WorldWideScience

Sample records for political risk management

  1. The place of Political Risk Insurance in the political risk management strategy of multinational corporations

    Directory of Open Access Journals (Sweden)

    Violeta Iftinchi

    2016-06-01

    Full Text Available Confronted with a variety of political risks that affect their international activities, multinational corporations (MNCs can use Political Risk Insurance (PRI as a method to mitigate some of those risks. The aim of this article is to present the main characteristics of the PRI policies and participants, to highlight its benefits and to put forward three limitations that prevent MNCs in using PRI in their political risk management strategy (fluctuating capacity on the market, high premium rates and small compensation value. The recent trend in incorporating corporate social responsibility requirements as a pre-condition for providing PRI can contribute to lowering PRI premium rates.

  2. Expanding the disaster risk management framework: Measuring the constructed level of national identity as a factor of political risk

    Directory of Open Access Journals (Sweden)

    Barend Prinsloo

    2016-08-01

    Full Text Available Political risk is identified as a dominant risk category of disaster risk management (DRM which could negatively affect the success of those measures implemented to reduce disaster risk. Key to political risk is the construct of national identity which, if poorly constructed, could greatly contribute to political risk. This article proposed a tool to measure the construct of national identity and to provide recommendations to strengthen the construct in order to mitigate the exacerbating influence it may have on political risk and ultimately on DRM. The design of the measurement tool consisted of a mixed methodological approach employing both quantitative and qualitative data. The data collection instruments included a literature review (which is shortly provided in the previous sections and an empirical study that utilised data obtained through structured questionnaires. Although the results of the proposed measuring instrument did not include a representative sample of all the cultures in SouthAfrica, the results alluded to different levels for the construction of national identity among black and white respondents, possibly because of different ideological expectations among these groups. The results of the study should be considered as a validation of the measuring tool and not necessarily of the construct of national identity in South Africa. The measuring tool is thus promising for future studies to reduce political risk and ultimately disaster risk.

  3. Management and policy: political strategies and instruments of the risk types

    International Nuclear Information System (INIS)

    Renn, O.; Klinke, A.

    1998-01-01

    The main objective of the risk classification is to gain an effective and feasible policy tool for the evaluation and the management or risks. The characterisation provides a platform for designing specific political strategies and measures for each risk type. The strategies pursue the goal to transform unacceptable into acceptable risks, i.e. the risks should not be reduced to zero, but they should be reduced to a level that routine risk management becomes sufficient to ensure safety and integrity. All strategies and respective measures are arranged according to priorities. In the normal case more than one strategy and more than one measure are naturally appropriate and necessary. If resources are limited, strategies and measures should be taken in line with the priority list. The following part lists the prior strategies and the prior measures recommended for each risk type. (authors)

  4. How is political risk managed and prioritised in the aerospace and defence industry across different institutional contexts?

    OpenAIRE

    Ramanathan, Alexandre

    2015-01-01

    This dissertation investigates the management and prioritisation of political risk in the aerospace and defence industry using a multiple research approach of 2014 corporate annual reports, surveys, interviews and fuzzy set QCA analysis. The aim of the paper sets out to demonstrate that political risk in the aerospace and defence industry extends further than the traditional definitions based on host-country conditions and the social license to operate, but also largely on the dual relatio...

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

    Science.gov (United States)

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

    2013-01-01

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

  6. Risk, responsibility and political action

    DEFF Research Database (Denmark)

    Halskov Jensen, Elisabeth

    2004-01-01

    ABSTRACT. This paper presents an argumentative case study of the discursive representation of risk, responsibility and political action in the Spanish media. The study uses a critical discourse analytical approach combined with theories on risk, agency and political communication in the media....... It is argued that an application of the Toulmin model is useful for eliciting systematic overall repre-sentations of responsibility and agency in environmental crises such as the mad cow crisis as well as for revealing relationships between social domains such as moral, politics, economics and science...... in discourse. Discourse analysis shows that in the Spanish newspaper sample the focus was on the construal of high risk and on the construal of the national Spanish politicians, the EU and the Brit-ish nation as scapegoats. No responsibility was associated with consumers or other individual players. Political...

  7. Politics of Manageability

    DEFF Research Database (Denmark)

    Berthou, Sara Kristine Gløjmar

    This thesis revolves around ideas of social change and attempts to ameliorate the consequences of climate change at the local level. Based on extensive ethnographic fieldwork participating in the making of a Local Agenda 21 plan the thesis explores rationales and practices of planning, governing ...... as serious political support for the climate change mitigation agenda....

  8. Risk, responsibility and political action

    DEFF Research Database (Denmark)

    Halskov Jensen, Elisabeth

    2004-01-01

    . It is argued that an application of the Toulmin model is useful for eliciting systematic overall repre-sentations of responsibility and agency in environmental crises such as the mad cow crisis as well as for revealing relationships between social domains such as moral, politics, economics and science......ABSTRACT. This paper presents an argumentative case study of the discursive representation of risk, responsibility and political action in the Spanish media. The study uses a critical discourse analytical approach combined with theories on risk, agency and political communication in the media...... action was transformed into a moral respon-sibility on the part of the national and European politicians, constrained by economic and technical-scientific reality and represented as taking place only in the public sphere. KEY WORDS: CDA, World Risk Society, argumentation, media discourse, argumentation...

  9. Democracy, political risks and stock market performance

    OpenAIRE

    Lehkonen, Heikki; Heimonen, Kari

    2015-01-01

    This study examines the impacts of democracy and political risk on stock market. Using annualized panel data for 49 emerging markets for 2000–2012 we find evidence that democracy and political risk do have impact on stock market returns and the relationship between democracy and political risk is parabolic, i.e., there is a threshold level of democracy after which political risk begins to decline. Also our results suggest that decreases in political risk lead to higher returns.

  10. The Politics of Management Knowledge.

    Science.gov (United States)

    Clegg, Stewart R., Ed.; Palmer, Gill, Ed.

    This book recognizes the political nature of management knowledge, as a discourse produced from, and reproducing, power processes within and between organizations. Critical examinations of certain current management theories--lean production, excellence, entrepreneurship--are examples of relations of power that intermingle with relations of…

  11. Risk, science, and politics

    Energy Technology Data Exchange (ETDEWEB)

    Harrison, K.; Hoberg, G. [British Columbia Univ., Vancouver, BC (Canada)

    1994-12-31

    Case studies of seven controversial substances suspected of causing cancer in humans were analysed: the pesticides Alar and Alachor, urea-formaldehyde foam insulation, radon gas, dioxin, saccharin, and asbestos. Government regulation of toxic substances in Canada and the U.S. were examined. The strengths and weaknesses of each country`s approach were weighted according to five criteria: stringency and timeliness of the regulatory decision, balancing of risks and benefits by decision makers, opportunities for public participation, and the interpretation of science in regulatory decision making. Dramatically different approaches to regulatory science in the two countries were highlighted. The Canadian approach is exemplified by closed decision making, case-by-case review relying heavily on expert judgement, and limited public debate. In contrast, the American approach is characterized by publication of lengthy rationales for regulatory decisions, reliance on standardized procedures for risk assessment, and controversy surrounding the interpretation of scientific evidence. The general conclusion was that both the Canadian and U.S.approaches offer uncertain risks and benefits; the key question is how the risks compare with the benefits, and which consequences are valued the most. Extensive bibliographic notes are provided for each chapter.

  12. The politics of risk in the Philippines: comparing state and NGO perceptions of disaster management

    NARCIS (Netherlands)

    Bankoff, G.E.A.; Hilhorst, D.J.M.

    2009-01-01

    It is now generally appreciated that what constitutes vulnerability to one person is not necessarily perceived as such by the next. Different actors 'see' disasters as different types of events and as a result they prepare for, manage and record them in very different ways. This paper explores what

  13. Risk management

    OpenAIRE

    Mcmanus, John

    2009-01-01

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

  14. Insure Against Commercial and Political Risks

    International Nuclear Information System (INIS)

    Fergusson, Fergus

    2003-01-01

    The oil and gas sector is enormously diverse, ranging from the giant exploration, production and supply companies to the manufacturers, suppliers and service providers that support an industry of crucial importance to the global community. For understandable reasons, risk management in the oil and gas sector has tended to concentrate on health and safety and environmental issues. Consideration must be made for the risks of engaging in domestic and international trade. The concept of risk and the consequential discipline of risk management underpin and support many of the fundamental activities that maintain successful trade flows. Risk management revolves around the organised procedures of mitigating the foreseen and unforeseen consequences of danger, injury and loss that can have adverse and potentially catastrophic effects on the environment, human lives, economies, political stability and business performance

  15. Politics of Manageability

    DEFF Research Database (Denmark)

    Berthou, Sara Kristine Gløjmar

    and managing the social as it unfolds in local climate change mitigation in the municipality of Copenhagen. The overall research objectives of the thesis seek to investigate the overall rationales and practices that shape the way climate change mitigation is conceived of; the ways in which these rationales...... and practices are related to the actual experiences of citizens; who and what are the targets of local mitigation activities; and the larger societal context that supports these kinds of rationales and practices. Drawing on a combination of social practice theories and governmentality studies, the argument...... citizens in the making of the Local Agenda 21 plan have potential for renewing institutional understandings and practices, the thesis thus argues that if local mitigation activities are to create significant social change, civil servants need to be given a wider mandate, allocation of funding, as well...

  16. The Political Economy of Intergenerational Risk Sharing

    NARCIS (Netherlands)

    Hollanders, D.A.

    2010-01-01

    This paper analyses the political constraints of intergenerational risk sharing. The rst result is that the political process generally does not lead to ex ante optimal insurance. The second result is that in a second best political setting PAYG still contributes to intergenerational risk sharing.

  17. The Political Economy of Regulatory Risk

    OpenAIRE

    Strausz, Roland

    2009-01-01

    I investigate the argument that, in a two–party system with different regulatory objectives, political uncertainty generates regulatory risk. I show that this risk has a fluctuation effect that hurts both parties and an output–expansion effect that benefits one party. Consequently, at least one party dislikes regulatory risk. Moreover, both political parties gain from eliminating regulatory risk when political divergence is small or the winning probability of the regulatory–risk–averse party ...

  18. 'When you use the term 'long term', how long is that term'. Risk, Exclusion, and the Politics of Knowledge Production in Canadian Nuclear Fuel Waste Management Policy Making

    International Nuclear Information System (INIS)

    Stanley, Anna

    2006-01-01

    Risk operates within Canadian Nuclear Fuel Waste (NFW) management policy making as a heuristic for knowledge production about its effects which reconciles the knowledge of the nuclear industry with the outcomes of the NFW management process. In so doing it marginalizes the present and historical experiences of Aboriginal peoples with the nuclear industry, and removes from view the ways in which they have been implicated in the geography and political economy of the nuclear industry. Risk is a discursive form that protects a particular group's claims about the effects of NFW by providing it a universalizing epistemological structure with which to obscure its connection to context. Further risk discourse provides the nuclear industry with a conceptual vocabulary that deliberately casts all competing knowledge as perceptions, values, or as an object of inquiry. The arguments of Aboriginal peoples about the residual effects of radiation in their lands which hosted nuclear activities, such as uranium mining and disposal, have no representation in how the discourse of risk defines and represents knowledge, and thus no purchase in the policy debate. As a result the challenge they present to the nuclear industry's claims are contained. The arrangements which permit the unloading of the negative effects of nuclear power generation onto Aboriginal peoples are thus reproduced (both materially and conceptually), but not shown, by the policy making process and likely, its outcome. In order to raise critical questions about the democratic abilities of risk, this paper has examined the role of 'risk' in Canadian NFW policy making. I have shown how when the politics of knowledge production within the philosophy of risk is analyzed, and the use and role of the notion of risk are interrogated, difficult questions are posed for the democratic potential of risk. I have suggested, through an analysis of the NWMO's representations of Aboriginal content in their process, that in this

  19. The Management of Political Actors in Institutions

    Directory of Open Access Journals (Sweden)

    Peter Odion Omoijiade

    2016-10-01

    Full Text Available The argument that the minimization of the dysfunctional consequences of organizational politics is no longer dependent on self-equilibrating mechanism remains valid. This inquiry is therefore framed with a view to establishing suitable strategies for managing political actors. There is a nexus between the diagnosis typology of political actors and the qualitative classes of political actors and their management strategies. In the management of mixed blessing, supportive, non-supportive and marginal political actors; collaborative, involvement, defensive and information strategies respectively were found suitable. This research is based on existing theoretical knowledge on organizational politics and stakeholders management. Data was collected from the literature by means of critical analysis and dialectic reflection on the emerging themes. The study will enhance capability in contexts where the scientific management of political actors is yet to be exemplified.

  20. Countering Political Risk in Colonial India

    DEFF Research Database (Denmark)

    Lubinski, Christina; Giacomin, Valeria; Schnitzer, Klara

    of their employees in British camps during both WWI and WWII. We find that internment impacted business relationships in India well beyond its endpoint and that the WWI internment shaped the subsequent perception of and strategic response to the WWII experience. We show that internment aggravated existing staffing...... challenges, impacted the perception of racial lines of distinctions and re-casted the category “European business.” While internment was perceived and managed as a political risk, the case also shows that it created unexpected networking opportunities, generating a tight community of German businesspeople...

  1. Risk management.

    Science.gov (United States)

    Chambers, David W

    2010-01-01

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

  2. Element of risk: The politics of radon

    International Nuclear Information System (INIS)

    Cole, L.A.

    1994-01-01

    The recent history of the Environmental Protection Agency's (EPA) approach to managing the risk of indoor radon offers a rich base from which to consider US practice in risk assessment, management, and communication. The biological evidence of risks from high-level exposure to radon is in many ways stronger--and the gap to be spanned by extrapolation from laboratory animal studies to ambient exposures narrower--than for many of the toxic and hazardous air pollutants that have been the focus of EPA regulatory attention. The epidemiological evidence about radon is complicated by a number of confounding variables, but this is often the state of epidemiological evidence. Radon has also been the focus of a considerable amount of research on risk communication. To complete the promising ingredients, disagreements between federal regulators at EPA and managers of federal nuclear programs run by the Department of Energy (DOE) concerning radon from uranium mill tailings, for example, and other issues in radiation health physics offer a rich array of opportunities to explore issues in federal bureaucratic politics. This book provides a straightforward report of much of the development of US policy on indoor radon over the past decade. As such, it gives readers unfamiliar with the evolution of radon regulation an opportunity to come quickly up to speed on many historical details

  3. Management of Technology - a political process approach

    DEFF Research Database (Denmark)

    Koch, Christian

    1999-01-01

    Most management of technology writings fail to address enterprise developments as political processes, where visions, coalitions and emergence are central features. The paper report of a participants observation study of management of technology processes.......Most management of technology writings fail to address enterprise developments as political processes, where visions, coalitions and emergence are central features. The paper report of a participants observation study of management of technology processes....

  4. Political uncertainty and firm risk in China

    Directory of Open Access Journals (Sweden)

    Danglun Luo

    2017-12-01

    Full Text Available The political uncertainty surrounded by the turnover of government officials has a major impact on local economies and local firms. This paper investigates the relationship between the turnover of prefecture-city officials and the inherent risk faced by local firms in China. Using data from 1999 to 2012, we find that prefecture-city official turnovers significantly increased firm risk. Our results show that the political risk was mitigated when new prefecture-city officials were well connected with their provincial leaders. In addition, the impact of political uncertainty was more pronounced for regulated firms and firms residing in provinces with low market openness.

  5. Women, politics and global management.

    Science.gov (United States)

    Chen, L C; Fitzgerald, W M; Bates, L

    1995-01-01

    The United Nations (UN) sponsored three decennial world population conferences over the period 1974-94. The first such conference was held in 1974 in Bucharest, Romania, at which the North and the South became polarized over the importance of demographics relative to other development concerns. Northern countries proposed vigorous family planning programs to control rapid population growth, while many Southern governments, led by China and India, argued instead that higher priority should be given to socioeconomic development and the more equitable distribution of resources between the North and South. After a decade of extremely rapid population growth, however, most Southern countries had adopted antinatalist policies by the second world population conference held in 1984 in Mexico City. While Southern countries had adopted the 1974 Northern view of world population growth, widespread political and religious conservatism in the US at the time of the second conference had the US delegation opposing abortion and being neutral on demographic factors. The US argued that private markets would solve many population problems and the US government even withdrew financial support to several international organizations, such as the International Planned Parenthood Federation and the UN Population Fund. The third decennial UN-sponsored world population conference, the 1994 International Conference on Population and Development (ICPD) held in Cairo, Egypt, however, succeeded in shifting concern about world demographics into a gender-sensitive, people-centered approach of sustainable human development and bringing sensitive and ideologically charged population issues into the public domain. It was also a landmark in the management of complex global problems such as population. The international consensus achieved in Cairo and summarized in a World Program of Action was truly a monumental achievement. The authors note the shift in rhetoric to concerns about women's status and

  6. Managing Risks

    DEFF Research Database (Denmark)

    Alaranta, Maria Eliisa; Mathiassen, Lars

    2014-01-01

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

  7. Proactive Management, Reactive Management, and Perceived Political Support

    OpenAIRE

    Lee, Young-Joo; Ryu, Sangyub

    2013-01-01

    Starting from the assumption that political support is essential for public managers to manage their organizations, this study investigates factors that enhance political leaders' support toward top executives in public organizations. Based on the literature of proactive behaviors, this study tests hypothesis that proactive managers are more likely to acquire political support. Analyses on more than 500 cases in Texas school districts find that superintendents perceive more support from their...

  8. Gender, risk assessment, and political ambition.

    Science.gov (United States)

    Sweet-Cushman, Jennie

    2016-01-01

    In the United States, women have long held the right to vote and can participate fully in the political process, and yet they are underrepresented at all levels of elected office. Worldwide, men's dominance in the realm of politics has also been the norm. To date, scholars have focused on supply-side and demand-side explanations of women's underrepresentation but differences in how men and women assess electoral risk (the risk involved in seeking political office) are not fully explained. To fill this gap, I explore how evolutionary theory offers insights into gendered differences in political ambition and the evaluation of electoral risk. Using the framework of life-history theory, I hypothesize that both cognitive and environmental factors in human evolution, particularly as they relate to sexual selection and social roles, have shaped the psychology of ambition in gendered ways affecting contemporary politics. Cognitive risk-assessment mechanisms evolving in the hominid line came to be expressed differently in females and males, in women and men. These gendered expressions plausibly reflect differentiable environmental pressures in the past and may help explain behaviors in and barriers to women's electoral political activity in the present. If so, then the success of efforts to increase such activity - or, regressively, to suppress it - may be better understood.

  9. The politics of urban climate risks

    DEFF Research Database (Denmark)

    Blok, Anders

    2018-01-01

    makes valuable contributions, this article suggests that all of them remain under-theorized from the point of view of the specific dynamics of local–global interdependencies in urban climate risk politics. In response, the article draws on Beck in outlining the contours of new urban–cosmopolitan risk...... to the study of urban climate politics, by way of asking what contribution Ulrich Beck’s theory of world risk society – and principles of methodological cosmopolitanism – make to such epochal conversations? Three main analytical frameworks stand out: low-carbon transition literature highlight generic processes...... of socio-technical ‘greening’ of urban infrastructures; urban policy mobility work documents growing intercity networks around climate and sustainability; and actor–network theory-informed takes on urban controversies engage the localized politics of specific city-based ‘riskscapes’. While each framework...

  10. Managing Political Information: A Malaysian Perspective

    Directory of Open Access Journals (Sweden)

    Jamilah Ahmad

    2010-07-01

    Full Text Available In the development of democratization and the expression of civil and political rights of Malaysian citizens, the pattern of control developed by the regime that is currently in power (Barisan Nasional for the last 50 years in the mass media began to reap the resistance and tend to be ineffective. Malaysian citizens began to demand the Malaysian government to change the pattern of political information management. In addition, the mass media alone is expected to play a more significant role as an intermediary agent in supporting the process of transparency and accountability of government policy. This article shows that the openness of public information is a prerequisite for political democracy in Malaysia to help the government minimize the mis-management of governance policies, especially in finance and resource management.

  11. Politically Induced Regulatory Risk and Independent Regulatory Agencies

    OpenAIRE

    Strausz, Roland

    2015-01-01

    Uncertainty in election outcomes generates politically induced regulatory risk. Political parties' risk attitudes towards such risk depend on a fluctuation effect that hurts both parties and an output--expansion effect that benefits at least one party. Notwithstanding the parties' risk attitudes, political parties have incentives to negotiate away all regulatory risk by pre-electoral bargaining. Efficient pre-electoral bargaining outcomes fully eliminate politically induced regulatory risk. P...

  12. Consensus and conflict resolution: The politics of assessing risk

    International Nuclear Information System (INIS)

    Nelkin, D.; Pollak, M.

    1980-01-01

    Not the structure of experiments can be generalized but the conditions that will allow dissenting groups to communicate effectively with administrative agencies. This includes a careful definition of the problem that gives due weight to political concerns, the appropriate involvement of affected interests, an unbiased management of the procedures, a fair distribution of expertise, and a real margin of choice. One of the more important outcomes of recent disputes is an awareness that technologies embody not only risks but also controversial political and social choices. (DG)

  13. Socio-political implications of risk

    International Nuclear Information System (INIS)

    Hipel, K.W.; Fraser, N.W.

    1982-01-01

    A conflict analysis technique is presented which allows risk to be considered when ascertaining the politically and socially feasible solutions to a given large scale engineering project. In particular, the improved metagame analysis algorithm can be employed to model a given conflict or game which may be concerned with risk and to predict the possible compromise solutions. Risk can be entertained in the analysis since it may affect the preference structure of a specific participant for the possible feasible outcomes in the dispute. To demonstrate how the methodology works in practice, it is applied to the Garrison Diversion Unit conflict which is a serious environmental dispute involving American and Canadian interests

  14. Managing risks

    International Nuclear Information System (INIS)

    Nathwani, J.S.

    1993-01-01

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

  15. Political risk in fair market value estimates

    International Nuclear Information System (INIS)

    Gruy, H.J.; Hartsock, J.H.

    1996-01-01

    Political risk arises from unstable governments, commercial establishments and infrastructure as well as labor unrest. All these factors vary from country to country and from time to time. Banks and insurance companies quantify these risks, but they are reluctant to divulge their opinions for fear of alienating possible customers that have been assigned a high risk. An investment in a fixed property such as an oil and gas lease, concession or other mineral interest is subject to political risk. No one will deny that money to be received several years in the future has a greater value today in a country with a stable government, stable tax regime, a sound economy and reliable labor force than in a Third World country where a revolution is brewing. Even in stable countries, the risk of tax law changes, exorbitant environmental production regulations and cleanup costs may vary. How do these factors affect fair market value and how are these calculations made? An important consideration discussed in this paper is the treatment of capital investments

  16. Integrated supply chain risk management

    Directory of Open Access Journals (Sweden)

    Riaan Bredell

    2007-11-01

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

  17. THE FINANCIAL TOOLS FOR COVER POLITICAL RISKS IN PROJECT FINANCE

    Directory of Open Access Journals (Sweden)

    S. Naumenkova

    2016-10-01

    Full Text Available This article examines the risk-mitigation in public-private partnership. Today Ukraine is ranked as "CRT-5 country" and has high levels of economic and political risk. Political risk grows steadily because of financial and political instability in Ukraine. We conclude that investors continue to rank political risk as a key obstacle to long-term investing. The tools for cover many types of political risks such as war, terrorism, civil disturbance, breach of contract, export or operating license cancellation, currency inconvertibility and transfer restriction, change of laws and regulations etc. are described by authors. We focus on the advantages of World Bank Group Guarantee products. The guarantee instruments of the three WBG institutions for cover political risks under different circumstances are the most suitable for public-private partnership in Ukraine. In this article the political risk-mitigation with IBRD Partial Risk Guarantee put forward by authors for PPP projects in Ukraine.

  18. 5 CFR 734.408 - Participation in political management and political campaigning; prohibitions.

    Science.gov (United States)

    2010-01-01

    ... management or in a political campaign, except as permitted by subpart D of this part. [61 FR 35102, July 5... 5 Administrative Personnel 2 2010-01-01 2010-01-01 false Participation in political management and political campaigning; prohibitions. 734.408 Section 734.408 Administrative Personnel OFFICE OF PERSONNEL...

  19. Food, Risk and Politics: Scare, scandal and crisis - insights into the risk politics of food safety

    OpenAIRE

    Randall, Ed J.

    2009-01-01

    This book is about the risk politics of food safety. Food-related risks regularly grab the headlines in ways that threaten reasoned debate and obstruct sensible policy making. The author explains why this is the case. He goes on to make the case for a properly informed and fully open public debate about food safety issues. He argues that this is the true antidote to the politics of scare, scandal and crisis.\\ud \\ud The book skilfully weaves together the many different threads of food safety a...

  20. Safety Politics and Risk Perceptions in Malaysian Industry

    DEFF Research Database (Denmark)

    Wangel, Arne

    by the state from Burawoy, Beronius, and Adesina about production politics and social relations in the labour process provides an integrated perspective on individual risk perceptions, safety practices in enterprises, and government regulation. The empirical data were collected during the period 1989......Abstract The book deals with the analysis of work hazards and safety in industrial enterprises in Peninsular Malaysia, Southeast Asia. It traces the development of this theme of conflict within the context constituted by state, labour market and labour-management relations in Malaysia. The book...... and the activities, which are exercised by referring to such rationality, have to be carefully examined. 'Safety Politics and Risk Perceptions in Malaysian Industry' identifies analytical perspectives, which in detail are able to trace conflicts about the working environment in the industries of developing countries...

  1. Risk management

    International Nuclear Information System (INIS)

    Magne, L.

    1999-01-01

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

  2. NASA's Risk Management System

    Science.gov (United States)

    Perera, Jeevan S.

    2011-01-01

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

  3. NASA's Risk Management System

    Science.gov (United States)

    Perera, Jeevan S.

    2013-01-01

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

  4. DEFENSE PROGRAMS RISK MANAGEMENT FRAMEWORK

    Directory of Open Access Journals (Sweden)

    Constantin PREDA

    2012-01-01

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

  5. 'When you use the term 'long term', how long is that term'. Risk, Exclusion, and the Politics of Knowledge Production in Canadian Nuclear Fuel Waste Management Policy Making

    Energy Technology Data Exchange (ETDEWEB)

    Stanley, Anna [Univ. of Guelph (Canada). Dept. of Geography

    2006-09-15

    Risk operates within Canadian Nuclear Fuel Waste (NFW) management policy making as a heuristic for knowledge production about its effects which reconciles the knowledge of the nuclear industry with the outcomes of the NFW management process. In so doing it marginalizes the present and historical experiences of Aboriginal peoples with the nuclear industry, and removes from view the ways in which they have been implicated in the geography and political economy of the nuclear industry. Risk is a discursive form that protects a particular group's claims about the effects of NFW by providing it a universalizing epistemological structure with which to obscure its connection to context. Further risk discourse provides the nuclear industry with a conceptual vocabulary that deliberately casts all competing knowledge as perceptions, values, or as an object of inquiry. The arguments of Aboriginal peoples about the residual effects of radiation in their lands which hosted nuclear activities, such as uranium mining and disposal, have no representation in how the discourse of risk defines and represents knowledge, and thus no purchase in the policy debate. As a result the challenge they present to the nuclear industry's claims are contained. The arrangements which permit the unloading of the negative effects of nuclear power generation onto Aboriginal peoples are thus reproduced (both materially and conceptually), but not shown, by the policy making process and likely, its outcome. In order to raise critical questions about the democratic abilities of risk, this paper has examined the role of 'risk' in Canadian NFW policy making. I have shown how when the politics of knowledge production within the philosophy of risk is analyzed, and the use and role of the notion of risk are interrogated, difficult questions are posed for the democratic potential of risk. I have suggested, through an analysis of the NWMO's representations of Aboriginal content in their

  6. Accrual-based and real earnings management and political connections

    NARCIS (Netherlands)

    Braam, G.J.M.; Nandy, M.; Weitzel, G.U.; Lodh, S.

    2015-01-01

    This study examines whether the trade-off between real and accrual-based management strategies differs between firms with and without political connections. We argue that politically connected firms are more likely to substitute real earnings management for accrual-based earnings management than

  7. Risk management and safety

    International Nuclear Information System (INIS)

    Niehaus, F.; Novegno, A.

    1985-01-01

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

  8. Political Risk and Foreign Direct Investments in Kosovo

    Directory of Open Access Journals (Sweden)

    MSc. Neshat Podvorica

    2015-06-01

    Full Text Available The purpose of this paper is to present the importance of political risk and its impact on attracting investments, also to analyse policies made by the Kosovo institutions to reduce political risk and increase the FDIs. Attracting of the FDIs is complex because they depend on many factors, and one of the methods that measure political risk is the model used by the PRS Group that includes the flow of the economy through 12 components. Measuring political risk plays an important role in transitional countries, because these are countries that have problems in various fields and also the trust on by the investors is low. As a finding of this study is that Kosovo is estimated to have moderate political risk, and is close to joining the group of countries with low political risk. Challenges faced by Kosovo in reducing political risk are concentrated in several components, which are: socioeconomic, corruption and rule of law components. Kosovo has taken significant steps in improving the conditions for investment, government stability and positioning of the country facing internal and external conflicts.

  9. Strategic Risk Management

    OpenAIRE

    Sax, Johanna

    2015-01-01

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

  10. The Pros and Cons of Using Joint Ventures as a Tool to Mitigate Political Risks in Developing Countries

    Directory of Open Access Journals (Sweden)

    Violeta Iftinchi

    2018-03-01

    Full Text Available As part of their political risk management strategy, multinational corporations (MNCs can use joint ventures as a tool to reduce their exposure to political risks in international activities. The aim of this article is to present the main benefits for MNCs in using joint ventures with a local partner to mitigate political risks in developing countries and to put forward three risks that MNCs have to consider when choosing the local partner (the risk of opportunistic expropriation, the risk associated with transferring of intellectual property rights and reputational risk.

  11. Privatization, political risk and stock market development in emerging economies

    NARCIS (Netherlands)

    Perotti, E.C.; van Oijen, P.H.

    1999-01-01

    This paper investigates whether privatization in emerging economies has a significant indirect effect on local stock market development through the resolution of political risk. We argue that a sustained privatization program represents a major political test that gradually resolves uncertainty over

  12. Commodity risk management

    Directory of Open Access Journals (Sweden)

    Hilary Till

    2016-09-01

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

  13. Commodity risk management

    OpenAIRE

    Hilary Till

    2016-01-01

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

  14. The Intergovernmental Marine Bioenergy and Carbon Sequestration Protocol: Environmental and Political Risk Reduction of Global Carbon Management (The IMBECS Protocol Draft)

    Science.gov (United States)

    Hayes, M.

    2014-12-01

    The IMBECS Protocol concept employs large cultivation and biorefinery installations, within the five Subtropical Convergence Zones (STCZs), to support the production of commodities such as carbon negative biofuels, seafood, organic fertilizer, polymers and freshwater, as a flexible and cost effective means of Global Warming Mitigation (GWM) with the primary objective being the global scale replacement of fossil fuels (FF). This governance approach is categorically distinct from all other large scale GWM governance concepts. Yet, many of the current marine related GWM technologies are adaptable to this proposals. The IMBECS technology would be managed by an intergovernmentally sanctioned non-profit foundation which would have the following functions/mission: Synthesises relevant treaty language Performs R&D activities and purchases relevant patents Under intergovernmental commission, functions as the primary responsible international actorfor environmental standards, production quotas and operational integrity Licence technology to for-profit actors under strict production/environmental standards Enforce production and environmental standards along with production quotas Provide a high level of transparency to all stakeholders Provide legal defence The IMBECS Protocol is conceptually related to the work found in the following documents/links. This list is not exhaustive: Climate Change Geoengineering The Science and Politics of Global Climate Change: A guide to the debate IPCC Special Report on Renewable Energy and Climate Change Mitigation DoE Roadmap for Algae Biofuels PodEnergy Ocean Agronomy development leaders and progenitor of this proposal. Artificial Upwelling of Deep Seawater Using the Perpetual Salt Fountain for Cultivation of Ocean Desert NASAs' OMEGA study. Cool Planet; Land based version of a carbon negative biofuel concept. Cellana; Leading developer of algae based bioproducts. The State of World Fisheries and Aquaculture Mariculture: A global analysis

  15. Certification and risk management

    International Nuclear Information System (INIS)

    Villanueva Fernandez, M.

    2015-01-01

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

  16. [Global risk management].

    Science.gov (United States)

    Sghaier, W; Hergon, E; Desroches, A

    2015-08-01

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

  17. Ecosystem management via interacting models of political and ecological processes

    Directory of Open Access Journals (Sweden)

    Haas, T. C.

    2004-01-01

    Full Text Available The decision to implement environmental protection options is a political one. Political realities may cause a country to not heed the most persuasive scientific analysis of an ecosystem's future health. A predictive understanding of the political processes that result in ecosystem management decisions may help guide ecosystem management policymaking. To this end, this article develops a stochastic, temporal model of how political processes influence and are influenced by ecosystem processes. This model is realized in a system of interacting influence diagrams that model the decision making of a country's political bodies. These decisions interact with a model of the ecosystem enclosed by the country. As an example, a model for Cheetah (Acinonyx jubatus management in Kenya is constructed and fitted to decision and ecological data.

  18. Agile risk management

    CERN Document Server

    Moran, Alan

    2014-01-01

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

  19. Risk Management Implementation Tool

    Science.gov (United States)

    Wright, Shayla L.

    2004-01-01

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

  20. Financial Risk Management

    OpenAIRE

    Catalin-Florinel Stanescu; Laurentiu Mircea Simion

    2011-01-01

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

  1. The inherent politics of quality in public park management

    DEFF Research Database (Denmark)

    Lindholst, Andrej Christian; Konijnendijk, Cecil Cornelis; Fors, Hanna

    2012-01-01

    allocations of ‘who gets what, when and how’. We illustrate the inherent politics by providing a case study of a widely adopted quality model for operational management that has been adopted and implemented in Denmark as part of new public management reforms. In perspective, other quality concepts and models......In this paper, we highlight and illustrate the inherent politics embedded in “quality” as a concept for managing public parks. Reflecting more generic quality concepts, contemporary quality models in park management include concepts for both operational, strategic and stakeholder management as well...... managing the park organisation itself. However, quality concepts and their application through various management models include as well as exclude the access, values and worldviews of particular interests. In this way, any particular quality concept and model embeds its own politics by inherent...

  2. Value of risk management

    OpenAIRE

    Vik, Marie Amdal

    2012-01-01

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

  3. Exchange Risk Management Policy

    CERN Document Server

    2005-01-01

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

  4. Management Politics in Kenya's Sugar Industry: Towards an ...

    African Journals Online (AJOL)

    Introduction This paper has two objectives. The first objective is to discuss the management of Kenya's sugar industry and to shed insights into the politics surrounding the management of the industry. The second objective is to suggest a way forward in terms of an effective policy framework for the effective management of ...

  5. Managing for Political Corporate Social Responsibility

    DEFF Research Database (Denmark)

    Scherer, Andreas Georg; Rasche, Andreas; Palazzo, Guido

    2016-01-01

    This article takes stock of the discourse on ‘political CSR’ (PCSR), reconsiders some of its assumptions, and suggests new directions for what we call ‘PCSR 2.0’. We start with a definition of PCSR, focusing on firms’ contribution to public goods. We then discuss historical antecedents...... to the debate and outline the original economic and political context. The following section explores emerging changes in the institutional context relevant to PCSR and reconsiders some of the assumptions underlying Habermas’ thesis of the postnational constellation. This highlights some neglected issues...

  6. Identifying and Managing Risk.

    Science.gov (United States)

    Abraham, Janice M.

    1999-01-01

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

  7. Managing Operational Risk

    OpenAIRE

    Stanciu Victoria; Ali Eden; Ivancenco Veronica Constanta

    2010-01-01

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

  8. Risk management overview

    International Nuclear Information System (INIS)

    McGovern, S.

    1995-01-01

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

  9. Is political risk still an issue for Turkish stock market?

    Directory of Open Access Journals (Sweden)

    Samet Günay

    2016-03-01

    Full Text Available In this study, we analyze the effects of internal political risk on the Turkish stock market in the period of 2001–2014. Empirical analyses are conducted through various methods to obtain breaks and regimes in the return volatilities of the BIST100 index. According to the results, while the number of breaks has increased in recent years, the risk level of recent periods is significantly lower than the early regimes, and the risk level trend for all regimes show a negative slope. In conclusion, the Turkish stock market responds to political events, but according to our results, not as significantly as in the past.

  10. Environmental asset management: Risk management systems

    CSIR Research Space (South Africa)

    Naudé, Brian

    2017-07-01

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

  11. Risk Management and Simulation

    DEFF Research Database (Denmark)

    Skovmand, David

    2014-01-01

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

  12. Perspectives: Intellectual Risk Management

    Science.gov (United States)

    Hall, James C.

    2013-01-01

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

  13. Managing Mexican Oil: Politics or Economics?

    Directory of Open Access Journals (Sweden)

    Alicia Puyana Mutis

    2008-07-01

    Full Text Available During decades the policies towards oil and energy implemented in Mexico have resulted in the de pletion of reserves, the explosion of debt of Pemex (90 per cent of its capital, and the dramatic petrolization of the total fiscal revenue. High prices, the war on terror and political instability in oil rich regions have reinforced usA policy of "energy security" and the interest in the creation of the Common Market on Energy, as the way to strengthen the TLCAN. To respond to these two forces Mexico will have to reform its traditional oil policy. All possible options: to reduce the fiscal burden upon Pemex or to open to private investments the exploration of oil have excruciating political costs, which no government has shown the will to confront.

  14. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

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

  15. Agricultural risk management

    DEFF Research Database (Denmark)

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

    2005-01-01

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

  16. Managing for Political Corporate Social Responsibility

    DEFF Research Database (Denmark)

    Scherer, Andreas Georg; Rasche, Andreas; Palazzo, Guido

    2016-01-01

    This article takes stock of the discourse on ‘political CSR’ (PCSR), reconsiders some of its assumptions, and suggests new directions for what we call ‘PCSR 2.0’. We start with a definition of PCSR, focusing on firms’ contribution to public goods. We then discuss historical antecedents to the deb......This article takes stock of the discourse on ‘political CSR’ (PCSR), reconsiders some of its assumptions, and suggests new directions for what we call ‘PCSR 2.0’. We start with a definition of PCSR, focusing on firms’ contribution to public goods. We then discuss historical antecedents...... to the debate and outline the original economic and political context. The following section explores emerging changes in the institutional context relevant to PCSR and reconsiders some of the assumptions underlying Habermas’ thesis of the postnational constellation. This highlights some neglected issues...... in previous works on PCSR, including the influence of nationalism and fundamentalism, the role of various types of business organisations, the return of government regulation, the complexity of institutional contexts, the efficiency of private governance, the financialization and digitalization of the economy...

  17. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

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

  18. EFFECT OF POLITICAL RISK SHOCKS ON TOURISM REVENUE IN SOUTH AFRICA: TIME SERIES ANALYSIS

    OpenAIRE

    Muzindutsi, Paul-Francois; Manaliyo, Jean Claude

    2016-01-01

    Although political risk has an impact on all types of businesses, political risk affects tourism business performance in terms of tourist arrivals and tourism revenue because tourists are very sensitive to political risk in host countries. This study analysed the effect of political risk on revenue from the tourism industry in South Africa. The sample period of 108 months from January 2007 to December 2015 was used based on the availability of data. The political risk were measured by the cou...

  19. Individual Property Risk Management

    Directory of Open Access Journals (Sweden)

    Michael S. Finke

    2010-01-01

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

  20. Management Studies Educational Knowledge: Technical, Elite or Political?

    Science.gov (United States)

    Hordern, Jim

    2014-01-01

    This paper draws on the technical, elite and political interpretations of the purpose of management, to identify demands for particular forms of educational knowledge in the management studies curriculum. The varied character of this knowledge is discussed using Bernsteinian concepts of verticality, grammaticality, classification and framing, and…

  1. Politics of Natural Resource Management and Accountable Systems ...

    African Journals Online (AJOL)

    The political behaviour of public institutions exhibited in the management of critical natural resources influences the nature of service delivery. In particular, the character of such public organizations as regulators of natural resources, like water, impacts not only on what such management bodies do and their functionality, ...

  2. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

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

  3. Radiation risks and benefits: politics and morality

    International Nuclear Information System (INIS)

    Maxey, M.N.

    1983-01-01

    The bioethical framework from which moral reasoning concerning nuclear technology has been derived is both seriously flawed and conceptually inadequate. The reasons are examined and are arranged in response to three questions. First, what is the status of alleged scientific evidence from which moral conclusions about the unacceptability of man-made radiation exposures are derived. Secondly, what criticisms of risk assessment reasoning are pertinent to ethical reflection. Finally, what revisions in an ethical framework are necessary if risk estimates of low-dose radiation exposure are to be conducted properly

  4. Dutch Courage : The Politics of Acceptable Risks

    NARCIS (Netherlands)

    Jan van der Meulen; prof. dr. J.M.L.M. Soeters

    2005-01-01

    In this article we analyze the ways in which the risks of military missions and the prospects for casualties have made an impact on the deployment of soldiers by the Netherlands. The question is whether the self-image of being a military nation acts as a hindrance to participation when the going

  5. POLITICAL WILL AND ANTICORRUPTION CRUSADE MANAGEMENT IN NIGERIA

    Directory of Open Access Journals (Sweden)

    John N. N. Ugoani

    2016-03-01

    absolute figures capable of easy understanding and further analysis. It was found that political will is essential in anticorruption crusade management in Nigeria, and has the reciprocal dimension of providing the incentives for good governance of any nation.

  6. Hybrid Risk Management Methodology: A Case Study

    Directory of Open Access Journals (Sweden)

    Jacky Siu-Lun Ting

    2009-10-01

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

  7. Risk Management Plan Rule

    Science.gov (United States)

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

  8. Betwixt Droughts and Floods: Flood Management Politics in Thailand

    Directory of Open Access Journals (Sweden)

    Naila Maier-Knapp

    2015-01-01

    Full Text Available Attempting to create greater understanding of the political dynamics that influence domestic disaster relief and management (DRM in Thailand, this article takes a closer look at these dynamics by outlining the main actors involved in flood-related DRM. It acknowledges the importance of international and military actors but emphasises the role of national and subnational authorities. The article then identifies the central issues of DRM governance as capacity and bureaucracy and discusses these through a chronological assessment of the flood crisis in Thailand in 2011, interweaving the colourful domestic politics with various political cleavages and dichotomies, and thereby distinguishing between three main dichotomies which it considers as the central drivers of the political dynamics and institutional development of DRM. These issues can be summarised as old versus new institutions, technocracy versus bureaucracy and centralised (but with direct people-orientation through greater channels of citizenry participation versus decentralised bureaucracy with an indirect orientation towards people.

  9. Programmatic risk management system

    Energy Technology Data Exchange (ETDEWEB)

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

    1996-07-01

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

  10. Groundwater Risk Management Handbook

    Science.gov (United States)

    2008-01-01

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

  11. Risk management versus incentives

    International Nuclear Information System (INIS)

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

    2006-01-01

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

  12. Governmental management of chemical risk

    International Nuclear Information System (INIS)

    Zimmerman, R.

    1990-01-01

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

  13. The politics of policy : participatory irrigation management in Andhra Pradesh

    NARCIS (Netherlands)

    Nikku, B.R.

    2006-01-01

    This thesis studies the emergence, process and politics of the Andhra Pradesh reform policy of Participatory Irrigation Management (PIM). The reform has been labeled as the 'A? model' of irrigation reforms and supported by external aid agencies like World Bank. Within a short span of time Andhra

  14. Managing power risk

    International Nuclear Information System (INIS)

    Rudd, D.C.

    1999-01-01

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

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

    African Journals Online (AJOL)

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

  16. The Political Aspects of Municipal Management

    Directory of Open Access Journals (Sweden)

    Юрий Анатольевич Зубарев

    2014-12-01

    Full Text Available This article provides an overview of the Municipal management in the public administration of a democratic state is the basis of democracy. At the present stage, it is necessary to consider the optimization of interaction of state power and local authorities of local government. This interaction should be effective use of material and financial resources at all levels of the financial system of the state to meet the needs of the local population with his active participation and direct control over the activities of the authorities.

  17. Politics of School-Based Management

    Directory of Open Access Journals (Sweden)

    Elaine M. Walker

    2002-08-01

    Full Text Available Since the late 1970s the problem of urban education has been cast as partially a problem of governance and authority structures. This focus mirrors a larger preoccupation by educational reformers with democratizing the decision-making process in public schools, a preoccupation that is evident not only in this country but also many nations throughout the world. Borrowing from the private sector, the underlying assumption behind decentralization is that educational improvement is only possible if those closest to the point at which decision are enacted become the architects of these decisions. Thus, school-based management or participatory decision-making is viewed as a means to formally incorporate the voices of parents, teachers and the community in the management of their schools. This paper discusses the findings of a recently conducted study on school-based management in thirty of New Jersey's poorest districts (referred to as the Abbott Districts. These districts have begun a process of complex reform after the State's Supreme Court ruled that the state had failed to constitutionally provide a thorough and efficient education for its poorest students by the absence of parity funding. Populated by primarily black and Hispanic students, and representing most of the larger urban communities in the state, students in these districts exhibit performance levels significantly below that of the state average. The results of the study indicate that (1 genuine autonomy has been usurped by an intensification in state power and authority, (ii state elites have provided little opportunity for districts and SBM teams to build capacity; (iii the level of democratization or opening-up of decision making to local community members has been minimal as the teams become teacher dominated; and (iv in the absence of clear guidelines from the State, conflict over the appropriate role of SBM members, principals, central office staff and local school boards has

  18. Interpersonal politics: the role of terror management and attachment processes in shaping political preferences.

    Science.gov (United States)

    Weise, David R; Pyszczynski, Tom; Cox, Cathy R; Arndt, Jamie; Greenberg, Jeff; Solomon, Sheldon; Kosloff, Spee

    2008-05-01

    Research on terror management theory (TMT) indicates that reminders of death affect political attitudes, but political orientation only sometimes moderates these effects. We propose that secure relationships are associated with values of tolerance and compassion, thus orienting people toward liberalism; insecure attachments are associated with more rigid and absolutist values that orient people toward conservatism. Given that attachment relationships become especially active when security needs are heightened, we predicted that mortality salience would be an important factor in understanding the relationship between attachment processes and political orientation. Supporting these ideas, Study 1 showed that after a mortality-salience manipulation, securely attached participants increased their support for a liberal presidential candidate, and less securely attached participants increased their support for a conservative presidential candidate. In Study 2, a secure-relationship prime following a mortality-salience manipulation engendered a less violent approach to the problem of terrorism than did a neutral-relationship prime. We discuss the interaction of TMT processes and individual differences in attachment in shaping political preferences.

  19. The Political Risk of Oil and Gas Mega Projects: A Descriptive Empirical Analysis

    OpenAIRE

    Veflen, Martin Elton

    2011-01-01

    Two elements can be seen to evolve progressively with globalization: political risk and mega projects. Although a fair amount of research has been carried out in regards to political risk and mega projects as separate units of investigation, few studies have attempted to combine the two. This thesis fills a void in the existing literature by providing a specialized approach to political risk, focusing on political risk of oil and gas mega projects in particular. Drawing on a comprehensive dat...

  20. Managing risk at Hanford

    International Nuclear Information System (INIS)

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

    1994-01-01

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

  1. Investigation of risk management auditing

    International Nuclear Information System (INIS)

    Cao Lu

    2012-01-01

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

  2. Children's Aquatics: Managing the Risk.

    Science.gov (United States)

    Langendorfer, Stephen; And Others

    1989-01-01

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

  3. The Management Object in Risk Management Approaches

    DEFF Research Database (Denmark)

    Christiansen, Ulrik

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

  4. Risk management in customs control

    OpenAIRE

    Drobot, Elena; Klevleeva, Aziza

    2016-01-01

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

  5. "Risk management" is a verb.

    Science.gov (United States)

    Sheppard, Faye

    2018-01-01

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

  6. Management Under Anarchy. The International Politics of Climate Change

    Energy Technology Data Exchange (ETDEWEB)

    Thompson, A. [Department of Political Science, Ohio State University, 2140 Derby Hall, 154 North Oval Mall, Columbus, OH 43210 (United States)

    2006-09-15

    This article analyzes climate change from the perspective of international politics. In the anarchy of the international system, various cooperation problems have stalled the formation of an effective climate regime at the international level. Obstacles occur at three stages of regime formation: the bargaining stage, the transition stage, and the implementation stage. The importance of the transition stage of cooperation, which takes place between the signing of an agreement and its entry into force, has been overlooked by international relations scholars and is particularly important in the climate case. The article assesses the possibility of applying 'adaptive management' principles to climate change as a partial response to these political obstacles. While such an approach has significant appeal given the uncertainty surrounding the human-climate interface, its experimental, top-down characteristics are not politically feasible at the international level. I recommend certain modifications of existing institutions and practices to improve international information sharing and facilitate efficient learning. These changes would serve to promote a decentralized and passive - and thus politically viable - version of adaptive management, an effective approach to dealing with climate change at the global level.

  7. Management Under Anarchy. The International Politics of Climate Change

    International Nuclear Information System (INIS)

    Thompson, A.

    2006-01-01

    This article analyzes climate change from the perspective of international politics. In the anarchy of the international system, various cooperation problems have stalled the formation of an effective climate regime at the international level. Obstacles occur at three stages of regime formation: the bargaining stage, the transition stage, and the implementation stage. The importance of the transition stage of cooperation, which takes place between the signing of an agreement and its entry into force, has been overlooked by international relations scholars and is particularly important in the climate case. The article assesses the possibility of applying 'adaptive management' principles to climate change as a partial response to these political obstacles. While such an approach has significant appeal given the uncertainty surrounding the human-climate interface, its experimental, top-down characteristics are not politically feasible at the international level. I recommend certain modifications of existing institutions and practices to improve international information sharing and facilitate efficient learning. These changes would serve to promote a decentralized and passive - and thus politically viable - version of adaptive management, an effective approach to dealing with climate change at the global level

  8. Economics and management of climate change: risks, mitigation and adaptation

    National Research Council Canada - National Science Library

    Antes, Ralf

    2008-01-01

    ... climate change poses risks to societies and companies, nor about adequate strategies to cope with these risks. Bringing together scholars from environmental economics, political science, and business management, this book describes, analyses and evaluates climate change risks and responses of societies and companies. The book c...

  9. Nuclear risk management

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-07-01

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

  10. Nuclear risk management

    International Nuclear Information System (INIS)

    2001-01-01

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

  11. Credit risk management in banks

    OpenAIRE

    Pětníková, Tereza

    2014-01-01

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

  12. Managing Complex Environmental Risks

    International Nuclear Information System (INIS)

    Karlsson, Mikael

    2006-01-01

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

  13. The Management Object in Risk Management Approaches

    DEFF Research Database (Denmark)

    Christiansen, Ulrik

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

  14. Nontechnical issues in waste management: ethical, institutional, and political concerns

    Energy Technology Data Exchange (ETDEWEB)

    Hebert, J.A.; Rankin, W.L.; Brown, P.G.; Schuller, C.R; Smith, R.F.; Goodnight, J.A.; Lippek, H.E.

    1978-05-01

    The report consists of a presentation and distillation of major nontechnical issues surrounding commercial waste management, followed by ethical, institutional, and political analyses of these issues. The ethical analysis consists of a discusson of what is meant by ''ethics'' and ''morality'' in the waste management context and an illustrative attempt at an ethical analysis of the commercial nuclear waste problem. Two institutional analyses are presented: one is an analysis of the possible problems of long-term human institutions in waste management; the other is a presentation of institutional arrangements for the short term. A final chapter discusses issues and concerns involving intergovernmental relations--that is, local, state, and federal interface problems in waste management.

  15. Nontechnical issues in waste management: ethical, institutional, and political concerns

    International Nuclear Information System (INIS)

    Hebert, J.A.; Rankin, W.L.; Brown, P.G.; Schuller, C.R; Smith, R.F.; Goodnight, J.A.; Lippek, H.E.

    1978-05-01

    The report consists of a presentation and distillation of major nontechnical issues surrounding commercial waste management, followed by ethical, institutional, and political analyses of these issues. The ethical analysis consists of a discusson of what is meant by ''ethics'' and ''morality'' in the waste management context and an illustrative attempt at an ethical analysis of the commercial nuclear waste problem. Two institutional analyses are presented: one is an analysis of the possible problems of long-term human institutions in waste management; the other is a presentation of institutional arrangements for the short term. A final chapter discusses issues and concerns involving intergovernmental relations--that is, local, state, and federal interface problems in waste management

  16. Effective risk management SOGO life cycle management

    OpenAIRE

    Ali, Mohamed Omar

    2012-01-01

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

  17. Great Power Management and China's Responsibility in International Climate Politics

    Directory of Open Access Journals (Sweden)

    Sanna Kopra

    2016-12-01

    Full Text Available By exploring international practice of great power management, this paper examines how the U.S. (an established power and China (an emerging power discursively frame great power responsibility in the context of international negotiations on climate politics. Firstly, this paper will argue that the American discourse on "responsible great powerhood" attempts to redirect and constrain China’s position in global politics. Secondly, this paper claims that China defends its interests and responds to Western demands by advancing two, partly conflicting, climate discourses simultaneously. On the one hand, despite its growing international status, China emphasizes its status as a poor developing country. On the other, the rhetoric of being a "responsible major power" is used to assure other nations of China's credibility and benevolence; China is neither a threat to other countries nor to the environment.

  18. Stakeholder Risk Management in Ethical Decision Making

    DEFF Research Database (Denmark)

    Lauesen, Linne Marie

    Stakeholder management has for the last three decades been concerned either with strategic business management or business ethics, values and quality. Many models have been developed, but recently the literature asks for more dynamic models instead of the staticism that characterizes some models....... management models does – for the sake of the wider social responsibilities of the businesses and its stakeholders.......Stakeholder management has for the last three decades been concerned either with strategic business management or business ethics, values and quality. Many models have been developed, but recently the literature asks for more dynamic models instead of the staticism that characterizes some models...... evidence from hybrid organizations as Publicly Owned Enterprises (POEs) mixed of private corporations and political administration. The model offers a new way of combining risk management with ethical decisionmaking processes by the inclusion of multiple stakeholders. Not only does the model apply...

  19. CEA - 2014 risk management assessment

    International Nuclear Information System (INIS)

    Bonnevie, Edwige; Verwaerde, Daniel; Maillot, Bernard

    2015-06-01

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

  20. CEA: risk management assessment 2011

    International Nuclear Information System (INIS)

    Bigot, Bernard; Bonnevie, Edwige; Maillot, Bernard

    2012-01-01

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

  1. Risk Management in Cocurricular Activities.

    Science.gov (United States)

    Webb, Edward M.

    1988-01-01

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

  2. Managing Corruption Risks

    DEFF Research Database (Denmark)

    Krause Hansen, Hans

    2011-01-01

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

  3. Knowledge management: an innovative risk management strategy.

    Science.gov (United States)

    Zipperer, Lorri; Amori, Geri

    2011-01-01

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

  4. Managing Climate Change Risks

    Energy Technology Data Exchange (ETDEWEB)

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

    2003-07-01

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

  5. Politeness

    Directory of Open Access Journals (Sweden)

    Henri Bergson

    2016-12-01

    Full Text Available This is the English translation of a speech Bergson made at Lycée Henri-IV on July 30, 1892. This is an interesting text because it anticipates Bergson’s last book, his The Two Sources of Morality and Religion. Like the distinction in The Two Sources between the open and the closed, “Politeness” defines its subject matter in two ways. There is what Bergson calls “manners” and there is true politeness. For Bergson, both kinds of politeness concern equality. Manners or material politeness amount to the ritualized greetings and formalities by means of which we usually define politeness. Unfortunately and like The Two Sources, Bergson attributes this formalized relation to other human beings with primitive and “inferior races.” Nevertheless, Bergson sees in these formalities an attempt, in the name of equality, to ignore other people’s talents and merits so that one can dominate morally superior people. In contrast, true politeness or “spiritual politeness” consists in “intellectual flexibility.” When one meets a person of superior morality, one is flexible in one’s relation to him or her; one abandons the formalities in order to really live her life and think her thoughts. Here we find equality too: “what defines this very polite person is to prefer each of his friends over the others, and to succeed in this way in loving them equally.” After making a comparison to dance, Bergson defines spiritual politeness as “a grace of the mind.” Since both kinds of politeness concern equality, Bergson associates both with justice. However, beyond these two kinds of politeness and justice there is “politeness of the heart,” which concerns charity. In order to indicate politeness of the heart, Bergson describes the kind of person, a sensitive person, who anxiously awaits a word of praise in order to feel good about herself but who also, when she hears a word of reproach, is thrown into sadness. Although Bergson calls the

  6. Communicating Risk to Program Managers

    Science.gov (United States)

    Shivers, C. Herbert

    2005-01-01

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

  7. The Politics of Reflexive Governance: Challenges for Designing Adaptive Management and Transition Management

    Directory of Open Access Journals (Sweden)

    Jan-Peter Voß

    2011-06-01

    Full Text Available New concepts of governance take account of ambivalence, uncertainty, and distributed power in societal change. They aim for reflexivity regarding the limits of prognostic knowledge and actual control of complex processes of change. Adaptive management and transition management are two examples that evolved from the analysis of social-ecological and sociotechnical systems, respectively. Both feature strategies of collective experimentation and learning. In this paper, we ask how these two designs of reflexive governance consider politics. Based on a framework of different dimensions and levels of politics, we show that they are mainly concerned with problem solving by a focal process, but conflict and asymmetric power relations, as well as the embedding of processes within broader political contexts, are neglected. We suggest two routes for integrating politics into the design of reflexive governance: (1 recognize the politics of learning for sustainable development and develop safeguards against domination and capture by powerful actors, and (2 systematically consider the embedding of governance designs in political contexts and their ongoing dynamics for political fit.

  8. Hurricane risk management and climate information gatekeeping in southeast Florida

    Science.gov (United States)

    Treuer, G.; Bolson, J.

    2013-12-01

    Tropical storms provide fresh water necessary for healthy economies and health ecosystems. Hurricanes, massive tropical storms, threaten catastrophic flooding and wind damage. Sea level rise exacerbates flooding risks from rain and storm surge for coastal communities. Climate change adaptation measures to manage this risk must be implemented locally, but actions at other levels of government and by neighboring communities impact the options available to local municipalities. When working on adaptation local decision makers must balance multiple types of risk: physical or scientifically described risks, legal risks, and political risks. Generating usable or actionable climate science is a goal of the academic climate community. To do this we need to expand our analysis to include types of risk that constrain the use of objective science. Integrating physical, legal, and political risks is difficult. Each requires specific expertise and uses unique language. An opportunity exists to study how local decision makers manage all three on a daily basis and how their risk management impacts climate resilience for communities and ecosystems. South Florida's particular vulnerabilities make it an excellent case study. Besides physical vulnerabilities (low elevation, intense coastal development, frequent hurricanes, compromised ecosystems) it also has unique legal and political challenges. Federal and state property rights protections create legal risks for government action that restricts land use to promote climate adaptation. Also, a lack of cases that deal with climate change creates uncertainty about the nature of these legal risks. Politically Florida is divided ideologically and geographically. The regions in the southeast which are most vulnerable are predominantly Hispanic and under-represented at the state level, where leadership on climate change is functionally nonexistent. It is conventional wisdom amongst water managers in Florida that little climate adaptation

  9. Risk management in anesthesia.

    Science.gov (United States)

    Cabrini, L; Levati, A

    2009-11-01

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

  10. Political pragmatism and principles in times of crisis : the role of pragmatist political crisis management during the U.S. financial crisis

    NARCIS (Netherlands)

    Bartenberger, M.

    2017-01-01

    Based on philosophical pragmatism, this study builds a model of pragmatist crisis management at the political-strategic level and contrasts it with a principle-guided approach towards political crisis management. It identifies four cornerstons of pragmatist political crisis management and builds a

  11. Credit derivatives and risk management

    OpenAIRE

    Michael S. Gibson

    2007-01-01

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

  12. Managing information technology security risk

    Science.gov (United States)

    Gilliam, David

    2003-01-01

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

  13. Stakeholder Risk Management in Ethical Decision Making

    DEFF Research Database (Denmark)

    Lauesen, Linne Marie

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

  14. RISK MANAGEMENT FROM THE INFORMATION SECURITY PERSPECTIVE

    Directory of Open Access Journals (Sweden)

    Riza Ionuț

    2017-11-01

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

  15. Risk management in construction company

    OpenAIRE

    Nučič, Jernej

    2011-01-01

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

  16. Framework for systematic risk management

    International Nuclear Information System (INIS)

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

    1991-01-01

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

  17. Variance risk premia in CO2 markets: A political perspective

    International Nuclear Information System (INIS)

    Reckling, Dennis

    2016-01-01

    The European Commission discusses the change of free allocation plans to guarantee a stable market equilibrium. Selling over-allocated contracts effectively depreciates prices and negates the effect intended by the regulator to establish a stable price mechanism for CO 2 assets. Our paper investigates mispricing and allocation issues by quantitatively analyzing variance risk premia of CO 2 markets over the course of changing regimes (Phase I-III) for three different assets (European Union Allowances, Certified Emissions Reductions and European Reduction Units). The research paper gives recommendations to regulatory bodies in order to most effectively cap the overall carbon dioxide emissions. The analysis of an enriched dataset, comprising not only of additional CO 2 assets, but also containing data from the European Energy Exchange, shows that variance risk premia are equal to a sample average of 0.69 for European Union Allowances (EUA), 0.17 for Certified Emissions Reductions (CER) and 0.81 for European Reduction Units (ERU). We identify the existence of a common risk factor across different assets that justifies the presence of risk premia. Various policy implications with regards to gaining investors’ confidence in the market are being reviewed. Consequently, we recommend the implementation of a price collar approach to support stable prices for emission allowances. - Highlights: •Enriched dataset covering all three political phases of the CO 2 markets. •Clear policy implications for regulators to most effectively cap the overall CO 2 emissions pool. •Applying a cross-asset benchmark index for variance beta estimation. •CER contracts have been analyzed with respect to variance risk premia for the first time. •Increased forecasting accuracy for CO 2 asset returns by using variance risk premia.

  18. Risk assessment and risk management in managed aquifer recharge

    CSIR Research Space (South Africa)

    Page, D

    2012-06-01

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

  19. Understanding and managing risk attitude

    National Research Council Canada - National Science Library

    Hillson, David; Murray-Webster, Ruth

    2007-01-01

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

  20. Risk perception as a driver for risk management policies

    Science.gov (United States)

    Carmona, María; Mañez, María

    2016-04-01

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

  1. Basic elements of a risk management program

    International Nuclear Information System (INIS)

    Ericson, D.M. Jr.; Varnado, G.B.

    1991-01-01

    The modern industrial manger faces the challenge of safely and efficiently operating increasingly complex, sophisticated, and expensive plants in an atmosphere of reduced resources and increased competition, and frequently with heightened political and public oversight. These political and public concerns have become especially significant where the Federal Government regulates and/or funds programs that have a significant potential for adverse public safety or environmental impacts. Under these circumstances, a major accident or environmental insult could translate into major programmatic delay, redirection, or even plant closing. After-the-fact (reactive) resolution of safety and/or environment problems is both costly and time-consuming process. Therefore, it is prudent for managers at all levels to initiate aggressive proactive efforts to identify and control the risks (hazards) associated with their programs. Unfortunately, risk is not a concept with a single, universally accepted definition. It is most often represented as the product of the probability of occurrence of undesired events and the resultant consequences of those events. The consequences of concern may include: loss of human health, reduction in life expectancy, or loss of life; material or financial losses; environmental damage; or even societal disturbances. This paper discusses risk management and systems safety interest in which has intensified over the post decade principally because of public perceptions of the risks associated with nuclear power and the disposal of hazardous chemical wastes

  2. IMPLEMENTING A RISK MANAGEMENT STANDARD

    Directory of Open Access Journals (Sweden)

    Constantin PREDA

    2013-01-01

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

  3. Innovations in Quantitative Risk Management

    CERN Document Server

    Scherer, Matthias; Zagst, Rudi

    2015-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Szabo Alina

    2012-12-01

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

  5. RISK MANAGEMENT IN CUSTOMS CONTROL

    Directory of Open Access Journals (Sweden)

    Elena Valerievna Drobot

    2017-06-01

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

  6. Risk management and corporate value

    Directory of Open Access Journals (Sweden)

    Milan Cupic

    2015-12-01

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

  7. Risk Management in Logystics Chains

    OpenAIRE

    Butrin, Andrey; Vikulov, Vladimir

    2013-01-01

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

  8. Improving Information Security Risk Management

    Science.gov (United States)

    Singh, Anand

    2009-01-01

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

  9. Challenges to sustainable risk management

    Energy Technology Data Exchange (ETDEWEB)

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

    2004-08-09

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

  10. Managing the risks of risk management on large fires

    Science.gov (United States)

    Donald G. MacGregor; Armando. González-Cabán

    2013-01-01

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

  11. The Uncertainties of Risk Management

    DEFF Research Database (Denmark)

    Vinnari, Eija; Skærbæk, Peter

    2014-01-01

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

  12. Planning analysis and political steering with New Public Management

    DEFF Research Database (Denmark)

    Sager, Tore Øivin; Sørensen, Claus Hedegaard

    2011-01-01

    of interviews sheds light on the apparent paradox that parliamentarians accept delegation of highway investment decisions despite their profound scepticism to the cost-benefit analyses and impact calculations that are essential to management by objectives and results, which was to give them continued political......Interviews with members of the Norwegian national assembly’s Standing Committee for Transport and Communications were conducted in 1995, 1997, 2001, and 2004. The politicians were asked about the usefulness of analytic input that planners contribute to national plans, first the Norwegian Road...... and Road Traffic Plan and later the National Transport Plan. Questions related to steering, coordination, delegation, and the inclusiveness of the planning process were also posed. Changes in the politicians’ attitudes to types of analytic planning input are outlined. Furthermore, the last round...

  13. Trust, Emotion, Sex, Politics, and Science: Surveying the Risk-Assessment Battlefield

    International Nuclear Information System (INIS)

    Slovic, Paul

    2001-01-01

    Risk management has become increasingly politicized and contentious. Polarized views, controversy, and conflict have become pervasive. Research has begun to provide a new perspective on this problem by demonstrating the complexity of the concept 'risk' and the inadequacies of the traditional view of risk assessment as a purely scientific enterprise. This paper argues that danger is real, but risk is socially constructed. Risk assessment is inherently subjective and represents a blending of science and judgment with important psychological, social, cultural, and political factors. In addition, our social and democratic institutions, remarkable as they are in many respects, breed distrust in the risk arena. Whoever controls the definition of risk controls the rational solution to the problem at hand. If risk is defined one way, then one option will rise to the top as the most cost-effective or the safest or the best. If it is defined another way, perhaps incorporating qualitative characteristics and other contextual factors, one will likely get a different ordering of action solutions. Defining risk is thus an exercise in power. Scientific literacy and public education are important, but they are not central to risk controversies. The public is not irrational. Their judgments about risk are influenced by emotion and affect in a way that is both simple and sophisticated. The same holds true for scientists. Public views are also influenced by world views, ideologies, and values; so are scientists' views, particularly when they are working at the limits of their expertise. The limitations of risk science, the importance and difficulty of maintaining trust, and the complex, sociopolitical nature of risk point to the need for a new approach-one that focuses upon introducing more public participation into both risk assessment and risk decision making in order to make the decision process more democratic, improve the relevance and quality of technical analysis, and increase

  14. Trust, Emotion, Sex, Politics, and Science: Surveying the Risk-Assessment Battlefield

    Energy Technology Data Exchange (ETDEWEB)

    Slovic, Paul [Decision Research, Eugene, OR (United States)

    2001-07-01

    Risk management has become increasingly politicized and contentious. Polarized views, controversy, and conflict have become pervasive. Research has begun to provide a new perspective on this problem by demonstrating the complexity of the concept 'risk' and the inadequacies of the traditional view of risk assessment as a purely scientific enterprise. This paper argues that danger is real, but risk is socially constructed. Risk assessment is inherently subjective and represents a blending of science and judgment with important psychological, social, cultural, and political factors. In addition, our social and democratic institutions, remarkable as they are in many respects, breed distrust in the risk arena. Whoever controls the definition of risk controls the rational solution to the problem at hand. If risk is defined one way, then one option will rise to the top as the most cost-effective or the safest or the best. If it is defined another way, perhaps incorporating qualitative characteristics and other contextual factors, one will likely get a different ordering of action solutions. Defining risk is thus an exercise in power. Scientific literacy and public education are important, but they are not central to risk controversies. The public is not irrational. Their judgments about risk are influenced by emotion and affect in a way that is both simple and sophisticated. The same holds true for scientists. Public views are also influenced by world views, ideologies, and values; so are scientists' views, particularly when they are working at the limits of their expertise. The limitations of risk science, the importance and difficulty of maintaining trust, and the complex, sociopolitical nature of risk point to the need for a new approach-one that focuses upon introducing more public participation into both risk assessment and risk decision making in order to make the decision process more democratic, improve the relevance and quality of technical

  15. Making sense of climate change risks and responses at the community level: A cultural-political lens

    Directory of Open Access Journals (Sweden)

    Ainka A. Granderson

    2014-01-01

    Full Text Available How to better assess, communicate and respond to risks from climate change at the community level have emerged as key questions within climate risk management. Recent research to address these questions centres largely on psychological factors, exploring how cognition and emotion lead to biases in risk assessment. Yet, making sense of climate change and its responses at the community level demands attention to the cultural and political processes that shape how risk is conceived, prioritized and managed. I review the emergent literature on risk perceptions and responses to climate change using a cultural-political lens. This lens highlights how knowledge, meaning and power are produced and negotiated across multiple stakeholders at the community level. It draws attention to the different ways of constructing climate change risks and suggests an array of responses at the community level. It further illustrates how different constructions of risk intersect with agency and power to shape the capacity for response and collective action. What matters are whose constructions of risk, and whose responses, count in decision-making. I argue for greater engagement with the interpretive social sciences in research, practice and policy. The interpretive social sciences offer theories and tools for capturing and problematising the ways of knowing, sense-making and mobilising around risks from climate change. I also highlight the importance of participatory approaches in incorporating the multiplicity of interests at the community level into climate risk management in fair, transparent and culturally appropriate ways.

  16. Book Review: Louise Amoore, The Politics of Possibility: Risk and Security Beyond Probability

    DEFF Research Database (Denmark)

    Grasten, Maj

    2016-01-01

    “The Politics of Possibility: Risk and Security beyond Probability” by Louise Amoore. Durham, NC; London: Duke University Press, 2013. 220 pp., £15.99, ISBN 9780822355601......“The Politics of Possibility: Risk and Security beyond Probability” by Louise Amoore. Durham, NC; London: Duke University Press, 2013. 220 pp., £15.99, ISBN 9780822355601...

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

    Energy Technology Data Exchange (ETDEWEB)

    John Collins

    2009-09-01

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

  18. Corporate risk management : an overview

    NARCIS (Netherlands)

    Oosterhof, Casper M.

    2001-01-01

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

  19. TOWARDS SUSTAINABLE DEVELOPMENT THROUGH SOCIAL RISK MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Anghel Irina

    2010-12-01

    Full Text Available Current incontestable realities such as climate change, deepening and widening globalization, demographic ageing, socio-cultural transformations, limited progress in tightening inequalities of income and welfare at the local as well as global scale, become springs of some of the most severe threats and challenges to the goal and process of sustainable development. They prove to be sources of new and old risks (environmental, economic, socio-political or life-cycle for developing and developed societies alike. Natural or manmade, the risks, and harsh realities, that many people have to face may narrow down the present, as well as future generations’ capacity and opportunity for sound development. The literature of the last two decades has increasingly acknowledged the tight interrelationships and inter-dependence between environmental sustainability, economic growth and societal wellbeing and development, which asks for an integrated and systemic approach to the policies governing sustainable development and its dimensions. The present paper advocates that, given the multiplication and higher imminence of social risks, the need for systemic intersectoral political approach and the imperative for moving beyond the curative role for social policy towards designing preventive, ex-ante social strategies, social risk management as concept, principle and means becomes instrumental to the progress towards sustainable development.

  20. TRManager – Technical Risk Manager

    Directory of Open Access Journals (Sweden)

    Mark A. Gregory

    2009-06-01

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

  1. Business risk management

    International Nuclear Information System (INIS)

    Cosby, C.

    2015-01-01

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

  2. Smart Grid Risk Management

    Science.gov (United States)

    Abad Lopez, Carlos Adrian

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

  3. "Mind the Gap": Researchers Ignore Politics at Their Own Risk.

    Science.gov (United States)

    Feder, Judith

    2016-02-01

    No matter how distasteful researchers find policy politics, effective policy requires that they engage. Drawing on her career bridging the research/politics gap in health care policy, the author makes a case for why and how researchers can do just that. Copyright © 2016 by Duke University Press.

  4. INTERNAL AUDIT AND RISK MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Elena RUSE

    2014-04-01

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

  5. Managing Risk in Systems Development.

    Science.gov (United States)

    DePaoli, Marilyn M.; And Others

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

  6. Tourism Taxation, Politics and Territorialisation in Tanzania's Wildlife Management

    Directory of Open Access Journals (Sweden)

    Emmanuel Sulle

    2017-01-01

    Full Text Available Tourism activities occurring on communal lands such as Wildlife Management Areas (WMAs are increasing in Tanzania. This is the result of natural resources governance reforms aimed to empower communities to manage and benefit directly from resources found in their jurisdictions. This article explores the impacts of taxes imposed on tourism activities occurring on communal lands and the emerging politics of resource and revenue sharing among WMA member villages. In the process, we use empirical data gathered from two WMAs in northern Tanzania between 2006 and 2016. We find that while the current high tax rates on tourism businesses occurring at the grassroots level reduce revenue earned by communities, the main challenge facing the studied WMAs is the model of revenue sharing among WMA member villages. Currently, as the result of WMA regulations, villages which had prior arrangement with tour operators in their land have suffered revenue losses as they have to share revenue equally with other members of the WMA. We argue that the current tax regime coupled with the contested cost and benefit sharing model not only lower returns to grassroots communities--which in turn discourage their much needed participation in conservation-tourism initiatives--but also generate new forms of struggles over resource control.

  7. The necessity for comparative risk analyses as seen from the political point of view

    International Nuclear Information System (INIS)

    Steger, U.

    1981-01-01

    The author describes the current insufficient utilization of risk analyses in the political decision process and investigates if other technologies encounter the same difficulties of acceptance as in the nuclear energy field. This being likely he is trying to find out which contribution comparative risk analyses could make to the process of democratic will-formation so that new technologies are accepted. Firstly the author establishes theses criticizing the recent scientific efforts made in the field of risk analyses and their usability for the political decision process. He then defines the criteria risk analyses have to meet in order to serve as scientific elements for consultative political discussions. (orig./HP) [de

  8. Enterprise risk management and disclosure

    Directory of Open Access Journals (Sweden)

    Nicoleta Farcane

    2008-01-01

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

  9. RISKS IN INVESTMENT AND MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Ms. Tatiana A. Ykovleva

    2016-12-01

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

  10. RISK MANAGEMENT IN BUSINESS

    OpenAIRE

    Corina Ducu; Mihaela Mãrãcine

    2011-01-01

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

  11. METHODOLOGICAL ISSUES OF BANKING OPERATIONAL RISK MANAGEMENT

    Directory of Open Access Journals (Sweden)

    David I. Philippov

    2015-01-01

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

  12. International financial linkages of Latin American banks: the effects of political risk and deposit dollarisation

    OpenAIRE

    Ramon-Ballester, Francisco; Wezel, Torsten

    2007-01-01

    This paper empirically investigates the extent to which the financial linkages of Latin American banks with the exterior are influenced by political risk and deposit dollarisation. We find that the sum of banks’ foreign assets and liabilities is a function of risk-return considerations and excess domestic credit demand. An increase in political risk is shown to be associated with a build-up of foreign positions by the banking sector, but this adverse effect on the banking system is mitigated ...

  13. Risk Management Issues - An Aerospace Perspective

    Science.gov (United States)

    Perera, Jeevan S.

    2011-01-01

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

  14. Theory and methodology of social, political and economic processes risks determining in different countries of the world

    Directory of Open Access Journals (Sweden)

    Yashina Nadezhda, I.

    2015-06-01

    Full Text Available The study deals with the problems of the theory and methodology of social, political and economic processes risks in different countries with relative indicators of the socio-economic development level, as well as the size and condition of the public debt. Developed by the authors the methodology of determining the risks of social, political and economic processes of public policy around the world revealed close relationship between socio-economic situation of the countries and their public debt. Within the framework of this methodology two groups of factors characterizing the socio-political and economic processes in the country are being developed. After that each exponent and indicator are being processed, using expert procedures. Maximum statutory values for tentatively referenced countries with effective and ineffective government policies are identified. Then standardization (specification and definition of integral (generalized indexes of socio-political and economic processes in the country are taking place. After that the ranking of countries by aggregated standardized ratio is arranged, taking into account the significance of the developed indicators. The final phase of implementation methodology is identifying risks of social, political and economic processes of public policy around the world. This is the ranking of countries by ratio of stability in public policy (stability of economic and socio-political processes in the country. As the result of implementation methodology the following output was received: what really makes a difference is not the amount of the country's debt, but how effectively it manages this debt, whether it has a goal to improve social and economic indicators. Practical testing methodology has proven that studied indicators fully characterize the development of the countries, their political, social and economic situation on the world stage.

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

    CERN Document Server

    Pandian, C Ravindranath

    2006-01-01

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

  16. The Theme of Risk Management

    Directory of Open Access Journals (Sweden)

    Chua, D. K. H.

    2014-07-01

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

  17. Reducing political risk in EU pooling and sharing

    NARCIS (Netherlands)

    Kuijpers, D.; Faleg (ed), G.

    2014-01-01

    Can states share political accountability by allowing common defence capability development, training of troops, or procurement of military equipment? Is the defence industry ready for Pooling and Sharing (PS)?

  18. Understanding Risk Management

    National Research Council Canada - National Science Library

    2005-01-01

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

  19. Managing Multiple Risk Factors

    National Research Council Canada - National Science Library

    Lollis, Charlie

    1998-01-01

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

  20. A new energy paradigm for Turkey: A political risk-inclusive cost analysis for sustainable energy

    International Nuclear Information System (INIS)

    Oksay, Serhan; Iseri, Emre

    2011-01-01

    Implementing sustainable development policies in order to achieve economic and social development while maintaining adequate environmental protection to minimize the damage inflicted by the constantly increasing world population must be a major priority in the 21st century. While the emerging global debate on potential cost-effective responses has produced potential solutions such as cap and trade systems and/or carbon taxes as part of evolving sustainable energy/environmental policies, this kind of intellectual inquiry does not seem to be an issue among Turkish policy-making elites. This is mainly due to their miscalculation that pursuing sustainable energy policies is much more expensive in comparison to the utilization of fossil fuels such as natural gas. Nevertheless, the pegged prices of an energy sector dominated by natural gas are illusive, as both the political risks and environmental damage have not been incorporated into the current cost calculations. This paper evaluates energy policies through a lens of risk management and takes an alternative approach to calculating energy costs by factoring in political risks. This formulation reveals that the cost of traditional fossil-based energy is in fact more expensive than renewable energy. In addition to being environmentally friendly, the paradigm shift towards renewable energy policies would provide Turkey with a significant opportunity to stimulate its economy by being one of the first countries to develop green technologies and as a result this burgeoning sector would prompt job creation as well; mainly due to the externalities. - Research highlights: → This paper evaluates Turkish energy policies through risk management scope and takes an alternative approach on calculating electricity costs by factoring in political risks. → The cost of traditional fossil-based energy turns out to be more expensive than renewable energy. → The paradigm shift towards renewable energy policies could provide Turkey

  1. How to manage risk better

    CSIR Research Space (South Africa)

    Walwyn, DR

    2002-09-01

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

  2. Vulnerability assessments as a political creation: tsunami management in Portugal.

    Science.gov (United States)

    Pronk, Maartje; Maat, Harro; Crane, Todd A

    2017-10-01

    Vulnerability assessments are a cornerstone of contemporary disaster research. This paper shows how research procedures and the presentation of results of vulnerability assessments are politically filtered. Using data from a study of tsunami risk assessment in Portugal, the paper demonstrates that approaches, measurement instruments, and research procedures for evaluating vulnerability are influenced by institutional preferences, lines of communication, or lack thereof, between stakeholder groups, and available technical expertise. The institutional setting and the pattern of stakeholder interactions form a filter, resulting in a particular conceptualisation of vulnerability, affecting its operationalisation via existing methods and technologies and its institutional embedding. The Portuguese case reveals a conceptualisation that is aligned with perceptions prevalent in national government bureaucracies and the exclusion of local stakeholders owing to selected methodologies and assessment procedures. The decisions taken by actors involved in these areas affect how vulnerability is assessed, and ultimately which vulnerability reduction policies will be recommended in the appraisal. © 2017 The Author(s). Disasters © Overseas Development Institute, 2017.

  3. Political risk and foreign direct investment in Nigeria: New empirical evidence

    Directory of Open Access Journals (Sweden)

    Musa Hatim Koko

    2016-08-01

    Full Text Available The positive effect of globalization has continued to impact FDI inflow to developing countries during the last decade except for the rising influence of political risk in host locations. Mixed outcomes have trailed the findings related to the studies on FDI and political risk relationship and in particular on African countries like Nigeria. This paper investigated the effect of political risk on FDI inflow to Nigeria using secondary data from 2000 to 2014 using simple linear regression. The study combined from select variables, the institutional factors with location determinants peculiar to Nigeria’s risk environment. It is found that political risk holds a positive and significant association with FDI to Nigeria but not close enough to inhibit the inflow of foreign investment to the country. However, the findings provide a strong basis for policy shift in relation to security, country promotion and rebranding as well strengthening of institutions.

  4. Market-based instruments for environmental management: politics and institutions

    DEFF Research Database (Denmark)

    The contributors examine the role of political processes in designing, introducing and implementing green taxes and charges and analyse the extent to which political concerns complicate the approach favoured by environmental economists. The authors then focus on the implementation of market-based......-based instruments to achieve environmental objectives and offer an ex-post evaluation of different countries’ experiences with economic instruments....

  5. Risk management solutions for Cernavoda Unit #2 NPP completion

    International Nuclear Information System (INIS)

    Chirica, T.; Pall, S.

    2002-01-01

    The greatest risk facing today's electric utilities is change. Utility risk managers are being challenged to address the changes of deregulation, new technologies and changing work force. The utilities must be more aware of where all its costs are located to face with the challenge of competition, forcing them to respond with lower prices and innovative services. For completion of large projects, like Cernavoda NPP, Unit 2, the utilities are facing also with certain specific risks: politic, economic, social. The natural perils or machinery breakdown are common risks for operation as well as for construction-commissioning projects. Beyond the explicit challenges associated with the completion of a nuclear power plant in a transition economy environment, the utilities are facing with new risk factors such as professional liability, political risk, product warranty and liability, international exposure, etc. Changes in other governmental policies are also affecting large projects, mentioning healthcare, workplace safety, workers' compensation, environmental clean up, etc.(author)

  6. The political management of managed care: explaining variations in state health maintenance organization regulations.

    Science.gov (United States)

    Gray, Virginia; Lowery, David; Godwin, Erik K

    2007-06-01

    In the 1990s, strong incentives for managed care organizations to control costs, once regarded as a fortuitous confluence of interests, came to be seen as antithetical to consumers' interests in quality of care. In response to this change in political climate, many states have greatly increased their regulatory control of managed care organizations since the mid-1990s. This activity is surprising in an era when public policy on health care issues is usually described as frozen, gridlocked, and/or stalemated as a result of intense activity on the part of organized interests. We take advantage of the variation in state regulations of health maintenance organizations (HMOs) to discover why some governments are able to address policy problems that are often perceived as intractable in a political if not in a true policy sense. From the history of HMOs, the backlash against managed care, and state responses to that backlash, we first extract a number of hypotheses about state regulatory activity. We then test these hypotheses with data on regulatory adoptions by states during the late 1990s and the early 2000s. Last, we discuss the findings with special attention to the role of politics in health care.

  7. Legal risk management in shipping

    DEFF Research Database (Denmark)

    Siig, Kristina

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

  8. Risk Management for Food Allergy

    DEFF Research Database (Denmark)

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

  9. Scientific risk communication about controversial issues influences public perceptions of scientists' political orientations and credibility

    Science.gov (United States)

    2018-01-01

    Many scientists communicate with the public about risks associated with scientific issues, but such communication may have unintended consequences for how the public views the political orientations and the credibility of the communicating scientist. We explore this possibility using an experiment with a nationally representative sample of Americans in the fall of 2015. We find that risk communication on controversial scientific issues sometimes influences perceptions of the political orientations and credibility of the communicating scientist when the scientist addresses the risks of issues associated with conservative or liberal groups. This relationship is moderated by participant political ideology, with liberals adjusting their perceptions of the scientists' political beliefs more substantially when the scientist addressed the risks of marijuana use when compared with other issues. Conservatives' political perceptions were less impacted by the issue context of the scientific risk communication but indirectly influenced credibility perceptions. Our results support a contextual model of audience interpretation of scientific risk communication. Scientists should be cognizant that audience members may make inferences about the communicating scientist's political orientations and credibility when they engage in risk communication efforts about controversial issues. PMID:29515820

  10. Scientific risk communication about controversial issues influences public perceptions of scientists' political orientations and credibility.

    Science.gov (United States)

    Vraga, Emily; Myers, Teresa; Kotcher, John; Beall, Lindsey; Maibach, Ed

    2018-02-01

    Many scientists communicate with the public about risks associated with scientific issues, but such communication may have unintended consequences for how the public views the political orientations and the credibility of the communicating scientist. We explore this possibility using an experiment with a nationally representative sample of Americans in the fall of 2015. We find that risk communication on controversial scientific issues sometimes influences perceptions of the political orientations and credibility of the communicating scientist when the scientist addresses the risks of issues associated with conservative or liberal groups. This relationship is moderated by participant political ideology, with liberals adjusting their perceptions of the scientists' political beliefs more substantially when the scientist addressed the risks of marijuana use when compared with other issues. Conservatives' political perceptions were less impacted by the issue context of the scientific risk communication but indirectly influenced credibility perceptions. Our results support a contextual model of audience interpretation of scientific risk communication. Scientists should be cognizant that audience members may make inferences about the communicating scientist's political orientations and credibility when they engage in risk communication efforts about controversial issues.

  11. ANALYSIS OF THE POLITICAL COMPONENT OF THE COUNTRY RISK FOR ROMANIA

    Directory of Open Access Journals (Sweden)

    Florentina Cristina BALDAN

    2015-06-01

    Full Text Available The paper aims at analysing the political component of the country risk for Romania. In the first part of the research I presented a few theoretical aspects of the country risk, and I subsequently presented the situation of the political component of the country risk for Romania in the worldwide and European context according to the Marsh Political Risk Map Report for the 2013-2015 period. In relation n to the macroeconomic analysis of the country, in 2015, the European Commission conducted, for the first time, a thorough analysis of Romania’s situation, following which this country was ranked second in terms of macroeconomic imbalances. According to this category, Romania is a country with macroeconomic imbalances which require monitoring and political actions.

  12. The Impact of Organizational Politics on The Effectiveness of Management Development In The Kenya Civil Service

    Directory of Open Access Journals (Sweden)

    Professor Roselyne W. Gakure

    2013-07-01

    The study found that managers were fully aware of the political context of the civil service but they did not think that Organizational Politics affected key management areas and felt that their supervisors supported them and ensured they were clear about their roles. They however thought that Organization Politics affected social relations at the workplace significantly. The study concluded that practices like performance contracting had reduced negative impacts and ensured that managers were clear on what was expected of them. The effect of politics on social relationships could be the reason for the ‘silo mentality’ pervading the civil service interfering with learning from each other, limiting benchmarking of successful interventions and resulting in duplication of effort that interferes with effective service delivery. The study recommends that the Government addresses the impact of politics on social relationships to improve work based learning through internal bench marking.

  13. Managing Supplier Sustainability Risk

    OpenAIRE

    Harilainen, Hanna-Riitta

    2014-01-01

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

  14. Political Risk and the Cost of Capital in Asia-Pacific Property Markets

    OpenAIRE

    George D. Cashman; David M. Harrison; Hainan Sheng

    2015-01-01

    This study investigates the impact of political risk on the cost of capital for publicly traded real estate firms. More specifically, by using a sample of 102 REITs and listed property trusts, which hold nearly 6,000 distinct investment properties across the Asia-Pacific region, we find strong empirical evidence that increased exposure to political risk increases both the cost of equity financing of a firm and its weighted average cost of capital. Interestingly, no such linkages are apparent ...

  15. The importance of the impact of political risk factors in South Africa

    Directory of Open Access Journals (Sweden)

    Rudolf Essel

    2013-04-01

    Full Text Available Political risk factors often impact negatively on the financial results of an enterprise, industry, geographical region or an entire country. In severe cases they may even lead to financial disasters. Previous research (by Essel identified 10 specific political risk factors which are common to emerging market economies. As South Africa is a developing country with an emerging market economy, these 10 political risk factors should also be present in this country. This paper focuses on the importance of the impact of political risk factors on an agent’s total annual claims amount when underwriting political risk insurance in South Africa. The objective of this research paper embodies the improvement of financial decision-making by a particular enterprise, industry, geographical region or country operating in an emerging market economy, pertaining to the importance of the impact of political risk factors. A literature study as well as an empirical survey was done to achieve the study’s objective. The conclusions of this research should also be valuable to other enterprises, industries, geographical regions or countries which operate in an emerging market economy.

  16. Subsea pipeline operational risk management

    Energy Technology Data Exchange (ETDEWEB)

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

    1996-12-31

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

  17. Risk Management and Value Creation

    DEFF Research Database (Denmark)

    Andersen, Torben Juul; Roggi, Oliviero

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

  18. Risk Management in the Exchange Fund Account

    OpenAIRE

    Michel Rochette

    2002-01-01

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

  19. The managers' moment in Western politics: the popularization of management and its effects in the 1980s and 1990s

    NARCIS (Netherlands)

    Kroeze, D.B.R.; Keulen, S.J.

    2014-01-01

    In the 1980s and 1990s, political leaders in Western democracies used management and managerialism to initiate change. The result was privatization, deregulation, public cost-cutting programs and a greater influence of business leaders and managerial principles in politics and public administration.

  20. Managing nuclear supplier risks

    International Nuclear Information System (INIS)

    Ramberg, B.

    1990-01-01

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

  1. Nuclear Stockpile Management: A Technical and Political Assessment

    International Nuclear Information System (INIS)

    Sitt, Bernard; Grand, Camille

    2009-10-01

    Managing the nuclear arsenals (whether strategic or non-strategic ones) belonging to States that possess nuclear weapons is quintessentially based on the objective of maintaining security, safety and the reliability of their weapons. Since the early stages of military nuclear armaments, it has hinged on an approach that has been altogether scientific, technical and industrial, where nuclear tests have played a key role in acquiring and checking knowledge, while advancing the research and development of new weapons. It has experienced important evolutions, particularly linked to the interruption of nuclear tests since the early 1990's, and to the gradual multilateral evolution towards the total banning of such tests, enforced thanks to moratorium agreements and later by the rounds of talks leading to the Comprehensive Test Ban Treaty (CTBT), its adoption and opening for signature in September 1996. The situation of de facto nuclear states is a different one, in that their strategic posture and the development of their arsenals are placed in specific regional contexts; yet, compared with the five nuclear weapons States according to the definition of the Non-Proliferation Treaty (NPT), their objectives in terms of reliability, safety and security are, of necessity, of the same nature, even though the technological capabilities placed at their disposal to meet their goals may vary considerably from one country to the next. One determining context is the ban on nuclear weapon tests. As decades went by, four successive treaties were signed: PTBT (1963), TTBT (1974), PNET (1976), CTBT (1996). Even though a complete, legally binding test ban still remains to be fully implemented, for more than ten years, there has existed a political norm of renunciation of testing, and a quasi-universal one too. Indeed the CTBT has had, and will continue to have, more remarkable results than the previous treaties, and it is bound to impose further serious constraints on the Stockpile

  2. Handbook on Decision Making Vol 2 Risk Management in Decision Making

    CERN Document Server

    Lu, Jie; Zhang, Guangquan

    2012-01-01

    This book presents innovative theories, methodologies, and techniques in the field of risk management and decision making. It introduces new research developments and provides a comprehensive image of their potential applications to readers interested in the area. The collection includes: computational intelligence applications in decision making, multi-criteria decision making under risk, risk modelling,forecasting and evaluation, public security and community safety, risk management in supply chain and other business decision making, political risk management and disaster response systems. The book is directed to academic and applied researchers working on risk management, decision making, and management information systems.

  3. Macroeconomic control, political costs and earnings management: Evidence from Chinese listed real estate companies

    Directory of Open Access Journals (Sweden)

    Donghua Chen

    2011-09-01

    Full Text Available Firms in China have faced high political costs during China’s economic transition, because they are affected by macroeconomic policies. However, research to date has offered no consistent conclusions on the relationship between political costs and earnings management in China. This study tests whether real estate firms attempt to decrease earnings during periods of macroeconomic control, using variables related to the national real estate market as proxies for political costs. We find that political costs are negatively related to earnings management in listed real estate firms. In addition, we find that non-state-owned enterprises utilized more income-decreasing accruals during this period. Our results are consistent with the political costs hypothesis.

  4. A CONSOLIDATED MODEL OF ANALYSIS OF THE RELATIONS BETWEEN POLITICS AND MANAGEMENT WITHIN PUBLIC ORGANIZATIONS

    OpenAIRE

    Catalina Maria GEORGESCU; Tudor NISTORESCU

    2011-01-01

    An interdisciplinary approach which combines the theoretical, empirical and conceptual dimensions, the present study tries to offer a new work perspective on the assessment and modeling of the relation between the management of public organizations and the political environment. The theoretical research was centered on reviewing the literature on the relation between the management of public organizations and the political environment. The empirical research was materialized by modeling with ...

  5. Obstetrics Hospitalists: Risk Management Implications.

    Science.gov (United States)

    Veltman, Larry

    2015-09-01

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

  6. Risk Management Concepts and Guidance

    Science.gov (United States)

    1989-03-01

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

  7. Public and political issues in radwaste management: The Spanish approach

    International Nuclear Information System (INIS)

    Lang-Lenton, Jorge

    1999-01-01

    ENRESA (Empresa Nacional de Residuos Radiactivos, S.A.), is a State-owned company, founded in 1984 and is responsible for radioactive waste management in Spain. ENRESA's activities are carried out in accordance with a General Radioactive Waste Plan approved by the Spanish Government. In Spain, as in most countries, the public is concerned about many of the activities involving radioactivity or rad waste management; this concern arises for different reasons, being one of them the lack of information on the matter. This situation often leads to an information misuse by certain politicians, green groups and media, which can increase the distrust of the public to responsible companies and institutions. At the root of both these problems there is also a lack of political consensus regarding projects and related activities. To gain public acceptance, it is necessary to develop a long-term information policy since, in the field of communication, results can only be achieved in the long term. ENRESA is carrying out an on-going Communication Plan (CP), implemented successfully in the areas surrounding a low and intermediate level waste disposal site and a 500 MW nuclear power station (Vandellos 1) which is currently being dismantled. Implementation of this plan at national level is being accomplished stepwise. This document deals with the most relevant issues relating to the radioactive waste situation in Spain and with the efforts made in communications. From the very beginning the situation regarding public opinion was one of clear opposition. At regional level, and particularly in the area surrounding the El Cabril site, both the general public and the opinion leaders were opposed to any action by ENRESA. This opposition included some anti-ENRESA demonstrations right in front of the main entrance to El Cabril. At national level politicians, journalists, etc., did not show much confidence in ENRESA's activities, and the information published in the newspapers was always

  8. Climate Change, State Stability, and Political Risk in Africa

    Science.gov (United States)

    2016-09-30

    and how climate change poses threats to stability in Africa, identified strategies to support accountable and effective governance in Africa, and...interviews, the CCAPS program seeks to identify where and how climate change could undermine state stability, to define strategies for building...269–81. v Lisa Friedman, “Which Nations Are Most Vulnerable to Climate Change ? The Daunting Politics of Choosing ,” 2010, http://www.nytimes.com/cwire

  9. 12 CFR 917.3 - Risk management.

    Science.gov (United States)

    2010-01-01

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

  10. Corporate Social Responsibility Reporting and Earnings Management: The Role of Political Costs

    Directory of Open Access Journals (Sweden)

    Erica Yip

    2011-09-01

    Full Text Available Recently, Francis, Nanda and Olsson (2008 proposed that earnings quality influence firms’ disclosure decisions. We examine whether Corporate Social Responsibility (CSR disclosure is related to earnings management and if the relationship is mitigated by political cost considerations or by the firm’s ethical predisposition. We argue that the relationship between CSR reporting and earnings management is context-specific and we consider one particular context, the political environment. We test our hypotheses by regressing earnings management on CSR disclosure while controlling for other factors that may affect the level of earnings management. We find a significant relationship between CSR reporting and earnings management, and more specifically, we find evidence of a negative (complementary relationship in the oil and gas industry while we find evidence of a positive (substitutive relationship in the food industry. The evidence supports the view that the relationship between CSR reporting and earnings management is affected by the political environment and not by ethical considerations.

  11. EFFECTIVE RISK MANAGEMENT IN MODERN INDUSTRIAL ...

    African Journals Online (AJOL)

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

  12. A view on risk management

    International Nuclear Information System (INIS)

    Joksimovich, V.

    1991-01-01

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

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

    Science.gov (United States)

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

    2016-02-15

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

  14. The politics of tour guiding: image management in Indonesia

    NARCIS (Netherlands)

    Dahles, H.

    2002-01-01

    The concept of tourist guides as "mediators" of local culture fails to capture the political component of guiding. Governments use tourism strategically in order to address issues of national significance. Based on an analysis of the policies of tourist guiding of the Indonesian government under

  15. Political Management of Ethnic Perceptions: An Assessment of the ...

    African Journals Online (AJOL)

    This paper argues that the ANC has historically followed a moderate route – embracing tradition, whilst denouncing tribalism. Yet, this did not insulate the party from accusations of ethnic bias – a perception the leadership largely left unattended. But, entry into the arena of competitive politics has imposed a slight ...

  16. Risk management at GPU Nuclear

    International Nuclear Information System (INIS)

    Long, R.L.

    1991-01-01

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

  17. CEA: assessment of risk management 2011

    International Nuclear Information System (INIS)

    2012-06-01

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

  18. Social and ethical issues in environmental risk management.

    Science.gov (United States)

    Oughton, Deborah H

    2011-07-01

    The recognition of the social and ethical aspects of radiation risk management has been an important part of international projects following the Chernobyl accident of 1986. This study comments on the science and policy issues in environmental risk assessment, including the social and ethical dimensions of emergency preparedness and remediation experiences gained from the Chernobyl accident. While the unique situation of Fukushima, combined with an earthquake and tsunami, raises its own social and political challenges, it is hoped that some of the lessons learnt from Chernobyl will be relevant to long-term management of the Fukushima site. Copyright © 2011 SETAC.

  19. Tank waste remediation system risk management plan

    International Nuclear Information System (INIS)

    Zimmerman, B.D.

    1998-01-01

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

  20. Reducing the risk, managing safety.

    Science.gov (United States)

    Aldridge, Peter

    2016-02-01

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

  1. Integrating and Prioritizing Environmental Risks in China's Risk Management Discourse

    NARCIS (Netherlands)

    Zhang, L.; Zhong, L.

    2010-01-01

    Human society faces a growing number of risks, including both natural disasters and risks that stem from human behavior. This is particularly true in China, which is experiencing rapid social, economic and political transitions. Since the 1970s, China's modernization process has been accompanied by

  2. Overview of the Hanford risk management plan

    Energy Technology Data Exchange (ETDEWEB)

    Halverson, T.G.

    1998-03-26

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

  3. Overview of the Hanford risk management plan

    International Nuclear Information System (INIS)

    Halverson, T.G.

    1998-01-01

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

  4. Risk Management for e-Business

    Directory of Open Access Journals (Sweden)

    2007-01-01

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

  5. Tank waste remediation system risk management list

    International Nuclear Information System (INIS)

    Collard, L.B.

    1995-01-01

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

  6. Risk Management Practices by Barbadian Banks

    Directory of Open Access Journals (Sweden)

    Anthony Wood

    2013-07-01

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

  7. Electricity derivatives and risk management

    Energy Technology Data Exchange (ETDEWEB)

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

    2006-05-15

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

  8. Governance of environmental risk: new approaches to managing stakeholder involvement.

    Science.gov (United States)

    Benn, Suzanne; Dunphy, Dexter; Martin, Andrew

    2009-04-01

    Disputes concerning industrial legacies such as the disposal of toxic wastes illustrate changing pressures on corporations and governments. Business and governments are now confronted with managing the expectations of a society increasingly aware of the social and environmental impacts and risks associated with economic development and demanding more equitable distribution and democratic management of such risks. The closed managerialist decision-making of the powerful bureaucracies and corporations of the industrial era is informed by traditional management theory which cannot provide a framework for the adequate governance of these risks. Recent socio-political theories have conceptualised some key themes that must be addressed in a more fitting approach to governance. We identify more recent management and governance theory which addresses these themes and develop a process-based approach to governance of environmental disputes that allows for the evolving nature of stakeholder relations in a highly complex multiple stakeholder arena.

  9. 42 CFR 441.476 - Risk management.

    Science.gov (United States)

    2010-10-01

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

  10. The complete idiot's guide to risk management

    CERN Document Server

    Cortez, Annetta

    2010-01-01

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

  11. Caries management by risk assessment.

    Science.gov (United States)

    Young, Douglas A; Featherstone, John D B

    2013-02-01

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

  12. Exploring the social and political aspects of talent management in organisations.

    OpenAIRE

    Zesik, Barbara

    2016-01-01

    Talent management has been an area of significant organisational focus since 1997 when McKinsey and Company first introduced the concept of the ‘war for talent’. What appears to have been neglected in many subsequent talent management publications, however, is the tension between the rhetoric and reality of talent management. The objective of the research is to explore this tension in the context of the social and political aspects of managing talent in organisations and to gain a deeper unde...

  13. Risk management in insurance business

    OpenAIRE

    Buškevičiūtė, Eugenija; Leškevičiūtė, Audronė

    2008-01-01

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

  14. Risk Management : History, Definition and Critique

    OpenAIRE

    Georges Dionne

    2013-01-01

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

  15. Managing risk in an unstable world.

    Science.gov (United States)

    Bremmer, Ian

    2005-06-01

    With emerging markets like China and politically unstable countries like Saudi Arabia figuring more than ever into companies' investment calculations, business leaders are turning to political risk analysis to measure the impact of politics on potential markets, minimize risks, and make the most of global opportunities. But political risk is more subjective than its economic counterpart. It is influenced by the passage of laws, the foibles of government leaders, and the rise of popular movements. So corporate leaders must grapple not just with broad, easily observable trends but also with nuances of society and even quirks of personality. And those hard-to-quantify factors must constantly be pieced together into an ongoing narrative within historical and regional contexts. As goods, services, information, ideas, and people cross borders today with unprecedented velocity, corporations debating operational or infrastructural investments abroad increasingly need objective, rigorous assessments. One tool for measuring and presenting stability data, for example, incorporates 20 composite indicators of risk in emerging markets and scores risk variables according to both their structural and their temporal components. The indicators are then organized into four equally weighted subcategories whose ratings are aggregated into a single stability score. Countries are ranked on a scale of zero (a failed state) to100 (a fully institutionalized, stable democracy). Companies can buy political risk analyses from consultants or, as some large energy and financial services organizations have done, develop them in-house. Either way, a complete and accurate picture of any country's risk requires analysts with strong reportorial skills; timely, accurate data on a variety of social and political trends; and a framework for evaluating the impact of individual risks on stability.

  16. Normative engineering risk management systems

    International Nuclear Information System (INIS)

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

    1997-01-01

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

  17. The institutionalization of River Basin Management as politics of scale - Insights from Mongolia

    Science.gov (United States)

    Houdret, Annabelle; Dombrowsky, Ines; Horlemann, Lena

    2014-11-01

    River Basin Management (RBM) as an approach to sustainable water use has become the dominant model of water governance. Its introduction, however, entails a fundamental realignment and rescaling of water-sector institutions along hydrological boundaries. Creating such a new governance scale is inherently political, and is being described as politics of scale. This paper analyzes how the politics of scale play out in the institutionalization of RBM in Mongolia. It furthermore scrutinizes the role of the broader political decentralization process in the introduction of RBM, an issue that has so far received little attention. Finally, it assesses whether the river basin is an adequate water management scale in Mongolia. This article finds that institutionalizing RBM in Mongolia is indeed a highly political negotiation process that does not only concern the choice of the governance scale, but also its detailed institutional design. It furthermore reveals that Mongolia's incomplete political decentralization process has for a long time negatively impacted the decentralization of water-related tasks and the implementation of RBM. However, the 2011 Budget Law and the 2012 Water Law provide for a fiscal strengthening of local governments and clearer sharing of responsibilities among the various different institutions involved in water management. Nevertheless, only if the 2012 Water Law is complemented by adequate by-laws - and if the newly created river basin institutions are adequately equipped - can RBM be effectively put into practice. This article confirms the usefulness of a politics-of-scale approach to understand scalar practices and changes in water management. However, the article also argues for a broadening of the analytical perspective to take the interdependencies between changes in water governance and other political processes, such as decentralization, into account.

  18. Entrepreneurial environmental management model of marketing in a political-administrative system of Ukraine

    Directory of Open Access Journals (Sweden)

    Sadchenko Olena Vasylivna

    2015-02-01

    Full Text Available The article deals with proposals for entrepreneurial model of environmental management, in particular environmental marketing in modern political and administrative systems. In the context of the complexity of the social structure, forming a dense network of communications, globalization, cultural and economic-ecological space offers new mechanisms for the relationship between the state and civil society in environmental management.

  19. Strategies for psychosocial risk management in manufacturing

    OpenAIRE

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

    2015-01-01

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

  20. Hanford Tanks Initiative risk management guide

    International Nuclear Information System (INIS)

    Schaus, P.S.

    1997-01-01

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

  1. Managing IT Integration Risk in Acquisitions

    DEFF Research Database (Denmark)

    Henningsson, Stefan; Kettinger, William J.

    2016-01-01

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

  2. Risk management in nuclear power social aspects

    International Nuclear Information System (INIS)

    Sappa, N.N.

    1996-01-01

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

  3. Strategic raw materials. Risk management

    International Nuclear Information System (INIS)

    Bertau, Martin; Matschullat, Joerg; Kausch, Peter

    2014-01-01

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

  4. Security risks in nuclear waste management: Exceptionalism, opaqueness and vulnerability.

    Science.gov (United States)

    Vander Beken, Tom; Dorn, Nicholas; Van Daele, Stijn

    2010-01-01

    This paper analyses some potential security risks, concerning terrorism or more mundane forms of crime, such as fraud, in management of nuclear waste using a PEST scan (of political, economic, social and technical issues) and some insights of criminologists on crime prevention. Nuclear waste arises as spent fuel from ongoing energy generation or other nuclear operations, operational contamination or emissions, and decommissioning of obsolescent facilities. In international and EU political contexts, nuclear waste management is a sensitive issue, regulated specifically as part of the nuclear industry as well as in terms of hazardous waste policies. The industry involves state, commercial and mixed public-private bodies. The social and cultural dimensions--risk, uncertainty, and future generations--resonate more deeply here than in any other aspect of waste management. The paper argues that certain tendencies in regulation of the industry, claimed to be justified on security grounds, are decreasing transparency and veracity of reporting, opening up invisible spaces for management frauds, and in doing allowing a culture of impunity in which more serious criminal or terrorist risks could arise. What is needed is analysis of this 'exceptional' industry in terms of the normal cannons of risk assessment - a task that this paper begins. Copyright 2009 Elsevier Ltd. All rights reserved.

  5. 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...

  6. Value at Risk models for Energy Risk Management

    OpenAIRE

    Novák, Martin

    2010-01-01

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

  7. Refuse and the ‘Risk Society’: The Political Ecology of Risk in Inter-war Britain

    Science.gov (United States)

    Cooper, Timothy; Bulmer, Sarah

    2013-01-01

    This article responds to current critiques of Ulrich Beck's ‘risk society’ thesis by historians of science and medicine. Those who have engaged with the concept of risk society have been content to accept the fundamental categories of Beck's analysis. In contrast, we argue that Beck's risk society thesis underplays two key themes. First, the role of capitalist social relations as the driver of technological change and the transformation of everyday life; and second, the ways in which hegemonic discourses of risk can be appropriated and transformed by counter-hegemonic forces. In place of ‘risk society’, we propose an approach based upon a ‘political ecology of risk’, which emphasises the social relations that are fundamental to the everyday politics of environmental health. PMID:24771975

  8. Policy, politics, and water management in the Guadalquivir River Basin, Spain

    Science.gov (United States)

    Bhat, Anjali; Blomquist, William

    2004-08-01

    Among countries with river basin organizations to manage their water resources, Spain's experience is one of the longest. One of the first basin agencies established in Spain was for the Guadalquivir River in the south. A case study of that river basin and its management indicates how basin management is shaped by political economy factors such as the historical path of the agency's evolution, the basin agency's relationships with central government and with regional or local governments, the patterns of water user representation within the agency, and developments in water law and policy external to the basin agency. The case raises questions about whether and how integrated water resources management at the river basin scale is implemented, even in locations where basin agencies already exist. It also suggests that the politics of management at the river basin level will affect the implementation of national water policies intended to promote integrated management.

  9. The political economy of a public health case management program's transition into medical homes.

    Science.gov (United States)

    Wells, Rebecca; Cilenti, Dorothy; Issel, L Michele

    2015-11-01

    Throughout the United States, public health leaders are experimenting with how best to integrate services for individuals with complex needs. To that end, North Carolina implemented a policy incorporating both local public health departments and other providers into medical homes for low income pregnant women and young children at risk of developmental delays. To understand how this transition occurred within local communities, a pre-post comparative case study was conducted. A total of 42 people in four local health departments across the state were interviewed immediately before the 2011 policy change and six months later: 32 professionals (24 twice) and 10 pregnant women receiving case management at the time of the policy implementation. We used constant comparative analysis of interview and supplemental data to identify three key consequences of the policy implementation. One, having medical homes increased the centrality of other providers relative to local health departments. Two, a shift from focusing on personal relationships toward medical efficiency diverged in some respects from both case managers' and mothers' goals. Three, health department staff re-interpreted state policies to fit their public health values. Using a political economy perspective, these changes are interpreted as reflecting shifts in public health's broader ideological environment. To a large extent, the state successfully induced more connection between health department-based case managers and external providers. However, limited provider engagement may constrain the implementation of the envisioned medical homes. The increased focus on medical risk may also undermine health departments' role in supporting health over time by attenuating staff relationships with mothers. This study helps clarify how state public health policy innovations unfold at local levels, and why front line practice may in some respects diverge from policy intent. Published by Elsevier Ltd.

  10. Risk, value conflict and political legitimacy. Chapter 7

    International Nuclear Information System (INIS)

    Cotgrove, S.

    1981-01-01

    The differing views of environmentalists, the public and industrialists on the perception of dangers to the environment are analysed. The subject is continued under the headings: competing paradigms; acceptable risk; values for money - flowers or production; a crisis of legitimacy (query). (U.K.)

  11. The Politics of Co-Production: Risks, Limits and Pollution

    Science.gov (United States)

    Flinders, Matthew; Wood, Matthew; Cunningham, Malaika

    2016-01-01

    Co-production is a risky method of social inquiry. It is time-consuming, ethically complex, emotionally demanding, inherently unstable, vulnerable to external shocks, subject to competing demands and it challenges many disciplinary norms. This is what makes it so fresh and innovative. And yet these research-related risks are rarely discussed and,…

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

    African Journals Online (AJOL)

    Ngulup

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

  13. Managing Primary Health Care in the South - South Geo Political ...

    African Journals Online (AJOL)

    It further analyzes factors and challenges of leadership which affect the performance of health managers. It also discussed case studies of proven innovative approaches and best practices in the management of human resources in sub – Saharan Africa and Nigeria. Data used in this paper is derived from secondary ...

  14. Study of International Standards of Risk Management

    Directory of Open Access Journals (Sweden)

    Dykan Volodymyr L.

    2014-01-01

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

  15. 12 CFR 932.1 - Risk management.

    Science.gov (United States)

    2010-01-01

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

  16. Risk Management for Human Support Technology Development

    Science.gov (United States)

    jones, Harry

    2005-01-01

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

  17. A CONSOLIDATED MODEL OF ANALYSIS OF THE RELATIONS BETWEEN POLITICS AND MANAGEMENT WITHIN PUBLIC ORGANIZATIONS

    Directory of Open Access Journals (Sweden)

    Catalina Maria GEORGESCU

    2011-01-01

    Full Text Available An interdisciplinary approach which combines the theoretical, empirical andconceptual dimensions, the present study tries to offer a new workperspective on the assessment and modeling of the relation between themanagement of public organizations and the political environment. Thetheoretical research was centered on reviewing the literature on the relationbetween the management of public organizations and the politicalenvironment. The empirical research was materialized by modeling with theregression technique of several aspects integrated to the relations betweenthe management of human resources within public organizations in theeducation field and the external political environment.

  18. Social Risk Management on German Labour Market

    Directory of Open Access Journals (Sweden)

    Raluca Mihălcioiu

    2014-05-01

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

  19. Political risk of social security: the case of the indexation of benefits in the Czech Republic

    Czech Academy of Sciences Publication Activity Database

    Dušek, Libor

    -, Č. 318 (2007), s. 1-29 ISSN 1211-3298 R&D Projects: GA MŠk LC542 Grant - others:GA ČR GA402/05/0711 Institutional research plan: CEZ:MSM0021620846 Keywords : social security * political risk * pension reform Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp318.pdf

  20. Panama disease and contract farming in the Philippines: Towards a political ecology of risk

    NARCIS (Netherlands)

    La Cruz, De Jaye; Jansen, Kees

    2018-01-01

    Despite the vast research on contract farming by agrarian scholars, little is known about interactions between biological risks and the social–political effects of contracts. This study analysed contract farming arrangements in the export banana industry in the Philippines amidst an expanding

  1. How political affiliation affects adaptation to climate risks: Evidence from New York City

    NARCIS (Netherlands)

    Botzen, W.J.W.; Michel-Kerjan, E.; Kunreuther, H; De Moel, H; Aerts, J.C.J.H.

    2016-01-01

    Research reveals that liberals and conservatives in the United States diverge about their beliefs regarding climate change. We show empirically that political affiliation also matters with respect to climate related risks such as flooding from hurricanes. Our study is based on a survey conducted 6

  2. Political affiliation affects adaptation to climate risks : Evidence from New York City

    NARCIS (Netherlands)

    Botzen, W. J Wouter; Michel-Kerjan, Erwann; Kunreuther, Howard; de Moel, Hans; Aerts, Jeroen C J H

    2016-01-01

    Research reveals that liberals and conservatives in the United States diverge about their beliefs regarding climate change. We show empirically that political affiliation also matters with respect to climate related risks such as flooding from hurricanes. Our study is based on a survey conducted 6

  3. Development of funding project risk management tools.

    Science.gov (United States)

    2013-11-01

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

  4. Integrated Foreign Exchange Risk Management

    DEFF Research Database (Denmark)

    Aabo, Tom; Høg, Esben; Kuhn, Jochen

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

  5. Integrated foreign exchange risk management

    DEFF Research Database (Denmark)

    Aabo, Tom; Høg, Esben; Kuhn, Jochen

    2010-01-01

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

  6. Managing risks: Seveso and Harrisburg

    International Nuclear Information System (INIS)

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

    1980-01-01

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

  7. Flood risk management in Italy

    DEFF Research Database (Denmark)

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

    2013-01-01

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

  8. Competitive effects and instruments of power sector reforms. International reform concepts blockade structures, risk distribution. A political economy analysis

    International Nuclear Information System (INIS)

    Liebchen, Armin

    2014-01-01

    Power sectors with weak or inadequate competition structures are the rule, despite numerous attempts at reform. But can afford modern economies this defect for a long time? Why can the implementation of competition are blocked so effectively? The author studied international reform experiences and opens up interesting insights that can also reflect on problems of the German energy turnaround: The difficulty of timing and coordination of the reform components, the development of resistance levels of individual interest groups, breach of contract as a rational alternative, causes unwanted price effects, shifting interest situations of major stakeholders, change dynamics impending regulatory risks, pending financing risks, stranded cost-conflict situations for power stations disconnected from the grid and facilities and instruments of a political and regulatory risk management for reforms. With numerous examples, background analyzes and instruments to reform analysis, this book is aimed at investors, policy planners and analysts. [de

  9. Managing risk with renewable resources

    International Nuclear Information System (INIS)

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

    1997-01-01

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

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

    Science.gov (United States)

    Mobley, Michael

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

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

    Science.gov (United States)

    Fernandez, M.; Ruegg, J.

    2012-04-01

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

  12. Managing project risks and uncertainties

    Directory of Open Access Journals (Sweden)

    Mike Mentis

    2015-01-01

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

  13. Enterprise Content Management Implementation and Risk

    Directory of Open Access Journals (Sweden)

    Jaroslava Klegová

    2015-01-01

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

  14. Calysto: Risk Management for Commercial Manned Spaceflight

    Science.gov (United States)

    Dillaman, Gary

    2012-01-01

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

  15. Focus Climate Talk on Managing Risk

    DEFF Research Database (Denmark)

    Lefsrud, Lianne M.; Meyer, Renate

    2013-01-01

    In this opinion piece, the authors begin by asking whether is is possible that modern society's bitter political divisions over belief in human-induced climate change are distracting decision-makers from the far more practical matter of confronting the risk that it presents, directly or indirectly...

  16. Integrated risk assessment and risk governance as socio-political phenomena: a synthetic view of the challenges.

    Science.gov (United States)

    Assmuth, Timo; Hildén, Mikael; Benighaus, Christina

    2010-08-15

    To call for integration in risk assessment and governance as a self-evident goal is deceptively easy. For more insight, we ask: what level and kind of integration and for what purposes is needed and sufficient? What opportunities and obstacles can be identified for integrative treatment of risks? What causes and impacts are there of developments in risk integration? To answer these questions we investigate the socio-political processes and factors surrounding integrated risk assessment and risk governance through a combination of literature reviews and original research. We emphasize regulatory assessment and governance of risks associated with chemicals in the EU, but we link them with other areas to better grasp options and problems in integration. We relate the problems to political factors and barriers in sector and vertical integration, including deviating interests, and further to conflicting information, concepts and mindsets. Risk assessment and risk governance involve varying notions of risks and knowledge, with tensions between stressor- or impact-oriented, exclusive or inclusive, positivist or relativist, and fixed or reflexive notions and approaches. These tensions influence the trajectories of integration between sectors, actors and regions, constraining the fulfillment of ideals of integrated governance. We conclude that risk assessment and governance can be integrated, harmonized and innovated to a limit only, but this limit is variable and flexible, and provides opportunities especially if attention is paid to the socio-political contexts, value choices and decision structures in each case. Generally, the results underline a reflexive approach whereby the meanings, framings and implications of risk integration are probed in open processes of deliberation and negotiation, as a learning process to transcend the formal and prescriptive modes of regulation and knowledge generation. Copyright 2009 Elsevier B.V. All rights reserved.

  17. BEHAVIOURAL INSIGHTS INTO SUPPLY CHAIN RISK MANAGEMENT

    OpenAIRE

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

    2015-01-01

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

  18. Commercializing fuel cells: managing risks

    Science.gov (United States)

    Bos, Peter B.

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

  19. Decentralising Natural Resource Management and the Politics of ...

    African Journals Online (AJOL)

    sulaiman.adebowale

    2006-08-25

    Aug 25, 2006 ... without actually investing its own resources and manpower. According to .... Forest revenue refers to income accruing from the direct sale of forest produce. A fee is payable for obtaining a license to process forest produce. ...... Integrated Stock Surveys and management Inventory (ISSMI), first used in.

  20. The Political Implications of Performance Management and Evidence-Based Policymaking

    DEFF Research Database (Denmark)

    Triantafillou, Peter

    2015-01-01

    Over the last few decades performance management (PM) has invaded the public sector in most Organisation for Economic Co-operation and Development (OECD) countries. More recently, we have seen increasing demands for evidence-based policymaking (EP). This article critically discusses the political...

  1. How Patronage Politics Undermines Parental Participation and Accountability: Community-Managed Schools in Honduras and Guatemala

    Science.gov (United States)

    Altschuler, Daniel

    2013-01-01

    This article shows how patronage politics affects a popular international education model: community-managed schools (CMS). Focusing on Honduras's CMS initiative, PROHECO (Programa Hondureno de Educacion Comunitaria), I demonstrate how patronage can undermine CMS accountability. Whereas supporters argue that CMS increases accountability, partisan…

  2. Exploring the Political Underbelly of Organizational Learning: Learning during Pay and Performance Management Change

    Science.gov (United States)

    Field, Laurie

    2011-01-01

    Purpose: In an effort to better understand the political dimensions of organizational learning, this paper aims to examine learning processes in an organizational context--namely renegotiation of pay and performance management arrangements--where the interests of organizational members are threatened. Design/methodology/approach: Data were derived…

  3. Credit Risk Evaluation : Modeling - Analysis - Management

    OpenAIRE

    Wehrspohn, Uwe

    2002-01-01

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

  4. The Problems of Tourist Sustainability in Cultural Cities: Socio-Political Perceptions and Interests Management

    Directory of Open Access Journals (Sweden)

    Antonio Alvarez-Sousa

    2018-02-01

    Full Text Available The aim of this article is to analyse the social and political capacity of cities affected by cultural tourism. An investigation is carried out into the state of the situation in saturated destinations, the problems this poses to tourist sustainability and the positions of the various different interest groups. In Europe, many cultural cities-cum-tourist hotspots have reached such high levels of socio-political saturation that the resident population’s capacity for carrying tourism has become overstretched. This has led to a state of irritation among the local population. Social movements now include this on their agenda but the various different interest groups (residents, political groups, entrepreneurs, management bodies all react differently. We present data relating to the case of Barcelona, with analyses of residents’ and tourists’ opinions, the actions of social mobilization carried out by pressure groups, media repercussion and the reactions of the business sector and political groups. We examine data collected from surveys and opinions carried in the media. The sustainability and management of interests indicate changes in both the number and the type of tourists, the occupation of public spaces, the distribution of profit among entrepreneurs, residents and the political and economic model of society in the future.

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

    Science.gov (United States)

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

    2003-01-01

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

  6. CEA - Assessment of risk management 2013

    International Nuclear Information System (INIS)

    Bigot, Bernard; Bonnevie, Edwige; Maillot, Bernard

    2014-06-01

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

  7. Waste management provisions in the political focus again

    International Nuclear Information System (INIS)

    Heller, W.

    2008-01-01

    In early January 2008, before the elections to the state parliament, the Social Democratic Party (SPD) in Hesse surprisingly announced that a state government led by the SPD would launch a legal initiative right away through the Federal Council 'to do away with the indirect subsidizing of nuclear power plant operators in connection with the provisions made for nuclear waste management and in the form of extensive exemptions from adequate nuclear liability'. The practice of making waste management provisions is subjected to a detailed analysis under aspects of law, business economics, the national economy, and fiscal regulations. The outcome shows that the legal provisions, confirmed also by a ruling of the European Court of Justice of December 2007, constitute neither a concession in the sense of a government subsidy nor a competitive advantage or a tax privilege. (orig.)

  8. The impact of management science on political decision making

    Science.gov (United States)

    White, M. J.

    1971-01-01

    The possible impact on public policy and organizational decision making of operations research/management science (OR/MS) is discussed. Criticisms based on the assumption that OR/MS will have influence on decision making and criticisms based on the assumption that it will have no influence are described. New directions in the analysis of analysis and in thinking about policy making are also considered.

  9. [The relevance of clinical risk management].

    Science.gov (United States)

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

    2011-01-01

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

  10. Contradictions Between Risk Management and Sustainable Development

    International Nuclear Information System (INIS)

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

    2006-01-01

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

  11. Contradictions Between Risk Management and Sustainable Development

    Energy Technology Data Exchange (ETDEWEB)

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

    2006-09-15

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

  12. Space weather and risk management

    Directory of Open Access Journals (Sweden)

    H. Lappalainen

    2005-01-01

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

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

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

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

  14. 76 FR 45724 - Clearing Member Risk Management

    Science.gov (United States)

    2011-08-01

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

  15. Risk Management and Financial Derivatives: An Overview

    NARCIS (Netherlands)

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

    2012-01-01

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

  16. RISK MANAGEMENT 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.

  17. Benchmarking Outdoor Expeditionary Program Risk Management Strategies

    Science.gov (United States)

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

    2017-01-01

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

  18. Active Risk Management and Banking Stability

    NARCIS (Netherlands)

    Silva Buston, C.F.

    2013-01-01

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

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

    Science.gov (United States)

    Gaustad, Joan

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

  20. Information risk management a practitioner's guide

    CERN Document Server

    Sutton, David

    2014-01-01

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

  1. Risk management at Lawrence Livermore National Laboratory

    International Nuclear Information System (INIS)

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

    1993-10-01

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

  2. RISK MANAGEMENT IN A LARGE-SCALE NEW RAILWAY TRANSPORT SYSTEM PROJECT

    Directory of Open Access Journals (Sweden)

    Sunduck D. SUH, Ph.D., P.E.

    2000-01-01

    Full Text Available Risk management experiences of the Korean Seoul-Pusan high-speed railway (KTX project since the planning stage are evaluated. One can clearly see the interplay of engineering and construction risks, financial risks and political risks in the development of the KTX project, which is the peculiarity of large-scale new railway system projects. A brief description on evaluation methodology and overview of the project is followed by detailed evaluations on key differences in risks between conventional railway system and high-speed railway system, social and political risks, engineering and construction risks, and financial risks. Risks involved in system procurement process, such as proposal solicitation, evaluation, selection, and scope of solicitation are separated out and evaluated in depth. Detailed events resulting from these issues are discussed along with their possible impact on system risk. Lessons learned and further possible refinements are also discussed.

  3. Political Will for Effective Reform Management and Sustainable Development Goals Achievement in Nigeria

    Directory of Open Access Journals (Sweden)

    John N. N. Ugoani

    2017-09-01

    Full Text Available Political will is important for effective and sustainable reform management because anticorruption reforms must focus on the internal management of public sector resources to reduce incentives and opportunities for corruption and mismanagement. It is the driver of a robust private sector, resilient media, vibrant civil society, transparent judiciary and good administrative reforms that lead to national integrity and sustainable development. The absence of political will is responsible for a situation where it is estimated that one out of every six out-of-school children worldwide is a Nigerian, and which brings to more than 10 million, the number of Nigerian children that are out-of-school. Consequently, the ranking of Nigeria as 39th out of 54 African countries in overall governance is a reflection of lack of political will, weak leadership and overall governance. This must be overcome as the world heads towards the UN Sustainable Development Goals 2030 Agenda. The sample comprised of 494 participants generated from a cross section of the population in Nigeria. Data were analyzed through descriptive and Chi-Square statistical methods. It was found that effective reform management in Nigeria requires political will.

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

    Science.gov (United States)

    Carroll, Roberta

    2016-01-01

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

  5. Strategies for successful software development risk management

    Directory of Open Access Journals (Sweden)

    Marija Boban

    2003-01-01

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

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

    NARCIS (Netherlands)

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

    2014-01-01

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

  7. Katrina's Lessons in California: Social and Political Trajectories of Flood Management in the Sacramento River Watershed since 2005

    Science.gov (United States)

    Comby, E.; Le Lay, Y. F.; Piegay, H.

    2017-12-01

    Over the last decade, major changes have occurred in the way that environments are managed. They can be linked with external or internal events which may shape public perception. An external event can reveal a forgotten risk and create a social problem (Hilgartner et Bosk 1988). Following the Advocacy Coalition Framework (Sabatier 1988), we studied the role of Hurricane Katrina in flood management in California from 2005 to 2013. How do policies intend to increase the city's resilience? We compared different flood policies of the Sacramento River from 2005 to 2013, by combining field observations with a principal dataset of 340 regional newspaper items (Sacramento Bee). Media coverage was analyzed using content, quotation, and textometry as well as GIS. We underlined temporal variability in public perceptions towards floods. Some planning choices (such as levees) became controversial, while journalists praised weirs, bypasses, and dams. However, Katrina does not seem to have a real impact on urban sprawl strategies in three Sacramento neighborhoods (Fig.1). We analyzed also the limits of the comparison between New Orleans and Sacramento. Dialog between stakeholders existed in space and time between here (California) and elsewhere (Louisiana), present (post-2005) and past (Katrina catastrophe), and risk and disaster. Katrina was a national scandal with political announcements. However, flood policy was developed first at a regional and then local scales. After Katrina awareness, conflicts appear: some California residents refuse to have a policy linked to Katrina applied to them. We underlined that different stakeholders became prominent: it may be useless to tackle with only one institution. Some institutions had an integrated river management, while others kept a traditional risk management. We assessed the changes in river management while using discourse to understand the (potential) shift in human-river relationships from risk management to integrated river

  8. THE MECHANISM OF STRATEGIC, POLITICAL AND PROCESS MANAGEMENT OF THE QUALITY OF UNIVERSITY SERVICES

    Directory of Open Access Journals (Sweden)

    Andrii Cherkasov

    2017-11-01

    Full Text Available The purpose of this work is to justify the need to develop and implement a mechanism for managing the quality of higher education services, which will solve a number of pressing problems that have arisen at the national level, at the level of the higher education system and the level of individual higher education institutions. Methodology. This study is based on the use of ENQA standards and recommendations, as well as modern general methods and practice of quality management. Results. The functioning of the mechanism for managing the quality of higher education services should be considered at three levels of decision-making (three hierarchically subordinate components of the mechanism, which are as follows: strategic, political and process. It is determined that the management of a higher education institution, like any organization, is carried out at three levels of decision-making: strategic, tactical, and operational. The paper substantiated the content and features of the implementation of the functions of each component of the quality management mechanism. Practical implications. The work determined the components of strategic management of the quality of higher education institutions' services, which include: strategic analysis of the external environment and self-assessment of the educational institution, development of strategic plans, management of the implementation of the higher educational institution strategy. Value/originality. It is determined that the political management of the quality of higher education services includes a broad setting of goals of the higher education institution, which in turn is determined by senior management, set forth in written, formally announced (published and communicated to all staff and units of the higher education institution. The political goals of the education institution regarding quality are structured by functional and administrative management areas.

  9. Risk and investment management in liberalized electricity markets

    DEFF Research Database (Denmark)

    Lemming, Jacob Kjærgaard

    2005-01-01

    an environment where market participants will face a new set financial of risks comprising elements of competition, physical electricity characteristics and potential political regulatory intervention. On the other side of the market regulators and politicians will face the complex task of designing....... The effect of financial risk on decision making is becoming an increasingly important topic within this eld of electricity economics, due to the significant elements of uncertainty in electricity markets. A primary goal of the thesis is to increase the understanding of how the introduction of competitive...... markets affects the nancial risk related to different decision problems within the areas of risk management and investments in liberalized electricity markets. Focus is on applied microeconomics and analyzes of the interplay between market design parameters and the technical characteristics...

  10. Risk Management in Mergers and Acquisitions

    Directory of Open Access Journals (Sweden)

    Dmitry O. Verdiev

    2015-01-01

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

  11. FISCAL MANAGEMENT IN INDONESIA: THE PERSPECTIVE OF POLITICAL-ECONOMY INFORMATION

    Directory of Open Access Journals (Sweden)

    Agung Darono

    2016-12-01

    Full Text Available Fiscal management is an effort to formulate fiscal policies to be implemented, controlled, and responsible based on the government regulation. For this purpose, fiscal authority undoubtedly needs an adequate support from the country’s financial information. The provision of information for the sake of this fiscal management cannot only be seen as an issue of economic-information which tends to emphasize on the process of information allocation, production, distribution, and consumption as an economic commodity. Using a conceptual framework of political-economy information, the information provision in the context of fiscal management is more of a constellation of various existing economic-information that should be correlated with the involved actors, and comprehensively take into account the surrounding social-political structure. By employing an interpretive policy analysis as the data analysis approach, this study finds that fiscal authority in Indonesia has gradually made a number of efforts to improve the mechanism of the nation’s financial information provision for those who have fiscal management interests, either from income information (tax/non-tax or expenditure information. In some conditions, it is identified that the initiative of information provision for the advantage of fiscal management as well as its implementation requires proper political support.

  12. Best practice of nurse managers in risk management

    Directory of Open Access Journals (Sweden)

    Veridiana Tavares Costa

    2013-09-01

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

  13. Managing financial risk with options on futures.

    Science.gov (United States)

    Bond, M T; Marshall, B S

    1995-05-01

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

  14. Knowledge Management and Politics at the Highest Level: An Exploratory Analysis

    Directory of Open Access Journals (Sweden)

    Eduardo TOMÉ

    2015-06-01

    Full Text Available This paper analyses Knowledge Management (KM as a political activity, made by the great political leaders of the world. We try to examine if at the macro political level KM is made, and how. The research is interesting because given that we live in a Knowledge Society, in the Information Era, it is more or less obvious that the political leaders should also do KM. However we don’t know of any previous study on KM and world leaders and this paper wants to be a first step to fill that gap. As a methodology we use literature review: given this one is a first preliminary study we use data we found online and in databases like EBSCO. We divide the analysis in two main parts: theoretical ideas, and application. In the theoretical part we aim at distinguishing KM as made by managers from KM made by politicians. The second part is itself divided in two segments: the past and the present times; in the second segment we illustrate our ideas with the example of President Barack Obama. We observe, rather surprisingly, how much it has been over-looked by scholars; KM always was and nowadays is pervasive in the activity of the world political leaders. Furthermore, the importance of KM made by world political leaders is so great that it should prompt the making of detailed studies in order to improve the world governance. The study has the limitation of relying on documents, insights and texts, and not on interviews. It should be followed by studies of a more qualitative and participative nature. We believe it would be very interesting to make such studies and that they would help improving the democracies in the 21st century and beyond.

  15. THE ANALYSIS OF RISK MANAGEMENT PROCESS WITHIN MANAGEMENT

    Directory of Open Access Journals (Sweden)

    ROMANESCU MARCEL LAURENTIU

    2016-10-01

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

  16. Managing Risk Areas in Software Development Offshoring

    DEFF Research Database (Denmark)

    Persson, John Stouby; Schlichter, Bjarne Rerup

    2015-01-01

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

  17. CEA - Assessment of risk management for 2012

    International Nuclear Information System (INIS)

    Bonnevie, Edwige

    2013-06-01

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

  18. Risks management in project planning

    OpenAIRE

    Stankevičiūtė, Roberta

    2017-01-01

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

  19. Economic Exposure and Integrated Risk Management

    OpenAIRE

    Miller, Kent D.

    1994-01-01

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

  20. Risk management's role in corporate governance

    OpenAIRE

    Coulson-Thomas, Colin

    2017-01-01

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

  1. Operational risk management in financial institutions

    OpenAIRE

    2014-01-01

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

  2. APPLIED ISSUES ABOUT BANKING RISK MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Elena Geanina Clipici

    2017-09-01

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

  3. RISK MANAGEMENT IN THE ELECTRONIC BUSINESS

    OpenAIRE

    Georgeta Soava

    2016-01-01

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

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

    International Nuclear Information System (INIS)

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

    1997-01-01

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

  5. The total theory about risk management

    International Nuclear Information System (INIS)

    Furuya, Shunsuke

    2003-01-01

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

  6. The Limits of Corporate Social Responsibility: Techniques of Neutralization, Stakeholder Management and Political CSR.

    Science.gov (United States)

    Fooks, Gary; Gilmore, Anna; Collin, Jeff; Holden, Chris; Lee, Kelley

    2013-01-01

    Since scholarly interest in corporate social responsibility (CSR) has primarily focused on the synergies between social and economic performance, our understanding of how (and the conditions under which) companies use CSR to produce policy outcomes that work against public welfare has remained comparatively under-developed. In particular, little is known about how corporate decision-makers privately reconcile the conflicts between public and private interests, even though this is likely to be relevant to understanding the limitations of CSR as a means of aligning business activity with the broader public interest. This study addresses this issue using internal tobacco industry documents to explore British-American Tobacco's (BAT) thinking on CSR and its effects on the company's CSR Programme. The article presents a three-stage model of CSR development, based on Sykes and Matza's theory of techniques of neutralization, which links together: how BAT managers made sense of the company's declining political authority in the mid-1990s; how they subsequently justified the use of CSR as a tool of stakeholder management aimed at diffusing the political impact of public health advocates by breaking up political constituencies working towards evidence-based tobacco regulation; and how CSR works ideologically to shape stakeholders' perceptions of the relative merits of competing approaches to tobacco control. Our analysis has three implications for research and practice. First, it underlines the importance of approaching corporate managers' public comments on CSR critically and situating them in their economic, political and historical contexts. Second, it illustrates the importance of focusing on the political aims and effects of CSR. Third, by showing how CSR practices are used to stymie evidence-based government regulation, the article underlines the importance of highlighting and developing matrices to assess the negative social impacts of CSR.

  7. Understanding the Local Socio-political Processes Affecting Conservation Management Outcomes in Corbett Tiger Reserve, India

    Science.gov (United States)

    Rastogi, Archi; Hickey, Gordon M.; Badola, Ruchi; Hussain, Syed Ainul

    2014-05-01

    Several measures have been recommended to guarantee a sustainable population of tigers: sufficient inviolate spaces for a viable population, sufficient prey populations, trained and skilled manpower to guard against poaching and intrusion, banning trade in tiger products to reduce poaching, and importantly, the political will to precipitate these recommendations into implementation. Of these, the creation of sufficient inviolate spaces (generally in the form of protected areas) has created the most issues with local resource-dependent communities, often resulting in significant challenges for tiger conservation policy and management. Very little empirical research has, however, been done to understand and contextualize the local-level socio-political interactions that may influence the efficacy of tiger conservation in India. In this paper, we present the results of exploratory research into the ways in which local-stakeholder groups affect the management of Corbett Tiger Reserve (CTR). Using a combined grounded theory-case study research design, and the Institutional Analysis and Development framework for analysis, we identify the socio-political processes through which local-stakeholder groups are able to articulate their issues and elicit desirable actions from the management of CTR. Increasing our awareness of these processes can help inform the design and implementation of more effective tiger conservation management and policy strategies that have the potential to create more supportive coalitions of tiger conservation stakeholders at the local level.

  8. Understanding the local socio-political processes affecting conservation management outcomes in Corbett Tiger Reserve, India.

    Science.gov (United States)

    Rastogi, Archi; Hickey, Gordon M; Badola, Ruchi; Hussain, Syed Ainul

    2014-05-01

    Several measures have been recommended to guarantee a sustainable population of tigers: sufficient inviolate spaces for a viable population, sufficient prey populations, trained and skilled manpower to guard against poaching and intrusion, banning trade in tiger products to reduce poaching, and importantly, the political will to precipitate these recommendations into implementation. Of these, the creation of sufficient inviolate spaces (generally in the form of protected areas) has created the most issues with local resource-dependent communities, often resulting in significant challenges for tiger conservation policy and management. Very little empirical research has, however, been done to understand and contextualize the local-level socio-political interactions that may influence the efficacy of tiger conservation in India. In this paper, we present the results of exploratory research into the ways in which local-stakeholder groups affect the management of Corbett Tiger Reserve (CTR). Using a combined grounded theory-case study research design, and the Institutional Analysis and Development framework for analysis, we identify the socio-political processes through which local-stakeholder groups are able to articulate their issues and elicit desirable actions from the management of CTR. Increasing our awareness of these processes can help inform the design and implementation of more effective tiger conservation management and policy strategies that have the potential to create more supportive coalitions of tiger conservation stakeholders at the local level.

  9. A public health framework to translate risk factors related to political violence and war into multi-level preventive interventions

    NARCIS (Netherlands)

    de Jong, J.T.V.M.

    2010-01-01

    Political violence, armed conflicts and human rights violations are produced by a variety of political, economic and socio-cultural factors. Conflicts can be analyzed with an interdisciplinary approach to obtain a global understanding of the relative contribution of risk and protective factors. A

  10. Risk management method for small photovoltaic plants

    Directory of Open Access Journals (Sweden)

    Kirova Milena

    2016-09-01

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

  11. Role of NDT in risk management

    International Nuclear Information System (INIS)

    Porter, Jr. James F.

    2009-01-01

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

  12. Risk Management and Uncertainty in Infrastructure Projects

    DEFF Research Database (Denmark)

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

    2014-01-01

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

  13. Risk management in a competitive electricity market

    International Nuclear Information System (INIS)

    Liu, Min; Wu, Felix F.

    2007-01-01

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

  14. Managing IT Integration Risk in Acquisitions

    DEFF Research Database (Denmark)

    Henningsson, Stefan; Kettinger, William J.

    2016-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Grzegorz MICHALSKI

    2008-12-01

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

  16. Strategic Management and the Politics of Production in the Development of Work

    DEFF Research Database (Denmark)

    Olsén, Peter; Clausen, Christian

    2000-01-01

    of the organization—referred to here as the social constitution of the company—contribute to the creation of profound, ambivalent attitudes among management as well as workers towards more fundamental changes of work content and organization. Finally, the implications for strategic management for the development......After presenting diÚ erent conceptions of work politics in industrial sociology and sociology of organization, the authors argue that changes in work and technology, and hence the politics of work, may be better comprehended through a concept of the social constitution of the company. Subsequently......, this concept is used as a theoretical and methodological basis for an in-depth case study of the processes of social change connected with the introduction of semi-autonomous working groups in a Danish electronic manufacturing plant. It is shown that the historically developed norms and culture...

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

    DEFF Research Database (Denmark)

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

    2018-01-01

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

  18. Model risk analysis for risk management and option pricing

    NARCIS (Netherlands)

    Kerkhof, F.L.J.

    2003-01-01

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

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

    Science.gov (United States)

    Rehman, Zobia; Kifor, Claudiu V.

    2015-09-01

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

  20. Managing Actuaries\\' Professional Risk | Lowther | South African ...

    African Journals Online (AJOL)

    This paper describes a new concept, of vital importance to actuaries, which the authors have named \\'managing actuaries\\' professional risk\\'. Much has been written on the constituent elements of legal causation, risk management, indemnity insurance and professional conduct standards. This paper envisages an ...

  1. Large dams and risk management

    International Nuclear Information System (INIS)

    Cazelais, N.

    2003-01-01

    In July 1996, Quebec's Saguenay region was subjected to intensive rainfall which caused severe floods and uncontrolled release of several reservoirs, resulting in extensive damage to dam structures and reservoirs. The probability of occurrence for that disaster was 1:10,000. Following the disaster, the Quebec government established a dam management body entitled the Commission scientifique et technique sur la gestion des barrages, which pointed out several safety shortcomings of existing dams. Many were either very old or had undergone significant function change without being subsequently re-evaluated. A report by the Commission stated that damage following the floods could have been limited if the design and operating standards of the dams had been more stringent. A Dam Safety Act was adopted by the Quebec National Assembly on May 30, 2000 following recommendations to retain safer structures. The Act demands regular reporting of operating procedures. Seismic activity was noted as being a topic that requires in-depth examination since Quebec's St. Lawrence Valley, particularly the Charlevoix region, is one of Canada's largest seismic zones. The other is on the west coast in British Columbia. Earthquakes in Quebec are less intense than the ones in British Columbia, but they have higher frequency content which exerts a quasi-resonance wave effect which impacts roads, bridges, buildings and hydroelectric generating facilities. Hydro-Quebec is a public utility which owns 563 retaining structures, of which 228 are ranked as large dams that measure more than 15 metres high, 400 metres long and with a reservoir capacity of more than 1 million cubic metres of water. Hydro-Quebec addresses hydrological, seismic, technological and human risks through a dam safety procedure that includes structured plans for choosing best alternatives through staged exercises. Hazard levels are minimized through the adoption of emergency, prevention and alleviation measures. The utility

  2. RISK MANAGEMENT PROCESSES IN SUPPLY CHAINS

    Directory of Open Access Journals (Sweden)

    Aleksandar Aleksić

    2009-06-01

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

  3. Strategic Risk Management and Corporate Value Creation

    DEFF Research Database (Denmark)

    Andersen, Torben Juul; Roggi, Oliviero

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

  4. Depoliticising the political: Market solutions and the retreat of Swedish institutional drug treatment from state management.

    Science.gov (United States)

    Edman, Johan

    2016-06-01

    This article examines developments in the Swedish drug treatment services in 1982-2000 and explores the ways in which political initiatives and the state administration's management have contributed to the major privatisations of institutional drug treatment during this period. The empirical basis for the textual analysis lies in official reports, parliamentary material and archived records from the Stockholm County Administrative Board's management of treatment facilities. The major privatisations of drug treatment services in the 1980s were both unintentional and unwanted and mainly arose from a lack of bureaucratic control and ideological anchorage. The privatisations were, however, reinforced by ideologically driven NPM-oriented political initiatives in the 1990s. The market-oriented treatment services have failed to fulfil the needs for diversity and availability within a publicly financed sector, which deals with unevenly informed and often socio-economically weak citizens. New management models in this field must ensure that ideological considerations are taken into account to meet politically decided goals and means. Copyright © 2016 Elsevier B.V. All rights reserved.

  5. Risk, innovation and change : design propositions for implementing risk management in organizations

    NARCIS (Netherlands)

    van Staveren, Martinus Theodorus

    2009-01-01

    This Ph.D. research generated unique design propositions for implementing existing risk management methodologies in organizations. The resulting design propositions incorporate a synthesis of risk management, innovation management and change management. True implementation of risk management is

  6. Decisionmaking under risk in invasive species management: risk management theory and applications

    Science.gov (United States)

    Shefali V. Mehta; Robert G. Haight; Frances R. Homans

    2010-01-01

    Invasive species management is closely entwined with the assessment and management of risk that arises from the inherently random nature of the invasion process. The theory and application of risk management for invasive species with an economic perspective is reviewed in this synthesis. Invasive species management can be delineated into three general categories:...

  7. Internal audit risk management in metropolitan municipalities

    Directory of Open Access Journals (Sweden)

    Christo Ackermann

    2016-07-01

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

  8. Risk assessment and management logistics chains

    Directory of Open Access Journals (Sweden)

    Vladimir Vikulov

    2014-03-01

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

  9. Risk Management as Part of Crisis Management Tasks

    Directory of Open Access Journals (Sweden)

    Skomra Witold

    2017-02-01

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

  10. Desertification risk assessment and management program

    OpenAIRE

    M. Akbari; M. Ownegh; H.R. Asgari; A. Sadoddin; H. Khosravi

    2016-01-01

    Risk assessment provides the possibility of planning and management to prevent and reduce the risk of desertification. The present study is aimed to assess the hazard and risk of desertification and to develop management programs in the semi-arid western regions of Golestan Province in Iran. Desertification rate was obtained using the Iranian model of desertification potential assessment. Since the rating system was considered for the indicators, data analyses were carried out according to th...

  11. Project risk management in complex petrochemical system

    Directory of Open Access Journals (Sweden)

    Kirin Snežana

    2012-01-01

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

  12. Systems approach to project risk management

    Energy Technology Data Exchange (ETDEWEB)

    Kindinger, J. P. (John P.)

    2002-01-01

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

  13. RISKS MANAGEMENT. A PROPENSITY SCORE APPLICATION

    Directory of Open Access Journals (Sweden)

    Constangioara Alexandru

    2008-05-01

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

  14. Risks in hospitals. Assessment and Management

    Directory of Open Access Journals (Sweden)

    Bradea Ioana-Alexandra

    2014-12-01

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

  15. Managing the risk of injury in sport.

    Science.gov (United States)

    Fuller, Colin W

    2007-05-01

    Because the risk of injury in many sports is high, governing bodies and individuals involved with these sports have a responsibility to manage the risks at acceptable levels. Risk management provides a structured framework within which risks can be identified, evaluated, assessed, and controlled through appropriate mitigation strategies. Exploring inferences obtained from the relationship between risk and the incidence and severity of injury contributes to the understanding and control of risks in sport. Studies related to intrinsic and extrinsic risk factors should be focused on determining which factors cause an athlete's risk level to fall within the high-risk or low-risk regions of the population's risk distribution. Risk values can be used to derive risk contours, which illustrate the interdependence of incidence and severity on the development of effective risk mitigation strategies. The wide variation in the levels of risk across different sports is used to demonstrate the impact that athletes' perception and acceptance of risk have on their choice of sport. Finally, the use of incidence and severity data for predicting the prevalence of injury in a team and for the economic evaluation of intervention programmes is discussed.

  16. Disaster Risk Management - The Kenyan Challenge

    Science.gov (United States)

    Nabutola, W.; Scheer, S.

    2009-04-01

    Keywords: natural disasters; man-made disasters; terrorist attacks; land slides; disaster policies and legislations; fire; earthquakes; hurricanes; soil erosion; disaster research policy; Preamble: "Risk does not begin and end on the floor of the New York Stock Exchange. The vastness of the subject matter is daunting. Risk touches on the most profound aspects of psychology, mathematics, statistics and history. The literature is monumental; each day's headlines bring many new items of interest. But I know we are not unique, everywhere in the world risks abound." "AGAINST THE GODS the remarkable story of risk" by Peter L. Bernstein, 1998 The real challenge is what can we, as a nation do to avert, prevent them, or in the unfortunate event that they occur, how can we mitigate their impact on the economy? Introductory remarks: Disaster in Kenya, as indeed anywhere else, is not one of those happenings we can wish away. It can strike anywhere any time. Some of it is man-made but most of it is natural. The natural are sometimes induced by man in one way or another. For example, when we harvest trees without replacing them, this diminishes the forest cover and can lead to soil erosion, whose advanced form is land slides. Either way disasters in their different forms and sizes present challenges to the way we live our lives or not, perhaps, even how we die. Disasters in our country have reached crisis stage. ‘In Chinese language, crisis means danger, but it also means opportunity' Les Brown, motivational speaker in "the power of a larger vision" Why I am interested Whereas Kenya experiences man made and natural disasters, there are more sinister challenges of the man-made variety. These loom on the horizon and, from time to time raise their ugly heads, taking many Kenyan lives in their wake, and property destroyed. These are post election violence and terrorist attacks, both related to politics, internal and external. In January 2008, soon after presidential and national

  17. Disaster Risk Management - The Kenyan Challenges

    Science.gov (United States)

    Nabutola, W.

    2009-04-01

    Keywords: natural disasters; man-made disasters; terrorist attacks; land slides; disaster policies and legislations; fire; earthquakes; hurricanes; soil erosion; disaster research policy; Preamble: "Risk does not begin and end on the floor of the New York Stock Exchange. The vastness of the subject matter is daunting. Risk touches on the most profound aspects of psychology, mathematics, statistics and history. The literature is monumental; each day's headlines bring many new items of interest. But I know we are not unique, everywhere in the world risks abound." "AGAINST THE GODS the remarkable story of risk" by Peter L. Bernstein, 1998 The real challenge is what can we, as a nation do to avert, prevent them, or in the unfortunate event that they occur, how can we mitigate their impact on the economy? Introductory remarks: Disaster in Kenya, as indeed anywhere else, is not one of those happenings we can wish away. It can strike anywhere any time. Some of it is man-made but most of it is natural. The natural are sometimes induced by man in one way or another. For example, when we harvest trees without replacing them, this diminishes the forest cover and can lead to soil erosion, whose advanced form is land slides. Either way disasters in their different forms and sizes present challenges to the way we live our lives or not, perhaps, even how we die. Disasters in our country have reached crisis stage. ‘In Chinese language, crisis means danger, but it also means opportunity' Les Brown, motivational speaker in "the power of a larger vision" Why I am interested Whereas Kenya experiences man made and natural disasters, there are more sinister challenges of the man-made variety. These loom on the horizon and, from time to time raise their ugly heads, taking many Kenyan lives in their wake, and property destroyed. These are post election violence and terrorist attacks, both related to politics, internal and external. In January 2008, soon after presidential and national

  18. Risk Management by a Neoliberal State: Construction of New Knowledge through Lifelong Learning in Japan

    Science.gov (United States)

    Ogawa, Akihiro

    2013-01-01

    This article examines the current developments in Japan's lifelong learning policy and practices. I argue that promoting lifelong learning is an action that manages the risks of governance for the neoliberal state. Implementing a new lifelong learning policy involves the employment of a political technique toward integrating the currently divided…

  19. Risk Management and Risk Psychology in Romanian Sme’s

    Directory of Open Access Journals (Sweden)

    Irina Dănciulescu

    2015-12-01

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

  20. 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.

  1. 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.

  2. Public and political issues in radioactive waste management in the Federal Republic of Germany

    International Nuclear Information System (INIS)

    Neis, A.

    1993-01-01

    The Federal Government's radioactive waste management concept and regulations governing formal public participation in licensing procedures for radioactive waste management facilities are presented. The paper focuses on public and political issues arising from widely diverging views in different social groups on nuclear energy and on radioactive waste management. The resulting conflict between Federal and Laender (Federal constituent states) authorities and the actual course of public participation in a licensing procedure are illustrated with the example of planned final disposal of radioactive waste in the Konrad mine. Major national efforts to overcome the unsatisfying present situation are presented and the role of international consensus is briefly touched. Concluding remarks will particularly justify admissibility and emphasize the need to discuss and eventually decide on radioactive waste management issues regardless of diverging views on nuclear energy

  3. FINANCIAL RISK MANAGEMENT IN TRADE BANKS

    Directory of Open Access Journals (Sweden)

    Ms. Tamara Ye. Kononenko

    2016-09-01

    Full Text Available The paper clarifies the concepts of «risk», «financial risk» in banking business, and considers the main problems of financial risk management in trade banks while financing borrowers. The authors single out the most relevant problems, and conduct the analysis of overdue payment in case of OJSC “Sberbank of Russia”. The authors also offer a number of measures to minimize financial risks in trade bank activities in modern conditions.

  4. Individual Risk Management for Digital Payment Systems

    OpenAIRE

    M. Reichenbach; T. Grzebiela; T. Koltzsch; I. Pippow

    2002-01-01

    Despite existing security standards and security technologies, such as secure hardware, gaps between users’ demand for security and the security offered by a payment system can still remain. These security gaps imply risks for users. In this paper, we introduce a framework for the management of those risks. As a result, we present an instrument enabling users to evaluate eventual risks related with digital payment systems and to handle these risks with technical and economic instruments.

  5. Quality Risk Management of Compliant Excipients

    Directory of Open Access Journals (Sweden)

    Brian Carlin

    2012-12-01

    Full Text Available Raw material compliance and GMP do not eliminate variability. Quality by Design should minimize the risk that raw material variability will adversely affect the finished product Critical Quality Attributes. The sources of technological risk from excipients are reviewed and approaches to excipient risk management are discussed. Supplier involvement throughout the product life-cycle is recommended to minimize excipient-related risk.

  6. Sustainable Risk Management in the Banking Sector

    Directory of Open Access Journals (Sweden)

    Županović Ivo

    2014-01-01

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

  7. Intentional risk management through complex networks analysis

    CERN Document Server

    Chapela, Victor; Moral, Santiago; Romance, Miguel

    2015-01-01

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

  8. Risk Management in Biologics Technology Transfer.

    Science.gov (United States)

    Toso, Robert; Tsang, Jonathan; Xie, Jasmina; Hohwald, Stephen; Bain, David; Willison-Parry, Derek

    Technology transfer of biological products is a complex process that is important for product commercialization. To achieve a successful technology transfer, the risks that arise from changes throughout the project must be managed. Iterative risk analysis and mitigation tools can be used to both evaluate and reduce risk. The technology transfer stage gate model is used as an example tool to help manage risks derived from both designed process change and unplanned changes that arise due to unforeseen circumstances. The strategy of risk assessment for a change can be tailored to the type of change. In addition, a cross-functional team and centralized documentation helps maximize risk management efficiency to achieve a successful technology transfer. © PDA, Inc. 2016.

  9. Risk management and safety culture

    International Nuclear Information System (INIS)

    Takano, K.

    2007-01-01

    Paper informs on the efforts to elaborate a feedback system for risk comprehensive evaluation and a system to improve structure safety foreseeing the possibility to control the latent risk, ensuring the qualitative evaluation of the safety level and improvement of safety culture in various branches of industry, first and foremost, in the electricity producing sector including the nuclear power industry [ru

  10. Managers facing the climatic risks

    International Nuclear Information System (INIS)

    2003-01-01

    This colloquium aimed to analyze the relations between the climatic changes and extreme meteorological events and on the associated risks. It provides information and knowledge on the state of the art concerning the today scientific knowledge, the prevention measures and the adaptation facing the risks and the difficult estimation of the climatic damages costs. (A.L.B.)

  11. PUBLIC RELATIONS IN PUBLIC ADMINISTRATION: ROLE AND MANAGEMENT, IN A SOCIO-POLITICAL MARKETING CONTEXT

    Directory of Open Access Journals (Sweden)

    Dorian Pocovnicu

    2014-07-01

    Full Text Available Many agree that PR and marketing are at their best when used together, when it comes to local public administration institutions there is the need for both an individual and symbiotic approach of the two. Taking into consideration that public interest organizations act within public space, PR represents a public communication strategy. Thus they present the role of generating a climate and state of social normality and, especially in democratic societies, PR plays the part of generator of communication flows between public institutions, citizens and stakeholders. In a social-political marketing context, envisaged as an aggregate of processes, with a multiple purpose, the generator which is PR must unfold coherently for each of the processes. It is our purpose in this paper to depict the PR role and management in the case of one local public administration institution (Bacau Prefect Institution, in a socio-political marketing context.

  12. Credit risk management in the power sector

    International Nuclear Information System (INIS)

    Allen, D.

    2002-01-01

    Deregulation of the electric power industry has the potential to put power businesses at market risk particularly when the value of an asset or liability will change with market movements. Market risk gives rise to credit risk where a contract cannot be fulfilled. This presentation describes how credit risks can be identified and measured. Most practitioners use some variant of value-at-risk (VAR) technology for measuring market risk. Under this approach, risk is determined by the volatility implied by the market. Volatility of electricity prices and natural gas prices has increased significantly in Alberta in recent years. The consequence is an increase in both market and credit risk. The author described the difference between the two risks and their significance. An overview of credit risk management with derivatives, an over-the counter contract, was also presented. The author also discusses issue of protection buyers in the event of a failed contract. 9 figs

  13. Practical Risk Management for the CIO

    CERN Document Server

    Scherling, Mark

    2007-01-01

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

  14. Practical Methods for Information Security Risk Management

    Directory of Open Access Journals (Sweden)

    Cristian AMANCEI

    2011-01-01

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

  15. Social Risk and the Management of MNCs

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    2015-01-01

    Multinational companies (MNCs) are increasing being exposed to risk that originate from local communities in the business environment where they operate. The response has been to implement systems for stakeholder engagement by including social issues into their risk management systems. However, t...... practices, operationalised through Corporate Social Responsibility (CSR) systems, with communication theory and risk as frames of meaning constructed by community members and corporate decision makers.......Multinational companies (MNCs) are increasing being exposed to risk that originate from local communities in the business environment where they operate. The response has been to implement systems for stakeholder engagement by including social issues into their risk management systems. However......, these seem to be ineffective in mitigating local community grievances. In this paper I argue that social risk is to be defined in terms of how local stakeholders construct reality through a sensemaking and framing process which constitute at risk by its combined capability to influence organisational value...

  16. Characteristics of Managing Operational Banking Risk

    Directory of Open Access Journals (Sweden)

    Adela Socol

    2008-12-01

    Full Text Available The objective of this paper is to provide a global perspective of the operational risk from a banking societies’ viewpoint. We describe the main regulations and settlements in the field and examine the various approaches of the operational banking risk. The paper presents the need of banks to managing operational risk. We study comparatively for a banking society the capital charge for covering the operational risk under the basic indicator approach and under the standardized approach. We present a case study of implementing current capital requirements at the level of a Romanian banking society. From the theoretical approach and from the description of quantifying of operational banking risk, the results of this study insist on the importance of measuring of operational banking risk and identifies major issues that need to be considered to improve the managing operational banking risk.

  17. Managing risk in statistics - "Relative risk" | Durrheim | South African ...

    African Journals Online (AJOL)

    South African Family Practice. Journal Home · ABOUT THIS JOURNAL · Advanced Search · Current Issue · Archives · Journal Home > Vol 45, No 8 (2003) >. Log in or Register to get access to full text downloads. Username, Password, Remember me, or Register. Managing risk in statistics - "Relative risk". DN Durrheim ...

  18. RISK MANAGEMENT IN LENDING INSTITUTIONS IN THE CONTEXT OF ECONOMIC GLOBALIZATION

    Directory of Open Access Journals (Sweden)

    BOGHEAN FLORIN

    2014-05-01

    Full Text Available The Romanian companies are nowadays facing process of extinction of decisions based on risk and uncertainty, as a consequence of the permanent transforming process of the economy and because of the privatization, restructuring and globalization activities. The main forms of risk are can be grouped in eight categories: economical risks, financial risks, commercial risks, manufacturing risks, political risks, social risks, juridical risks, natural risks. Through its nature the decision is referring to the future, mainly being provisional. In any decisional process developed at the company level, there are involved in the same time some economical, techniques, juridical, human and managerial variables. The economic recession generated by the chaos affecting financial systems has profoundly distressed the public, business circles and political leaders. The crisis has inexorably had negative effects on global economic growth and will have political, strategic and social consequences as well. The contents of this paper encompasses theoretical and practical aspects, quantitative and qualitative analyses, all aimed at identifying, analysing and controlling bank risks and, last but not least, at managing these risks.

  19. Political Ecology

    OpenAIRE

    DeFriez, Joshua; Larsen, Justine; Hilton, Nicholas

    2014-01-01

    Environmental legislation is commonly accepted as an altruistic approach to land management. A closer examination however, reveals that political incentives and flawed arguments consistently shape U.S. environmental policy at high public costs. As student fellows at the Institute of Political Economy at Utah State University, we have had the opportunity to research this subject under the direction of Professor Randy Simmons. Political Ecology is his upcoming book that explores a variety of en...

  20. Managing risks in the project pipeline.

    Science.gov (United States)

    2013-08-01

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

  1. Risk management integration into complex project organizations

    Science.gov (United States)

    Fisher, K.; Greanias, G.; Rose, J.; Dumas, R.

    2002-01-01

    This paper describes the approach used in designing and adapting the SIRTF prototype, discusses some of the lessons learned in developing the SIRTF prototype, and explains the adaptability of the risk management database to varying levels project complexity.

  2. COMPUTERIZED MODEL OF RISK MANAGEMENT IN BUSINESS

    Directory of Open Access Journals (Sweden)

    Petrişor MANDU

    2011-01-01

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

  3. [Risk management from the judicial perspective].

    Science.gov (United States)

    Ulsenheimer, Klaus

    2003-11-01

    The jurisdification of medicine is an unstoppable force that finds its visible expression in a medical liability boom which--apart from the negative impact of legal and out-of-court proceedings on the bond of the doctor-patient relationship--bears considerable economic disadvantages for the providers of care. It is therefore necessary to fight in particular the legally influenced causes of medical liability for which risk management seems to be a suitable, effective tool. As the examples taken from the jurisdiction in the organisational sector will demonstrate, risk management pinpoints the sources of trouble so that we are able to learn from current errors and provide appropriate remedies for the future. Risk management, though, is not a "unique event", but a dynamic, repetitive process that has to be institutionally secured by appointing a risk manager so that the proposals discussed, recommendations and essential measures can actually be implemented.

  4. Small Business and the Risk Management Program

    Science.gov (United States)

    This factsheet helps small businesses comply with the regulation requiring companies that use regulated substances, hazardous chemical such as ammonia and chlorine, to develop a risk management plan, to help prevent accidental toxic or flammable releases.

  5. Roadway related tort liability and risk management.

    Science.gov (United States)

    2010-06-01

    This workbook provide government employees background information related to tort liability and risk management. Past experience with lawsuits against government entities are summarized. The reasons for the lawsuits and results are analyzed. The obje...

  6. Wildfire Risk Management: Challenges and Opportunities

    Science.gov (United States)

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

    2014-12-01

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

  7. RISK MANAGEMENT IN THE ELECTRONIC BUSINESS

    Directory of Open Access Journals (Sweden)

    Georgeta Soava

    2016-12-01

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

  8. Radiation risk management at DOE accelerator facilities

    International Nuclear Information System (INIS)

    Dyck, O.B. van.

    1997-01-01

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

  9. Decision support for utility environmental risk management

    International Nuclear Information System (INIS)

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

    1991-01-01

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

  10. COMPUTERIZED MODEL OF RISK MANAGEMENT IN BUSINESS

    OpenAIRE

    Petrişor MANDU

    2011-01-01

    The occurrence of risk situation and the manager’s awareness of it are serious threats for the organization and its objectives. Consequently, the manager has to have available, analyze, select and interpret many pieces of information, under stress, before making a decision for avoiding a disaster. Under these circumstances, a computerized model of risk management is the most adequate solution to make the intervention possibilities effective through a quicker and more accurate intervention. Th...

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

    CERN Document Server

    Hopkin, Paul

    2012-01-01

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

  12. Risk management in waste water treatment.

    Science.gov (United States)

    Wagner, M; Strube, I

    2005-01-01

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

  13. Aligning records management and risk management with business ...

    African Journals Online (AJOL)

    This paper is a synopsis of the preliminary findings of a Master of Philosophy Degree in In-formation Sciences which sought to investigate the alignment of risk management and re-cords management with business processes in Moi University with a view to proposing a strategy to enhance business performance. The study ...

  14. Water Diplomacy: A Synthesis of Science, Policy and Politics for Water Management

    Science.gov (United States)

    Islam, S.; Susskind, L. E.

    2011-12-01

    While efforts to theorize about water systems have been vast, the traditional tools and techniques available to water managers have led to science that is "smart but not wise". Integration of "scientific learning" with "the complex political reality" of real-world water problem-solving remains desirable but an elusive goal. Yet, solutions to most real-world water problems demand such integration. The professionals who attempt to solve water problems cannot easily translate solutions born out of scientific findings into the messy context of the real world, where societal and political aspects are important. The solutions to water problems lie somewhere within these realms of knowledge, and effective solutions require bridging the divide between theory and practice. To bridge this divide and address complex water problems - where natural, societal, and political elements cross multiple boundaries and interact in unbounded, uncertain and nonlinear way - a new approach is needed. This new approach - called Water Diplomacy - is rooted in emerging ideas of complexity theory and multi-party negotiation. The Water Diplomacy Framework (WDF) posits that water resources might be more effectively managed if we focus in a different way on dominant societal and natural elements. In addition, WDF challenges traditional water management paradigm by invoking three key propositions: (a) water is not a fixed but a flexible resource; (b) water networks are open and continuously changing, not bounded and predictable; and (c) disagreements over water rights and the allocation of water need not be framed as zero-sum confrontations that most game theorists presume; instead they can be viewed as problem-solving opportunities in which additional value can be created to meaningfully address interests for all stakeholders.

  15. The Political Economy of Cross-Scale Networks in Resource Co-Management

    Directory of Open Access Journals (Sweden)

    W. Neil Adger

    2005-12-01

    Full Text Available We investigate linkages between stakeholders in resource management that occur at different spatial and institutional levels and identify the winners and losers in such interactions. So-called cross-scale interactions emerge because of the benefits to individual stakeholder groups in undertaking them or the high costs of not undertaking them. Hence there are uneven gains from cross-scale interactions that are themselves an integral part of social-ecological system governance. The political economy framework outlined here suggests that the determinants of the emergence of cross-scale interactions are the exercise of relative power between stakeholders and their costs of accessing and creating linkages. Cross-scale interactions by powerful stakeholders have the potential to undermine trust in resource management arrangements. If government regulators, for example, mobilize information and resources from cross-level interactions to reinforce their authority, this often disempowers other stakeholders such as resource users. Offsetting such impacts, some cross-scale interactions can be empowering for local level user groups in creating social and political capital. These issues are illustrated with observations on resource management in a marine protected area in Tobago in the Caribbean. The case study demonstrates that the structure of the cross-scale interplay, in terms of relative winners and losers, determines its contribution to the resilience of social-ecological systems.

  16. Managing the risk of outsourcing the IT function at companies

    Directory of Open Access Journals (Sweden)

    Louise van Scheers

    2016-08-01

    Full Text Available The main objective for this secondary research is to determine whether the risk of outsourcing the IT function can be managed. Driven by political and economic dynamic changes, facilities management was borne to enable reacting to change. Doing business in today’s global economy requires exceptional skills from management in order to be competitive and to have a specific competitive advantage over competitors are getting even more demanding. One of the widest used methods of facilities management deployed by organisations is that of outsourcing in various forms (i.e. I.T., H.R., Distribution, Warehousing, etc. for various different reasons (i.e. reduce costs, improve quality, focus on core business, etc.. In order for outsourcing to be successful, it needs to add benefits to profits, efficiency or effectiveness ethic. Outsourcing assists management to gain a competitive advantage over competitors within their specific industries as part of their organizational strategies and developing or strengthening core competencies at the same time. Global outsourcing on the other hand leads to controversy inasmuch as it reduces home-country economic activity and employment. The consulted secondary resources confirm that if outsourcing delivers managers can take calculated decisions to use it in their businesses. The future of outsourcing is promising as non-core functions of businesses may rather be outsourced to save on costs. A broad set of new and alternative IT delivery models are already main stream. These models receive attention because of benign economic market conditions

  17. Management of interest rate risk

    Directory of Open Access Journals (Sweden)

    Šabović Šerif

    2014-01-01

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

  18. Self-management of vascular risk factors

    NARCIS (Netherlands)

    Sol-de Rijk, B.G.M.

    2009-01-01

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

  19. Research Award: Risk Management and Internal Audit

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

    Corey Piccioni

    2013-08-07

    Aug 7, 2013 ... manage research; and. • idenfying competencies, key success factors or performance indicators most crical to research instuons. In addion to their research project, the RMIA Research Awardee will be involved in a range of acvies to contribute to the ongoing program of risk management and internal audit ...

  20. Risk management and oil trading contracts

    International Nuclear Information System (INIS)

    Sas, B.

    1992-01-01

    The oil market provides an excellent case study for an analysis of the commodity trading risks and the development of contractual instruments and market structures to meet these risks. The paper identifies the main risks, namely performance, credit/payment, price, regulatory, fiscal, and ''trading'' risk. A conceptual framework provides the basis to trace the evolution of the risk management instruments from relational (e.g. long-term), through ''transactional'' (e.g. spot and forwards) to ''institutional'' (e.g. futures and options) and finally ''pricing'' (e.g. swaps and trigger pricing) contracts. (author)

  1. Lessons Learned in Risk Management on NCSX

    International Nuclear Information System (INIS)

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

    2010-01-01

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

  2. Lessons Learned in Risk Management on NCSX

    International Nuclear Information System (INIS)

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

    2009-01-01

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

  3. A Risk Management Process for Consumers

    NARCIS (Netherlands)

    van Cleeff, A.

    2010-01-01

    Simply by using information technology, consumers expose themselves to considerable security risks. Because no technical or legal solutions are readily available, the only remedy is to develop a risk management process for consumers, similar to the process executed by enterprises. Consumers need to

  4. Board of directors and risk management

    NARCIS (Netherlands)

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

    2013-01-01

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

  5. Risk management, derivatives and shariah compliance

    Science.gov (United States)

    Bacha, Obiyathulla Ismath

    2013-04-01

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

  6. The NASA Continuous Risk Management Process

    Science.gov (United States)

    Pokorny, Frank M.

    2004-01-01

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

  7. Environmental carcinogenic agents and cancer prevention. Risk assessment and management

    International Nuclear Information System (INIS)

    Tsugane, Shoichiro

    2013-01-01

    Many agents in our environment have been established as being carcinogenic, and in most cases, the carcinogenic properties of these agents were identified because of high-dose occupational or accidental exposure. Risk characterization, taking into account the dose-response relationship, and exposure assessment are essential for risk assessment and subsequent cancer prevention. Based on scientific risk assessment, risk management should be conducted practically by considering the economic, social, political, and other technical issues and by balancing the risks and benefits. Asbestos and environmental tobacco smoke are typical examples of established carcinogenic agents in the general environment, contributing to low-dose exposure. Further epidemiological studies are required to investigate the carcinogenicity of low-dose exposure to known carcinogenic agents such as arsenic and cadmium through dietary intake, radiation via medical and natural exposure, and air pollution due to diesel exhaust. In contrast, occupational chemical exposure to 1,2-dichloropropane and/or dichloromethane, whose carcinogenicity had not been established, was suggested to cause cholangiocarcinoma among workers involved in offset color proof-printing only after a rare situation of high-dose exposure was unveiled. Continuous monitoring of unusual cancer occurrences in target populations such as workers in occupational and regional settings as well as exposure reduction to suspected carcinogenic agents to levels as low as reasonably achievable is essential for reducing the risk of cancer due to environmental carcinogens. (author)

  8. ‘Only a pawn in their game’: crime, risk and politics in the case of Robert Fardon

    Directory of Open Access Journals (Sweden)

    Russell Hogg

    2014-12-01

    Full Text Available In 2003 Robert Fardon was the first prisoner to be detained under the Dangerous Prisoners (Sexual Offenders Act 2003 (Qld, the first of the new generation preventive detention laws enacted in Australia and directed at keeping sex offenders in prison or under supervision beyond the expiry of their sentences where a court decides, on the basis of psychiatric assessments, that unconditional release would create an unacceptable risk to the community. A careful examination of Fardon’s case shows the extent to which the administration of the regime was from the outset governed by politics and political calculation rather than the logic of risk management and community protection. In 2003 Robert Fardon was the first person detained under the Dangerous Prisoners (Sexual Offenders Act 2003 (Qld (hereafter DPSOA, a newly enacted Queensland law aimed at the preventive detention of sex offenders. It was the first of a new generation of such laws introduced in Australia, now also in force in NSW, Western Australia and Victoria. The laws have been widely criticized by lawyers, academics and others (Keyzer and McSherry 2009; Edgely 2007. In this article I want to focus on the details of how the Queensland law was administered in Fardon’s case, he being perhaps the most well-known prisoner detained under such laws and certainly the longest held. It will show, I hope, that seemingly abstract rule of law principles invoked by other critics are not simply abstract: they afford a crucial practical safeguard against the corruption of criminal justice in which the ends both of community protection and of justice give way to opportunistic exploitation of ‘the mythic resonance of crime and punishment for electoral purposes’ (Scheingold 1998: 888.

  9. Politics and scientific expertise: Scientists, risk perception, and nuclear waste policy

    International Nuclear Information System (INIS)

    Barke, R.P.; Jenkins-Smith, H.C.

    1993-01-01

    To study the homogeneity and influences on scientists' perspectives of environmental risks, the authors have examined similarities and differences in risk perceptions, particularly regarding nuclear wastes, and policy preferences among 1011 scientists and engineers. Significant differences (p<0.05) were found in the patterns of beliefs among scientists from different fields of research. In contrast to physicists, chemists, and engineers, life scientists tend to: (a) perceive the greatest risks from nuclear energy and nuclear waste management; (b) perceive higher levels of overall environmental risk; (c) strongly oppose imposing risks on unconsenting individuals; and (d) prefer stronger requirements for environmental management. On some issues related to priorities among public problems and calls for government action, there are significant variations among life scientists or physical scientists. It was also found that-independently of field of research-perceptions of risk and its correlates are significantly associated with the type of institution in which the scientist is employed. Scientists in universities or state and local governments tend to see the risks of nuclear energy and wastes as greater than scientists who work as business consultants, for federal organizations, or for private research laboratories. Significant differences also are found in priority given to environmental risks, the perceived proximity of environmental disaster, willingness to impose risks on an unconsenting population, and the necessity of accepting risks and sacrifices. 33 refs., 3 figs., 9 tabs

  10. Methodology of environmental risk assessment management

    Directory of Open Access Journals (Sweden)

    Saša T. Bakrač

    2012-04-01

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

  11. Interplanetary Supply Chain Risk Management

    Science.gov (United States)

    Galluzzi, Michael C.

    2018-01-01

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

  12. Process-based project proposal risk management

    Directory of Open Access Journals (Sweden)

    Alok Kumar

    2016-12-01

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

  13. Integrating Agricultural Risks Management Strategies in selected EU Partner Countries: Syria, Tunisia, Turkey

    OpenAIRE

    Santeramo, Fabio Gaetano; Capitanio, Fabian; Adinolfi, Felice

    2014-01-01

    Dynamics and transitions in the agricultural sector of emerging countries are not well understood yet. A decade of major political and economic changes is challenging the Mediterranean Economies, affecting the primary sectors of transition economies which are largely influenced by recent trends. The resulting exposure of agriculture to risks has called great attention on risk management strategies and public intervention. We explore their role in three different economies with a view to a uni...

  14. Information needs for risk management/communication

    Energy Technology Data Exchange (ETDEWEB)

    Bennett, D.A. [Environmental Protection Agency, Washington, DC (United States)

    1990-12-31

    The hazardous waste cleanup program under the Comprehensive Environmental Response, Compensation, and Liability Act (Superfund) is delegated to the ten Regions of the US Environmental Protection Agency (EPA) and has, to date, identified more than 33,000 sites for consideration. The size and complexity of the program places great demands on those who would provide information to achieve national consistency in application of risk assessment while meeting site-specific needs for risk management and risk communication.

  15. COORDINATES OF A RISK MANAGEMENT PROJECT

    Directory of Open Access Journals (Sweden)

    ALEXANDRU OLTEANU

    2013-05-01

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

  16. Comparisons on International Approaches of Business and Project Risk Management

    OpenAIRE

    Nadia Carmen ENE

    2005-01-01

    In this article we intend to present a comparative approach between three recognized international methodologies for risk management: RISKMAN, Project Management Institute Methodology-PMBoK and Project Risk Analysis and Management Guide (produced by Association for Project Management).

  17. Political changes and trends in cardiovascular risk factors in the Czech Republic, 1985-92.

    Science.gov (United States)

    Bobak, M; Skodova, Z; Pisa, Z; Poledne, R; Marmot, M

    1997-01-01

    BACKGROUND: Mortality from cardiovascular diseases is substantially higher in central and eastern Europe than in the west. After the fall of communism, these countries have undergone radical changes in their political, social, and economic environments but little is known about the impact of these changes on health behaviours or risk factors. Data from the Czech Republic, a country whose mortality rates from cardiovascular diseases are among the highest, were analysed in this report. OBJECTIVES: To examine the trends in cardiovascular risk factors in Czech population over the last decade during which a major and sudden change of the political and social system occurred in 1989, and whether the trends differed in relation to age and educational group. DESIGN AND SETTING: Data from three cross sectional surveys conducted in 1985, 1988, and 1992 as a part of the MONICA project were analysed. The surveys examined random samples of men and women aged 25-64 in six Czech districts and measured the following risk factors: smoking, blood pressure, body mass index (BMI), and total and high density lipoprotein (HDL) cholesterol. RESULTS: The numbers of subjects (response rate) examined were 2573 (84%) in 1985, 2769 (87%) in 1988, and 2353 (73%) in 1992. Total cholesterol and body mass index increased between 1985 and 1988 and decreased between 1988 and 1992. The prevalence of smoking was declining slightly in men between 1985 and 1992 but remained stable in women. There were only small changes in blood pressure. The decline in cholesterol and BMI in 1988-92 may be related to changes in foods consumption after the price deregulation in 1991. An improvement in risk profile was more pronounced in younger age groups, and the declines in cholesterol and obesity were substantially larger in men and women with higher education. By contrast, there was an increase in smoking in women educated only to primary level. CONCLUSION: Substantial changes in cholesterol, obesity, and women

  18. THRMS: A pilot risk management system

    International Nuclear Information System (INIS)

    Xue, D.; Xu, Y.

    2000-01-01

    Daya Bay NPP is the first commercial nuclear power plant in China. This plant is interested in and pro-active towards the development and application of PSA and PSA tools. This, together with the support from the IAEA promoted the project 'THRMS: the pilot study of risk management system for NPP'. The objectives in development and implementation of THRMS includes: survey and discuss on the development of the approaches used in constructing plant risk models; design and study on the realization of a real-time risk management system. An overview of the project is presented in this paper. (author)

  19. COORDINATES OF A RISK MANAGEMENT PROJECT

    OpenAIRE

    ALEXANDRU OLTEANU; MĂDĂLINA ANTOANETA RĂDOI

    2013-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Wojciech Machowiak

    2012-12-01

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

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

    Science.gov (United States)

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

  2. Managing the microbiological risks of drinking water.

    Science.gov (United States)

    Krewski, Daniel; Balbus, John; Butler-Jones, David; Haas, Charles; Isaac-Renton, Judith; Roberts, Kenneth; Sinclair, Martha

    The microbiological contamination of drinking water supplies can have serious health consequences for consumers, and this has been dramatically illustrated in recent years by two disease outbreaks in Canada. In this paper, some factors that can influence the microbiological quality of drinking water and its management are examined. Frameworks have been proposed that help to clarify the main elements of health risk assessment and risk management, and, in accordance with these, risks can be logically characterized, evaluated and controlled. A protocol has been developed for microbiological risk assessment and a risk management framework now guides the development of Canada's national guidelines for drinking-water quality. Monitoring of indicator organisms and the application of adequate water treatment are the primary means recommended in the Canadian guidelines to safeguard health from the presence of water-borne pathogens. Understanding the biological characteristics of microbial pathogens is necessary for assessing their impact on community health and appraising the rationale behind drinking-water testing methods and their limitations. Improvements in health surveillance, monitoring, and risk characterization and application of concepts such as multiple barriers (source-to-tap) and total quality management should contribute to better management of the microbiological quality of drinking water.

  3. Living with risk: a management question

    International Nuclear Information System (INIS)

    Ale, Ben J.M.

    2005-01-01

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

  4. Operational risk management for a NPP

    Energy Technology Data Exchange (ETDEWEB)

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

    2013-07-01

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

  5. Operational risk management for a NPP

    International Nuclear Information System (INIS)

    Scott, C.K.

    2013-01-01

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

  6. Probability distributions in risk management operations

    CERN Document Server

    Artikis, Constantinos

    2015-01-01

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

  7. The role of risk perception for risk management

    International Nuclear Information System (INIS)

    Renn, Ortwin

    1998-01-01

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

  8. Risk management in a university environment.

    Science.gov (United States)

    Brewer, Ann; Walker, Ian

    2011-06-01

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

  9. The Role of risk perception for risk management

    International Nuclear Information System (INIS)

    Renn, Ortwin

    1999-01-01

    The list of individual and social factors that shape risk perception demonstrates that the intuitive understanding of risk is a multidimensional concept and cannot be reduced to the product of probabilities and consequences. Although risk perceptions differ considerably among social and cultural groups, the multi-dimensionality of risk and the integration of beliefs related to risk, the cause of risk, and its circumstances into a consistent belief system appear to be common characteristics of public risk perception in almost all countries in which such studies have been performed. Furthermore, the experience of risk is not limited to the threat of facing harm in the future. It includes subjective predictions of possible outcomes, the social and cultural context in which the risk is experienced, the mental images the risk situation evokes, the perception of the players who are involved in the risk situation and the judgments about fairness and equity related to the distribution of potential hazardous events. In this sense, risk is a social construct rather than a physical entity. Risk communication and conflict resolution is therefore a crucial element of any risk management strategy. The goal of risk communication and conflict resolution should not be to persuade people to accept whatever the communicator thinks is best for them. The ideal communication program envisions a receiver who processes all the available information to form a well-balanced judgement in accordance with the factual evidence, the arguments of all sides, and his/her own interests and preferences. The ultimate goal of risk communication is to reconcile expertise, interests, and public preferences. (EHS)

  10. Desertification risk assessment and management program

    Directory of Open Access Journals (Sweden)

    M. Akbari

    2016-12-01

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

  11. The Architecture of Financial Risk Management Systems

    Directory of Open Access Journals (Sweden)

    Iosif ZIMAN

    2013-01-01

    Full Text Available The architecture of systems dedicated to risk management is probably one of the more complex tasks to tackle in the world of finance. Financial risk has been at the center of attention since the explosive growth of financial markets and even more so after the 2008 financial crisis. At multiple levels, financial companies, financial regulatory bodies, governments and cross-national regulatory bodies, all have put the subject of financial risk in particular and the way it is calculated, managed, reported and monitored under intense scrutiny. As a result the technology underpinnings which support the implementation of financial risk systems has evolved considerably and has become one of the most complex areas involving systems and technology in the context of the financial industry. We present the main paradigms, require-ments and design considerations when undertaking the implementation of risk system and give examples of user requirements, sample product coverage and performance parameters.

  12. 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".

  13. Economic, Socio-Political and Environmental Risks of Road Development in the Tropics.

    Science.gov (United States)

    Alamgir, Mohammed; Campbell, Mason J; Sloan, Sean; Goosem, Miriam; Clements, Gopalasamy Reuben; Mahmoud, Mahmoud I; Laurance, William F

    2017-10-23

    It is projected that 25 million km of new paved roads will be developed globally by 2050 - enough to encircle the planet more than 600 times. Roughly 90% of new roads will be built in developing nations, frequently in tropical and subtropical regions with high biodiversity and environmental values. Many developing nations are borrowing from international lenders or negotiating access to their natural resources in order to expand their transportation infrastructure. Given the unprecedented pace and extent of these initiatives, it is vital to thoroughly assess the potential consequences of large-scale road and highway projects. In appropriate contexts and locales, new roads can promote sizeable economic and social benefits. If poorly planned or implemented, however, new roads can provoke serious cost overruns, corruption and environmental impacts, while generating sparse economic benefits and intense social and political conflict. Using examples from developing nations, we identify risks that can hinder road projects in wet and dry tropical environments. Such risks, we assert, are often inadequately considered by project proponents, evaluators and the general public, creating a systematic tendency to overestimate project benefits while understating project risks. A more precautionary approach is needed to reduce risks while maximizing benefits of new road projects in the tropics. Copyright © 2017 Elsevier Ltd. All rights reserved.

  14. The pharmaceuticalization of sexual risk: vaccine development and the new politics of cancer prevention.

    Science.gov (United States)

    Mamo, Laura; Epstein, Steven

    2014-01-01

    Vaccine development is a core component of pharmaceutical industry activity and a key site for studying pharmaceuticalization processes. In recent decades, two so-called cancer vaccines have entered the U.S. medical marketplace: a vaccine targeting hepatitis B virus (HBV) to prevent liver cancers and a vaccine targeting human papillomavirus (HPV) to prevent cervical and other cancers. These viruses are two of six sexually transmissible infectious agents (STIs) that are causally linked to the development of cancers; collectively they reference an expanding approach to apprehending cancer that focuses attention simultaneously "inward" toward biomolecular processes and "outward" toward risk behaviors, sexual practices, and lifestyles. This paper juxtaposes the cases of HBV and HPV and their vaccine trajectories to analyze how vaccines, like pharmaceuticals more generally, are emblematic of contemporary pharmaceuticalization processes. We argue that individualized risk, in this case sexual risk, is produced and treated by scientific claims of links between STIs and cancers and through pharmaceutical company and biomedical practices. Simultaneous processes of sexualization and pharmaceuticalization mark these cases. Our comparison demonstrates that these processes are not uniform, and that the production of risks, subjects, and bodies depends not only on the specificities of vaccine development but also on the broader political and cultural frames within which sexuality is understood. Copyright © 2013 Elsevier Ltd. All rights reserved.

  15. 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.

  16. A public health framework to translate risk factors related to political violence and war into multi-level preventive interventions.

    Science.gov (United States)

    De Jong, Joop T V M

    2010-01-01

    Political violence, armed conflicts and human rights violations are produced by a variety of political, economic and socio-cultural factors. Conflicts can be analyzed with an interdisciplinary approach to obtain a global understanding of the relative contribution of risk and protective factors. A public health framework was designed to address these risk factors and protective factors. The framework resulted in a matrix that combined primary, secondary and tertiary interventions with their implementation on the levels of the society-at-large, the community, and the family and individual. Subsequently, the risk and protective factors were translated into multi-sectoral, multi-modal and multi-level preventive interventions involving the economy, governance, diplomacy, the military, human rights, agriculture, health, and education. Then the interventions were slotted in their appropriate place in the matrix. The interventions can be applied in an integrative form by international agencies, governments and non-governmental organizations, and molded to meet the requirements of the historic, political-economic and socio-cultural context. The framework maps the complementary fit among the different actors while engaging themselves in preventive, rehabilitative and reconstructive interventions. The framework shows how the economic, diplomatic, political, criminal justice, human rights, military, health and rural development sectors can collaborate to promote peace or prevent the aggravation or continuation of violence. A deeper understanding of the association between risk and protective factors and the developmental pathways of generic, country-specific and culture-specific factors leading to political violence is needed.

  17. Tank waste remediation system programmatic risk management plan

    International Nuclear Information System (INIS)

    Seaver, D.A.

    1995-01-01

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

  18. THE POLITICS OF THE NATIONAL BANK OF ROMANIA TO DEAL WITH CREDITING RISK

    Directory of Open Access Journals (Sweden)

    Vechiu Camelia

    2011-12-01

    Full Text Available The market economy refers to the implicit presence of a banking system which could ensure the mobilization of all the monetary resources of the respective economy and their temporary orientation towards the development of efficient economic activities. A significant aspect of the bank performance refers to the measurement of risks with the aim to diminish them. If the bank management is poor and the risks are not taken into consideration, it will be possible that the earning capacity to be reduced and to lead even to the bankruptcy. Due to the fact that the banks are lending, they assume risks which are determined by the doubtful debtor (it appears the insolvency, or by the general economic evolution (which involves interest and exchange rate risks, or by the financial structure of the bank (financing long-term credits from short or sight deposits. The bank risk can be determined by external or internal factors of the bank due to the competitive environment. In the professional literature, the methodology used for the risk management involves several steps: the risk identification and analysis; the risk elimination and control; the risk assessment and assuming; the risk financing by debiting the general or specific reserves or by transfer which means the insurance of the bank company. For those banks operating in Romania, the risks are even more evident due to the hostile environment in which they operate, but also due to the specificity of the Romanian banking system which is still evolving and adapting to the competitive stringencies of the market economy. This paper is trying to follow the risk involvement towards the bank activity taking into account its importance and role in order to ensure the increase of the bank earning capacity.

  19. Model of Axiological Dimension Risk Management

    Directory of Open Access Journals (Sweden)

    Kulińska Ewa

    2016-01-01

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

  20. Risk management methodology for RBMN project

    International Nuclear Information System (INIS)

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

    2013-01-01

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

  1. LIQUIDITY MANAGEMENT AND CORPORATE RISK

    Directory of Open Access Journals (Sweden)

    Fenyves Veronika

    2011-07-01

    Full Text Available The consequence of the economic crisis, the access of the external financing resources was narrowed significantly and lenders had became more cautious. This meant that the external source providers analyze more thoroughly the source claimants, and they also need to be more aware of their situation, to submit well founded loan applications to financial institutions. The other aspect is why the indicators presented in the study, the firms should be addressed much more thoroughly than ever before to have a much better understanding their situation, to recognize the sources of internal funding opportunities, and to use more efficiently the available internal resources. However, analysts should be aware of which are the ratios which should be paid a special attention and which ones are essential to assess a given situation, knowing them they can properly inform the leaders as well as to give an appropriate help to the decision makers. To ensure the appropriate level of internal resources the company's activity is continuous financing closely related to the working capital management. The other reason is why the working capital management coming into view - which is linked to the previous one - that longer and longer payment periods have emerged in the corporate sales, in point of fact there is a significant increase in commercial lending period, the companies must be able to finance this period. The working capital is essential for companies to determine their short-term financial positions. A significant change in working capital provides an important information to the company's various stakeholders, and this is especially true for the net working capital. The working capital analysis is one way the company's creditability evaluation, and helps also to better understand the company's normal business cycle.

  2. Safety control and risk management

    International Nuclear Information System (INIS)

    Rasmussen, J.

    1987-01-01

    The acceptable probability of major accidents in nuclear power is very small, and can not be determined from direct empirical evidence. Therefore, control of the level of safety is a complex problem. The difficulty is related to the fact that a variable, 'safety', which is not accessible to direct measurement, is to be tightly controlled. Control, therefore, depends on a systematic, analytical prediction of the target state, i.e., the level of safety, from indirect evidence. From a control theoretic point of view this means that safety is controlled by a system which includes openloop as well as closed loop control paths. The aim of the paper is to take a general systems view on the complex mechanisms involved in the control of safety of industrial installations like nuclear power. From this, the role of probabilistic risk analysis is evaluated and needs for further development discussed. (author)

  3. Alternative management structures for municipal waste collection services: The influence of economic and political factors

    International Nuclear Information System (INIS)

    Plata-Díaz, Ana María; Zafra-Gómez, José Luis; Pérez-López, Gemma; López-Hernández, Antonio Manuel

    2014-01-01

    Highlights: • We analyzed the factors that influence on the restructuring of MSW services. • We evaluated five different alternatives for public and private service. • Our analysis covers a broad time horizon, 2002–2010. • We used a conditional fixed-effects logistic regression as the evaluation method. • Municipalities tend to contract out the MSW service in the presence of high costs and fiscal stress. - Abstract: Identifying and characterising the factors that determine why a local authority opts for a particular way of managing its waste collection service is an important issue, warranting research interest in the field of municipal solid waste (MSW) management. This paper presents empirical evidence spanning a broad time horizon (2002–2010) showing that economic and political factors impact in different ways on the provision of waste management services. We examine five alternatives in this area, including public and private service delivery formulas and, within each field, individual and joint options. Our findings highlight the importance of the service cost and that of the various indicators of fiscal stress as determinant factors of management decisions regarding the provision of MSW management services

  4. Banking Risk Management in the Light of Basel II

    Directory of Open Access Journals (Sweden)

    Vasile DEDU

    2010-02-01

    Full Text Available This study presents a summary of what is the meaning of risk management in light of the Basel II Agreement. The study is structured in three parts, namely: credit risk management, significant credit risk management and credit risk management under Basel II Agreement. Thus, in the first part it refers to how developed the credit risk management over time and which are current phenomena that generate these risks, continuing in the second part with a summary of the reasons for which one wishes management of such credit risks, following the third party to talk about the shippings of Basel II in terms of credit risk management.

  5. 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...

  6. BANK AUDITS AND RISK MANAGEMENT IN TURKEY

    Directory of Open Access Journals (Sweden)

    Ümit Gücenme GENÇOĞLU

    2011-01-01

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

  7. Weather Risk Management in Agriculture

    Directory of Open Access Journals (Sweden)

    Martina Bobriková

    2016-01-01

    Full Text Available The paper focuses on valuation of a weather derivative with payoffs depending on temperature. We use historical data from the weather station in the Slovak town Košice to obtain unique prices of option contracts in an incomplete market. Numerical examples of prices of some contracts are presented, using the Burn analysis. We provide an example of how a weather contract can be designed to hedge the financial risk of a suboptimal temperature condition. The comparative comparison of the selected option hedging strategies has shown the best results for the producers in agricultural industries who hedges against an unfavourable weather conditions. The results of analysis proved that by buying put option or call option, the farmer establishes the highest payoff in the case of temperature decrease or increase. The Long Straddle Strategy is the most expensive but is available to the farmer who hedges against a high volatility in temperature movement. We conclude with the findings that weather derivatives could be useful tools to diminish the financial losses for agricultural industries highly dependent for temperature.

  8. Risk management of agricultural floods

    Directory of Open Access Journals (Sweden)

    Skakavac Zdravko

    2017-01-01

    Full Text Available Agricultural production in Serbia accounts for the largest part of the gross domestic product and can be an economic backbone and the main driver of the domestic food industry and exports, primarily because of its potential such as arable land and a long tradition of agricultural production in these regions. However, numerous risks threaten its stability. The focus of our research is agricultural flooding. The set-up aim of the research is an examination of the causes and consequences of agricultural fields in order to holistically research the current problem. In order to achieve the target, in the paper we will analyze the realization of floods in Serbia, followed by subjective and objective factors of the realization of floods, or the realization of floods caused by human or natural forces and then we will point out the economic consequences of the execution of agricultural floods as well as the application of preventive measures and measures of financing the resulting economic consequences.

  9. Managing dynamic epidemiological risks through trade

    Science.gov (United States)

    Horan, Richard D.; Fenichel, Eli P.; Finnoff, David; Wolf, Christopher A.

    2015-01-01

    There is growing concern that trade, by connecting geographically isolated regions, unintentionally facilitates the spread of invasive pathogens and pests – forms of biological pollution that pose significant risks to ecosystem and human health. We use a bioeconomic framework to examine whether trade always increases private risks, focusing specifically on pathogen risks from live animal trade. When the pathogens have already established and traders bear some private risk, we find two results that run counter to the conventional wisdom on trade. First, uncertainty about the disease status of individual animals held in inventory may increase the incentives to trade relative to the disease-free case. Second, trade may facilitate reduced long-run disease prevalence among buyers. These results arise because disease risks are endogenous due to dynamic feedback processes involving valuable inventories, and markets facilitate the management of private risks that producers face with or without trade. PMID:25914431

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

    Directory of Open Access Journals (Sweden)

    CAMELIA I. LUNGU

    2011-04-01

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

  11. Fairness hypothesis and managing the risks of societal technology choices

    International Nuclear Information System (INIS)

    Cantor, R.; Rayner, S.

    1986-08-01

    Much of the literature on risk perception and management has asked how society should resolve the question, ''How safe is safe enough'' There has been political and technical disagreement over the types of answers that may be given, as well as over the social values attached to perceived probabilities and magnitudes of various outcomes. Despite controversy, there seems to have been a large measure of consensus that, ''How safe is safe enough'' is the right question to ask. This paper sets out to question that assumption. Various ingenious techniques of risk analysis have sought to discover the real risks inherent in various activities, but from a sociocultural viewpoint it can be seen that no single answer can be given to the problem of adequate safety in a complex society which contains a wide variety of perceptual biases about danger, expectations of the good life, and levels of demand for safety. The paper argues that, from a societal risk-management perspective, we should be addressing a different range of questions that views societal risk as a whole rather than as the sum of individual hazards. Resolving the question, ''How safe is safe enough'' is less important in making societal technology choices than ''How fair is safe enough?'' A recent empirical pilot study is reported which explored the fairness hypotheses in the context of nuclear power. The results indicate that the process of technology choice should recognize explicitly the preferred principles different parties hold with respect to obtaining consent from those affected by the risks, distributing the liabilities, and justifying trust in the relevant institutions. The paper closes with a discussion of future prospects for the fairness approach in areas such as noxious facility siting

  12. MANAGING RISK IN ORGANIZATION OF SPORTING EVENTS

    Directory of Open Access Journals (Sweden)

    Miodrag Koprivica

    2013-07-01

    Full Text Available Sport Management is, without doubt, a modern, practical but at the same time scientific and theoretical trend. Starting with the definition of the word „event“ as an activity that is limited in terms of time, place and a number of participants who gather together with a certain agenda in their mind, an unbreakable connection between it and sport has been made. Risks that appear in this branch of industry of sport are multiple, hardly foreseeable, and with possible long-term consequences. Precisely for that reason, it is important to provide the answers to the questions of what the crisis and crisis management in sport management are, and to establish the processes and stages of risk management

  13. Sincope: clinic risk determination and therapeutic management

    Directory of Open Access Journals (Sweden)

    Fabio Mecca

    2007-06-01

    Full Text Available Syncope is a frequent symptom characterizing a wide group of pathologies with very different prognosis. By this reason, it is necessary a careful risk stratification for a better patient management. For this aim medical history and physical examination are fundamental. Diagnostic exams complete and confirm diagnostic suspiciousness formulated by medical history and examination, but rarely give elements for unexpected diagnosis. Correct identification of pathological mechanism of syncope and determination of associated clinical risk allow the best patient management avoiding dangerous discharge but also, in relation to increasingly limited resources, inappropriate hospitalizations.

  14. RISK MANAGEMENT COMPANIES AND HEDGE ACCOUNTING

    Directory of Open Access Journals (Sweden)

    SABIN ARMĂŞELU

    2014-12-01

    Full Text Available The increasing use of derivatives for risk management of a company lately has led to the need to report on an actual basis as these instruments and regulate these operations accounting. This paper proposes a presentation of hedging transactions and their accounting evaluating the impact, in terms of accounting, risk management derivatives on a company. Hedges are often ineffective. Overcoming the ineffectiveness of hedging operations can be achieved by proper designation of the hedging relationship and create an appropriate method to demonstrate hedge effectiveness.

  15. Risk Management in IT Governance Framework

    Directory of Open Access Journals (Sweden)

    Mirela GHEORGHE

    2011-12-01

    Full Text Available The concept of governance has an already old contour: the system by which business corporations are directed and controlled. The most praised principles regarding shareholder rights, transparency and board accountability now constitute the foundation for new tendencies evolved from such ground. Executive compensation, transparency and shareholder reporting are new issues attached to board responsibilities. Besides such almost negative approaches the board faces a more and more prominent role from risk management and IT governance perspective. Nowadays is generally acknowledged that the board is in charge for managing and controlling the risks to assets of the enterprises and business future. IT Governance has emerged as a support for corporate governance, as an important part of board’s striving efforts to perform better in a competition environment. These responsibilities, risk management and IT Governance, remain within the framework of old concept of corporate governance and are fed from its substance. The interaction between these concepts is the core interest of this research.IT Governance is defined as procedures and policies established in order to assure that the IT system of an organization sustains its goals and strategies. The management of the organisations face a new challenge: structural redefinition of the IT component in order to create plus value and to minimize IT risks through an efficient management of all IT resources of the organisation. The evolution of the present IT environment is a natural process according to which business environment should adapt.

  16. Managing industrial price risk: a balancing act

    International Nuclear Information System (INIS)

    Muse, J-F.

    2000-01-01

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

  17. Highly Enhanced Risk Management Emergency Satellite

    DEFF Research Database (Denmark)

    Dalmeir, Michael; Gataullin, Yunir; Indrajit, Agung

    HERMES (Highly Enhanced Risk Management Emergency Satellite) is potential European satellite mission for global flood management, being implemented by Technical University Munich and European Space Agency. With its main instrument - a reliable and precise Synthetic Aperture Radar (SAR) antenna...... highly effective and orbit proven hardware is used, HERMES is designed to be reliable, precise and of low cost. The project can be extended for use on other space bodies (planets) for rapid observation of the planetary surface....

  18. Coastal Risk Management in a Changing Climate

    DEFF Research Database (Denmark)

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

    2014-01-01

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

  19. Does Corporate Governance Impact Risk Management System?

    Directory of Open Access Journals (Sweden)

    Petre BREZEANU

    2011-04-01

    Full Text Available This paper brings forth the contribution of corporate governance to risk management system at the enterprise level. The research is a complex one, integrating both quantitative and qualitative information. The quantitative information consists of balance sheet and profit and loss account data while the qualitative one includes dummy variables reflecting the agency and monitoring costs which govern the relationship between managers and shareholders.

  20. Bayesian networks for management of industrial risk

    International Nuclear Information System (INIS)

    Munteanu, P.; Debache, G.; Duval, C.

    2008-01-01

    This article presents the outlines of Bayesian networks modelling and argues for their interest in the probabilistic studies of industrial risk and reliability. A practical case representative of this type of study is presented in support of the argumentation. The article concludes on some research tracks aiming at improving the performances of the methods relying on Bayesian networks and at widening their application area in risk management. (authors)

  1. Online professional networks for physicians: risk management.

    Science.gov (United States)

    Hyman, Jon L; Luks, Howard J; Sechrest, Randale

    2012-05-01

    The rapidly developing array of online physician-only communities represents a potential extraordinary advance in the availability of educational and informational resources to physicians. These online communities provide physicians with a new range of controls over the information they process, but use of this social media technology carries some risk. The purpose of this review was to help physicians manage the risks of online professional networking and discuss the potential benefits that may come with such networks. This article explores the risks and benefits of physicians engaging in online professional networking with peers and provides suggestions on risk management. Through an Internet search and literature review, we scrutinized available case law, federal regulatory code, and guidelines of conduct from professional organizations and consultants. We reviewed the OrthoMind.com site as a case example because it is currently the only online social network exclusively for orthopaedic surgeons. Existing case law suggests potential liability for orthopaedic surgeons who engage with patients on openly accessible social network platforms. Current society guidelines in both the United States and Britain provide sensible rules that may mitigate such risks. However, the overall lack of a strong body of legal opinions, government regulations as well as practical experience for most surgeons limit the suitability of such platforms. Closed platforms that are restricted to validated orthopaedic surgeons may limit these downside risks and hence allow surgeons to collaborate with one another both as clinicians and practice owners. Educating surgeons about the pros and cons of participating in these networking platforms is helping them more astutely manage risks and optimize benefits. This evolving online environment of professional interaction is one of few precedents, but the application of risk management strategies that physicians use in daily practice carries over

  2. Disclosures on managing human rights risks

    OpenAIRE

    ACCA Australia and New Zealand; Net Balance Foundation; CAER

    2011-01-01

    This report examines the human rights governance, risk management and reporting quality of companies in the ASX 100. The report focuses predominantly on the 47 companies in the ASX 100 identified by CAER as having high-risk exposure to human rights issues, on the basis they are operating in countries with human rights concerns. The report also addresses, in brief, the approach of the remaining 53 ASX 100 companies not operating in countries of concern but with potential exposure to other huma...

  3. Managing information risk a director's guide

    CERN Document Server

    Mitchell, Stewart

    2009-01-01

    This pocket guide addresses the scope of risks involved in a modern IT system, and outlines strategies for working through the process of putting risk management at the heart of your corporate culture. Given that no two companies are the same, this pocket guide should not be taken as a step-by-step guide, but should provide decision makers with a solid overview of the factors they need to consider and a framework for implementing a regime that suits their needs.

  4. Perceptions of food risk management among key stakeholders

    DEFF Research Database (Denmark)

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

    2006-01-01

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

  5. Amenagement et politique linguistques: La politique des langues au Benin (Language Management and Language Policy: The Politics of Language in Benin).

    Science.gov (United States)

    Halaoui, Nazam

    2001-01-01

    Distinguishing between language management and language policy, examines the politics of language in Benin from independence to the present. Describes the politics of language in Dahomey, the early policies of Benin, and the Republican politics of language, arising from the national constitutional convention and striving to address the needs of…

  6. FINANCIAL RISK MANAGEMENT – INFLUENCE FACTORS AND NEW TRENDS

    OpenAIRE

    Laura Vasilescu

    2014-01-01

    Financial or corporate risk management is a part of the firm risk management with which deal with the financial risks, such as market risk, liquidity risk and credit risk. In the context of international financial crisis, a variety of factors are influencing the development of corporate risk management: the increased volatility and deregulation of financial markets; developments in information and communications technology; the complexity of financial products and so on. The objective of risk...

  7. Theoretical concept of credit risk management

    Directory of Open Access Journals (Sweden)

    Dragosavac Miloš

    2014-01-01

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

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

    International Nuclear Information System (INIS)

    Jiang Bo; Feng Yanping; Liu Changbin

    2010-01-01

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

  9. Estimation, assessment and management of risks

    International Nuclear Information System (INIS)

    Reinoehl-Kompa, S.

    2005-01-01

    After the introductory lectures the closed conference divided into sessions on the estimation, assessment and management of risks. This review article summarises some of the central issues which were addressed in the discussions held during the closed conference and which may be of significance for the future work of the ''Radiation Risk'' Committee within the Radiation Protection Commission. Fundamental difficulties still persist in the implementation of risk quantities within the concepts of radiation protection (lectures by Breckow and Kiefer). Some of these difficulties have to do with the definition of dose quantities, in particular with the one most central to radiation protection, the effective dose. In the field of sparsely ionizing radiation attention was focused on two main topics, namely the risk of acquiring thyroid cancer in association with the Chernobyl desaster and analyses of new mortality data on the survivors of the nuclear bomb attacks on Hiroshima and Nagasaki. In the area of lung cancer risk from radon exposure, attention was focused on indoor exposure and the cohort study on bismuth miners. The body of knowledge that has accumulated on the risk of acquiring cancer through UV radiation takes a special position within the wider field of risks associated with nonionizing radiation, since much has already been achieved towards identifying the action mechanisms involved here. Since skin cancer shows the highest increments in incidence of all types of cancer, estimating the risk of acquiring skin cancer through UV radiation will be an important issue in future. One of the tasks of risk management is to translate the results of risk assessment into action. One task of particular importance in this regard is ''risk communication'', the problems surrounding which were illuminated from different perspectives in various contributions

  10. BUSINESS ADMINISTRATION VS. SOCIAL POLITICS: AN ASSESSMENT WITH REGARD TO TOTAL QUALITY MANAGEMENT AND SOCIAL RESPONSIBILITY APPLICATIONS

    OpenAIRE

    A.N.Sozer; D.A.Yemisci

    2007-01-01

    The discipline of business administration has close relations with the disciplines of economics, law, behavioral sciences, statistics and mathematics. The manager of an enterprise should not only manage the sources of capital securing the maximum profit, but also he/she should have knowledge on how to manage the people working for the enterprise (workers and other personnel). Social politics is the discipline which analyses the human relations arising from economic affairs. Thus the main conc...

  11. Thinking big: Politics, progress, and security in the management of Asian and European energy megaprojects

    International Nuclear Information System (INIS)

    Van de Graaf, Thijs; Sovacool, Benjamin K.

    2014-01-01

    This article examines four energy megaprojects, two in Europe and two in Asia. For each region, a large natural gas pipeline project and an international project involving solar power from the desert is studied. The natural gas projects are: the Nabucco project (in Europe) and the trans-ASEAN gas pipeline network (in Asia). The solar power from the desert projects are: Desertec (in Europe) and Gobitec (in Asia). The article probes explanations of megaproject failure along social, technical, economic, political, and psychological dimensions. We find that these projects, though they are very different in nature and pertain to different regions, all suffer from a similar set of problems: too many stakeholders and stakeholder fragmentation; cost overruns and the risk of accidents and attacks; massive externalization of costs to third party stakeholders; concentration of wealth and corruption; and inflated expectations and biased projections. We conclude by reflecting on lessons for not only the involved institutions and investors, but energy analysts and the public at large. - Highlights: • Four energy megaprojects are analyzed: Nabucco, TAGP, Gobitec and Desertec. • Despite their differences, all suffer from a similar set of problems. • They exhibit social, technical, economic, political, and psychological failures

  12. Audit of psychosocial risk management systems

    DEFF Research Database (Denmark)

    Jespersen, Anne Helbo; Hasle, Peter; Hohnen, Pernille

    2014-01-01

    organizations on how to manage risks. Internal and external audits of compliance with the standard are key elements. Auditors should be competent to carry out the task and be familiar with risks of the areas they are auditing. The competences and practice of internal auditors have been studied...... in two Danish municipalities. The results show that auditors have a varied background and a limited knowledge about psychosocial risks. They have difficulties in carrying out audits and the results are mainly influenced by personal preferences....

  13. 75 FR 30106 - Terrorism Risk Insurance Program; Litigation Management Submissions

    Science.gov (United States)

    2010-05-28

    ... Terrorism Risk Insurance Program; Litigation Management Submissions AGENCY: Departmental Offices. ACTION..., the Terrorism Risk Insurance Program Office is seeking comments regarding Litigation Management..., preferably an original and two copies) to: Terrorism Risk Insurance Program, Public Comment Record, Suite...

  14. Safety Risk Management for Homeland Defense and Security Responders

    National Research Council Canada - National Science Library

    Meyers, Tommey H

    2005-01-01

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

  15. The social stakes of the radiological risk management

    International Nuclear Information System (INIS)

    Schieber, C.; Lochard, J.

    1999-01-01

    This presentation studies the management of radiological risk in the frame of public confidence and risk acceptability. The ALARA principle is studied to see how it can be an acceptability factor in the radiological risk management. (N.C.)

  16. 77 FR 13585 - Electricity Subsector Cybersecurity Risk Management Process Guideline

    Science.gov (United States)

    2012-03-07

    ... DEPARTMENT OF ENERGY Electricity Subsector Cybersecurity Risk Management Process Guideline AGENCY: Office of Electricity Delivery and Energy Reliability, Department of Energy. ACTION: Notice of public... Electricity Subsector Cybersecurity Risk Management Process guideline. The guideline describes a risk...

  17. 77 FR 30517 - Electricity Subsector Cybersecurity Risk Management Process

    Science.gov (United States)

    2012-05-23

    ... DEPARTMENT OF ENERGY Electricity Subsector Cybersecurity Risk Management Process AGENCY: Office of Electricity Delivery and Energy Reliability, Department of Energy. ACTION: Notice of publication. SUMMARY... Electricity Subsector Cybersecurity Risk Management Process guideline. The guideline describes a risk...

  18. Transitions between risk management regimes in cities

    Directory of Open Access Journals (Sweden)

    William Solecki

    2017-06-01

    Full Text Available Ongoing climate change is encouraging cities to reevaluate their risk management strategies. Urban communities increasingly are being forced to respond to climate shifts with actions that promote resistance, resilience, or even larger scale transformations. Our objective is to present a conceptual framework that facilitates examination of how the transition from one type of risk management strategy or regime to another takes place. The research framework is built around a set of assumptions regarding the process of transition between risk management regimes. The framework includes five basic conceptual elements: (1 risk management regimes, (2 development pathways, (3 activity spheres, (4 activity spaces, and (5 root, contextual, and proximate drivers. The interaction among these elements and the potential for transition between four different possible regime states including resistance, resilience, transformation, and collapse are presented. The framework facilitates and guides analysis on whether and how transition is emergent, constrained, or accelerated in specific contexts. A case study of post-Hurricane Sandy New York is used to illustrate the framework and its overall effectiveness.

  19. Risk management and corporate governance performance ...

    African Journals Online (AJOL)

    The study examines the relative effect of risk management and corporate governance on bank performance in Nigeria. The study utilizes both primary and secondary data. The primary data were collected using structured questionnaire that were administered in Four-hundred and eighty (480) employees of Wema Bank Plc ...

  20. Implications of Risk Management Practices on Financial ...

    African Journals Online (AJOL)

    This study focuses on the implications of risk management practices on financial performance of sugar firms in Kenya. The respondents were functional heads of the companies under the survey. We used exploratory design using survey research methodology that included structuredquestionnaires and interviews. Pearson ...

  1. Preoperative evaluation : risk management and implementation aspects

    NARCIS (Netherlands)

    Klei, W.A. van

    2002-01-01

    In preoperative risk management the anesthesiologist uses diagnostic information to estimate the probability of outcomes and to decide on the anesthetic strategy in a particular patient. The aim of this thesis was explore to what extent simple patient characteristics, particularly obtained from

  2. MANAGING YIELD RISK THROUGH A COOPERATIVE

    OpenAIRE

    Zeuli, Kimberly A.; Skees, Jerry R.

    2001-01-01

    Developing new risk management products for all agricultural commodities has increased in importance given recent legislation. Vegetables have been difficult to insure. This paper investigates the use of index contracts for growers belonging to a Kentucky vegetable cooperative. Index contracts should be significantly more efficient than current crop insurance alternatives.

  3. Managing Risk, Reducing Vulnerability and Enhancing Productivity ...

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

    Managing Risk, Reducing Vulnerability and Enhancing Productivity under a Changing Climate. The countries of the Greater Horn of Africa are particularly vulnerable to drought, exacerbated by widespread poverty and dependence on rainfed agriculture. Even with normal rainfall, the region does not produce enough food to ...

  4. Risk modelling and management: An overview

    NARCIS (Netherlands)

    C-L. Chang (Chia-Lin); D.E. Allen (David); M.J. McAleer (Michael); T. Pérez-Amaral (Teodosio)

    2013-01-01

    textabstractThe papers in this special issue of Mathematics and Computers in Simulation are substantially revised versions of the papers that were presented at the 2011 Madrid International Conference on "Risk Modelling and Management" (RMM2011). The papers cover the following topics: currency

  5. [Training student nurses in risk management].

    Science.gov (United States)

    Nombalier, Yannick

    2016-04-01

    At the heart of the complexity of an organised system, the student must learn to manage situations presenting characteristics of known or potential risk. The trainer integrates it into an approach in which reflexive analysis and objectivity are essential in the professional practice. Copyright © 2016 Elsevier Masson SAS. All rights reserved.

  6. Economic optimisation of flood risk management projects

    NARCIS (Netherlands)

    Tsimopoulou, V.

    2015-01-01

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

  7. Improving ICU risk management and patient safety.

    Science.gov (United States)

    Kielty, Lucy Ann

    2017-06-12

    Purpose The purpose of this paper is to describe a study which aimed to develop and validate an assessment method for the International Electrotechnical Commission (IEC) 80001-1 (IEC, 2010) standard (the Standard); raise awareness; improve medical IT-network project risk management processes; and improve intensive care unit patient safety. Design/methodology/approach An assessment method was developed and piloted. A healthcare IT-network project assessment was undertaken using a semi-structured group interview with risk management stakeholders. Participants provided feedback via a questionnaire. Descriptive statistics and thematic analysis was undertaken. Findings The assessment method was validated as fit for purpose. Participants agreed (63 per cent, n=7) that assessment questions were clear and easy to understand, and participants agreed (82 per cent, n=9) that the assessment method was appropriate. Participant's knowledge of the Standard increased and non-compliance was identified. Medical IT-network project strengths, weaknesses, opportunities and threats in the risk management processes were identified. Practical implications The study raised awareness of the Standard and enhanced risk management processes that led to improved patient safety. Study participants confirmed they would use the assessment method in future projects. Originality/value Findings add to knowledge relating to IEC 80001-1 implementation.

  8. Environmental risk management strategies: household response to ...

    African Journals Online (AJOL)

    The environmental risk management strategies used by farmers in response to rice yield variability in Ebonyi State, Nigeria was examined. A total of 108 rice farmers were interviewed using structured questionnaire. Data analysis shows that the mean age of the farmers was 45.9 years and majority (63%) had only primary ...

  9. Learned predation risk management by spider mites

    Directory of Open Access Journals (Sweden)

    Thomas eHackl

    2014-09-01

    Full Text Available Predation is a prime selective force shaping prey behavior. Investment in anti-predator behavior is traded-off against time and energy for other fitness-enhancing activities such as foraging or reproduction. To optimize this benefit/cost trade-off, prey should be able to innately and/or by experience modulate their behavior to the level of predation risk. Here, we assessed learned predation risk management in the herbivorous two-spotted spider mite Tetranychus urticae. We exposed spider mites coming from benign (naïve or high immediate predation risk (experienced environments to latent and/or no risk and assessed their site choice, activity and oviposition. Benign environments were characterized by the absence of any predator cues, high immediate risk environments by killed spider mites, physical presence of the predatory mite Phytoseiulus persimilis and associated chemosensory traces left on the surface, and latent risk environments by only predator traces. In the no-choice experiment both naïve and experienced spider mites laid their first egg later on leaves with than without predator traces. Irrespective of predator traces presence/absence, experienced mites laid their first egg earlier than naïve ones did. Naïve spider mites were more active, indicating higher restlessness, and laid fewer eggs on leaves with predator traces, whereas experienced mites were less active and laid similar numbers of eggs on leaves with and without predator traces. In the choice experiment both naïve and experienced spider mites preferentially resided and oviposited on leaves without predator traces but experienced mites were less active than naïve ones. Overall, our study suggests that spider mites experienced with high predation risk behave bolder under latent risk than naïve spider mites. Since predator traces alone do not indicate immediate risk, we argue that the attenuated anti-predator response of experienced spider mites represents adaptive learned

  10. Implementing a risk management program at Falconbridge

    International Nuclear Information System (INIS)

    Blechta, G.

    2003-01-01

    A corporate overview of Falconbridge was presented. Falconbridge, founded in 1928 is a leading producer of nickel, copper, cobalt and platinum group metals at low cost. A map displaying its worldwide locations was shown. In Canada, Falconbridge operates in Ontario and Nunavik Territory. The experience in Norway was briefly described, touching on market volatility, market intelligence, portfolio management, and risk management guidelines. The author then explained the purpose of the Energy Project Team, which was responsible for preparing for deregulation, developing strategies for purchasing energy, and minimizing the cost of purchased energy in a competitive market. The plan was described, and the emphasis placed on the core Ontario team. Communication played a large part. The management system functions were reviewed, and analysis provided. The financial integration model was presented. Risk management was dealt with, followed by market intelligence and operational hedge. Division impact was discussed. The major Falconbridge issues were: budget exposure to electricity price variability, how much fixed-price power supply and how long should the contracts be, regulatory structure, market purchase timing, and adhere to corporate risk management policy. The procurement process was described. The author concluded that the product must be kept simple and the number of products limited. A realistic schedule must by adhered to, and a short bidding period of four hours proved ideal. Supplier relationship must be consumer driven. The importance of communication plan was emphasized. Getting pre-approval to make the deal is important. tabs., figs

  11. SRP meeting: social and political implications of communicating radiation risk, Daresbury, Warrington, 20 June 2001

    Energy Technology Data Exchange (ETDEWEB)

    Davies, Karen

    2001-12-01

    The SRP held a very interesting meeting in June at the Daresbury Laboratory in Warrington on the social and political implications of communicating radiation risk. In today's risk-aware society, effective communication is just as important as the control measures introduced to prevent or restrict exposure. In relation to radiation protection, risk communicators had a hard job because of: Public dread Likelihood of risk intensification Perceived inequitable distribution of risks. The higher the uncertainty, the more wary people were likely to be. Julie cited the International Nuclear Events Scale (INES) as a possible tool for promoting a consistent message across all publics. This was because it aimed to put events into proper perspective and provide a common understanding amongst the nuclear community, the media and the public. Julie summed up by saying that the risk communication was not just any form of communication and the issue of communicating radiation risks involved special consideration. Further research established that the more information given to the local population, the more likely that they would deny that there was a problem. Denial could moderate beliefs or emotional reactions to a situation. This then affected their dose as they were more likely to adopt risky behaviour by eating contaminated food and entering contaminated areas. Avoiding the need to undertake safe behaviour reduced stress levels. Furthermore, people adopted beliefs to suit their situation. For example, some inhabitants of the affected areas became adapted to the radiation and actually felt worse outside the contaminated area. There was strong pressure for the maintenance of a situation which actually prevented appropriate precautions being taken. Peter concluded that there was often confusion over the details of technical information that sometimes might not help to prevent a course of action being taken. However on a positive note the research did find credence and

  12. Mainstreaming disaster risk management in higher education

    Directory of Open Access Journals (Sweden)

    MARCIA VILLASANA

    Full Text Available Universities should actively participate in disseminating and fostering a culture for disaster risk management (DRM among students and the community. Particularly in countries with high levels of risk, education plays a key role in raising awareness on the importance of preventing and implementing conscious risk management. Though the incorporation of DRM into the curricula, education programs become a mechanism to prepare students from a perspective of strengthening of values, citizenship, and social sensibility towards how disaster represents a disruption of the functioning of a community and impairs business activity. This paper presents the proposal for the integration of DRM of a private university in Mexico, one of the countries particularly susceptible to extreme hydrometereological and geological events. The proposal includes a concentration area for undergraduate business students, a mandatory introductory course for all business majors, and for the business community an executive education program for SMEs

  13. The Gordian knot: managing herring (Clupea harengus) bridging across populations, fishery units, management areas, and politics

    DEFF Research Database (Denmark)

    Worsøe Clausen, Lotte; Mosegaard, Henrik; Berg, Casper Willestofte

    2012-01-01

    The management of western Baltic spring spawning (WBSS) herring is challenged by the highly complex stock structure with a temporal and geographical distribution leading to conflicting interests among different stakeholder groups. The stock is exploited in the Baltic Sea (Subdivisions 22–24) and ......The management of western Baltic spring spawning (WBSS) herring is challenged by the highly complex stock structure with a temporal and geographical distribution leading to conflicting interests among different stakeholder groups. The stock is exploited in the Baltic Sea (Subdivisions 22......–24) and the North Sea (Division IIIa) by various EU—and in the latter case also non‐EU—fishing fleets. For the two separate management areas, TACs are set at different times in the yearly TACsetting process by the EU and negotiating counties, which often result in conflicts over quota allocations among different...... management units. The WBSS herring stock spawns in the western Baltic Sea and migrates into the Kattegat and Skagerrak areas, where it mixes with North Sea autumn spawning (NSAS) herring. Recent development of otolith shape analysis has enabled a high‐resolution separation of herring stocks in these waters...

  14. Managing medicinal risks in self-medication.

    Science.gov (United States)

    Fainzang, Sylvie

    2014-05-01

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

  15. Human System Risk Management for Space Flight

    Science.gov (United States)

    Davis, Jeffrey

    2015-01-01

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

  16. Risk management through dynamic technical specifications

    International Nuclear Information System (INIS)

    Klopp, George T.; Petersen, Thomas A.

    2004-01-01

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

  17. CRISIS: A System for Risk Management

    Directory of Open Access Journals (Sweden)

    Erica Y. Sanchez

    2012-12-01

    Full Text Available In a situation of an unexpected catastrophe, uncertainty and demand for information are constant. In such a disaster scenario, the CRISIS system arises as a tool to contribute to previous coordination, procedure validation, exercise execution, a good and frequent communication among organizations, and weakness and threat assessment for an appropriate risk management. It offers a wide variety of tools for online communication, consultation and collaboration that, up to this day, includes cartography, tasks, resources, news, forums, instant messaging and chat. As a complement, mathematical models for training and emergency management are being researched and developed. For Argentinean society, it is a necessity to switch from the current handcrafted, bureaucratic emergency management method to a decision-making management model. Previous coordination, exercise execution, a fluid communication among institutions, and threats and weaknesses assessment are required for a proper risk management. With that goal in mind, it is important to reduce confusion, avoid the duplication of efforts to fulfill the same tasks, and have access to a complete vision of the situation, generated from the data of all the organizations taking part. The CRISIS system is a secure web application, accessible to every node in a network formed by the organizations which have complementary responsibilities during prevention and response. It offers a wide variety of tools for online communication, consultation and collaboration that, up to this day, includes cartography, tasks, media (organization and resources, news, forums, instant messaging and chat. As a complement, mathematical models for training and emergency management are being researched and developed. Currently, there are toxicological and epidemiological emergency models available. The present paper analyses, from the perspectives related to risk management for emergencies and disasters, the strengths and weaknesses

  18. THE ALGORITHM IMPLEMENTATION OF THE RISK MANAGEMENT SYSTEM ON THE MARKET OF TOURIST SERVICES

    Directory of Open Access Journals (Sweden)

    S. M. Agafonov

    2015-01-01

    Full Text Available Summary. In the article the author conducted a comprehensive assessment of the factors and the level of operational risk, environmental risk, security risk, political risk, marketing risk, economic risk and infrastructure risk market of tourist services in Russia in 2015. As a result of the analysis of risks and measures for risk management, applied in Russian market of tourist services has now been found that the most serious risk is the risk of reducing the demand for travel companies for various reasons, the main of which is the reduction of incomes of the population and the preference of consumers to buy tourism services directly from the enterprises in the hospitality without the participation of tourist companies through the spread of information and communication technologies. It offers innovative risk manag ement tools in the field of tourism companies and the market of tourist services, such as: creating a site with reviews based on tourism and the provision of professional advice on tourism for their customers; collaboration with the insurance companies and the provision of a large insurance tourists from unsuccessful rest and bad experiences; sales booked, but hotel rooms sold abroad at an auction; creation of a network of hotels where you can pay in Russian rubles. An author algorithm implementation of the risk management system on the market of tourist services.

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

    Directory of Open Access Journals (Sweden)

    Porananond, D.

    2014-07-01

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

  20. Extractive waste management: A risk analysis approach.

    Science.gov (United States)

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

    2018-05-01

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