Risk assessment: An employer's perspective

International Nuclear Information System (INIS)

Williams, K.C.

1992-01-01

There is no question that a careful assessment of risk is essential for safe industrial operations. For that reason, a thoughtful analysis of the effectiveness of available risk assessment technologies is prerequisite for responsible corporate decision making. An 'employer's' perspective on risk assessment cannot be constrained by any artificial restrictions which that term may imply. In reality, all those who are involved in the execution of an industrial enterprise: managers, regulators, the affected public, and especially those employees exposed to hazards, are necessarily partners in assessment of risk. The perspective of this paper is that of the oil and gas industry, in which the author's organization, Exxon Company, International, participates. The paper addresses what Exxon requires to assess and manage risk in its worldwide operations. The author is aware, however, through contacts with industry colleagues, that some of Exxon's initiatives are representative of similar actions being taken by others. 1992 is the European Year of Safety, Health and Hygiene, coinciding with the United Kingdom's Presidency of the European Council. It is also the year in which new 'goal-setting' regulations covering safety in the U.K. offshore oil industry were put forward by the Health and Safety Commission. These regulations, based largely on Lord Cullen's recommendations following the Piper Alpha tragedy, set the pace for safety in the British North Sea and will significantly impact the safety of offshore oil installations worldwide. The requirement for risk assessment, using a systematic process of analysing and evaluating risk, is a key component of this safety regime

Risk assessment: An employer's perspective

Energy Technology Data Exchange (ETDEWEB)

Williams, K C [Exxon International (United States)

1992-07-01

There is no question that a careful assessment of risk is essential for safe industrial operations. For that reason, a thoughtful analysis of the effectiveness of available risk assessment technologies is prerequisite for responsible corporate decision making. An 'employer's' perspective on risk assessment cannot be constrained by any artificial restrictions which that term may imply. In reality, all those who are involved in the execution of an industrial enterprise: managers, regulators, the affected public, and especially those employees exposed to hazards, are necessarily partners in assessment of risk. The perspective of this paper is that of the oil and gas industry, in which the author's organization, Exxon Company, International, participates. The paper addresses what Exxon requires to assess and manage risk in its worldwide operations. The author is aware, however, through contacts with industry colleagues, that some of Exxon's initiatives are representative of similar actions being taken by others. 1992 is the European Year of Safety, Health and Hygiene, coinciding with the United Kingdom's Presidency of the European Council. It is also the year in which new 'goal-setting' regulations covering safety in the U.K. offshore oil industry were put forward by the Health and Safety Commission. These regulations, based largely on Lord Cullen's recommendations following the Piper Alpha tragedy, set the pace for safety in the British North Sea and will significantly impact the safety of offshore oil installations worldwide. The requirement for risk assessment, using a systematic process of analysing and evaluating risk, is a key component of this safety regime.

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.

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)

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...

Reviewing Bayesian Networks potentials for climate change impacts assessment and management: A multi-risk perspective.

Science.gov (United States)

Sperotto, Anna; Molina, José-Luis; Torresan, Silvia; Critto, Andrea; Marcomini, Antonio

2017-11-01

The evaluation and management of climate change impacts on natural and human systems required the adoption of a multi-risk perspective in which the effect of multiple stressors, processes and interconnections are simultaneously modelled. Despite Bayesian Networks (BNs) are popular integrated modelling tools to deal with uncertain and complex domains, their application in the context of climate change still represent a limited explored field. The paper, drawing on the review of existing applications in the field of environmental management, discusses the potential and limitation of applying BNs to improve current climate change risk assessment procedures. Main potentials include the advantage to consider multiple stressors and endpoints in the same framework, their flexibility in dealing and communicate with the uncertainty of climate projections and the opportunity to perform scenario analysis. Some limitations (i.e. representation of temporal and spatial dynamics, quantitative validation), however, should be overcome to boost BNs use in climate change impacts assessment and management. Copyright © 2017 Elsevier Ltd. All rights reserved.

Manager-physician relationships: an organizational theory perspective.

Science.gov (United States)

Kaissi, Amer

2005-01-01

Manager-physician relationships are a critical determinant of the success of health care organizations. As the health care industry is moving toward a situation characterized by higher scarcity of resources, fiercer competition, more corporitization, and strict cost-containment approaches, managers and physicians should, more than ever, work together under conjoint or shared authority. Thus, their relationship can be described as one of high rewards, but also of high risk because of the wide range of differences that exist between them: different socializations and trainings resulting in different worldviews, value orientation and expectations and different cultures. In brief, managers and physicians represent different "tribes," each with its language, values, culture, thought patterns, and rules of the game. This article's main objective is to determine the underlying factors in the manager-physician relationship and to suggest ways that make this relationship more effective. Four different organizational perspectives will be used. The occupational perspective will give insights on the internal characteristics of the occupational communities of managers and physicians. The theory of deprofessionalization of physicians will also be discussed. The structuring perspective will look at the manager-physician relationship as a structure in the organization and will determine the effects of contextual factors (size, task uncertainty, strategy, and environment) on this relationship and the resulting effect on performance and effectiveness of the organization. The culture and control perspective will help detect the cultural differences between managers and physicians and how these interact to affect control over the decision-making areas in the hospital. The power, conflict, and dialectics perspective will shed the light on the conflicting interests of managers and physicians and how these shape the "power game" in the organization. Consequently, a theoretical model of

A resilience perspective to water risk management: case-study application of the adaptation tipping point method

Science.gov (United States)

Gersonius, Berry; Ashley, Richard; Jeuken, Ad; Nasruddin, Fauzy; Pathirana, Assela; Zevenbergen, Chris

2010-05-01

In a context of high uncertainty about hydrological variables due to climate change and other factors, the development of updated risk management approaches is as important as—if not more important than—the provision of improved data and forecasts of the future. Traditional approaches to adaptation attempt to manage future water risks to cities with the use of the predict-then-adapt method. This method uses hydrological change projections as the starting point to identify adaptive strategies, which is followed by analysing the cause-effect chain based on some sort of Pressures-State-Impact-Response (PSIR) scheme. The predict-then-adapt method presumes that it is possible to define a singular (optimal) adaptive strategy according to a most likely or average projection of future change. A key shortcoming of the method is, however, that the planning of water management structures is typically decoupled from forecast uncertainties and is, as such, inherently inflexible. This means that there is an increased risk of under- or over-adaptation, resulting in either mal-functioning or unnecessary costs. Rather than taking a traditional approach, responsible water risk management requires an alternative approach to adaptation that recognises and cultivates resiliency for change. The concept of resiliency relates to the capability of complex socio-technical systems to make aspirational levels of functioning attainable despite the occurrence of possible changes. Focusing on resiliency does not attempt to reduce uncertainty associated with future change, but rather to develop better ways of managing it. This makes it a particularly relevant perspective for adaptation to long-term hydrological change. Although resiliency is becoming more refined as a theory, the application of the concept to water risk management is still in an initial phase. Different methods are used in practice to support the implementation of a resilience-focused approach. Typically these approaches

Managing Risks in Electrical Infrastructure Assets from a Strategic Perspective

NARCIS (Netherlands)

Zhuang, Q.

2015-01-01

Should risks always be quantified before being managed? The answer is “yes” in the opinion of most asset managers in today’s electricity transmission and distribution companies, but “no” in modern theories of risk management. When the risks refer to reliability hazards of high-voltage assets, the

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.

Value-oriented risk management of insurance companies

CERN Document Server

Kriele, Marcus

2014-01-01

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

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

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.

Risk Management Model from the Perspective of the Implementing ISO 9001:2015 Standard Within Financial Services Companies

Directory of Open Access Journals (Sweden)

Cătălina Sitnikov

2017-11-01

Full Text Available In its new form, the ISO 9001:2015 standard activates and utilizes a thought pattern based on risk assessment functioning in parallel with the implementation of the system regarding quality management. Therefore, we strive to identify the risks and opportunities associated with the processes and products needed to create and implement a system of quality management based on the ISO 9001:2015 standard. This standard is defined by a strong client-based orientation, motivation and managerial involvement from the higher levels, as well as a process-based approach and a commitment towards constant improvement. By implementing the requirements of the new version of the ISO 9001:2015 standard, the organisation needs to determine all the processes necessary to the system of quality management, as well as to identify those which include activities dealing with risks and opportunities. Considering the importance and the impact of the requirements of the new version of the ISO 9001:2015 standard, starting from theoretical concepts and underscoring a set of research vectors, a model of financial risk assessment has been devised. The model is based on the correlation which can be established between the multiplicity of components relating to the components of the new standard structure, SL Annex, elements of an approach derived from risk patterns of processes and risk types which are assessed from the perspective of financial services companies.

RISK MANAGEMENT FROM THE PERSPECTIVE OF INTERNAL AUDIT

OpenAIRE

Florin-Constantin, DIMA

2013-01-01

The existence of a wide range of risks with actual or potential impact on business entities is a certainty, as well as their influence on company results. In this context, the increase of the economic performance and the implementation of effective activities is strictly related to implementing a risk management system, allowing to define the principal risks of the entity, to identify and assess the risks it faces, and the creation of effective strategies to reduce them.

Risk Management - Variance Minimization or Lower Tail Outcome Elimination

DEFF Research Database (Denmark)

Aabo, Tom

2002-01-01

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

Risk, surprises and black swans fundamental ideas and concepts in risk assessment and risk management

CERN Document Server

Aven, Terje

2014-01-01

Risk, Surprises and Black Swans provides an in depth analysis of the risk concept with a focus on the critical link to knowledge; and the lack of knowledge, that risk and probability judgements are based on.Based on technical scientific research, this book presents a new perspective to help you understand how to assess and manage surprising, extreme events, known as 'Black Swans'. This approach looks beyond the traditional probability-based principles to offer a broader insight into the important aspects of uncertain events and in doing so explores the ways to manage them.

RISK MANAGEMENT FROM THE PERSPECTIVE OF INTERNAL AUDIT

Directory of Open Access Journals (Sweden)

Florin-Constantin, DIMA

2013-12-01

Full Text Available The existence of a wide range of risks with actual or potential impact on business entities is a certainty, as well as their influence on company results. In this context, the increase of the economic performance and the implementation of effective activities is strictly related to implementing a risk management system, allowing to define the principal risks of the entity, to identify and assess the risks it faces, and the creation of effective strategies to reduce them.

An enhanced data-analytic framework for integrating risk management and performance management

International Nuclear Information System (INIS)

Thekdi, Shital; Aven, Terje

2016-01-01

There is increasing interest for agencies and industries to develop risk management processes for a wide variety of applications. Traditional risk management processes are motivated by controlling risk and avoiding losses. In contrast, other organizational processes focus on managing performance and value generation. In this paper we argue that risk management also adds an important contribution to these processes. However, this requires “proper” risk management extending beyond narrow safety oriented perspectives built on quantitative risk analysis and tolerability/acceptance criteria. There is need for a broad risk-performance framework with uncertainty being a main component of risk, and where knowledge and surprises are adequately reflected. In the paper we present and discuss such a framework. The framework is developed on the basis of an analysis of combinations of different risk management and performance management practices/policies. We show how the risk and performance management processes can be improved by proper risk conceptualization and a holistic thinking on how to develop and use goals in the organization, how to balance different concerns, and consider the need for agility – “sensitivity to operations”, as well as how to give weight to vulnerabilities, resilience, and antifragility. - Highlights: • We relate key performance management and risk management principles. • We propose an enhanced framework to unify thinking of performance and risk. • We apply the framework to a public-private partnership case study.

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

NARCIS (Netherlands)

Merz, B.; Aerts, J.C.J.H.; Arnbjerg-Nielsen, K.; Baldi, M.; Becker, A.; Bichet, A.; Blöschl, G.; Bouwer, L.M.; Brauer, A.; Cioffi, F.; Delgado, J.M.; Gocht, M.; Guzetti, F.; Harrigan, S.; Hirschboeck, K.; Kilsby, C.; Kron, W.; Kwon, H. -H.; Lall, U.; Merz, R.; Nissen, K.; Salvatti, P.; Swierczynski, T.; Ulbrich, U.; Viglione, A.; Ward, P.J.; Weiler, M.; Wilhelm, B.; Nied, M.

2014-01-01

Flood estimation and flood management have traditionally been the domain of hydrologists, water resources engineers and statisticians, and disciplinary approaches abound. Dominant views have been shaped; one example is the catchment perspective: floods are formed and influenced by the interaction of

Psychosocial Risks: Is Risk Management Strategic Enough in Business and Policy Making?

Science.gov (United States)

Langenhan, Melissa K.; Leka, Stavroula; Jain, Aditya

2013-01-01

Background In times of continuous change and volatile markets, organizations are increasingly characterized by downsizing, work intensification, and resource rationalization. This has resulted in diversification, and the emergence of new risks within the field of occupational health and safety, with an important impact. This paper focuses on one such type of risk in the modern workplace—psychosocial risks. The current study aimed to explore stakeholder perspectives, regarding the extent to which psychosocial risks are incorporated into strategic risk management practices, at both the business and policy level. Methods Semi-structured interviews were conducted with 14 professionals, representing employer, expert, policy maker, and trade union stakeholder perspectives. Results It was found that the majority of organizations do not sufficiently, if at all, understand and incorporate psychosocial risks into strategic decision making, whereby the key barrier related to practical difficulties of not knowing how to manage psychosocial risks adequately. Conclusion The study found that there is a need to close the gap between policy and practice on a number of levels. Future recommendations comprise a policy framework and infrastructure underpinned by educational initiatives, partnerships, and networks to drive a shift in attitudes toward recognizing the duality of the concept of risk (including both potential negative and positive outcomes) and moving beyond simple regulatory compliance. PMID:23961331

Psychosocial risks: is risk management strategic enough in business and policy making?

Science.gov (United States)

Langenhan, Melissa K; Leka, Stavroula; Jain, Aditya

2013-06-01

In times of continuous change and volatile markets, organizations are increasingly characterized by downsizing, work intensification, and resource rationalization. This has resulted in diversification, and the emergence of new risks within the field of occupational health and safety, with an important impact. This paper focuses on one such type of risk in the modern workplace-psychosocial risks. The current study aimed to explore stakeholder perspectives, regarding the extent to which psychosocial risks are incorporated into strategic risk management practices, at both the business and policy level. Semi-structured interviews were conducted with 14 professionals, representing employer, expert, policy maker, and trade union stakeholder perspectives. It was found that the majority of organizations do not sufficiently, if at all, understand and incorporate psychosocial risks into strategic decision making, whereby the key barrier related to practical difficulties of not knowing how to manage psychosocial risks adequately. The study found that there is a need to close the gap between policy and practice on a number of levels. Future recommendations comprise a policy framework and infrastructure underpinned by educational initiatives, partnerships, and networks to drive a shift in attitudes toward recognizing the duality of the concept of risk (including both potential negative and positive outcomes) and moving beyond simple regulatory compliance.

Effects of risk attitudes on extended attack fire management decisionmaking

Science.gov (United States)

Donald G. MacGregor; Armando González-Cabán

2009-01-01

Fire management inherently involves the assessment and management of risk, and decision making under uncertainty. Although organizational standards and guides are an important determinant of how decision problems are structured and framed, decision makers may view risk-based decisions from a perspective that is unique to their background and experience. Previous...

2012 AAPS National Biotech Conference Open Forum: a perspective on the current state of immunogenicity prediction and risk management.

Science.gov (United States)

Rajadhyaksha, Manoj; Subramanyam, Meena; Rup, Bonnie

2013-10-01

The immunogenicity profile of a biotherapeutic is determined by multiple product-, process- or manufacturing-, patient- and treatment-related factors and the bioanalytical methodology used to monitor for immunogenicity. This creates a complex situation that limits direct correlation of individual factors to observed immunogenicity rates. Therefore, mechanistic understanding of how these factors individually or in concert could influence the overall incidence and clinical risk of immunogenicity is crucial to provide the best benefit/risk profile for a given biotherapeutic in a given indication and to inform risk mitigation strategies. Advances in the field of immunogenicity have included development of best practices for monitoring anti-drug antibody development, categorization of risk factors contributing to immunogenicity, development of predictive tools, and development of effective strategies for risk management and mitigation. Thus, the opportunity to ask "where we are now and where we would like to go from here?" was the main driver for organizing an Open Forum on Improving Immunogenicity Risk Prediction and Management, conducted at the 2012 American Association of Pharmaceutical Scientists' (AAPS) National Biotechnology Conference in San Diego. The main objectives of the Forum include the following: to understand the nature of immunogenicity risk factors, to identify analytical tools used and animal models and management strategies needed to improve their predictive value, and finally to identify collaboration opportunities to improve the reliability of risk prediction, mitigation, and management. This meeting report provides the Forum participant's and author's perspectives on the barriers to advancing this field and recommendations for overcoming these barriers through collaborative efforts.

The future of risk management in an uncertain world

OpenAIRE

Coulson-Thomas, Colin

2017-01-01

Risk management approaches, practices and techniques need to change to reflect evolving risks and the inter-connected nature of contemporary organisations. Boards need to challenge and question them. The risk management community needs to adopt more pro-active and positive approaches that add more value and enable innovation and entrepreneurship. They need to contribute to solutions rather than just report problems, and focus on opportunities as well as challenges. A wider perspective and mor...

Applying lean thinking to risk management in product development

DEFF Research Database (Denmark)

Willumsen, Pelle Lundquist; Oehmen, Josef; Rossi, Monica

2017-01-01

This paper re-conceptualizes risk management (RM) in product development (PD) through a lean thinking perspective. Arguably, risk management in PD projects became a victim of its own success. It is often implemented as a highly formalized, compliance driven activity, ending up disconnected from...... delay or cost overrun. This paper explores the relationship between product development and risk management and proposes to make RM an integrated value adding part of PD. Through a literature review we identify the potential of re-conceptualizing RM through lean thinking. We then conceptualize...

WAYS TO IMPROVE RISK MANAGEMENT IN COMPLEX PROJECTS

Directory of Open Access Journals (Sweden)

Emilia IORDACHE

2012-01-01

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

On a systematic perspective on risk for formal safety assessment (FSA)

International Nuclear Information System (INIS)

Montewka, Jakub; Goerlandt, Floris; Kujala, Pentti

2014-01-01

In the maritime domain, risk is evaluated within the framework of the Formal Safety Assessment (FSA), introduced by the International Maritime Organization in 2002. Although the FSA has become an internationally recognized and recommended method, the definition, which is adopted there, to describe the risk, seems to be too narrow to reflect the actual content of the FSA. Therefore this article discusses methodological requirements for the risk perspective, which is appropriate for risk management in the maritime domain with special attention to maritime transportation systems. A perspective that is proposed here considers risk as a set encompassing the following: a set of plausible scenarios leading to an accident, the likelihoods of unwanted events within the scenarios, the consequences of the events and description of uncertainty. All these elements are conditional upon the available knowledge (K) about the analyzed system and understanding (N) of the system behavior. Therefore, the quality of K and the level of N of a risk model should be reflected in the uncertainty description. For this purpose we introduce a qualitative scoring system, and we show its applicability on an exemplary risk model for a RoPax ship. - Highlights: • We present a risk perspective for the maritime domain. • A distinction between knowledge and understanding is made. • We describe risk as (Scenario, Consequences, Uncertainty/Knowledge, Understanding). • The perspective highlights the strength and weaknesses of a given risk analysis

A global overview of risk management of the DOE complex

International Nuclear Information System (INIS)

Alesso, H.P.; Majumdar, K.C.

1993-01-01

No endeavor is risk-fire and as we realize the inherent risks in society, our only viable solution is to manage the risk. Application of an integrated risk management program of a large technological system like the DOE complex is a difficult, task; but it is the only rational means to optimize the risk-benefit equation. An effective risk management culture-within the DOE complex will in the long run, ensure a consistent response to mitigate identified risks. An effective risk management program provides responsible administrative planning and logical application of the best technical analyses. It requires the involvement of all personnel. Our objective in this paper is to point out broad perspectives that raise concerns about future DOE ask management issues and to suggest some possible remedies

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.

Safety regulations: Implications of the new risk perspectives

International Nuclear Information System (INIS)

Aven, T.; Ylönen, M.

2016-01-01

The current safety regulations for industrial activities are to a large extent functionally oriented and risk-based (informed), expressing what to achieve rather than the means and solutions needed. They are founded on a probability-based perspective on risk, with the use of risk assessment, risk acceptance criteria and tolerability limits. In recent years several risk researchers have argued for the adoption of some new types of risk perspectives which highlight uncertainties rather than probabilities in the way risk is defined, the point being to better reflect the knowledge, and lack of knowledge, dimension of risk. The Norwegian Petroleum Safety Authority has recently implemented such a perspective. The new ISO standard 31000 is based on a similar thinking. In this paper we discuss the implications of these perspectives on safety regulation, using the oil & gas and nuclear industries as illustrations. Several suggestions for how to develop the current safety regulations in line with the ideas of the new risk perspectives are outlined, including some related to the use of risk acceptance criteria (tolerability limits). We also point to potential obstacles and incentives that the larger societal and institutional setting may impose on industry as regards the adoption of the new risk perspectives. - Highlights: • Some new types of risk perspectives have been promoted. • They have been implemented for example by the Norwegian Petroleum Safety Authority. • The paper studies the implication of these perspectives on the risk regulation. • Suggestions for how to develop the regulations are provided • Obstacles and incentives for the implementation of the perspectives are pointed to.

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)

Managing Programmatic Risk for Complex Space System Developments

Science.gov (United States)

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

2001-01-01

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

THREE PERSPECTIVES ON MANAGING FRONT END INNOVATION

DEFF Research Database (Denmark)

Jensen, Anna Rose Vagn; Clausen, Christian; Gish, Liv

2018-01-01

as a complementary perspective. The paper combines a literature review with an empirical examination of the application of these multiple perspectives across three cases of front end of innovation (FEI) management in mature product developing companies. While the process models represent the dominant, albeit rather...... to represent an emergent approach in managing FEI where process models, knowledge strategies and objects become integrated elements in more advanced navigational strategies for key players.......This paper presents three complementary perspectives on the management of front end innovation: A process model perspective, a knowledge perspective and a translational perspective. While the first two perspectives are well established in literature, we offer the translation perspective...

Managing Competing Influences: Risk Acceptance in Operation Rolling Thunder

Science.gov (United States)

2017-03-12

perspective beyond the chance of loss because the nation may require units to fight, even when the odds may not be in their favor. James Creelman and...J. Davidson Frame, Managing Risk in Organizations: A Guide for Managers (San Francisco: Jossey-Bass, 2003), 7. 22 James Creelman and Andrew Smart...translated by Peter Paret and Michael Howard. Princeton: Princeton University Press, 1976. Creelman , James, and Andrew Smart. Risk-Based Performance

RISK MANAGEMENT IN SMALL AND MEDIUM – SIZED ENTERPRISES: A GENDER-SENSITIVE APPROACH

Directory of Open Access Journals (Sweden)

Iwona Gorzeń-Mitka

2015-12-01

Full Text Available Risk is inherent in all business functions and in every kind of activity. Small and medium-sized enterprises (SMEs are particularly vulnerable to continuously daily internal and external undesirable events that adversely affect business performance. To deal with many risk determinants effectively, SMEs need a systemic method of approach to risk management. One of the factors of company risk management approach is gender of the owners or top executives. Especially from a managerial perspective, the link between risk-taking and gender has been examined through a wide range of approaches, such as entrepreneurial orientation and leadership related literatures. Some researchers point that male SME owners appear to show a greater risk appetite than female SME owners. The leading question in the undertaken research was to determine whether the gender of the firm's owners or top executives are reflected in the approach to risk management. The focal point of the research is identification of differences in risk taking and risk management in Polish SMEs companies from a gender perspective.

Unforeseen risk and planning perspectives

International Nuclear Information System (INIS)

Kobayashi, Kiyoshi

2013-01-01

In traditional methodologies of engineering and risk analysis, it is the widely accepted presumption to delineate the scope of consideration by excluding uncertain events with extremely low probabilities, and to seek the rational means to maneuver the presumed risks in rational ways. But we learned these conventional wisdoms are no longer valid from the last earthquake in the Eastern Japan to cope with the unexpected huge disaster. In this article, I still wish to accept a paradigm at the first place that any kinds of analytical investigation for planning cannot stand without presumed comprehension of the world, but to acknowledge its insufficiency. I am motivated to seek the plausible philosophical foundations for risk management which could partly mitigate the methodological limitation driven by cognitive capacities of human beings. The article tries to contemplate the basic issues which may exist in risk communications between professionals and nonprofessional. The paper is concluded by illustrating some basic problems related to practices and researches in infrastructure planning and perspectives for human betterment. (author)

Managing risk: clinical decision-making in mental health services.

Science.gov (United States)

Muir-Cochrane, Eimear; Gerace, Adam; Mosel, Krista; O'Kane, Debra; Barkway, Patricia; Curren, David; Oster, Candice

2011-01-01

Risk assessment and management is a major component of contemporary mental health practice. Risk assessment in health care exists within contemporary perspectives of management and risk aversive practices in health care. This has led to much discussion about the best approach to assessing possible risks posed by people with mental health problems. In addition, researchers and commentators have expressed concern that clinical practice is being dominated by managerial models of risk management at the expense of meeting the patient's health and social care needs. The purpose of the present study is to investigate the risk assessment practices of a multidisciplinary mental health service. Findings indicate that mental health professionals draw on both managerial and therapeutic approaches to risk management, integrating these approaches into their clinical practice. Rather than being dominated by managerial concerns regarding risk, the participants demonstrate professional autonomy and concern for the needs of their clients.

Audit Manager Risk Behaviour in a Global Economy – a Research of the Theories on the Determinants of Risk Behaviour

OpenAIRE

Ionescu Iancu Octavian

2010-01-01

In an increasingly globalised economy, the quality and professionalism of business decisions are intrinsically linked to the risk behaviour of decision makers. The business decision makers are usually faced with a degree of uncertainty when they have to assess risk and make decisions. This paper examines risk behaviour from an audit firm manager perspective and from an academic perspective. The emphasis is on the managerial risk behaviour in business decision making. The research objective is...

Project Management – Multi-perspective Leadership

DEFF Research Database (Denmark)

Riis, Eva

2014-01-01

”Project Management – Multi-perspective Leadership” af Hans Mikkelsen og Jens Ove Riis - anmeldelse......”Project Management – Multi-perspective Leadership” af Hans Mikkelsen og Jens Ove Riis - anmeldelse...

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

Institute of Scientific and Technical Information of China (English)

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

2017-01-01

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

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

OpenAIRE

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

2013-01-01

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

Managing the risks of legacy radioactive sources from a security perspective

International Nuclear Information System (INIS)

Alexander, Mark; Murray, Allan

2008-01-01

The safety and security risk posed by highly radioactive, long-lived sources at the end of their normal use has not been consistently well-managed in previous decades. The Brazilian Cs-137 accident in 1986 and the Thailand Co-60 accident in 2000 are prime examples of the consequences that ensue from the loss of control of highly dangerous sources after their normal use. With the new international emphasis on security of radioactive sources throughout their life cycle, there is now further incentive to address the management of risks posed by legacy, highly dangerous radioactive sources. The ANSTO South-East Asia Regional Security of Radioactive Sources (RSRS) Project has identified, and is addressing, a number of legacy situations that have arisen as a result of inadequate management practices in the past. Specific examples are provided of these legacy situations and the lessons learned for managing the consequent safety and security risk, and for future complete life-cycle management of highly radioactive sources. (author)

Risk assessment and radioactive waste management

International Nuclear Information System (INIS)

Cohen, J.J.

1979-01-01

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

Managing transaction risks in interdependent supply chains: an extended transaction cost economics perspective

NARCIS (Netherlands)

Wever, M.; Wognum, P.M.; Trienekens, J.H.; Omta, S.W.F.

2012-01-01

The present study examines the management of transaction risks in supply chains. Risk management studies often ignore the wider supply chain context in which individual transactions take place. However, risk management strategies which are suitable to use when only a single transaction is considered

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

-Making Framework for Identifying, Assessing and Managing Health Risks (Health Canada, 2000). 4. Canadian Environmental Protection Act: Human Health Risk Assessment of Priority Substances(Health Canada, 1994). 5. CSA-Q8550 Risk Management: Guidelines for Decision-Makers (Canada Standards Association, 1997). 6. Risk Assessment in the Federal Government: Managing the Process (US National Research Council, 1983). 7. Understanding Risk: Informing Decisions in a Democratic Society (US National Research Council, 1996). 8. Environmental Health Risk Assessment (enHealth Council of Australia, 2002). 9. A Framework for Ecological Risk Assessment (CCME, 1996). 10. Ecological Risk Assessments of Priority Substances Under the Canadian Environmental Protection Act (Environment Canada, 1996).11. Guidelines for Ecological Risk Assessment (US EPA, 1998b). 12. Proposed Model for Occupational Health Risk Assessment and Management (Rampal & Sadhra, 1999). Based on the extensive review of these frameworks, seven key elements that should be included in a comprehensive framework for human health, ecological, and occupational risk assessment and management were identified: 1. Problem formulation stage. 2. Stakeholder involvement. 3. Communication. 4. Quantitative risk assessment components. 5. Iteration and evaluation. 6. Informed decision making. 7. Flexibility. On the basis of this overarching approach to risk management, the following "checklist" to ensure a good risk management decision is proposed: - Make sure you're solving the right problem. - Consider the problem and the risk within the full context of the situation, using a broad perspective. - Acknowledge, incorporate, and balance the multiple dimensions of risk. - Ensure the highest degree of reliability for all components of the risk management process. - Involve interested and effected parties from the outset of the process. - Commit to honest and open communication between all parties. - Employ continuous evaluation throughout the process

Risk Management in Construction Project: Taking Fairness into Account

Science.gov (United States)

Górecki, Jarosław; Bizon-Górecka, Jadwiga

2017-10-01

Risk management requires a comprehensive review of possible hazards, their possible outcomes as well as some recommendations about minimizing the risk. The study emphasises that the project risk management refers to an analysis of the risk factors and a creation of the strategy minimising negative effects of the risk. It was pointed out that a construction project is this kind of projects that can be defined as a unique process of high complexity (design documentation, various stages of creating the building), which has clearly defined time frames and a given financial limit. It is executed as a team work, by qualified or highly qualified specialists of different matters, for example masonry, precast, etc. Additionally, it requires a use of modern equipment and an adequate preparation of the investment. Therefore, the risk management focuses on the problems allowing for troubleshooting. A basis of the risk management is to recognise the fundamentals, which are crucial for the construction project management, i.e. an object perspective, including technological, supporting and management processes as well as an entity perspective - project stakeholders. Construction projects require also an acquaintance with the specificity of the branch. The article refers to the risk management in construction project and, in particular, a phenomenon of participants’ fairness in such projects. The problem of fairness of the entities involved in a project should be understood as a fair play, according to the arrangements agreed in a contract and compatible with current formal procedures and social rules. It was indicated that fairness can be treated as an important factor in predicting the success of such projects. Interviews conducted among contractors in Kuyavian-Pomeranian region showed varied fairness requirements put to individual participants of construction projects. The article presents results of the research. It shows a desired attitude of the surveyed enterprises

Risk perspective on final disposal of nuclear waste. Individuals, society and communication

International Nuclear Information System (INIS)

Lindblad, Inga-Britt

2007-01-01

This report tries to evaluate the importance of the risk perspective in connection with final storage of nuclear waste. The concept 'risk' has different importance for experts and general public, within different research directions and among stakeholders in the nuclear waste issue. The report has been published in order to give an interdisciplinary scientific perspective on the risk concept. The authors have their background in different disciplines: radiation physics, psychology, media- and communications-science. The report treats four different themes: The first theme concerns perspectives on the risk concept and describes various principles for how risks can be handled in the society. The next theme is about comparing various risks. This section shows that risk comparisons can to be done within the framework of a scientific attitude and during certain given conditions. The third theme elucidates results from research about subjective risk, and shows that a large number of factors influence how risks are considered by individuals, and can influence his risk behavior and also how the individual means that the society will make decisions in risk-related questions. The fourth and last theme is about risk communication. Since the risk concept contains many different aspects it is clear that risk should not only be informed about, but also communicated. If a purely mathematical definition of risk was the only valid form, such information, from experts to the citizens, would possibly be sufficient. But since there are other relevant factors to take into consideration (t.ex the individual's own values), a communicative process must take place, i.e. the citizens should have influence on how risks are compared and managed. In the final theme, the authors have chosen to reflect around the themes above, i.e. different perspectives on the risk concept, risk comparisons, subjective risk view and risk communication are discussed

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

Prioritizing risks via several expert perspectives with application to runway safety

International Nuclear Information System (INIS)

Rogerson, Ellen C.; Lambert, James H.

2012-01-01

Factor hierarchies have been widely used in the literature to represent the view of an expert of what factors most contribute to reliability or safety. The methods for rating and aggregating the influences across a set of expert-elicited factors to risk or reliability are well known as multiple criteria decision analysis. This paper describes a method for distinguishing levels of risk across a set of locations via the use of multiple factor hierarchies. The method avoids averaging across experts and is thus useful for situations where experts disagree and where an absence of expert consensus on the causative or contributing factors is important information for risk management. A case study demonstrates using seven expert perspectives on the airport-specific factors that can contribute to runway incursions. The results are described for eighty towered airports in the US. The expert perspectives include differing relative emphases across the following set of factors: airport geometry, operations, weather, geography, and days since last safety review. Future work is suggested to include human factors issues as pilot-and-controller communications styles at airports. - Highlights: ► We examine influential factors in seven expert perspectives on the problem domain. ► We assess eighty US airports with qualitative measurement scales for each risk factor. ► Results show robustness and sensitivity of the risk index to expert perspective. ► We examine factors of several types including runway geometry, operations, weather, and geography.

Supply risk management from a transaction cost and social exchange theory perspective

NARCIS (Netherlands)

Hoffmann, Petra; Schiele, Holger; Song, Michael; Krabbendam, Johannes Jacobus

2012-01-01

Supply risk management gained prominence over the last decade, both in the academic discourse and in practical application. This research examines the influence of Transaction Cost characteristics -behavioral uncertainty, environmental uncertainty and asset specificity on supply risk management

Knowledge Management from Organizational Culture Perspectives

OpenAIRE

Nguyen, Nhu T.B.

2007-01-01

This paper examines organizational culture perspectives to demonstrate their importance on knowledge management. Also, it is aimed to link three perspectives of organizational culture (Integration, Differentiation, and Fragmentation) to knowledge management. The conclusion suggests several implications of this paper and future research.

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

International Nuclear Information System (INIS)

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

2006-01-01

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

Risk evaluation mitigation strategies: the evolution of risk management policy.

Science.gov (United States)

Hollingsworth, Kristen; Toscani, Michael

2013-04-01

The United States Food and Drug Administration (FDA) has the primary regulatory responsibility to ensure that medications are safe and effective both prior to drug approval and while the medication is being actively marketed by manufacturers. The responsibility for safe medications prior to marketing was signed into law in 1938 under the Federal Food, Drug, and Cosmetic Act; however, a significant risk management evolution has taken place since 1938. Additional federal rules, entitled the Food and Drug Administration Amendments Act, were established in 2007 and extended the government's oversight through the addition of a Risk Evaluation and Mitigation Strategy (REMS) for certain drugs. REMS is a mandated strategy to manage a known or potentially serious risk associated with a medication or biological product. Reasons for this extension of oversight were driven primarily by the FDA's movement to ensure that patients and providers are better informed of drug therapies and their specific benefits and risks prior to initiation. This article provides an historical perspective of the evolution of medication risk management policy and includes a review of REMS programs, an assessment of the positive and negative aspects of REMS, and provides suggestions for planning and measuring outcomes. In particular, this publication presents an overview of the evolution of the REMS program and its implications.

Proceedings of the NOAMI workshop : a workshop to explore perspectives on risk assessment for orphaned and abandoned mines

International Nuclear Information System (INIS)

2009-03-01

This workshop hosted by the National Orphaned/Abandoned Mines Initiative (NOAMI) discussed risk assessment strategies and perspectives for orphaned and abandoned mines in Canada. Different perspectives related to the risk assessment process were considered by participants from local, provincial, federal, and territorial agencies as well as non-governmental, academic, and mining industry organizations. Strategies for effectively communicating with local communities were discussed. New methods of assessing risk related to bioavailability and bioaccessibility were reviewed along with approaches to risk assessment and risk management in relation to the Environmental Management Act. Case studies of risk assessment and remediation projects were presented. The workshop presentations were divided into the following 6 sessions: (1) keynote, (2) opening panel, (3) human health panel, (4) ecological panel, (5) geotechnical-safety risk assessment panel, and (6) case studies and perspectives. The workshop featured 22 presentations, of which 2 have been catalogued separately for inclusion in this database. A report on detailed ecological risk assessment (DERA) in British Columbia prepared by the Science Advisory Board for Contaminated Sites in British Columbia (BC) was included, as well as a final report that summarized presentations given at the workshop. refs., tabs., figs

Managing geotechnical risk on US design-build transport projects

Directory of Open Access Journals (Sweden)

Kevin McLain

2014-03-01

Full Text Available Awarding design-build (DB contracts before a complete subsurface investigation is completed, makes mitigating the risk of differing site conditions difficult, if not impossible. The purpose of the study was to identify effective practices for managing geotechnical risk in DB projects, and it reports the results of a survey that included responses from 42 of 50 US state departments of transportation and a content analysis of DB requests for proposals from 26 states to gauge the client’s perspective, as well as 11 structured interviews with DB contractors to obtain the perspective from the other side of the DB contract.  A suite of DB geotechnical risk manage tools is presented based on the results of the analysis. Effective practices were found in three areas: enhancing communications on geotechnical issues before final proposals are submitted; the use of project-specific differing site conditions clauses; and expediting geotechnical design reviews after award. The major finding is that contract verbiage alone is not sufficient to transfer the risk of changed site conditions. The agency must actively communicate all the geotechnical information on hand at the time of the DB procurement and develop a contract strategy that reduces/retires the risk of geotechnical uncertainty as expeditiously as possible after award.

Knowledge Management in Projects: Insights from two Perspectives

DEFF Research Database (Denmark)

Christensen, Karina Skovvang; Bukh, Per Nikolaj

2009-01-01

The article focuses on how managerial options in relation to development and sharing of knowledge in projects can be extended by analysing project management from two different, but complementary, knowledge management perspectives: an artefact-oriented and a process-oriented perspective. Further......, the article examines how a similar project management model is used in two different organisations and how its role in knowledge management differs dependent on other knowledge management initiatives and how the production processes are structured. Following the artefact-oriented perspective, the explicit...... dimension of knowledge can be captured, retrieved and reused using knowledge management systems. From the process-oriented perspective, focus is on the tacit or implicit dimension of knowledge and the context for understanding the information is more important. It is concluded that if a company offers...

Risk profiles and antithrombotic treatment of patients newly diagnosed with atrial fibrillation at risk of stroke: perspectives from the international, observational, prospective GARFIELD registry

NARCIS (Netherlands)

Kakkar, A.K.; Mueller, I.; Bassand, J.P.; Fitzmaurice, D.A.; Goldhaber, S.Z.; Goto, S.; Haas, S.; Hacke, W.; Lip, G.Y.; Mantovani, L.G.; Turpie, A.G.G.; Eickels, M. van; Misselwitz, F.; Rushton-Smith, S.; Kayani, G.; Wilkinson, P.; Verheugt, F.W.A.; et al.,

2013-01-01

BACKGROUND: Limited data are available on the characteristics, clinical management, and outcomes of patients with atrial fibrillation at risk of stroke, from a worldwide perspective. The aim of this study was to describe the baseline characteristics and initial therapeutic management of patients

An evaluation of the Davis-Besse loss of feedwater event (June 1985) from an accident management perspective

International Nuclear Information System (INIS)

Di Salvo, R.; Leonard, M.T.; Wreathall, J.

1986-01-01

An accident management perspective is used to analyze events associated with a total loss-of-feedwater at the Davis-Besse nuclear power plant in June 1985. The relationships of accident management to the closely associated concepts of risk management and emergency management are delineated. The analysis shows that the principal contributors to the event's occurrence were shortcomings in risk management. Successful performance by the operators in accident management was principally responsible for terminating the event without consequence to public health

Risk Management in IT Governance Framework

Directory of Open Access Journals (Sweden)

Mirela GHEORGHE

2011-12-01

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

The liquidity management of institutional investors and the pricing of liquidity risk

NARCIS (Netherlands)

Xing, Ran

2016-01-01

This dissertation studies how mutual funds and hedge funds manage their liquidity and reduce trading costs, and the pricing of liquidity level and liquidity risk in financial markets. Chapter 1 documents the trading behavior of actively managed equity mutual funds from the perspective of their

Enhancing supply risk management performance : a transaction cost and social exchange theory perspective

NARCIS (Netherlands)

Hoffmann, Petra; Schiele, Holger; Song, Michael

2012-01-01

Supply risk management gained prominence over the last decade, both in the academic discourse and in practical application. This research examines the influence of Transaction Cost characteristics -behavioral uncertainty, environmental uncertainty and asset specificity- on supply risk management

Enhancing supply risk management performance: a transaction cost and social exchange theory perspective

NARCIS (Netherlands)

Hoffmann, Petra; Schiele, Holger; Song, Michael; Krabbendam, Johannes Jacobus

2011-01-01

Supply risk management gained prominence over the last decade, both in the academic discourse and in practical application. This research examines the influence of Transaction Cost characteristics -behavioral uncertainty, environmental uncertainty and asset specificity- on supply risk management

Leveraging Enterprise Risk Management: Opportunity for Greater Relevance

Science.gov (United States)

Abraham, Janice M.; Baird, Robert; Neugebauer, Frank

2013-01-01

Enterprise Risk Management (ERM) gained a foothold in higher education during the first decade of the 21st century. College and university governing board members came to their board service with the perspective and experience of having served on corporate boards and in corporate leadership positions where ERM was in active use. Trustees asked…

Perception of radiation risk from a cross cultural perspective

International Nuclear Information System (INIS)

Brenot, J.; Hessler, A.; Joussen, W.; Sjoeberg, L.

1996-01-01

Regarding radiation risk individual coping strategies range from apathy, no worry, avoidance, information seeking, changes in life style, inter alia. How they occur and when, is a necessary information for the development of better risk communication programmes. To address these points four particular situations involving radiation were chosen, namely indoor radon exposure, X-ray diagnostic, consumption of irradiated food, and radioactive waste management. Situations correspond to very different contexts, natural exposure (with indoor radon), daily life (with medical diagnostic and food consumption) and the industrial and energy context (with waste). From a cross-cultural perspective it was deemed fruitful to compare these situations in various countries. (author)

[The hospital perspective: disease management and integrated health care].

Science.gov (United States)

Schrappe, Matthias

2003-06-01

Disease Management is a transsectoral, population-based form of health care, which addresses groups of patients with particular clinical entities and risk factors. It refers both to an evidence-based knowledge base and corresponding guidelines, evaluates outcome as a continuous quality improvement process and usually includes active participation of patients. In Germany, the implementation of disease management is associated with financial transactions for risk adjustment between health care assurances [para. 137 f, Book V of Social Code (SGB V)] and represents the second kind of transsectoral care, besides a program designed as integrated health care according to para. 140 a ff f of Book V of Social Code. While in the USA and other countries disease management programs are made available by several institutions involved in health care, in Germany these programs are offered by health care insurers. Assessment of disease management from the hospital perspective will have to consider three questions: How large is the risk to compensate inadequate quality in outpatient care? Are there synergies in internal organisational development? Can the risk of inadequate funding of the global "integrated" budget be tolerated? Transsectoral quality assurance by valid performance indicators and implementation of a quality improvement process are essential. Internal organisational changes can be supported, particularly in the case of DRG introduction. The economic risk and financial output depends on the kind of disease being focussed by the disease management program. In assessing the underlying scientific evidence of their cost effectiveness, societal costs will have to be precisely differentiated from hospital-associated costs.

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.

Improving Supply Chain Risk Management by Introducing Performance Measurement Systems

OpenAIRE

Ryding, Anna; Sahlin, Jonatan

2013-01-01

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

Mainstreaming disaster risk management in higher education

Directory of Open Access Journals (Sweden)

MARCIA VILLASANA

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

Supply risk management from a transaction cost and social exchange theory perspective

OpenAIRE

Hoffmann, Petra; Schiele, Holger; Song, Michael; Krabbendam, Johannes Jacobus

2012-01-01

Supply risk management gained prominence over the last decade, both in the academic discourse and in practical application. This research examines the influence of Transaction Cost characteristics -behavioral uncertainty, environmental uncertainty and asset specificity on supply risk management performance. We also identify two antecedents of the transaction cost constructs based on social exchange theory: dependency and preferred customer status. We used survey data to discover a positive in...

Towards integrative risk management and more resilient societies

Science.gov (United States)

Al-Khudhairy, D.; Axhausen, K.; Bishop, S.; Herrmann, H.; Hu, B.; Kröger, W.; Lewis, T.; MacIntosh, J.; Nowak, A.; Pickl, S.; Stauffacher, D.; Tan, E.

2012-11-01

Society depends decisively on the availability of infrastructure systems such as energy, telecommunication, transportation, banking and finance, health care and governmental and public administration. Even selective damages of one of these infrastructures may result in disruptions of governmental, industrial or public functions. Vulnerability of infrastructures therefore provides spectacular leverage for natural disasters as well as criminal and terrorist actions. Threats and risks are part of the technological, economical, and societal development. This article focuses on the development and characterization of an integrative risk-management which, from the perspective of "resilient systems", can be seen as an innovative and pro-active crisis management approach dealing with the increasing amount of complexity in societies in a comprehensive, agile and adaptive way.

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...

Risk management perspective for climate service development - Results from a study on Finnish organizations

Science.gov (United States)

Harjanne, Atte; Haavisto, Riina; Tuomenvirta, Heikki; Gregow, Hilppa

2017-10-01

Weather, climate and climate change can cause significant risks to businesses and public administration. However, understanding these processes can also create opportunities. Information can help to manage these risks and opportunities, but in order to do so, it must be in line with how risk management and decision making works. To better understand how climate risks and opportunities are reflected in different organizational processes and what types of information is needed and used, we conducted a study on the perceptions and management of weather and climate risks in Finnish organizations and on their use of weather and climate information. In addition, we collected feedback on how the existing climate information tools should be developed. Data on climate risk management was collected in an online survey and in one full-day workshop. The survey was aimed to the Finnish public and private organizations who use weather and climate data and altogether 118 responses were collected. The workshop consisted of two parts: weather and climate risk management processes in general and the development of the current information tools to further address user needs.We found that climate risk management in organizations is quite diverse and often de-centralized and that external experts are considered the most useful sources of information. Consequently, users emphasize the need for networks of expertise and sector-specific information tools. Creating such services requires input and information sharing from the user side as well. Better temporal and spatial accuracy is naturally asked for, but users also stressed the need for transparency when it comes to communicating uncertainties, and the availability and up-to-datedness of information. Our results illustrate that weather and climate risks compete and blend in with other risks and changes perceived by the organizations and supporting information is sought from different types of sources. Thus the design and evaluation of

Supply Chain Disruptions Theory and Practice of Managing Risk

CERN Document Server

Mehrotra, Anuj; Ray, Saibal

2012-01-01

One of the most critical issues facing supply chain managers in today’s globalized and highly uncertain business environments is how to deal proactively with disruptions that might affect the complicated supply networks characterizing modern enterprises. Supply Chain Disruptions: Theory and Practice of Managing Risk presents a state-of the-art perspective on this particular issue. Supply Chain Disruptions: Theory and Practice of Managing Risk demonstrates that effective management of supply disruptions necessitates both strategic and tactical measures – the former involving optimal design of supply networks; the latter involving inventory, finance and demand management. It shows that managers ought to use all available levers at their disposal throughout the supply network – like sourcing and pricing strategies, providing financial subsidies, encouraging information sharing and incentive alignment between supply chain partners – in order to tackle supply disruptions. The editors combine up-to-date aca...

The strengths perspective in client’s social case management

OpenAIRE

Valpētere, Laima

2010-01-01

The subject diploma paper is „The strengths perspective in client’s social case management.” The aim of the diploma paper is to research the strengths perspective in client’s social case management. Diploma paper consists of five chapters. In the first chapter the case management was theoretically researched. In the second chapter was done description of the strengths perspective in the social work. In the third chapter by describing principles and strategies of strengths perspective, cli...

Risk application research on risk warning mechanism in organizational crisis management – taking Vanke Real Estate Co. Ltd., as an example

International Nuclear Information System (INIS)

Zhang, Long; Wang, Lihong

2016-01-01

With the changes in domestic and international economic environment, the increasingly dynamic and complex environment has become the pressures and challenges that enterprises have to face. From the perspective of healthy development of companies in long-term running, it’s urgent to build an enterprise risk warning system. This paper takes daily operational risks and crises in Chinese enterprises as the research object, synthetically using the relevant knowledge of risk management theory, early warning management theory, the strategic management theory, the analytic hierarchy process, and fuzzy mathematics to build a daily management risk early warning system for Chinese enterprises. By constructing the system, the enterprises can make dynamic tracking for different stages in business management, so as to realize the risk before crises, take some actions during and after crises.

Risks in homeownership : a perspective on The Netherlands

NARCIS (Netherlands)

Teye, A.L.; de Haan, J.; Elsinga, M.G.; Bondinuba, F.K.; Gbadegesin, J.T.

2017-01-01

Purpose
Risk in home ownership from mortgage providers’ perspectives has received tremendous attention than individual home owner’s perspectives in existing literature following the financial crisis in 2007/2008 within the euro zone. This paper explored the risks factors in homeowners from the

Chemical and radiation environmental risk management at the crossroads: Case studies

International Nuclear Information System (INIS)

Tran, N.; Burke, T.; Locke, P.

1999-01-01

Although many of the major environmental risk management decisions we face today require the simultaneous evaluation and control of both radiological and chemical risks, the separation of radiation and chemical risk management persists along legal, regulatory, programmatic, training and professional practice levels. In June 1998, a panel of 40 chemical and radiation risk experts met at an interactive workshop entitled 'Addressing the Similarities and Differences in Chemical and Radiation Environmental Risk Management,' in Annapolis, Maryland to discuss several perspectives on harmonizing chemical and radiation risk management approaches. At the conclusion of the meeting, workshop participants recommended that case studies of clean-up sites at which radioactive materials and hazardous chemical risks were addressed, be developed to help educate participants in the harmonization dialogue about their counterpart's issues, stimulate discussion and sharpen issues in a way that they can be resolved. Several key risk management issues that were highlighted from the discussion at the Annapolis meeting are being evaluated in the case studies. They include: decision criteria, costs and public/stakeholder input. This paper presents these key issues and the approach taken in the case studies. (author)

Bioethical perspective on acceptable-risk criteria for nuclear-waste management

International Nuclear Information System (INIS)

Maxey, M.N.

1977-01-01

Wisely managing the profound human and environmental risks of nuclear wastes requires complex moral and ethical judgments. Whereas traditional ethics is limited to interpersonal relations, a new system of ethics--bioethics--concerns man's relation with nature. Environmentalists claim that technology has upset the balance of nature, that nature is sacred and has inviolable rights, and that man must therefore regulate his behavior to conform to earth's limited carrying capacity. They also say that Judeo-Christian monotheism and anthropocentrism have sanctioned the exploitation of nature in the West, whereas Eastern religions teach adaptation to nature. Evidence suggests, however, that the balance of nature is neither absolute nor precarious, but is continually changing. Moreover, technology has brought more good than harm to man, and man's needs should supersede nature's. Other evidence indicates that the earth's resources may be neither limited nor nearly exhausted. Persuasive arguments also demonstrate that man's relation with nature is not traceable to religious assumptions. In assessing the risks/benefits of nuclear-waste management, we should avoid risks that jeopardize the rights of future generations without imposing excessive sacrifices on the present generation

Bioethical perspective on acceptable-risk criteria for nuclear-waste management

Energy Technology Data Exchange (ETDEWEB)

Maxey, M.N.

1977-07-15

Wisely managing the profound human and environmental risks of nuclear wastes requires complex moral and ethical judgments. Whereas traditional ethics is limited to interpersonal relations, a new system of ethics--bioethics--concerns man's relation with nature. Environmentalists claim that technology has upset the balance of nature, that nature is sacred and has inviolable rights, and that man must therefore regulate his behavior to conform to earth's limited carrying capacity. They also say that Judeo-Christian monotheism and anthropocentrism have sanctioned the exploitation of nature in the West, whereas Eastern religions teach adaptation to nature. Evidence suggests, however, that the balance of nature is neither absolute nor precarious, but is continually changing. Moreover, technology has brought more good than harm to man, and man's needs should supersede nature's. Other evidence indicates that the earth's resources may be neither limited nor nearly exhausted. Persuasive arguments also demonstrate that man's relation with nature is not traceable to religious assumptions. In assessing the risks/benefits of nuclear-waste management, we should avoid risks that jeopardize the rights of future generations without imposing excessive sacrifices on the present generation.

Management of Risks to Financial Stability from the Perspective of a Central Bank

Directory of Open Access Journals (Sweden)

Gabriela Lățea

2016-11-01

Full Text Available This article investigates the main issues pertaining to a central bank’s concerns relative to financial stability, as seen from the perspective of risks, sources and key ways of action. At macroeconomic level, central banks need to identify and monitor the risk that market operators face payment default towards local entities (companies, households, government and/or foreign creditors. Moreover, central banks entrusted with supervisory and licensing tasks are also carefully examining the various risks threatening banks, be they credit risk, liquidity risk, market risk, or risks associated with exposure concentration and distribution. On financial markets, prices, profit margins, interest rates, net exposure to certain financial instruments must be monitored to be able to identify build - ups of risks, stress and significant drawbacks to its adequate functioning. Adding to these is the Contingent Claims Analysis (CCA1, which involves oversight and assessment of risks in various sectors as well as of the needs to counter them, by drawing on the real market data to identify the probability of default in one sector or another and the impact on other sectors in an integrated manner.

Got risk? risk-centric perspective for spacecraft technology decision-making

Science.gov (United States)

Feather, Martin S.; Cornford, Steven L.; Moran, Kelly

2004-01-01

A risk-based decision-making methodology conceived and developed at JPL and NASA has been used to aid in decision making for spacecraft technology assessment, adoption, development and operation. It takes a risk-centric perspective, through which risks are used as a reasoning step to interpose between mission objectives and risk mitigation measures.

Management control of credit risk in the bank lending process

NARCIS (Netherlands)

Scheffer, S.B.

2004-01-01

Management control of credit risk in the bank lending processA casestudy to explore improvements from a managerial perspectiveAt the start of this project -back in 1998- new technologies and ideas were emerging among a new generation of financial engineering professionals who have been applying

Analytical perspectives on performance-based management

DEFF Research Database (Denmark)

Wadmann, Sarah; Johansen, Sarah; Lind, Ane

2013-01-01

Performance-based management (PBM) has become a dominant form of governance in health care and there is a need for careful assessment of its function and effects. This article contains a cross-disciplinary literature synthesis of current studies of PBM. Literature was retrieved by database search...... perspectives allows appreciation of otherwise implicit assumptions and potential implications of PBM. Reflections on such differences are important to ensure vigilant appropriation of shifting management tools in health quality governance.......Performance-based management (PBM) has become a dominant form of governance in health care and there is a need for careful assessment of its function and effects. This article contains a cross-disciplinary literature synthesis of current studies of PBM. Literature was retrieved by database searches....... In the functionalist perspective, PBM is perceived as a management tool aimed at improving health care services by means of market-based mechanisms. In the interpretive perspective, the adoption of PBM is understood as consequence of institutional and individual agents striving for public legitimacy. In the post...

Theory of Science Perspectives on Strategic Management Research

DEFF Research Database (Denmark)

Foss, Nicolai Juul

Arguments derived from the theory of science have been present in strategic management discourse since at least the beginning of the 1970s. The field's topjournal,the Strategic Management Journal, has printed several theory of sciencebased papers. Most positions in the theory of science...... (falsificationism, instrumentalism, realism, constructivism, etc.) have been present in the methodological discourse in the field. This chapter briefly reviews theory science applications to strategic management, before a distinctive perspective on the evolution of the strategic management field is developed....... According to this perspective, science progresses when deeper level mechanisms are identified and theorized. Theoretical reduction may therefore be an independent criterion of scientific progress. Application to the strategic management field of this perspective, which in the social sciences is closely...

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.

System robustness analysis in support of flood and drought risk management

CERN Document Server

Mens, MJP

2015-01-01

Floods and droughts have an increasing impact on societies worldwide. It is unlikely that the provision of flood protection infrastructure and reservoirs will eliminate this problem, especially as extreme events are expected to increase in probability and magnitude as a result of climate change. For this reason, the focus of water management has shifted to a risk-based approach in recent years; but this also has its limitations.This book examines system robustness as a new perspective on flood and drought risk management. The concept of robustness is familiar from other areas, such as engineer

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

From chemical risk assessment to environmental resources management: the challenge for mining.

Science.gov (United States)

Voulvoulis, Nikolaos; Skolout, John W F; Oates, Christopher J; Plant, Jane A

2013-11-01

On top of significant improvements and progress made through science and engineering in the last century to increase efficiency and reduce impacts of mining to the environment, risk assessment has an important role to play in further reducing such impacts and preventing and mitigating risks. This paper reflects on how risk assessment can improve planning, monitoring and management in mining and mineral processing operations focusing on the importance of better understanding source-pathway-receptor linkages for all stages of mining. However, in light of the ever-growing consumption and demand for raw materials from mining, the need to manage environmental resources more sustainably is becoming increasingly important. The paper therefore assesses how mining can form an integral part of wider sustainable resources management, with the need for re-assessing the potential of mining in the context of sustainable management of natural capital, and with a renewed focus on its the role from a systems perspective. The need for understanding demand and pressure on resources, followed by appropriate pricing that is inclusive of all environmental costs, with new opportunities for mining in the wastes we generate, is also discussed. Findings demonstrate the need for a life cycle perspective in closing the loop between mining, production, consumption and waste generation as the way forward.

Cyber Terrorism demands a Global Risks and Threats Strategic Management

International Nuclear Information System (INIS)

Gareva, R.

2007-01-01

The world is in the third wave of development, which is digital managed and networked. Information, which creates the knowledge is transferring thorough the Internet by exponential function. The rapid advancement of the computer technology has a great influence over the development of the critical information infrastructure, thus changing the safety environment and the national values and interests. This advancement produces threats and risks from computer perspective which are sublimated in different forms of international terrorism and particularly in cyber terrorism. The main aim of this paper is based on a thorough analysis of what is scientifically known and practiced when nowadays critical information infrastructure is in the focus of the cyber terrorism. The rapid IT development demands changes in the strategic management focus. As a result of a time-consuming theoretical and empirical research this paper suggests a methodology for strategic managing of: threats, risks and vulnerabilities. The proposed methodology is seen as a mean to increase the human security conscious in every sense of the word, and to promote the need for rules, procedures and standards establishment from the aspect of the strategic management in the new information epoch concerning. In addition, through a scientific discourse, a short attempt is made to relate Macedonian reality with the phenomenon mentioned above. The most fundamental set phrase is that the efficiency and promptly made decisions during strategic planning are a projection of the systematic organization of functions and models for managing the risks and threats of the critical information infrastructure. Hence, this paper could be seen as a perspective when taking in consideration the regional strategic management, and the cyber space vital functioning. (author)

Management of Cardiovascular Risk in Patients with Chronic Inflammatory Diseases

DEFF Research Database (Denmark)

Lindhardsen, Jesper; Kristensen, Søren Lund; Ahlehoff, Ole

2016-01-01

An increased risk of cardiovascular disease (CVD) has been observed in a range of chronic inflammatory diseases (CID), including rheumatoid arthritis (RA), psoriasis, inflammatory bowel diseases (IBD), and systemic lupus erythematosus (SLE). The increased risk of CVDs and reduced life expectancy...... considerable interest in recent years. We briefly summarize the current level of evidence of the association between CIDs and CVD and cardiovascular risk management recommendations. Perspectives of ongoing and planned trials are discussed in consideration of potential ways to improve primary and secondary CVD...

Risk Management and Nuclear Insurance Program within Societatea Nationala Nuclearelectrica S.A

International Nuclear Information System (INIS)

Havris, Alexandru

2008-01-01

This paper shall present the Risk Management and associated nuclear insurance program developed within Societatea Nationala 'Nuclearelectrica' S.A, owner and operator of Units 1 and 2 Cernavoda NPP, the Nuclear Fuel Plant and in charge with commissioning of Units 3 and 4. From the risk management perspective, the main aspects that energy industry has to face due to global economic changes within a dynamic business environment are highlighted. In order to mitigate the operational and investment associated risks, Societatea Nationala 'Nuclearelectrica' S.A. successfully developed, implemented and maintained a coherent insurance program both on local and international insurance market. (authors)

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

International Nuclear Information System (INIS)

Johnson, Curtis

1999-01-01

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

Fundamental Perspectives on Supply Chain Management

NARCIS (Netherlands)

Omta, S.W.F.; Hoenen, S.J.

2012-01-01

The aim of the present literature study is to find the fundamental perspectives/models in the realm of supply chain management and to investigate whether they can be extended based on recent literature findings. The fundamental perspectives were found using a two-tier snowball collection method,

The Manager's Role in Financial Reporting: A Risk Consultant's Perspective

Science.gov (United States)

Bell, Reginald L.

2007-01-01

This article presents an interview with Ray Gonzalez, a risk consultant at Deloitte & Touche LLP, in Houston, Texas, about the financial reporting responsibilities of top, middle, and frontline managers in large and medium-size firms. This interview spotlights the necessity for timely and accurate reporting of financial information relating to…

Integrating natural and social science perspectives on plant disease risk, management and policy formulation

Science.gov (United States)

Mills, Peter; Dehnen-Schmutz, Katharina; Ilbery, Brian; Jeger, Mike; Jones, Glyn; Little, Ruth; MacLeod, Alan; Parker, Steve; Pautasso, Marco; Pietravalle, Stephane; Maye, Damian

2011-01-01

Plant diseases threaten both food security and the botanical diversity of natural ecosystems. Substantial research effort is focused on pathogen detection and control, with detailed risk management available for many plant diseases. Risk can be assessed using analytical techniques that account for disease pressure both spatially and temporally. We suggest that such technical assessments of disease risk may not provide an adequate guide to the strategies undertaken by growers and government to manage plant disease. Instead, risk-management strategies need to account more fully for intuitive and normative responses that act to balance conflicting interests between stakeholder organizations concerned with plant diseases within the managed and natural environments. Modes of effective engagement between policy makers and stakeholders are explored in the paper, together with an assessment of such engagement in two case studies of contemporary non-indigenous diseases in one food and in one non-food sector. Finally, a model is proposed for greater integration of stakeholders in policy decisions. PMID:21624923

Understanding Suicide Across the Lifespan: A United States Perspective of Suicide Risk Factors, Assessment & Management.

Science.gov (United States)

Steele, Ian H; Thrower, Natasha; Noroian, Paul; Saleh, Fabian M

2018-01-01

Suicide is a troubling, preventable phenomenon. Prior to attempts, individuals often seek help, prompting practitioners to perform risk assessments that ideally use evidence-based risk management strategies. A literature review was performed using Harvard Countway Library of Medicine, Google Scholar, PubMed. Key words used were "Forensic Science," "Suicide Risk Management," "Pediatric Suicide Risk Factors," "Adult Suicide Risk Factors," "Geriatric Suicide Risk Factors," "Suicide Risk Assessment." Parameters limited articles to studies/reviews completed in the past twenty years in the United States. Results indicated predictors of suicide in juveniles were insomnia, burdensomeness, and recent conflicts with family or a romantic partner. Adults had greater risk if male, substance abusing, with marital/job loss. Elderly individuals with multiple medical comorbidities, hopelessness, and isolation were at higher risk. Everyone evaluated should be screened for access to firearms. Management of suicide risk involves providing the least restrictive form of treatment which maintains an individual's safety. © 2017 American Academy of Forensic Sciences.

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 )}.

Managing the water crisis: A youth perspective

Science.gov (United States)

Simataa, Faith

2017-04-01

The youth are identified as a key group to include in effective engagement and decision-making for water security and sustainable development. An increase in severe droughts in Namibia has highlighted its destructive impacts and led to a growing concern about the societal exposure of communities. Acknowledging the benefit of access to safe drinking water to humanity, in reality a disproportionate burden of protecting environmental benefits such as clean water is borne by the poor and vulnerable sections of the society. As a result, a key consideration highlighted in the Hyogo and Sendai Frameworks is the inclusion of gender & age perspectives, and vulnerable groups in planning for disaster risk reduction. Therefore, the paper argues that empowering the youth with knowledge and skills capability in disaster risk issues becomes essential for a sustainable management approach, and a potential 'rescue' mechanism from the web of poverty. The paper also illustrates that there is indeed weak adherence to good governance and that the government needs to improve structures for youth coordination to ensure water stewardship. Realizing this gap in knowledge, innovation and education to build a culture of resilience at all levels of society, the paper offers a perspective on the role of youth in the development agenda of Namibia and how they can influence decision-making processes in addressing water insecurity in the country. Keywords: Empowerment, Namibia, Water insecurity, Youth

Portfolio Risk of International Diversification of Kosovo Pension Fund: A Historical Perspective

Directory of Open Access Journals (Sweden)

Florin Aliu

2017-01-01

Full Text Available Finance do not stand on static variables like exact sciences, they are changeable and influenced from human actions. The question where to invest funds, is a crucial task for financial managers. The study aimed at assessing the portfolio risk of different asset managers of the Kosovo Pension and Saving Trust. In general, the assessment has been categorized in two historical perspectives. The first phase is an assessment of the portfolio risk of the fund from 2003 to 2009 and the second phase is from 2003 to 2013. In general, portfolio risk in the second stage has shown a reduction as compared to the first stage. However, the return side shows also a reduction in the second phase than the first one. The overall risk of Kosovo Pension and Saving Trust has been in accepted range. Majority of money have been invested in stocks which automatically exposes huge risk on KPST portfolio, since it is proven that financial markets are not stable and they are prone to asset bubbles.

CRISIS: A System for Risk Management

Directory of Open Access Journals (Sweden)

Erica Y. Sanchez

2012-12-01

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

Management of uncertainties and the role of risk in Andra programme

International Nuclear Information System (INIS)

Grevoz, A.

2004-01-01

This paper aims at presenting some aspects of the management of uncertainties in the programmes of Andra for the study of a deep geological repository for high level, long-lived wastes. After presenting very briefly the context of risk-management in the French safety rules, it will discuss how Andra has attempted to link the notions of uncertainties and risk in its 'Dossier 2001' for the clay medium, how this could be made compatible with a deterministic safety approach, what feedback it got from this first exercise, and what are the perspectives for future work. (author)

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.

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.

Identification of stakeholder perspectives on future flood management in the Rhine basin using Q methodology

Science.gov (United States)

Raadgever, G. T.; Mostert, E.; van de Giesen, N. C.

2008-08-01

This article identifies different stakeholder perspectives on future flood management in the downstream parts of the Rhine basin in Germany and The Netherlands. The perspectives were identified using Q methodology, which proved to be a good, but time-intensive, method for eliciting and analyzing stakeholder perspectives in a structured and unbiased way. Three shared perspectives were found: A) "Anticipation and institutions", B) "Space for flooding" and C) "Knowledge and engineering". These three perspectives share a central concern for the provision of safety against flooding, but disagree on the expected autonomous developments and the preferred measures. In perspective A, the expected climate change and economic growth call for fast action. To deal with the increasing flood risk, mostly institutional measures are proposed, such as the development of a stronger basin commission. In perspective B, an increasing spatial pressure on the river area is expected, and the proposed measures are focused on mitigating damage, e.g., through controlled flooding and compartmentalization. In perspective C, the role of expert knowledge and technological improvements is emphasized. Preferred strategies include strengthening the dikes and differentiation of safety standards. An overview of stakeholder perspectives can be useful in natural resources management for 1) setting the research agenda, 2) identifying differences in values and interests that need to be discussed, 3) creating awareness among a broad range of stakeholders, and 4) developing scenarios.

Risk Management and Nuclear Insurance Program within Societatea Nationala Nuclearelectrica S.A

Energy Technology Data Exchange (ETDEWEB)

Havris, Alexandru [Societatea Nationala Nuclearelectrica S.A, 65 Polona Street, code 010494, sector 1, Bucharest (Romania)

2008-07-01

This paper shall present the Risk Management and associated nuclear insurance program developed within Societatea Nationala 'Nuclearelectrica' S.A, owner and operator of Units 1 and 2 Cernavoda NPP, the Nuclear Fuel Plant and in charge with commissioning of Units 3 and 4. From the risk management perspective, the main aspects that energy industry has to face due to global economic changes within a dynamic business environment are highlighted. In order to mitigate the operational and investment associated risks, Societatea Nationala 'Nuclearelectrica' S.A. successfully developed, implemented and maintained a coherent insurance program both on local and international insurance market. (authors)

Swiss Energy Perspectives 2035 - Management summary

International Nuclear Information System (INIS)

2007-01-01

This management summary issued by the Swiss Federal Office of Energy (SFOE) summarises the Swiss Energy Perspectives 2035 - a five-part synthesis report published in 2007. The report presents no prognoses but provides an 'if-then' overview of a set of four scenarios that examined ways in which Swiss energy demands could be met by the year 2035. National and international boundary conditions taken into account are reviewed and the four scenarios are introduced and briefly described. These include the reference scenario 'Business as Usual', 'Increased Co-operation' between politics and business, 'New Priorities' with goals set to reduce energy consumption and CO 2 emissions and 'On the Way to a 2000-Watt Society'. Risks posed and chances provided are discussed, as are the options for taking action

Credit risk management in banks from the perspective of jurisprudence

Directory of Open Access Journals (Sweden)

Sovilj Ranko

2017-01-01

Full Text Available The level, structure and nature of problem loans are a significant source of credit risk in the banking business, with the main reason for developing and increasing problem loans indicate the need for a comprehensive and strategic approach to solving them. In addition, the accumulation of problem loans in banks' balance sheets negatively affects the credit activity of banks and, consequently has a negative impact on economic activity, primarily due to reduced availability of possible sources of financing both for companies and for the population. One of the main reasons for the increased credit risk exposure of banks, especially before the outbreak of the subprime crisis, are less developed models for evaluation and measurement of credit risk, as well as a poor assessment of collateral. Therefore, this paper points out to the importance of careful management of credit risk as well as the need to develop appropriate methods and models for the early detection of problem loans and reducing exposure to credit risk. In the last part of the paper, the author provides an overview of the most important collaterals, with specific reference to domestic jurisprudence.

[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.

Pan-European management of electricity portfolios: Risks and opportunities of contract bundling

International Nuclear Information System (INIS)

Gampert, Markus; Madlener, Reinhard

2011-01-01

Due to the liberalization of energy markets in the European Union, today's European utilities not only focus on electricity supply, but also offer exchange-traded 'structured products' or portfolio management for unbundling financial and physical risk positions. Many utilities are only able to provide these services in their domestic markets. In a globalized economy, the need for a centrally organized pan-European portfolio management has arisen, as it allows a simplified commodity sourcing in combination with an optimized risk management. In this paper, we examine the challenges to be overcome for establishing a European-wide bundling of electricity contracts. For this purpose, a case study based on the business perspective of RWE Supply and Trading in Central and Eastern Europe is carried out. In a first step, we analyze general requirements for a pan-European bundling of electricity contracts. Then, RWE's situation in Europe is examined, based on which we finally propose a concept to meet customer demands in Central and Eastern Europe. - Research highlights: → Analysis of electricity market liberalization in Central and Eastern Europe. → Identification of requirements and problems for pan-European bundling of contracts. → Case study based on RWE Supply and Trading perspective in Central and Eastern Europe. → Model development for pan-European unbundling of financial/physical risk positions.

NGNP Risk Management Database: A Model for Managing Risk

International Nuclear Information System (INIS)

Collins, John

2009-01-01

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

NGNP Risk Management Database: A Model for Managing Risk

Energy Technology Data Exchange (ETDEWEB)

John Collins

2009-09-01

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

Cardiovascular risk in rheumatoid arthritis: assessment, management and next steps

Science.gov (United States)

Zegkos, Thomas; Kitas, George; Dimitroulas, Theodoros

2016-01-01

Rheumatoid arthritis (RA) is associated with increased cardiovascular (CV) morbidity and mortality which cannot be fully explained by traditional CV risk factors; cumulative inflammatory burden and antirheumatic medication-related cardiotoxicity seem to be important contributors. Despite the acknowledgment and appreciation of CV disease burden in RA, optimal management of individuals with RA represents a challenging task which remains suboptimal. To address this need, the European League Against Rheumatism (EULAR) published recommendations suggesting the adaptation of traditional risk scores by using a multiplication factor of 1.5 if two of three specific criteria are fulfilled. Such guidance requires proper coordination of several medical specialties, including general practitioners, rheumatologists, cardiologists, exercise physiologists and psychologists to achieve a desirable result. Tight control of disease activity, management of traditional risk factors and lifestyle modification represent, amongst others, the most important steps in improving CV disease outcomes in RA patients. Rather than enumerating studies and guidelines, this review attempts to critically appraise current literature, highlighting future perspectives of CV risk management in RA. PMID:27247635

The management object in risk management approaches

OpenAIRE

Christiansen, Ulrik

2013-01-01

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

The Management Object in Risk Management Approaches

DEFF Research Database (Denmark)

Christiansen, Ulrik

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

What Do High-Risk Patients Value? Perspectives on a Care Management Program.

Science.gov (United States)

Ganguli, Ishani; Orav, E John; Weil, Eric; Ferris, Timothy G; Vogeli, Christine

2018-01-01

There is growing interest in coordinating care for high-risk patients through care management programs despite inconsistent results on cost reduction. Early evidence suggests patient-centered benefits, but we know little about how participants engage with the programs and what aspects they value. To explore care management program participants' awareness and perceived utility of program offerings. Cross-sectional telephone survey administered December 2015-January 2016. Patients enrolled in a Boston-area primary care-based care management program. Our main outcome was the number of topics in which patients reported having "very helpful" interactions with their care team in the past year. We analyzed awareness of one's care manager as an intermediate outcome, and then as a primary predictor of the main outcome, along with patient demographics, years in the program, attitudes, and worries as secondary predictors. The survey response rate was 45.8% (n = 1220); non-respondents were similar to respondents. More respondents reported worrying about family (72.8%) or financial issues (52.5%) than about their own health (41.6%). Seventy-four percent reported care manager awareness, particularly women (OR 1.33, 95% CI 1.01-1.77) and those with more years in the program (OR 1.16, 95% CI 1.03-1.30). While interaction rates ranged from 19.8% to 72.4% across topics, 81.3% rated at least one interaction as very helpful. Those who were aware of their care manager reported very helpful interactions on more topics (OR 2.77, 95% CI 2.15-3.56), as did women (OR 1.25, 95% CI 1.00-1.55), younger respondents (OR 0.98 for older age, 95% CI 0.97-0.99), and those with higher risk scores (OR 1.04, 95% CI 1.02-1.06), preference for deferring treatment decisions to doctors (OR 2.00, 95% CI 1.60-2.50), and reported control over their health (OR 1.67, 95% CI 1.33-2.10). High-risk patients reported helpful interactions with their care team around medical and social determinants of health

Estimation, assessment and management of risks

International Nuclear Information System (INIS)

Reinoehl-Kompa, S.

2005-01-01

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

Cultural values and diversity management perspectives : Testing the impact of cultural values on the diversity management perspectives in Sierra Leone, Germany and Finland

OpenAIRE

Mattila, Linda

2016-01-01

Cultural values impact the attitudes towards diversity management perspectives. Therefore they convey critical opportunities and challenges that a country encounters, and which need to be identified for the successful implementation of diversity management initiatives. This thesis discusses the different diversity management perspectives and their motivations and rationales to diversify and the process in which the national culture influences the organizational culture practices. The ...

Driving into danger: Perception and communication of flash flood risk from a cultural perspective

Science.gov (United States)

Coles, A.; Hirschboeck, K. K.; Fryberg, S.

2009-04-01

Flood risk managers educate the public on the dangers of driving through flooded roadways, yet losses to life and property continue to occur. This study integrates cultural psychology and risk perception theory to explore how culture, psychological processes, and behavior influence one another. Flood risk managers in Tucson, Arizona collaborated in the development of a questionnaire mailed to local residents. Questions regarding levels of trust, self-efficacy, social autonomy, social incorporation, time perspective, and situational factors were analyzed with respect to whether respondents stated that they have or have not driven through a flooded roadway. Respondents' decisions are influenced by the presence of signs and barricades, passengers, risk of personal injury or damage to the vehicle, and the availability of flood-related information. The most influential factor is the prior successful crossing of other vehicles. The results illuminate complex interrelations among the cultural factors and provide considerations for future risk perception research.

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

Directory of Open Access Journals (Sweden)

Min Huang

2013-01-01

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

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

Evolution of managerial problems from the perspective of management science

Directory of Open Access Journals (Sweden)

Marek Szarucki

2015-12-01

Full Text Available Managerial problems and the process of their solving play an important role both in the theory of management science and practice of organisations’ functioning. There is a gap in the literature related to the evolution of management problems in the context of the methodological approaches to solve them. The main goal of this paper was to analyse the evolution of the managerial problems from the perspective of management science and to present dominant methodological approaches for problem solving. Based on the extensive literature analysis in the discipline of management science, the evolution of the managerial problems was described with relation to the sixteen streams of management science. The author reviewed the selected classifications of the management theory as well as proposed his own perspective, which took into account managerial problems and their evolution over time. Moreover, there was presented an attempt to depict sources of management problems from the historical perspective within the methodological approaches of management science. Despite the broad view on management problems presented in this paper, such perspective gives a good ground for developing new more specific problem classifications, addressing different facets of managerial problems.

Risk management and post-marketing surveillance of CNS drugs.

Science.gov (United States)

Henningfield, Jack E; Schuster, Charles R

2009-12-01

Drugs affecting the central nervous system span a broad range of chemical entities, dosage forms, indications, and risks. Unintended consequences include potential abuse and overdose in non-patient drug abusers, deliberate tampering of drug dosage forms, and criminal behavior associated with diversion. Regulators must consider diverse factors to find the appropriate conditions of approval to minimize unintended consequences while enabling a level of access desired by health care providers and patients. This commentary appears as part of a special issue of Drug and Alcohol Dependence that focuses on risk management and post-marketing surveillance and addresses key issues that pose real-world challenges to pharmaceutical sponsors and regulators in particular. For example, in the U.S., Controlled Substances Act drug scheduling can be considered a risk management strategy but its legal authorities and administrative processes are independent from those of risk management (including Risk Evaluation and Mitigation Strategies or REMS); better harmonization of these approaches is vital from drug development and regulatory perspectives. Risk management would ideally be implemented on a strong science foundation demonstrating that the tools employed to mitigate risks and ensure safe use are effective. In reality, research and evaluation of tools in this area is in its infancy and will necessarily be an evolutionary process; furthermore, there is little precedent for linking interventions and program evolution to unintended consequences such as regional outbreaks of abuse and diversion. How such issues are resolved has the potential to stimulate or stifle innovations in drug development and advance or imperil health care.

Methodical Approaches to Risk Management in a Regional Commercial Bank

Directory of Open Access Journals (Sweden)

Elena Vladimirovna Altukhova

2016-03-01

Full Text Available The article presents the results of the research of the methodological and information infrastructure of the integrated risk management in a regional commercial bank. Within the study of the general development tendencies of the regional banking services market, the most significant risks for a regional bank are revealed. The analysis is carried out on the basis of the stress testing technique developed at the Plekhanov Russian University of Economics. It is based on a technique of dynamic economic and mathematical modeling with the application of information technologies. The created combination of the methodological and instrumental tools allows to carry out the dynamic scenario analysis of the activity of a commercial bank for the identification of potential risks and for the development of the strategy of financial management reducing the potential risks and leveling the consequences of their realization. The received tool allows during the computer test to watch the predicted dynamics of the condition of the key indicators of the activity of a regional commercial bank changing under the influence of the exogenous regulatory measures and instruments of bank management applied to decrease risk and at the same time to introduce adjustments in the perspective strategy of management. As the result of the analysis, the universal management model of the main bank risks in a regional commercial bank within three alternative scenarios is created. The software product allowing to develop and acquire the practical skills of the students in banking is developed. It also may help to develop the methodological support for the regulation of the organizational procedures of risk management in a regional commercial bank. The received software product may be used in a system of the improving the professional skills, and also for obtaining the expected data in a risk management system in a regional commercial bank.

Social and ethical perspectives of landslide risk mitigation measures

Science.gov (United States)

Kalsnes, Bjørn; Vangelsten, Bjørn V.

2015-04-01

Landslide risk may be mitigated by use of a wide range of measures. Mitigation and prevention options may include (1) structural measures to reduce the frequency, severity or exposure to the hazard, (2) non-structural measures, such as land-use planning and early warning systems, to reduce the hazard frequency and consequences, and (3) measures to pool and transfer the risks. In a given situation the appropriate system of mitigation measures may be a combination of various types of measures, both structural and non-structural. In the process of choosing mitigation measures for a given landslide risk situation, the role of the geoscientist is normally to propose possible mitigation measures on basis of the risk level and technical feasibility. Social and ethical perspectives are often neglected in this process. However, awareness of the need to consider social as well as ethical issues in the design and management of mitigating landslide risk is rising. There is a growing understanding that technical experts acting alone cannot determine what will be considered the appropriate set of mitigation and prevention measures. Issues such as environment versus development, questions of acceptable risk, who bears the risks and benefits, and who makes the decisions, also need to be addressed. Policymakers and stakeholders engaged in solving environmental risk problems are increasingly recognising that traditional expert-based decision-making processes are insufficient. This paper analyse the process of choosing appropriate mitigation measures to mitigate landslide risk from a social and ethical perspective, considering technical, cultural, economical, environmental and political elements. The paper focus on stakeholder involvement in the decision making process, and shows how making strategies for risk communication is a key for a successful process. The study is supported by case study examples from Norway and Italy. In the Italian case study, three different risk mitigation

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

Science.gov (United States)

Willetts, J; Fane, S; Mitchell, C

2007-01-01

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

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

CERN Document Server

Hopkin, Paul

2012-01-01

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

Rethinking risk management

International Nuclear Information System (INIS)

Kloman, H.F.

1992-01-01

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

Cross-Cutting Risk Framework: Mining Data for Common Risks Across the Portfolio

Science.gov (United States)

Klein, Gerald A., Jr.; Ruark, Valerie

2017-01-01

The National Aeronautics and Space Administration (NASA) defines risk management as an integrated framework, combining risk-informed decision making and continuous risk management to foster forward-thinking and decision making from an integrated risk perspective. Therefore, decision makers must have access to risks outside of their own project to gain the knowledge that provides the integrated risk perspective. Through the Goddard Space Flight Center (GSFC) Flight Projects Directorate (FPD) Business Change Initiative (BCI), risks were integrated into one repository to facilitate access to risk data between projects. With the centralized repository, communications between the FPD, project managers, and risk managers improved and GSFC created the cross-cutting risk framework (CCRF) team. The creation of the consolidated risk repository, in parallel with the initiation of monthly FPD risk managers and risk governance board meetings, are now providing a complete risk management picture spanning the entire directorate. This paper will describe the challenges, methodologies, tools, and techniques used to develop the CCRF, and the lessons learned as the team collectively worked to identify risks that FPD programs projects had in common, both past and present.

Disciplinary Perspectives on Information Management

DEFF Research Database (Denmark)

Madsen, Dorte

This paper addresses the need for a coherent conceptual framework for information management. The paper discusses the field of information management as represented by existing analyses of author affiliations, and a distinction is introduced between information management at institutional level...... and information management at conceptual level. Conceptual frameworks should be founded on concepts. One of the challenges of developing a framework is to delimit the area of inquiry. Is information management a discipline in its own right, or is information management several disciplines? Little research has...... examined information management in a disciplinary perspective. It is argued that an exploration of the components of a discipline is important as a foundation for development of a conceptual framework for information management. The paper concludes by suggesting that information management has three...

Disciplinary Perspectives on Information Management

DEFF Research Database (Denmark)

Madsen, Dorte

2013-01-01

This paper addresses the need for a coherent conceptual framework for information management. The paper discusses the field of information management as represented by existing analyses of author affiliations, and a distinction is introduced between information management at institutional level...... and information management at conceptual level. Conceptual frameworks should be founded on concepts. One of the challenges of developing a framework is to delimit the area of inquiry. Is information management a discipline in its own right, or is information management several disciplines? Little research has...... examined information management in a disciplinary perspective. It is argued that an exploration of the components of a discipline is important as a foundation for development of a conceptual framework for information management. The paper concludes by suggesting that information management has three...

Risk management in the broiler agro industrial chain: analysis of chicken producers´perspective in Ubá, Minas Gerais

Directory of Open Access Journals (Sweden)

Leandro Gomes Oliveira

2015-12-01

Full Text Available The broiler agro industrial chain is very important for Brazilian agribusiness. Despite employing vertical integration to coordinate its supply chain, risks events are inherent and can influence its operation and performance. This paper aims to identify risks that impact negatively on broiler chain, analyzing the perspective of producers from Ubá City, in Minas Gerais, as well as to identify which strategies are being used in this chain for mitigating them.A literature review to identify the main risks inherent to this chain was executed, followed by the application of a questionnaire answered by the producers. Lastly, an in-depth interview was done to understand the responses and to identify some mitigation strategies adopted in this chain. It was analyzed that more impactful risks in the broiler chain, according to producers’ perspective, was temperature increase, price received by the producer and risk related to investment. Less important risks were road conditions, contamination of animal´s food and increase in the price of chicken meat. It was also found that many of the risks identified in this research have already mitigation strategies, mainly by the use of new technologies and equipment.

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...

Causes and remedies for the dominant risk factors in Enterprise System implementation projects: the consultants' perspective.

Science.gov (United States)

Lech, Przemysław

2016-01-01

The purpose of this research was to investigate the causes of the dominant risk factors, affecting Enterprise System implementation projects and propose remedies for those risk factors from the perspective of implementation consultants. The study used a qualitative research strategy, based on e-mail interviews, semi-structured personal interviews with consultants and participant observation during implementation projects. The main contribution of this paper is that it offers viable indications of how to mitigate the dominant risk factors. These indications were grouped into the following categories: stable project scope, smooth communication supported by the project management, dedicated, competent and decision-making client team, competent and engaged consultant project manager, schedule and budget consistent with the project scope, use of methodology and procedures, enforced and enabled by the project managers, competent and dedicated consultants. A detailed description is provided for each category.

Integrated environmental risk assessment and whole-process management system in chemical industry parks.

Science.gov (United States)

Shao, Chaofeng; Yang, Juan; Tian, Xiaogang; Ju, Meiting; Huang, Lei

2013-04-19

Chemical industry parks in China are considered high-risk areas because they present numerous risks that can damage the environment, such as pollution incidents. In order to identify the environmental risks and the principal risk factors in these areas, we have developed a simple physical model of a regional environmental risk field (ERF) using existing dispersal patterns and migration models. The regional ERF zoning was also conducted and a reference value for diagnostic methods was developed to determine risk-acceptable, risk-warning, and risk-mitigation zones, which can provide a risk source layout for chemical industry parks. In accordance with the environmental risk control requirements, this study focused on the three stages of control and management of environmental risk and established an environmental risk management system including risk source identification and assessment, environmental safety planning, early risk warning, emergency management, assessment of environmental effects, and environmental remediation of pollution accidents. By using this model, the environmental risks in Tianjin Binhai New Area, the largest chemical industry park in China, were assessed and the environmental risk zoning map was drawn, which suggested the existence of many unacceptable environmental risks in this area. Thus, relevant suggestions have been proposed from the perspective of the adjustment of risk source layout, intensified management of environmental risk control and so on.

Integrated Environmental Risk Assessment and Whole-Process Management System in Chemical Industry Parks

Science.gov (United States)

Shao, Chaofeng; Yang, Juan; Tian, Xiaogang; Ju, Meiting; Huang, Lei

2013-01-01

Chemical industry parks in China are considered high-risk areas because they present numerous risks that can damage the environment, such as pollution incidents. In order to identify the environmental risks and the principal risk factors in these areas, we have developed a simple physical model of a regional environmental risk field (ERF) using existing dispersal patterns and migration models. The regional ERF zoning was also conducted and a reference value for diagnostic methods was developed to determine risk-acceptable, risk-warning, and risk-mitigation zones, which can provide a risk source layout for chemical industry parks. In accordance with the environmental risk control requirements, this study focused on the three stages of control and management of environmental risk and established an environmental risk management system including risk source identification and assessment, environmental safety planning, early risk warning, emergency management, assessment of environmental effects, and environmental remediation of pollution accidents. By using this model, the environmental risks in Tianjin Binhai New Area, the largest chemical industry park in China, were assessed and the environmental risk zoning map was drawn, which suggested the existence of many unacceptable environmental risks in this area. Thus, relevant suggestions have been proposed from the perspective of the adjustment of risk source layout, intensified management of environmental risk control and so on. PMID:23603866

Integrated Environmental Risk Assessment and Whole-Process Management System in Chemical Industry Parks

Directory of Open Access Journals (Sweden)

Lei Huang

2013-04-01

Full Text Available Chemical industry parks in China are considered high-risk areas because they present numerous risks that can damage the environment, such as pollution incidents. In order to identify the environmental risks and the principal risk factors in these areas, we have developed a simple physical model of a regional environmental risk field (ERF using existing dispersal patterns and migration models. The regional ERF zoning was also conducted and a reference value for diagnostic methods was developed to determine risk-acceptable, risk-warning, and risk-mitigation zones, which can provide a risk source layout for chemical industry parks. In accordance with the environmental risk control requirements, this study focused on the three stages of control and management of environmental risk and established an environmental risk management system including risk source identification and assessment, environmental safety planning, early risk warning, emergency management, assessment of environmental effects, and environmental remediation of pollution accidents. By using this model, the environmental risks in Tianjin Binhai New Area, the largest chemical industry park in China, were assessed and the environmental risk zoning map was drawn, which suggested the existence of many unacceptable environmental risks in this area. Thus, relevant suggestions have been proposed from the perspective of the adjustment of risk source layout, intensified management of environmental risk control and so on.

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

Occupational Health Psychology in Romania: Managers' and employees' needs and perspective

Directory of Open Access Journals (Sweden)

Virga, Delia

2012-04-01

Full Text Available Occupational Health Psychology (OHP in Romania is now emerging, in the practitioner’s and educational field. The risk management paradigm provides a framework for this paper. The analysis focus is on presenting the perception of current national approach related to stressors and processes that threat employee’s and organizational health. Further, we compare the employees’ and managers’ perspective on OHP issues looking, in Romania and other European countries. Finally we conclude and address OHP challenges and opportunities in Romania.

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

International Nuclear Information System (INIS)

Kalra, S.P.

2004-01-01

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

Safety in psychiatric inpatient care: The impact of risk management culture on mental health nursing practice.

Science.gov (United States)

Slemon, Allie; Jenkins, Emily; Bungay, Vicky

2017-10-01

The discourse of safety has informed the care of individuals with mental illness through institutionalization and into modern psychiatric nursing practices. Confinement arose from safety: out of both societal stigma and fear for public safety, as well as benevolently paternalistic aims to protect individuals from self-harm. In this paper, we argue that within current psychiatric inpatient environments, safety is maintained as the predominant value, and risk management is the cornerstone of nursing care. Practices that accord with this value are legitimized and perpetuated through the safety discourse, despite evidence refuting their efficacy, and patient perspectives demonstrating harm. To illustrate this growing concern in mental health nursing care, we provide four exemplars of risk management strategies utilized in psychiatric inpatient settings: close observations, seclusion, door locking and defensive nursing practice. The use of these strategies demonstrates the necessity to shift perspectives on safety and risk in nursing care. We suggest that to re-centre meaningful support and treatment of clients, nurses should provide individualized, flexible care that incorporates safety measures while also fundamentally re-evaluating the risk management culture that gives rise to and legitimizes harmful practices. © 2017 The Authors Nursing Inquiry published by John Wiley & Sons Ltd.

Risk to civilization: A planetary science perspective

International Nuclear Information System (INIS)

Chapman, C.R.; Morrison, D.

1988-01-01

One of the most profound changes in our perspective of the solar system resulting from the first quarter century of planetary exploration by spacecraft is the recognition that planets, including Earth, were bombarded by cosmic projectiles for 4.5 aeons and continue to be bombarded today. Although the planetary cratering rate is much lower now than it was during the first 0.5 aeons, sizeable Earth-approaching asteroids and comets continue to hit the Earth at a rate that poses a finite risk to civilization. The evolution of this planetary perspective on impact cratering is gradual over the last two decades. It took explorations of Mars and Mercury by early Mariner spacecraft and of the outer solar system by the Voyagers to reveal the significance of asteroidal and cometary impacts in shaping the morphologies and even chemical compositions of the planets. An unsettling implication of the new perspective is addressed: the risk to human civilization. Serious scientific attention was given to this issue in July 1981 at a NASA-sponsored Spacewatch Workshop in Snowmass, Colorado. The basic conclusion of the 1981 NASA sponsored workshop still stands: the risk that civilization might be destroyed by impact with an as-yet-undiscovered asteroid or comet exceeds risk levels that are sometimes deemed unacceptable by modern societies in other contexts. Yet these impact risks have gone almost undiscussed and undebated. The tentative quantitative assessment by some members of the 1981 workshop was that each year, civilization is threatened with destruction with a probability of about 1 in 100,000. The enormous spread in risk levels deemed by the public to be at the threshold of acceptability derives from a host of psychological factors that were widely discussed in the risk assessment literature

Managing occupational risk in creative practice: a new perspective for occupational health and safety.

Science.gov (United States)

Oughton, Nicholas

2013-01-01

There has been little recognition of the fact that creative production operates in a somewhat different environment and timeframe to that associated with traditional industries. This has resulted in the application of an orthodox, generic or ``one size fits all'' framework of Occupational Health and Safety (OHS) systems across all industries. With the rapid growth of ``creative industry,'' certain challenges arise from the application of this "generic" strategy, mainly because the systems currently employed may not be entirely suitable for creative practice. Some OHS practitioners suggest that the current OHS paradigm is failing. This paper questions the appropriateness of applying a twentieth century OHS model in the present industrial context, and considers what framework will best provide for the well-being of creative workers and their enterprise in the twenty-first century. The paper questions the notion of "Risk" and the paradox associated with "Risk Management," particularly in the context of the creative process. Clearly, risk taking contributes to creative enterprise and effective risk management should accommodate both risk minimization and risk exploitation.

Alternative Perspectives on Risk

Science.gov (United States)

Davison, Jeannie; Orasanu, J.; Connors, Mary M. (Technical Monitor)

1997-01-01

The goal of the commercial air transport system is to provide air transportation to the flying public at an acceptable cost with minimal risk. in an ideal situation these three goals would support each other. In fact, it is sometimes the case that the goals conflict: getting passengers to their destinations on time may conflict with fixing a minor mechanical malfunction that may or may not impact safety; flying a route that will avoid turbulence, thereby providing passengers with a more comfortable ride, may consume more fuel; managing traffic density may mean aircraft are delayed or must use an approach that will result in a long taxi to their gates, costing time and fuel. Various players in the system--pilots, dispatchers, controllers, as well as managers in the airline carriers and traffic management system--make decisions every day that involve trade-offs of benefits and costs. The prospect of revisions in the air traffic management system, with shifts in responsibilities from controllers to users, including airline operations center personnel and pilots, means that individuals may be performing either new jobs or old jobs under new guidance. It will be essential to know how the various players (a) perceive the risks and benefits associated with the decisions they will make under the old and new control structures, and (b) how much risk they are willing to accept in making decisions. Risk is here defined as the probability and magnitude of negative events (after Slovic, 1987). Of primary interest are risks associated with traffic, weather, and operational factors such as schedule, fuel consumption, and passenger service. Previous research has documented differences between groups in perceptions of risks associated with both everyday and aviation related situations. Risk perception varies as a function of familiarity with the situation, degree to which one is potentially affected by the risk, the level of control one has over the situation, and one's level of

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

African Journals Online (AJOL)

Ngulup

Moi University, School of Information Sciences, Eldoret, Kenya .... risk from the perspective of the impact upon organisational objectives. ... equipment failure); financial and systems risks (risks with financial controls and systems, such .... The World Bank (2000) states that poor record keeping affects the entire accounting.

Rethinking the relationship between flood risk perception and flood management.

Science.gov (United States)

Birkholz, S; Muro, M; Jeffrey, P; Smith, H M

2014-04-15

Although flood risk perceptions and their concomitant motivations for behaviour have long been recognised as significant features of community resilience in the face of flooding events, there has, for some time now, been a poorly appreciated fissure in the accompanying literature. Specifically, rationalist and constructivist paradigms in the broader domain of risk perception provide different (though not always conflicting) contexts for interpreting evidence and developing theory. This contribution reviews the major constructs that have been applied to understanding flood risk perceptions and contextualises these within broader conceptual developments around risk perception theory and contemporary thinking around flood risk management. We argue that there is a need to re-examine and re-invigorate flood risk perception research, in a manner that is comprehensively underpinned by more constructivist thinking around flood risk management as well as by developments in broader risk perception research. We draw attention to an historical over-emphasis on the cognitive perceptions of those at risk to the detriment of a richer understanding of a wider range of flood risk perceptions such as those of policy-makers or of tax-payers who live outside flood affected areas as well as the linkages between these perspectives and protective measures such as state-supported flood insurance schemes. Conclusions challenge existing understandings of the relationship between risk perception and flood management, particularly where the latter relates to communication strategies and the extent to which those at risk from flooding feel responsible for taking protective actions. Copyright © 2014 Elsevier B.V. All rights reserved.

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.

Radiation risks in perspective

International Nuclear Information System (INIS)

Pochin, E.E.

1987-01-01

The problem of risk assessment is greater at the low effective dose rates now observed in the majority of all forms of exposure, usually of less than 3 mSv per year from natural causes, from occupational exposure, and from exposure of 'critical groups' of the general public. For most populations there are particular problems also in epidemiological studies at low dose, in addition to those due to the very large numbers of person-years that need to be studied and the long latencies of most radiation effects. Adequate estimates can, however, now be made of the carcinogenic risk of exposure at higher dose of various organs selectively and of the whole body uniformly, and of modes of inference to the risk at lower dose. Estimates can also be made of the risks of inducing major types of inheritable and developmental abnormality. An essential step in viewing the sum of all such radiation risks in the perspective of other occupational and public risks must now be to develop an informed consensus on the relative weight that is regarded as attaching to hazards of different kind and severity. (author)

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.

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....

Software Development Management: Empirical and Analytical Perspectives

Science.gov (United States)

Kang, Keumseok

2011-01-01

Managing software development is a very complex activity because it must deal with people, organizations, technologies, and business processes. My dissertation consists of three studies that examine software development management from various perspectives. The first study empirically investigates the impacts of prior experience with similar…

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

Directory of Open Access Journals (Sweden)

Zhengqi He

2018-04-01

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

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 ...

Real Estate Economics, Management and Investments: New Perspectives and Frontiers

Directory of Open Access Journals (Sweden)

Vincenzo Del Giudice

2018-03-01

Full Text Available New perspectives and frontiers were highlighted in a Special Issue on “Real Estate Economics, Finance and Investments”. The twenty-eight papers that were selected and published emanated from scholars from universities all over the world with the aim to represent more recent advances in building management, mass appraisal methods, real estate risk management, economic evaluation of real estate investment projects, real estate market, property, social housing, real estate economics, real estate finance, building transformation and economic effects on environment. These papers helped to determine a unique and valuable opportunity to experiment with multiple approaches to these ever more crucial topics. This note proposes a brief review of the twenty-eight papers, concluding with some reflections about policy, practice and research on real estate issues.

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.

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...

Organisational culture: A contemporary management perspective

Directory of Open Access Journals (Sweden)

Richard Weeks

2010-12-01

Full Text Available Purpose: The purpose of this paper is to analyse the concept "organisational culture from a traditional and a more contemporary management perspective. Problem investigated: The concept organizational culture has assumed a very prominent place within the management literature and has been analysed from diverse multidisciplinary perspectives. Central to the importance attributed to the concept is the fact that it acts as a perceptual and behavioural determinant, which implies that it will have a significant impact on all human related institutional activities and thus the interest in the concept and its management. Researchers and management practitioners have come to assume that while the concept is difficult to manage in practice, it is possible to determine the prevailing culture of an institution, identify what is termed to be a desired culture for an institution and then analyse the cultural gap that exists. Based on the analysis conducted, it is further frequently assumed that the transition from the prevailing to a desired culture can be managed. A more contemporary management perspective, based on complexity theory, would appear to challenge the assumption of being able to actively manage the organisation's culture transformation process to ensure that a desired culture is manifest within the institution. The traditional and more contemporary approaches for dealing with the concept "organisational culture" are the focus of discussion and analysis in this paper. Methodology: A multidisciplinary literature review and analysis is undertaken to gain an insight of traditional and contemporary management theory and practice, as it relates to the concept "organisational culture" and its management. Findings: An important conclusion drawn from the study is that traditional paradigms of organisational culture management, that evolved within a more mechanistic manufacturing economy, is no longer effective for dealing with the unpredictable and

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...

Underwriters' view of risk - An adjuster's perspective

International Nuclear Information System (INIS)

Smith, M.

1992-01-01

This paper reviews how a risk assessment is performed by an insurance adjuster to determine rates and insurability of a client. It provides a historical perspective on insurance and how information systems are used to monitor past claims to determine future risk. Although this paper does not specifically address the oil and gas industry, it is informative in identifying how insurance rates are determined and risk assessments for various oil and gas operations are performed

Initial perspectives on process threat management

International Nuclear Information System (INIS)

Whiteley, James R. Rob; Mannan, M. Sam

2004-01-01

Terrorist and criminal acts are now considered credible risks in the process industries. Deliberate attacks on the nation's petroleum refineries and chemical plants would pose a significant threat to public welfare, national security, and the US economy. To-date, the primary response of government and industry has been on improved security to prevent attacks and the associated consequences. While prevention is clearly preferred, the potential for successful attacks must be addressed. If plant security is breached, the extent of the inflicted damage is determined by the available plant safety systems and procedures. We refer to this 'inside the gate' response as process threat management. The authors have initiated a joint industry/academia study to address: - the level of safety provided by existing plant equipment and safety systems in response to a terrorist act, and; - identification of process (rather than security) needs or opportunities to address this new safety concern. This paper describes the initial perspectives and issues identified by the team at the beginning of the study

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)

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...

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).

Governmental management of chemical risk

International Nuclear Information System (INIS)

Zimmerman, R.

1990-01-01

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

Managing the risks of risk management on large fires

Science.gov (United States)

Donald G. MacGregor; Armando González-Cabán

2013-01-01

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

Risk management 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.

Resensi Buku Islamic Perspective on Management: Contemporary Issues

OpenAIRE

Kusuma, Bayu Mitra Adhyatma

2016-01-01

Judul buku : Islamic Perspective on Management: ContemporaryIssuesPenulis : Nor ‘Azizah Kamri, dkk.Penerbit : YaPEIM Management Academy (kerjasamadengan University of Malaya Press)Tebal : xiv + 463 halamanCetakan pertama : November 2013Kota terbit : Kuala Lumpur

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.

Optimizing risk management

International Nuclear Information System (INIS)

Kindred, G.W.

2000-01-01

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

Risk management and safety

International Nuclear Information System (INIS)

Niehaus, F.; Novegno, A.

1985-01-01

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

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 ...

[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.

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 ...

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.

Risk management in nuclear projects

International Nuclear Information System (INIS)

Salles, Claudio J.R.

2002-01-01

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

Risk Management for e-Business

Directory of Open Access Journals (Sweden)

2007-01-01

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

Managing hyperthyroidism in pregnancy: current perspectives

Science.gov (United States)

Andersen, Stine Linding; Laurberg, Peter

2016-01-01

Hyperthyroidism in women who are of childbearing age is predominantly of autoimmune origin and caused by Graves’ disease. The physiological changes in the maternal immune system during a pregnancy may influence the development of this and other autoimmune diseases. Furthermore, pregnancy-associated physiological changes influence the synthesis and metabolism of thyroid hormones and challenge the interpretation of thyroid function tests in pregnancy. Thyroid hormones are crucial regulators of early development and play an important role in the maintenance of a normal pregnancy and in the development of the fetus, particularly the fetal brain. Untreated or inadequately treated hyperthyroidism is associated with pregnancy complications and may even program the fetus to long-term development of disease. Thus, hyperthyroidism in pregnant women should be carefully managed and controlled, and proper management involves different medical specialties. The treatment of choice in pregnancy is antithyroid drugs (ATDs). These drugs are effective in the control of maternal hyperthyroidism, but they all cross the placenta, and so need careful management and control during the second half of pregnancy considering the risk of fetal hyper- or hypothyroidism. An important aspect in the early pregnancy is that the predominant side effect to the use of ATDs in weeks 6–10 of pregnancy is birth defects that may develop after exposure to available types of ATDs and may be severe. This review focuses on four current perspectives in the management of overt hyperthyroidism in pregnancy, including the etiology and incidence of the disease, how the diagnosis is made, the consequences of untreated or inadequately treated disease, and finally how to treat overt hyperthyroidism in pregnancy. PMID:27698567

Managing hyperthyroidism in pregnancy: current perspectives.

Science.gov (United States)

Andersen, Stine Linding; Laurberg, Peter

2016-01-01

Hyperthyroidism in women who are of childbearing age is predominantly of autoimmune origin and caused by Graves' disease. The physiological changes in the maternal immune system during a pregnancy may influence the development of this and other autoimmune diseases. Furthermore, pregnancy-associated physiological changes influence the synthesis and metabolism of thyroid hormones and challenge the interpretation of thyroid function tests in pregnancy. Thyroid hormones are crucial regulators of early development and play an important role in the maintenance of a normal pregnancy and in the development of the fetus, particularly the fetal brain. Untreated or inadequately treated hyperthyroidism is associated with pregnancy complications and may even program the fetus to long-term development of disease. Thus, hyperthyroidism in pregnant women should be carefully managed and controlled, and proper management involves different medical specialties. The treatment of choice in pregnancy is antithyroid drugs (ATDs). These drugs are effective in the control of maternal hyperthyroidism, but they all cross the placenta, and so need careful management and control during the second half of pregnancy considering the risk of fetal hyper- or hypothyroidism. An important aspect in the early pregnancy is that the predominant side effect to the use of ATDs in weeks 6-10 of pregnancy is birth defects that may develop after exposure to available types of ATDs and may be severe. This review focuses on four current perspectives in the management of overt hyperthyroidism in pregnancy, including the etiology and incidence of the disease, how the diagnosis is made, the consequences of untreated or inadequately treated disease, and finally how to treat overt hyperthyroidism in pregnancy.

The Green, Amber, Red Delineation of Risk and Need (GARDIAN) management system: a pragmatic approach to optimizing heart health from primary prevention to chronic disease management.

Science.gov (United States)

Carrington, Melinda J; Kok, Simone; Jansen, Kiki; Stewart, Simon

2013-08-01

A sustained epidemic of cardiovascular disease and related risk factors is a global phenomenon contributing significantly to premature deaths and costly morbidity. Preventative strategies across the full continuum of life, from a population to individual perspective, are not optimally applied. This paper describes a simple and adaptable 'traffic-light' system we have developed to systematically perform individual risk and need delineation in order to 'titrate' the intensity and frequency of healthcare intervention in a cost-effective manner. The GARDIAN (Green Amber Red Delineation of Risk and Need) system is an individual assessment of risk and need that modulates the frequency and intensity of future healthcare intervention. Individual assessment of risk and need for ongoing intervention and support is determined with reference to three domains: (1) clinical stability, (2) gold-standard management, and (3) a broader, holistic assessment of individual circumstance. This can be applied from a primary prevention, secondary prevention, or chronic disease management perspective. Our experience with applying and validating GARDIAN to titrate healthcare resources according to need has been extensive to date, with >5000 individuals profiled in a host of clinical settings. A series of clinical randomized trials will determine the impact of the GARDIAN system on important indices of healthcare utilization and health status. The GARDIAN model to delineating risk and need for varied intensity of management shows strong potential to cost effectively improve health outcomes for both individuals at risk of heart disease and those with established heart disease.

Promoting Service User Inclusion in Risk Assessment and Management: A Pilot Project Developing a Human Rights-Based Approach

Science.gov (United States)

Greenhill, Beth; Whitehead, Richard

2011-01-01

Recent reports highlight the extent to which many people with learning disabilities are not afforded access to their basic human rights. In addition, traditional approaches to risk management often focus on professional assessments of risks and challenging behaviour and exclude service user perspectives. In this paper, we outline what we believe…

Strategy for Improving Efficiency of Supply Chain Quality Management in Buyer-Supplier Dyads: The Suppliers’ Perspective

Directory of Open Access Journals (Sweden)

Hyun Jung Kim

2016-01-01

Full Text Available This study analyzes the efficiency of supply chain quality management (SCQM by grouping buyers and suppliers and conducting an empirical analysis of aspects affecting SCQM efficiency from the supplier’s perspective. Two stages of data analysis were conducted: (1 classify buyer and supplier efficiency by means of data envelopment analysis (DEA and sort the data results into a 2×2 matrix and (2 conduct a statistical analysis to verify influential aspects. The results depict the average value of Group I to be higher than that of Group II, while the average value of Group IV was found to be much lower than that of Group III. In addition, specific aspects have a significant impact on certain groups: Groups I and II are affected by infrastructure, delivery of quality, talent development, and risk management in that order; Groups II and III are likewise influenced by risk management, talent development, and delivery of quality, whereas Groups III and IV are influenced by talent development, delivery of quality, and risk management in that order.

Cost-effectiveness of preventive case management for parents with a mental illness: a randomized controlled trial from three economic perspectives.

Science.gov (United States)

Wansink, Henny J; Drost, Ruben M W A; Paulus, Aggie T G; Ruwaard, Dirk; Hosman, Clemens M H; Janssens, Jan M A M; Evers, Silvia M A A

2016-07-07

The children of parents with a mental illness (COPMI) are at increased risk for developing costly psychiatric disorders because of multiple risk factors which threaten parenting quality and thereby child development. Preventive basic care management (PBCM) is an intervention aimed at reducing risk factors and addressing the needs of COPMI-families in different domains. The intervention may lead to financial consequences in the healthcare sector and in other sectors, also known as inter-sectoral costs and benefits (ICBs). The objective of this study was to assess the cost-effectiveness of PBCM from three perspectives: a narrow healthcare perspective, a social care perspective (including childcare costs) and a broad societal perspective (including all ICBs). Effects on parenting quality (as measured by the HOME) and costs during an 18-month period were studied in in a randomized controlled trial. Families received PBCM (n = 49) or care as usual (CAU) (n = 50). For all three perspectives, incremental cost-effectiveness ratios (ICERs) were calculated. Stochastic uncertainty in the data was dealt with using non-parametric bootstraps. Sensitivity analyses included calculating ICERs excluding cost outliers, and making an adjustment for baseline cost differences. Parenting quality improved in the PBCM group and declined in the CAU group, and PBCM was shown to be more costly than CAU. ICERs differ from 461 Euros (healthcare perspective) to 215 Euros (social care perspective) to 175 Euros (societal perspective) per one point improvement on the HOME T-score. The results of the sensitivity analyses, based on complete cases and excluding cost outliers, support the finding that the ICER is lower when adopting a broader perspective. The subgroup analysis and the analysis with baseline adjustments resulted in higher ICERs. This study is the first economic evaluation of family-focused preventive basic care management for COPMI in psychiatric and family services. The effects

Risk perspective on final disposal of nuclear waste. Individuals, society and communication; Riskperspektiv paa slutfoervaring av kaernavfall. Individ, samhaelle och kommunikation

Energy Technology Data Exchange (ETDEWEB)

Lindblad, Inga-Britt (ed.)

2007-09-29

This report tries to evaluate the importance of the risk perspective in connection with final storage of nuclear waste. The concept 'risk' has different importance for experts and general public, within different research directions and among stakeholders in the nuclear waste issue. The report has been published in order to give an interdisciplinary scientific perspective on the risk concept. The authors have their background in different disciplines: radiation physics, psychology, media- and communications-science. The report treats four different themes: The first theme concerns perspectives on the risk concept and describes various principles for how risks can be handled in the society. The next theme is about comparing various risks. This section shows that risk comparisons can to be done within the framework of a scientific attitude and during certain given conditions. The third theme elucidates results from research about subjective risk, and shows that a large number of factors influence how risks are considered by individuals, and can influence his risk behavior and also how the individual means that the society will make decisions in risk-related questions. The fourth and last theme is about risk communication. Since the risk concept contains many different aspects it is clear that risk should not only be informed about, but also communicated. If a purely mathematical definition of risk was the only valid form, such information, from experts to the citizens, would possibly be sufficient. But since there are other relevant factors to take into consideration (t.ex the individual's own values), a communicative process must take place, i.e. the citizens should have influence on how risks are compared and managed. In the final theme, the authors have chosen to reflect around the themes above, i.e. different perspectives on the risk concept, risk comparisons, subjective risk view and risk communication are discussed.

First Nations people's challenge in managing coronary artery disease risk.

Science.gov (United States)

King, Kathryn M; Sanguins, Julianne; McGregor, Lisa; LeBlanc, Pamela

2007-10-01

First Nations peoples bring a particular history and cultural perspective to healing and well-being that significantly influences their health behaviors. The authors used grounded theory methods to describe and explain how ethnocultural affiliation and gender influence the process that 22 First Nations people underwent when making lifestyle changes related to their coronary artery disease (CAD) risk. The transcribed interviews revealed a core variable, meeting the challenge. Meeting the challenge of CAD risk management was influenced by intrapersonal, interpersonal (relationships with others), extrapersonal (i.e., the community and government), sociodemographic, and gendered factors. Salient elements for the participants included their beliefs about origins of illness, the role of family, challenges to accessing information, financial and resource management, and the gendered element of body image. Health care providers need to understand the historical, social, and culturally embedded factors that influence First Nations people's appraisal of their CAD.

GLObal RIsk MANagement system for plant operations GLORIMAN

International Nuclear Information System (INIS)

Silverman, Eugene B.

2004-01-01

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

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

Directory of Open Access Journals (Sweden)

Kyungmo Park

2017-02-01

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

Information Risk Management and Resilience

Science.gov (United States)

Dynes, Scott

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

Continuous Risk Management at NASA

Science.gov (United States)

Hammer, Theodore F.; Rosenberg, Linda

1999-01-01

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

Fuel cells and electricity companies - new risk management opportunities

International Nuclear Information System (INIS)

Whale, M.

2004-01-01

'Full text:' Deregulation, distributed generation, combined heat and power, renewables, fuel cells, hydrogen. Power companies are facing a rapidly evolving environment that is testing their ability to effectively deploy capital and earn profits. While recent deregulation trends have shifted the structure of power markets into separating generators from distributors, the improving economic value proposition offered by smaller scale distributed generation technologies - such as fuel cells - would seem to be a conflicting development. In this complex and changing environment, decisions based on the economic reality of the capital markets are likely to prevail. By examining the opportunity to enhance risk management offered by stationary fuel cells, particularly in CHP applications, we provide a context for the issues being discussed in today's sessions focusing on power companies and electric utilities. Our risk management perspective suggests a pathway for implementing fuel cells in combined heat and power applications that large power generators can introduce in increasingly smaller sizes. With capital costs of fuel cells high and risk tolerance of power companies low, the challenge for smaller technology developers will be to reduce the apparently long time horizon that persists for substantial deployment. (author)

Probability concepts in quality risk management.

Science.gov (United States)

Claycamp, H Gregg

2012-01-01

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

IMPLEMENTING A RISK MANAGEMENT STANDARD

Directory of Open Access Journals (Sweden)

Constantin PREDA

2013-01-01

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

Energy efficiency from business management perspective; Prosessi-integraatin energiatehokkuuden liikejohtaminen - PI-ENERGIALIITO

Energy Technology Data Exchange (ETDEWEB)

Ahtila, P.; Tuomaala, M. (Helsinki Univ. of Technology, Center for Energy Technology, Espoo (Finland)); Malmi, T.; Virtanen, T. (Helsinki School of Economics, Helsinki (Finland))

2008-07-01

The purpose of the research is to enhance the ways to manage energy efficiency as part of business management. The work includes a study of the differences between technical energy efficiency metrics and a company's business management metrics. The work also includes a study of the differences between energy efficiency management at a unit process scale and energy efficiency management at a total site scale. In addition, the ways to evaluate energy efficiency investments are studied. The research tries to propose ways to support existing practices in order to promote energy efficiency investment activity. The research is supported by case studies where a change in process energy efficiency is carried out. The case studies are evaluated from two perspectives: from engineering perspective and from business management perspective. (orig.)

Addressing the supply security of the nuclear fuel cycle: a US merchant generator risk acceptance perspective

International Nuclear Information System (INIS)

Jordan, R. P.; Benavides, P.A.

2006-01-01

With the current rising markets across the nuclear fuel supply spectrum, understanding and managing nuclear fuel cycle supply security risk becomes an increasingly important consideration. In addressing this area, Constellation Energy is implementing an integrated multifaceted approach as consistent with a comprehensive risk profile covering the nuclear fuel supply industry. This approach is founded on use of a utility traditional procurement strategy, as dependent on the qualitative parameters of supply origination diversification, geopolitical stability, contracting duration and individual supplier financial bases. However, Constellation also adds an additional consideration into development of this nuclear fuel supply risk profile. To do such, qualitative assessments covering specific supplier risks, as based on the parameters of supplier management and organizational structure, design capacities (applicable to fabrication and enrichment only), operational history as applicable to forward-looking performance, regulatory or legal history and financial performance are also considered. Constellation overlays the risks of future availabilities, catastrophic occurrences and prices for each nuclear fuel material and service component onto a quantitative set of results. The overall focus of these assessments is the creation of a risk management perspective directed towards determining the potential loss or delay of nuclear fuel supply for our operating reactors. The conclusion of this effort is an integrated assessment of the nuclear fuel supply security as applicable to the Constellation-specific structured risk profile. Use of this assessment allows Constellation to target appropriate suppliers of interest in the marketplace and form the fundamental bases for the Constellation procurement strategy while managing risks associated with nuclear fuel cycle supply security. (authors)

The Dutch dominant perspective on water; risks and opportunities involved

NARCIS (Netherlands)

Offermans, A.; Valkering, P.; Vreugdenhil, H.S.I.; Wijermans, F.E.H.; Haasnoot, M.

2013-01-01

To implement or continue water management strategies social support is needed. Social support highly depends on people’s perspectives on water. However, these perspectives are not static and may change over time leading to changes in social support for strategies. Therefore, sustainable water

Risk management through dynamic technical specifications

International Nuclear Information System (INIS)

Klopp, George T.; Petersen, Thomas A.

2004-01-01

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

Managing Technological Dynamics. A Transdisciplinary Perspective

DEFF Research Database (Denmark)

Drejer, Anders; Ulhøi, John Parm

1998-01-01

The authors of this paper represent different traditions and approaches to Management of Technology (MoT) and to Technology Studies (TS) at firm level. This offers an opportunity to develop a transdisciplinary perspective. MoT and TS, it is argued, can be addressed from rationalistic planning...

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

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.

Risk and/or resilience management

Directory of Open Access Journals (Sweden)

Jean-Paul Louisot

2015-06-01

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

Radioactive Waste in Perspective

International Nuclear Information System (INIS)

2011-01-01

Large volumes of hazardous wastes are produced each year, however only a small proportion of them are radioactive. While disposal options for hazardous wastes are generally well established, some types of hazardous waste face issues similar to those for radioactive waste and also require long-term disposal arrangements. The objective of this NEA study is to put the management of radioactive waste into perspective, firstly by contrasting features of radioactive and hazardous wastes, together with their management policies and strategies, and secondly by examining the specific case of the wastes resulting from carbon capture and storage of fossil fuels. The study seeks to give policy makers and interested stakeholders a broad overview of the similarities and differences between radioactive and hazardous wastes and their management strategies. Contents: - Foreword; - Key Points for Policy Makers; - Executive Summary; - Introduction; - Theme 1 - Radioactive and Hazardous Wastes in Perspective; - Theme 2 - The Outlook for Wastes Arising from Coal and from Nuclear Power Generation; - Risk, Perceived Risk and Public Attitudes; - Concluding Discussion and Lessons Learnt; - Strategic Issues for Radioactive Waste; - Strategic Issues for Hazardous Waste; - Case Studies - The Management of Coal Ash, CO 2 and Mercury as Wastes; - Risk and Perceived Risk; - List of Participants; - List of Abbreviations. (authors)

Work-home Balance: a Management Perspective

OpenAIRE

Farrell, Kathleen

2012-01-01

Work-home balance issues have become a very important challenge for both management and employees in the 21st century. The purpose of this paper is to examine work-home balance practices from a management perspective in the Irish hotel industry. There is a dearth of research in relation to work-home balance practices in the hotel sector. The study included a sample of all hotels including Northern Ireland. It found that the needs of the organisation are paramount with profitability considerat...

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...

State-of-the-art risk-based approach to spill contingency planning and risk management

International Nuclear Information System (INIS)

Schmidt Etkin, Dagmar; Reilly, Timothy; French McCay, Deborah

2011-01-01

The paper proposes incorporating a comprehensive examination of spill risk into risk management and contingency planning, and applying state-of-the-art modeling tools to evaluate various alternatives for appropriate spill response measures and optimize protective responses. The approach allows spill contingency planners and decision-makers to determine the types of spill scenarios that may occur in a particular location or from a particular source and calculate the probability distribution of the various scenarios. The spill probability information is useful in assessing and putting into perspective the various costs options for spill control systems that will be recommended ultimately. Using advanced modeling tools helps in estimating the potential environmental and socioeconomic consequences of each spill scenario based on location-specific factors over a range of stochastic possibilities, simulating spill scenarios and determining optimal responses and protection strategies. The benefits and costs of various response alternatives and variations in response time can be calculated and modeling tools for training and risk allocation/transfer purposes used.

NEW PERSPECTIVES ON STRATEGIC MANAGEMENT PROCESS

Directory of Open Access Journals (Sweden)

POP Zenovia Cristiana

2013-07-01

Full Text Available For developing economies the development of enterprises should be a strategic goal, this way of thinking may become viable only as a result of a combination of judicious analysis based on specific local economic aspects and a set of actions to correct any slippage or amplify existing development trends taken by the managers. A better leadership would unequivocally lead to a better strategy but sometimes the lack of information, first about the external environment, continuously undergoing quick and radical changes, the political problems and the complexity of the implementation of the strategy or the costs that it implies are not taken into consideration. Therefore managers have two options: to establish strategies, which would lead to the achievement of the objectives; evaluate them on the basis of economic efficiency or to identify an already existent strategy and to adapt it to the environment changes in which the enterprise carries on its activity. This paper aims at discussing and explaining from a theoretical perspective, the evolution and the advantages and disadvantages of the strategic management process, in order to convey the managers a modality to achieve competitiveness and evaluate the position of the firm. In the first section, we explain the the necessity of strategic management process. In the second section we present the different evolution stages. The third section presents our conclusions regarding the advantages and disadvantages of the strategic management process, fundamental for the strategy success. The financial crisis did affect the Romanian economy and Romanian enterprises early in 2009 registering an impact of the crisis identified in the need of the managers to rethink their strategies, to improve their management skills and perspectives on the role of the employees after the crisis. In this paper we try to underline the evolution stages of the strategic management process with its own characteristics by which both

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.

Pricing risk and ambiguity: the effect of perspective taking.

Science.gov (United States)

Trautmann, Stefan T; Schmidt, Ulrich

2012-01-01

In the valuation of uncertain prospects, a difference is often observed between selling and buying perspectives. This paper distinguishes between risk (known probabilities) and ambiguity (unknown probabilities) in decisions under uncertainty and shows that the valuation disparity increases under ambiguity compared to risk. It is found that both the comparative versus noncomparative evaluation of risky and ambiguous prospects and the uniqueness of the valuation perspective (either seller or buyer) moderate this increase in the disparity under ambiguity. The finding is consistent with recent theoretical accounts of pricing under uncertainty. We discuss implications for market behaviour and for the ambiguity paradigm as a research tool.

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

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 .

Innovations in Quantitative Risk Management

CERN Document Server

Scherer, Matthias; Zagst, Rudi

2015-01-01

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

Risk assessment and risk management in managed aquifer recharge

CSIR Research Space (South Africa)

Page, D

2012-06-01

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

Value of risk management

OpenAIRE

Vik, Marie Amdal

2012-01-01

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

Supply Cain Risk Management

OpenAIRE

Goodwin, Les

2011-01-01

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

Credit risk management in banks

OpenAIRE

Pětníková, Tereza

2014-01-01

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

Management of business risks

OpenAIRE

BAZARBAY A.

2015-01-01

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

The Uncertainties of Risk Management

DEFF Research Database (Denmark)

Vinnari, Eija; Skærbæk, Peter

2014-01-01

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

Health risks in perspective: Judging health risks of energy technologies

Energy Technology Data Exchange (ETDEWEB)

Rowe, M.D.

1992-09-18

Almost daily, Americans receive reports from the mass news media about some new and frightening risk to health and welfare. Most such reports emphasize the newsworthiness of the risks -- the possibility of a crisis, disagreements among experts, how things happened, who is responsible for fixing them, how much will it cost, conflict among parties involved, etc. As a rule, the magnitudes of the risks, or the difficulty of estimating those magnitudes, have limited newsworthiness, and so they are not mentioned. Because of this emphasis in the news media, most people outside the risk assessment community must judge the relative significance of the various risks to which we all are exposed with only that information deemed newsworthy by reporters. This information is biased and shows risks in isolation. There is no basis for understanding and comparing the relative importance of risks among themselves, or for comparing one risk, perhaps a new or newly-discovered one, in the field of all risks. The purpose of this report is to provide perspective on the various risks to which we are routinely exposed. It serves as a basis for understanding the meaning of quantitative risk estimates and for comparing new or newly-discovered risks with other, better-understood risks. Specific emphasis is placed on health risks of energy technologies.

Risk management and corporate value

Directory of Open Access Journals (Sweden)

Milan Cupic

2015-12-01

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

CEA: risk management assessment 2011

International Nuclear Information System (INIS)

Bigot, Bernard; Bonnevie, Edwige; Maillot, Bernard

2012-01-01

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

CEA: assessment of risk management 2011

International Nuclear Information System (INIS)

2012-06-01

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

Risk management at university

OpenAIRE

Ivanova, H.; Abramovich, S.

2013-01-01

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

Managerial Risk Accounting and Control – A German perspective

OpenAIRE

Winter, Peter

2007-01-01

Recent developments have sparked a renewed interest concerning risk related topics in nonfinancial companies. Risk management issues directly touch the domain of management accounting and control. In Germany, topics related to the support of corporate or enterprise risk management are commonly discussed under the label of “Risikocontrolling”, which will be translated as Managerial Risk Accounting and Control. However, the conceptual foundation of a risk oriented management accounting respecti...

Role of NDT in risk management

International Nuclear Information System (INIS)

Porter, Jr. James F.

2009-01-01

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

Cattle farmers’ perceptions of risk and risk management strategies

DEFF Research Database (Denmark)

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

2018-01-01

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

Nanotechnologies risk assessment: a perspective from developing countries

CSIR Research Space (South Africa)

Musee, N

2009-09-01

Full Text Available chemicals in these states: the unique challenges of nanotechnologies from a waste perspective are modeled to develop scenarios of likely impacts to the developing countries. Both qualitative and quantitative risk assessment approaches were developed...

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.

STUDENTS’ PERSPECTIVE ON ETHICS MANAGEMENT OF HIGHER EDUCATION SYSTEM OF ROMANIA

Directory of Open Access Journals (Sweden)

Silvia PUIU

2014-10-01

Full Text Available The article presents the critical perspectives of students from higher education system of Romania on the ethics and ethics management of institutions where they study. Their point of view reflects also their experience but also the image of universities in the common perception. The methodology used a questionnaire on a number of 113 students from more than ten cities and more institutions, from private and public system also. This study was conducted in parallel with another research made on managers’ perspective in order to bring equilibrium and a more realistic image of the ethics management in Romania’s universities. Results reflect the lacks in this system and the poor image in education sector and create numerous opportunities for an improvement by implementing the tools of ethics management. There is an important gap between the two perspectives, both subjective of course, but this reality addresses a lot of questions to debate on, for a considerable change in the way managers use ethics management as a powerful tool to increase their competitiveness on education market.

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

Modeling and Managing the Risks of Measles and Rubella: A Global Perspective, Part I.

Science.gov (United States)

Thompson, Kimberly M; Cochi, Stephen L

2016-07-01

Over the past 50 years, the use of vaccines led to significant decreases in the global burdens of measles and rubella, motivated at least in part by the successive development of global control and elimination targets. The Global Vaccine Action Plan (GVAP) includes specific targets for regional elimination of measles and rubella in five of six regions of the World Health Organization by 2020. Achieving the GVAP measles and rubella goals will require significant immunization efforts and associated financial investments and political commitments. Planning and budgeting for these efforts can benefit from learning some important lessons from the Global Polio Eradication Initiative (GPEI). Following an overview of the global context of measles and rubella risks and discussion of lessons learned from the GPEI, we introduce the contents of the special issue on modeling and managing the risks of measles and rubella. This introduction describes the synthesis of the literature available to support evidence-based model inputs to support the development of an integrated economic and dynamic disease transmission model to support global efforts to optimally manage these diseases globally using vaccines. © 2016 Society for Risk Analysis.

The NASA risk management program

International Nuclear Information System (INIS)

Buchbinder, B.; Philipson, L.L.

1989-01-01

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

Risk Management in Mergers and Acquisitions

Directory of Open Access Journals (Sweden)

Dmitry O. Verdiev

2015-01-01

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

Risk Management in Cocurricular Activities.

Science.gov (United States)

Webb, Edward M.

1988-01-01

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

RISK MANAGEMENT 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.

Managed aquifer recharge using quaternary-treated wastewater: an economic perspective

KAUST Repository

Zekri, Slim Mohamed

2013-10-11

An excess of 31 million m3/y of tertiary-treated wastewater is expected in Muscat, Oman, by 2015. This paper addresses the technical and cost estimation of managed aquifer recharge after reverse-osmosis treatment. The results indicate that the project is appealing from an economic perspective. The total cost varies between USD 0.353 and USD 0.550 per cubic metre, depending on the cost of electricity, the interest rate and the life span of the project. The project may face rejection from domestic users, who may be unwilling to accept mixing treated wastewater with the current water supply due to health risks. An alternative to indirect potable reuse is the installation of a separate network to service industrial users. © 2013 Taylor & Francis.

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.

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.

[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.

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.

An Integrated Web-based Decision Support System in Disaster Risk Management

Science.gov (United States)

Aye, Z. C.; Jaboyedoff, M.; Derron, M. H.

2012-04-01

Nowadays, web based decision support systems (DSS) play an essential role in disaster risk management because of their supporting abilities which help the decision makers to improve their performances and make better decisions without needing to solve complex problems while reducing human resources and time. Since the decision making process is one of the main factors which highly influence the damages and losses of society, it is extremely important to make right decisions at right time by combining available risk information with advanced web technology of Geographic Information System (GIS) and Decision Support System (DSS). This paper presents an integrated web-based decision support system (DSS) of how to use risk information in risk management efficiently and effectively while highlighting the importance of a decision support system in the field of risk reduction. Beyond the conventional systems, it provides the users to define their own strategies starting from risk identification to the risk reduction, which leads to an integrated approach in risk management. In addition, it also considers the complexity of changing environment from different perspectives and sectors with diverse stakeholders' involvement in the development process. The aim of this platform is to contribute a part towards the natural hazards and geosciences society by developing an open-source web platform where the users can analyze risk profiles and make decisions by performing cost benefit analysis, Environmental Impact Assessment (EIA) and Strategic Environmental Assessment (SEA) with the support of others tools and resources provided. There are different access rights to the system depending on the user profiles and their responsibilities. The system is still under development and the current version provides maps viewing, basic GIS functionality, assessment of important infrastructures (e.g. bridge, hospital, etc.) affected by landslides and visualization of the impact

The History of New Perspectives and Ecosystem Management

Science.gov (United States)

F. Dale Robertson

2004-01-01

Abstract - Arkansas occupies a unique and important place in the history of New Perspectives and Ecosystem Management. An historic visit to the Ouachita National Forest by Senator David Pryor (D-Arkansas) in August 1990, thereafter called the walk in the woods, served as an opportunity to shift the Ouachita’s style of management in a manner that has...

Evolution of natural risk: research framework and perspectives

Science.gov (United States)

Hufschmidt, G.; Crozier, M.; Glade, T.

2005-05-01

This study presents a conceptual framework for addressing temporal variation in natural risk. Numerous former natural risk analyses and investigations have demonstrated that time and related changes have a crucial influence on risk. For natural hazards, time becomes a factor for a number of reasons. Using the example of landslides to illustrate this point, it is shown that: 1. landslide history is important in determining probability of occurrence, 2. the significance of catchment variables in explaining landslide susceptibility is dependent on the time scale chosen, 3. the observer's perception of the geosystem's state changes with different time spans, and 4. the system's sensitivity varies with time. Natural hazards are not isolated events but complex features that are connected with the social system. Similarly, elements at risk and their vulnerability are highly dynamic through time, an aspect that is not sufficiently acknowledged in research. Since natural risk is an amalgam of hazard and vulnerability, its temporal behaviour has to be considered as well. Identifying these changes and their underlying processes contributes to a better understanding of natural risk today and in the future. However, no dynamic models for natural risks are currently available. Dynamic behaviour of factors affecting risk is likely to create increasing connectivity and complexity. This demands a broad approach to natural risk, since the concept of risk encapsulates aspects of many disciplines and has suffered from single-discipline approaches in the past. In New Zealand, dramatic environmental and social change has occurred in a relatively short period of time, graphically demonstrating the temporal variability of the geosystem and the social system. To understand these changes and subsequent interactions between both systems, a holistic perspective is needed. This contribution reviews available frameworks, demonstrates the need for further concepts, and gives research

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...

Primary care physician management, referral, and relations with specialists concerning patients at risk for cancer due to family history.

Science.gov (United States)

Wood, M E; Flynn, B S; Stockdale, A

2013-01-01

Risk stratification based on family history is a feature of screening guidelines for a number of cancers and referral guidelines for genetic counseling/testing for cancer risk. Our aim was to describe primary care physician perceptions of their role in managing cancer risk based on family history. Structured interviews were conducted by a medical anthropologist with primary care physicians in 3 settings in 2 north-eastern states. Transcripts were systematically analyzed by a research team to identify major themes expressed by participants. Forty interviews were conducted from May 2003 through May 2006. Physicians provided a diversity of views on roles in management of cancer risk based on family history, management practices and patient responses to risk information. They also provided a wide range of perspectives on criteria used for referral to specialists, types of specialists referred to and expected management roles for referred patients. Some primary care physicians appeared to make effective use of family history information for cancer risk management, but many in this sample did not. Increased focus on efficient assessment tools based on recognized guidelines, accessible guides to management options, and patient education and decision aids may be useful directions to facilitate broader use of family history information for cancer risk management. Copyright © 2013 S. Karger AG, Basel.

On "black swans" and "perfect storms": risk analysis and management when statistics are not enough.

Science.gov (United States)

Paté-Cornell, Elisabeth

2012-11-01

Two images, "black swans" and "perfect storms," have struck the public's imagination and are used--at times indiscriminately--to describe the unthinkable or the extremely unlikely. These metaphors have been used as excuses to wait for an accident to happen before taking risk management measures, both in industry and government. These two images represent two distinct types of uncertainties (epistemic and aleatory). Existing statistics are often insufficient to support risk management because the sample may be too small and the system may have changed. Rationality as defined by the von Neumann axioms leads to a combination of both types of uncertainties into a single probability measure--Bayesian probability--and accounts only for risk aversion. Yet, the decisionmaker may also want to be ambiguity averse. This article presents an engineering risk analysis perspective on the problem, using all available information in support of proactive risk management decisions and considering both types of uncertainty. These measures involve monitoring of signals, precursors, and near-misses, as well as reinforcement of the system and a thoughtful response strategy. It also involves careful examination of organizational factors such as the incentive system, which shape human performance and affect the risk of errors. In all cases, including rare events, risk quantification does not allow "prediction" of accidents and catastrophes. Instead, it is meant to support effective risk management rather than simply reacting to the latest events and headlines. © 2012 Society for Risk Analysis.

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...

Perspectives on risk and the unforeseen

International Nuclear Information System (INIS)

Haugen, Stein; Vinnem, Jan Erik

2015-01-01

Black swans have been discussed lately. Some recent contributions to the understanding of black swans have been provided by Aven [1] and Aven and Krohn [3]. It is important to be aware of events which may come as complete surprise, which creates uncertainty in the risk assessment. This is consistent with the proposed revision of the definition of risk by Petroleum Safety Authority (PSA) [Norway]. But we should at the same time also try to look beyond this and see how we can use this concept to avoid serious accidents or at least reduce the consequences should accidents occur. In this paper we proposed to restrict the black swan concept to unknown unknowns. Cases illustrate how the wider definition may lead to misleading and unfortunate effects that will not lead to good risk management practices. The wider definitions proposed by Aven & Krohn are proposed to be counterproductive if seen in a risk management context. - Highlights: • Black swans in a risk management context should be reserved for “unknown unknowns”. • Definitions by Aven and Krohn to include risks beyond “unknown unknowns” is unfortunate. • Cases illustrate how definition by Aven and Krohn may give misleading & unfortunate effects • Oil companies have for a long time neglected the uncertainty aspect of the risk element. • Proposed revision of the regulations by PSA is appropriate

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

Perspectives of Forest Management Planning: Slovenian and Croatian Experience

OpenAIRE

Bončina, Andrej; Čavlović, Juro

2009-01-01

Drawing upon the historical framework of origin and development, and a long tradition in forest management planning in Slovenia and Croatia, and based on a survey of literature and research to date, this paper addresses problems and perspectives of forest management planning. Comparison is made of forest management planning concepts, which generally differ from country to country in terms of natural, social and economic circumstances. Impacts of forest management planning on the condition and...

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

International Nuclear Information System (INIS)

Anon.

1996-01-01

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

Adolescent drivers: a developmental perspective on risk, proficiency, and safety.

Science.gov (United States)

Keating, Daniel P; Halpern-Felsher, Bonnie L

2008-09-01

Despite considerable improvement in the rates of crashes, injuries, and fatalities among adolescent drivers, attributable in part to effective interventions such as graduated driver licensing, these rates and their associated health risks remain unacceptably high. To understand the sources of risky driving among teens, as well as to identify potential avenues for further advances in prevention, this article presents a review of the relevant features of contemporary research on adolescent development. Current research offers significant advances in the understanding of the sources of safe driving, proficient driving, and risky driving among adolescents. This multifaceted perspective--as opposed to simple categorization of good versus bad driving--provides new opportunities for using insights on adolescent development to enhance prevention. Drawing on recent work on adolescent physical, neural, and cognitive development, we argue for approaches to prevention that recognize both the strengths and the limitations of adolescent drivers, with particular attention to the acquisition of expertise, regulatory competence, and self-regulation in the context of perceived risk. This understanding of adolescent development spotlights the provision of appropriate and effective scaffolding, utilizing the contexts of importance to adolescents--parents, peers, and the broader culture of driving--to support safe driving and to manage the inherent risks in learning to do so.

Managing information technology security risk

Science.gov (United States)

Gilliam, David

2003-01-01

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

The Supply Chain Risk Management

OpenAIRE

Skitsko Volodymyr I.; Voynikov Mykola Yu.

2018-01-01

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

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

Cooperation for Interference Management: A GDoF Perspective

KAUST Repository

Gherekhloo, Soheil; Chaaban, Anas; Sezgin, Aydin

2016-01-01

The impact of cooperation on interference management is investigated by studying an elemental wireless network, the so-called symmetric interference relay channel (IRC), from a generalized degrees of freedom (GDoF) perspective. This is motivated

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”.

Risk Management Capability Maturity and Performance of Complex Product and System (CoPS Projects with an Asian Perspective

Directory of Open Access Journals (Sweden)

Ren, Y.

2014-07-01

Full Text Available Complex Products and Systems (CoPS are high value, technology and engineering-intensive capital goods. The motivation of this study is the persistent high failure rate of CoPS projects, Asian CoPS provider’s weak capability and lack of specific research on CoPS risk management. This paper evaluates risk management maturity level of CoPS projects against a general CoPS risk management capability maturity model (RM-CMM developed by the authors. An Asian based survey was conducted to investigate the value of RM to project performance, and Asian (non-Japanese CoPS implementers’ perceived application of RM practices, their strengths and weaknesses. The survey result shows that higher RM maturity level leads to higher CoPS project performance. It also shows project complexity and uncertainty moderates the relationship between some RM practices and project performance, which implies that a contingency approach should be adopted to manage CoPS risks effectively. In addition, it shows that Asian CoPS implementers are weak in RM process and there are also rooms for improvement in the softer aspects of organizational capabilities and robustness.

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

Managing hyperthyroidism in pregnancy: current perspectives

Directory of Open Access Journals (Sweden)

Andersen SL

2016-09-01

Full Text Available Stine Linding Andersen,1,2 Peter Laurberg1,3,† 1Department of Endocrinology, Aalborg University Hospital, 2Department of Clinical Biochemistry, Aalborg University Hospital, 3Department of Clinical Medicine, Aalborg University, Aalborg, Denmark †Peter Laurberg passed away on June 20, 2016 Abstract: Hyperthyroidism in women who are of childbearing age is predominantly of autoimmune origin and caused by Graves’ disease. The physiological changes in the maternal immune system during a pregnancy may influence the development of this and other autoimmune diseases. Furthermore, pregnancy-associated physiological changes influence the synthesis and metabolism of thyroid hormones and challenge the interpretation of thyroid function tests in pregnancy. Thyroid hormones are crucial regulators of early development and play an important role in the maintenance of a normal pregnancy and in the development of the fetus, particularly the fetal brain. Untreated or inadequately treated hyperthyroidism is associated with pregnancy complications and may even program the fetus to long-term development of disease. Thus, hyperthyroidism in pregnant women should be carefully managed and controlled, and proper management involves different medical specialties. The treatment of choice in pregnancy is antithyroid drugs (ATDs. These drugs are effective in the control of maternal hyperthyroidism, but they all cross the placenta, and so need careful management and control during the second half of pregnancy considering the risk of fetal hyper- or hypothyroidism. An important aspect in the early pregnancy is that the predominant side effect to the use of ATDs in weeks 6–10 of pregnancy is birth defects that may develop after exposure to available types of ATDs and may be severe. This review focuses on four current perspectives in the management of overt hyperthyroidism in pregnancy, including the etiology and incidence of the disease, how the diagnosis is made, the

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.

Branding and the Risk Management Imperative

OpenAIRE

Fournier Susan; Srinivasan Shuba

2018-01-01

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

42 CFR 441.476 - Risk management.

Science.gov (United States)

2010-10-01

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

Awareness and Perceptions of Food Safety Risks and Risk Management in Poultry Production and Slaughter: A Qualitative Study of Direct-Market Poultry Producers in Maryland.

Science.gov (United States)

Baron, Patrick; Frattaroli, Shannon

2016-01-01

The objective of this study was to document and understand the perceptions and opinions of small-scale poultry producers who market directly to consumers about microbial food safety risks in the poultry supply chain. Between January and November 2014, we conducted semi-structured, in-depth interviews with a convenience sample of 16 owner-operators of Maryland direct-market commercial poultry farms. Three overarching thematic categories emerged from these interviews that describe: 1) characteristics of Maryland direct-market poultry production and processing; 2) microbial food safety risk awareness and risk management in small-scale poultry production, slaughter and processing; and 3) motivations for prioritizing food safety in the statewide direct-market poultry supply chain. Key informants provided valuable insights on many topics relevant to evaluating microbial food safety in the Maryland direct-market poultry supply chain, including: direct-market poultry production and processing practices and models, perspectives on issues related to food safety risk management, perspectives on direct-market agriculture economics and marketing strategies, and ideas for how to enhance food safety at the direct-market level of the Maryland poultry supply chain. The findings have policy implications and provide insights into food safety in small-scale commercial poultry production, processing, distribution and retail. In addition, the findings will inform future food safety research on the small-scale US poultry supply chain.

Awareness and Perceptions of Food Safety Risks and Risk Management in Poultry Production and Slaughter: A Qualitative Study of Direct-Market Poultry Producers in Maryland

Science.gov (United States)

Baron, Patrick; Frattaroli, Shannon

2016-01-01

The objective of this study was to document and understand the perceptions and opinions of small-scale poultry producers who market directly to consumers about microbial food safety risks in the poultry supply chain. Between January and November 2014, we conducted semi-structured, in-depth interviews with a convenience sample of 16 owner-operators of Maryland direct-market commercial poultry farms. Three overarching thematic categories emerged from these interviews that describe: 1) characteristics of Maryland direct-market poultry production and processing; 2) microbial food safety risk awareness and risk management in small-scale poultry production, slaughter and processing; and 3) motivations for prioritizing food safety in the statewide direct-market poultry supply chain. Key informants provided valuable insights on many topics relevant to evaluating microbial food safety in the Maryland direct-market poultry supply chain, including: direct-market poultry production and processing practices and models, perspectives on issues related to food safety risk management, perspectives on direct-market agriculture economics and marketing strategies, and ideas for how to enhance food safety at the direct-market level of the Maryland poultry supply chain. The findings have policy implications and provide insights into food safety in small-scale commercial poultry production, processing, distribution and retail. In addition, the findings will inform future food safety research on the small-scale US poultry supply chain. PMID:27341034

Awareness and Perceptions of Food Safety Risks and Risk Management in Poultry Production and Slaughter: A Qualitative Study of Direct-Market Poultry Producers in Maryland.

Directory of Open Access Journals (Sweden)

Patrick Baron

Full Text Available The objective of this study was to document and understand the perceptions and opinions of small-scale poultry producers who market directly to consumers about microbial food safety risks in the poultry supply chain. Between January and November 2014, we conducted semi-structured, in-depth interviews with a convenience sample of 16 owner-operators of Maryland direct-market commercial poultry farms. Three overarching thematic categories emerged from these interviews that describe: 1 characteristics of Maryland direct-market poultry production and processing; 2 microbial food safety risk awareness and risk management in small-scale poultry production, slaughter and processing; and 3 motivations for prioritizing food safety in the statewide direct-market poultry supply chain. Key informants provided valuable insights on many topics relevant to evaluating microbial food safety in the Maryland direct-market poultry supply chain, including: direct-market poultry production and processing practices and models, perspectives on issues related to food safety risk management, perspectives on direct-market agriculture economics and marketing strategies, and ideas for how to enhance food safety at the direct-market level of the Maryland poultry supply chain. The findings have policy implications and provide insights into food safety in small-scale commercial poultry production, processing, distribution and retail. In addition, the findings will inform future food safety research on the small-scale US poultry supply chain.

Risks of energy generation in perspective

International Nuclear Information System (INIS)

Cohen, B.L.

Life expectancy reduction (LER) figures due to various risks are given. The example, air pollution from coal burning gives an LER of 12 days, and nuclear power, by government estimates, gives an LER of 0.04 days. The 25-day LER from all our use of energy is placed in perspective by comparing equivalent risks from everday hazards. The logical assumsption that reducing energy consumption reduces the LER figure is shown to be false because lower energy consumption lowers per capita income, which in turn greatly reduces life expectancy of the population. Energy shortage also ultimately leads to greater unemployment which increases the rate of suicide and murder and so, again, decreases life expectancy. (J.T.A.)

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.

Mediterranean Storms: An Integrated Approach of Risk Management

Science.gov (United States)

Karageorgou, H.; Riza, E.; Linos, A.; Papanikolaou, D.

2010-09-01

Disaster by UN definition is "a serious disruption of the functioning of a community or a society, involving widespread human, material, economic, or environmental losses and impacts, which exceeds the ability of the affected community or society to cope using only its own resources". Mediterranean storms induce flash floods caused by excessive amounts of rainfall within a short lasting period of time. The intensity and duration of precipitation, region geomorphology, urbanization and different governmental emergency management structures trigger different consequences between Mediterranean countries. The integrated approach in management of storm risk represents a holistic perspective including interactions between government, science and technology institutions, developing agencies, private sector, NGOs and public. Local authorities and national government are responsible for the design, preparation and decision on storm risk management policies and strategies considering scientific risk identifying, assessing and understanding. Efficient governance management requires satisfied response to early warning systems, functionality of the affected systems upon which society depends and appropriate focus on variable interest, beliefs, values and ideologies between social groups. Also an appropriate balancing of benefits and costs in an efficient and equitable manner is important for the governance risk management. Natural sciences in corporation with the engineering science have developed effective early prediction, warning and monitoring systems on storm and flood risk. The health sciences use prediction systems for health related hazards and consequences and the social sciences research estimates the human resilience during disasters and the factors which affect and determine the human behavior. Also social sciences survey the response of public to early warning messages, the appropriate communicative methods to distributing messages and mechanisms to improve public

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

MANAGEMENT OF SECURITY FOR BANK LOANS ON THE BASIS OF RISK MANAGEMENT

Directory of Open Access Journals (Sweden)

Viktoriia Kovalenko

2016-03-01

Full Text Available The article aims to study methods and tools for risk management to ensure bank loans.  Proved that the effectiveness of risk management to ensure bank loans depends on consistency,  adequacy methods of evaluation, quality monitoring and timely response system of the banks and the  regulator. The article is to develop recommendations to improve the effectiveness of risk management providing bank loans considering the risks inherent in the process support mortgage portfolio of banks in the  face of considerable uncertainty functioning banks. It is proved that the risk provision of bank loans in the loan management should be considered  through risk characteristics that form the aggregate credit risk. Substantiated that risk management software meets the classic risk management, which identifies  four main stages: identification; risk assessment software; control risk; minimizing risk. Keywords: credit risk provision, loan, risk management, reserves.JEL: G 28

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.

Communicating health risks to the public: a global perspective

National Research Council Canada - National Science Library

Hillier, Dawn

2006-01-01

... under the Copyright, Designs and Patents Act, 1988, to be identified as the author of this work. British Library Cataloguing in Publication Data Communicating health risks to the public : a global perspective 1. Health risk communication I. Hillier, Dawn, 1950- 614.4'4 ISBN-13: 978-0-566-08672-4 ISBN-10: 0 566 08672 7 Library of Congress Cataloging-in-Publ...

内部控制：廉政风险防控的新视角和有效抓手%Internal Control：A New Perspective and Effective Working Point on Risk Prevention and Control of an Incorrupt Government

Institute of Scientific and Technical Information of China (English)

李慧; 张海兰

2016-01-01

Ab stract: The current situation and characteristics of corruption demand new means for the management and prevention of risks in clean governance for a transformation from“not daring to corrupt”to“not possible to corrupt,”and a strengthened sys-tem for risk-prevention to facilitate information disclosure. An analysis the advantages and disadvantages of the risk manage-ment perspective, quality management perspective, and a perspective for the prevention of interest-conflicts in combination with the connotations and characteristics of internal management yields the discovery: there is an internal consistency between internal management and risk-prevention in anti-corruption. There can be found some theoretical and practical values for risk-prevention in anti-corruption from the perspective of internal management, which proves to be a new perspective and ef-fective working point.%当前腐败的形式和特点对现阶段廉政风险防控提出了新要求：从“不敢腐”向“不能腐”转变；加强制度防控，推进信息公开。通过对风险管理视角、质量管理视角和基于防止利益冲突视角的廉政风险防控优缺点的分析，结合内部控制的内涵和特征，发现内部控制与廉政风险防控存在内在一致性。从内部控制视角开展廉政风险防控具有一定的理论价值和现实意义，成为现阶段廉政风险防控工作的新视角和有效抓手。

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.

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.

Records management and risk management at Kenya Commercial Bank Limited, Nairobi

Directory of Open Access Journals (Sweden)

Cleophas Ambira

2011-03-01

Full Text Available Background: This paper reported empirical research findings of an MPhil in Information Sciences (Records and Archives Management study conducted at Moi University in Eldoret, Kenya between September 2007 and July 2009.Objectives: The aim of the study was to investigate records management and risk management at Kenya Commercial Bank (KCB Ltd, in the Nairobi area and propose recommendations to enhance the functions of records and risk management at KCB. The specific objectives of the study were to, (1 establish the nature and type of risks to which KCB is exposed, (2 conduct business process analysis and identify the records generated by KCB, (3 establish the extent to which records management is emphasised within KCB as a tool to managing risk, (4 identify which vital records of KCB need protection because of their nature and value to the bank and (5 make recommendations to enhance current records management practices to support the function of risk management in KCB.Method: The study was qualitative. Data were collected through face-to-face interviews. The theoretical framework of the study involved triangulation of the records continuum model by Frank Upward (1980 and the integrated risk management model by the Government of Canada (2000.Results: The key findings of the study were, (1 KCB is exposed to a wide range of risks by virtue of its business, (2 KCB generates a lot of records in the course of its business activities and (3 there are inadequate records management practices and systems, the lack of which undermines the risk management function.Conclusion: The findings of this study have revealed the need to strengthen records management as a critical success factor in risk mitigation within KCB and, by extension, the Kenyan banking industry. A records management model was proposed to guide the management of records within an enterprise-wide risk management framework in the bank.

Teaching Disaster Risk Management: Lessons from the Rotman School of Management

Directory of Open Access Journals (Sweden)

ANDRÁS TILCSIK

Full Text Available This article describes how disaster risk management topics are taught at the Rotman School of Management at the University of Toronto and thus highlights opportunities for developing similar course modules on disaster risk management at other institutions. An undergraduate and MBA elective course, titled Catastrophic Failure in Organizations, contains four modules that are directly relevant to disaster risk management. The first module focuses on the need to move from risk indifference to risk sensitivity. The second module considers the importance of business continuity and crisis management plans and explores their common shortcomings. The third module uses a case study to examine the topic of prospective risk management. The fourth module focuses on the vulnerability of supply chains and other complex systems to disaster risk. The article describes the details of implementing these modules and discusses opportunities for further integration of disaster risk management topics in other parts of the curriculum.

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

Directory of Open Access Journals (Sweden)

A. V. Nikolaeva

2016-01-01

Full Text Available The goal of the work is to compare Russian norms and standards of risk management of mortgage lending with international standards of risk management based on the documents of the Basel Committee. The article also aims to analyze new banking tools of risk management of mortgage lending, that arise in connection with the application of international norms and standards of risk management.Materials and Methods: The main documents considered in the article are the agreements on capital, issued by the Basel Committee on Banking Supervision: Basel-I (1988, Basel-II (2004 and Basel-III (2010, as well as instructions and standing orders issued by the Central Bank of Russia, including: Instruction № 139-I "Ob obiazatel'nykh normativakh bankov", instruction № 1 "O poriadke regulirovaniia deiatel'nosti kommercheskikh bankov", the standing order number 215-P "O metodike opredeleniia sobstvennykh sredstv (kapitala kreditnykh organizatsii", the standing order № 395-P "O metodike opredeleniia velichiny sobstvennykh sredstv (kapitala kreditnykh organizatsii («BAZEL III»" and others. On the basis of these documents the work examines and summarizes the main methods of risk management of mortgage lending, such as: comparison and analysis of risk management techniques, study of the basic documents regulating risk management in banks and generalization of risk management methods in the segment of mortgage lending.Results: The article analyzes the legal and methodological basis of risk management and provides practical methods that can be used in practice for managerial decisions in a constantly changing external economic environment. It also analyses international and native risk management. Russian standards of risk-management are compared with international. The work conducts a critical review of the effects of introduction of international standards in Russia. Special attention is paid to the practice of mortgage risk-management

Risk Management and Simulation

DEFF Research Database (Denmark)

Skovmand, David

2014-01-01

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

Overview of the Hanford risk management plan

International Nuclear Information System (INIS)

Halverson, T.G.

1998-01-01

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

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.

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...

Systematic implementation of clinical risk management in a large university hospital: the impact of risk managers.

Science.gov (United States)

Sendlhofer, Gerald; Brunner, Gernot; Tax, Christa; Falzberger, Gebhard; Smolle, Josef; Leitgeb, Karina; Kober, Brigitte; Kamolz, Lars Peter

2015-01-01

For health care systems in recent years, patient safety has increasingly become a priority issue. National and international strategies have been considered to attempt to overcome the most prominent hazards while patients are receiving health care. Thereby, clinical risk management (CRM) plays a dominant role in enabling the identification, analysis, and management of potential risks. CRM implementation into routine procedures within complex hospital organizations is challenging, as in the past, organizational change strategies using a top-down approach have often failed. Therefore, one of our main objectives was to educate a certain number of risk managers in facilitating CRM using a bottom-up approach. To achieve our primary purpose, five project strands were developed, and consequently followed, introducing CRM: corporate governance, risk management (RM) training, CRM process, information, and involvement. The core part of the CRM process involved the education of risk managers within each organizational unit. To account for the size of the existing organization, we assumed that a minimum of 1 % of the workforce had to be trained in RM to disseminate the continuous improvement of quality and safety. Following a roll-out plan, CRM was introduced in each unit and potential risks were identified. Alongside the changes in the corporate governance, a hospital-wide CRM process was introduced resulting in 158 trained risk managers correlating to 2.0 % of the total workforce. Currently, risk managers are present in every unit and have identified 360 operational risks. Among those, 176 risks were scored as strategic and clustered together into top risks. Effective meeting structures and opportunities to share information and knowledge were introduced. Thus far, 31 units have been externally audited in CRM. The CRM approach is unique with respect to its dimension; members of all health care professions were trained to be able to identify potential risks. A network of risk

The nuclear knowledge management: challenges and perspectives

International Nuclear Information System (INIS)

Gonzalez Garcia, Alejandro; Fernandez Rondon, Manuel

2007-01-01

The knowledge management has a one of its goals to keep and to drive the key organizational competence's to the development of products and services with high scientific and technological value, as proactive reply to a dynamic and complex environment. The International Atomic Energy Agency and nuclear institutions of Member Countries recognize that the pacific use of nuclear technology is supported on the nuclear knowledge collection and that its effective management is oriented to guarantee the continuos availability of scientific and technological information and high qualified people. Recently some nuclear Cuban institutions have started some projects to implement nuclear and organizational knowledge management process. In this paper some challenges and perspectives are presented for the nuclear knowledge management in Cuba and in the world context

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...

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.

Nuclear waste management: a perspective

International Nuclear Information System (INIS)

Leuze, R.E.

1980-01-01

The scope of our problems with nuclear waste management is outlined. Present and future inventories of nuclear wastes are assessed for risk. A discussion of what is presently being done to solve waste management problems and what might be done in the future are presented

Gender, Race, and Risk: Intersectional Risk Management in the Sale of Sex Online.

Science.gov (United States)

Moorman, Jessica D; Harrison, Kristen

2016-09-01

Sex worker experience of risk (e.g., physical violence or rape) is shaped by race, gender, and context. For web-based sex workers, experience of risk is comparatively minimal; what is unclear is how web-based sex workers manage risk and if online advertising plays a role in risk management. Building on intersectionality theory and research exploring risk management in sex work, we content-analyzed 600 escort advertisements from Backpage.com ( http://www.backpage.com ) to explore risk management in web-based sex work. To guide our research we asked: Do advertisements contain risk management messages? Does the use of risk management messaging differ by sex worker race or gender? Which groups have the highest overall use of risk management messages? Through a multivariate analysis of covariance (MANCOVA) we found that advertisements contained risk management messages and that uses of these phrases varied by race and gender. Blacks, women, and transgender women drove the use of risk management messages. Black and White transgender women had the highest overall use of these phrases. We conclude that risk management is an intersectional practice and that the use of risk management messages is a venue-specific manifestation of broader risk management priorities found in all venues where sex is sold.

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

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.

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.

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.

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

Creativity, Innovation and the Perspectives of Management

Directory of Open Access Journals (Sweden)

Paul MARINESCU

2016-12-01

Full Text Available This paper aims to analyse the perspectives of management starting from the current challenges and the future environmental conditions. Business models will facilitate the disappearance of the border between professional and personal life and companies will consider the improvement plan regarding the welfare of the employees and improvement measures for the monitoring, control and evaluation processes to help boost performance. Thus, the importance of the share capital and the interpersonal relationships will increase, and the human resources departments will redefine their priorities given the fact that it will be possible for the organizational network of tomorrow to be made up of employees belonging to a global network. Therefore, companies’ employees will take courses and programmes regarding the learning and development of the organizational culture, and the companies’ management will have permanent access to the evolution of employees. Actually, the main issue to be discussed here is represented by the ratio between corporate behaviour and non-corporate behaviour and the way in which the combination between these two will contribute to the increase of the organisational performance. Technology will facilitate the disappearance of the demarcation between “life at work” and “life outside of work”. Complex strategies that will identify the competence sets needed by the company will contribute to finding candidates suitable for company tasks. In the future, we can talk of people management specialists who will need increasingly more financial, analytical, marketing and risk management competences. Companies will seek to promote and support networks of people and “The Y Generation” (which considers individuals who desire “not to get lost in the crowd”, but, on the contrary, they wish to be noticed, to matter within the contexts where they evolve and, at the same time, to have a harmonious development, a fact which will

Network management in motion. Part 1. Network management in perspective. Transition or paradox?

International Nuclear Information System (INIS)

Van Beuge, M.

2010-01-01

In a series of articles various legal aspects of network management are discussed from a European and a Dutch perspective. In this first part a general introduction is given on network management and related topics, such as developing local networks to international networks, the integration to unbundling the energy market in Europe, the development of centralized to decentralized, and from conventional to sustainable. [nl

Tank waste remediation system programmatic risk management plan

International Nuclear Information System (INIS)

Seaver, D.A.

1995-01-01

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

Assessing the value of risk: Perspectives on the role of risk information in decision making

International Nuclear Information System (INIS)

Egan, M.; Smith, Graham; Maul, P.

1999-01-01

The authors of this paper profess no formal ethical or philosophical training from which to develop their position on Values in Decisions on Risk. However, as scientists with practical experience in carrying out a range of quantitative studies, we consider that we have some understanding of the strengths and weaknesses inherent in environmental risk assessment. Moreover, in attempting to use the results of such assessments, we have observed some of the ways in which quantitative risk information is used and abused. In this paper, therefore, we offer a practitioner's perspective that underlines the essential role of risk as a tool to inform and guide decisions, while at the same time emphasising the need for its proportionate use in a complex arena. We draw on experience that includes assessments for radioactive waste management and disposal, but also incorporates a range of assignments where assessment of the scale of potential environmental liabilities was a critical factor in decision making. We do not pretend to offer a resolution to the challenges laid before this Symposium, but seek to explore common themes and lessons learned regarding the role of risk information in goal-setting, performance monitoring and the overall decision process. Policy makers and regulators must act responsibly to protect confidence, not just the health of people and the environment. In doing this, to ignore risk information as a key component of strategic thinking is equally as disproportionate as making it the sole basis for decision making. There is a clear need to explain better the basis of, and motives behind, decisions - not only in terms of transparency in risk assessment but also to distinguish between the scientific and the socio-political component of the argument

Assessing the value of risk: Perspectives on the role of risk information in decision making

Energy Technology Data Exchange (ETDEWEB)

Egan, M.; Smith, Graham; Maul, P. [QuantiSci Limited, Henley-on-Thames (United Kingdom)

1999-12-01

The authors of this paper profess no formal ethical or philosophical training from which to develop their position on Values in Decisions on Risk. However, as scientists with practical experience in carrying out a range of quantitative studies, we consider that we have some understanding of the strengths and weaknesses inherent in environmental risk assessment. Moreover, in attempting to use the results of such assessments, we have observed some of the ways in which quantitative risk information is used and abused. In this paper, therefore, we offer a practitioner's perspective that underlines the essential role of risk as a tool to inform and guide decisions, while at the same time emphasising the need for its proportionate use in a complex arena. We draw on experience that includes assessments for radioactive waste management and disposal, but also incorporates a range of assignments where assessment of the scale of potential environmental liabilities was a critical factor in decision making. We do not pretend to offer a resolution to the challenges laid before this Symposium, but seek to explore common themes and lessons learned regarding the role of risk information in goal-setting, performance monitoring and the overall decision process. Policy makers and regulators must act responsibly to protect confidence, not just the health of people and the environment. In doing this, to ignore risk information as a key component of strategic thinking is equally as disproportionate as making it the sole basis for decision making. There is a clear need to explain better the basis of, and motives behind, decisions - not only in terms of transparency in risk assessment but also to distinguish between the scientific and the socio-political component of the argument.

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...

How to manage project opportunity and risk why uncertainty management can be a much better approach than risk management

CERN Document Server

Ward, Stephen

2011-01-01

Since I wrote the Foreword for the second edition of this book, risk management processes have become much more widely used, but controversy about what should be done and how best to do it has grown. Managing risk is a risky business. Chapman and Ward provide an in-depth explanation of why it is important to understand and manage underlying uncertainty in all its forms, in order to realise opportunities more fully and enhance corporate performance. They show what best practice should look like. The implications go well beyond the conventional wisdom of project risk management, providing an enl

Quantifying uncertainty in pest risk maps and assessments: adopting a risk-averse decision maker’s perspective

Directory of Open Access Journals (Sweden)

Denys Yemshanov

2013-09-01

Full Text Available Pest risk maps are important decision support tools when devising strategies to minimize introductions of invasive organisms and mitigate their impacts. When possible management responses to an invader include costly or socially sensitive activities, decision-makers tend to follow a more certain (i.e., risk-averse course of action. We presented a new mapping technique that assesses pest invasion risk from the perspective of a risk-averse decision maker.We demonstrated the method by evaluating the likelihood that an invasive forest pest will be transported to one of the U.S. states or Canadian provinces in infested firewood by visitors to U.S. federal campgrounds. We tested the impact of the risk aversion assumption using distributions of plausible pest arrival scenarios generated with a geographically explicit model developed from data documenting camper travel across the study area. Next, we prioritized regions of high and low pest arrival risk via application of two stochastic ordering techniques that employed, respectively, first- and second-degree stochastic dominance rules, the latter of which incorporated the notion of risk aversion. We then identified regions in the study area where the pest risk value changed considerably after incorporating risk aversion.While both methods identified similar areas of highest and lowest risk, they differed in how they demarcated moderate-risk areas. In general, the second-order stochastic dominance method assigned lower risk rankings to moderate-risk areas. Overall, this new method offers a better strategy to deal with the uncertainty typically associated with risk assessments and provides a tractable way to incorporate decision-making preferences into final risk estimates, and thus helps to better align these estimates with particular decision-making scenarios about a pest organism of concern. Incorporation of risk aversion also helps prioritize the set of locations to target for inspections and

Enterprise risk management: A process for enhanced management and improved performance

OpenAIRE

Gates , Stephen; Nicolas , Jean-Louis; Walker , Paul L.

2012-01-01

Some company boards of directors and management teams are still reluctant to embrace enterprise risk management (ERM) because of the uncertainty regarding its value to the bottom line. A survey of audit and risk management executives suggests that the use of ERM leads to increased management consensus, better-informed decisions, enhanced communication of risk taking, and greater management accountability.

Risk Management Standards: Towards a contemporary, organisation-wide management approach

OpenAIRE

Koutsoukis, Nikitas-Spiros

2010-01-01

Risk management has been progressively evolving into a systemic approach for organisational decision making in today’s dynamic economic environment of the global era. In this context, risk management is reaching beyond its traditional finance and insurance application context and is entering the sphere of generic, organisation-wide management approaches. In support of this argument we consider four generic risk management standards issued at the institutional, national or international level...

Exploring knowledge management maturity from funcionalist and interpretivist perspectives

Directory of Open Access Journals (Sweden)

José Enrique Arias-Pérez

2015-01-01

Full Text Available The purpose of this article is to explore the Knowledge Management Maturity Model (KMMM in big companies that are pioneers in the implementation of KM practices in Medellin, Colombia. The KMMM integrates the Funcionalist and Interpretivist perspectives on knowledge management and consists of four key areas: Organization and People, Processes, Technology, and Interpretation. Cluster analysis helped establishing the ranges of the five maturity levels: Initial, Awareness, Defined, Managed, and Optimized. The results showed that only two companies overcame the “Defined” level, and the best performance was achieved in the Technology key area. In conclusion, the companies have difficulties at going further the implementation of basic KM initiatives and achieving a higher level of maturity associated with the articulation of KM practices with business processes and a higher degree of appropriation and usage by individuals. This may occur because of the preponderance of the Functionalist approach in the business context and the low level of penetration and integration with the Interpretivist perspective of KM.

Development of computerized risk management tool

International Nuclear Information System (INIS)

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

1997-01-01

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

Risk assessment and risk management at the Canadian Food Inspection Agency (CFIA): a perspective on the monitoring of foods for chemical residues.

Science.gov (United States)

Bietlot, Henri P; Kolakowski, Beata

2012-08-01

The Canadian Food Inspection Agency (CFIA) uses 'Ranked Risk Assessment' (RRA) to prioritize chemical hazards for inclusion in monitoring programmes or method development projects based on their relative risk. The relative risk is calculated for a chemical by scoring toxicity and exposure in the 'risk model scoring system' of the Risk Priority Compound List (RPCL). The relative ranking and the risk management options are maintained and updated in the RPCL. The ranking may be refined by the data generated by the sampling and testing programs. The two principal sampling and testing programmes are the National Chemical Residue Monitoring Program (NCRMP) and the Food Safety Action Plan (FSAP). The NCRMP sampling plans focus on the analysis of federally registered products (dairy, eggs, honey, meat and poultry, fresh and processed fruit and vegetable commodities, and maple syrup) for residues of veterinary drugs, pesticides, environmental contaminants, mycotoxins, and metals. The NCRMP is complemented by the Food Safety Action Plan (FSAP) targeted surveys. These surveys focus on emerging chemical hazards associated with specific foods or geographical regions for which applicable maximum residue limits (MRLs) are not set. The data from the NCRMP and FSAP also influence the risk management (follow-up) options. Follow-up actions vary according to the magnitude of the health risk, all with the objective of preventing any repeat occurrence to minimize consumer exposure to a product representing a potential risk to human health. © Her Majesty the Queen in Right of Canada 2012. Drug Testing and Analysis © 2012 John Wiley & Sons, Ltd.

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...

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...

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.

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.

In-core fuel management and perspectives

International Nuclear Information System (INIS)

Waeckel, N.

2009-01-01

The management of nuclear fuel inside the core has to take into account the necessity to stop the reactor periodically to renew the fuel partially and to perform maintenance operations. The fuel management strategy determines the cost of the fuel (through the number of assemblies that have been changed and their enrichment rate) and the duration of the campaign till next stop. Fuel management strategies have to conciliate different objectives: -) the safety of the reactor, -) the reliability of the fuel assemblies, -) the optimization of the fuel cost by increasing the discharge burnup. The necessity of spent fuel processing implies a maximal discharge burnup. During the 1990-2000 period, the discharge burnups have been progressively increased through the following fuel management strategies: Garance, Cyclades and Gemmes. During the years 2000-2009, the progressive absorption of the nuclear over-equipment, the opening of the European electricity markets favored power production through the MOX-parity, Alcade and Galice fuel management strategies. The perspective for next decade is to favor production to the prejudice of higher burnups. (A.C.)

Pricing risk and ambiguity : The effect of perspective taking

NARCIS (Netherlands)

Trautmann, S.T.; Schmidt, U.

2012-01-01

In the valuation of uncertain prospects, a difference is often observed between selling and buying perspectives. This paper distinguishes between risk (known probabilities) and ambiguity (unknown probabilities) in decisions under uncertainty and shows that the valuation disparity increases under

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...

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...

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