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. 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"…

  5. Capital flight and political risk

    NARCIS (Netherlands)

    Lensink, R; Hermes, N; Murinde, [No Value

    This paper provides the first serious attempt to examine the relationship between political risk and capital flight for a large set of developing countries. The outcomes of the analysis show that in most cases political risk variables do have a statistically robust relationship to capital flight

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

    Science.gov (United States)

    Bankoff, Greg; Hilhorst, Dorothea

    2009-10-01

    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 different perceptions of vulnerability mean in terms of the understanding and practices of two significant sets of actors and stakeholders involved in disaster preparedness and management in the Philippines: the state and NGOs. Approaches to disaster are not just a function of people's perceptions of disaster risk but also of their understanding of the prevailing social order and social relations. Despite a shared vocabulary-which increasingly presents disasters as processes rather than events, takes a proactive rather than a reactive approach, and favours the inclusion of stakeholders rather than solely relying on technocratic management-different realities continue to make for different responses.

  7. Risk, responsibility and political action

    DEFF Research Database (Denmark)

    Halskov Jensen, Elisabeth

    2004-01-01

    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......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...

  8. 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…

  9. 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

  10. 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

  11. 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...

  12. Politics of Manageability

    DEFF Research Database (Denmark)

    Berthou, Sara Kristine Gløjmar

    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......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...... 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...

  13. 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.

  14. Privatization, political risk and stock market development

    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 which gradually resolves uncertainty

  15. 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 ...

  16. '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

  17. Countering Political Risk in Colonial India

    DEFF Research Database (Denmark)

    Lubinski, Christina; Giacomin, Valeria; Schnitzer, Klara

    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......Internment in so-called “enemy countries” was a frequent occurrence in the twentieth century and created significant obstacles for multinational enterprises (MNEs). This article focuses on German MNEs in India and shows how they addressed the formidable challenge of the internment...

  18. 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.

  19. 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

  20. 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.

  1. 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.

  2. Defining Enrollment Management: The Political Frame

    Science.gov (United States)

    Black, Jim

    2004-01-01

    This article describes the elements of Bolman and Deal's (1991) political frame, which are widely discussed and written about among enrollment managers. Whether it is under the guise of managing change, getting things done, understanding institutional politics, or soliciting campus-wide involvement, the issues are often thorny and leave many…

  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. 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.

  5. Political side of risk: a new approach

    Energy Technology Data Exchange (ETDEWEB)

    Sorenson, J.B.; Trauth, C.A. Jr.

    1980-01-01

    The resolution of many of the Nation's most-serious problems today is hampered by our apparent inability to systematically deal with the socio-political dimensions of the societal acceptance of risks in areas of technical development, decision making, and policy formulation. Nowhere is this more apparent than in the energy field. The nature of public hazards has changed drastically during the past half century or so, driving public considerations of risk into the political realm. This has given many of the socio-political parameters underlying individual, group, and institutional perception and acceptance of risk an importance not typically recognized in technical approaches to risk assessment. As a result, there is now a large gap between technically based views of risk and societal views of risk which, the authors feel, is largely responsible for impeding the resolution of the national problems alluded to above. This paper proposes a general approach toward closing this gap, by using indicators from the political system to measure public perceptions and acceptance of risk, as a continuing function of time, to provide the technical community and policy and decision makers a basis from which to more effectively meet societal environmental, safety, and health goals. 15 references, 6 figures.

  6. Integrated supply chain risk management

    OpenAIRE

    Riaan Bredell; Jackie Walters

    2007-01-01

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

  7. Organizational Politics, Social Network, and Knowledge Management

    Science.gov (United States)

    Lee, Hyun Jung; Kang, Sora; Lee, Jongwon

    This research identifies the social relationship and structure among members as well as organization’s political inclination, through which, it also identifies the current status of knowledge management. The result shows that the socio-technological factors (individual, knowledge and IT factors) affect knowledge transfer and the knowledge transfer influences performance and that the members’ relationship based on the political inclination of the organization has a major moderating effect on the above two relation.

  8. 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...

  9. 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.

  10. 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

  11. 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...... communities. To this effect, empirical studies into large-scale East Asian and European port cities is used to illustrate how a shared transnational risk imaginary (e.g. of future sea-level rises) may help spur collective action and new forms of trans-boundary solidarity. Reflecting on such research practices...

  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. 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

  14. PHRONESIS AND POLITICAL ACTION IN MANAGEMENT DEVELOPMENT

    DEFF Research Database (Denmark)

    Larsen, Henry; Iversen, Karina Solsø

    2018-01-01

    This article takes issue with the question of quality improvement in management development. By narratively presenting a concrete experience, it is explored how management development can be located in the Aristotelian virtue of phronesis, which emphasizes the practical and ethical dimensions...... of management. By thinking about management as political action (Arendt, 1958), the question is raised: how can improving the quality of management be related to phronesis (practical judgment) in the sense of creating public spaces within which it becomes possible for managers to engage in reflective processes......? Drawing on the work of Stacey (2012) it is suggested that management development can be thought of as a practice of reflexively taking experience seriously, both individually and collectively. The contribution of this article is a novel way of thinking about quality improvement in management development...

  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. 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.

  17. 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.

  18. 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...

  19. 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...

  20. 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 privatisation in emerging economies has a significant indirect effect on local stock market development through the resolution of political risk. We argue that a sustained privatisation programme represents a major political test which gradually resolves uncertainty

  1. Scope of environmental risk management

    Energy Technology Data Exchange (ETDEWEB)

    O' Riordan, T

    1979-01-01

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

  2. 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)

  3. 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.

  4. '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

  5. NASA's Risk Management System

    Science.gov (United States)

    Perera, Jeevan S.

    2013-01-01

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

  6. 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.

  7. Managing Risks in Dry Port Operations

    OpenAIRE

    Ciortescu Cezar-Gabriel; Pãvãla?cu Narcis Sebastian

    2012-01-01

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

  8. 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

  9. Enterprise risk management

    Energy Technology Data Exchange (ETDEWEB)

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

    2015-07-01

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

  10. Project Risk Management

    Science.gov (United States)

    Jr., R. F. Miles

    1995-01-01

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

  11. Risk management and energy systems

    International Nuclear Information System (INIS)

    Carlevaro, F.; Romerio, F.

    1992-01-01

    In five sessions the following topics were dealt with: risk problems, risk analysis and evaluation tools, risks in industrial societies, risks of energy production, technological risks, ethics and political-social consensus. figs., tabs., refs

  12. 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.

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

    OpenAIRE

    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 political commitment to a market-oriented policy as well as to regulatory and private property rights. We present evidence suggesting that progress in privatization is indeed correlated with impro...

  14. 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

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

    African Journals Online (AJOL)

    Decentralising Natural Resource Management and the Politics of Institutional Resource Management in Uganda's Forest Sub-Sector. ... December 1992, Uganda has implemented wide-ranging public sector reforms as a part of ... insulate decision making over the allocation of licences from higher-level political pressures, ...

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

    NARCIS (Netherlands)

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

    2001-01-01

    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

  17. 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

  18. Water, Politics and Development: Framing a Political Sociology of Water Resources Management

    NARCIS (Netherlands)

    Mollinga, P.P.; Bhat, A.; Cleaver, F.; Meinzen-Dick, R.; Molle, F.; Neef, A.; Subramanian, S.; Wester, P.

    2008-01-01

    EDITORIAL PREAMBLE: The first issue of Water Alternatives presents a set of papers that investigates the inherently political nature of water resources management. A Water, Politics and Development initiative was started at ZEF (Center for Development Research, Bonn, Germany) in 2004/2005 in the

  19. 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.

  20. Risk management at university

    OpenAIRE

    Ivanova, H.; Abramovich, S.

    2013-01-01

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

  1. Management of business risks

    OpenAIRE

    BAZARBAY A.

    2015-01-01

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

  2. Political risk and export promotion: evidence from Germany

    OpenAIRE

    Moser, Christoph; Nestmann, Thorsten; Wedow, Michael

    2006-01-01

    Political risk represents an important hidden transaction cost that reduces international trade. This paper investigates the claim that German public export credit guarantees (Hermes guarantees) mitigate this friction to trade flows and hence promote exports. We employ an empirical trade gravity model, where we explicitly control for political risk in the importing country in order to evaluate the effect of export guarantees. The idea behind export promotion through public export credit agenc...

  3. How politicians make decisions under risk: a political choice experiment

    OpenAIRE

    Enrique Fatás; Tibor Neugebauer; Pilar Tamborero

    2004-01-01

    We report on an experimental study with real-world politicians. These political experts face political choice problems under risk and probability. Thus, we test the frequently observed violations of rational choice theory -the reference point effect, loss aversion, framing effects, and the common ratio effect- with experts from the field. Their choices violate expected utility theory. Nevertheless, they appear to be more rational and less risk averse (loving) in the domain of gains (losses) t...

  4. Rethinking risk management

    International Nuclear Information System (INIS)

    Kloman, H.F.

    1992-01-01

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

  5. 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

  6. Political instability and country risk : new evidence

    NARCIS (Netherlands)

    DeHaan, J; Siermann, CLJ; VanLubek, E

    1997-01-01

    This note presents new estimates of a probit model for the debt rescheduling, using a sample of 65 countries over the period 1984-93. Apart from economic variables, a whole range of indicators for political instability are included in the model as explanatory variables. It turns out, that none is

  7. Safety Politics and Risk Perceptions in Malaysian Industry

    DEFF Research Database (Denmark)

    Wangel, Arne

    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 safety, when compared with the influence of local conditions? What kind of process develops, as local theory about work hazards are formed among workers. And, which are the opportunities for changing working environment institutions in Malaysia? The first part of the book discusses traditions...... 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...

  8. 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.

  9. 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...... by the Government. The political concentration on strategic steering, the concomitant delegation, and management by objectives and results are central components of New Public Management....

  10. 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)

  11. 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.

  12. [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.

  13. 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

  14. Risk management in Takaful

    OpenAIRE

    Akhter, Waheed

    2010-01-01

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

  15. The inherent politics of quality in public park management

    DEFF Research Database (Denmark)

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

    2012-01-01

    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...... 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...

  16. 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.

  17. 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.

  18. Political Public Relations − Media and Information Management

    OpenAIRE

    Tomić, Zoran; Grbavac, Ivana

    2016-01-01

    Political public relations, as one of the PR programmes, has slowly created strategies and tactics for communication with the public and the media. Media management and information management are the most important activities of the political public relations. These activities are frequently connected with non-ethical communication, whose aim is media manipulation and manipulation of the public. Media manipulation is well known as communication spin. These activities are created by governm...

  19. HOW MULTINATIONAL CORPORATIONS USE LOBBYING AND ADVOCACY TO MITIGATE POLITICAL RISKS

    Directory of Open Access Journals (Sweden)

    Violeta Iftinchi

    2018-05-01

    Full Text Available In their international activities multinational corporations (MNCs face various risks. Political risk is one of them. Expropriations, transfer and convertibility restrictions, breach of contracts, acts of terrorism, domestic political violence or other adverse regulatory changes and/or negative government action represent forms of political risks. Incorporating political risk in their risk management strategies becomes a necessity for MNCs in their search for profits and new markets. This article presents how MNCs use lobbying and advocacy as means to engage with governments and politicians in the country of origin (home country, in the country where a MNC has operations (host country or at international level (by creating ties with international organisations in order to mitigate political risks. The case of Repsol and its investment in Argentina is used to demonstrate the application of such tools. The article presents two limitations that might determine the success or failure of MNCs’ lobbying and advocacy activities: governments' unpredictable views towards MNCs and reputational risks. The article has also identified a main difficulty in identifying and examining MNCs way of using lobbying and advocacy to engage with government officials and politicians. This difficulty comes from the informal character of such contacts which makes lobbying and advocacy almost impossible to identify.

  20. Understanding Political Will in Groundwater Management: Comparing Yemen and Ethiopia

    Directory of Open Access Journals (Sweden)

    Frank van Steenbergen

    2015-02-01

    Full Text Available This paper explores the role of politics in water management, in particular, comparing groundwater management in Yemen and Ethiopia. It tries to understand the precise meaning of the often-quoted term 'political will' in these different contexts and compares the autocratic and oligarchic system in Yemen with the dominant party 'developmental state' in Ethiopia. The links between these political systems and the institutional domain are described as well as the actual management of groundwater on the ground. Whereas the Ethiopian state is characterised by the use of hard power and soft ideational power, the system in Yemen relies at most on soft negotiating power. There is a strong link between the political system, the positioning of different parties and access to power, the role of central and local governments, the propensity to plan and vision, the effectiveness of government organisations, the extent of corruption, the influence of informal governance mechanisms, the scope for private initiative and the political interest in groundwater management and development in general. More important than political will per se is political capacity – the ability to implement and regulate.

  1. 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...

  2. Supply Cain Risk Management

    OpenAIRE

    Goodwin, Les

    2011-01-01

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

  3. Supply chain risk management

    OpenAIRE

    Christian Hollstein; Frank Himpel

    2013-01-01

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

  4. 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.

  5. 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…

  6. Risk management overview

    International Nuclear Information System (INIS)

    McGovern, S.

    1995-01-01

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

  7. 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.

  8. The Political Representation of Women in Public Policy Management Councils

    Directory of Open Access Journals (Sweden)

    Lígia Helena Hahn Lüchmann

    2010-06-01

    Full Text Available This work raises some hypotheses to explain the significant presence of women on public policy management councils, which are spaces for discussion and deliberation of policies that have been implemented in Brazil in recent decades. The data about the profile of representatives on these spaces indicates a situation inversely proportional to the low degree of political inclusion of women in traditional spaces of political representation – executive positions, city councils, and state legislatures. There is thus a need to develop new analytical tools to understand the phenomenon of political representation. The data also question a reductive perspective of action and politics, which concludes that there is a low degree of political inclusion of women.

  9. 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…

  10. 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....

  11. 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

  12. 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....

  13. 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

  14. Becoming Criminal: The Cultural Politics of Risk

    Science.gov (United States)

    Armstrong, Derrick

    2006-01-01

    At the same time as youth crime in the UK is falling, there has been an increase in the numbers of young people in custody together with an explosion of social policy initiatives aimed at young people deemed to be "at risk" of becoming criminal and focused upon the prevention of future offending and inclusion in mainstream society. This…

  15. The management object in risk management approaches

    OpenAIRE

    Christiansen, Ulrik

    2013-01-01

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

  16. 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.

  17. 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 ... natural resource management and the modes in which they impact on accountable systems in Uganda. ... the provision of critical resources such as water at the expense of consumers and citizens. ... AJOL African Journals Online.

  18. Managing for Political Corporate Social Responsibility

    DEFF Research Database (Denmark)

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

    2016-01-01

    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...... 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...

  19. Risk Factors as the Reasons of Political Instability

    Directory of Open Access Journals (Sweden)

    Георгий Ильич Марушко

    2010-03-01

    Full Text Available This article refers to the analysis of political instability and instability risk factors, and the mechanism of direct circuits and feedback between them. The best understanding of each of these factors conducts to comprehension of dynamics of change of stability of the state to external and internal sources of stabilization and destabilization.

  20. 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.

  1. Optimizing risk management

    International Nuclear Information System (INIS)

    Kindred, G.W.

    2000-01-01

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

  2. Internal Audit and Risk Management

    OpenAIRE

    Constantin Nicolae Vasile; Alexandru Georgiana

    2011-01-01

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

  3. 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.

  4. 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.

  5. 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.

  6. Making Risk Management Strategic

    DEFF Research Database (Denmark)

    Sax, Johanna; Andersen, Torben Juul

    2018-01-01

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

  7. 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

  8. 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)

  9. 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

  10. Risk management guide

    International Nuclear Information System (INIS)

    Briscoe, G.J.

    1977-06-01

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

  11. Strategies and deficits in the political treatment of technical risks

    International Nuclear Information System (INIS)

    Dierkes, M.; Thienen, V. von.

    1982-01-01

    To seek approaches for an explanation of the public debate about certain technological risk sources, the authors present an analytical model of risk management techniques. It permits to describe traditional patterns of risk management which frequently are not based on rational categories and pursue a limited number of aims in strategic steps. It concentrates on single major events (catastrophies) and the mistigation of such damage and points out that some risk management techniques related to the utilization of new technologies, unlike the complex traditional forms of risk management, are increasingly aimed at preventing damage occurring in the first place. The chances for a more systematic and acceptable risk management satisfying the growing demands of developing modern technologies are discussed. (orig./HP) [de

  12. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

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

  13. INTEGRATED APPROACHES TO GEOPOLITICS AND RISKS IN INTERNATIONAL POLITICS

    OpenAIRE

    Dr. Sheriff Ghali Ibrahim; Dr. Iro Uke

    2016-01-01

    The paper examines the nature and impact of geopolitics on the global oil and gas business. It shows the relationship between politics and what nature provides such as oil and gas and the interplay between and among nations, people and institutions within the framework of geopolitics. The paper adopts the secondary methodology in order to investigate the risks (impact) attached to geopolitics. Findings show that, the concept of geopolitics is so versatile and multidimensional, enveloped by a ...

  14. Towards Integrating Political Ecology into Resilience-Based Management

    OpenAIRE

    Amy Quandt

    2016-01-01

    One of the biggest challenges faced today is how to sustainably manage social-ecological systems for both ecological conservation and human wellbeing. This paper explores two approaches to understanding such systems: resilience thinking and political ecology. Resilience thinking is a framework that emerged over the last 40 years as a management strategy for social-ecological systems, and a resilient social-ecological system is capable of absorbing disturbances and still retaining its basic fu...

  15. Air quality risk management.

    Science.gov (United States)

    Williams, Martin L

    2008-01-01

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

  16. 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

  17. “Resource Curse” and System Problems of Political Management in Russia

    Directory of Open Access Journals (Sweden)

    Vetrenko Inna Aleksandrovna

    2015-12-01

    Full Text Available In the article the analysis of problems in the field of political management in modern Russia is carried out. Initially, the author considers the possibility of explaining the nature of these problems through the theory of the “Resource curse”, but it allows only updating the vulnerable areas of the system of political governance in our country, without identification of their nature. The author highlights such aspects of the current state of the political system of Russia, as ethno-federalism, its risks in modern conditions, state capitalism and examines its manifestations in the economy and politics of the country. From the author’s point of view, the analyzed theory of “resource curse” cannot fully explain and solve the multidimensional problems of political management of modern Russia. There are deeper and more systematic characters than a statement about possession of hydrocarbon resources, the sale of which is in the ground budget replenishment. The attention is focused on the fact that one of the weak points in the political management of modern Russia is a decreased credibility and role of the Parliament, as well as the weak institutionalization of small and medium businesses. The factor causing destabilization of social relations and inefficiency of the system of state administration in the Russian Federation is an established model of ethno-federalism – “Matreshka”. Such system of administrative and territorial structure of the country decreases the values of the statehood. The author highlights that the article largely reflects the positions of those political scientists who try to go beyond logical, but at the same time limited postulates of liberal theories when searching for a way out from difficult socio-political situation in the country. These concepts are ideologized and cannot escape the temptation of stigmatization of Russia as a country “cursed” by its natural resources.

  18. Hazard evaluation and risk management

    International Nuclear Information System (INIS)

    Fritzsche, A.F.

    1986-01-01

    The eigth chapter deals with the actual handling of hazards. The principal issue concerns man's behaviour towards hazards as an individual formerly and today; the evaluation of expected results of both a positive and a negative kind as determined by the individual's values which may differ and vary greatly from one individual to the next. The evaluation of benefit and hazard as well as the risk management resulting from decision-taking are political processes in the democratic state. Formal decision-taking tools play a major role in this process which concerns such central issues like who will participate; how the decision is arrived at; the participation of citizens; specialist knowledge and participation of the general public. (HSCH) [de

  19. Management of radiation risk

    International Nuclear Information System (INIS)

    Hubert, P.

    1996-01-01

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

  20. Managing Chemical & Material Risks

    Science.gov (United States)

    2011-12-01

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

  1. 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

  2. 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)

  3. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

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

  4. 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

  5. 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.

  6. Risk management in nuclear projects

    International Nuclear Information System (INIS)

    Salles, Claudio J.R.

    2002-01-01

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

  7. 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....

  8. Water, Politics and Development: Framing a Political Sociology of Water Resources Management

    Directory of Open Access Journals (Sweden)

    Peter P. Mollinga

    2008-06-01

    Full Text Available The first issue of Water Alternatives presents a set of papers that investigates the inherently political nature of water resources management. A Water, Politics and Development initiative was started at ZEF (Center for Development Research, Bonn, Germany in 2004/2005 in the context of a national-level discussion on the role of social science in global (environmental change research. In April 2005 a roundtable workshop with this title was held at ZEF, sponsored by the DFG (Deutsche Forschungsgemeinschaft/German Research Foundation and supported by the NKGCF (Nationales Komitee für Global Change Forschung/German National Committee on Global Change Research, aiming to design a research programme in the German context. In 2006 it was decided to design a publication project on a broader, European and international basis. The Irrigation and Water Engineering Group at Wageningen University, the Netherlands joined as a co-organiser and co-sponsor. The collection of papers published in this issue of Water Alternatives is one of the products of the publication project. As part of the initiative a session on Water, Politics and Development was organised at the Stockholm World Water Week in August 2007, where most of the papers in this collection were presented and discussed. Through this publication, the Water, Politics and Development initiative links up with other initiatives simultaneously ongoing, for instance the 'Water governance – challenging the consensus' project of the Bradford Centre for International Development at Bradford University, UK. At this point in time, the initiative has formulated its thrust as 'framing a political sociology of water resources management'. This, no doubt, is an ambitious project, methodologically, theoretically as well as practically. Through the compilation of this collection we have started to explore whether and how such an endeavour might make sense. The participants in the initiative think it does, are quite

  9. Continuous Risk Management: An Overview

    Science.gov (United States)

    Rosenberg, Linda; Hammer, Theodore F.

    1999-01-01

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

  10. Political Culture and Risk Analysis: An Outline of Somalia, Tunisia, and Libya

    Science.gov (United States)

    2016-11-21

    unrest, outside stakeholders will always have concerns regarding any signs of institu- tional, economic, political , and social instability . From...predictability, stability , continuity, and security, 40 Political Culture and Risk Analysis MCU Journal serving as a filter for all subsequent (collective...armed conflict and its accompanying instability has remained. 46 Political Culture and Risk Analysis MCU Journal The 30 years preceding 1991 was

  11. 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...

  12. European market integration for gas? Volume flexibility and political risk

    International Nuclear Information System (INIS)

    Asche, Frank; Tveteras, Ragnar; Osmundsen, Petter

    2002-01-01

    Long-term take-or-pay contracts regulating gas exports to the Continent are described and analyzed. We thereafter examine whether the German gas market is integrated. Time series of Norwegian, Dutch and Russian gas export prices to Germany in 1990-1998 are examined. Cointegration tests show that that the different border prices for gas to Germany move proportionally over time, indicating an integrated gas market. We find differences in mean prices, with Russian gas being sold at prices systematically lower than Dutch and Norwegian gas. Among the explanatory factors for price discrepancies are differences in volume flexibility (swing) and perceived political risk

  13. Information Risk Management and Resilience

    Science.gov (United States)

    Dynes, Scott

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

  14. 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)

  15. 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)

  16. 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...

  17. Current Chemical Risk Management Activities

    Science.gov (United States)

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

  18. Managing Complex Environmental Risks

    Energy Technology Data Exchange (ETDEWEB)

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

    2006-09-15

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

  19. 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)

  20. 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

  1. 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.

  2. Refuse and the 'Risk Society': The Political Ecology of Risk in Inter-war Britain.

    Science.gov (United States)

    Cooper, Timothy; Bulmer, Sarah

    2013-05-01

    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.

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

    International Nuclear Information System (INIS)

    Chakraborty, S.

    1992-01-01

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

  4. 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

  5. On the ALARP approach to risk management

    International Nuclear Information System (INIS)

    Melchers, R.E.

    2001-01-01

    There is an increasing trend by regulatory authorities for the introduction of the as low as reasonably practicable (ALARP) approach in dealing with risk management of proposed or existing complex hazardous systems. For these, decisions about acceptability or tolerability of risks and consequences can have very significant financial, economic and other consequences for the proponents. Conversely, there may be very significant social and socio-economic implications. ALARP as a guide to achieving a satisfactory outcome has a certain intuitive appeal for the practical management of industrial and other risks. However, as suggested herein, there are a number of areas of concern about the validity of this approach. These include representativeness, morality, philosophy, political reality and practicality. An important, and in some respects fundamental, difficulty is that the risk acceptance criteria are not fully open to public scrutiny and can appear to be settled by negotiation

  6. Stakeholder Risk Management in Ethical Decision Making

    DEFF Research Database (Denmark)

    Lauesen, Linne Marie

    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...... to these kinds of hybrid organizations, but it is easily adopted and tested for other private business models too. The findings and the conceptualization of the model enhances business ethics in decision making by managing and balancing stakeholder concerns with the same concerns as the traditional risk......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...

  7. 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

  8. 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,…

  9. 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...

  10. Strategies for managing nuclear proliferation: economic and political issues

    International Nuclear Information System (INIS)

    Brito, D.L.; Intriligator, M.D.; Wick, A.E.

    1983-01-01

    Several new ways of approaching nuclear-weapons proliferation emerged at an April 1982 conference at Tulane University. The new ideas use statistical techniques to emphasize political and economic rather than technological determinants, recognize the possibility that proliferation could have a stabilizing influence, shift their emphasis from eliminating to managing proliferation, and focus on regional factors. The four divisions of this book reflect these new trends. Separate abstracts were prepared for the 18 individual papers selected for the Energy Data Base (EDB) and Energy Abstracts for Policy Analysis (EAPA). 6 figures, 23 tables

  11. INTERNAL AUDIT AND RISK MANAGEMENT

    OpenAIRE

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

    2014-01-01

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

  12. Variance risk premia in CO_2 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.

  13. 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

  14. 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

  15. 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

  16. 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.

  17. 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).

  18. 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.

  19. 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...

  20. 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.

  1. The Key to Risk Management: Management

    OpenAIRE

    Adrian E. Tschoegl

    2000-01-01

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

  2. Risk Management in Insurance Companies

    OpenAIRE

    Yang, Xufeng

    2006-01-01

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

  3. Information systems for risk management

    OpenAIRE

    Michael S. Gibson

    1997-01-01

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

  4. 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

  5. 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

  6. Trends in risk management in nuclear industry

    International Nuclear Information System (INIS)

    Kim, Inn Seock

    1996-01-01

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

  7. 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...

  8. 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...

  9. Methods of Financial Risk Management

    Directory of Open Access Journals (Sweden)

    Korzh Natalia

    2016-10-01

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

  10. 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

  11. Does political change affect senior management turnover? An empirical analysis of top-tier local authorities in England

    OpenAIRE

    Boyne, George A.; James, Oliver; John, Peter; Petrovsky, Nicolai

    2010-01-01

    In many political systems the political neutrality of senior managers' tenure is often cherished as a key part of the politics-administration dichotomy and is subject to formal safeguards. We test hypotheses about the impact of political change on senior management turnover drawn from political science, public administration and private sector management theory. Using panel data to control for unobserved heterogeneity between authorities, we find that changes in political party control and lo...

  12. 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.

  13. Trust, emotion, sex, politics, and science: surveying the risk-assessment battlefield.

    Science.gov (United States)

    Slovic, P

    1999-08-01

    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 worldviews, 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. 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

  16. Individual differences in political ideology are effects of adaptive error management.

    Science.gov (United States)

    Petersen, Michael Bang; Aarøe, Lene

    2014-06-01

    We apply error management theory to the analysis of individual differences in the negativity bias and political ideology. Using principles from evolutionary psychology, we propose a coherent theoretical framework for understanding (1) why individuals differ in their political ideology and (2) the conditions under which these individual differences influence and fail to influence the political choices people make.

  17. 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.

  18. 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...

  19. RISK MANAGEMENT IN CUSTOMS CONTROL

    Directory of Open Access Journals (Sweden)

    Elena Valerievna Drobot

    2017-06-01

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

  20. 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.

  1. 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.

  2. Risk management of precious metals

    NARCIS (Netherlands)

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

    2010-01-01

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

  3. 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.

  4. 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…

  5. RISKS MANAGEMENT: NEW LITERATURE REVIEW

    OpenAIRE

    Ennouri Wissem

    2013-01-01

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

  6. 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...

  7. 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...

  8. Continuous Risk Management at NASA

    Science.gov (United States)

    Hammer, Theodore F.; Rosenberg, Linda

    1999-01-01

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

  9. "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.

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

    OpenAIRE

    Szabo Alina

    2012-01-01

    Purpose: The objective of this paper is to offer an overview over risk management cycle by focusing on prioritization and treatment, in order to ensure an integrated approach to risk management and assessment, and establish the ‘top 8-12’ risks report within the organization. The interface with Internal Audit is ensured by the implementation of the scoring method to prioritize risks collected from previous generated risk report. Methodology/approach: Using evidence from other research in ...

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

    International Nuclear Information System (INIS)

    Collins, John

    2009-01-01

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

  12. 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.

  13. 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

  14. The political economy of management knowledge : management texts in English healthcare organizations

    OpenAIRE

    Ferlie, Ewan; Ledger, Jean; Dopson, Sue; Fischer, Michael D.; Fitzgerald, Louise; McGivern, Gerry; Bennett, Christopher P.

    2016-01-01

    Have generic management texts and associated knowledges now extensively diffused into public services organizations? If so, why? Our empirical study of English healthcare organizations detects an extensive presence of such texts. We argue that their ready diffusion relates to two macro-level forces: (i) the influence of the underlying political economy of public services reform and (ii) a strongly developed business school/management consulting knowledge nexus. This macro perspective theoreti...

  15. Nuclear safety culture and integrated risk management

    International Nuclear Information System (INIS)

    Joksimovich, V.; Orvis, D.D.

    1993-01-01

    A primary focus of nuclear safety is the prevention of large releases of radioactivity in the case of low-probability severe accidents. An analysis of the anatomy of nuclear (Chernobyl, Three Mile Island Unit 2) and nonnuclear (Challenger, Bhopal, Piper Alpha, etc.) severe accidents yields four broad categories of root causes: human (operating crew response), machine (design with its basic flaws), media (natural phenomena, operational considerations, political environment, commercial pressures, etc.)-providing triggering events, and management (basic organizational safety culture flaws). A strong management can minimize the contributions of humans, machines, and media to the risk arising from the operation of hazardous facilities. One way that management can have a powerful positive influence is through the establishment of a proper safety culture. The term safety culture is used as defined by the International Atomic Energy Agency's International Safety Advisory Group

  16. Selecting Copulas for Risk Management

    NARCIS (Netherlands)

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

    2006-01-01

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

  17. 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

  18. The Supply Chain Risk Management

    OpenAIRE

    Skitsko Volodymyr I.; Voynikov Mykola Yu.

    2018-01-01

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

  19. Risk management for whales

    OpenAIRE

    Cont, R; Wagalath, L

    2016-01-01

    We propose framework for modeling portfolio risk which integrates market risk with liquidation costs which may arise in stress scenarios. Our model provides a systematic method for computing liquidation-adjusted risk measures for a portfolio. Calculation of Liquidation-adjusted VaR (LVaR) for sample portfolios reveals a substantial impact of liquidation costs on portfolio risk for portfolios with large concentrated positions.

  20. 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.

  1. Business risk management

    Energy Technology Data Exchange (ETDEWEB)

    Cosby, C., E-mail: Christine.cosby@brucepower.com [Bruce Power, Tiverton, ON (Canada)

    2015-07-01

    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. 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.

  3. Public and political issues in HLW management: The Spanish approach

    International Nuclear Information System (INIS)

    Gonzalez, V.; Molina, M.

    1993-01-01

    ENRESA (Empresa Nacional de Residuos Radiactivos, S.A.), is a State-owned company, founded in 1985 and is responsible for radioactive waste management in Spain. ENRESA's activities are carried out in accordance with a General Radioactive Waste Plant approved by the Spanish Government. In Spain, as in most countries, the public is concerned about many of the activities involving radioactive or rad-waste management; this concern arises for different reasons, but mainly due to lack of information on the matter. This situation leads to the information available being misused by certain politicians, green groups and media, which serves to increase the distrust with which the public sometimes views responsible companies and institutions. At the root of both these problems is a lack of political consensus regarding development of the activity. To gain public acceptance, it would be necessary to develop a long-term information policy, since in the field of communications results are only ever 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 disused uranium mill in which remedial actions are currently being performed. 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

  4. 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.

  5. 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

  6. 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 ...

  7. 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.

  8. 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.

  9. 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

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

    Energy Technology Data Exchange (ETDEWEB)

    Oksay, Serhan, E-mail: serhano@khas.edu.t [Kadir Has University, Department of Business Administration (Turkey); Iseri, Emre, E-mail: eiseri@khas.edu.t [Kadir Has University, Department of International Relations, Cibali Campus, Kadir Has Caddesi 34083, Istanbul (Turkey)

    2011-05-15

    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: {yields} This paper evaluates Turkish energy policies through risk management scope and takes an alternative approach on calculating electricity costs by factoring in political risks. {yields} The cost of traditional fossil-based energy turns out to be more expensive than renewable energy. {yields} The paradigm shift towards renewable energy policies could

  11. 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.

  12. 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.

  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. Improving Operational Risk Management Using Business Performance Management Technologies

    OpenAIRE

    Bram Pieket Weeserik; Marco Spruit

    2018-01-01

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

  15. The Theme of Risk Management

    Directory of Open Access Journals (Sweden)

    Chua, D. K. H.

    2014-07-01

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

  16. Tailoring Risk Management in Design

    DEFF Research Database (Denmark)

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

    2018-01-01

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

  17. 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.

  18. POLITICAL RISK ON THE FINANCIAL MARKET The problem of adequate scientific assessment of business operations - the naivety of economists

    Directory of Open Access Journals (Sweden)

    Leszek Dziawgo

    2014-04-01

    Full Text Available One of the significant problems of a modern economy and economics is political risk. A destructive influence of politics on the financial market cannot be ignored. It is necessary to indicate some selected specific problems of the financial market connected with politics in the area of: public finance (including EU, monetary policy and capital market. Nowadays, the scale and dynamics of political interference in the economy and finance leads to the problem of rationality in business activities. Moreover, many hidden political factors change the political risk into immeasurable political uncertainty.

  19. 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 ...

  20. 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...

  1. 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...

  2. Knowledge management in support of enterprise risk management

    OpenAIRE

    Rodriguez, Eduardo; Edwards, John S.

    2014-01-01

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

  3. 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.

  4. 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)

  5. The NASA risk management program

    International Nuclear Information System (INIS)

    Buchbinder, B.; Philipson, L.L.

    1989-01-01

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

  6. 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...

  7. Risk Management and Value Creation

    DEFF Research Database (Denmark)

    Andersen, Torben Juul; Roggi, Oliviero

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

  8. Risk assessment and risk management of mycotoxins.

    Science.gov (United States)

    2012-01-01

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

  9. 76 FR 45724 - Clearing Member Risk Management

    Science.gov (United States)

    2011-08-01

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

  10. 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.

  11. Producers' Complex Risk Management Choices

    NARCIS (Netherlands)

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

    2008-01-01

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

  12. 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...

  13. 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.

  14. Price Risk and Risk Management in Agriculture

    Directory of Open Access Journals (Sweden)

    Udo Broll

    2013-06-01

    Full Text Available This note studies the risk-management decisions of a risk-averse farmer. The farmer faces multiple sources of price uncertainty. He sells commodities to two markets at two prices, but only one of these markets has a futures market. We show that the farmer’s optimal commodity futures market position, i.e., a cross-hedge strategy, is actually an over-hedge, a full-hedge, or an under-hedge strategy, depending on whether the two prices are strongly positively correlated, uncorrelated, or negatively correlated, respectively.

  15. 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...

  16. Energy price risk management

    International Nuclear Information System (INIS)

    Evans, J.W.G.

    1998-01-01

    While long term, fixed price contracts for fuel procurement and export of excess power may lock in the economics of a CHP plant, these do not necessarily give the best pricing opportunities that may exist during the life of those contracts. A more prudent approach may be to vary the length of the contracts and markets are now developing in gas and electricity to assist in the management of such a portfolio. (Author)

  17. Underground risk management information systems

    Energy Technology Data Exchange (ETDEWEB)

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

    2006-03-15

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

  18. Risk management for noncombustion wastes

    International Nuclear Information System (INIS)

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

    1991-01-01

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

  19. 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

  20. 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...

  1. 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.

  2. 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

  3. Risk management through concurrency

    International Nuclear Information System (INIS)

    Childress, J.R.; Briant, V.B.

    1991-01-01

    More than ever before, management and technical professionals are concerned with the subtle and dynamic relationships between safety and performance in complex and hazardous industries. This is certainly true in the nuclear power industry. With the US electric energy industry on the verge of deregulation and increased competition, and with a virtual stoppage on building new nuclear power plants, the increasing demand for reliable sources of efficient electric energy is pressing the nuclear utilities to increase production. At the same time, public sentiment and regulatory pressures are increasing their focus on safety at all costs. The purpose of this paper is to present a proven approach to creating a new work culture for improved nuclear safety and performance. The concepts and material which make up this paper have been taken from both authors experience, research, and consulting in the nuclear industry for several years, as well as from over 20 years of consulting work on the relationships between organizational behavior, culture, and productivity

  4. Conflict management among irregular immigrants: the micro politics of intercultural respect.

    OpenAIRE

    Clough, Paul; Works in Progress Seminars Series

    2010-01-01

    A talk in the Works in Progress Seminars Series with the title of "Conflict management among irregular immigrants: the micro politics of intercultural respect". This talk is given by Prof Paul Clough.

  5. 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.

  6. Managing economic risks through simulation

    International Nuclear Information System (INIS)

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

    1994-01-01

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

  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. Branding and the Risk Management Imperative

    Directory of Open Access Journals (Sweden)

    Fournier Susan

    2018-05-01

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

  9. Branding and the Risk Management Imperative

    OpenAIRE

    Fournier Susan; Srinivasan Shuba

    2018-01-01

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

  10. Supply Chain Risk Management

    OpenAIRE

    Babková, Ivana

    2008-01-01

    Práce se zabývá problematikou řízení rizika v logistických řetězcích se zaměřením na jeden konkrétní článek řetězce. Definuje základní oblasti risk managementu, jeho hlavní aspekty a systém spojitého plánování. Zabývá se bezpečností práce v pojetí EU, České republiky a Velké Británie. V aplikační části uvádí řízení rizika v jednom článku logistického řetězce, skladu poskytovatele logistických služeb ve Velké Británii.

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

    Science.gov (United States)

    2016-09-30

    www.acq.osd.mil/dsb/reports/ADA552760.pdf. iii P.P. Hearn Jr. et al., “Global GIS Database; Digital Atlas of Africa,” USGS Numbered Series, Data...Series, (2001), http://pubs.er.usgs.gov/publication/ds62B. iv U.S. Geological Survey World Conventional Resources Assessment Team, “USGS Digital ...Retrenchment and the Exercise of Citizenship in Africa,” Comparative Political Studies 44, 9 (2011): 1238-1266; Jennifer N. Brass, “Blurring Boundaries

  12. Risk management for industrial safety

    International Nuclear Information System (INIS)

    Novogno, A.

    1989-01-01

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

  13. 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.

  14. 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...

  15. [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.

  16. 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

  17. Developing Risk Management as a Competitive Capability

    OpenAIRE

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

    2013-01-01

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

  18. 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

  19. RISK MANAGEMENT USING PROJECT RECON

    Science.gov (United States)

    2016-11-28

    centralized database . • Project Recon (formerly Risk Recon) is designed to be used by all Program Management Offices, Integrated Project Teams and any...Create growth plans to proactively capture benefits • Customize reports to group opportunities by programmatic, technical, business, contracting, and

  20. 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...

  1. 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

  2. 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.

  3. PROJECT MANAGER SKILLS, RISK MANAGEMENT TOOLS

    Directory of Open Access Journals (Sweden)

    Vladut Iacob

    2013-12-01

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

  4. 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

  5. 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

  6. 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.

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

    African Journals Online (AJOL)

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

  8. Risk Management of NASA Projects

    Science.gov (United States)

    Sarper, Hueseyin

    1997-01-01

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

  9. [Debating disease: the risk factor concept in political economic and scientific consideration, 1968 to 1986].

    Science.gov (United States)

    Madarász, Jeannette

    2009-01-01

    The risk factor concept was developed in American epidemiological studies ongoing since the 1940s researching the causes of chronic cardiovascular diseases. By looking at the depiction of this model in a variety of media in Germany between 1968 and 1986 we can put its close interaction with contemporary socio-political debates under scrutiny. Thereby, a strong connection between the various agents' political and economic interests on the one hand and the incorporation of the risk factor concept into their specific agendas will become apparent. The risk factor concept was not fundamentally changed in the process but it was adapted to contemporary conditions and political constellations. Thereby, so it will be argued, the medical uses of the model, especially regarding the prevention of chronic cardiovascular disease, were forced into the background of public debates.

  10. Political risks of hydrocarbon deposit development in the Arctic seas of the Russian Federation

    International Nuclear Information System (INIS)

    Bolsunovskaya, Y A; Boyarko, G Yu; Bolsunovskaya, L M

    2014-01-01

    Nowadays the process of Arctic development has a long-term international cooperation character. Economic and geopolitical interests of both arctic and non-arctic countries meet in the region. Apart from resource development issues, there are problems concerning security, sustainable development and some others issues conditioned by climate and geographical characteristics of the region. Strategic analysis of political risks for the Russian Federation is carried out. The analysis reveals that political risks of hydrocarbon deposits development in the RF arctic seas appear as lack of coordination with arctic countries in solving key regional problems, failure to follow international agreements. Such inconsistency may lead to political risks, which results in strained situation in the region

  11. 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

  12. 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.

  13. 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”.

  14. The managers’ moment in Dutch politics: A case study of management as politics in the 1980s and 1990s in Western-Europe

    NARCIS (Netherlands)

    Keulen, S.; Kroeze, R.

    2012-01-01

    This paper investigates the us of management as form of political leadership in the In the 1980s and 1990s via the casestudy of The Netherlands. In those years a successful political leader was a ‘manager’, who communicated a managerial ideology and introduced businesslike methods in government and

  15. 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

  16. 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...... appropriate "safe" thresholds of ingredients, the food industry must take increasingly proactive steps to avoid direct or cross-contamination as well as ensuring that their products are appropriately labeled and identified for those at risk. This book covers a range of critical topics in this area, including...... indication of what is causing that number to continue to grow, food producers, packagers and distributors need to appropriately process, label and deliver their products to ensure the safety of customers with allergic conditions. By identifying risk factors during processing as well as determining...

  17. Power, politics, and top management team characteristics: do they matter?

    Science.gov (United States)

    Gerowitz, M B

    1998-01-01

    This study assesses the contributions of the leader power and top management team characteristics to perceived strategic capability. Low age heterogeneity and low tenure heterogeneity were found to have a positive association with perceived adaptability. High diversity in educational specialization was also found to be positively associated with adaptability. Top management perceptions of CEO power were, however, lower among high adaptors. Implications for leadership research, senior management recruitment, and the design of management development for top management teams are discussed.

  18. 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.

  19. 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...

  20. 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...

  1. 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.

  2. 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.

  3. Probabilistic risk assessment as an aid to risk management

    International Nuclear Information System (INIS)

    Garrick, B.J.

    1982-01-01

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

  4. 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.

  5. Considerations on Integrating Risk and Quality Management

    Directory of Open Access Journals (Sweden)

    Maria POPESCU

    2011-03-01

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

  6. 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,…

  7. 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.)

  8. Managing risks and hazardous in industrial operations

    Energy Technology Data Exchange (ETDEWEB)

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

    1996-12-31

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

  9. 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

  10. 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....

  11. Risk management in microfinance institutions

    OpenAIRE

    Batin, Artyom

    2014-01-01

    In the following paper I have tried to find the correlation between type of ownership and effective risk management in the operations of microfinance institutions in India. The results found are consistent with the current findings of how the type of ownership does not impact both the financial or social performance of MFIs. Dataset of 72 MFIs was acquired from the Microfinance Information Exchange on MFIs and evaluated using an OLS regression. The results show that the type of ownership insi...

  12. 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

  13. 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

  14. 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

  15. 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

  16. 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.

  17. 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.

  18. Are needs to manage uncertainty and threat associated with political conservatism or ideological extremity?

    Science.gov (United States)

    Jost, John T; Napier, Jaime L; Thorisdottir, Hulda; Gosling, Samuel D; Palfai, Tibor P; Ostafin, Brian

    2007-07-01

    Three studies are conducted to assess the uncertainty- threat model of political conservatism, which posits that psychological needs to manage uncertainty and threat are associated with political orientation. Results from structural equation models provide consistent support for the hypothesis that uncertainty avoidance (e.g., need for order, intolerance of ambiguity, and lack of openness to experience) and threat management (e.g., death anxiety, system threat, and perceptions of a dangerous world) each contributes independently to conservatism (vs. liberalism). No support is obtained for alternative models, which predict that uncertainty and threat management are associated with ideological extremism or extreme forms of conservatism only. Study 3 also reveals that resistance to change fully mediates the association between uncertainty avoidance and conservatism, whereas opposition to equality partially mediates the association between threat and conservatism. Implications for understanding the epistemic and existential bases of political orientation are discussed.

  19. 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.

  20. Risk management in product innovation projects

    NARCIS (Netherlands)

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

    1993-01-01

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

  1. Drug utilization research and risk management

    NARCIS (Netherlands)

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

    2016-01-01

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

  2. 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...

  3. 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

  4. The risk to be reasonably accepted - an unreasonable demand on science, society, politics?

    International Nuclear Information System (INIS)

    Weber, B.

    1986-01-01

    Political ethics is a concept that is increasingly emerging in current public debate about the risks of technolgy. A risk that cannot be limited in time or in space, the risk we have got used to call the 'risk to be reasonably accepted', seems unacceptable. Energy generation and supply may not be given higher priority than life and health. It would be high time to prove courage and efficiency by opposing the 'nuclear laws of inertia', stopping nuclear technoloy, and admitting one's own feeling of insecurity. (DG) [de

  5. 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.

  6. THEORETICAL BASIS FOR MANAGEMENT OF PERSONNEL RISKS

    OpenAIRE

    Haliashova, Katsiaryna

    2017-01-01

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

  7. 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...

  8. 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.

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

    Directory of Open Access Journals (Sweden)

    Kyungmo Park

    2017-02-01

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

  10. 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...

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

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

    ... a well defined strategic and program framework and sound management processes; and ... A Risk Management Committee supports and monitors the Centre's ... placed on our highly qualified staff in our management of human resources.

  12. 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

  13. 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

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

    Science.gov (United States)

    Fernandez, M.; Ruegg, J.

    2012-04-01

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

  15. Climate change. Managing the risks

    International Nuclear Information System (INIS)

    Swart, R.J.

    1994-01-01

    In order to address the key question if a targeted approach to climate change response is feasible, different aspects of this question are analyzed. First, the scientific and political aspects of different options to determine specific long-term objectives for climate change are evaluated on the basis of the current scientific insights and the experiences over the last 5 years to develop climate objectives. Preliminary directions for such objectives are given. Next, important analytical tools are discussed that can be applied to analyze the different options and their implications in detail. In order to evaluate the implications of mitigation options, strategies that are consistent with the preliminary climate goals are analyzed in the third part. In chapter 2, the concept of long-term environmental goals, derived from critical levels of climate change, is discussed. Also a historical perspective is provided. A new, systematic regionalized and risk-based approach to elaborate the ultimate objective of the Framework Convention on Climate Change is proposed. In chapter 3 scenarios and integrated models are discussed. Central is the description of scenarios that were developed with RlVM's Integrated Model to Assess the Greenhouse Effect (IMAGE) and the US-EPA's Atmospheric Stabilization Framework (ASF). In chapter 4 potential long-term international emissions control strategies for the different sources and sinks of the most important greenhouse gases are analyzed. Carbon dioxide from energy, carbon dioxide from deforestation, and non-CO 2 greenhouse gases are dealt with subsequently. The dissertation ends with general conclusions and recommendations for the further design of a targeted approach to climate change response, the development of analytical tools to support policy development in the area of climate change, and strategies that are consistent with preliminary long-term environmental goals. 66 figs., 8 tabs., 417 refs., 1 appendix

  16. 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...

  17. 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.

  18. 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.

  19. PERFORMANCE IN INTERNAL CONTROL AND RISK MANAGEMENT

    Directory of Open Access Journals (Sweden)

    JELER (POPA IOANA

    2017-06-01

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

  20. 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.

  1. 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...

  2. 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…

  3. 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…

  4. 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

  5. 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...

  6. Probability concepts in quality risk management.

    Science.gov (United States)

    Claycamp, H Gregg

    2012-01-01

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

  7. 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.

  8. 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

  9. 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.)

  10. 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...

  11. 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.

  12. RISK MANAGEMENT OF GERMAN FRUIT PRODUCERS

    Directory of Open Access Journals (Sweden)

    Annkatrin PORSCH

    2018-03-01

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

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

    Science.gov (United States)

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

    2013-11-01

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

  14. 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

  15. [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.

  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. 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.

  18. 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.

  19. Contradictions Between Risk Management and Sustainable Development

    International Nuclear Information System (INIS)

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

    2006-01-01

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

  20. Risk management with options and futures under liquidity risk

    OpenAIRE

    Adam-Müller, A F A; Panaretou, A

    2009-01-01

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

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

    DEFF Research Database (Denmark)

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

    2018-01-01

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

  2. Demographics and Volatile Social Security Wealth: Political Risks of Benefit Rule Changes in Germany

    OpenAIRE

    Christoph Borgmann; Matthias Heidler

    2003-01-01

    In this paper we address the question how the generosity of the benefit rule of the German public pension system has changed during the past three decades and how this development can be explained by demographic changes. Firstly, we illustrate the political risk of benefit rule changes for individuals. We find that depending on the birth year and the considered scenario the relative losses vary between 30 and nearly 60 percent. Secondly, we estimate how demographic developments have triggered...

  3. Political Risk and Foreign Exchange Rates: an Efficient-Market Approach

    OpenAIRE

    Jean-Claude Cosset; Bruno Doutriaux de la Rianderie

    1985-01-01

    This paper examines the reaction of the foreign exchange market to the announcement of changes in the business environment of a country. Our results suggest that sampled political risk news conveys important information about a country's investment climate and causes its currency's exchange rate to vary. It appears, however, that the reaction of the foreign exchange market is more dramatic for unfavorable events than for favorable events. The evidence presented is also consisted with the hypo...

  4. Science, Politics, and Watershed Management: Another Task for Hydrologists

    Science.gov (United States)

    Wise, W. R.

    2002-05-01

    The lowest common denominator in hydrology should be "common" sense. The basic concepts that need to be addressed during watershed management are tractable by the general public when presented effectively. Of course the details should be left to the professionals. An uninformed public will feel disenfranchised when "experts" pummel it with technical content beyond its comfort level. To be effective, the hydrologic professional needs to be competent to perform the required analyses and prepared to win the trust of all concerned parties. In the adversarial roles played by developers and growth opponents, distrust reigns supreme. Usually this distrust is fed first and foremost by a lack of communication between the parties. In today's litigious environment, the results can be maddening. The author's experience in high profile hydrologic projects have infused him with the knowledge that effective communication is a critical lubricant to the watershed management process. It is the hydrologic community's duty to facilitate the policy makers' genuine education on watershed processes. The former must act now, if previous problems are not to be repeated.

  5. 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…

  6. 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.

  7. 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

  8. 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

  9. 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

  10. 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

  11. Risk factor management: antiatherogenic therapies.

    Science.gov (United States)

    Gielen, Stephan; Sandri, Marcus; Schuler, Gerhard; Teupser, Daniel

    2009-08-01

    Despite the advances in interventional techniques, the management of stable atherosclerosis remains the domain of optimal guideline-oriented therapy. Recent studies on the effects of aggressive lipid lowering on atheroma volume changes using intravascular ultrasound indicate that it is possible to achieve atherosclerosis regression by reaching low-density lipoprotein (LDL) levels less than 75 mg/dl. The pleiotropic anti-inflammatory effects of statins contribute to the reduction of cardiovascular (CV) event observed with aggressive lipid lowering. As a second important strategy to prevent disease progression, lifestyle changes with regular physical exercise are capable of halting the atherosclerotic process and reducing angina symptoms and CV events. Optimal medical therapy, a healthy lifestyle with regular physical exercise, and coronary interventions are not mutually exclusive treatment strategies. Over the last few decades, both have proved to be effective in significantly reducing the CV mortality in the Western world. However, risk factor modification contributed to at least half the effect in the reduction of CV mortality. This figure provides an estimate of what could be achieved if we were to take risk factor modification more seriously - especially in the acute care setting. The knowledge is there: today we have a better understanding on how to stop progression and even induce regression of atherosclerosis. Much research still needs to be done and will be done. In the meantime, however, our primary focus should lie in implementing what is already known. In addition, it is essential not just to treat CV risk factors, but also to treat them to achieve the target values as set by the guidelines of European Society of Cardiology.

  12. 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.

  13. 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.

  14. 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.

  15. Risk and/or resilience management

    Directory of Open Access Journals (Sweden)

    Jean-Paul Louisot

    2015-06-01

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

  16. 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

  17. 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.

  18. 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.

  19. 77 FR 13585 - Electricity Subsector Cybersecurity Risk Management Process Guideline

    Science.gov (United States)

    2012-03-07

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

  20. Continuous Risk Management: A NASA Program Initiative

    Science.gov (United States)

    Hammer, Theodore F.; Rosenberg, Linda

    1999-01-01

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

  1. Software And Systems Engineering Risk Management

    Science.gov (United States)

    2010-04-01

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

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

    African Journals Online (AJOL)

    Implications of Risk Management Practices on Financial Performance of Sugar ... The respondents were functional heads of the companies under the survey. ... of downside losses in order to minimize the negative impact of risk on returns.

  3. RISK MANAGEMENT MECHANISM OF GRAIN PROCESSING ENTERPRISES

    Directory of Open Access Journals (Sweden)

    I. P. Bogomolova

    2013-01-01

    Full Text Available In article the main characteristics of a control system by risks (the purpose, properties, the principles, requirements are defined, and also the possible mechanism of risk management of the flour-grinding enterprises is considered.

  4. Business managers turn to risk assessment

    International Nuclear Information System (INIS)

    Allen, Frank

    1993-01-01

    Risk assessments have evolved to help technical managers in nuclear and other industries to design and operate plant with safety in mind. However, they are now developing into the area of business management. (author)

  5. 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...

  6. Business resilience: Reframing healthcare risk management.

    Science.gov (United States)

    Simeone, Cynthia L

    2015-09-01

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

  7. 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

  8. 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 .

  9. 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...

  10. PERFORMANCE IN INTERNAL CONTROL AND RISK MANAGEMENT

    OpenAIRE

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

    2017-01-01

    The purpose of this article is to highlight the importance of internal control and risk management. In practice, economic entities meet a variety of risks that have the origins from the internal environment or the external one. Although there are different of views on addressing the concept of risk - threats or opportunities, event or action, accordingly uncertain, proposed by specialists in risk management in this article we try to present these issues and identify techniques to ...

  11. 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.

  12. 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

  13. Management Ownership and Risk-Shifting Investment

    OpenAIRE

    Nobuyuki Teshima

    2012-01-01

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

  14. Feedback on flood risk management

    Science.gov (United States)

    Moreau, K.; Roumagnac, A.

    2009-09-01

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

  15. 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.

  16. Risk Management for the International Space Station

    Science.gov (United States)

    Sebastian, J.; Brezovic, Philip

    2002-01-01

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

  17. Social Risk and the Management of MNCs

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    2015-01-01

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

  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. 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.

  20. 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.

  1. 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.)

  2. Development of computerized risk management tool

    International Nuclear Information System (INIS)

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

    1997-01-01

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

  3. 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.

  4. Public education and risk management

    OpenAIRE

    Tabachnick, J.; McCartan, K. F.

    2017-01-01

    This chapter will highlight research and practice internationally on ways to educate the public regarding sex abuse and how successful they have been. The chapter will cover issues including the relationship between experts and the public, public criminology, media narratives as well as engagement and political positions, and debates, on this topic. The chapter will highlight ways in which society has tried to engage on the topic of sexual harm (including, bystander intervention, government p...

  5. 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)

  6. Financial risk management of pharmacy benefits.

    Science.gov (United States)

    Saikami, D

    1997-10-01

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

  7. 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...

  8. 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)

  9. 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.

  10. Data Management in Metagenomics: A Risk Management Approach

    Directory of Open Access Journals (Sweden)

    Filipe Ferreira

    2014-07-01

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

  11. Overview of Risk Management for Engineered Nanomaterials

    International Nuclear Information System (INIS)

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

    2013-01-01

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

  12. Overview of Risk Management for Engineered Nanomaterials

    Science.gov (United States)

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

    2013-04-01

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

  13. 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

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

    Science.gov (United States)

    Neumann, Stefan

    2015-01-01

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

  15. ANALYSIS AND MANAGEMENT RISK IN INTERNATIONAL AFFAIRS

    OpenAIRE

    Lăpăduşi Mihaela Loredana,; Căruntu Constantin

    2009-01-01

    The risk is one of the most controversial issues for all persons involved both in domestic and international world economic affairs. The need to analyze, understand and effectively manage risk is growing, the ultimate aim being to obtain a higher degree of successThe risk means exposure to an uncertain future, the opportunity to face danger or suffering a loss ( "Risk - possibility of loss or injury", Webster's, 1995) or the chance that things go wrong ( "Risk is the change that something wil...

  16. 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.

  17. Managing flood risks in the Mekong Delta

    NARCIS (Netherlands)

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

    2018-01-01

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

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

    OpenAIRE

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

    2007-01-01

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

  19. 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

  20. Environmental asset management: Risk management systems

    CSIR Research Space (South Africa)

    Naudé, Brian

    2017-07-01

    Full Text Available bnaude@csir.co.za Charl Petzer Council for Scientific and Industrial Research PO Box 395 Pretoria 0001 South Africa +2712 841 4292 CPetzer1@csir.co.za Copyright © 2017 by B Naudé, C Petzer. Published and used by INCOSE with permission.... Charl Petzer is registered professional engineer with 30 years of programme/project management as well as systems engineering experience in military and other environments. He has been the lead systems engineer, as well as programme manager on several...

  1. 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.

  2. 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...

  3. 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

  4. 78 FR 4848 - Social Media: Consumer Compliance Risk Management Guidance

    Science.gov (United States)

    2013-01-23

    ...: Consumer Compliance Risk Management Guidance AGENCY: Federal Financial Institutions Examination Council... Media: Consumer Compliance Risk Management Guidance'' (guidance). Upon completion of the guidance, and... management practices adequately address the consumer compliance and legal risks, as well as related risks...

  5. 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.

  6. 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

  7. 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:...

  8. Examining the realities of risk management

    International Nuclear Information System (INIS)

    Garrick, B.J.

    1985-01-01

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

  9. 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.

  10. 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.

  11. Risk Management Practices of Multinational and indigenous ...

    African Journals Online (AJOL)

    Construction projects' high uncertainty rates make them unattractive to non-risk takers. Construction companies are therefore necessarily risk takers, albeit, to varying degrees. This study made an inquiry into the risk management (RM) practices of multinational and indigenous construction companies (MCCs and ICCs, ...

  12. 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.

  13. 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?

  14. 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

  15. 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

  16. 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

  17. 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…

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

    International Nuclear Information System (INIS)

    Iden, D.C.

    1985-01-01

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

  19. 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

  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. [What Surgeons Should Know about Risk Management].

    Science.gov (United States)

    Strametz, R; Tannheimer, M; Rall, M

    2017-02-01

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

  2. 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.

  3. 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.

  4. 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.

  5. 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.

  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. The Strategic-Renovation Banks’ Risks Management

    Directory of Open Access Journals (Sweden)

    Yeremeychuk Raisa A.

    2017-04-01

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

  8. 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...

  9. Risk management; Maitriser le risque

    Energy Technology Data Exchange (ETDEWEB)

    Magne, L

    1999-07-01

    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)

  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. 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

  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. Risk management in Swedish hedge funds

    OpenAIRE

    Fri, Samuel; Nilsson, Joakim

    2011-01-01

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

  14. Evaluating risk management strategies in resource planning

    International Nuclear Information System (INIS)

    Andrews, C.J.

    1995-01-01

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

  15. Risk management and analysis: risk assessment (qualitative and quantitative)

    OpenAIRE

    Valentin Mazareanu

    2007-01-01

    We use to define risk as the possibility of suffering a loss. Starting this, risk management is defined as a business process whose purpose is to ensure that the organization is protected against risks and their effects. In order to prioritize, to develop a response plan and after that to monitor the identified risks we need to asses them. But at this point a question is born: should I choose a qualitative approach or a quantitative one? This paper will make a short overview over the risk eva...

  16. 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

  17. 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.

  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. 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 ...

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

    Directory of Open Access Journals (Sweden)

    J. Chibayambuya

    2007-12-01

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

  1. 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

  2. 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

  3. 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

  4. The politics of establishing catchment management agencies in South Africa: the case of the Breede-Overberg Catchment Management Agency

    Directory of Open Access Journals (Sweden)

    Richard Meissner

    2016-09-01

    Full Text Available We reflect on the politics of establishing catchment management agencies in South Africa with a specific focus on the Breede-Overberg Catchment Management Agency (BOCMA, which was recently replaced by the Breede-Gouritz Catchment Management Agency (BGCMA. We do so by applying the framework of adaptive comanagement and its institutional prescriptions: collaboration, experimentation, and a bioregional approach. We start by introducing the history of this catchment management agency (CMA and then describe the establishment of CMAs in South Africa in general and that of BOCMA in particular. We follow the framework for rule types and types of river basin organizations set out by the editors of this special feature with reference to adaptive comanagement where applicable. We then discuss the politics and strategies involved in the introduction of the CMA concept to the National Water Act and the latest developments around these institutions in South Africa. This is followed by reflections on what can be surmised about BOCMA's democratic functioning and performance to date. We conclude by reflecting on the future of operations of the new BGCMA and CMAs in South Africa in general. While our research shows that BOCMA's establishment process has featured several elements of adaptive comanagement and its institutional prescriptions, it remains to be seen to what extent it is possible to continue implementing this concept when further developing and operationalizing the BGCMA and the country's other CMAs.

  5. Risk Management Considerations for Interoperable Acquisition

    National Research Council Canada - National Science Library

    Meyers, B. C

    2006-01-01

    .... The state of risk management practice -- the specification of standards and the methodologies to implement them -- is addressed and examined with respect to the needs of system-of-systems interoperability...

  6. Diabetic ketoacidosis: risk factors, mechanisms and management ...

    African Journals Online (AJOL)

    Diabetic ketoacidosis: risk factors, mechanisms and management strategies in sub-Saharan Africa: a review. ... ketoacidosis is the most common hyperglycaemic emergency in patients with diabetes mellitus, especially type 1 diabetes.

  7. Managing flood risk through collaborative governance | IDRC ...

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

    2013-05-21

    May 21, 2013 ... Managing flood risk through collaborative governance ... This article profiles a project supported by IDRC's Climate Change and Water program, ... and in the intensity of extreme weather events are resulting in the erosion of lo.

  8. 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.

  9. 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...

  10. 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.

  11. 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...

  12. From CSR to Social Risk Management

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    2014-01-01

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

  13. 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

  14. Decision support for utility environmental risk management

    International Nuclear Information System (INIS)

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

    1991-01-01

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

  15. 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

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

    Institute of Scientific and Technical Information of China (English)

    LI Gui-jun; ZHANG Yue-song

    2006-01-01

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

  17. Plant risk status information management system

    International Nuclear Information System (INIS)

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

    1985-01-01

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

  18. Delegated Portfolio Management and Risk Taking Behavior

    OpenAIRE

    José Luiz Barros Fernandes; Juan Ignacio Peña; Benjamin Miranda Tabak

    2009-01-01

    Standard models of moral hazard predict a negative relationship between risk and incentives; however empirical studies on mutual funds present mixed results. In this paper, we propose a behavioral principal-agent model in the context of professional managers, focusing on active and passive investment strategies. Using this general framework, we evaluate how incentives affect the risk taking behavior of managers, using the standard moral hazard model as a special case; and solve the previous c...

  19. 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.

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

    OpenAIRE

    Wojciech Machowiak

    2012-01-01

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

  1. 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.

  2. 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.

  3. 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)

  4. 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)

  5. 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

  6. 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.

  7. 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.

  8. 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

  9. 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

  10. 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...

  11. 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.

  12. 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.

  13. 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

  14. 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

  15. 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...

  16. 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.

  17. 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

  18. Managing sovereign credit risk in bond portfolios

    OpenAIRE

    Bruder, Benjamin; Hereil, Pierre; Roncalli, Thierry

    2011-01-01

    With the recent development of the European debt crisis, traditional index bond management has been severely called into question. We focus here on the risk issues raised by the classical market-capitalization weighting scheme. We propose an approach to properly measure sovereign credit risk in a fixed-income portfolio. For that, we assume that CDS spreads follow a SABR process and we derive a sovereign credit risk measure based on CDS spreads and duration of portfolio bonds. We then consider...

  19. Loss Database Architecture for Disaster Risk Management

    OpenAIRE

    RIOS DIAZ FRANCISCO; MARIN FERRER MONTSERRAT

    2018-01-01

    The reformed Union civil protection legislation (Decision on a Union Civil Protection Mechanism), which entered into force on 1 January 2014, is paving the way for more resilient communities by including key actions related to disaster prevention such as developing national risk assessments and the refinement of risk management planning. Under the Decision, Member States agreed to “develop risk assessments at national or appropriate sub- national level and make available to the Commission a s...

  20. Management Risk Reporting Practices and their determinants

    OpenAIRE

    VANDEMAELE, Sigrid; VERGAUWEN, Philip; MICHIELS, Anneleen

    2009-01-01

    In recent years, the need for effective risk management, internal control and transparent risk reporting has become an important corporate governance principle and a predominant issue in business. Already in 1987, the AICPA[ ] report stated that shareholders are increasingly demanding that financial statements include more information concerning the risks and uncertainties companies are facing (Schrand and Elliott, 1998). Abraham and Cox (2007) claim that this information can help investors t...

  1. Credit Risk Management in Chinese Banking Industry

    OpenAIRE

    Zhang, Lei

    2006-01-01

    Abstract Credit risk is by far the most important risk faced by banks, and it influences the bank profitability and its long-term operation significantly. Well management on credit risk can be a competitive advantage for banks in the competitive banking industry. Chinese banks suffer from serious financial fragility manifested by high proportions of NPLs and low capital adequacy ratios (Bonin and Huang, 2001). This dissertation examines the real credit performance of Chinese banks ba...

  2. Critical infrastructure cyber-security risk management

    OpenAIRE

    Spyridopoulos, T.; Maraslis, K.; Tryfonas, T.; Oikonomou, G.

    2017-01-01

    Traditional IT cyber-security risk management methods are based on the evaluation of risks calculated as the likelihood of cyber-security incidents occurring. However, these probabilities are usually estimations or guesses based on past experience and incomplete data. Incorrect estimations can lead to errors in the evaluation of risks that can ultimately affect the protection of the system. This issue is also transferred to methods used in Industrial Control Systems (ICSs), as they are mainly...

  3. Ethical Aspects of Radiation Risk Management

    OpenAIRE

    Wikman-Svahn, Per

    2012-01-01

    This thesis is based on the assumption that the intersection of moral philosophy and practical risk management is a rewarding area to study. In particular, the thesis assumes that concepts, ideas, and methods that are used in moral philosophy can be of great benefit for risk analysis, but also that practices in risk regulation provide a useful testing ground for moral philosophical theories. The thesis consists of an introduction and five articles. Article I is a review article on social and ...

  4. 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.

  5. 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.

  6. 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.

  7. 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.

  8. 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).

  9. 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...

  10. 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)

  11. 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

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

    Science.gov (United States)

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

  13. Transitioning leadership and risk management

    OpenAIRE

    Coulson-Thomas, Colin

    2017-01-01

    One of the dilemmas faced by directors and other corporate leaders is the need to be entrepreneurial in ensuring the future success of a company which involves risk, while at the same time retaining prudent control. Transitioning leadership suggests a process of adjustment, adaptation, transformation or metamorphosis from one condition, situation or state to another, depending upon the extent of the internal or external change required to continue to operate and cope. The process also involve...

  14. 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)

  15. 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)

  16. 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...

  17. 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?'

  18. 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.

  19. 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.

  20. 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.