

Aitor Couce Vieira

2014-04-01

Full Text Available Oil and gas drilling is based, increasingly, on operational technology, whose cybersecurity is complicated by several challenges. We propose a graphical model for cybersecurity risk assessment based on Adversarial Risk Analysis to face those challenges. We also provide an example of the model in the context of an offshore drilling rig. The proposed model provides a more formal and comprehensive analysis of risks, still using the standard business language based on decisions, risks, and value.

Comparison of prospective risk estimates for postoperative complications: human vs computer model.

Science.gov (United States)

Glasgow, Robert E; Hawn, Mary T; Hosokawa, Patrick W; Henderson, William G; Min, Sung-Joon; Richman, Joshua S; Tomeh, Majed G; Campbell, Darrell; Neumayer, Leigh A

2014-02-01

Surgical quality improvement tools such as NSQIP are limited in their ability to prospectively affect individual patient care by the retrospective audit and feedback nature of their design. We hypothesized that statistical models using patient preoperative characteristics could prospectively provide risk estimates of postoperative adverse events comparable to risk estimates provided by experienced surgeons, and could be useful for stratifying preoperative assessment of patient risk. This was a prospective observational cohort. Using previously developed models for 30-day postoperative mortality, overall morbidity, cardiac, thromboembolic, pulmonary, renal, and surgical site infection (SSI) complications, model and surgeon estimates of risk were compared with each other and with actual 30-day outcomes. The study cohort included 1,791 general surgery patients operated on between June 2010 and January 2012. Observed outcomes were mortality (0.2%), overall morbidity (8.2%), and pulmonary (1.3%), cardiac (0.3%), thromboembolism (0.2%), renal (0.4%), and SSI (3.8%) complications. Model and surgeon risk estimates showed significant correlation (p risk for overall morbidity to be low, the model-predicted risk and observed morbidity rates were 2.8% and 4.1%, respectively, compared with 10% and 18% in perceived high risk patients. Patients in the highest quartile of model-predicted risk accounted for 75% of observed mortality and 52% of morbidity. Across a broad range of general surgical operations, we confirmed that the model risk estimates are in fairly good agreement with risk estimates of experienced surgeons. Using these models prospectively can identify patients at high risk for morbidity and mortality, who could then be targeted for intervention to reduce postoperative complications. Published by Elsevier Inc.

A comprehensive Network Security Risk Model for process control networks.

Science.gov (United States)

Henry, Matthew H; Haimes, Yacov Y

2009-02-01

The risk of cyber attacks on process control networks (PCN) is receiving significant attention due to the potentially catastrophic extent to which PCN failures can damage the infrastructures and commodity flows that they support. Risk management addresses the coupled problems of (1) reducing the likelihood that cyber attacks would succeed in disrupting PCN operation and (2) reducing the severity of consequences in the event of PCN failure or manipulation. The Network Security Risk Model (NSRM) developed in this article provides a means of evaluating the efficacy of candidate risk management policies by modeling the baseline risk and assessing expectations of risk after the implementation of candidate measures. Where existing risk models fall short of providing adequate insight into the efficacy of candidate risk management policies due to shortcomings in their structure or formulation, the NSRM provides model structure and an associated modeling methodology that captures the relevant dynamics of cyber attacks on PCN for risk analysis. This article develops the NSRM in detail in the context of an illustrative example.

Risk Importance Measures in the Designand Operation of Nuclear Power Plants

Energy Technology Data Exchange (ETDEWEB)

Vrbanic I.; Samanta P.; Basic, I

2017-10-31

This monograph presents and discusses risk importance measures as quantified by the probabilistic risk assessment (PRA) models of nuclear power plants (NPPs) developed according to the current standards and practices. Usually, PRA tools calculate risk importance measures related to a single ?basic event? representing particular failure mode. This is, then, reflected in many current PRA applications. The monograph focuses on the concept of ?component-level? importance measures that take into account different failure modes of the component including common-cause failures (CCFs). In opening sections the roleof risk assessment in safety analysis of an NPP is introduced and discussion given of ?traditional?, mainly deterministic, design principles which have been established to assign a level of importance to a particular system, structure or component. This is followed by an overview of main risk importance measures for risk increase and risk decrease from current PRAs. Basic relations which exist among the measures are shown. Some of the current practical applications of risk importancemeasures from the field of NPP design, operation and regulation are discussed. The core of the monograph provides a discussion on theoreticalbackground and practical aspects of main risk importance measures at the level of ?component? as modeled in a PRA, starting from the simplest case, single basic event, and going toward more complexcases with multiple basic events and involvements in CCF groups. The intent is to express the component-level importance measures via theimportance measures and probabilities of the underlying single basic events, which are the inputs readily available from a PRA model andits results. Formulas are derived and discussed for some typical cases. The formulas and their results are demonstrated through some practicalexamples, done by means of a simplified PRA model developed in and run by RiskSpectrum? tool, which are presented in the appendices. The

An operational procedure for rapid flood risk assessment in Europe

Science.gov (United States)

Dottori, Francesco; Kalas, Milan; Salamon, Peter; Bianchi, Alessandra; Alfieri, Lorenzo; Feyen, Luc

2017-07-01

The development of methods for rapid flood mapping and risk assessment is a key step to increase the usefulness of flood early warning systems and is crucial for effective emergency response and flood impact mitigation. Currently, flood early warning systems rarely include real-time components to assess potential impacts generated by forecasted flood events. To overcome this limitation, this study describes the benchmarking of an operational procedure for rapid flood risk assessment based on predictions issued by the European Flood Awareness System (EFAS). Daily streamflow forecasts produced for major European river networks are translated into event-based flood hazard maps using a large map catalogue derived from high-resolution hydrodynamic simulations. Flood hazard maps are then combined with exposure and vulnerability information, and the impacts of the forecasted flood events are evaluated in terms of flood-prone areas, economic damage and affected population, infrastructures and cities.An extensive testing of the operational procedure has been carried out by analysing the catastrophic floods of May 2014 in Bosnia-Herzegovina, Croatia and Serbia. The reliability of the flood mapping methodology is tested against satellite-based and report-based flood extent data, while modelled estimates of economic damage and affected population are compared against ground-based estimations. Finally, we evaluate the skill of risk estimates derived from EFAS flood forecasts with different lead times and combinations of probabilistic forecasts. Results highlight the potential of the real-time operational procedure in helping emergency response and management.

The globalization of risk and risk perception: why we need a new model of risk communication for vaccines.

Science.gov (United States)

Larson, Heidi; Brocard Paterson, Pauline; Erondu, Ngozi

2012-11-01

Risk communication and vaccines is complex and the nature of risk perception is changing, with perceptions converging, evolving and having impacts well beyond specific geographic localities and points in time, especially when amplified through the Internet and other modes of global communication. This article examines the globalization of risk perceptions and their impacts, including the example of measles and the globalization of measles, mumps and rubella (MMR) vaccine risk perceptions, and calls for a new, more holistic model of risk assessment, risk communication and risk mitigation, embedded in an ongoing process of risk management for vaccines and immunization programmes. It envisions risk communication as an ongoing process that includes trust-building strategies hand-in-hand with operational and policy strategies needed to mitigate and manage vaccine-related risks, as well as perceptions of risk.

Modelling local government unit credit risk in the Republic of Croatia

Directory of Open Access Journals (Sweden)

Petra Posedel

2012-12-01

Full Text Available The objective of this paper is to determine possible indicators that affect local unit credit risk and investigate their effect on default (credit risk of local government units in Croatia. No system for the estimation of local unit credit risk has been established in Croatia so far causing many practical problems in local unit borrowing. Because of the specific nature of the operations of local government units and legislation that does not allow local government units to go into bankruptcy, conventional methods for estimating credit risk are not applicable, and the set of standard potential determinants of credit risk has to be expanded with new indicators. Thus in the paper, in addition to the usual determinants of credit risk, the hypothesis of the influence of political factors on local unit credit risk in Croatia is also tested out, with the use of a Tobit model. Results of econometric analysis show that credit risk of local government units in Croatia is affected by the political structure of local government, the proportion of income tax and surtax in operating revenue, the ratio of net operating balance, net financial liabilities and direct debt to operating revenue, as well as the ratio of debt repayment and cash, and direct debt and operating revenue.

Initiating Events Modeling for On-Line Risk Monitoring Application

International Nuclear Information System (INIS)

Simic, Z.; Mikulicic, V.

1998-01-01

In order to make on-line risk monitoring application of Probabilistic Risk Assessment more complete and realistic, a special attention need to be dedicated to initiating events modeling. Two different issues are of special importance: one is how to model initiating events frequency according to current plant configuration (equipment alignment and out of service status) and operating condition (weather and various activities), and the second is how to preserve dependencies between initiating events model and rest of PRA model. First, the paper will discuss how initiating events can be treated in on-line risk monitoring application. Second, practical example of initiating events modeling in EPRI's Equipment Out of Service on-line monitoring tool will be presented. Gains from application and possible improvements will be discussed in conclusion. (author)

Blended Risk Approach in Applying PSA Models to Risk-Based Regulations

International Nuclear Information System (INIS)

Dimitrijevic, V. B.; Chapman, J. R.

1996-01-01

In this paper, the authors will discuss a modern approach in applying PSA models in risk-based regulation. The Blended Risk Approach is a combination of traditional and probabilistic processes. It is receiving increased attention in different industries in the U. S. and abroad. The use of the deterministic regulations and standards provides a proven and well understood basis on which to assess and communicate the impact of change to plant design and operation. Incorporation of traditional values into risk evaluation is working very well in the blended approach. This approach is very application specific. It includes multiple risk attributes, qualitative risk analysis, and basic deterministic principles. In blending deterministic and probabilistic principles, this approach ensures that the objectives of the traditional defense-in-depth concept are not compromised and the design basis of the plant is explicitly considered. (author)

Modelling IT risk in banking industry : A study on how to calculate the aggregate loss distribution of IT risk

OpenAIRE

Isaksson, Didrik

2017-01-01

Background: Lack of internal data makes some operational risks hard to calculate with quantitative models. This is true for the IT risk or the risk that a bank will experience losses caused by IT System and Infrastructure failure. IT systems and infrastructure are getting more predominant and important in the banking industry which makes the IT risk even more important to quantify.  Purpose: The aim of this thesis is to find an appropriate way of modelling IT risk for the banking industry. Th...

A Risk Assessment Architecture for Enhanced Engine Operation

Science.gov (United States)

Litt, Jonathan S.; Sharp. Lauren M.; Guo, Ten-Huei

2010-01-01

On very rare occasions, in-flight emergencies have occurred that required the pilot to utilize the aircraft's capabilities to the fullest extent possible, sometimes using actuators in ways for which they were not intended. For instance, when flight control has been lost due to damage to the hydraulic systems, pilots have had to use engine thrust to maneuver the plane to the ground and in for a landing. To assist the pilot in these situations, research is being performed to enhance the engine operation by making it more responsive or able to generate more thrust. Enabled by modification of the propulsion control, enhanced engine operation can increase the probability of a safe landing during an inflight emergency. However, enhanced engine operation introduces risk as the nominal control limits, such as those on shaft speed, temperature, and acceleration, are exceeded. Therefore, an on-line tool for quantifying this risk must be developed to ensure that the use of an enhanced control mode does not actually increase the overall danger to the aircraft. This paper describes an architecture for the implementation of this tool. It describes the type of data and algorithms required and the information flow, and how the risk based on engine component lifing and operability for enhanced operation is determined.

The Operational Risk in the Outlook of the Basel II Accord Implementation

Directory of Open Access Journals (Sweden)

Andrei Tinca

2007-05-01

Full Text Available The financial scandals în the last two decades have determined the Basel Committee to improve the risk controls for banks în general, and for operational risk in particular. Operational risk covers all non-market or credit risk, therefore including management risk, IT and fraud risk. By the Basel II Accord, the Committee proposes three risk measurement methods, which induce increasing costs, but also greater reductions în a bank’s capital reserve, and thus în its operating costs.

Operational Oceanograhy System for Oil Spill Risk Management at Santander Bay (Spain)

Science.gov (United States)

Castanedo Bárcena, S.; Nuñez, P.; Perez-Diaz, B.; Abascal, A.; Cardenas, M.; Medina, R.

2016-02-01

Estuaries and bays are sheltered areas that usually host a wide range of industry and interests (e.g. aquaculture, fishing, recreation, habitat protection). Oil spill risk assessment in these environments is fundamental given the reduced response time associated to this very local scale. This work presents a system comprising two modules: (1) an Operational Oceanography System (OOS) based on nesting high resolution models which provides short-term (within 48 hours) oil spill trajectory forecasting and (2) an oil spill risk assessment system (OSRAS) that estimates risk as the combination of hazard and vulnerability. Hazard is defined as the probability of the coast to be polluted by an oil spill and is calculated on the basis of a library of pre-run cases. The OOS is made up by: (1) Daily boundary conditions (sea level, ocean currents, salinity and temperature) and meteorological forcing are obtained from the European network MYOCEAN and from the Spanish met office, AEMET, respectively; (2) COAWST modelling system is the engine of the OOS (at this stage of the project only ROMS is on); (3) an oil spill transport and fate model, TESEO (4) a web service that manages the operational system and allows the user to run hypothetical as well as real oil spill trajectories using the daily forecast of wind and high resolution ocean variables carried out by COAWST. Regarding the OSRAS system, the main contributions of this work are: (1) the use of extensive meteorological and oceanographic database provided by state-of-the-art ocean and atmospheric models, (2) the use of clustering techniques to establish representative met-ocean scenarios (i.e. combination of sea state, meteorological conditions, tide and river flow), (3) dynamic downscaling of the met-ocean scenarios with COAWST modelling system and (4) management of hundreds of runs performed with the state-of-the-art oil spill transport model TESEO.

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

Directory of Open Access Journals (Sweden)

Raffaele Albano

2015-12-01

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

Operational Performance Risk Assessment in Support of A Supervisory Control System

Energy Technology Data Exchange (ETDEWEB)

Denning, Richard S. [Self Employed; Muhlheim, Michael David [ORNL; Cetiner, Sacit M. [ORNL; Guler Yigitoglu, Askin [ORNL

2017-06-01

Supervisory control system (SCS) is developed for multi-unit advanced small modular reactors to minimize human interventions in both normal and abnormal operations. In SCS, control action decisions made based on probabilistic risk assessment approach via Event Trees/Fault Trees. Although traditional PRA tools are implemented, their scope is extended to normal operations and application is reversed; success of non-safety related system instead failure of safety systems this extended PRA approach called as operational performance risk assessment (OPRA). OPRA helps to identify success paths, combination of control actions for transients and to quantify these success paths to provide possible actions without activating plant protection system. In this paper, a case study of the OPRA in supervisory control system is demonstrated within the context of the ALMR PRISM design, specifically power conversion system. The scenario investigated involved a condition that the feed water control valve is observed to be drifting to the closed position. Alternative plant configurations were identified via OPRA that would allow the plant to continue to operate at full or reduced power. Dynamic analyses were performed with a thermal-hydraulic model of the ALMR PRISM system using Modelica to evaluate remained safety margins. Successful recovery paths for the selected scenario are identified and quantified via SCS.

Risk of Venous Thromboembolism and Operative Duration in Patients Undergoing Neurosurgical Procedures.

Science.gov (United States)

Bekelis, Kimon; Labropoulos, Nicos; Coy, Shannon

2017-05-01

The association of operative duration with the risk of venous thromboembolism (VTE) has not been quantified in neurosurgery. To investigate the association of surgical duration for several neurosurgical procedures and the incidence of VTE. We performed a retrospective cohort study involving patients who underwent neurosurgical procedures from 2005 to 2012 and were registered in the American College of Surgeons National Quality Improvement Project registry. In order to control for confounding, we used multivariable regression models, and propensity score conditioning. During the study period, there were 94 747 patients, who underwent neurosurgical procedures, and met the inclusion criteria. Of these, 1358 (1.0%) developed VTE within 30 days postoperatively. Multivariable logistic regression demonstrated an association of longer operative duration with higher 30-day incidence of VTE (odds ratio [OR], 1.22; 95% confidence interval [CI], 1.19-1.25). Compared with procedures of moderate duration (third quintile, 40-60th percentile), patients undergoing the longest procedures (>80th percentile) had higher odds (OR, 3.15; 95% CI, 2.49-3.99) of developing VTE. The shortest procedures (<20th percentile) were associated with a decreased incidence of VTE (OR, 0.51; 95% CI, 0.27-0.76) in comparison to those of moderate duration. The same associations were present in propensity score-adjusted models, and models stratified by subgroups of cranial, spinal, peripheral nerve, and carotid procedures. In a cohort of patients from a national prospective surgical registry, increased operative duration was associated with increased incidence of VTE for neurosurgical procedures. These results can be used by neurosurgeons to inform operative management, and to stratify patients with regard to VTE risk. Copyright © 2016 by the Congress of Neurological Surgeons

Screening and prioritisation of chemical risks from metal mining operations, identifying exposure media of concern.

Science.gov (United States)

Pan, Jilang; Oates, Christopher J; Ihlenfeld, Christian; Plant, Jane A; Voulvoulis, Nikolaos

2010-04-01

Metals have been central to the development of human civilisation from the Bronze Age to modern times, although in the past, metal mining and smelting have been the cause of serious environmental pollution with the potential to harm human health. Despite problems from artisanal mining in some developing countries, modern mining to Western standards now uses the best available mining technology combined with environmental monitoring, mitigation and remediation measures to limit emissions to the environment. This paper develops risk screening and prioritisation methods previously used for contaminated land on military and civilian sites and engineering systems for the analysis and prioritisation of chemical risks from modern metal mining operations. It uses hierarchical holographic modelling and multi-criteria decision making to analyse and prioritise the risks from potentially hazardous inorganic chemical substances released by mining operations. A case study of an active platinum group metals mine in South Africa is used to demonstrate the potential of the method. This risk-based methodology for identifying, filtering and ranking mining-related environmental and human health risks can be used to identify exposure media of greatest concern to inform risk management. It also provides a practical decision-making tool for mine acquisition and helps to communicate risk to all members of mining operation teams.

Impact of Risk Aversion on the Operation of Hydroelectric Reservoirs in the Presence of Renewable Energy Sources

Directory of Open Access Journals (Sweden)

Nenad Jovanović

2018-05-01

Full Text Available The increasing share of renewable energy sources, such as wind and solar generation, has a direct impact on the planning and operation of power systems. In addition, the consideration of risk criteria within the decision support tools used by market participants (generation companies, energy services companies, and arbitrageurs is becoming a common activity given the increasing level of uncertainties faced by them. As a consequence, the behavior of market participants is affected by their level of risk aversion, and the application of equilibrium-based models is a common technique used in order to simulate their behavior. This paper presents a multi-stage market equilibrium model of risk-averse agents in order to analyze up to what extent the operation of hydro reservoirs can be affected by the risk-averse profile of market participants in a context of renewable energy source penetration and fuel price volatility.

The Risk Assessment of the Firm Activity Using the Operating Lever

Directory of Open Access Journals (Sweden)

Anca-Jarmila GUTA

2016-09-01

Full Text Available This paper aims identify the ways in which the risk generally and specifically operating the risk can compete in the failure or success of a business. For awareness phenomena, actions and events that can generate losses for the adoption of prudent behavior it is necessary in a first step to identify the types of risk that a company may face. For the company that makes the subject of this paper have revealed a risk of exploitation by means of operating leverage, expressing elasticity operating result of the company in relation to its turn over. Analysing the evolution of the society we found that increasing the volume of activity on the period under study led to an increase in operating leverage which means that society has become more risky because it involves revenue growth and increased operating costs.

Risk model of thoracic aortic surgery in 4707 cases from a nationwide single-race population through a web-based data entry system: the first report of 30-day and 30-day operative outcome risk models for thoracic aortic surgery.

Science.gov (United States)

Motomura, Noboru; Miyata, Hiroaki; Tsukihara, Hiroyuki; Takamoto, Shinichi

2008-09-30

The objective of this study was to collect integrated data from nationwide hospitals using a web-based national database system to build up our own risk model for the outcome from thoracic aortic surgery. The Japan Adult Cardiovascular Surgery Database was used; this involved approximately 180 hospitals throughout Japan through a web-based data entry system. Variables and definitions are almost identical to the STS National Database. After data cleanup, 4707 records were analyzed from 97 hospitals (between January 1, 2000, and December 31, 2005). Mean age was 66.5 years. Preoperatively, the incidence of chronic lung disease was 11%, renal failure was 9%, and rupture or malperfusion was 10%. The incidence of the location along the aorta requiring replacement surgery (including overlapping areas) was: aortic root, 10%; ascending aorta, 47%; aortic arch, 44%; distal arch, 21%; descending aorta, 27%; and thoracoabdominal aorta, 8%. Raw 30-day and 30-day operative mortality rates were 6.7% and 8.6%, respectively. Postoperative incidence of permanent stroke was 6.1%, and renal failure requiring dialysis was 6.7%. OR for 30-day operative mortality was as follows: emergency or salvage, 3.7; creatinine >3.0 mg/dL, 3.0; and unexpected coronary artery bypass graft, 2.6. As a performance metric of the risk model, C-index of 30-day and 30-day operative mortality was 0.79 and 0.78, respectively. This is the first report of risk stratification on thoracic aortic surgery using a nationwide surgical database. Although condition of these patients undergoing thoracic aortic surgery was much more serious than other procedures, the result of this series was excellent.

A decision model for the risk management of hazardous processes

International Nuclear Information System (INIS)

Holmberg, J.E.

1997-03-01

A decision model for risk management of hazardous processes as an optimisation problem of a point process is formulated in the study. In the approach, the decisions made by the management are divided into three categories: (1) planned process lifetime, (2) selection of the design and, (3) operational decisions. These three controlling methods play quite different roles in the practical risk management, which is also reflected in our approach. The optimisation of the process lifetime is related to the licensing problem of the process. It provides a boundary condition for a feasible utility function that is used as the actual objective function, i.e., maximizing the process lifetime utility. By design modifications, the management can affect the inherent accident hazard rate of the process. This is usually a discrete optimisation task. The study particularly concentrates upon the optimisation of the operational strategies given a certain design and licensing time. This is done by a dynamic risk model (marked point process model) representing the stochastic process of events observable or unobservable to the decision maker. An optimal long term control variable guiding the selection of operational alternatives in short term problems is studied. The optimisation problem is solved by the stochastic quasi-gradient procedure. The approach is illustrated by a case study. (23 refs.)

An operative dengue risk stratification system in Argentina based on geospatial technology

Directory of Open Access Journals (Sweden)

Ximena Porcasi

2012-09-01

Full Text Available Based on an agreement between the Ministry of Health and the National Space Activities Commission in Argentina, an integrated informatics platform for dengue risk using geospatial technology for the surveillance and prediction of risk areas for dengue fever has been designed. The task was focused on developing stratification based on environmental (historical and current, viral, social and entomological situation for >3,000 cities as part of a system. The platform, developed with open-source software with pattern design, following the European Space Agency standards for space informatics, delivers two products: a national risk map consisting of point vectors for each city/town/locality and an approximate 50 m resolution urban risk map modelling the risk inside selected high-risk cities. The operative system, architecture and tools used in the development are described, including a detailed list of end users’ requirements. Additionally, an algorithm based on bibliography and landscape epidemiology concepts is presented and discussed. The system, in operation since September 2011, is capable of continuously improving the algorithms producing improved risk stratifications without a complete set of inputs. The platform was specifically developed for surveillance of dengue fever as this disease has reemerged in Argentina but the aim is to widen the scope to include also other relevant vector-borne diseases such as chagas, malaria and leishmaniasis as well as other countries belonging to south region of Latin America.

Risk based limits for Operational Safety Requirements

International Nuclear Information System (INIS)

Cappucci, A.J. Jr.

1993-01-01

OSR limits are designed to protect the assumptions made in the facility safety analysis in order to preserve the safety envelope during facility operation. Normally, limits are set based on ''worst case conditions'' without regard to the likelihood (frequency) of a credible event occurring. In special cases where the accident analyses are based on ''time at risk'' arguments, it may be desirable to control the time at which the facility is at risk. A methodology has been developed to use OSR limits to control the source terms and the times these source terms would be available, thus controlling the acceptable risk to a nuclear process facility. The methodology defines a new term ''gram-days''. This term represents the area under a source term (inventory) vs time curve which represents the risk to the facility. Using the concept of gram-days (normalized to one year) allows the use of an accounting scheme to control the risk under the inventory vs time curve. The methodology results in at least three OSR limits: (1) control of the maximum inventory or source term, (2) control of the maximum gram-days for the period based on a source term weighted average, and (3) control of the maximum gram-days at the individual source term levels. Basing OSR limits on risk based safety analysis is feasible, and a basis for development of risk based limits is defensible. However, monitoring inventories and the frequencies required to maintain facility operation within the safety envelope may be complex and time consuming

Dynamic Value Engineering Method Optimizing the Risk on Real Time Operating System

Directory of Open Access Journals (Sweden)

Prashant Kumar Patra

2014-04-01

Full Text Available The value engineering is the umbrella of the many more sub-system like quality assurance, quality control, quality function design and development for manufacturability. The system engineering & value engineering is two part of the coin. The value engineering is the high level of technology management for every aspect of engineering fields. The value engineering is the high utilization of System Product (i.e. Processor, Memory & Encryption key, Services, Business and Resources at minimal cost. The high end operating system providing highest services at optimal cost & time. The value engineering provides the maximum performance, accountability, reliability, integrity and availability of processor, memory, encryption key and other inter dependency sub-components. The value engineering is the ratio of the maximum functionality of individual components to the optimal cost. VE=k [(P, M, E, C, A]/optimal cost. Where k is the proportionality constant. The VE is directly proportional to performance of individual components and inversely proportional to the minimal cost. The VE is directly proportional to the risk assessment. The VE maximize the business throughput & decision process mean while minimize the risk and down time. We have to develop the dynamic value engineering model & mechanism for risk optimization over a complex real time operating system This proposed composition model definite will be resolve our objective at top high level. Product

Risk factors for surgical site infection following operative ankle fracture fixation.

Science.gov (United States)

Kelly, E G; Cashman, J P; Groarke, P J; Morris, S F

2013-09-01

Ankle fracture is a common injury and there is an increasingly greater emphasis on operative fixation. The purpose of the study was to determine the complication rate in this cohort of patients and, in doing so, determine risk factors which predispose to surgical site infection. A prospective cohort study was performed at a tertiary referral trauma center examining risk factors for surgical site infection in operatively treated ankle fractures. Univariate and multivariate analysis was performed. Female gender and advancing age were determined to be the risk factors in univariate analysis. Drain usage and peri-operative pyrexia were found to be significant for infection in multivariate analysis. This study allows surgeons to identify those at increased risk of infection and counsel them appropriately. It also allows for a high level of vigilance with regard to soft tissue handling intra-operatively in this higher risk group.

Architecture-based Model for Preventive and Operative Crisis Management

National Research Council Canada - National Science Library

Jungert, Erland; Derefeldt, Gunilla; Hallberg, Jonas; Hallberg, Niklas; Hunstad, Amund; Thuren, Ronny

2004-01-01

.... A system that should support activities of this type must not only have a high capacity, with respect to the dataflow, but also have suitable tools for decision support. To overcome these problems, an architecture for preventive and operative crisis management is proposed. The architecture is based on models for command and control, but also for risk analysis.

A Study on Safety and Risk Assessment of Dangerous Cargo Operations in Oil/Chemical Tankers

OpenAIRE

Cenk ŞAKAR; Yusuf ZORBA

2017-01-01

The safety and risk assessment of dangerous cargo operations in oil and chemical tankers is a necessary process to prevent possible accidents during these operations. Fire and explosion are the major accidents encountered in tanker operations. In this study, a model was constructed through the Fuzzy Bayes Network Method for the probabilistic relationships between the causes of fire and explosion accidents that could occur during the tank cleaning process. The study is composed of two stages. ...

Risk management model in road transport systems

Science.gov (United States)

Sakhapov, R. L.; Nikolaeva, R. V.; Gatiyatullin, M. H.; Makhmutov, M. M.

2016-08-01

The article presents the results of a study of road safety indicators that influence the development and operation of the transport system. Road safety is considered as a continuous process of risk management. Authors constructed a model that relates the social risks of a major road safety indicator - the level of motorization. The model gives a fairly accurate assessment of the level of social risk for any given level of motorization. Authors calculated the dependence of the level of socio-economic costs of accidents and injured people in them. The applicability of the concept of socio-economic damage is caused by the presence of a linear relationship between the natural and economic indicators damage from accidents. The optimization of social risk is reduced to finding the extremum of the objective function that characterizes the economic effect of the implementation of measures to improve safety. The calculations make it possible to maximize the net present value, depending on the costs of improving road safety, taking into account socio-economic damage caused by accidents. The proposed econometric models make it possible to quantify the efficiency of the transportation system, allow to simulate the change in road safety indicators.

Facility Will Help Transition Models Into Operations

Science.gov (United States)

Kumar, Mohi

2009-02-01

The U.S. National Oceanic and Atmospheric Administration's Space Weather Prediction Center (NOAA SWPC), in partnership with the U.S. Air Force Weather Agency (AFWA), is establishing a center to promote and facilitate the transition of space weather models to operations. The new facility, called the Developmental Testbed Center (DTC), will take models used by researchers and rigorously test them to see if they can withstand continued use as viable warning systems. If a model used in a space weather warning system crashes or fails to perform well, severe consequences can result. These include increased radiation risks to astronauts and people traveling on high-altitude flights, national security vulnerabilities from the loss of military satellite communications, and the cost of replacing damaged military and commercial spacecraft.

Fires involving radioactive materials : transference model; operative recommendations

International Nuclear Information System (INIS)

Rodriguez, C.E.; Puntarulo, L.J.; Canibano, J.A.

1988-01-01

In all aspects related to the nuclear activity, the occurrence of an explosion, fire or burst type accident, with or without victims, is directly related to the characteristics of the site. The present work analyses the different parameters involved, describing a transference model and recommendations for evaluation and control of the radiological risk for firemen. Special emphasis is placed on the measurement of the variables existing in this kind of operations

A model for the optimal risk management of (farm) firms

DEFF Research Database (Denmark)

Rasmussen, Svend

Current methods of risk management focus on efficiency and do not provide operational answers to the basic question of how to optimise and balance the two objectives, maximisation of expected income and minimisation of risk. This paper uses the Capital Asset Pricing Model (CAPM) to derive...... an operational criterion for the optimal risk management of firms. The criterion assumes that the objective of the firm manager is to maximise the market value of the firm and is based on the condition that the application of risk management tools has a symmetric effect on the variability of income around...... the mean. The criterion is based on the expected consequences of risk management on relative changes in the variance of return on equity and expected income. The paper demonstrates how the criterion may be used to evaluate and compare the effect of different risk management tools, and it illustrates how...

Advanced uncertainty modelling for container port risk analysis.

Science.gov (United States)

Alyami, Hani; Yang, Zaili; Riahi, Ramin; Bonsall, Stephen; Wang, Jin

2016-08-13

Globalization has led to a rapid increase of container movements in seaports. Risks in seaports need to be appropriately addressed to ensure economic wealth, operational efficiency, and personnel safety. As a result, the safety performance of a Container Terminal Operational System (CTOS) plays a growing role in improving the efficiency of international trade. This paper proposes a novel method to facilitate the application of Failure Mode and Effects Analysis (FMEA) in assessing the safety performance of CTOS. The new approach is developed through incorporating a Fuzzy Rule-Based Bayesian Network (FRBN) with Evidential Reasoning (ER) in a complementary manner. The former provides a realistic and flexible method to describe input failure information for risk estimates of individual hazardous events (HEs) at the bottom level of a risk analysis hierarchy. The latter is used to aggregate HEs safety estimates collectively, allowing dynamic risk-based decision support in CTOS from a systematic perspective. The novel feature of the proposed method, compared to those in traditional port risk analysis lies in a dynamic model capable of dealing with continually changing operational conditions in ports. More importantly, a new sensitivity analysis method is developed and carried out to rank the HEs by taking into account their specific risk estimations (locally) and their Risk Influence (RI) to a port's safety system (globally). Due to its generality, the new approach can be tailored for a wide range of applications in different safety and reliability engineering and management systems, particularly when real time risk ranking is required to measure, predict, and improve the associated system safety performance. Copyright © 2016 Elsevier Ltd. All rights reserved.

Model based risk assessment - the CORAS framework

Energy Technology Data Exchange (ETDEWEB)

Gran, Bjoern Axel; Fredriksen, Rune; Thunem, Atoosa P-J.

2004-04-15

Traditional risk analysis and assessment is based on failure-oriented models of the system. In contrast to this, model-based risk assessment (MBRA) utilizes success-oriented models describing all intended system aspects, including functional, operational and organizational aspects of the target. The target models are then used as input sources for complementary risk analysis and assessment techniques, as well as a basis for the documentation of the assessment results. The EU-funded CORAS project developed a tool-supported methodology for the application of MBRA in security-critical systems. The methodology has been tested with successful outcome through a series of seven trial within the telemedicine and ecommerce areas. The CORAS project in general and the CORAS application of MBRA in particular have contributed positively to the visibility of model-based risk assessment and thus to the disclosure of several potentials for further exploitation of various aspects within this important research field. In that connection, the CORAS methodology's possibilities for further improvement towards utilization in more complex architectures and also in other application domains such as the nuclear field can be addressed. The latter calls for adapting the framework to address nuclear standards such as IEC 60880 and IEC 61513. For this development we recommend applying a trial driven approach within the nuclear field. The tool supported approach for combining risk analysis and system development also fits well with the HRP proposal for developing an Integrated Design Environment (IDE) providing efficient methods and tools to support control room systems design. (Author)

An RES-Based Model for Risk Assessment and Prediction of Backbreak in Bench Blasting

Science.gov (United States)

Faramarzi, F.; Ebrahimi Farsangi, M. A.; Mansouri, H.

2013-07-01

Most blasting operations are associated with various forms of energy loss, emerging as environmental side effects of rock blasting, such as flyrock, vibration, airblast, and backbreak. Backbreak is an adverse phenomenon in rock blasting operations, which imposes risk and increases operation expenses because of safety reduction due to the instability of walls, poor fragmentation, and uneven burden in subsequent blasts. In this paper, based on the basic concepts of a rock engineering systems (RES) approach, a new model for the prediction of backbreak and the risk associated with a blast is presented. The newly suggested model involves 16 effective parameters on backbreak due to blasting, while retaining simplicity as well. The data for 30 blasts, carried out at Sungun copper mine, western Iran, were used to predict backbreak and the level of risk corresponding to each blast by the RES-based model. The results obtained were compared with the backbreak measured for each blast, which showed that the level of risk achieved is in consistence with the backbreak measured. The maximum level of risk [vulnerability index (VI) = 60] was associated with blast No. 2, for which the corresponding average backbreak was the highest achieved (9.25 m). Also, for blasts with levels of risk under 40, the minimum average backbreaks (<4 m) were observed. Furthermore, to evaluate the model performance for backbreak prediction, the coefficient of correlation ( R 2) and root mean square error (RMSE) of the model were calculated ( R 2 = 0.8; RMSE = 1.07), indicating the good performance of the model.

Quantile uncertainty and value-at-risk model risk.

Science.gov (United States)

Alexander, Carol; Sarabia, José María

2012-08-01

This article develops a methodology for quantifying model risk in quantile risk estimates. The application of quantile estimates to risk assessment has become common practice in many disciplines, including hydrology, climate change, statistical process control, insurance and actuarial science, and the uncertainty surrounding these estimates has long been recognized. Our work is particularly important in finance, where quantile estimates (called Value-at-Risk) have been the cornerstone of banking risk management since the mid 1980s. A recent amendment to the Basel II Accord recommends additional market risk capital to cover all sources of "model risk" in the estimation of these quantiles. We provide a novel and elegant framework whereby quantile estimates are adjusted for model risk, relative to a benchmark which represents the state of knowledge of the authority that is responsible for model risk. A simulation experiment in which the degree of model risk is controlled illustrates how to quantify Value-at-Risk model risk and compute the required regulatory capital add-on for banks. An empirical example based on real data shows how the methodology can be put into practice, using only two time series (daily Value-at-Risk and daily profit and loss) from a large bank. We conclude with a discussion of potential applications to nonfinancial risks. © 2012 Society for Risk Analysis.

Risk-informed optimal routing of ships considering different damage scenarios and operational conditions

International Nuclear Information System (INIS)

Decò, Alberto; Frangopol, Dan M.

2013-01-01

The aim of this paper is the development of a risk-informed decision tool for the optimal mission-oriented routing of ships. The strength of the hull is investigated by modeling the midship section with finite elements and by analyzing different damage levels depending on the propagation of plastification throughout the section. Vertical and horizontal flexural interaction is investigated. Uncertainties associated with geometry and material properties are accounted for by means of the implementation of the response surface method. Load effects are evaluated using strip theory. Reliability analysis is performed for several ship operational conditions and considering four different limit states. Then, risk is assessed by including the direct losses associated with five investigated damage states. The effects of corrosion on aged ships are included in the proposed approach. Polar representation of load effects, reliability, and direct risk are presented for a large spectrum of operational conditions. Finally, the optimal routing of ships is obtained by minimizing both the estimated time of arrival and the expected direct risk, which are clearly conflicting objectives. The optimization process provides feasible solutions belonging to the Pareto front. The proposed approach is applied to a Joint High Speed Sealift

Performance of European system for cardiac operative risk evaluation in Veterans General Hospital Kaohsiung cardiac surgery

Directory of Open Access Journals (Sweden)

Hsin-Hung Shih

2011-03-01

Conclusion: EuroSCORE is simple and easy to use. In the present study, the model demonstrated excellent accuracy in all and various surgical subgroups in VGHKS cardiovascular surgery populations. Good calibration ability in all and different risk categories was identified except for isolated CABG group. Recalibration factors of 0.55 and 0.85 were suggested for the various operative subgroups and risk categories.

Analysis and Assessment of Operation Risk for Hybrid AC/DC Power System based on the Monte Carlo Method

Science.gov (United States)

Hu, Xiaojing; Li, Qiang; Zhang, Hao; Guo, Ziming; Zhao, Kun; Li, Xinpeng

2018-06-01

Based on the Monte Carlo method, an improved risk assessment method for hybrid AC/DC power system with VSC station considering the operation status of generators, converter stations, AC lines and DC lines is proposed. According to the sequential AC/DC power flow algorithm, node voltage and line active power are solved, and then the operation risk indices of node voltage over-limit and line active power over-limit are calculated. Finally, an improved two-area IEEE RTS-96 system is taken as a case to analyze and assessment its operation risk. The results show that the proposed model and method can intuitively and directly reflect the weak nodes and weak lines of the system, which can provide some reference for the dispatching department.

Analysis and Assessment of Operation Risk for Hybrid AC/DC Power System based on the Monte Carlo Method

Directory of Open Access Journals (Sweden)

Hu Xiaojing

2018-01-01

Full Text Available Based on the Monte Carlo method, an improved risk assessment method for hybrid AC/DC power system with VSC station considering the operation status of generators, converter stations, AC lines and DC lines is proposed. According to the sequential AC/DC power flow algorithm, node voltage and line active power are solved, and then the operation risk indices of node voltage over-limit and line active power over-limit are calculated. Finally, an improved two-area IEEE RTS-96 system is taken as a case to analyze and assessment its operation risk. The results show that the proposed model and method can intuitively and directly reflect the weak nodes and weak lines of the system, which can provide some reference for the dispatching department.

Development of a dynamical systems model of plant programmatic performance on nuclear power plant safety risk

International Nuclear Information System (INIS)

Hess, Stephen M.; Albano, Alfonso M.; Gaertner, John P.

2005-01-01

Application of probabilistic risk assessment (PRA) techniques to model nuclear power plant accident sequences has provided a significant contribution to understanding the potential initiating events, equipment failures and operator errors that can lead to core damage accidents. Application of the lessons learned from these analyses has resulted in significant improvements in plant operation and safety. However, this approach has not been nearly as successful in addressing the impact of plant processes and management effectiveness on the risks of plant operation. The research described in this paper presents an alternative approach to addressing this issue. In this paper we propose a dynamical systems model that describes the interaction of important plant processes on nuclear safety risk. We discuss development of the mathematical model including the identification and interpretation of significant inter-process interactions. Next, we review the techniques applicable to analysis of nonlinear dynamical systems that are utilized in the characterization of the model. This is followed by a preliminary analysis of the model that demonstrates that its dynamical evolution displays features that have been observed at commercially operating plants. From this analysis, several significant insights are presented with respect to the effective control of nuclear safety risk. As an important example, analysis of the model dynamics indicates that significant benefits in effectively managing risk are obtained by integrating the plant operation and work management processes such that decisions are made utilizing a multidisciplinary and collaborative approach. We note that although the model was developed specifically to be applicable to nuclear power plants, many of the insights and conclusions obtained are likely applicable to other process industries

A study on risk perception toward nuclear power operation in Taiwan

International Nuclear Information System (INIS)

Lee Ciao-tzu; Hu Shiang-ling; Chang, Wushou P.

2000-01-01

Currently, more conflicts appear between the public and government over the establishment of the 4th nuclear power plant in Taiwan. In order to improve risk management by the Society, understanding the risk perception of the public will be essential. A pilot study on the risk perception toward nuclear power operation and other current risks was conducted in summer of 1999. In addition to perception towards nuclear power operation, the survey evaluated several dimensions of health-related risks including smoking, chemical wastes, nuclear wastes, air transportation, AIDS, and food intoxication. The questionnaire was designed to be proceeded under systemic instruction and followed with self-filling. 57 (85.1%) of 67 respondents worked at the Taipei Metropolitan Rapid Transportation, including 62 male subjects (92.5%). 44 (69.8%) respondents favored building the 4th nuclear power plant in Taiwan. The acceptable distance between their houses and the nuclear power plant was 145.13 km in average, as compared with 400 km that of North and South of Taiwan. The mean expenses they are willing to pay to reduce the risk of the NPP is about US $7.73, 0.56% of their average income. However, the levels of risks toward nuclear power operation is significant higher than these for air transportation, smoking, and food intoxication. Government's spending is assumed more effective to reduce the threats from risks of nuclear power operation, rather than professional's or experts' effects. Besides, other related factors include levels of involuntary exposure to NP operation (p<0.001) and number of people potentially in danger (p<0.001). These 2 altitudes are positively correlated with the respondents' perceived risks. Different attitudes toward NP operation within these engineers, and those evaluated by others, are of great interest. Further evaluation will be conducted to compare the mechanism involved. We gratefully acknowledge financial support from the National Science Council

A study on risk perception toward nuclear power operation in Taiwan

Energy Technology Data Exchange (ETDEWEB)

Lee Ciao-tzu; Hu Shiang-ling; Chang, Wushou P. [National Yang-Ming University, Taiwan (China)

2000-05-01

Currently, more conflicts appear between the public and government over the establishment of the 4th nuclear power plant in Taiwan. In order to improve risk management by the Society, understanding the risk perception of the public will be essential. A pilot study on the risk perception toward nuclear power operation and other current risks was conducted in summer of 1999. In addition to perception towards nuclear power operation, the survey evaluated several dimensions of health-related risks including smoking, chemical wastes, nuclear wastes, air transportation, AIDS, and food intoxication. The questionnaire was designed to be proceeded under systemic instruction and followed with self-filling. 57 (85.1%) of 67 respondents worked at the Taipei Metropolitan Rapid Transportation, including 62 male subjects (92.5%). 44 (69.8%) respondents favored building the 4th nuclear power plant in Taiwan. The acceptable distance between their houses and the nuclear power plant was 145.13 km in average, as compared with 400 km that of North and South of Taiwan. The mean expenses they are willing to pay to reduce the risk of the NPP is about US $7.73, 0.56% of their average income. However, the levels of risks toward nuclear power operation is significant higher than these for air transportation, smoking, and food intoxication. Government's spending is assumed more effective to reduce the threats from risks of nuclear power operation, rather than professional's or experts' effects. Besides, other related factors include levels of involuntary exposure to NP operation (p<0.001) and number of people potentially in danger (p<0.001). These 2 altitudes are positively correlated with the respondents' perceived risks. Different attitudes toward NP operation within these engineers, and those evaluated by others, are of great interest. Further evaluation will be conducted to compare the mechanism involved. We gratefully acknowledge financial support from the National

INTRODUCTION TO THE SPECIAL ISSUE ON "OPERATIONAL RESEARCH AND ASIA RISK MANAGEMENT"

OpenAIRE

DESHENG DASH WU; DAVID L. OLSON; LUIS A. SECO; JOHN BIRGE

2011-01-01

Risks are traditionally defined as the combination of probability and severity, but are actually characterized by additional factors. We believe the characteristics of risks include uncertainties, dynamics, dependence, clusterings and complexities, which motivate the utilization of various operational research tools. The objective of this issue is to survey the practice of using operational research tools in risk management, especially Asian risk management.

Modeling Decision Support and Uncertainty using @RISK: The COSIMA-ROAD Model

DEFF Research Database (Denmark)

Salling, Kim Bang; Leleur, Steen

This paper concerns a newly developed software model called COSIMA-ROAD for project evaluation in the Danish road sector. COSIMA-ROAD is developed as a combined effort in co-operation between the Danish Road Directorate and the Technical University of Denmark. The applied case study is developed...... by the Danish Road Directorate. The main purpose of this paper is primarily to describe how @RISK is used in COSIMA-ROAD. First the two main modules of COSIMA-ROAD are described as respectively a traditional cost-benefit analysis (deterministic point estimate) and a risk analysis using Monte Carlo Simulation...

Stochastic Watershed Models for Risk Based Decision Making

Science.gov (United States)

Vogel, R. M.

2017-12-01

Over half a century ago, the Harvard Water Program introduced the field of operational or synthetic hydrology providing stochastic streamflow models (SSMs), which could generate ensembles of synthetic streamflow traces useful for hydrologic risk management. The application of SSMs, based on streamflow observations alone, revolutionized water resources planning activities, yet has fallen out of favor due, in part, to their inability to account for the now nearly ubiquitous anthropogenic influences on streamflow. This commentary advances the modern equivalent of SSMs, termed `stochastic watershed models' (SWMs) useful as input to nearly all modern risk based water resource decision making approaches. SWMs are deterministic watershed models implemented using stochastic meteorological series, model parameters and model errors, to generate ensembles of streamflow traces that represent the variability in possible future streamflows. SWMs combine deterministic watershed models, which are ideally suited to accounting for anthropogenic influences, with recent developments in uncertainty analysis and principles of stochastic simulation

Taking Risks for the Future of Space Weather Forecasting, Research, and Operations

Science.gov (United States)

Jaynes, A. N.; Baker, D. N.; Kanekal, S. G.; Li, X.; Turner, D. L.

2017-12-01

Taking Risks for the Future of Space Weather Forecasting, Research, and Operations The need for highly improved space weather modeling and monitoring is quickly becoming imperative as our society depends ever more on the sensitive technology that builds and connects our world. Instead of relying primarily on tried and true concepts, academic institutions and funding agencies alike should be focusing on truly new and innovative ways to solve this pressing problem. In this exciting time, where student-led groups can launch CubeSats for under a million dollars and companies like SpaceX are actively reducing the cost-cap of access to space, the space physics community should be pushing the boundaries of what is possible to enhance our understanding of the space environment. Taking great risks in instrumentation, mission concepts, operational development, collaborations, and scientific research is the best way to move our field forward to where it needs to be for the betterment of science and society.

Risk analysis of releases from accidents during mid-loop operation at Surry

International Nuclear Information System (INIS)

Jo, J.; Lin, C.C.; Nimnual, S.; Mubayi, V.; Neymotin, L.

1992-11-01

Studies and operating experience suggest that the risk of severe accidents during low power operation and/or shutdown (LP/S) conditions could be a significant fraction of the risk at full power operation. Two studies have begun at the Nuclear Regulatory Commission (NRC) to evaluate the severe accident progression from a risk perspective during these conditions: One at the Brookhaven National Laboratory for the Surry plant, a pressurized water reactor (PWR), and the other at the Sandia National Laboratories for the Grand Gulf plant, a boiling water reactor (BWR). Each of the studies consists of three linked, but distinct, components: a Level I probabilistic risk analysis (PRA) of the initiating events, systems analysis, and accident sequences leading to core damage; a Level 2/3 analysis of accident progression, fuel damage, releases, containment performance, source term and consequences-off-site and on-site; and a detailed Human Reliability Analysis (HRA) of actions relevant to plant conditions during LP/S operations. This paper summarizes the approach taken for the Level 2/3 analysis at Surry and provides preliminary results on the risk of releases and consequences for one plant operating state, mid-loop operation, during shutdown

Modelling arithmetic operations

Energy Technology Data Exchange (ETDEWEB)

Shabanov-kushnarenk, Yu P

1981-01-01

The possibility of modelling finite alphabetic operators using formal intelligence theory, is explored, with the setting up of models of a 3-digit adder and a multidigit subtractor, as examples. 2 references.

Mental models of the operator

International Nuclear Information System (INIS)

Stary, I.

2004-01-01

A brief explanation is presented of the mental model concept, properties of mental models and fundamentals of mental models theory. Possible applications of such models in nuclear power plants are described in more detail. They include training of power plant operators, research into their behaviour and design of the operator-control process interface. The design of a mental model of an operator working in abnormal conditions due to power plant malfunction is outlined as an example taken from the literature. The model has been created based on analysis of experiments performed on a nuclear power plant simulator, run by a training center. (author)

Risk-based configuration control: Application of PSA in improving technical specifications and operational safety

International Nuclear Information System (INIS)

Samanta, P.K.; Kim, I.S.; Vesely, W.E.

1992-01-01

Risk-based configuration control is the management of component configurations using a risk perspective to control risk and assure safety. A configuration, as used here, is a set of component operability statuses that define the state of a nuclear power plant. If the component configurations that have high risk implications do not occur, then the risk from the operation of nuclear power plants would be minimal. The control of component configurations, i.e., the management of component statuses, to minimize the risk from components being unavailable, becomes difficult, because the status of a standby safety system component is often not apparent unless it is tested. Controlling plant configuration from a risk-perspective can provide more direct risk control and also more operational flexibility by allowing looser controls in areas unimportant to risk. Risk-based configuration control approaches can be used to replace parts of nuclear power plant Technical Specifications. With the advances in probabilistic safety assessment (PSA) technology, such approaches to improve Technical Specifications and operational safety are feasible. In this paper, we present an analysis of configuration risks, and a framework for risk-based configuration control to achieve the desired control of risk-significant configurations during plant operation

Risk-Based Operation and Maintenance of Offshore Wind Turbines

DEFF Research Database (Denmark)

Nielsen, Jannie Jessen; Sørensen, John Dalsgaard

2009-01-01

For offshore wind turbines costs to operation and maintenance are substantial. This paper describes a risk-based lifecycle approach for optimal planning of operation and maintenance. The approach is based on pre-posterior Bayesian decision theory. Deterioration mechanisms such as fatigue, corrosion...

Business operations and decommissioning strategy for imperial college London research reactor 'Consort' - A financial risk management approach

International Nuclear Information System (INIS)

Franklin, S.J.; Gardner, D.; Mumford, J.; Lea, R.; Knight, J.

2005-01-01

Imperial College London (IC) operates commercially a 100 kW research reactor, and as site licensee is responsible for funding both operations and eventual decommissioning. With long lead times ahead urgent decisions on the future business options have had to be made in 2004/5 including choices on whether to move to early decommissioning, recognising the high costs entailed, or to pursue continuing operations involving life extension measures such as refuelling. To develop a coherent overall approach strategy a financial risk driven programme was initiated to help define a robust transparent business and termination case for the reactor. This study was carried out in collaboration with a UK firm of financial risk experts, PURE Risk Management Ltd (PURE), working within a dedicated IC London reactor project team. This work evaluated immediate closure options due to financial constraints or life limiting failures, and options for continuing operation extending to 2028. Decommissioning and clean up were reviewed. Bespoke financial models created single value cost outputs and ranges of probabilistic net present values (NPV) for decommissioning costs and financial provisions to meet those costs at various levels of risk acceptance and regulatory compliance. (author)

Operational monitoring and forecasting of bathing water quality through exploiting satellite Earth observation and models: The AlgaRisk demonstration service

Science.gov (United States)

Shutler, J. D.; Warren, M. A.; Miller, P. I.; Barciela, R.; Mahdon, R.; Land, P. E.; Edwards, K.; Wither, A.; Jonas, P.; Murdoch, N.; Roast, S. D.; Clements, O.; Kurekin, A.

2015-04-01

Coastal zones and shelf-seas are important for tourism, commercial fishing and aquaculture. As a result the importance of good water quality within these regions to support life is recognised worldwide and a number of international directives for monitoring them now exist. This paper describes the AlgaRisk water quality monitoring demonstration service that was developed and operated for the UK Environment Agency in response to the microbiological monitoring needs within the revised European Union Bathing Waters Directive. The AlgaRisk approach used satellite Earth observation to provide a near-real time monitoring of microbiological water quality and a series of nested operational models (atmospheric and hydrodynamic-ecosystem) provided a forecast capability. For the period of the demonstration service (2008-2013) all monitoring and forecast datasets were processed in near-real time on a daily basis and disseminated through a dedicated web portal, with extracted data automatically emailed to agency staff. Near-real time data processing was achieved using a series of supercomputers and an Open Grid approach. The novel web portal and java-based viewer enabled users to visualise and interrogate current and historical data. The system description, the algorithms employed and example results focussing on a case study of an incidence of the harmful algal bloom Karenia mikimotoi are presented. Recommendations and the potential exploitation of web services for future water quality monitoring services are discussed.

A review of operational risk in banks and its role in the financial crisis

Directory of Open Access Journals (Sweden)

Erika de Jongh

2013-11-01

Full Text Available The role of operational risk in the 2007/2008 financial crisis is explored. The factors that gave rise to the crisis are examined and it is found that although the event is largely regarded as a credit crisis, operational risk factors played a significant role in fuelling its duration and severity. It is concluded that, from an operational risk perspective, 2008 was the worst on record. Considering the extensive role of operational risk in global financial calamities, suggestions are made to improve the management of this risk type.

Breast cancer risks and risk prediction models.

Science.gov (United States)

Engel, Christoph; Fischer, Christine

2015-02-01

BRCA1/2 mutation carriers have a considerably increased risk to develop breast and ovarian cancer. The personalized clinical management of carriers and other at-risk individuals depends on precise knowledge of the cancer risks. In this report, we give an overview of the present literature on empirical cancer risks, and we describe risk prediction models that are currently used for individual risk assessment in clinical practice. Cancer risks show large variability between studies. Breast cancer risks are at 40-87% for BRCA1 mutation carriers and 18-88% for BRCA2 mutation carriers. For ovarian cancer, the risk estimates are in the range of 22-65% for BRCA1 and 10-35% for BRCA2. The contralateral breast cancer risk is high (10-year risk after first cancer 27% for BRCA1 and 19% for BRCA2). Risk prediction models have been proposed to provide more individualized risk prediction, using additional knowledge on family history, mode of inheritance of major genes, and other genetic and non-genetic risk factors. User-friendly software tools have been developed that serve as basis for decision-making in family counseling units. In conclusion, further assessment of cancer risks and model validation is needed, ideally based on prospective cohort studies. To obtain such data, clinical management of carriers and other at-risk individuals should always be accompanied by standardized scientific documentation.

Systemic Thinking and Requisite Holism in Mastering Logistics Risks: the Model for Identifying Risks in Organisations and Supply Chain

OpenAIRE

Borut Jereb; Teodora Ivanuša; Bojan Rosi

2013-01-01

Risks in logistic processes represent one of the major issues in supply chain management nowadays. Every organization strives for success, and uninterrupted operations are the key factors in achieving this goal, which cannot be achieved without efficient risk management. In the scope of supply chain risk research, we identified some key issues in the field, the major issue being the lack of standardization and models, which can make risk management in an organization easier and more efficient...

Academic Education Chain Operation Model

OpenAIRE

Ruskov, Petko; Ruskov, Andrey

2007-01-01

This paper presents an approach for modelling the educational processes as a value added chain. It is an attempt to use a business approach to interpret and compile existing business and educational processes towards reference models and suggest an Academic Education Chain Operation Model. The model can be used to develop an Academic Chain Operation Reference Model.

Operational Risk Assessment and Management in Small and Medium-sized Enterprises

Directory of Open Access Journals (Sweden)

Viktorija Stasytytė

2015-07-01

Full Text Available Modern organizations have raised a need to actively and quickly react to the changes in external business environment, as well as in internal processes considering not only the present situation, but also evaluating possible changes and forecasting the future. Enterprise risk assessment and management, which is strongly related with foreseeing the uncertain future, becomes topical not only scientifically, but also practically seeking to reveal new and unique solutions. Operational risk management in small and medium enterprises, creating the largest part of value added in the whole European Union, demands a separate attention and coordinated decisions and means. The objective of the paper – to analyse the process of enterprise risk management in small and medium-sized enterprises, as well as to propose adequate risk management solutions for these companies. After performing a research, it was found out that small and medium enterprises more than big organizations require a risk management strategy and methodology, need to distinguish activity objectives and events influencing them, and they can efficiently apply a risk portfolio method to manage risk. In small and medium enterprises it is recommended to incorporate a risk management system based on COSO ERM model that can be modified depending on company needs and possibilities, turning it into less formal and structured and easily applicable.

MAPPING FRAUD RISK IN FINANCIAL AUDIT – SALES OPERATIONS

Directory of Open Access Journals (Sweden)

Ioan RADU

2013-10-01

Full Text Available This paper provides an effective tool «fraud risk map« for organizations and auditors in mathematic assessment procedures, with real, tangible results, regarding the organization’s fraud risk exposure. Overcoming the fade and purely theoretical risk assessment methods («based on professional judgement – risk: high, medium, low«, the paper presents risk indicators as warning signals and quantitative and qualitative methods for risk assessment. Illustrating scalability methods and developping a practical tools for material misstatement of the economic entity financial statements, the case study presented, on sales operations, brigs added value to auditors work in the fraud risk assessment procedures.

Modeling logistic performance in quantitative microbial risk assessment.

Science.gov (United States)

Rijgersberg, Hajo; Tromp, Seth; Jacxsens, Liesbeth; Uyttendaele, Mieke

2010-01-01

In quantitative microbial risk assessment (QMRA), food safety in the food chain is modeled and simulated. In general, prevalences, concentrations, and numbers of microorganisms in media are investigated in the different steps from farm to fork. The underlying rates and conditions (such as storage times, temperatures, gas conditions, and their distributions) are determined. However, the logistic chain with its queues (storages, shelves) and mechanisms for ordering products is usually not taken into account. As a consequence, storage times-mutually dependent in successive steps in the chain-cannot be described adequately. This may have a great impact on the tails of risk distributions. Because food safety risks are generally very small, it is crucial to model the tails of (underlying) distributions as accurately as possible. Logistic performance can be modeled by describing the underlying planning and scheduling mechanisms in discrete-event modeling. This is common practice in operations research, specifically in supply chain management. In this article, we present the application of discrete-event modeling in the context of a QMRA for Listeria monocytogenes in fresh-cut iceberg lettuce. We show the potential value of discrete-event modeling in QMRA by calculating logistic interventions (modifications in the logistic chain) and determining their significance with respect to food safety.

Risk-based decision analysis for the 200-BP-5 groundwater operable unit. Revision 2

International Nuclear Information System (INIS)

Chiaramonte, G.R.

1996-02-01

This document presents data from a risk analysis that was performed on three groundwater contaminant plumes within the 200-BP-5 Operable Unit. Hypothetical exposure scenarios were assessed based on current and future plume conditions. For current conditions, a hypothetical industrial groundwater scenarios were assumed. The industrial ingestion scenario, which is derived from HSRAM, was not used for drinking water and should not be implied by this risk analysis that the DOE is advocating use of this groundwater for direct human ingestion. Risk was calculated at each monitoring well using the observed radionuclide concentrations in groundwater from that well. The calculated values represent total radiological incremental lifetime cancer risk. Computer models were used to show the analytical flow and transport of contaminants of concern

Risk matrix model applied to the outsourcing of logistics' activities

Directory of Open Access Journals (Sweden)

Fouad Jawab

2015-09-01

Full Text Available Purpose: This paper proposes the application of the risk matrix model in the field of logistics outsourcing. Such an application can serve as the basis for decision making regarding the conduct of a risk management in the logistics outsourcing process and allow its prevention. Design/methodology/approach: This study is based on the risk management of logistics outsourcing in the field of the retail sector in Morocco. The authors identify all possible risks and then classify and prioritize them using the Risk Matrix Model. Finally, we have come to four possible decisions for the identified risks. The analysis was made possible through interviews and discussions with the heads of departments and agents who are directly involved in each outsourced activity. Findings and Originality/value: It is possible to improve the risk matrix model by proposing more personalized prevention measures according to each company that operates in the mass-market retailing. Originality/value: This study is the only one made in the process of logistics outsourcing in the retail sector in Morocco through Label’vie as a case study. First, we had identified as thorough as we could all possible risks, then we applied the Risk Matrix Model to sort them out in an ascending order of importance and criticality. As a result, we could hand out to the decision-makers the mapping for an effective control of risks and a better guiding of the process of risk management.

The System Cost Model: A tool for life cycle cost and risk analysis

International Nuclear Information System (INIS)

Hsu, K.; Lundeen, A.; Shropshire, D.; Sherick, M.

1996-01-01

In May of 1994, Lockheed Idaho Technologies Company (LITCO) in Idaho Falls, Idaho and subcontractors began development of the System Cost Model (SCM) application. The SCM estimates life cycle costs of the entire US Department of Energy (DOE) complex for designing; constructing; operating; and decommissioning treatment, storage, and disposal (TSD) facilities for mixed low-level, low-level, and transuranic waste. The SCM uses parametric cost functions to estimate life cycle costs for various treatment, storage, and disposal modules which reflect planned and existing waste management facilities at DOE installations. In addition, SCM can model new TSD facilities based on capacity needs over the program life cycle. The user can provide input data (default data is included in the SCM) including the volume and nature of waste to be managed, the time period over which the waste is to be managed, and the configuration of the waste management complex (i.e., where each installation's generated waste will be treated, stored, and disposed). Then the SCM uses parametric cost equations to estimate the costs of pre-operations (designing), construction, operations and maintenance, and decommissioning these waste management facilities. The SCM also provides transportation costs for DOE wastes. Transportation costs are provided for truck and rail and include transport of contact-handled, remote-handled, and alpha (transuranic) wastes. A complement to the SCM is the System Cost Model-Risk (SCM-R) model, which provides relative Environmental, Safety, and Health (ES and H) risk information. A relative ES and H risk basis has been developed and applied by LITCO at the INEL. The risk basis is now being automated in the SCM-R to facilitate rapid risk analysis of system alternatives. The added risk functionality will allow combined cost and risk evaluation of EM alternatives

Modeling risk assessment for nuclear processing plants with LAVA

International Nuclear Information System (INIS)

Smith, S.T.; Tisinger, R.M.

1988-01-01

Using the Los Alamos Vulnerability and Risk Assessment (LAVA) methodology, the authors developed a model for assessing risks associated with nuclear processing plants. LAVA is a three-part systematic approach to risk assessment. The first part is the mathematical methodology; the second is the general personal computer-based software engine; and the third is the application itself. The methodology provides a framework for creating applications for the software engine to operate upon; all application-specific information is data. Using LAVA, the authors build knowledge-based expert systems to assess risks in applications systems comprising a subject system and a safeguards system. The subject system model is sets of threats, assets, and undesirable outcomes. The safeguards system model is sets of safeguards functions for protecting the assets from the threats by preventing or ameliorating the undesirable outcomes, sets of safeguards subfunctions whose performance determine whether the function is adequate and complete, and sets of issues, appearing as interactive questionnaires, whose measures (in both monetary and linguistic terms) define both the weaknesses in the safeguards system and the potential costs of an undesirable outcome occurring

Model based climate information on drought risk in Africa

Science.gov (United States)

Calmanti, S.; Syroka, J.; Jones, C.; Carfagna, F.; Dell'Aquila, A.; Hoefsloot, P.; Kaffaf, S.; Nikulin, G.

2012-04-01

The United Nations World Food Programme (WFP) has embarked upon the endeavor of creating a sustainable Africa-wide natural disaster risk management system. A fundamental building block of this initiative is the setup of a drought impact modeling platform called Africa Risk-View that aims to quantify and monitor weather-related food security risk in Africa. The modeling approach is based the Water Requirement Satisfaction Index (WRSI), as the fundamental indicator of the performances of agriculture and uses historical records of food assistance operation to project future potential needs for livelihood protection. By using climate change scenarios as an input to Africa Risk-View it is possible, in principles, to evaluate the future impact of climate variability on critical issues such as food security and the overall performance of the envisaged risk management system. A necessary preliminary step to this challenging task is the exploration of the sources of uncertainties affecting the assessment based on modeled climate change scenarios. For this purpose, a limited set of climate models have been selected in order verify the relevance of using climate model output data with Africa Risk-View and to explore a minimal range of possible sources of uncertainty. This first evaluation exercise started before the setup of the CORDEX framework and has relied on model output available at the time. In particular only one regional downscaling was available for the entire African continent from the ENSEMBLES project. The analysis shows that current coarse resolution global climate models can not directly feed into the Africa RiskView risk-analysis tool. However, regional downscaling may help correcting the inherent biases observed in the datasets. Further analysis is performed by using the first data available under the CORDEX framework. In particular, we consider a set of simulation driven with boundary conditions from the reanalysis ERA-Interim to evaluate the skill drought

Reliability analysis and operator modelling

International Nuclear Information System (INIS)

Hollnagel, Erik

1996-01-01

The paper considers the state of operator modelling in reliability analysis. Operator models are needed in reliability analysis because operators are needed in process control systems. HRA methods must therefore be able to account both for human performance variability and for the dynamics of the interaction. A selected set of first generation HRA approaches is briefly described in terms of the operator model they use, their classification principle, and the actual method they propose. In addition, two examples of second generation methods are also considered. It is concluded that first generation HRA methods generally have very simplistic operator models, either referring to the time-reliability relationship or to elementary information processing concepts. It is argued that second generation HRA methods must recognise that cognition is embedded in a context, and be able to account for that in the way human reliability is analysed and assessed

Risk assessment and remedial policy evaluation using predictive modeling

International Nuclear Information System (INIS)

Linkov, L.; Schell, W.R.

1996-01-01

As a result of nuclear industry operation and accidents, large areas of natural ecosystems have been contaminated by radionuclides and toxic metals. Extensive societal pressure has been exerted to decrease the radiation dose to the population and to the environment. Thus, in making abatement and remediation policy decisions, not only economic costs but also human and environmental risk assessments are desired. This paper introduces a general framework for risk assessment and remedial policy evaluation using predictive modeling. Ecological risk assessment requires evaluation of the radionuclide distribution in ecosystems. The FORESTPATH model is used for predicting the radionuclide fate in forest compartments after deposition as well as for evaluating the efficiency of remedial policies. Time of intervention and radionuclide deposition profile was predicted as being crucial for the remediation efficiency. Risk assessment conducted for a critical group of forest users in Belarus shows that consumption of forest products (berries and mushrooms) leads to about 0.004% risk of a fatal cancer annually. Cost-benefit analysis for forest cleanup suggests that complete removal of organic layer is too expensive for application in Belarus and a better methodology is required. In conclusion, FORESTPATH modeling framework could have wide applications in environmental remediation of radionuclides and toxic metals as well as in dose reconstruction and, risk-assessment

Preparing Safety Cases for Operating Outside Prescriptive Fatigue Risk Management Regulations.

Science.gov (United States)

Gander, Philippa; Mangie, Jim; Wu, Lora; van den Berg, Margo; Signal, Leigh; Phillips, Adrienne

2017-07-01

Transport operators seeking to operate outside prescriptive fatigue management regulations are typically required to present a safety case justifying how they will manage the associated risk. This paper details a method for constructing a successful safety case. The method includes four elements: 1) scope (prescriptive rules and operations affected); 2) risk assessment; 3) risk mitigation strategies; and 4) monitoring ongoing risk. A successful safety case illustrates this method. It enables landing pilots in 3-pilot crews to choose the second or third in-flight rest break, rather than the regulatory requirement to take the third break. Scope was defined using a month of scheduled flights that would be covered (N = 4151). These were analyzed in the risk assessment using existing literature on factors affecting fatigue to estimate the maximum time awake at top of descent and sleep opportunities in each break. Additionally, limited data collected before the new regulations showed that pilots flying at landing chose the third break on only 6% of flights. A prospective survey comparing subjective reports (N = 280) of sleep in the second vs. third break and fatigue and sleepiness ratings at top of descent confirmed that the third break is not consistently superior. The safety case also summarized established systems for fatigue monitoring, risk assessment and hazard identification, and multiple fatigue mitigation strategies that are in place. Other successful safety cases have used this method. The evidence required depends on the expected level of risk and should evolve as experience with fatigue risk management systems builds.Gander P, Mangie J, Wu L, van den Berg M, Signal L, Phillips A. Preparing safety cases for operating outside prescriptive fatigue risk management regulations. Aerosp Med Hum Perform. 2017; 88(7):688-696.

Operational risk in bank governance and control: How to save capital requirement through a risk transfer strategy. Evidences from a simulated case study

Directory of Open Access Journals (Sweden)

Enzo Scannella

2015-06-01

Full Text Available Operational risk management in banking has assumed such importance during the last decade. It has become increasingly important to measure, manage, and assess the impact of operational risk in the economics of banking. The purpose of this paper is to demonstrate how an effective operational risk management provides mitigating effects on capital-at-risk in banking. The paper provides evidences that an implementation of an operational risk transfer strategy reduces bank capital requirement. The paper adopts the loss distribution approach, the Monte Carlo simulation, and copula methodologies to estimate the regulatory capital and simulate an operational risk transfer strategy in banking.

Time-based collision risk modeling for air traffic management

Science.gov (United States)

Bell, Alan E.

Since the emergence of commercial aviation in the early part of last century, economic forces have driven a steadily increasing demand for air transportation. Increasing density of aircraft operating in a finite volume of airspace is accompanied by a corresponding increase in the risk of collision, and in response to a growing number of incidents and accidents involving collisions between aircraft, governments worldwide have developed air traffic control systems and procedures to mitigate this risk. The objective of any collision risk management system is to project conflicts and provide operators with sufficient opportunity to recognize potential collisions and take necessary actions to avoid them. It is therefore the assertion of this research that the currency of collision risk management is time. Future Air Traffic Management Systems are being designed around the foundational principle of four dimensional trajectory based operations, a method that replaces legacy first-come, first-served sequencing priorities with time-based reservations throughout the airspace system. This research will demonstrate that if aircraft are to be sequenced in four dimensions, they must also be separated in four dimensions. In order to separate aircraft in four dimensions, time must emerge as the primary tool by which air traffic is managed. A functional relationship exists between the time-based performance of aircraft, the interval between aircraft scheduled to cross some three dimensional point in space, and the risk of collision. This research models that relationship and presents two key findings. First, a method is developed by which the ability of an aircraft to meet a required time of arrival may be expressed as a robust standard for both industry and operations. Second, a method by which airspace system capacity may be increased while maintaining an acceptable level of collision risk is presented and demonstrated for the purpose of formulating recommendations for procedures

The construction of power grid operation index system considering the risk of maintenance

Science.gov (United States)

Tang, Jihong; Wang, Canlin; Jiang, Xinfan; Ye, Jianhui; Pan, Feilai

2018-02-01

In recent years, large-scale blackout occurred at home and abroad caused widespread concern about the operation of the grid in the world, and the maintenance risk is an important indicator of grid safety. The barrier operation of the circuit breaker exists in the process of overhaul of the power grid. The operation of the different barrier is of great significance to the change of the power flow, thus affecting the safe operation of the system. Most of the grid operating status evaluation index system did not consider the risk of maintenance, to this end, this paper from the security, economy, quality and cleanliness of the four angles, build the power grid operation index system considering the risk of maintenance.

PRESSCA: A regional operative Early Warning System for landslides risk scenario assessment

Science.gov (United States)

Ponziani, Francesco; Stelluti, Marco; Berni, Nicola; Brocca, Luca; Moramarco, Tommaso

2013-04-01

The Italian national alert system for the hydraulic and hydrogeological risk is ensured by the National Civil Protection Department, through the "Functional Centres" Network, together with scientific/technical Support Centres, named "Competence Centres". The role of the Functional Centres is to alert regional/national civil protection network, to manage the prediction and the monitoring phases, thus ensuring the flow of data for the management of the emergency. The Umbria regional alerting procedure is based on three increasing warning levels of criticality for 6 sub-areas (~1200 km²). Specifically, for each duration (from 1 to 48 hours), three criticality levels are assigned to the rainfall values corresponding to a recurrence interval of 2, 5, and 10 years. In order to improve confidence on the daily work for hydrogeological risk assessment and management, a simple and operational early warning system for the prediction of shallow landslide triggering on regional scale was implemented. The system is primarily based on rainfall thresholds, which represent the main element of evaluation for the early-warning procedures of the Italian Civil Protection system. Following previous studies highlighting that soil moisture conditions play a key role on landslide triggering, a continuous physically-based soil water balance model was implemented for the estimation of soil moisture conditions over the whole regional territory. In fact, a decreasing trend between the cumulated rainfall values over 24, 36 and 48 hours and the soil moisture conditions prior to past landslide events was observed. This trend provides an easy-to-use tool to dynamically adjust the operational rainfall thresholds with the soil moisture conditions simulated by the soil water balance model prior to rainfall events. The application of this procedure allowed decreasing the uncertainties tied to the application of the rainfall thresholds only. The system is actually operational in real-time and it was

Risk Analysis for Unintentional Slide Deployment During Airline Operations.

Science.gov (United States)

Ayra, Eduardo S; Insua, David Ríos; Castellanos, María Eugenia; Larbi, Lydia

2015-09-01

We present a risk analysis undertaken to mitigate problems in relation to the unintended deployment of slides under normal operations within a commercial airline. This type of incident entails relevant costs for the airline industry. After assessing the likelihood and severity of its consequences, we conclude that such risks need to be managed. We then evaluate the effectiveness of various countermeasures, describing and justifying the chosen ones. We also discuss several issues faced when implementing and communicating the proposed measures, thus fully illustrating the risk analysis process. © 2015 Society for Risk Analysis.

On Modeling Risk Shocks

OpenAIRE

Dorofeenko, Victor; Lee, Gabriel; Salyer, Kevin; Strobel, Johannes

2016-01-01

Within the context of a financial accelerator model, we model time-varying uncertainty (i.e. risk shocks) through the use of a mixture Normal model with time variation in the weights applied to the underlying distributions characterizing entrepreneur productivity. Specifically, we model capital producers (i.e. the entrepreneurs) as either low-risk (relatively small second moment for productivity) and high-risk (relatively large second moment for productivity) and the fraction of both types is...

Contribution to modeling and dynamic risk hedging in energy markets

International Nuclear Information System (INIS)

Noufel, Frikha

2010-12-01

This thesis is concerned with probabilistic numerical problems about modeling, risk control and risk hedging motivated by applications to energy markets. The main tool is based on stochastic approximation and simulation methods. This thesis consists of three parts. The first one is devoted to the computation of two risk measures of the portfolio loss distribution L: the Value-at-Risk (VaR) and the Conditional Value-at-Risk (CVaR). This computation uses a stochastic algorithm combined with an adaptive variance reduction technique. The first part of this chapter deals with the finite dimensional case, the second part extends the results of the first part to the case of a path-dependency process and the last one deals low discrepancy sequences. The second chapter is devoted with risk minimizing hedging strategies in an incomplete market operating in discrete time using quantization based stochastic approximation. Theoretical results on CVaR hedging are presented then numerical aspects are addressed in a Markovian framework. The last part deals with joint modeling of Gas and Electricity spot prices. The multi-factor model presented is based on stationary Ornstein process with parameterized diffusion coefficient. (author)

Systemic Thinking and Requisite Holism in Mastering Logistics Risks: the Model for Identifying Risks in Organisations and Supply Chain

Directory of Open Access Journals (Sweden)

Bojan Rosi

2013-02-01

Full Text Available Risks in logistic processes represent one of the major issues in supply chain management nowadays. Every organization strives for success, and uninterrupted operations are the key factors in achieving this goal, which cannot be achieved without efficient risk management. In the scope of supply chain risk research, we identified some key issues in the field, the major issue being the lack of standardization and models, which can make risk management in an organization easier and more efficient. Consequently, we developed a model, which captures and identifies risks in an organization and its supply chain. It is in accordance with the general risk management standard – ISO 31000, and incorporates some relevant recent findings from general and supply chain risk management, especially from the viewpoint of public segmentation. This experimental catalogue (which is also published online can serve as a checklist and a starting point of supply chain risk management in organizations. Its main idea is cooperation between experts from the area in order to compile an ever-growing list of possible risks and to provide an insight in the model and its value in practice, for which reason input and opinions of anyone who uses our model are greatly appreciated and included in the catalogue.

Contrasting safety assessments of a runway incursion scenario: Event sequence analysis versus multi-agent dynamic risk modelling

International Nuclear Information System (INIS)

Stroeve, Sybert H.; Blom, Henk A.P.; Bakker, G.J.

2013-01-01

In the safety literature it has been argued, that in a complex socio-technical system safety cannot be well analysed by event sequence based approaches, but requires to capture the complex interactions and performance variability of the socio-technical system. In order to evaluate the quantitative and practical consequences of these arguments, this study compares two approaches to assess accident risk of an example safety critical sociotechnical system. It contrasts an event sequence based assessment with a multi-agent dynamic risk model (MA-DRM) based assessment, both of which are performed for a particular runway incursion scenario. The event sequence analysis uses the well-known event tree modelling formalism and the MA-DRM based approach combines agent based modelling, hybrid Petri nets and rare event Monte Carlo simulation. The comparison addresses qualitative and quantitative differences in the methods, attained risk levels, and in the prime factors influencing the safety of the operation. The assessments show considerable differences in the accident risk implications of the performance of human operators and technical systems in the runway incursion scenario. In contrast with the event sequence based results, the MA-DRM based results show that the accident risk is not manifest from the performance of and relations between individual human operators and technical systems. Instead, the safety risk emerges from the totality of the performance and interactions in the agent based model of the safety critical operation considered, which coincides very well with the argumentation in the safety literature.

Construction of Site Risk Model using Individual Unit Risk Model in a NPP Site

Energy Technology Data Exchange (ETDEWEB)

Lim, Ho Gon; Han, Sang Hoon [KAERI, Daejeon (Korea, Republic of)

2016-05-15

Since Fukushima accident, strong needs to estimate site risk has been increased to identify the possibility of re-occurrence of such a tremendous disaster and prevent such a disaster. Especially, in a site which has large fleet of nuclear power plants, reliable site risk assessment is very emergent to confirm the safety. In Korea, there are several nuclear power plant site which have more than 6 NPPs. In general, risk model of a NPP in terms of PSA is very complicated and furthermore, it is expected that the site risk model is more complex than that. In this paper, the method for constructing site risk model is proposed by using individual unit risk model. Procedure for the development of site damage (risk) model was proposed in the present paper. Since the site damage model is complicated in the sense of the scale of the system and dependency of the components of the system, conventional method may not be applicable in many side of the problem.

The nuclear industry's transition to risk-informed regulation and operation in the United States

International Nuclear Information System (INIS)

Kadak, Andrew C.; Matsuo, Toshihiro

2007-01-01

This paper summarizes a study of the transition of the United States nuclear industry from a prescriptive regulatory structure to a more risk informed approach to operations and regulations. The transition occurred over a 20 yr period in which gradual changes were made in the fundamental regulations and to the approach to nuclear safety and operations. While the number of actual regulatory changes were few, they are continuing. The utilities that embraced risk informed operations made dramatic changes in the way they approached operations and outage management. Those utilities that used risk in operations showed dramatic improvement in safety based on Institute of Nuclear Power Operations (INPO) performance indicators. It was also shown that the use of risk did not negatively affect safety performance of the plants compared to standard prescriptive approaches. This was despite having greater flexibility in compliance to regulatory standards and the use of the newly instituted risk-informed reactor oversight process. Key factors affecting the successful transition to a more risk-informed approach to regulations and operations are: strong top management support and leadership both at the regulator and the utility; education and training in risk principles and probabilistic risk Assessment tools for engineers, operators and maintenance staff; a slow and steady introduction of risk initiatives in areas that can show value to both the regulator and the industry; a transparent regulatory foundation built around a safety goal policy and the development of a strong safety culture at the utility to allow for more independence in safety compliance and risk management. The experience of the United States shows positive results in both safety and economics. The INPO and NRC metrics presented show that the use of risk information in operations and regulation is marginally better with no degradation in safety when plants that have embraced risk-informed approaches are compared

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

Directory of Open Access Journals (Sweden)

Xia Hanyu

2016-01-01

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

A Linkage Model of Supply Chain Operation and Financial Performance for Economic Sustainability of Firm

Directory of Open Access Journals (Sweden)

Suk Ho Jin

2017-01-01

Full Text Available Although several studies have explored the relationship between the operation and performance of a supply chain (SC, a general SC model cannot deliver the expected financial results at a company-wide level. In this paper, we argue that this cannot guarantee the maximization of a firm’s overall value because short-term financial performance metrics do not reflect the risk to businesses and the invested capital. Owing to the varying natures of risk and the capital invested, firms with multiple divisions should assess each division separately, and the results can be compared for decisions concerning the allocation of the firm’s capital and resources to maximize the overall value of its businesses. We propose a linkage model to consider operational activities and financial performance simultaneously in a firm’s supply chain model. To exhibit the superiority of the proposed model that connects SC operation and financial indicators, we first compare the differences between models for maximizing profit and enterprise-wise economic value added (EVA as objective functions. To examine uncertainty in the operational and financial parameters of the SC, the results of sensitivity analyses are then reported. Experimental results showed that our model, using the EVA approach, is more effective and superior in terms of maximizing the firm’s overall value from the long-term perspective while satisfying the target values for financial ratios set by the firm’s executives and shareholders for all periods, unlike the results of the general model.

A risk evaluation model using on-site meteorological data

International Nuclear Information System (INIS)

Kang, C.S.

1979-01-01

A model is considered in order to evaluate the potential risk from a nuclear facility directly combining the on site meteorological data. The model is utilized to evaluate the environmental consequences from the routine releases during normal plant operation as well as following postulated accidental releases. The doses to individual and risks to the population-at-large are also analyzed in conjunction with design of rad-waste management and safety systems. It is observed that the conventional analysis, which is done in two separate unaffiliated phases of releases and atmospheric dispersion tends to result in unnecessary over-design of the systems because of high resultant doses calculated by multiplication of two extreme values. (author)

Risk-based configuration control: Application of PRA in improving technical specifications and operational safety

International Nuclear Information System (INIS)

Samanta, P.K.; Kim, I.S.; Vesely, W.E.

1991-01-01

The objective of risk-based configuration control is to detect and control plant configurations form a risk perspective. The configurations of particular interest involve components which are down during power operation. Controlling plant configurations from a risk-perspective can provide more direct risk control and also more operational flexibility by allowing looser control in areas unimportant to risk

Risk-based safety indicators

International Nuclear Information System (INIS)

Sedlak, J.

2001-12-01

The report is structured as follows: 1. Risk-based safety indicators: Typology of risk-based indicators (RBIs); Tools for defining RBIs; Requirements for the PSA model; Data sources for RBIs; Types of risks monitored; RBIs and operational safety indicators; Feedback from operating experience; PSO model modification for RBIs; RBI categorization; RBI assessment; RBI applications; Suitable RBI applications. 2. Proposal for risk-based indicators: Acquiring information from operational experience; Method of acquiring safety relevance coefficients for the systems from a PSA model; Indicator definitions; On-line indicators. 3. Annex: Application of RBIs worldwide. (P.A.)

Revenue Risk Modelling and Assessment on BOT Highway Project

Science.gov (United States)

Novianti, T.; Setyawan, H. Y.

2018-01-01

The infrastructure project which is considered as a public-private partnership approach under BOT (Build-Operate-Transfer) arrangement, such as a highway, is risky. Therefore, assessment on risk factors is essential as the project have a concession period and is influenced by macroeconomic factors and consensus period. In this study, pre-construction risks of a highway were examined by using a Delphi method to create a space for offline expert discussions; a fault tree analysis to map intuition of experts and to create a model from the underlying risk events; a fuzzy logic to interpret the linguistic data of risk models. The loss of revenue for risk tariff, traffic volume, force majeure, and income were then measured. The results showed that the loss of revenue caused by the risk tariff was 10.5% of the normal total revenue. The loss of revenue caused by the risk of traffic volume was 21.0% of total revenue. The loss of revenue caused by the force majeure was 12.2% of the normal income. The loss of income caused by the non-revenue events was 6.9% of the normal revenue. It was also found that the volume of traffic was the major risk of a highway project because it related to customer preferences.

Custom v. Standardized Risk Models

Directory of Open Access Journals (Sweden)

Zura Kakushadze

2015-05-01

Full Text Available We discuss when and why custom multi-factor risk models are warranted and give source code for computing some risk factors. Pension/mutual funds do not require customization but standardization. However, using standardized risk models in quant trading with much shorter holding horizons is suboptimal: (1 longer horizon risk factors (value, growth, etc. increase noise trades and trading costs; (2 arbitrary risk factors can neutralize alpha; (3 “standardized” industries are artificial and insufficiently granular; (4 normalization of style risk factors is lost for the trading universe; (5 diversifying risk models lowers P&L correlations, reduces turnover and market impact, and increases capacity. We discuss various aspects of custom risk model building.

Qualitative risk assessment for the 100-HR-3 groundwater operable unit

Energy Technology Data Exchange (ETDEWEB)

Vukelich, S.E. [Golder Associates, Inc., Richland, WA (United States)

1994-09-22

This report provides the qualitative risk assessment for the 100-HR-3 operable unit on the Hanford Reservation. 100-HR-3 is a ground water unit. The purpose of the QRA at the 100-HR-3 operable unit is to focus on a predefined set of human and environmental exposure scenarios in order to provides sufficient information that will assist the Tri-Party signatories (Washington State Department of Ecology, EPA and US DOE) in making defensible decisions on the necessity of Interim Remedial Measures. Frequent- and occasional-use exposure scenarios are evaluated in the human health risk assessment to provide bounding estimates of risk. The ecological risk assessment consists of an evaluation of the risks to riparian and aquatic receptors which live in or near the Columbia River.

Qualitative risk assessment for the 100-HR-3 groundwater operable unit

International Nuclear Information System (INIS)

Vukelich, S.E.

1994-01-01

This report provides the qualitative risk assessment for the 100-HR-3 operable unit on the Hanford Reservation. 100-HR-3 is a ground water unit. The purpose of the QRA at the 100-HR-3 operable unit is to focus on a predefined set of human and environmental exposure scenarios in order to provides sufficient information that will assist the Tri-Party signatories (Washington State Department of Ecology, EPA and US DOE) in making defensible decisions on the necessity of Interim Remedial Measures. Frequent- and occasional-use exposure scenarios are evaluated in the human health risk assessment to provide bounding estimates of risk. The ecological risk assessment consists of an evaluation of the risks to riparian and aquatic receptors which live in or near the Columbia River

Identification of the high risk emergency surgical patient: Which risk prediction model should be used?

Science.gov (United States)

Stonelake, Stephen; Thomson, Peter; Suggett, Nigel

2015-09-01

National guidance states that all patients having emergency surgery should have a mortality risk assessment calculated on admission so that the 'high risk' patient can receive the appropriate seniority and level of care. We aimed to assess if peri-operative risk scoring tools could accurately calculate mortality and morbidity risk. Mortality risk scores for 86 consecutive emergency laparotomies, were calculated using pre-operative (ASA, Lee index) and post-operative (POSSUM, P-POSSUM and CR-POSSUM) risk calculation tools. Morbidity risk scores were calculated using the POSSUM predicted morbidity and compared against actual morbidity according to the Clavien-Dindo classification. The actual mortality was 10.5%. The average predicted risk scores for all laparotomies were: ASA 26.5%, Lee Index 2.5%, POSSUM 29.5%, P-POSSUM 18.5%, CR-POSSUM 10.5%. Complications occurred following 67 laparotomies (78%). The majority (51%) of complications were classified as Clavien-Dindo grade 2-3 (non-life-threatening). Patients having a POSSUM morbidity risk of greater than 50% developed significantly more life-threatening complications (CD 4-5) compared with those who predicted less than or equal to 50% morbidity risk (P = 0.01). Pre-operative risk stratification remains a challenge because the Lee Index under-predicts and ASA over-predicts mortality risk. Post-operative risk scoring using the CR-POSSUM is more accurate and we suggest can be used to identify patients who require intensive care post-operatively. In the absence of accurate risk scoring tools that can be used on admission to hospital it is not possible to reliably audit the achievement of national standards of care for the 'high-risk' patient.

Prediction of chronic post-operative pain: pre-operative DNIC testing identifies patients at risk.

Science.gov (United States)

Yarnitsky, David; Crispel, Yonathan; Eisenberg, Elon; Granovsky, Yelena; Ben-Nun, Alon; Sprecher, Elliot; Best, Lael-Anson; Granot, Michal

2008-08-15

Surgical and medical procedures, mainly those associated with nerve injuries, may lead to chronic persistent pain. Currently, one cannot predict which patients undergoing such procedures are 'at risk' to develop chronic pain. We hypothesized that the endogenous analgesia system is key to determining the pattern of handling noxious events, and therefore testing diffuse noxious inhibitory control (DNIC) will predict susceptibility to develop chronic post-thoracotomy pain (CPTP). Pre-operative psychophysical tests, including DNIC assessment (pain reduction during exposure to another noxious stimulus at remote body area), were conducted in 62 patients, who were followed 29.0+/-16.9 weeks after thoracotomy. Logistic regression revealed that pre-operatively assessed DNIC efficiency and acute post-operative pain intensity were two independent predictors for CPTP. Efficient DNIC predicted lower risk of CPTP, with OR 0.52 (0.33-0.77 95% CI, p=0.0024), i.e., a 10-point numerical pain scale (NPS) reduction halves the chance to develop chronic pain. Higher acute pain intensity indicated OR of 1.80 (1.28-2.77, p=0.0024) predicting nearly a double chance to develop chronic pain for each 10-point increase. The other psychophysical measures, pain thresholds and supra-threshold pain magnitudes, did not predict CPTP. For prediction of acute post-operative pain intensity, DNIC efficiency was not found significant. Effectiveness of the endogenous analgesia system obtained at a pain-free state, therefore, seems to reflect the individual's ability to tackle noxious events, identifying patients 'at risk' to develop post-intervention chronic pain. Applying this diagnostic approach before procedures that might generate pain may allow individually tailored pain prevention and management, which may substantially reduce suffering.

Study on risk-based operation and maintenance using the living PSA system

International Nuclear Information System (INIS)

Kurisaka, K.

2000-01-01

The objective of this study is to contribute to an improvement of fast reactor plant operation and maintenance from the standpoint of risk assessment. An effort was made to analyze a relationship between the valve failure probability and the standby time based on the component reliability database and statistical analysis system (CORDS). According to the analysis result, the following issues were examined: the surveillance test interval (STI), timing and the allowable outage time (AOT) of redundant valve system in a fast reactor model plant. An examination was performed based on the failure probability non-linearly dependent on the standby time using the risk importance measures and technique to optimize the AOT which are incorporated in the living PSA system (LIPSAS). The case study showed that consideration of non-linear time trend of the failure probability made the recommended STI and AOT longer under the same risk limitation. It is recommended to apply the nonlinear expression of demand failure probability in estimating the STI and AOT based on the risk measures. (author)

Quantitative risk analysis in two pipelines operated by TRANSPETRO

Energy Technology Data Exchange (ETDEWEB)

Garcia, Claudio B. [PETROBRAS Transporte S/A (TRANSPETRO), Rio de Janeiro, RJ (Brazil); Pinho, Edson [Universidade Federal Rural do Rio de Janeiro (UFRRJ), Seropedica, RJ (Brazil); Bittencourt, Euclides [Centro Universitario FIB, Salvador , BA (Brazil)

2009-07-01

Transportation risk analysis techniques were used to study two pipelines operated by TRANSPETRO. The Pipeline A is for the simultaneous transportation of diesel, gasoline and LPG and comprises three parts, all of them crossing rural areas. The Pipeline B is for oil transportation and one of its ends is located in an area of a high density population. Both pipelines had their risk studied using the PHAST RISK{sup R} software and the individual risk measures, the only considered measures for license purposes for this type of studies, presented level far below the maximum tolerable levels considered. (author)

Qualitative risk assessment for the 100-KR-4 groundwater operable unit

Energy Technology Data Exchange (ETDEWEB)

Biggerstaff, R.L.

1994-06-30

This report provides the qualitative risk assessment (QRA) for the 100-KR-4 groundwater operable unit at the US Department of Energy`s (DOE) Hanford Site in southeastern Washington State. The extent of the groundwater beneath the 100 K Area is defined in the Remedial Investigation/Feasibility Study Work Plan for the 100-KR-4 Operable Unit (DOE-RL 1992a). The QRA is an evaluation or risk using a limited amount of data and a predefined set of human and environmental exposure scenarios and is not intended to replace or be a substitute for a baseline risk assessment.

Qualitative risk assessment for the 100-KR-4 groundwater operable unit

International Nuclear Information System (INIS)

Biggerstaff, R.L.

1994-01-01

This report provides the qualitative risk assessment (QRA) for the 100-KR-4 groundwater operable unit at the US Department of Energy's (DOE) Hanford Site in southeastern Washington State. The extent of the groundwater beneath the 100 K Area is defined in the Remedial Investigation/Feasibility Study Work Plan for the 100-KR-4 Operable Unit (DOE-RL 1992a). The QRA is an evaluation or risk using a limited amount of data and a predefined set of human and environmental exposure scenarios and is not intended to replace or be a substitute for a baseline risk assessment

The use of living PSA for on-line risk management by plant operators

International Nuclear Information System (INIS)

Moir, Gordon R.

2004-01-01

The concept of Living Probabilistic Safety Assessment (LPSA) has existed for several years and reflects the desire to utilise the knowledge gained in producing PSAs for nuclear power plants. In most countries the regulator requires that PSA are performed on all new nuclear power plants in order to demonstrate that the design and operation of the plant will meet the required safety standards. In the past, having satisfied the regulator, these PSAs were then regarded as having served their purpose and 'put on the shelf'. In the course of time all plants undergo modification, operational procedures change and develop, and plant specific reliability data becomes available throughout the lifetime of the plant. The original plant specific PSA will therefore rapidly become outdated and need revision. The concept of LPSA is therefore to provide a vehicle for evaluating the effect of plant changes throughout the plant's lifetime. Within the framework of LPSA 'living' can mean anything from updating the PSA infrequently, e.g. as and when major design changes are implemented, to updating the PSA in real time as plant is made unavailable due to maintenance or failure. Constructing and analysing plant specific PSA takes man years of effort in analysing all safety related systems. The result is a very detailed model of the interactions between systems and how they can fail. In order to gain the maximum benefit from this extensive and detailed knowledge base. Nuclear Electric has been involved in the development of PSA codes which enable rapid assessment of PSA. The development of such a code, the Essential Systems Status Monitor (ESSM), has allowed interactive use of the PSA and has maximised the benefit of the knowledge held in the PSA to plan and manage low risk maintenance strategies. The paper describes how the emphasis in the development of the ESSM has been to provide the operator with an interactive LPSA facility to maximise the use and benefits of the original PSA model

Hypothetical operation model for the multi-bed system of the Tritium plant based on the scheduling approach

Energy Technology Data Exchange (ETDEWEB)

Lee, Jae-Uk, E-mail: eslee@dongguk.edu [Department of Chemical Engineering, Pohang University of Science and Technology, San 31, Hyoja-Dong, Pohang 790-784 (Korea, Republic of); Chang, Min Ho; Yun, Sei-Hun [National Fusion Research Institute, 169-148-gil Kwahak-ro, Yusong-gu, Daejon 34133 (Korea, Republic of); Lee, Euy Soo [Department of Chemical & Biochemical Engineering, Dongguk University, Seoul 100-715 (Korea, Republic of); Lee, In-Beum [Department of Chemical Engineering and Graduate School of Engineering Mastership, Pohang University of Science and Technology, San 31, Hyoja-Dong, Pohang 790-784 (Korea, Republic of); Lee, Kun-Hong [Department of Chemical Engineering, Pohang University of Science and Technology, San 31, Hyoja-Dong, Pohang 790-784 (Korea, Republic of)

2016-11-01

Highlights: • We introduce a mathematical model for the multi-bed storage system in the tritium plant. • We obtain details of operation by solving the model. • The model assesses diverse operation scenarios with respect to risk. - Abstract: In this paper, we describe our hypothetical operation model (HOM) for the multi-bed system of the storage and delivery system (SDS) of the ITER tritium plant. The multi-bed system consists of multiple getter beds (i.e., for batch operation) and buffer vessels (i.e., for continuous operation). Our newly developed HOM is formulated as a mixed-integer linear programming (MILP) model and has been extensively investigated to optimize chemical and petrochemical production planning and scheduling. Our model determines the timing, duration, and size of tasks corresponding to each set of equipment. Further, inventory levels for each set of equipment are calculated. Our proposed model considers the operation of one cycle of one set of getter beds and is implemented and assessed as a case study problem.

"Who Bravely Dares Must Sometimes Risk a Fall." The Balance Between Tactical and Operational Risk in War

National Research Council Canada - National Science Library

Higginbotham, Chris

2004-01-01

... in consequence to reducing operational risk. This represents a change from the way in which United States forces have historically trained for sequential attrition based, vice simultaneous maneuver operations...

Enhanced Engine Performance During Emergency Operation Using a Model-Based Engine Control Architecture

Science.gov (United States)

Csank, Jeffrey T.; Connolly, Joseph W.

2016-01-01

This paper discusses the design and application of model-based engine control (MBEC) for use during emergency operation of the aircraft. The MBEC methodology is applied to the Commercial Modular Aero-Propulsion System Simulation 40k (CMAPSS40k) and features an optimal tuner Kalman Filter (OTKF) to estimate unmeasured engine parameters, which can then be used for control. During an emergency scenario, normally-conservative engine operating limits may be relaxed to increase the performance of the engine and overall survivability of the aircraft; this comes at the cost of additional risk of an engine failure. The MBEC architecture offers the advantage of estimating key engine parameters that are not directly measureable. Estimating the unknown parameters allows for tighter control over these parameters, and on the level of risk the engine will operate at. This will allow the engine to achieve better performance than possible when operating to more conservative limits on a related, measurable parameter.

Progress in Space Weather Modeling and Observations Needed to Improve the Operational NAIRAS Model Aircraft Radiation Exposure Predictions

Science.gov (United States)

Mertens, C. J.; Kress, B. T.; Wiltberger, M. J.; Tobiska, W.; Xu, X.

2011-12-01

The Nowcast of Atmospheric Ionizing Radiation for Aviation Safety (NAIRAS) is a prototype operational model for predicting commercial aircraft radiation exposure from galactic and solar cosmic rays. NAIRAS predictions are currently streaming live from the project's public website, and the exposure rate nowcast is also available on the SpaceWx smartphone app for iPhone, IPad, and Android. Cosmic rays are the primary source of human exposure to high linear energy transfer radiation at aircraft altitudes, which increases the risk of cancer and other adverse health effects. Thus, the NAIRAS model addresses an important national need with broad societal, public health and economic benefits. The processes responsible for the variability in the solar wind, interplanetary magnetic field, solar energetic particle spectrum, and the dynamical response of the magnetosphere to these space environment inputs, strongly influence the composition and energy distribution of the atmospheric ionizing radiation field. During the development of the NAIRAS model, new science questions were identified that must be addressed in order to obtain a more reliable and robust operational model of atmospheric radiation exposure. Addressing these science questions require improvements in both space weather modeling and observations. The focus of this talk is to present these science questions, the proposed methodologies for addressing these science questions, and the anticipated improvements to the operational predictions of atmospheric radiation exposure. The overarching goal of this work is to provide a decision support tool for the aviation industry that will enable an optimal balance to be achieved between minimizing health risks to passengers and aircrew while simultaneously minimizing costs to the airline companies.

Probabilistic risk assessment of the Space Shuttle. Phase 3: A study of the potential of losing the vehicle during nominal operation. Volume 2: Integrated loss of vehicle model

Science.gov (United States)

Fragola, Joseph R.; Maggio, Gaspare; Frank, Michael V.; Gerez, Luis; Mcfadden, Richard H.; Collins, Erin P.; Ballesio, Jorge; Appignani, Peter L.; Karns, James J.

1995-01-01

The application of the probabilistic risk assessment methodology to a Space Shuttle environment, particularly to the potential of losing the Shuttle during nominal operation is addressed. The different related concerns are identified and combined to determine overall program risks. A fault tree model is used to allocate system probabilities to the subsystem level. The loss of the vehicle due to failure to contain energetic gas and debris, to maintain proper propulsion and configuration is analyzed, along with the loss due to Orbiter, external tank failure, and landing failure or error.

75 FR 50936 - Loan Policies and Operations; Lending and Leasing Limits and Risk Management

Science.gov (United States)

2010-08-18

...-AC60 Loan Policies and Operations; Lending and Leasing Limits and Risk Management AGENCY: Farm Credit... sound operation of System institutions by strengthening their risk management practices and abilities to... the establishment of consistent, uniform and prudent concentration risk management policies by System...

Dynamic operational risk management at industrial irradiation plants

International Nuclear Information System (INIS)

Wieland, Patricia; Lustosa, Leonardo J.

2010-01-01

Although feasibility studies indicate that industrial irradiation can be sound business, some initiatives fail in few years. In Brazil, the operation of some industrial irradiation plants has been discontinued in spite of the growing export market for tropical fruits like mangoes and papayas, of which Brazil is one of the major producers. This paper discusses the overall aspects of the food irradiation in Brazil, singles out dynamic operation risk management as an important need and provides suggestions for further developments. This research work involves literature review as well as interviews with irradiation industry stake holders in order to identify the ORs and to assess the situation in a logical and integrated way. The results show that public acceptance is not a major issue for the food preservation industry in Brazil. On the contrary, evidences show that there is public support, provided that information on the subject is disseminated among consumers. Need for improvements have been detected in the areas of industrial operational risk management, external relations for export, and regulatory issues, among others to support decision making in establishing and developing industrial food irradiation capabilities to serve Brazilian tropical fruit exports. (author)

Operational risk assessments by supply chain professionals : process and performance

NARCIS (Netherlands)

Tazelaar, F.; Snijders, C.C.P.

2013-01-01

We consider the "process-performance paradox" in the assessment of operational risks by professionals in the field of operations and supply chain management (OSCM). The paradox states that although professionals with more expertise tend to decide in different ways, they often do not make better

Enhanced leak detection risk model development

Energy Technology Data Exchange (ETDEWEB)

Harron, Lorna; Barlow, Rick; Farquhar, Ted [Enbridge Pipelines Inc., Edmonton, Alberta (Canada)

2010-07-01

Increasing concerns and attention to pipeline safety have engaged pipeline companies and regulatory agencies to extend their approaches to pipeline integrity. The implementation of High Consequence Areas (HCAs) has especially had an impact on the development of integrity management protocols (IMPs) for pipelines. These IMPs can require that a risk based assessment of integrity issues be applied to specific HCA risk factors. This paper addresses the development of an operational risk assessment approach for pipeline leak detection requirements for HCAs. A detailed risk assessment algorithm that includes 25 risk variables and 28 consequence variables was developed for application to all HCA areas. This paper describes the consultative process that was used to workshop the development of this algorithm. Included in this description is how the process addressed various methods of leak detection across a wide variety of pipelines. The paper also looks at development challenges and future steps in applying operation risk assessment techniques to mainline leak detection risk management.

Strengthening the Three Lines of Defence in Terms of More Efficient Operational Risk Management in Central Banks

Directory of Open Access Journals (Sweden)

Luburić Radoica

2017-01-01

Full Text Available This paper is the result of the author`s many years of multidisciplinary research in the areas of quality management and operational risk management. The main focus of the research is aimed at strengthening the model of the “three lines of defence” in terms of more efficient management of operational risks - those that arise as a result of inadequate and unsuccessful processes and systems, human factors, as well as those that can appear as a result of external events. The strengthening of the three lines of defence model is brought about through the synergy of quality management principles, the principles of risk management, and the total quality management approach. In essence, the term strengthening may be interpreted as a process of continual improvement. Business operations based on the principles of quality management and risk management allow central banks to be able to continuously improve their overall business performance. The principles of quality management contain properly aligned and matched best solutions from current management theory and practice. Designed to work together - and this essentially means in a consistent, synchronized and synergistic manner, the principles are translated into a series of requirements and guidelines of international standards suitable for implementation. Through their synergy, the principles of quality management and risk management, as well as approaches to total quality management form a clear, applicable and sustainable paradigm of successful management of central banks. Incorporation of the principles of quality management in central bank systems and processes would significantly strengthen the three lines of defence, in terms of efficient operational risk management, which this paper aims to show in a clear and comprehensive manner. Although any central bank is a specific institution, all the principles of quality management and risk management can be applied to its operations. In addition to

Comparison of additive (absolute) risk projection models and multiplicative (relative) risk projection models in estimating radiation-induced lifetime cancer risk

International Nuclear Information System (INIS)

Kai, Michiaki; Kusama, Tomoko

1990-01-01

Lifetime cancer risk estimates depend on risk projection models. While the increasing lengths of follow-up observation periods of atomic bomb survivors in Hiroshima and Nagasaki bring about changes in cancer risk estimates, the validity of the two risk projection models, the additive risk projection model (AR) and multiplicative risk projection model (MR), comes into question. This paper compares the lifetime risk or loss of life-expectancy between the two projection models on the basis of BEIR-III report or recently published RERF report. With Japanese cancer statistics the estimates of MR were greater than those of AR, but a reversal of these results was seen when the cancer hazard function for India was used. When we investigated the validity of the two projection models using epidemiological human data and animal data, the results suggested that MR was superior to AR with respect to temporal change, but there was little evidence to support its validity. (author)

Performance Models and Risk Management in Communications Systems

CERN Document Server

Harrison, Peter; Rüstem, Berç

2011-01-01

This volume covers recent developments in the design, operation, and management of telecommunication and computer network systems in performance engineering and addresses issues of uncertainty, robustness, and risk. Uncertainty regarding loading and system parameters leads to challenging optimization and robustness issues. Stochastic modeling combined with optimization theory ensures the optimum end-to-end performance of telecommunication or computer network systems. In view of the diverse design options possible, supporting models have many adjustable parameters and choosing the best set for a particular performance objective is delicate and time-consuming. An optimization based approach determines the optimal possible allocation for these parameters. Researchers and graduate students working at the interface of telecommunications and operations research will benefit from this book. Due to the practical approach, this book will also serve as a reference tool for scientists and engineers in telecommunication ...

The effect of stressed economic conditions on operational risk loss distributions

Directory of Open Access Journals (Sweden)

Ja'nel Esterhuysen

2010-12-01

Full Text Available The depth and duration of the credit crisis has highlighted a number of problems in modern finance. Banks have been accused of excessive risk taking, rating agencies of severe conflicts of interest, central banks of neglecting the inflation of asset price bubbles and national supervisors of lax regulatory controls. Credit and market losses have been considerable. Operational losses have also surged as surviving corporates merge or acquire less fortunate ones without the requisite controls. Furthermore, as more jobs get made redundant it is believed that people are getting forced to play their hand to get involved in internal fraud as their sources of income has dried up drastically and stealing from the institution seems to be their last resort.. The main objective of this paper is to establish if there has been a changed in the nature of operational risk with regards to the number of operational losses as well as their impact pre and during the crisis. The way in which operational losses have been affected will be presented and a comparison will be made between operational loss characteristics pre and during the crisis. Some of the main findings of this paper were that operational losses shown little change in frequency, but shown a significant increase in severity, meaning that their financial impact has been more severe during the crisis.  Therefore it is quite safe to say that the financial crisis most defiantly had an impact on operational risk as the impact of operational losses became much more severe

Addressing dependability by applying an approach for model-based risk assessment

International Nuclear Information System (INIS)

Gran, Bjorn Axel; Fredriksen, Rune; Thunem, Atoosa P.-J.

2007-01-01

This paper describes how an approach for model-based risk assessment (MBRA) can be applied for addressing different dependability factors in a critical application. Dependability factors, such as availability, reliability, safety and security, are important when assessing the dependability degree of total systems involving digital instrumentation and control (I and C) sub-systems. In order to identify risk sources their roles with regard to intentional system aspects such as system functions, component behaviours and intercommunications must be clarified. Traditional risk assessment is based on fault or risk models of the system. In contrast to this, MBRA utilizes success-oriented models describing all intended system aspects, including functional, operational and organizational aspects of the target. The EU-funded CORAS project developed a tool-supported methodology for the application of MBRA in security-critical systems. The methodology has been tried out within the telemedicine and e-commerce areas, and provided through a series of seven trials a sound basis for risk assessments. In this paper the results from the CORAS project are presented, and it is discussed how the approach for applying MBRA meets the needs of a risk-informed Man-Technology-Organization (MTO) model, and how methodology can be applied as a part of a trust case development

Addressing dependability by applying an approach for model-based risk assessment

Energy Technology Data Exchange (ETDEWEB)

Gran, Bjorn Axel [Institutt for energiteknikk, OECD Halden Reactor Project, NO-1751 Halden (Norway)]. E-mail: bjorn.axel.gran@hrp.no; Fredriksen, Rune [Institutt for energiteknikk, OECD Halden Reactor Project, NO-1751 Halden (Norway)]. E-mail: rune.fredriksen@hrp.no; Thunem, Atoosa P.-J. [Institutt for energiteknikk, OECD Halden Reactor Project, NO-1751 Halden (Norway)]. E-mail: atoosa.p-j.thunem@hrp.no

2007-11-15

This paper describes how an approach for model-based risk assessment (MBRA) can be applied for addressing different dependability factors in a critical application. Dependability factors, such as availability, reliability, safety and security, are important when assessing the dependability degree of total systems involving digital instrumentation and control (I and C) sub-systems. In order to identify risk sources their roles with regard to intentional system aspects such as system functions, component behaviours and intercommunications must be clarified. Traditional risk assessment is based on fault or risk models of the system. In contrast to this, MBRA utilizes success-oriented models describing all intended system aspects, including functional, operational and organizational aspects of the target. The EU-funded CORAS project developed a tool-supported methodology for the application of MBRA in security-critical systems. The methodology has been tried out within the telemedicine and e-commerce areas, and provided through a series of seven trials a sound basis for risk assessments. In this paper the results from the CORAS project are presented, and it is discussed how the approach for applying MBRA meets the needs of a risk-informed Man-Technology-Organization (MTO) model, and how methodology can be applied as a part of a trust case development.

Safety evaluation by living probabilistic safety assessment. Procedures and applications for planning of operational activities and analysis of operating experience

International Nuclear Information System (INIS)

Johanson, Gunnar; Holmberg, J.

1994-01-01

Living Probabilistic Safety Assessment (PSA) is a daily safety management system and it is based on a plant-specific PSA and supporting information systems. In the living use of PSA, plant status knowledge is used to represent actual plant safety status in monitoring or follow-up perspective. The PSA model must be able to express the risk at a given time and plant configuration. The process, to update the PSA model to represent the current or planned configuration and to use the model to evaluate and direct the changes in the configuration, is called living PSA programme. The main purposes to develop and increase the usefulness of living PSA are: Long term safety planning: To continue the risk assessment process started with the basic PSA by extending and improving the basic models and data to provide a general risk evaluation tool for analyzing the safety effects of changes in plant design and procedures. Risk planning of operational activities: To support the operational management by providing means for searching optimal operational maintenance and testing strategies from the safety point of view. The results provide support for risk decision making in the short term or in a planning mode. The operational limits and conditions given by technical specifications can be analyzed by evaluating the risk effects of alternative requirements in order to balance the requirements with respect to operational flexibility and plant economy. Risk analysis of operating experience: To provide a general risk evaluation tool for analyzing the safety effects of incidents and plant status changes. The analyses are used to: identify possible high risk situations, rank the occurred events from safety point of view, and get feedback from operational events for the identification of risk contributors. This report describes the methods, models and applications required to continue the process towards a living use of PSA. 19 tabs, 20 figs

Operational Risk Management System for SMS and FRMS

NARCIS (Netherlands)

Stewart, S.; Koornneef, F.; Akselsson, R.

2009-01-01

Chapter 3: Operational Risk Management System for SMS and FRMS The European Commission HILAS project (Human Integration into the Lifecycle of Aviation Systems - a project supported by the European Commission’s 6th Framework between 2005-2009) was focused on using human factors knowledge and

Computer-aided operations engineering with integrated models of systems and operations

Science.gov (United States)

Malin, Jane T.; Ryan, Dan; Fleming, Land

1994-01-01

CONFIG 3 is a prototype software tool that supports integrated conceptual design evaluation from early in the product life cycle, by supporting isolated or integrated modeling, simulation, and analysis of the function, structure, behavior, failures and operation of system designs. Integration and reuse of models is supported in an object-oriented environment providing capabilities for graph analysis and discrete event simulation. Integration is supported among diverse modeling approaches (component view, configuration or flow path view, and procedure view) and diverse simulation and analysis approaches. Support is provided for integrated engineering in diverse design domains, including mechanical and electro-mechanical systems, distributed computer systems, and chemical processing and transport systems. CONFIG supports abstracted qualitative and symbolic modeling, for early conceptual design. System models are component structure models with operating modes, with embedded time-related behavior models. CONFIG supports failure modeling and modeling of state or configuration changes that result in dynamic changes in dependencies among components. Operations and procedure models are activity structure models that interact with system models. CONFIG is designed to support evaluation of system operability, diagnosability and fault tolerance, and analysis of the development of system effects of problems over time, including faults, failures, and procedural or environmental difficulties.

Credit Risk Modeling

DEFF Research Database (Denmark)

Lando, David

Credit risk is today one of the most intensely studied topics in quantitative finance. This book provides an introduction and overview for readers who seek an up-to-date reference to the central problems of the field and to the tools currently used to analyze them. The book is aimed at researchers...... and students in finance, at quantitative analysts in banks and other financial institutions, and at regulators interested in the modeling aspects of credit risk. David Lando considers the two broad approaches to credit risk analysis: that based on classical option pricing models on the one hand...

Modeling Operating Modes during Plant Life Cycle

DEFF Research Database (Denmark)

Jørgensen, Sten Bay; Lind, Morten

2012-01-01

Modelling process plants during normal operation requires a set a basic assumptions to define the desired functionalities which lead to fullfillment of the operational goal(-s) for the plant. However during during start-up and shut down as well as during batch operation an ensemble of interrelated...... modes are required to cover the whole operational window of a processs plant including intermediary operating modes. Development of such an model ensemble for a plant would constitute a systematic way of defining the possible plant operating modes and thus provide a platform for also defining a set...... of candidate control structures. The present contribution focuses on development of a model ensemble for a plant with an illustartive example for a bioreactor. Starting from a functional model a process plant may be conceptually designed and qualitative operating models may be developed to cover the different...

Operating cost model for local service airlines

Science.gov (United States)

Anderson, J. L.; Andrastek, D. A.

1976-01-01

Several mathematical models now exist which determine the operating economics for a United States trunk airline. These models are valuable in assessing the impact of new aircraft into an airline's fleet. The use of a trunk airline cost model for the local service airline does not result in representative operating costs. A new model is presented which is representative of the operating conditions and resultant costs for the local service airline. The calculated annual direct and indirect operating costs for two multiequipment airlines are compared with their actual operating experience.

Assessment, Planning, and Execution Considerations for Conjunction Risk Assessment and Mitigation Operations

Science.gov (United States)

Frigm, Ryan C.; Levi, Joshua A.; Mantziaras, Dimitrios C.

2010-01-01

An operational Conjunction Assessment Risk Analysis (CARA) concept is the real-time process of assessing risk posed by close approaches and reacting to those risks if necessary. The most effective way to completely mitigate conjunction risk is to perform an avoidance maneuver. The NASA Goddard Space Flight Center has implemented a routine CARA process since 2005. Over this period, considerable experience has been gained and many lessons have been learned. This paper identifies and presents these experiences as general concepts in the description of the Conjunction Assessment, Flight Dynamics, and Flight Operations methodologies and processes. These general concepts will be tied together and will be exemplified through a case study of an actual high risk conjunction event for the Aura mission.

European insurance scheme to cover geological risk related to geothermal operations

Energy Technology Data Exchange (ETDEWEB)

Tiberi, U [European Community, General Directorate XVII, ALTERNER Program, Bruxelles (Belgium); Demange, J [BRGM, Orleans (France)

1997-12-01

The development of geothermal energy can contribute significantly to the growth of NRE (new and renewable energies that are non-nuclear and non-combustible) within the European Community and within Europe as a whole. However, the `mining risk` related to this type of operation still constitutes a major obstacle to its development. Operators find it difficult to raise the necessary financing without a guarantee against the risk of failure during the drilling stage. Standard insurance companies will not cover this type of risk, due to its very nature. We must thus therefore find a specific solution. As a result of the oil crises during the 1970s, the French Government decided promote the use of renewable energies in France. The support provided to these energies, or at least to geothermal energy, was to set up a scheme whereby the resource is guaranteed. Thus the operator, by subscribing to the scheme, benefits from a guarantee of the resource. The insurance works at two level: - in the first place, it covers the mining risk during the drilling stage, i.e. should the resource prove to be insufficient, whether in discharge or temperature, for an economically viable operation, then the totality of the costs are reimbursed, apart form the premium and any government subsidy that might have been received. - A second level of guarantee covers the risk of change in the resource`s parameters over a period of 15 years (a study is in progress to consider the possibility of extending this period to 25 years). (orig.)

Risks and health effects in operating room personnel

NARCIS (Netherlands)

van den Berg-Dijkmeijer, Marleen L.; Frings-Dresen, Monique H. W.; Sluiter, Judith K.

2011-01-01

The objective was to find the factors that pose a possible health risk to OR personnel. Work-related health problems of operating room (OR) personnel were signalled by an occupational physician and preparations for the development of new Worker's Health Surveillance (WHS) were started with a

A Discussion on Risk in Complex Operational Settings

Energy Technology Data Exchange (ETDEWEB)

Ellis, K., E-mail: ken.ellis@wano.org [WANO, London (United Kingdom)

2014-10-15

Full text: Many apparatus today are complicated in that they consist of many components. The risk associated with these complicated apparatus is a product of their unreliable system components and sub-components. The components are a collection of inter-related individual components/ sub-components that can be correlated in a direct cause and effect manner and thus failures can be historically retraced or predicted. Once the confines of the complicated apparatus is extended to include such inputs as humans operating the equipment, man-machine interfaces, multiple processes surrounding the operation of the apparatus, etc., the whole system becomes complex. Complex systems are based on interdependencies versus dependencies, and risk becomes a product of improperly aligned or poorly integrated activities. Cause and effect becomes more loosely coupled and both path and circumstance dependent. To better understand and improve our defence in depth strategies we need to better understand and discuss complex systems and hence allow better erection of protective barriers. (author)

Statistical models for competing risk analysis

International Nuclear Information System (INIS)

Sather, H.N.

1976-08-01

Research results on three new models for potential applications in competing risks problems. One section covers the basic statistical relationships underlying the subsequent competing risks model development. Another discusses the problem of comparing cause-specific risk structure by competing risks theory in two homogeneous populations, P1 and P2. Weibull models which allow more generality than the Berkson and Elveback models are studied for the effect of time on the hazard function. The use of concomitant information for modeling single-risk survival is extended to the multiple failure mode domain of competing risks. The model used to illustrate the use of this methodology is a life table model which has constant hazards within pre-designated intervals of the time scale. Two parametric models for bivariate dependent competing risks, which provide interesting alternatives, are proposed and examined

Operational Risk Management A Practical Approach to Intelligent Data Analysis

CERN Document Server

Kenett, Ron

2010-01-01

The book will introduce modern Operational Risk (OpR) Management and illustrates the various sources of OpR assessment and OpR mitigation. This book discusses how various data sources can be integrated and analyzed and how OpR is synergetic to other risk management activities such as Financial Risk Management and Internationalization. The topics will include state of the art technology such as semantic analysis, ontology engineering, data mining and statistical analysis.

A proposal for operator team behavior model and operator's thinking mechanism

International Nuclear Information System (INIS)

Yoshimura, Seiichi; Takano, Kenichi; Sasou, Kunihide

1995-01-01

Operating environment in huge systems like nuclear power plants or airplanes is changing rapidly with the advance of computer technology. It is necessary to elucidate thinking process of operators and decision-making process of an operator team in abnormal situations, in order to prevent human errors under such environment. The Central Research Institute of Electric Power Industry is promoting a research project to establish human error prevention countermeasures by modeling and simulating the thinking process of operators and decision-making process of an operator team. In the previous paper, application of multilevel flow modeling was proposed to a mental model which conducts future prediction and cause identification, and the characteristics were verified by experienced plant operators. In this paper, an operator team behavior model and a fundamental operator's thinking mechanism especially 'situation understanding' are proposed, and the proposals are evaluated by experiments using a full-scale simulator. The results reveal that some assumptions such as 'communication is done between a leader and a follower' are almost appropriate and that the situation understanding can be represented by 'probable candidates for cause, determination of a parameter which changes when an event occurs, determination of parameters which are influenced by the change of the previous parameter, determination of a principal parameter and future prediction of the principal parameter'. (author)

Quantifying risk for decentralized offensive cyber operations

OpenAIRE

Klipstein, Michael S.

2017-01-01

Approved for public release; distribution is unlimited Includes supplementary material. Reissued 7 Sep 2017 with corrections to committee titles. Computer networks and the amount of information stored within government computer networks have become ubiquitous. With the possible decentralization of authorities to conduct offensive cyber operations, leaders and their respective staffs of organizations below the national level cannot adequately assess risks and consequences of these ope...

Assessments and applications to enhance human reliability and reduce risk during less-than-full-power operations

International Nuclear Information System (INIS)

Hannaman, G.W.; Singh, A.

1992-01-01

Study of events, interviews with plant personnel, and applications of risk studies indicate that the risk of a potential accident during less-than-full-power (LTFP) operation is becoming a greater fraction of the risk as improvements are made to the full-power operations. Industry efforts have been increased to reduce risk and the cost of shutdown operations. These efforts consider the development and application of advanced tools to help utilities proactively identify issues and develop contingencies and interventions to enhance reliability and reduce risk of low-power operations at nuclear power plants. The role for human reliability assessments is to help improve utility outage planning to better achieve schedule and risk control objectives. Improvements are expected to include intervention tools to identify and reduce human error, definition of new instructional modules, and prioritization of risk reduction issues for operators. The Electric Power Research Institute is sponsoring a project to address the identification and quantification of factors that affect human reliability during LTFP operation of nuclear power plants. The results of this project are expected to promote the development of proactively applied interventions and contingencies for enhanced human reliability during shutdown operations

Risk and Management Control: A Partial Least Square Modelling Approach

DEFF Research Database (Denmark)

Nielsen, Steen; Pontoppidan, Iens Christian

Risk and economic theory goes many year back (e.g. to Keynes & Knight 1921) and risk/uncertainty belong to one of the explanations for the existence of the firm (Coarse, 1937). The present financial crisis going on in the past years have re-accentuated risk and the need of coherence...... and interrelations between risk and areas within management accounting. The idea is that management accounting should be able to conduct a valid feed forward but also predictions for decision making including risk. This study reports the test of a theoretical model using partial least squares (PLS) on survey data...... and a external attitude dimension. The results have important implications for both management control research and for the management control systems design for the way accountants consider the element of risk in their different tasks, both operational and strategic. Specifically, it seems that different risk...

Risk-based Operation and Maintenance for Offshore Wind Turbines

DEFF Research Database (Denmark)

Sørensen, John Dalsgaard; Nielsen, Jannie Jessen

2011-01-01

For offshore wind turbines, costs to Operation and Maintenance (OM) are substantial, and can be expected to increase when wind farms are placed at deeper water depths and in more harsh environments. Traditional strategies for OM include corrective and preventive (scheduled and condition...... statistics and costs of the different operations. The different OM strategies are described and compared in an illustrative example with focus on which types of information that are needed. Special focus is on comparison between risk-based maintenance strategies and the conventional maintenance planning...... and are often the driving mechanisms for failures / faults that need maintenance. Observations of the degree of damage can increase the reliability of predictions and decrease the costs of OM if integrated in a risk-based framework theoretically based on pre-posterior Bayesian decision theory. The mathematical...

Validation of a risk prediction model for Barrett's esophagus in an Australian population.

Science.gov (United States)

Ireland, Colin J; Gordon, Andrea L; Thompson, Sarah K; Watson, David I; Whiteman, David C; Reed, Richard L; Esterman, Adrian

2018-01-01

Esophageal adenocarcinoma is a disease that has a high mortality rate, the only known precursor being Barrett's esophagus (BE). While screening for BE is not cost-effective at the population level, targeted screening might be beneficial. We have developed a risk prediction model to identify people with BE, and here we present the external validation of this model. A cohort study was undertaken to validate a risk prediction model for BE. Individuals with endoscopy and histopathology proven BE completed a questionnaire containing variables previously identified as risk factors for this condition. Their responses were combined with data from a population sample for analysis. Risk scores were derived for each participant. Overall performance of the risk prediction model in terms of calibration and discrimination was assessed. Scores from 95 individuals with BE and 636 individuals from the general population were analyzed. The Brier score was 0.118, suggesting reasonable overall performance. The area under the receiver operating characteristic was 0.83 (95% CI 0.78-0.87). The Hosmer-Lemeshow statistic was p =0.14. Minimizing false positives and false negatives, the model achieved a sensitivity of 74% and a specificity of 73%. This study has validated a risk prediction model for BE that has a higher sensitivity than previous models.

Visualization study of operators' plant knowledge model

International Nuclear Information System (INIS)

Kanno, Tarou; Furuta, Kazuo; Yoshikawa, Shinji

1999-03-01

Nuclear plants are typically very complicated systems and are required extremely high level safety on the operations. Since it is never possible to include all the possible anomaly scenarios in education/training curriculum, plant knowledge formation is desired for operators to enable thein to act against unexpected anomalies based on knowledge base decision making. The authors have been conducted a study on operators' plant knowledge model for the purpose of supporting operators' effort in forming this kind of plant knowledge. In this report, an integrated plant knowledge model consisting of configuration space, causality space, goal space and status space is proposed. The authors examined appropriateness of this model and developed a prototype system to support knowledge formation by visualizing the operators' knowledge model and decision making process in knowledge-based actions with this model on a software system. Finally the feasibility of this prototype as a supportive method in operator education/training to enhance operators' ability in knowledge-based performance has been evaluated. (author)

Modeling and Quantification of Team Performance in Human Reliability Analysis for Probabilistic Risk Assessment

Energy Technology Data Exchange (ETDEWEB)

Jeffrey C. JOe; Ronald L. Boring

2014-06-01

Probabilistic Risk Assessment (PRA) and Human Reliability Assessment (HRA) are important technical contributors to the United States (U.S.) Nuclear Regulatory Commission’s (NRC) risk-informed and performance based approach to regulating U.S. commercial nuclear activities. Furthermore, all currently operating commercial NPPs in the U.S. are required by federal regulation to be staffed with crews of operators. Yet, aspects of team performance are underspecified in most HRA methods that are widely used in the nuclear industry. There are a variety of "emergent" team cognition and teamwork errors (e.g., communication errors) that are 1) distinct from individual human errors, and 2) important to understand from a PRA perspective. The lack of robust models or quantification of team performance is an issue that affects the accuracy and validity of HRA methods and models, leading to significant uncertainty in estimating HEPs. This paper describes research that has the objective to model and quantify team dynamics and teamwork within NPP control room crews for risk informed applications, thereby improving the technical basis of HRA, which improves the risk-informed approach the NRC uses to regulate the U.S. commercial nuclear industry.

Implications of commodity price risk and operating leverage on petroleum project economic evaluations

International Nuclear Information System (INIS)

Salahor, G.; Laughton, D.G.

1999-01-01

The modern asset pricing method, MAP, can provide businesses with improved tools for economic analysis. This in turn leads to greater precision in the analysis of the effects of the following parameters: project structure, time, and uncertainty. This greater precision with MAP extends to analysis of the possibility for active control of the decision alternatives for managers in the petroleum business, especially where this possibility is not questioned. A methodology is developed as a model that quantifies revenue risk based on the nature of commodity price volatility and the accepted price of risk in the commodity market. A mathematical description is included of a natural gas log-normal distribution incorporating the annual volatility in the forecast, and a measure of the rate at which volatility decreases in the long run in the forecast. Give this volatility model, a risk discount factor is determinable and applicable to the current expectation of the commodity prices at a given time, and a discount time factor of all parts of the cash flow stream. Cases are used to evaluate a natural gas development project for the purpose of yielding scenarios for capital vs. operating cost trade-offs, price risk management, production profile, and the effect of the reverting vs. non-reverting price model. In application one, a comparison is made of discounted cash flow (DCF) to MAP evaluations giving a perspective on the various development choices which a producer has through third-party service providers. Further, an example is used to compare the two methods as alternative evaluations of development alternatives to speed up or slow down the production rate and decline profile of a gas field. As in the first example, the DCF discounting is higher than the net discounting in the MAP evaluation. But in this example both methods produce the same project structure decision. The small amount of incremental capital and operating costs needed for the higher production case are

Model risk analysis for risk management and option pricing

NARCIS (Netherlands)

Kerkhof, F.L.J.

2003-01-01

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

The Governance of the Operational Risk Indicators

Directory of Open Access Journals (Sweden)

Angelica Stratulat

2016-07-01

Full Text Available Management has won much its status of science as it is the scientific approach of solving many problems that the leadership of any entity currently has and, as such, it continues to fuel many controversies and debates. Management is the process meant to coordinate, to plan and to control the activities in an organization so as it is able to ensure its goals with maximum efficiency. Under these circumstances, future uncertainties and risks cause revolutionary mutations in approaching most of the economic and social paradigms that humankind were too long accustomed to, so that also the management processes and procedures system is exposed to corresponding changes. Operational Risk Management is not an integrated process but rather a set of fragmented activities that treat and resolve a variety of risks facing the firm/company as a whole, which determines facing the process from a holistic perspective of the whole business.

Approach to modeling of human performance for purposes of probabilistic risk assessment

International Nuclear Information System (INIS)

Swain, A.D.

1983-01-01

This paper describes the general approach taken in NUREG/CR-1278 to model human performance in sufficienct detail to permit probabilistic risk assessments of nuclear power plant operations. To show the basis for the more specific models in the above NUREG, a simplified model of the human component in man-machine systems is presented, the role of performance shaping factors is discussed, and special problems in modeling the cognitive aspect of behavior are described

Building a Natural Disaster Risk Index for Supply Chain Operations

OpenAIRE

Kun Liao; Ozden Bayazit; Fang Wang

2014-01-01

Risk for an organization is associated with uncertainties in all areas of its operations. As firms move toward global sourcing, supply chain risk increases dramatically, which is linked to lower financial performance and market value. One major type of supply chain risk is disruptions caused by natural or man-made disasters. In this paper, major factors causing supply chain disruptions are identified based on resource dependency theory and contingency theory. As a result of the study, a compr...

Operational risk management in financial institutions: A literature review

OpenAIRE

Pakhchanyan, Suren

2016-01-01

Following the three-pillar structure of the Basel II/III framework, the article categorises and surveys 279 academic papers on operational risk in financial institutions, covering the period from 1998 to 2014. In doing so, different lines of both theoretical and empirical directions for research are identified. In addition, this study provides an overview of existing consortia databases and other publicly available sources on operational loss that may be incorporated into empirical research, ...

Barrier and operational risk analysis of hydrocarbon releases (BORA-Release)

International Nuclear Information System (INIS)

Sklet, Snorre; Vinnem, Jan Erik; Aven, Terje

2006-01-01

This paper presents results from a case study carried out on an offshore oil and gas production platform with the purpose to apply and test BORA-Release, a method for barrier and operational risk analysis of hydrocarbon releases. A description of the BORA-Release method is given in Part I of the paper. BORA-Release is applied to express the platform specific hydrocarbon release frequencies for three release scenarios for selected systems and activities on the platform. The case study demonstrated that the BORA-Release method is a useful tool for analysing the effect on the release frequency of safety barriers introduced to prevent hydrocarbon releases, and to study the effect on the barrier performance of platform specific conditions of technical, human, operational, and organisational risk influencing factors (RIFs). BORA-Release may also be used to analyse the effect on the release frequency of risk reducing measures

The control of operational risk in nuclear power plant operations - Some cross-cultural perspectives

International Nuclear Information System (INIS)

Suchard, A.; Rochlin, G.

1992-01-01

The operation of nuclear power plants requires the management of a complex technology under exacting performance and safety criteria. Organizations operating nuclear power plants are faced with the challenge of simultaneously meeting technical, organizational, and social demands, striving toward perfection in a situation where learning by trial and error can be too costly. In this process, they interact with regulatory bodies who seek to help minimize operational risk by imposing and upholding safety standards. The character of this interaction differs in various countries, as does the larger cultural setting. The study generally pursued the question of how organizations operating complex and demanding technologies adapt to such requirements and circumstances, and how they can succeed in delivering nearly error-free performance. One aspect of this study includes the comparison of organizational and cultural environments for nuclear power plant operations in the US, France, Germany, Sweden, and Switzerland. The research involved in-depth, continuous observations on location and interviews with plant personnel, especially control operators, at one plant in each country

Glass operational file. Operational models and integration calculations

International Nuclear Information System (INIS)

Ribet, I.

2004-01-01

This document presents the operational choices of dominating phenomena, hypotheses, equations and numerical data of the parameters used in the two operational models elaborated for the calculation of the glass source terms with respect to the waste packages considered: existing packages (R7T7, AVM and CEA glasses) and future ones (UOX2, UOX3, UMo, others). The overall operational choices are justified and demonstrated and a critical analysis of the approach is systematically proposed. The use of the operational model (OPM) V 0 → V r , realistic, conservative and robust, is recommended for glasses with a high thermal and radioactive load, which represent the main part of the vitrified wastes. The OPM V 0 S, much more overestimating but faster to parameterize, can be used for the long-term behaviour forecasting of glasses with low thermal and radioactive load, considering today's lack of knowledge for the parameterization of a V 0 → V r type OPM. Efficiency estimations have been made for R7T7 glasses (OPM V 0 → V r ) and AVM glasses (OPM V 0 S), which correspond to more than 99.9% of the vitrified waste packages activity. The very contrasted results obtained, illustrate the importance of the choice of operational models: in conditions representative of a geologic disposal, the estimation of R7T7-type package lifetime exceeds several hundred thousands years. Even if the estimated lifetime of AVM packages is much shorter (because of the overestimating character of the OPM V 0 S), the release potential radiotoxicity is of the same order as the one of R7T7 packages. (J.S.)

Discrete Fracture Network Models for Risk Assessment of Carbon Sequestration in Coal

Energy Technology Data Exchange (ETDEWEB)

Jack Pashin; Guohai Jin; Chunmiao Zheng; Song Chen; Marcella McIntyre

2008-07-01

A software package called DFNModeler has been developed to assess the potential risks associated with carbon sequestration in coal. Natural fractures provide the principal conduits for fluid flow in coal-bearing strata, and these fractures present the most tangible risks for the leakage of injected carbon dioxide. The objectives of this study were to develop discrete fracture network (DFN) modeling tools for risk assessment and to use these tools to assess risks in the Black Warrior Basin of Alabama, where coal-bearing strata have high potential for carbon sequestration and enhanced coalbed methane recovery. DFNModeler provides a user-friendly interface for the construction, visualization, and analysis of DFN models. DFNModeler employs an OpenGL graphics engine that enables real-time manipulation of DFN models. Analytical capabilities in DFNModeler include display of structural and hydrologic parameters, compartmentalization analysis, and fluid pathways analysis. DFN models can be exported to third-party software packages for flow modeling. DFN models were constructed to simulate fracturing in coal-bearing strata of the upper Pottsville Formation in the Black Warrior Basin. Outcrops and wireline cores were used to characterize fracture systems, which include joint systems, cleat systems, and fault-related shear fractures. DFN models were constructed to simulate jointing, cleating, faulting, and hydraulic fracturing. Analysis of DFN models indicates that strata-bound jointing compartmentalizes the Pottsville hydrologic system and helps protect shallow aquifers from injection operations at reservoir depth. Analysis of fault zones, however, suggests that faulting can facilitate cross-formational flow. For this reason, faults should be avoided when siting injection wells. DFN-based flow models constructed in TOUGH2 indicate that fracture aperture and connectivity are critical variables affecting the leakage of injected CO{sub 2} from coal. Highly transmissive joints

Developing genetic epidemiological models to predict risk for nasopharyngeal carcinoma in high-risk population of China.

Directory of Open Access Journals (Sweden)

Hong-Lian Ruan

Full Text Available To date, the only established model for assessing risk for nasopharyngeal carcinoma (NPC relies on the sero-status of the Epstein-Barr virus (EBV. By contrast, the risk assessment models proposed here include environmental risk factors, family history of NPC, and information on genetic variants. The models were developed using epidemiological and genetic data from a large case-control study, which included 1,387 subjects with NPC and 1,459 controls of Cantonese origin. The predictive accuracy of the models were then assessed by calculating the area under the receiver-operating characteristic curves (AUC. To compare the discriminatory improvement of models with and without genetic information, we estimated the net reclassification improvement (NRI and integrated discrimination index (IDI. Well-established environmental risk factors for NPC include consumption of salted fish and preserved vegetables and cigarette smoking (in pack years. The environmental model alone shows modest discriminatory ability (AUC = 0.68; 95% CI: 0.66, 0.70, which is only slightly increased by the addition of data on family history of NPC (AUC = 0.70; 95% CI: 0.68, 0.72. With the addition of data on genetic variants, however, our model's discriminatory ability rises to 0.74 (95% CI: 0.72, 0.76. The improvements in NRI and IDI also suggest the potential usefulness of considering genetic variants when screening for NPC in endemic areas. If these findings are confirmed in larger cohort and population-based case-control studies, use of the new models to analyse data from NPC-endemic areas could well lead to earlier detection of NPC.

MATHEMATICAL MODEL FOR CALCULATION OF INFORMATION RISKS FOR INFORMATION AND LOGISTICS SYSTEM

Directory of Open Access Journals (Sweden)

A. G. Korobeynikov

2015-05-01

Full Text Available Subject of research. The paper deals with mathematical model for assessment calculation of information risks arising during transporting and distribution of material resources in the conditions of uncertainty. Meanwhile information risks imply the danger of origin of losses or damage as a result of application of information technologies by the company. Method. The solution is based on ideology of the transport task solution in stochastic statement with mobilization of mathematical modeling theory methods, the theory of graphs, probability theory, Markov chains. Creation of mathematical model is performed through the several stages. At the initial stage, capacity on different sites depending on time is calculated, on the basis of information received from information and logistic system, the weight matrix is formed and the digraph is under construction. Then there is a search of the minimum route which covers all specified vertexes by means of Dejkstra algorithm. At the second stage, systems of differential Kolmogorov equations are formed using information about the calculated route. The received decisions show probabilities of resources location in concrete vertex depending on time. At the third stage, general probability of the whole route passing depending on time is calculated on the basis of multiplication theorem of probabilities. Information risk, as time function, is defined by multiplication of the greatest possible damage by the general probability of the whole route passing. In this case information risk is measured in units of damage which corresponds to that monetary unit which the information and logistic system operates with. Main results. Operability of the presented mathematical model is shown on a concrete example of transportation of material resources where places of shipment and delivery, routes and their capacity, the greatest possible damage and admissible risk are specified. The calculations presented on a diagram showed

Optimal, Risk-based Operation and Maintenance Planning for Offshore Wind Turbines

DEFF Research Database (Denmark)

Sørensen, John Dalsgaard

2008-01-01

For offshore wind turbines costs to operation and maintenance are substantial. This paper describes a risk-based life-cycle approach for optimal planning of operation and maintenance. The approach is based on pre-posterior Bayesian decision theory. Deterioration mechanisms such as fatigue...

Research and development modelling in the frame of search - prognosis - risk theory

International Nuclear Information System (INIS)

Valeca, Serban Constantin

2002-01-01

The re-engineering of the power production processes is an approach targeting the future of the competitive power market, undertaken by the custom-tailored managers able to keep the pace of market. The new corporations must be controlled by a flexible management able to adapt the integrated processes to market's changes, to cope to the price and quality competition. Innovating the structures in the frame of a neural network approach may transform the risks in substantial savings of financial resources. Power production re-engineering concept implies three forces thrusting presently the companies toward renewal, namely, the clients, competition and changes. The clients became offensive the competition is more and more acute while the changes implies continuous advancements. The clients order specifically what they want and what they need while give up the producers' patterns. The competition inserts new products in the market, cheaper and of higher quality, thus eliminating the traditional producers. The fast changing of the technologies, products and service distributions or of the co-operation patterns with the client ensures a sustainable development of the corporations. An analysis of the present processes in business shows the following: - the recommended solutions of re-designing the processes should be adopted; - the highest rate of progress is ensured by a continuous innovating policy; - the high quality products and services should be introduced on market when the demand is maximum, while the prices should be shaped to protect optimally the corporation against economic financial risk. The monograph is a synthetical presentation of the economical-industrial re-engineering described in the frame of search-prognosis-risk model implying technological innovation, processes-products-services quality improvement as well as the human factor framed by training-ergonomic-results descriptors. The decision making issue closely related to information processing and cost

Joint relative risks for estrogen receptor-positive breast cancer from a clinical model, polygenic risk score, and sex hormones.

Science.gov (United States)

Shieh, Yiwey; Hu, Donglei; Ma, Lin; Huntsman, Scott; Gard, Charlotte C; Leung, Jessica W T; Tice, Jeffrey A; Ziv, Elad; Kerlikowske, Karla; Cummings, Steven R

2017-11-01

Models that predict the risk of estrogen receptor (ER)-positive breast cancers may improve our ability to target chemoprevention. We investigated the contributions of sex hormones to the discrimination of the Breast Cancer Surveillance Consortium (BCSC) risk model and a polygenic risk score comprised of 83 single nucleotide polymorphisms. We conducted a nested case-control study of 110 women with ER-positive breast cancers and 214 matched controls within a mammography screening cohort. Participants were postmenopausal and not on hormonal therapy. The associations of estradiol, estrone, testosterone, and sex hormone binding globulin with ER-positive breast cancer were evaluated using conditional logistic regression. We assessed the individual and combined discrimination of estradiol, the BCSC risk score, and polygenic risk score using the area under the receiver operating characteristic curve (AUROC). Of the sex hormones assessed, estradiol (OR 3.64, 95% CI 1.64-8.06 for top vs bottom quartile), and to a lesser degree estrone, was most strongly associated with ER-positive breast cancer in unadjusted analysis. The BCSC risk score (OR 1.32, 95% CI 1.00-1.75 per 1% increase) and polygenic risk score (OR 1.58, 95% CI 1.06-2.36 per standard deviation) were also associated with ER-positive cancers. A model containing the BCSC risk score, polygenic risk score, and estradiol levels showed good discrimination for ER-positive cancers (AUROC 0.72, 95% CI 0.65-0.79), representing a significant improvement over the BCSC risk score (AUROC 0.58, 95% CI 0.50-0.65). Adding estradiol and a polygenic risk score to a clinical risk model improves discrimination for postmenopausal ER-positive breast cancers.

Ecological models and pesticide risk assessment: current modeling practice.

Science.gov (United States)

Schmolke, Amelie; Thorbek, Pernille; Chapman, Peter; Grimm, Volker

2010-04-01

Ecological risk assessments of pesticides usually focus on risk at the level of individuals, and are carried out by comparing exposure and toxicological endpoints. However, in most cases the protection goal is populations rather than individuals. On the population level, effects of pesticides depend not only on exposure and toxicity, but also on factors such as life history characteristics, population structure, timing of application, presence of refuges in time and space, and landscape structure. Ecological models can integrate such factors and have the potential to become important tools for the prediction of population-level effects of exposure to pesticides, thus allowing extrapolations, for example, from laboratory to field. Indeed, a broad range of ecological models have been applied to chemical risk assessment in the scientific literature, but so far such models have only rarely been used to support regulatory risk assessments of pesticides. To better understand the reasons for this situation, the current modeling practice in this field was assessed in the present study. The scientific literature was searched for relevant models and assessed according to nine characteristics: model type, model complexity, toxicity measure, exposure pattern, other factors, taxonomic group, risk assessment endpoint, parameterization, and model evaluation. The present study found that, although most models were of a high scientific standard, many of them would need modification before they are suitable for regulatory risk assessments. The main shortcomings of currently available models in the context of regulatory pesticide risk assessments were identified. When ecological models are applied to regulatory risk assessments, we recommend reviewing these models according to the nine characteristics evaluated here. (c) 2010 SETAC.

Model Risk in Portfolio Optimization

Directory of Open Access Journals (Sweden)

David Stefanovits

2014-08-01

Full Text Available We consider a one-period portfolio optimization problem under model uncertainty. For this purpose, we introduce a measure of model risk. We derive analytical results for this measure of model risk in the mean-variance problem assuming we have observations drawn from a normal variance mixture model. This model allows for heavy tails, tail dependence and leptokurtosis of marginals. The results show that mean-variance optimization is seriously compromised by model uncertainty, in particular, for non-Gaussian data and small sample sizes. To mitigate these shortcomings, we propose a method to adjust the sample covariance matrix in order to reduce model risk.

Analysis of The Influence of Liquidity, Credit and Operational Risk, in Indonesian Islamic Bank’s Financing for The Period 2007-2013

Directory of Open Access Journals (Sweden)

Ousmane Diallo

2015-12-01

Full Text Available The purpose of this paper is to analyze the influence of credit, liquidity and operational risks in six Indonesian’s islamic banking financing products namely mudharabah, musyarakah, murabahah, istishna, ijarah and qardh, in order to try to discover whether or not Indonesian islamic banking is based on the “risk-sharing” system. This paper relies on a fixed effect model test based on the panel data analysis method, focusing on the period from 2007 to 2013. The research is an exploratory and descriptive study of all the Indonesian islamic banks that were operating in 2013. The results of this study show that the Islamic banking system in Indonesia truly has banking products based on “risk-sharing.” We found out that credit, operational and liquidity risks as a whole, have significant influence on mudarabah, musyarakah, murabahah, istishna, ijarah and qardh based financing. There is a correlation between the credit risk and mudarabah based financing, and no causal relationship between the credit risk and musharaka, murabahah, ijarah, istishna and qardh based financing. There is also correlation between the operational risk and mudarabah and murabahah based financing, and no causal relationship between the operational risk and musharaka, istishna, ijarah and qardh based financing. There is correlation between the liquidity risk and istishna based financing, and no causal relationship between the liquidity risk and musharaka, mudarabah, murabahah, ijarah and qardh based financing. A major implication of this study is the fact that there is no causal relationship between the credit risk and musharakah based financing, which is the mode of financing where the islamic bank shares the risk with its clients, but there is an influence of credit risk toward mudarabah mode financing, a financing mode where the Islamic bank bears all the risk. These findings can lead us to conclude that the Indonesian Islamic banking sector is based on the “risk

Criterion of Semi-Markov Dependent Risk Model

Institute of Scientific and Technical Information of China (English)

Xiao Yun MO; Xiang Qun YANG

2014-01-01

A rigorous definition of semi-Markov dependent risk model is given. This model is a generalization of the Markov dependent risk model. A criterion and necessary conditions of semi-Markov dependent risk model are obtained. The results clarify relations between elements among semi-Markov dependent risk model more clear and are applicable for Markov dependent risk model.

Gas Storage Valuation and Hedging: A Quantification of Model Risk

Directory of Open Access Journals (Sweden)

Patrick Hénaff

2018-03-01

Full Text Available This paper focuses on the valuation and hedging of gas storage facilities, using a spot-based valuation framework coupled with a financial hedging strategy implemented with futures contracts. The contributions of this paper are two-fold. Firstly, we propose a model that unifies the dynamics of the futures curve and spot price, and accounts for the main stylized facts of the US natural gas market such as seasonality and the presence of price spikes in the spot market. Secondly, we evaluate the associated model risk, and show not only that the valuation is strongly dependent upon the dynamics of the spot price, but more importantly that the hedging strategy commonly used in the industry leaves the storage operator with significant residual price risk.

A Methodology for Modeling Nuclear Power Plant Passive Component Aging in Probabilistic Risk Assessment under the Impact of Operating Conditions, Surveillance and Maintenance Activities

Science.gov (United States)

Guler Yigitoglu, Askin

In the context of long operation of nuclear power plants (NPPs) (i.e., 60-80 years, and beyond), investigation of the aging of passive systems, structures and components (SSCs) is important to assess safety margins and to decide on reactor life extension as indicated within the U.S. Department of Energy (DOE) Light Water Reactor Sustainability (LWRS) Program. In the traditional probabilistic risk assessment (PRA) methodology, evaluating the potential significance of aging of passive SSCs on plant risk is challenging. Although passive SSC failure rates can be added as initiating event frequencies or basic event failure rates in the traditional event-tree/fault-tree methodology, these failure rates are generally based on generic plant failure data which means that the true state of a specific plant is not reflected in a realistic manner on aging effects. Dynamic PRA methodologies have gained attention recently due to their capability to account for the plant state and thus address the difficulties in the traditional PRA modeling of aging effects of passive components using physics-based models (and also in the modeling of digital instrumentation and control systems). Physics-based models can capture the impact of complex aging processes (e.g., fatigue, stress corrosion cracking, flow-accelerated corrosion, etc.) on SSCs and can be utilized to estimate passive SSC failure rates using realistic NPP data from reactor simulation, as well as considering effects of surveillance and maintenance activities. The objectives of this dissertation are twofold: The development of a methodology for the incorporation of aging modeling of passive SSC into a reactor simulation environment to provide a framework for evaluation of their risk contribution in both the dynamic and traditional PRA; and the demonstration of the methodology through its application to pressurizer surge line pipe weld and steam generator tubes in commercial nuclear power plants. In the proposed methodology, a

Fuzzy Stochastic Unit Commitment Model with Wind Power and Demand Response under Conditional Value-At-Risk Assessment

Directory of Open Access Journals (Sweden)

Jiafu Yin

2018-02-01

Full Text Available With the increasing penetration of wind power and demand response integrated into the grid, the combined uncertainties from wind power and demand response have been a challenging concern for system operators. It is necessary to develop an approach to accommodate the combined uncertainties in the source side and load side. In this paper, the fuzzy stochastic conditional value-at-risk criterions are proposed as the risk measure of the combination of both wind power uncertainty and demand response uncertainty. To improve the computational tractability without sacrificing the accuracy, the fuzzy stochastic chance-constrained goal programming is proposed to transfer the fuzzy stochastic conditional value-at-risk to a deterministic equivalent. The operational risk of forecast error under fuzzy stochastic conditional value-at-risk assessment is represented by the shortage of reserve resource, which can be further divided into the load-shedding risk and the wind curtailment risk. To identify different priority levels for the different objective functions, the three-stage day-ahead unit commitment model is proposed through preemptive goal programming, in which the reliability requirement has the priority over the economic operation. Finally, a case simulation is performed on the IEEE 39-bus system to verify the effectiveness and efficiency of the proposed model.

Guide for developing conceptual models for ecological risk assessments

International Nuclear Information System (INIS)

Suter, G.W., II.

1996-05-01

Ecological conceptual models are the result of the problem formulation phase of an ecological risk assessment, which is an important component of the Remedial Investigation process. They present hypotheses of how the site contaminants might affect the site ecology. The contaminant sources, routes, media, routes, and endpoint receptors are presented in the form of a flow chart. This guide is for preparing the conceptual models; use of this guide will standardize the models so that they will be of high quality, useful to the assessment process, and sufficiently consistent so that connections between sources of exposure and receptors can be extended across operable units (OU). Generic conceptual models are presented for source, aquatic integrator, groundwater integrator, and terrestrial OUs

Collision risk-capacity tradeoff analysis of an en-route corridor model

Directory of Open Access Journals (Sweden)

Ye Bojia

2014-02-01

Full Text Available Flow corridors are a new class of trajectory-based airspace which derives from the next generation air transportation system concept of operations. Reducing the airspace complexity and increasing the capacity are the main purposes of the en-route corridor. This paper analyzes the collision risk-capacity tradeoff using a combined discrete–continuous simulation method. A basic two-dimensional en-route flow corridor with performance rules is designed as the operational environment. A second-order system is established by combining the point mass model and the proportional derivative controller together to simulate the self-separation operations of the aircrafts in the corridor and the operation performance parameters from the User Manual for the Base of Aircraft Data are used in this research in order to improve the reliability. Simulation results indicate that the aircrafts can self-separate from each other efficiently by adjusting their velocities, and rationally setting the values of some variables can improve the rate and stability of the corridor with low risks of loss of separation.

An assessment of the risk significance of human errors in selected PSAs and operating events

International Nuclear Information System (INIS)

Palla, R.L. Jr.; El-Bassioni, A.

1991-01-01

Sensitivity studies based on Probabilistic Safety Assessments (PSAs) for a pressurized water reactor and a boiling water reactor are described. In each case human errors modeled in the PSAs were categorized according to such factors as error type, location, timing, and plant personnel involved. Sensitivity studies were then conducted by varying the error rates in each category and evaluating the corresponding change in total core damage frequency and accident sequence frequency. Insights obtained are discussed and reasons for differences in risk sensitivity between plants are explored. A separate investigation into the role of human error in risk-important operating events is also described. This investigation involved the analysis of data from the USNRC Accident Sequence Precursor program to determine the effect of operator-initiated events on accident precursor trends, and to determine whether improved training can be correlated to current trends. The findings of this study are also presented. 5 refs., 15 figs., 1 tab

A method for risk informing procedures at operating nuclear power plants

Energy Technology Data Exchange (ETDEWEB)

Nelson, P. F.; Martin del Campo, C., E-mail: pnelson_007@yahoo.com [UNAM, Facultad de Ingenieria, Departamento de Sistemas Energeticos, Paseo Cuauhnahuac No. 8532, Col. Progreso, 62550 Jiutepec, Morelos (Mexico)

2012-10-15

The technical approach presented establishes a framework intended to provide the necessary elements for a deployable human performance monitoring program that incorporates insights from plant specific probabilistic risk assessments, human reliability analysis, as well as the development of plant specific human failure data. A human performance monitoring program of this structure would be used to provide the ability to risk inform procedures (e.g., operations or maintenance) to determine the operational risk significance of procedural performance (i.e., precautions, prerequisites, procedure steps), the likelihood of consequential human error dur the performance of the procedure, and the identification of procedure specific barriers to reduce or eliminate consequential human errors. The program would provide the means to assess procedures prior to execution and the means to record and trend human failure events leading to a plant specific human failure database for human activities characterized as pre-initiator. The technical methods and data processing for each of these areas are developed and presented, as well as an example application of an operational procedure error leading to a plant level event (i.e, plant trip). (Author)

OPERATIONAL RISK IN INTERNATIONAL BUSINESS: TAXONOMY AND ASSESSMENT METHODS

Directory of Open Access Journals (Sweden)

Marinoiu Ana Maria

2009-05-01

Full Text Available The paper aims at presenting the classifications and the assessment methods for operational risk according to international regulations (ie. Basel 2, in the context of its importance as a managerial tool for international business. Considering the growin

Modeling and simulation with operator scaling

OpenAIRE

Cohen, Serge; Meerschaert, Mark M.; Rosiński, Jan

2010-01-01

Self-similar processes are useful in modeling diverse phenomena that exhibit scaling properties. Operator scaling allows a different scale factor in each coordinate. This paper develops practical methods for modeling and simulating stochastic processes with operator scaling. A simulation method for operator stable Levy processes is developed, based on a series representation, along with a Gaussian approximation of the small jumps. Several examples are given to illustrate practical application...

Asset backed securities : risks, ratings and quantitative modelling

NARCIS (Netherlands)

Jönsson, B.H.B.; Schoutens, W.

2009-01-01

Asset backed securities (ABSs) are structured finance products backed by pools of assets and are created through a securitisation process. The risks in asset backed securities, such as, credit risk, prepayment risk, market risks, operational risk, and legal risks, are directly connected with the

A Systems Modeling Approach for Risk Management of Command File Errors

Science.gov (United States)

Meshkat, Leila

2012-01-01

The main cause of commanding errors is often (but not always) due to procedures. Either lack of maturity in the processes, incompleteness of requirements or lack of compliance to these procedures. Other causes of commanding errors include lack of understanding of system states, inadequate communication, and making hasty changes in standard procedures in response to an unexpected event. In general, it's important to look at the big picture prior to making corrective actions. In the case of errors traced back to procedures, considering the reliability of the process as a metric during its' design may help to reduce risk. This metric is obtained by using data from Nuclear Industry regarding human reliability. A structured method for the collection of anomaly data will help the operator think systematically about the anomaly and facilitate risk management. Formal models can be used for risk based design and risk management. A generic set of models can be customized for a broad range of missions.

The risks of liability for former mine operators: the implementation of a plan for preventing legal risks

International Nuclear Information System (INIS)

Martinet, Y.

2004-01-01

Shutting down mines has 'mechanically' increased the risks of cave-ins. The local (communal and/or departmental) administrations responsible for supervising the situation do not necessarily have the means for managing shafts and tunnels. For this reason, two acts were passed in 1994 and 1999 to reform how mines are managed after shutdowns. Managing post-mining operations has spawned lawsuits against former operators, even though they shut down their mines in compliance with the laws and regulations in force at the time. By virtue of these two acts, administrative authorities are now trying to make the former operators fill in shafts and tunnels. Moreover, individuals often try to obtain compensation for the damages caused by shut-down mines. This situation causes uncertainty for various parties; and the legal settlements being proposed are not sufficiently clear. Information is provided for thinking about how to implement a 'legal risk prevention plan', which former mine operators should bear in mind. (author)

PSOLA: A Heuristic Land-Use Allocation Model Using Patch-Level Operations and Knowledge-Informed Rules.

Directory of Open Access Journals (Sweden)

Yaolin Liu

Full Text Available Optimizing land-use allocation is important to regional sustainable development, as it promotes the social equality of public services, increases the economic benefits of land-use activities, and reduces the ecological risk of land-use planning. Most land-use optimization models allocate land-use using cell-level operations that fragment land-use patches. These models do not cooperate well with land-use planning knowledge, leading to irrational land-use patterns. This study focuses on building a heuristic land-use allocation model (PSOLA using particle swarm optimization. The model allocates land-use with patch-level operations to avoid fragmentation. The patch-level operations include a patch-edge operator, a patch-size operator, and a patch-compactness operator that constrain the size and shape of land-use patches. The model is also integrated with knowledge-informed rules to provide auxiliary knowledge of land-use planning during optimization. The knowledge-informed rules consist of suitability, accessibility, land use policy, and stakeholders' preference. To validate the PSOLA model, a case study was performed in Gaoqiao Town in Zhejiang Province, China. The results demonstrate that the PSOLA model outperforms a basic PSO (Particle Swarm Optimization in the terms of the social, economic, ecological, and overall benefits by 3.60%, 7.10%, 1.53% and 4.06%, respectively, which confirms the effectiveness of our improvements. Furthermore, the model has an open architecture, enabling its extension as a generic tool to support decision making in land-use planning.

Power system operation risk analysis considering charging load self-management of plug-in hybrid electric vehicles

International Nuclear Information System (INIS)

Liu, Zhe; Wang, Dan; Jia, Hongjie; Djilali, Ned

2014-01-01

Highlights: • The interactive mechanism between system and PHEVs is presented. • The charging load self-management without sacrificing user requirements is proposed. • The charging load self-management is coupled to system operation risk analysis. • The charging load self-management can reduce the extra risk brought by PHEVs. • The charging load self-management can shift charging power to the time with low risk. - Abstract: Many jurisdictions around the world are supporting the adoption of electric vehicles through incentives and the deployment of a charging infrastructure to reduce greenhouse gas emissions. Plug-in hybrid electric vehicles (PHEVs), with offer mature technology and stable performance, are expected to gain an increasingly larger share of the consumer market. The aggregated effect on power grid due to large-scale penetration of PHEVs needs to be analyzed. Nighttime-charging which typically characterizes PHEVs is helpful in filling the nocturnal load valley, but random charging of large PHEV fleets at night may result in new load peaks and valleys. Active response strategy is a potentially effective solution to mitigate the additional risks brought by the integration of PHEVs. This paper proposes a power system operation risk analysis framework in which charging load self-management is used to control system operation risk. We describe an interactive mechanism between the system and PHEVs in conjunction with a smart charging model is to simulate the time series power consumption of PHEVs. The charging load is managed with adjusting the state transition boundaries and without violating the users’ desired charging constraints. The load curtailment caused by voltage or power flow violation after outages is determined by controlling charging power. At the same time, the system risk is maintained under an acceptable level through charging load self-management. The proposed method is implemented using the Roy Billinton Test System (RBTS) and

The Launch Systems Operations Cost Model

Science.gov (United States)

Prince, Frank A.; Hamaker, Joseph W. (Technical Monitor)

2001-01-01

One of NASA's primary missions is to reduce the cost of access to space while simultaneously increasing safety. A key component, and one of the least understood, is the recurring operations and support cost for reusable launch systems. In order to predict these costs, NASA, under the leadership of the Independent Program Assessment Office (IPAO), has commissioned the development of a Launch Systems Operations Cost Model (LSOCM). LSOCM is a tool to predict the operations & support (O&S) cost of new and modified reusable (and partially reusable) launch systems. The requirements are to predict the non-recurring cost for the ground infrastructure and the recurring cost of maintaining that infrastructure, performing vehicle logistics, and performing the O&S actions to return the vehicle to flight. In addition, the model must estimate the time required to cycle the vehicle through all of the ground processing activities. The current version of LSOCM is an amalgamation of existing tools, leveraging our understanding of shuttle operations cost with a means of predicting how the maintenance burden will change as the vehicle becomes more aircraft like. The use of the Conceptual Operations Manpower Estimating Tool/Operations Cost Model (COMET/OCM) provides a solid point of departure based on shuttle and expendable launch vehicle (ELV) experience. The incorporation of the Reliability and Maintainability Analysis Tool (RMAT) as expressed by a set of response surface model equations gives a method for estimating how changing launch system characteristics affects cost and cycle time as compared to today's shuttle system. Plans are being made to improve the model. The development team will be spending the next few months devising a structured methodology that will enable verified and validated algorithms to give accurate cost estimates. To assist in this endeavor the LSOCM team is part of an Agency wide effort to combine resources with other cost and operations professionals to

Academic Education Chain Operation Model

NARCIS (Netherlands)

Ruskov, Petko; Ruskov, Andrey

2007-01-01

This paper presents an approach for modelling the educational processes as a value added chain. It is an attempt to use a business approach to interpret and compile existing business and educational processes towards reference models and suggest an Academic Education Chain Operation Model. The model

Korean risk assessment model for breast cancer risk prediction.

Science.gov (United States)

Park, Boyoung; Ma, Seung Hyun; Shin, Aesun; Chang, Myung-Chul; Choi, Ji-Yeob; Kim, Sungwan; Han, Wonshik; Noh, Dong-Young; Ahn, Sei-Hyun; Kang, Daehee; Yoo, Keun-Young; Park, Sue K

2013-01-01

We evaluated the performance of the Gail model for a Korean population and developed a Korean breast cancer risk assessment tool (KoBCRAT) based upon equations developed for the Gail model for predicting breast cancer risk. Using 3,789 sets of cases and controls, risk factors for breast cancer among Koreans were identified. Individual probabilities were projected using Gail's equations and Korean hazard data. We compared the 5-year and lifetime risk produced using the modified Gail model which applied Korean incidence and mortality data and the parameter estimators from the original Gail model with those produced using the KoBCRAT. We validated the KoBCRAT based on the expected/observed breast cancer incidence and area under the curve (AUC) using two Korean cohorts: the Korean Multicenter Cancer Cohort (KMCC) and National Cancer Center (NCC) cohort. The major risk factors under the age of 50 were family history, age at menarche, age at first full-term pregnancy, menopausal status, breastfeeding duration, oral contraceptive usage, and exercise, while those at and over the age of 50 were family history, age at menarche, age at menopause, pregnancy experience, body mass index, oral contraceptive usage, and exercise. The modified Gail model produced lower 5-year risk for the cases than for the controls (p = 0.017), while the KoBCRAT produced higher 5-year and lifetime risk for the cases than for the controls (pKorean women, especially urban women.

THE OPERATIONAL RISK MANAGEMENT IN THE ROMANIAN SMEs

Directory of Open Access Journals (Sweden)

Roxana Mironescu

2015-07-01

Full Text Available The prerequisite for the smooth functioning of the business risk management is the correct identification. Basically, identifying business risks is fundamental to determine the optimal level of protection for a given activity. If the risk is underestimated, the protection will be insufficient to cover losses and, if overstated, the cost of protection will reduce the excess proceeds of the activity. The objective of this research was to identify the internal and external major factors which influence the present activities and the future of the SMEs from the North East region The method used in this paper work is based on a questionnaire applied to a sample of 120 top managers coming from various fields of activity, operating on the market for more than two years. The management of information and the data collection was conducted in the late 2013. In the first stage, a total of 35 risks was identified. The further evaluation of the results used the probability and the impact of the identified risks, based on questionnaires and by processing information from the documentation provided by the managers of SMEs taken under the analysis.

Model of MSD Risk Assessment at Workplace

OpenAIRE

K. Sekulová; M. Šimon

2015-01-01

This article focuses on upper-extremity musculoskeletal disorders risk assessment model at workplace. In this model are used risk factors that are responsible for musculoskeletal system damage. Based on statistic calculations the model is able to define what risk of MSD threatens workers who are under risk factors. The model is also able to say how MSD risk would decrease if these risk factors are eliminated.

RISK MANAGEMENT IN THE OPERATING ACTIVITIES OF AN ENTERPRISE AND IN PUBLIC-PRIVATE PARTNERSHIP PROJECTS

Directory of Open Access Journals (Sweden)

Lech Jędrzejewski

2017-03-01

Full Text Available The paper is devoted to issues related to building a risk management system for businesses in the areas of operations and implementation of infrastructure projects. The article defines the concept of risk in business processes and identifies risks occurring in infrastructure projects. In the text, the principles have been presented for protection against the effects of political, contracting, environmental, ecological, product, process, operational and personnel risk.

Individualized Risk Model for Venous Thromboembolism After Total Joint Arthroplasty.

Science.gov (United States)

Parvizi, Javad; Huang, Ronald; Rezapoor, Maryam; Bagheri, Behrad; Maltenfort, Mitchell G

2016-09-01

Venous thromboembolism (VTE) after total joint arthroplasty (TJA) is a potentially fatal complication. Currently, a standard protocol for postoperative VTE prophylaxis is used that makes little distinction between patients at varying risks of VTE. We sought to develop a simple scoring system identifying patients at higher risk for VTE in whom more potent anticoagulation may need to be administered. Utilizing the National Inpatient Sample data, 1,721,806 patients undergoing TJA were identified, among whom 15,775 (0.9%) developed VTE after index arthroplasty. Among the cohort, all known potential risk factors for VTE were assessed. An initial logistic regression model using potential predictors for VTE was performed. Predictors with little contribution or poor predictive power were pruned from the data, and the model was refit. After pruning of variables that had little to no contribution to VTE risk, using the logistic regression, all independent predictors of VTE after TJA were identified in the data. Relative weights for each factor were determined. Hypercoagulability, metastatic cancer, stroke, sepsis, and chronic obstructive pulmonary disease had some of the highest points. Patients with any of these conditions had risk for postoperative VTE that exceeded the 3% rate. Based on the model, an iOS (iPhone operating system) application was developed (VTEstimator) that could be used to assign patients into low or high risk for VTE after TJA. We believe individualization of VTE prophylaxis after TJA can improve the efficacy of preventing VTE while minimizing untoward risks associated with the administration of anticoagulation. Copyright © 2016 Elsevier Inc. All rights reserved.

Implementation of an operator model with error mechanisms for nuclear power plant control room operation

International Nuclear Information System (INIS)

Suh, Sang Moon; Cheon, Se Woo; Lee, Yong Hee; Lee, Jung Woon; Park, Young Taek

1996-01-01

SACOM(Simulation Analyser with Cognitive Operator Model) is being developed at Korea Atomic Energy Research Institute to simulate human operator's cognitive characteristics during the emergency situations of nuclear power plans. An operator model with error mechanisms has been developed and combined into SACOM to simulate human operator's cognitive information process based on the Rasmussen's decision ladder model. The operational logic for five different cognitive activities (Agents), operator's attentional control (Controller), short-term memory (Blackboard), and long-term memory (Knowledge Base) have been developed and implemented on blackboard architecture. A trial simulation with a scenario for emergency operation has been performed to verify the operational logic. It was found that the operator model with error mechanisms is suitable for the simulation of operator's cognitive behavior in emergency situation

Operational risk: A Basel II++ step before Basel III

OpenAIRE

Guegan , Dominique; Hassani , Bertrand

2011-01-01

URL des Documents de travail : http://ces.univ-paris1.fr/cesdp/cesdp2012.html An article based on this working paper is published in Journal of Risk Management in Financial Institutions, 2012/13, Volume 6, 37-53; Documents de travail du Centre d'Economie de la Sorbonne 2011.53 - ISSN : 1955-611X - Version originale Septembre 2011, révisée en Juillet 2012; Following Banking Committee on Banking Supervision, operational risk quantification is based on the Basel matrix which enables sorting inc...

76 FR 29992 - Loan Policies and Operations; Lending and Leasing Limits and Risk Management

Science.gov (United States)

2011-05-24

... FARM CREDIT ADMINISTRATION 12 CFR Part 614 RIN 3052-AC60 Loan Policies and Operations; Lending and Leasing Limits and Risk Management AGENCY: Farm Credit Administration. ACTION: Final rule. SUMMARY: The... (collectively loan) concentration risks. We expect this final rule will increase the safe and sound operation of...

Electricity market pricing, risk hedging and modeling

Science.gov (United States)

Cheng, Xu

In this dissertation, we investigate the pricing, price risk hedging/arbitrage, and simplified system modeling for a centralized LMP-based electricity market. In an LMP-based market model, the full AC power flow model and the DC power flow model are most widely used to represent the transmission system. We investigate the differences of dispatching results, congestion pattern, and LMPs for the two power flow models. An appropriate LMP decomposition scheme to quantify the marginal costs of the congestion and real power losses is critical for the implementation of financial risk hedging markets. However, the traditional LMP decomposition heavily depends on the slack bus selection. In this dissertation we propose a slack-independent scheme to break LMP down into energy, congestion, and marginal loss components by analyzing the actual marginal cost of each bus at the optimal solution point. The physical and economic meanings of the marginal effect at each bus provide accurate price information for both congestion and losses, and thus the slack-dependency of the traditional scheme is eliminated. With electricity priced at the margin instead of the average value, the market operator typically collects more revenue from power sellers than that paid to power buyers. According to the LMP decomposition results, the revenue surplus is then divided into two parts: congestion charge surplus and marginal loss revenue surplus. We apply the LMP decomposition results to the financial tools, such as financial transmission right (FTR) and loss hedging right (LHR), which have been introduced to hedge against price risks associated to congestion and losses, to construct a full price risk hedging portfolio. The two-settlement market structure and the introduction of financial tools inevitably create market manipulation opportunities. We investigate several possible market manipulation behaviors by virtual bidding and propose a market monitor approach to identify and quantify such

Simplified Model of Safety Determination Process for a Country with its First Operating Nuclear Power Plants

International Nuclear Information System (INIS)

Saud, Bin Khadim; Chung, Dae Wook

2013-01-01

The two inputs are evaluated and given a color designation based on their safety significance. The performance indicators (PIs) in ROP program were developed from a very large statistical basis given operating experience from 100 reactors over a long period of time. The inspection findings are evaluated in terms of changes in core damage frequency using simplified PRA models and in some cases more complex models. The aim of this paper is to develop a simplified risk assessment approach for inspection findings which does not use PRA directly, but may use direct calculation approach. Thus, it would be helpful for inspectors to determine the safety significance of inspection findings. The objective of this study was to develop a simplified risk assessment approach for inspection findings using direct risk calculation model to determine the safety significance. Risk and categorization scheme are developed to put inspection finding into corresponding ΔCDF category

Simplified Model of Safety Determination Process for a Country with its First Operating Nuclear Power Plants

Energy Technology Data Exchange (ETDEWEB)

Saud, Bin Khadim [Korea Advance Institute of Science and Technology, Daejeon (Korea, Republic of); Chung, Dae Wook [Korea Institute of Nuclear Safety, Daejeon (Korea, Republic of)

2013-10-15

The two inputs are evaluated and given a color designation based on their safety significance. The performance indicators (PIs) in ROP program were developed from a very large statistical basis given operating experience from 100 reactors over a long period of time. The inspection findings are evaluated in terms of changes in core damage frequency using simplified PRA models and in some cases more complex models. The aim of this paper is to develop a simplified risk assessment approach for inspection findings which does not use PRA directly, but may use direct calculation approach. Thus, it would be helpful for inspectors to determine the safety significance of inspection findings. The objective of this study was to develop a simplified risk assessment approach for inspection findings using direct risk calculation model to determine the safety significance. Risk and categorization scheme are developed to put inspection finding into corresponding ΔCDF category.

Patient safety in the operating room: an intervention study on latent risk factors

Directory of Open Access Journals (Sweden)

van Beuzekom Martie

2012-06-01

Full Text Available Abstract Background Patient safety is one of the greatest challenges in healthcare. In the operating room errors are frequent and often consequential. This article describes an approach to a successful implementation of a patient safety program in the operating room, focussing on latent risk factors that influence patient safety. We performed an intervention to improve these latent risk factors (LRFs and increase awareness of patient safety issues amongst OR staff. Methods Latent risk factors were studied using a validated questionnaire applied to the OR staff before and after an intervention. A pre-test/post-test control group design with repeated measures was used to evaluate the effects of the interventions. The staff from one operating room of an university hospital acted as the intervention group. Controls consisted of the staff of the operating room in another university hospital. The outcomes were the changes in LRF scores, perceived incident rate, and changes in incident reports between pre- and post-intervention. Results Based on pre-test scores and participants’ key concerns about organizational factors affecting patient safety in their department the intervention focused on the following LRFs: Material Resources, Training and Staffing Recourses. After the intervention, the intervention operating room - compared to the control operating room - reported significantly fewer problems on Material Resources and Staffing Resources and a significantly lower score on perceived incident rate. The contribution of technical factors to incident causation decreased significantly in the intervention group after the intervention. Conclusion The change of state of latent risk factors can be measured using a patient safety questionnaire aimed at these factors. The change of the relevant risk factors (Material and Staffing resources concurred with a decrease in perceived and reported incident rates in the relevant categories. We conclude that

Analysis of uncertainty in modeling perceived risks

International Nuclear Information System (INIS)

Melnyk, R.; Sandquist, G.M.

2005-01-01

Expanding on a mathematical model developed for quantifying and assessing perceived risks, the distribution functions, variances, and uncertainties associated with estimating the model parameters are quantified. The analytical model permits the identification and assignment of any number of quantifiable risk perception factors that can be incorporated within standard risk methodology. Those risk perception factors associated with major technical issues are modeled using lognormal probability density functions to span the potentially large uncertainty variations associated with these risk perceptions. The model quantifies the logic of public risk perception and provides an effective means for measuring and responding to perceived risks. (authors)

System Dynamics Modeling for Emergency Operating System Resilience

Energy Technology Data Exchange (ETDEWEB)

Eng, Ang Wei; Kim, Jong Hyun [KEPCO International Nuclear Graduate School, Ulsan (Korea, Republic of)

2014-10-15

The purpose of this paper is to present a causal model which explain human error cause-effect relationships of emergency operating system (EOS) by using system dynamics (SD) approach. The causal model will further quantified by analyzes nuclear power plant incidents/accidents data in Korea for simulation modeling. Emergency Operating System (EOS) is generally defined as a system which consists personnel, human-machine interface and procedures; and how these components interact and coordinate to respond to an incident or accident. Understanding the behavior of EOS especially personnel behavior and the factors influencing it during accident will contribute in human reliability evaluation. Human Reliability Analysis (HRA) is a method which assesses how human decisions and actions affect to system risk and further used to reduce the human errors probability. There are many HRA method used performance influencing factors (PIFs) to identify the causes of human errors. However, these methods have several limitations. In HRA, PIFs are assumed independent each other and relationship between them are not been study. Through the SD simulation, users able to simulate various situation of nuclear power plant respond to emergency from human and organizational aspects. The simulation also provides users a comprehensive view on how to improve the safety in plants. This paper presents a causal model that explained cause-effect relationships of EOS human. Through SD simulation, users able to identify the main contribution of human error easily. Users can also use SD simulation to predict when and how a human error occurs over time. In future work, the SD model can be expanded more on low level factors. The relationship within low level factors can investigated by using correlation method and further included in the model. This can enables users to study more detailed human error cause-effect relationships and the behavior of EOS. Another improvement can be made is on EOS factors

System Dynamics Modeling for Emergency Operating System Resilience

International Nuclear Information System (INIS)

Eng, Ang Wei; Kim, Jong Hyun

2014-01-01

The purpose of this paper is to present a causal model which explain human error cause-effect relationships of emergency operating system (EOS) by using system dynamics (SD) approach. The causal model will further quantified by analyzes nuclear power plant incidents/accidents data in Korea for simulation modeling. Emergency Operating System (EOS) is generally defined as a system which consists personnel, human-machine interface and procedures; and how these components interact and coordinate to respond to an incident or accident. Understanding the behavior of EOS especially personnel behavior and the factors influencing it during accident will contribute in human reliability evaluation. Human Reliability Analysis (HRA) is a method which assesses how human decisions and actions affect to system risk and further used to reduce the human errors probability. There are many HRA method used performance influencing factors (PIFs) to identify the causes of human errors. However, these methods have several limitations. In HRA, PIFs are assumed independent each other and relationship between them are not been study. Through the SD simulation, users able to simulate various situation of nuclear power plant respond to emergency from human and organizational aspects. The simulation also provides users a comprehensive view on how to improve the safety in plants. This paper presents a causal model that explained cause-effect relationships of EOS human. Through SD simulation, users able to identify the main contribution of human error easily. Users can also use SD simulation to predict when and how a human error occurs over time. In future work, the SD model can be expanded more on low level factors. The relationship within low level factors can investigated by using correlation method and further included in the model. This can enables users to study more detailed human error cause-effect relationships and the behavior of EOS. Another improvement can be made is on EOS factors

Qualitative risk assessment for the 100-NR-2 Operable Unit. Revision 1

International Nuclear Information System (INIS)

1995-03-01

This qualitative risk assessment provides information about the 100- NR-2 Groundwater Operable Unit of the Hanford reservation. Topics discussed in this report are: data evaluation; human health risk assessment overview; ecological evaluations; summary of uncertainty; results of both the ecological and human health evaluations; toxicity assessment; risk characterization; and a summary of contaminants of potential concern

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.

Risk modelling in portfolio optimization

Science.gov (United States)

Lam, W. H.; Jaaman, Saiful Hafizah Hj.; Isa, Zaidi

2013-09-01

Risk management is very important in portfolio optimization. The mean-variance model has been used in portfolio optimization to minimize the investment risk. The objective of the mean-variance model is to minimize the portfolio risk and achieve the target rate of return. Variance is used as risk measure in the mean-variance model. The purpose of this study is to compare the portfolio composition as well as performance between the optimal portfolio of mean-variance model and equally weighted portfolio. Equally weighted portfolio means the proportions that are invested in each asset are equal. The results show that the portfolio composition of the mean-variance optimal portfolio and equally weighted portfolio are different. Besides that, the mean-variance optimal portfolio gives better performance because it gives higher performance ratio than the equally weighted portfolio.

Initial 12-h operative fluid volume is an independent risk factor for pleural effusion after hepatectomy.

Science.gov (United States)

Cheng, Xiang; Wu, Jia-Wei; Sun, Ping; Song, Zi-Fang; Zheng, Qi-Chang

2016-12-01

Pleural effusion after hepatectomy is associated with significant morbidity and prolonged hospital stays. Several studies have addressed the risk factors for postoperative pleural effusion. However, there are no researches concerning the role of the initial 12-h operative fluid volume. The aim of this study was to evaluate whether the initial 12-h operative fluid volume during liver resection is an independent risk factor for pleural effusion after hepatectomy. In this study, we retrospectively analyzed clinical data of 470 patients consecutively undergoing elective hepatectomy between January 2011 and December 2012. We prospectively collected and retrospectively analyzed baseline and clinical data, including preoperative, intraoperative, and postoperative variables. Univariate and multivariate analyses were carried out to identify whether the initial 12-h operative fluid volume was an independent risk factor for pleural effusion after hepatectomy. The multivariate analysis identified 2 independent risk factors for pleural effusion: operative time [odds ratio (OR)=10.2] and initial 12-h operative fluid volume (OR=1.0003). Threshold effect analyses revealed that the initial 12 h operative fluid volume was positively correlated with the incidence of pleural effusion when the initial 12-h operative fluid volume exceeded 4636 mL. We conclude that the initial 12-h operative fluid volume during liver resection and operative time are independent risk factors for pleural effusion after hepatectomy. Perioperative intravenous fluids should be restricted properly.

Determination operation Time Risk of Box Spinning Components-oe Spinning Machine

OpenAIRE

Slobodan Stefanovic

2013-01-01

Based on the constructed dependency diagram reliability of the exploitation operation time of each constituent components of the analyzed frame in the case of selected statistical distributions, areas of the operation exploitation and repair intervals are determined. This is done by determining the first inflection points. Based on these points analysis to determine the time of safety operation of frame components with allowable risk to the segmental linear function of the intensity of failur...

Cognitive modeling and dynamic probabilistic simulation of operating crew response to complex system accidents

International Nuclear Information System (INIS)

Chang, Y.H.J.; Mosleh, A.

2007-01-01

This is the last in a series of five papers that discuss the Information Decision and Action in Crew (IDAC) context for human reliability analysis (HRA) and example application. The model is developed to probabilistically predict the responses of the control room operating crew in nuclear power plants during an accident, for use in probabilistic risk assessments (PRA). The operator response spectrum includes cognitive, emotional, and physical activities during the course of an accident. This paper describes a dynamic PRA computer simulation program, accident dynamics simulator (ADS), developed in part to implement the IDAC model. This paper also provides a detailed example of implementing a simpler version of IDAC, compared with the IDAC model discussed in the first four papers of this series, to demonstrate the practicality of integrating a detailed cognitive HRA model within a dynamic PRA framework

Risk-Informed Monitoring, Verification and Accounting (RI-MVA). An NRAP White Paper Documenting Methods and a Demonstration Model for Risk-Informed MVA System Design and Operations in Geologic Carbon Sequestration

Energy Technology Data Exchange (ETDEWEB)

Unwin, Stephen D.; Sadovsky, Artyom; Sullivan, E. C.; Anderson, Richard M.

2011-09-30

This white paper accompanies a demonstration model that implements methods for the risk-informed design of monitoring, verification and accounting (RI-MVA) systems in geologic carbon sequestration projects. The intent is that this model will ultimately be integrated with, or interfaced with, the National Risk Assessment Partnership (NRAP) integrated assessment model (IAM). The RI-MVA methods described here apply optimization techniques in the analytical environment of NRAP risk profiles to allow systematic identification and comparison of the risk and cost attributes of MVA design options.

Agents, Bayes, and Climatic Risks - a modular modelling approach

Directory of Open Access Journals (Sweden)

A. Haas

2005-01-01

Full Text Available When insurance firms, energy companies, governments, NGOs, and other agents strive to manage climatic risks, it is by no way clear what the aggregate outcome should and will be. As a framework for investigating this subject, we present the LAGOM model family. It is based on modules depicting learning social agents. For managing climate risks, our agents use second order probabilities and update them by means of a Bayesian mechanism while differing in priors and risk aversion. The interactions between these modules and the aggregate outcomes of their actions are implemented using further modules. The software system is implemented as a series of parallel processes using the CIAMn approach. It is possible to couple modules irrespective of the language they are written in, the operating system under which they are run, and the physical location of the machine.

Agents, Bayes, and Climatic Risks - a modular modelling approach

Science.gov (United States)

Haas, A.; Jaeger, C.

2005-08-01

When insurance firms, energy companies, governments, NGOs, and other agents strive to manage climatic risks, it is by no way clear what the aggregate outcome should and will be. As a framework for investigating this subject, we present the LAGOM model family. It is based on modules depicting learning social agents. For managing climate risks, our agents use second order probabilities and update them by means of a Bayesian mechanism while differing in priors and risk aversion. The interactions between these modules and the aggregate outcomes of their actions are implemented using further modules. The software system is implemented as a series of parallel processes using the CIAMn approach. It is possible to couple modules irrespective of the language they are written in, the operating system under which they are run, and the physical location of the machine.

Supply Chain Vulnerability Analysis Using Scenario-Based Input-Output Modeling: Application to Port Operations.

Science.gov (United States)

Thekdi, Shital A; Santos, Joost R

2016-05-01

Disruptive events such as natural disasters, loss or reduction of resources, work stoppages, and emergent conditions have potential to propagate economic losses across trade networks. In particular, disruptions to the operation of container port activity can be detrimental for international trade and commerce. Risk assessment should anticipate the impact of port operation disruptions with consideration of how priorities change due to uncertain scenarios and guide investments that are effective and feasible for implementation. Priorities for protective measures and continuity of operations planning must consider the economic impact of such disruptions across a variety of scenarios. This article introduces new performance metrics to characterize resiliency in interdependency modeling and also integrates scenario-based methods to measure economic sensitivity to sudden-onset disruptions. The methods will be demonstrated on a U.S. port responsible for handling $36.1 billion of cargo annually. The methods will be useful to port management, private industry supply chain planning, and transportation infrastructure management. © 2015 Society for Risk Analysis.

Conceptualizing a Dynamic Fall Risk Model Including Intrinsic Risks and Exposures.

Science.gov (United States)

Klenk, Jochen; Becker, Clemens; Palumbo, Pierpaolo; Schwickert, Lars; Rapp, Kilan; Helbostad, Jorunn L; Todd, Chris; Lord, Stephen R; Kerse, Ngaire

2017-11-01

Falls are a major cause of injury and disability in older people, leading to serious health and social consequences including fractures, poor quality of life, loss of independence, and institutionalization. To design and provide adequate prevention measures, accurate understanding and identification of person's individual fall risk is important. However, to date, the performance of fall risk models is weak compared with models estimating, for example, cardiovascular risk. This deficiency may result from 2 factors. First, current models consider risk factors to be stable for each person and not change over time, an assumption that does not reflect real-life experience. Second, current models do not consider the interplay of individual exposure including type of activity (eg, walking, undertaking transfers) and environmental risks (eg, lighting, floor conditions) in which activity is performed. Therefore, we posit a dynamic fall risk model consisting of intrinsic risk factors that vary over time and exposure (activity in context). eHealth sensor technology (eg, smartphones) begins to enable the continuous measurement of both the above factors. We illustrate our model with examples of real-world falls from the FARSEEING database. This dynamic framework for fall risk adds important aspects that may improve understanding of fall mechanisms, fall risk models, and the development of fall prevention interventions. Copyright © 2017 AMDA – The Society for Post-Acute and Long-Term Care Medicine. Published by Elsevier Inc. All rights reserved.

Methodology for Radiological Risk Assessment of Deep Borehole Disposal Operations

Energy Technology Data Exchange (ETDEWEB)

Hardin, Ernest; Su, Jiann-Cherng; Peretz, Fred(ORNL)

2017-03-01

The primary purpose of the preclosure radiological safety assessment (that this document supports) is to identify risk factors for disposal operations, to aid in design for the deep borehole field test (DBFT) engineering demonstration.

Risk management of exposure to chemicals under operational conditions

NARCIS (Netherlands)

Langenberg, J.P.

2007-01-01

The HFM panel has decided to install an Exploratory Team, ET-078, which should advise whether or not a Technical Group (TG) should be established on the subject of risk management of exposure to chemicals under operational conditions. This paper described the context and approach of ET-078.

Minimally traumatic stapes surgery for otosclerosis: Risk reduction of post-operative vertigo

Directory of Open Access Journals (Sweden)

An-Suey Shiao

2018-06-01

Full Text Available Background: The author (Dr. Shiao modified traditional stapes surgery (TSS specifically for patients with otosclerosis. The proposed technique, referred to as minimally traumatic stapes surgery (MTSS, reduces the risk of subjective discomfort (i.e. vertigo and tinnitus following surgery. This paper compares the effectiveness of MTSS with that of TSS. Methods: The medical records of patients with otosclerosis after stapes surgery (TSS or MTSS were analyzed. Outcome variables included post-operative vertigo, tinnitus, and hearing success. Multivariate logistic regression analysis was used to determine the correlation between surgical technique and outcome variables. Results: TSS was performed in 23 otosclerosis ears and MTSS was performed in 33 otosclerosis ears. The risk of post-operative vertigo was significantly lower among patients that underwent MTSS (27% than among those that underwent TSS (83%, p < 0.001. No differences in the incidence of tinnitus were observed between the two groups. Post-operative audiometric outcomes were also equivalent between the two groups. However, multivariate logistic regression analysis revealed a correlation between post-operative vertigo and surgical technique (p < 0.001. Conclusion: MTSS involves a lower risk of vertigo than does TSS. MTSS helps to prevent damage to the footplate, thereby reducing the risk of footplate floating. Therefore, MTSS provides a means to overcome some of the limitations associated with the narrow surgical field in Asian patients. Keywords: Footplate floating, Minimally traumatic, Otosclerosis, Stapes surgery, Vertigo

Environmental modeling and health risk analysis (ACTS/RISK)

National Research Council Canada - National Science Library

Aral, M. M

2010-01-01

... presents a review of the topics of exposure and health risk analysis. The Analytical Contaminant Transport Analysis System (ACTS) and Health RISK Analysis (RISK) software tools are an integral part of the book and provide computational platforms for all the models discussed herein. The most recent versions of these two softwa...

Towards The Operational Oceanographic Model System In Estonian Coastal Sea, Baltic Sea

Science.gov (United States)

Kõuts, T.; Elken, J.; Raudsepp, U.

An integrated system of nested 2D and 3D hydrodynamic models together with real time forcing data asquisition is designed and set up in pre-operational mode in the Gulf of Finland and Gulf of Riga, the Baltic Sea. Along the Estonian coast, implicit time-stepping 3D models are used in the deep bays and 2D models in the shallow bays with ca 200 m horizontal grid step. Specific model setups have been verified by in situ current measurements. Optimum configuration of initial parameters has been found for certain critical locations, usually ports, oil terminals, etc. Operational system in- tegrates also section of historical database of most important hydrologic parameters in the region, allowing use of certain statistical analysis and proper setup of initial conditions for oceanographic models. There is large variety of applications for such model system, ranging from environmental impact assessment at local coastal sea pol- lution problems to forecast of offshore blue algal blooms. Most probable risk factor in the coastal sea engineering is oil pollution, therefore current operational model sys- tem has direct custom oriented output the oil spill forecast for critical locations. Oil spill module of the operational system consist the automatic weather and hydromet- ric station (distributed in real time to internet) and prognostic model of sea surface currents. System is run using last 48 hour wind data and wind forecast and estimates probable oil deposition areas on the shoreline under certain weather conditions. Cal- culated evolution of oil pollution has been compared with some real accidents in the past and there was found good agreement between model and measurements. Graphi- cal user interface of oil spill model is currently installed at location of port authorities (eg. Muuga port), so in case of accidents it could be used in real time supporting the rescue operations. In 2000 current pre-operational oceanographic model system has been sucessfully used to

Ethical issues in engineering models: an operations researcher's reflections.

Science.gov (United States)

Kleijnen, J

2011-09-01

This article starts with an overview of the author's personal involvement--as an Operations Research consultant--in several engineering case-studies that may raise ethical questions; e.g., case-studies on nuclear waste, water management, sustainable ecology, military tactics, and animal welfare. All these case studies employ computer simulation models. In general, models are meant to solve practical problems, which may have ethical implications for the various stakeholders; namely, the modelers, the clients, and the public at large. The article further presents an overview of codes of ethics in a variety of disciples. It discusses the role of mathematical models, focusing on the validation of these models' assumptions. Documentation of these model assumptions needs special attention. Some ethical norms and values may be quantified through the model's multiple performance measures, which might be optimized. The uncertainty about the validity of the model leads to risk or uncertainty analysis and to a search for robust models. Ethical questions may be pressing in military models, including war games. However, computer games and the related experimental economics may also provide a special tool to study ethical issues. Finally, the article briefly discusses whistleblowing. Its many references to publications and websites enable further study of ethical issues in modeling.

Evolution and Implementation of the NASA Robotic Conjunction Assessment Risk Analysis Concept of Operations

Science.gov (United States)

Newman, L.; Hejduk, M.; Frigm, R.; Duncan, M.

2014-09-01

On-orbit collisions pose a significant mission risk to satellites operating in the space environment. Recognizing the likelihood and consequence of on-orbit collisions, NASA has taken several proactive measures to mitigate the risk of both a catastrophic loss of mission and the increase in the space debris population. In fall 2004, NASA GSFC established an Agency-wide, institutionalized process and service for identifying and reacting to predicted close approaches. The team responsible for executing this mission is the NASA Robotic Conjunction Assessment Risk Analysis (CARA) team. By fall 2005, this process had resulted in the execution of the first collision avoidance maneuver by a NASA unmanned satellite. In February 2008, NASA adopted a policy, documented in NASA Procedural Requirement 8715.6a Process for Limiting Orbital Debris that directed maneuverable satellites to have such an on-orbit collision mitigation process. In 2009, NASA decided to require support for all operational satellites. By January 2014, the CARA team has processed nearly 500,000 close approach messages from the Joint Space Operations Center (JSpOC) and has assisted our mission customers with planning and executing over 75 collision avoidance maneuvers for unmanned satellites in LEO, GEO, and HEO orbital regimes. With the increase in number of operational missions supported; growth in the orbital debris environment due to events such as the intentional destruction of the Fengyun 1-C satellite in 2007 and collision between Iridium-33 and Cosmos-2251; and improvements to the United States Space Surveillance Network (SSN) and its ability to track, catalog, and screen against small debris objects, the demands on the CARA process have consequently required the CARA Concept of Operations (CONOPS) to evolve to manage those demands. This evolution is centered on the ability to effectively and efficiently manage JSpOC, CARA, and Mission Operations resources, applying operational and analytical

Prolonged Operative Duration Increases Risk of Surgical Site Infections: A Systematic Review.

Science.gov (United States)

Cheng, Hang; Chen, Brian Po-Han; Soleas, Ireena M; Ferko, Nicole C; Cameron, Chris G; Hinoul, Piet

The incidence of surgical site infection (SSI) across surgical procedures, specialties, and conditions is reported to vary from 0.1% to 50%. Operative duration is often cited as an independent and potentially modifiable risk factor for SSI. The objective of this systematic review was to provide an in-depth understanding of the relation between operating time and SSI. This review included 81 prospective and retrospective studies. Along with study design, likelihood of SSI, mean operative times, time thresholds, effect measures, confidence intervals, and p values were extracted. Three meta-analyses were conducted, whereby odds ratios were pooled by hourly operative time thresholds, increments of increasing operative time, and surgical specialty. Pooled analyses demonstrated that the association between extended operative time and SSI typically remained statistically significant, with close to twice the likelihood of SSI observed across various time thresholds. The likelihood of SSI increased with increasing time increments; for example, a 13%, 17%, and 37% increased likelihood for every 15 min, 30 min, and 60 min of surgery, respectively. On average, across various procedures, the mean operative time was approximately 30 min longer in patients with SSIs compared with those patients without. Prolonged operative time can increase the risk of SSI. Given the importance of SSIs on patient outcomes and health care economics, hospitals should focus efforts to reduce operative time.

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.

Operational characteristics of nuclear power plants - modelling of operational safety

International Nuclear Information System (INIS)

Studovic, M.

1984-01-01

By operational experience of nuclear power plants and realize dlevel of availability of plant, systems and componenst reliabiliuty, operational safety and public protection, as a source on nature of distrurbances in power plant systems and lessons drawn by the TMI-2, in th epaper are discussed: examination of design safety for ultimate ensuring of safe operational conditions of the nuclear power plant; significance of the adequate action for keeping proess parameters in prescribed limits and reactor cooling rquirements; developed systems for measurements detection and monitoring all critical parameters in the nuclear steam supply system; contents of theoretical investigation and mathematical modeling of the physical phenomena and process in nuclear power plant system and components as software, supporting for ensuring of operational safety and new access in staff education process; program and progress of the investigation of some physical phenomena and mathematical modeling of nuclear plant transients, prepared at faculty of mechanical Engineering in Belgrade. (author)

DEVELOPMENT OF A RISK SCREENING METHOD FOR CREDITED OPERATOR ACTIONS

International Nuclear Information System (INIS)

HIGGINS, J.C.; O'HARA, J.M.; LEWIS, P.M.; PERSENSKY, J.; BONGARRA, J.

2002-01-01

DEVELOPMENT OF A RISK SCREENING METHOD FOR CREDITED OPERATOR ACTIONS. THE U.S. NUCLEAR REGULATORY COMMISSION (NRC) REVIEWS THE HUMAN FACTORS ASPECTS OF PROPOSED LICENSE AMENDMENTS THAT IMPACT HUMAN ACTIONS THAT ARE CREDITED IN A PLANTS SAFETY ANALYSIS. THE STAFF IS COMMITTED TO A GRADED APPROACH TO THESE REVIEWS THAT FOCUS RESOURCES ON THE MOST RISK IMPORTANT CHANGES. THEREFORE, A RISK INFORMED SCREENING METHOD WAS DEVELOPED BASED ON AN ADAPTATION OF EXISTING GUIDANCE FOR RISK INFORMED REGULATION AND HUMAN FACTORS. THE METHOD USES BOTH QUANTITATIVE AND QUALITATIVE INFORMATION TO DIVIDE THE AMENDMENT REQUESTS INTO DIFFERENT LEVELS OF REVIEW. THE METHOD WAS EVALUATED USING A VARIETY OF TESTS. THIS PAPER WILL SUMMARIZE THE DEVELOPMENT OF THE METHODOLOGY AND THE EVALUATIONS THAT WERE PERFORMED TO VERIFY ITS USEFULNESS

Patients at High-Risk for Surgical Site Infection.

Science.gov (United States)

Mueck, Krislynn M; Kao, Lillian S

Surgical site infections (SSIs) are a significant healthcare quality issue, resulting in increased morbidity, disability, length of stay, resource utilization, and costs. Identification of high-risk patients may improve pre-operative counseling, inform resource utilization, and allow modifications in peri-operative management to optimize outcomes. Review of the pertinent English-language literature. High-risk surgical patients may be identified on the basis of individual risk factors or combinations of factors. In particular, statistical models and risk calculators may be useful in predicting infectious risks, both in general and for SSIs. These models differ in the number of variables; inclusion of pre-operative, intra-operative, or post-operative variables; ease of calculation; and specificity for particular procedures. Furthermore, the models differ in their accuracy in stratifying risk. Biomarkers may be a promising way to identify patients at high risk of infectious complications. Although multiple strategies exist for identifying surgical patients at high risk for SSIs, no one strategy is superior for all patients. Further efforts are necessary to determine if risk stratification in combination with risk modification can reduce SSIs in these patient populations.

[The application of two occupation health risk assessment models in a wooden furniture manufacturing industry].

Science.gov (United States)

Wang, A H; Leng, P B; Bian, G L; Li, X H; Mao, G C; Zhang, M B

2016-10-20

Objective: To explore the applicability of 2 different models of occupational health risk assessment in wooden furniture manufacturing industry. Methods: American EPA inhalation risk model and ICMM model of occupational health risk assessment were conducted to assess occupational health risk in a small wooden furniture enterprises, respectively. Results: There was poor protective measure and equipment of occupational disease in the plant. The concentration of wood dust in the air of two workshops was over occupational exposure limit (OEL) , and the C TWA was 8.9 mg/m 3 and 3.6 mg/m 3 , respectively. According to EPA model, the workers who exposed to benzene in this plant had high risk (9.7×10 -6 ~34.3×10 -6 ) of leukemia, and who exposed to formaldehyde had high risk (11.4 × 10 -6 ) of squamous cell carcinoma. There were inconsistent evaluation results using the ICMM tools of standard-based matrix and calculated risk rating. There were very high risks to be attacked by rhinocarcinoma of the workers who exposed to wood dust for the tool of calculated risk rating, while high risk for the tool of standard-based matrix. For the workers who exposed to noise, risk of noise-induced deafness was unacceptable and medium risk using two tools, respectively. Conclusion: Both EPA model and ICMM model can appropriately predict and assessthe occupational health risk in wooden furniture manufactory, ICMM due to the relatively simple operation, easy evaluation parameters, assessment of occupational - disease - inductive factors comprehensively, and more suitable for wooden furniture production enterprise.

Health risks associated with ingesting venison from a uranium enrichment facility with multiple operable units

International Nuclear Information System (INIS)

Duncan, J.; Welsh, C.

1995-01-01

Ingestion of game, including venison, may be a significant exposure pathway in human health risk assessments at hazardous waste sites. The difficulty associated with modeling contaminant tissue concentrations in a wide-ranging herbivorous mammal is compounded when the home range of the mammal extends over multiple operable units (OUs) of varying size and media contaminant concentration. Using biotransfer factors extracted from the literature and species-specific parameter information (e.g., home range size, diet, forage and water ingestion rates) the authors estimate contaminant concentrations in venison based on soil and surface water contaminant concentrations and determine the contribution of individual OUs to modeled venison tissue concentrations. Estimated tissue concentrations are calculated through the use of site foraging factors (SFFS) that adjust exposure contributions from individual OUs to account for the size of the OU in relation to the animals home range. The authors then use the venison tissue concentrations to estimate human health risk associated with ingesting venison under both a current and future exposure scenario

Nuclear power investment risk economic model

International Nuclear Information System (INIS)

Houghton, W.J.; Postula, F.D.

1985-12-01

This paper describes an economic model which was developed to evaluate the net costs incurred by a utility due to an accident induced outage at a nuclear power plant. During such an outage the portion of the plant operating costs associated with power production are saved; however, the owning utility faces a sizable expense as fossil fuels are burned as a substitute for the incapacitated nuclear power. Additional expenses are incurred by the utility for plant repair and if necessary, decontamination costs. The model makes provision for mitigating these costs by sales of power, property damage insurance payments, tax write-offs and increased rates. Over 60 economic variables contribute to the net cost uncertainty. The values of these variables are treated as uncertainty distributions and are used in a Monte carlo computer program to evaluate the cost uncertainty (investment risk) associated with damage which could occur from various categories of initiating accidents. As an example, results of computations for various levels of damage associated with a loss of coolant accident are shown as a range of consequential plant downtime and unrecovered cost. A typical investment risk profile is shown for these types of accidents. Cost/revenue values for each economic factor are presented for a Three Mile Island - II type accident, e.g., uncontrolled core heatup. 4 refs., 6 figs., 3 tabs

Analytical modeling of nuclear power station operator reliability

International Nuclear Information System (INIS)

Sabri, Z.A.; Husseiny, A.A.

1979-01-01

The operator-plant interface is a critical component of power stations which requires the formulation of mathematical models to be applied in plant reliability analysis. The human model introduced here is based on cybernetic interactions and allows for use of available data from psychological experiments, hot and cold training and normal operation. The operator model is identified and integrated in the control and protection systems. The availability and reliability are given for different segments of the operator task and for specific periods of the operator life: namely, training, operation and vigilance or near retirement periods. The results can be easily and directly incorporated in system reliability analysis. (author)

Managing risks of market price uncertainty for a microgrid operation

Science.gov (United States)

Raghavan, Sriram

After deregulation of electricity in the United States, the day-ahead and real-time markets allow load serving entities and generation companies to bid and purchase/sell energy under the supervision of the independent system operator (ISO). The electricity market prices are inherently uncertain, and can be highly volatile. The main objective of this thesis is to hedge against the risk from the uncertainty of the market prices when purchasing/selling energy from/to the market. The energy manager can also schedule distributed generators (DGs) and storage of the microgrid to meet the demand, in addition to energy transactions from the market. The risk measure used in this work is the variance of the uncertain market purchase/sale cost/revenue, assuming the price following a Gaussian distribution. Using Markowitz optimization, the risk is minimized to find the optimal mix of purchase from the markets. The problem is formulated as a mixed integer quadratic program. The microgrid at Illinois Institute of Technology (IIT) in Chicago, IL was used as a case study. The result of this work reveals the tradeoff faced by the microgrid energy manager between minimizing the risk and minimizing the mean of the total operating cost (TOC) of the microgrid. With this information, the microgrid energy manager can make decisions in the day-ahead and real-time markets according to their risk aversion preference. The assumption of market prices following Gaussian distribution is also verified to be reasonable for the purpose of hedging against their risks. This is done by comparing the result of the proposed formulation with that obtained from the sample market prices randomly generated using the distribution of actual historic market price data.

MULTILANGUAGE WEBSITE CONCEPT FOR OPERATIONAL IT RISK RESEARCH

OpenAIRE

Romānovs, Andrejs; Lektauers, Arnis; Merkurjevs, Jurijs; Klimovs, Ruslans

2015-01-01

The paper presents an approach of researches effective organization in sphere of operational IT risk governance. For this purpose, the application of digital multilanguage research area is advised, which can simplify discussion processes for users/researchers from different countries. The concept of multilanguage website is developed based on performed analysis of following modern IT application trends of website development: Web 2.0., social networks, blogs, wiki, etc. Then, practical soluti...

Development of a diagnosis- and procedure-based risk model for 30-day outcome after pediatric cardiac surgery.

Science.gov (United States)

Crowe, Sonya; Brown, Kate L; Pagel, Christina; Muthialu, Nagarajan; Cunningham, David; Gibbs, John; Bull, Catherine; Franklin, Rodney; Utley, Martin; Tsang, Victor T

2013-05-01

The study objective was to develop a risk model incorporating diagnostic information to adjust for case-mix severity during routine monitoring of outcomes for pediatric cardiac surgery. Data from the Central Cardiac Audit Database for all pediatric cardiac surgery procedures performed in the United Kingdom between 2000 and 2010 were included: 70% for model development and 30% for validation. Units of analysis were 30-day episodes after the first surgical procedure. We used logistic regression for 30-day mortality. Risk factors considered included procedural information based on Central Cardiac Audit Database "specific procedures," diagnostic information defined by 24 "primary" cardiac diagnoses and "univentricular" status, and other patient characteristics. Of the 27,140 30-day episodes in the development set, 25,613 were survivals, 834 were deaths, and 693 were of unknown status (mortality, 3.2%). The risk model includes procedure, cardiac diagnosis, univentricular status, age band (neonate, infant, child), continuous age, continuous weight, presence of non-Down syndrome comorbidity, bypass, and year of operation 2007 or later (because of decreasing mortality). A risk score was calculated for 95% of cases in the validation set (weight missing in 5%). The model discriminated well; the C-index for validation set was 0.77 (0.81 for post-2007 data). Removal of all but procedural information gave a reduced C-index of 0.72. The model performed well across the spectrum of predicted risk, but there was evidence of underestimation of mortality risk in neonates undergoing operation from 2007. The risk model performs well. Diagnostic information added useful discriminatory power. A future application is risk adjustment during routine monitoring of outcomes in the United Kingdom to assist quality assurance. Copyright © 2013 The American Association for Thoracic Surgery. Published by Mosby, Inc. All rights reserved.

A probabilistic topic model for clinical risk stratification from electronic health records.

Science.gov (United States)

Huang, Zhengxing; Dong, Wei; Duan, Huilong

2015-12-01

Risk stratification aims to provide physicians with the accurate assessment of a patient's clinical risk such that an individualized prevention or management strategy can be developed and delivered. Existing risk stratification techniques mainly focus on predicting the overall risk of an individual patient in a supervised manner, and, at the cohort level, often offer little insight beyond a flat score-based segmentation from the labeled clinical dataset. To this end, in this paper, we propose a new approach for risk stratification by exploring a large volume of electronic health records (EHRs) in an unsupervised fashion. Along this line, this paper proposes a novel probabilistic topic modeling framework called probabilistic risk stratification model (PRSM) based on Latent Dirichlet Allocation (LDA). The proposed PRSM recognizes a patient clinical state as a probabilistic combination of latent sub-profiles, and generates sub-profile-specific risk tiers of patients from their EHRs in a fully unsupervised fashion. The achieved stratification results can be easily recognized as high-, medium- and low-risk, respectively. In addition, we present an extension of PRSM, called weakly supervised PRSM (WS-PRSM) by incorporating minimum prior information into the model, in order to improve the risk stratification accuracy, and to make our models highly portable to risk stratification tasks of various diseases. We verify the effectiveness of the proposed approach on a clinical dataset containing 3463 coronary heart disease (CHD) patient instances. Both PRSM and WS-PRSM were compared with two established supervised risk stratification algorithms, i.e., logistic regression and support vector machine, and showed the effectiveness of our models in risk stratification of CHD in terms of the Area Under the receiver operating characteristic Curve (AUC) analysis. As well, in comparison with PRSM, WS-PRSM has over 2% performance gain, on the experimental dataset, demonstrating that

Risk assessment to an integrated planning model for UST programs

International Nuclear Information System (INIS)

Ferguson, K.W.

1993-01-01

The US Postal Service maintains the largest civilian fleet in the United States totaling approximately 180,000 vehicles. To support the fleets daily energy requirements, the Postal Service also operates one of the largest networks of underground storage tanks nearly 7,500 nationwide. A program to apply risk assessment to planning, budget development and other management actions was implemented during September, 1989. Working closely with a consultant, the postal service developed regulatory and environmental risk criteria and weighting factors for a ranking model. The primary objective was to identify relative risks for each underground tank at individual facilities. Relative risks at each facility were determined central to prioritizing scheduled improvements to the tank network. The survey was conducted on 302 underground tanks in the Northeast Region of the US. An environmental and regulatory risk score was computed for each UST. By ranking the tanks according to their risk score, tanks were classified into management action categories including, but the limited to, underground tank testing, retrofit, repair, replacement and closure

Modeling Control Situations in Power System Operations

DEFF Research Database (Denmark)

Saleem, Arshad; Lind, Morten; Singh, Sri Niwas

2010-01-01

for intelligent operation and control must represent system features, so that information from measurements can be related to possible system states and to control actions. These general modeling requirements are well understood, but it is, in general, difficult to translate them into a model because of the lack...... of explicit principles for model construction. This paper presents a work on using explicit means-ends model based reasoning about complex control situations which results in maintaining consistent perspectives and selecting appropriate control action for goal driven agents. An example of power system......Increased interconnection and loading of the power system along with deregulation has brought new challenges for electric power system operation, control and automation. Traditional power system models used in intelligent operation and control are highly dependent on the task purpose. Thus, a model...

Risk-Based Operation and Maintenance of Offshore Wind Turbines

DEFF Research Database (Denmark)

Nielsen, Jannie Sønderkær

to oil and gas structures. In addition, condition monitoring systems are often available, and the information should be taken into account when making decisions. In this thesis, methods for risk-based maintenance planning using Bayesian methods are investigated, with the aim of making optimal decisions......, but presently maintenance is not planned using advanced methods taking all available information into account in a consistent manner. Maintenance decisions can be made based on risk-based methods, where the total expected life cycle costs are minimized. Methods have been developed for assessing the corrective...... considering all available information. First, a theoretical damage model is formulated, the model is then updated using condition monitoring data, and the updated model is used as basis for risk-based decision making. Several approaches for solving the decision problems have been considered: various types...

A new approach to hazardous materials transportation risk analysis: decision modeling to identify critical variables.

Science.gov (United States)

Clark, Renee M; Besterfield-Sacre, Mary E

2009-03-01

We take a novel approach to analyzing hazardous materials transportation risk in this research. Previous studies analyzed this risk from an operations research (OR) or quantitative risk assessment (QRA) perspective by minimizing or calculating risk along a transport route. Further, even though the majority of incidents occur when containers are unloaded, the research has not focused on transportation-related activities, including container loading and unloading. In this work, we developed a decision model of a hazardous materials release during unloading using actual data and an exploratory data modeling approach. Previous studies have had a theoretical perspective in terms of identifying and advancing the key variables related to this risk, and there has not been a focus on probability and statistics-based approaches for doing this. Our decision model empirically identifies the critical variables using an exploratory methodology for a large, highly categorical database involving latent class analysis (LCA), loglinear modeling, and Bayesian networking. Our model identified the most influential variables and countermeasures for two consequences of a hazmat incident, dollar loss and release quantity, and is one of the first models to do this. The most influential variables were found to be related to the failure of the container. In addition to analyzing hazmat risk, our methodology can be used to develop data-driven models for strategic decision making in other domains involving risk.

Risk assessment of maintenance operations: the analysis of performing task and accident mechanism.

Science.gov (United States)

Carrillo-Castrillo, Jesús A; Rubio-Romero, Juan Carlos; Guadix, Jose; Onieva, Luis

2015-01-01

Maintenance operations cover a great number of occupations. Most small and medium-sized enterprises lack the appropriate information to conduct risk assessments of maintenance operations. The objective of this research is to provide a method based on the concepts of task and accident mechanisms for an initial risk assessment by taking into consideration the prevalence and severity of the maintenance accidents reported. Data were gathered from 11,190 reported accidents in maintenance operations in the manufacturing sector of Andalusia from 2003 to 2012. By using a semi-quantitative methodology, likelihood and severity were evaluated based on the actual distribution of accident mechanisms in each of the tasks. Accident mechanisms and tasks were identified by using those variables included in the European Statistics of Accidents at Work methodology. As main results, the estimated risk of the most frequent accident mechanisms identified for each of the analysed tasks is low and the only accident mechanisms with medium risk are accidents when lifting or pushing with physical stress on the musculoskeletal system in tasks involving carrying, and impacts against objects after slipping or stumbling for tasks involving movements. The prioritisation of public preventive actions for the accident mechanisms with a higher estimated risk is highly recommended.

Fuzzy rule-based model for hydropower reservoirs operation

Energy Technology Data Exchange (ETDEWEB)

Moeini, R.; Afshar, A.; Afshar, M.H. [School of Civil Engineering, Iran University of Science and Technology, Tehran (Iran, Islamic Republic of)

2011-02-15

Real-time hydropower reservoir operation is a continuous decision-making process of determining the water level of a reservoir or the volume of water released from it. The hydropower operation is usually based on operating policies and rules defined and decided upon in strategic planning. This paper presents a fuzzy rule-based model for the operation of hydropower reservoirs. The proposed fuzzy rule-based model presents a set of suitable operating rules for release from the reservoir based on ideal or target storage levels. The model operates on an 'if-then' principle, in which the 'if' is a vector of fuzzy premises and the 'then' is a vector of fuzzy consequences. In this paper, reservoir storage, inflow, and period are used as premises and the release as the consequence. The steps involved in the development of the model include, construction of membership functions for the inflow, storage and the release, formulation of fuzzy rules, implication, aggregation and defuzzification. The required knowledge bases for the formulation of the fuzzy rules is obtained form a stochastic dynamic programming (SDP) model with a steady state policy. The proposed model is applied to the hydropower operation of ''Dez'' reservoir in Iran and the results are presented and compared with those of the SDP model. The results indicate the ability of the method to solve hydropower reservoir operation problems. (author)

Comparison of four contemporary risk models at predicting mortality after aortic valve replacement.

Science.gov (United States)

Wang, Tom Kai Ming; Choi, David H M; Stewart, Ralph; Gamble, Greg; Haydock, David; Ruygrok, Peter

2015-02-01

Risk stratification for aortic valve replacement (AVR) is desirable given the increased demand for intervention and the introduction of transcatheter aortic valve implantation. We compared the prognostic utility of the European System for Cardiac Operative Risk Evaluation (EuroSCORE), EuroSCORE II, Society of Thoracic Surgeons (STS) score, and an Australasian model (Aus-AVR score) for AVR. We retrospectively calculated the 4 risk scores for patients undergoing isolated AVR at Auckland City Hospital from 2005 to 2012 and assessed their discrimination and calibration for short- and long-term mortality. A total of 620 patients were followed up for 3.8 ± 2.4 years, with an operative mortality of 2.9% (n = 18). The mean EuroSCORE, EuroSCORE II, STS score, and Aus-AVR score was 8.7% ± 8.3%, 3.8% ± 4.7%, 2.8% ± 2.7%, and 3.2% ± 4.8%, respectively. The corresponding C-statistics for operative mortality were 0.752 (95% confidence interval [CI], 0.652-0.852), 0.711 (95% CI, 0.607-0.815), 0.716 (95% CI, 0.593-0.837), and 0.684 (95% CI, 0.557-0.811). The corresponding Hosmer-Lemeshow test P and chi-square values for calibration were .007 and 21.1, .125 and 12.6, .753 and 5.0, and .468 and 7.7. The corresponding Brier scores were 0.0348, 0.0278, 0.0276, and 0.0294. Independent predictors of operative mortality included critical preoperative state, atrial fibrillation, extracardiac arteriopathy, and mitral stenosis. The log-rank test P values were all <.001 for mortality during follow-up for all 4 scores, stratified by quintile. All 4 risk scores discriminated operative mortality after isolated AVR. The EuroSCORE had poor calibration, overestimating operative mortality, although the other 3 scores fitted well with contemporary outcomes. The STS score was the best calibrated in the highest quintile of operative risk. Copyright © 2015 The American Association for Thoracic Surgery. Published by Elsevier Inc. All rights reserved.

Models of Credit Risk Measurement

OpenAIRE

Hagiu Alina

2011-01-01

Credit risk is defined as that risk of financial loss caused by failure by the counterparty. According to statistics, for financial institutions, credit risk is much important than market risk, reduced diversification of the credit risk is the main cause of bank failures. Just recently, the banking industry began to measure credit risk in the context of a portfolio along with the development of risk management started with models value at risk (VAR). Once measured, credit risk can be diversif...

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.

A heuristic model for risk and cost impacts of plant outage maintenance schedule

International Nuclear Information System (INIS)

Mohammad Hadi Hadavi, S.

2009-01-01

Cost and risk are two major competing criteria in maintenance optimization problems. If a plant is forced to shutdown because of accident or fear of accident happening, beside loss of revenue, it causes damage to the credibility and reputation of the business operation. In this paper a heuristic model for incorporating three compelling optimization criteria (i.e., risk, cost, and loss) into a single evaluation function is proposed. Such a model could be used in any evaluation engine of outage maintenance schedule optimizer. It is attempted to make the model realistic and to address the ongoing challenges facing a schedule planner in a simple and commonly understandable fashion. Two simple competing schedules for the NPP feedwater system are examined against the model. The results show that while the model successfully addresses the current challenges for outage maintenance optimization, it properly demonstrates the dynamics of schedule in regards to risk, cost, and losses endured by maintenance schedule, particularly when prolonged outage and lack of maintenance for equipments in need of urgent care are of concern.

Reactor core modeling practice: Operational requirements, model characteristics, and model validation

International Nuclear Information System (INIS)

Zerbino, H.

1997-01-01

The physical models implemented in power plant simulators have greatly increased in performance and complexity in recent years. This process has been enabled by the ever increasing computing power available at affordable prices. This paper describes this process from several angles: First the operational requirements which are more critical from the point of view of model performance, both for normal and off-normal operating conditions; A second section discusses core model characteristics in the light of the solutions implemented by Thomson Training and Simulation (TT and S) in several full-scope simulators recently built and delivered for Dutch, German, and French nuclear power plants; finally we consider the model validation procedures, which are of course an integral part of model development, and which are becoming more and more severe as performance expectations increase. As a conclusion, it may be asserted that in the core modeling field, as in other areas, the general improvement in the quality of simulation codes has resulted in a fairly rapid convergence towards mainstream engineering-grade calculations. This is remarkable performance in view of the stringent real-time requirements which the simulation codes must satisfy as well as the extremely wide range of operating conditions that they are called upon to cover with good accuracy. (author)

Modeling Operations Costs for Human Exploration Architectures

Science.gov (United States)

Shishko, Robert

2013-01-01

Operations and support (O&S) costs for human spaceflight have not received the same attention in the cost estimating community as have development costs. This is unfortunate as O&S costs typically comprise a majority of life-cycle costs (LCC) in such programs as the International Space Station (ISS) and the now-cancelled Constellation Program. Recognizing this, the Constellation Program and NASA HQs supported the development of an O&S cost model specifically for human spaceflight. This model, known as the Exploration Architectures Operations Cost Model (ExAOCM), provided the operations cost estimates for a variety of alternative human missions to the moon, Mars, and Near-Earth Objects (NEOs) in architectural studies. ExAOCM is philosophically based on the DoD Architecture Framework (DoDAF) concepts of operational nodes, systems, operational functions, and milestones. This paper presents some of the historical background surrounding the development of the model, and discusses the underlying structure, its unusual user interface, and lastly, previous examples of its use in the aforementioned architectural studies.

Modeling Optimal Scheduling for Pumping System to Minimize Operation Cost and Enhance Operation Reliability

Directory of Open Access Journals (Sweden)

Yin Luo

2012-01-01

Full Text Available Traditional pump scheduling models neglect the operation reliability which directly relates with the unscheduled maintenance cost and the wear cost during the operation. Just for this, based on the assumption that the vibration directly relates with the operation reliability and the degree of wear, it could express the operation reliability as the normalization of the vibration level. The characteristic of the vibration with the operation point was studied, it could be concluded that idealized flow versus vibration plot should be a distinct bathtub shape. There is a narrow sweet spot (80 to 100 percent BEP to obtain low vibration levels in this shape, and the vibration also follows similar law with the square of the rotation speed without resonance phenomena. Then, the operation reliability could be modeled as the function of the capacity and rotation speed of the pump and add this function to the traditional model to form the new. And contrast with the tradition method, the result shown that the new model could fix the result produced by the traditional, make the pump operate in low vibration, then the operation reliability could increase and the maintenance cost could decrease.

Operational Plan Ontology Model for Interconnection and Interoperability

Science.gov (United States)

Long, F.; Sun, Y. K.; Shi, H. Q.

2017-03-01

Aiming at the assistant decision-making system’s bottleneck of processing the operational plan data and information, this paper starts from the analysis of the problem of traditional expression and the technical advantage of ontology, and then it defines the elements of the operational plan ontology model and determines the basis of construction. Later, it builds up a semi-knowledge-level operational plan ontology model. Finally, it probes into the operational plan expression based on the operational plan ontology model and the usage of the application software. Thus, this paper has the theoretical significance and application value in the improvement of interconnection and interoperability of the operational plan among assistant decision-making systems.

Methodology for Developing a Probabilistic Risk Assessment Model of Spacecraft Rendezvous and Dockings

Science.gov (United States)

Farnham, Steven J., II; Garza, Joel, Jr.; Castillo, Theresa M.; Lutomski, Michael

2011-01-01

In 2007 NASA was preparing to send two new visiting vehicles carrying logistics and propellant to the International Space Station (ISS). These new vehicles were the European Space Agency s (ESA) Automated Transfer Vehicle (ATV), the Jules Verne, and the Japanese Aerospace and Explorations Agency s (JAXA) H-II Transfer Vehicle (HTV). The ISS Program wanted to quantify the increased risk to the ISS from these visiting vehicles. At the time, only the Shuttle, the Soyuz, and the Progress vehicles rendezvoused and docked to the ISS. The increased risk to the ISS was from an increase in vehicle traffic, thereby, increasing the potential catastrophic collision during the rendezvous and the docking or berthing of the spacecraft to the ISS. A universal method of evaluating the risk of rendezvous and docking or berthing was created by the ISS s Risk Team to accommodate the increasing number of rendezvous and docking or berthing operations due to the increasing number of different spacecraft, as well as the future arrival of commercial spacecraft. Before the first docking attempt of ESA's ATV and JAXA's HTV to the ISS, a probabilistic risk model was developed to quantitatively calculate the risk of collision of each spacecraft with the ISS. The 5 rendezvous and docking risk models (Soyuz, Progress, Shuttle, ATV, and HTV) have been used to build and refine the modeling methodology for rendezvous and docking of spacecrafts. This risk modeling methodology will be NASA s basis for evaluating the addition of future ISS visiting spacecrafts hazards, including SpaceX s Dragon, Orbital Science s Cygnus, and NASA s own Orion spacecraft. This paper will describe the methodology used for developing a visiting vehicle risk model.

Multilevel joint competing risk models

Science.gov (United States)

Karunarathna, G. H. S.; Sooriyarachchi, M. R.

2017-09-01

Joint modeling approaches are often encountered for different outcomes of competing risk time to event and count in many biomedical and epidemiology studies in the presence of cluster effect. Hospital length of stay (LOS) has been the widely used outcome measure in hospital utilization due to the benchmark measurement for measuring multiple terminations such as discharge, transferred, dead and patients who have not completed the event of interest at the follow up period (censored) during hospitalizations. Competing risk models provide a method of addressing such multiple destinations since classical time to event models yield biased results when there are multiple events. In this study, the concept of joint modeling has been applied to the dengue epidemiology in Sri Lanka, 2006-2008 to assess the relationship between different outcomes of LOS and platelet count of dengue patients with the district cluster effect. Two key approaches have been applied to build up the joint scenario. In the first approach, modeling each competing risk separately using the binary logistic model, treating all other events as censored under the multilevel discrete time to event model, while the platelet counts are assumed to follow a lognormal regression model. The second approach is based on the endogeneity effect in the multilevel competing risks and count model. Model parameters were estimated using maximum likelihood based on the Laplace approximation. Moreover, the study reveals that joint modeling approach yield more precise results compared to fitting two separate univariate models, in terms of AIC (Akaike Information Criterion).

The third experiment of operation and evaluation of online risk communication assistant tool, 'ORCAT'

International Nuclear Information System (INIS)

Katsumura, Soichiro; Kimura, Hiroshi; Furuta, Kazuo; Tanaka, Hiroshi

2006-01-01

Risk communication about the high-level radioactive waste (HLW) disposal is necessary for public acceptance of HLW disposal program. Online Risk Communication Assistant Tool (ORCAT) system is developed in order to support risk communication for HLW disposal on World Wide Web. We have been evaluating ORCAT system. After two test operations, we carried out the third test operation from Aug. 29 to Dec. 12, 2005. In the third test operation, 100 participants answered the questionnaires about the attitude change and knowledge. We classified the participants into two groups by the analysis on the number of login a week, and analyzed the change of the amount of subjective and objective knowledge. In the result of analysis on knowledge, the increase of amount of subjective knowledge doesn't always carried the increase of amount of objective knowledge. On the whole we found that the ORCAT system is evaluated useful to the risk communication about the HLW disposal. (author)

Development of operator thinking model and its application to nuclear reactor plant operation system

International Nuclear Information System (INIS)

Miki, Tetsushi; Endou, Akira; Himeno, Yoshiaki

1992-01-01

At first, this paper presents the developing method of an operator thinking model and the outline of the developed model. In next, it describes the nuclear reactor plant operation system which has been developed based on this model. Finally, it has been confirmed that the method described in this paper is very effective in order to construct expert systems which replace the reactor operator's role with AI (artificial intelligence) systems. (author)

Risk-Based Operation and Maintenance Planning for Offshore Wind Turbines

DEFF Research Database (Denmark)

Nielsen, Jannie Jessen; Sørensen, John Dalsgaard

2010-01-01