WorldWideScience

Sample records for risk management process

  1. A Risk Management Process for Consumers

    NARCIS (Netherlands)

    van Cleeff, A.

    2010-01-01

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

  2. RISK MANAGEMENT PROCESSES IN SUPPLY CHAINS

    Directory of Open Access Journals (Sweden)

    Aleksandar Aleksić

    2009-06-01

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

  3. Managing risks in business model innovation processes

    DEFF Research Database (Denmark)

    Taran, Yariv; Boer, Harry; Lindgren, Peter

    2010-01-01

    ) innovation is a risky enterprise, many companies are still choosing not to apply any risk management in the BM innovation process. The objective of this paper is to develop a better understanding of how risks are handled in the practice of BM innovation. An analysis of the BM innovation experiences of two...... industrial companies shows that both companies are experiencing high levels of uncertainty and complexity during their innovation processes and are, consequently, struggling to find new processes for handling the risks involved. Based on the two companies’ experiences, various testable propositions are put...... forward, which link success and failure to the way companies appreciate and handle the risks involved in BM innovation....

  4. Credit Risk Management - Loan Approval Process

    OpenAIRE

    Lulzim Rashiti; Branimir Kalas; Lazar Drec; Nino Stameski

    2016-01-01

    The aim of this study is on understanding the international regulations issued by Basel I, Basel II and Basel III to best supervise and manage credit risk management policies. Part of paper will focus on the description and impacts of the regulations and the pivotal importance they play in providing a sound banking system. Credit risk represents another important element that will be analysed considering that it lays the foundation during the loan consideration and approval process. The paper...

  5. 76 FR 57723 - Electricity Sector Cybersecurity Risk Management Process Guideline

    Science.gov (United States)

    2011-09-16

    ... Electricity Sector Cybersecurity Risk Management Process Guideline AGENCY: Department of Energy. ACTION... to publish the Electricity Sector Cybersecurity Risk Management Process Guideline. The guideline describes a risk management process that is targeted to the specific needs of electricity sector...

  6. The NASA Continuous Risk Management Process

    Science.gov (United States)

    Pokorny, Frank M.

    2004-01-01

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

  7. 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 .

  8. Process-based project proposal risk management

    Directory of Open Access Journals (Sweden)

    Alok Kumar

    2016-12-01

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

  9. Credit Risk Management - Loan Approval Process

    Directory of Open Access Journals (Sweden)

    Lulzim Rashiti

    2016-03-01

    Full Text Available The aim of this study is on understanding the international regulations issued by Basel I, Basel II and Basel III to best supervise and manage credit risk management policies. Part of paper will focus on the description and impacts of the regulations and the pivotal importance they play in providing a sound banking system. Credit risk represents another important element that will be analysed considering that it lays the foundation during the loan consideration and approval process. The paper will also explain in detail procedures and responsibilities shared along the process of loan acceptance by a banker. To sum up, the overall process from application to loan approval or denial will be explained pointing out the implications that are faced along the way

  10. The process of Risk management for E-business

    OpenAIRE

    Erion Lekaj; Donika Kercini

    2017-01-01

    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 an IT security program. Information and communications technology management and IT security are responsible for ensuring that technology risks are manage...

  11. Incorporating Enterprise Risk Management in the Business Model Innovation Process

    OpenAIRE

    Yariv Taran; Harry Boer; Peter Lindgren

    2013-01-01

    Purpose: Relative to other types of innovations, little is known about business model innovation, let alone the process of managing the risks involved in that process. Using the emerging (enterprise) risk management literature, an approach is proposed through which risk management can be embedded in the business model innovation process. Design: The integrated business model innovation risk management model developed in this paper has been tested through an action research study in a Dani...

  12. The process of Risk management for E-business

    Directory of Open Access Journals (Sweden)

    Erion Lekaj

    2017-07-01

    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 an 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 soft ware.

  13. Process-based project proposal risk management

    OpenAIRE

    Alok Kumar

    2016-01-01

    We all are aware of the organizational omnipresence. Projects within the organizations are ubiquitous too. Projects achieve their goals successfully if they are planned, scheduled, controlled and implemented well. The project lifecycle of initiating, planning, scheduling, controlling and implementing are very well-planned by project managers and the organizations. Successful projects have well-developed risk management plans to deal with situations impacting projects. Like any other organisat...

  14. Incorporating Enterprise Risk Management in the Business Model Innovation Process

    Directory of Open Access Journals (Sweden)

    Yariv Taran

    2013-12-01

    Full Text Available Purpose: Relative to other types of innovations, little is known about business model innovation, let alone the process of managing the risks involved in that process. Using the emerging (enterprise risk management literature, an approach is proposed through which risk management can be embedded in the business model innovation process. Design: The integrated business model innovation risk management model developed in this paper has been tested through an action research study in a Danish company. Findings: The study supports our proposition that the implementation of risk management throughout the innovation process reduces the risks related to the uncertainty and complexity of developing and implementing a new business model. Originality: The study supports the proposition that the implementation of risk management throughout the innovation process reduces the risks related to the uncertainty and complexity of developing and implementing a new business model. The business model risk management model makes managers much more focused on identifying problematic issues and putting explicit plans and timetables into place for resolving/reducing risks, and assists companies in aligning the risk treatment choices made during the

  15. 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...

  16. TECHNIQUES FOR MANAGING PROJECTS RISK IN CAPITAL BUDGETING PROCESS

    Directory of Open Access Journals (Sweden)

    Sinisa Bogdan

    2010-12-01

    Full Text Available The paper examines capital budgeting process and techniques of risk analysis in the process of selecting optimal project. Corporate manager in process of capital budgeting uses numerous techniques some of them are based on intuition and experience of manager, and some of them are analytic based on sensitive, scenario, decision tree and Monte Carlo method. All methods are used to determinate and to predict risk influence on the projects. Article deals with analytical techniques and real problems that can arise in capital budgeting process. Trough case study in article we analyzed risks that may emerge from different techniques. Conclusion that emerges from analyzing different methods of risk techniques is that only with right combination of these techniques corporate manager could decide correctly to choose optimal capital project.

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

    Science.gov (United States)

    2012-05-23

    ... Electricity Subsector Cybersecurity Risk Management Process AGENCY: Office of Electricity Delivery and Energy... of the publication, by the Department of Energy (DOE) of the Electricity Subsector Cybersecurity Risk... specific needs of electricity sector organizations. The objective of the guideline is to build upon...

  18. 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

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

    Science.gov (United States)

    2012-03-07

    ... Electricity Subsector Cybersecurity Risk Management Process Guideline AGENCY: Office of Electricity Delivery... Department of Energy (DOE) invites public comment on DOE's intent to publish the Electricity Subsector... targeted to the specific needs of electricity sector organizations. The objective of the guideline is to...

  20. Risk Management

    OpenAIRE

    Černák, Peter

    2009-01-01

    The Master's Thesis deals with the topic of risk management in a non-financial company. The goal of this Thesis is to create a framework for review of risk management process and to practically apply it in a case study. Objectives of the theoretical parts are: stating the reasons for risk management in non-financial companies, addressing the main parts of risk management and providing guidance for review of risk management process. A special attention is paid to financial risks. The practical...

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

    Science.gov (United States)

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

  2. Managing risk and knowledge in the internationalisation process

    Directory of Open Access Journals (Sweden)

    Victoria Rodríguez

    2010-10-01

    Full Text Available The internationalisation process in a company embodies a series of projects that are performed in different geographical regions. In some cases, especially in SMEs, companies are not capable of predicting the risks that will be faced during the process and they do not have suitable tools to manage the knowledge acquired in previous internationalisation experiences. Therefore, they fail to turn internationalisation into a sustainable competitive advantage. This paper reports the conclusions of a study based on both a bibliographic research and a comprehensive study of a group of industrial companies. This study includes the analysis of 37 internal reports about internationalisation experiences and the carrying out of semi-structured interviews with managers responsible for international operations. We have identified the main factors (risks that prevent successful internationalisation processes and we have proposed a taxonomy of them. Furthermore, we have proposed a general framework (model which provides a common perspective for all internationalisation projects, bringing coherence, and also a certain level of systematisation, to the decisions made in regards to different internationalisation projects. The model provides a systemic vision of the whole internationalisation process and we believe that companies can develop efficient learning systems based on this framework. It would give them differentiation and, therefore, help them to turn internationalisation into a sustainable competitive advantage.

  3. Application of Risk Assessment Tools in the Continuous Risk Management (CRM) Process

    Science.gov (United States)

    Ray, Paul S.

    2002-01-01

    Marshall Space Flight Center (MSFC) of the National Aeronautics and Space Administration (NASA) is currently implementing the Continuous Risk Management (CRM) Program developed by the Carnegie Mellon University and recommended by NASA as the Risk Management (RM) implementation approach. The four most frequently used risk assessment tools in the center are: (a) Failure Modes and Effects Analysis (FMEA), Hazard Analysis (HA), Fault Tree Analysis (FTA), and Probabilistic Risk Analysis (PRA). There are some guidelines for selecting the type of risk assessment tools during the project formulation phase of a project, but there is not enough guidance as to how to apply these tools in the Continuous Risk Management process (CRM). But the ways the safety and risk assessment tools are used make a significant difference in the effectiveness in the risk management function. Decisions regarding, what events are to be included in the analysis, to what level of details should the analysis be continued, make significant difference in the effectiveness of risk management program. Tools of risk analysis also depends on the phase of a project e.g. at the initial phase of a project, when not much data are available on hardware, standard FMEA cannot be applied; instead a functional FMEA may be appropriate. This study attempted to provide some directives to alleviate the difficulty in applying FTA, PRA, and FMEA in the CRM process. Hazard Analysis was not included in the scope of the study due to the short duration of the summer research project.

  4. Organizational reputation risk management as a component of the dynamic capabilities management process1

    Directory of Open Access Journals (Sweden)

    Krzakiewicz Kazimierz

    2015-05-01

    Full Text Available Intangible assets, such as reputation, brand value, strategic position, alliances, knowledge, human capital, play an increasingly important role in shaping the market value of an organization. At the same time, in the literature it is emphasized that the attribute of intangibility translates into an increased risk of destruction or impairment of assets. Thus, the research problem associated with the analysis of organizational reputation risk management as a component of the dynamic capabilities management process should be considered important from the point of view of management science. The study attempts to outline the concept of dynamic capabilities, define the concept of risk and subsequently discuss the relationship between dynamic capabilities and organizational reputation risk management.

  5. Risk management for companies focused on innovation processes

    Directory of Open Access Journals (Sweden)

    Ana Paula Beck da Silva Etges

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

  6. Decision making for wildfires: A guide for applying a risk management process at the incident level

    Science.gov (United States)

    Mary A. Taber; Lisa M. Elenz; Paul G. Langowski

    2013-01-01

    This publication focuses on the thought processes and considerations surrounding a risk management process for decision making on wildfires. The publication introduces a six element risk management cycle designed to encourage sound risk-informed decision making in accordance with Federal wildland fire policy, although the process is equally applicable to non-Federal...

  7. Business Process Risk Management, Compliance and Internal Control: A Research Agenda

    DEFF Research Database (Denmark)

    Rikhardsson, Pall M.; Best, Peter; Green, Peter

    Integration of risk management and management control is emerging as an important area in the wake of the Sarbanes-Oxley Act and with ongoing development of frameworks such as the Enterprise Risk Management (ERM) framework from the Committee of Sponsoring Organizations of the Treadway Commission...... (COSO). Based on an inductive methodological approach using literature review and interviews with managers engaged in risk management and internal control projects, this paper identifies three main areas that currently have management attention. These are business process risk management, compliance...... management and internal control development. This paper discusses these areas and identifies a series of research questions regarding these critical issues....

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

    Science.gov (United States)

    Raftery, Michael; Carter-Journet, Katrina

    2013-01-01

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

  9. 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.

  10. Credit Risk Management. A study on risk integration in the bank lending process.

    NARCIS (Netherlands)

    Sleddens, Linda Elsa Wilhelmina

    2011-01-01

    Credit risk management has been a topic much written about in the last decade. Substantial credit risk losses can undermine the stability of the bank. Both banks and national bank supervisors have realized the need to invest in credit risk management. Partly driven by regulations such as the Basel

  11. 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.

  12. A review of risk management process in construction projects of developing countries

    Science.gov (United States)

    Bahamid, R. A.; Doh, S. I.

    2017-11-01

    In the construction industry, risk management concept is a less popular technique. There are three main stages in the systematic approach to risk management in construction industry. These stages include: a) risk response; b) risk analysis and evaluation; and c) risk identification. The high risk related to construction business affects each of its participants; while operational analysis and management of construction related risks remain an enormous task to practitioners of the industry. This paper tends towards reviewing the existing literature on construction project risk managements in developing countries specifically on risk management process. The literature lacks ample risk management process approach capable of capturing risk impact on diverse project objectives. This literature review aims at discovering the frequently used techniques in risk identification and analysis. It also attempts to identify response to clarifying the different classifications of risk sources in the existing literature of developing countries, and to identify the future research directions on project risks in the area of construction in developing countries.

  13. Risk assessment in the federal government: managing the process

    National Research Council Canada - National Science Library

    National Research Council Staff

    1983-01-01

    ... on the Institutional Means for Assessment of Risks to Public Health Commission on Life Sciences National Research Council NATIONAL ACADEMY PRESS Washington, D.C. 1983 Copyrightthe cannot be not from book, paper however, version for formatting, original authoritative the typesetting-specific the as from created publication files XML from other this and of rec...

  14. Risk management in medical product development process using traditional FMEA and fuzzy linguistic approach: a case study

    National Research Council Canada - National Science Library

    Kirkire, Milind Shrikant; Rane, Santosh B; Jadhav, Jagdish Rajaram

    2015-01-01

    .... Managing the risks during MPD process is very crucial. The objective of this research is to explore risks during MPD in a dental product manufacturing company and propose a model for risk mitigation during MPD process to minimize failure events...

  15. A Risk Management Process for Consumers: The Next Step in Information Security

    NARCIS (Netherlands)

    van Cleeff, A.

    2010-01-01

    Simply by using information technology, consumers expose themselves to considerable security risks. Because no technical or legal solutions are readily available, and awareness programs have limited impact, the only remedy is to develop a risk management process for consumers. Consumers need to

  16. The Influence Of Business Process And Risk Management On The Quality Of Accounting Information System

    Directory of Open Access Journals (Sweden)

    Azhar Susanto

    2017-09-01

    Full Text Available Business process and risk management are factors which can improve the quality of accounting information systems. In Indonesia this phenomenon happens in many organizations showing that there is disintegrated accounting information systems which then causes unqualified accounting information. This research was carried out in order to find out fact through examination presenting in the influence of business process and risk management towards accounting information system. Data used in this research were gained through survey by distributing questionnaires to company in indonesia. The data were then managed statistically by applying SEM PLS. Research method used was explanatory research. The result of this study shows that the problem in inqualified accounting information system occurs due to the business process and risk management is not entirely good as expected.

  17. Risk, rationality, and community: Psychology, ethnography, and transactions in the risk management process

    Energy Technology Data Exchange (ETDEWEB)

    Cantor, R. (National Science Foundation, Washington, DC (United States)); Schoepfle, M. (Dept. of the Interior, Washington, DC (United States))

    1993-01-01

    Communities at risk are confronted by an increasingly complex array of opportunities and need for involvement in decisions affecting them. Policy analysis often demands from researchers insights into the complicated process of how best to account for community involvement in decision making. Often, this requires additional understanding of how decisions are made by community members. Researchers trying to capture the important features of decision making will necessarily make assumptions regarding the rationality underlying the decision process. Two implicit and often incompatible sets of research assumptions about decision processes have emerged: outcome rationality and process rationality. Using outcome rationality, the principal goal of risk research often is to predict how people will react to risk regardless of what they say they would do. Using process rationality, the research goal is to determine how people perceive the risks to which they are exposed and how perceptions actually influence responses. The former approach is associated with research in risk communication, conducted by economists and cognitive psychologists; the latter approach is associated with the field of risk negotiation and acceptance, conducted by anthropologists, some sociologists, and planners. This article describes (1) the difference between the assumptions behind outcome and process rationality regarding decision making and the problems resulting from these differences; (2) the promise and limitations of both sets of assumptions; (3) the potential contributions from cognitive psychology, cognitive ethnography, and the theory of transaction costs in reconciling the differences in assumptions and making them more complementary; and (4) the implications of such complementarity.

  18. Risk aversion and risk seeking in multicriteria forest management: a Markov decision process approach

    Science.gov (United States)

    Joseph Buongiorno; Mo Zhou; Craig Johnston

    2017-01-01

    Markov decision process models were extended to reflect some consequences of the risk attitude of forestry decision makers. One approach consisted of maximizing the expected value of a criterion subject to an upper bound on the variance or, symmetrically, minimizing the variance subject to a lower bound on the expected value.  The other method used the certainty...

  19. Process evaluation of a tailored intervention programme of cardiovascular risk management in general practices

    NARCIS (Netherlands)

    Huntink, E.; Wensing, M.; Timmers, I.M.; Lieshout, J. van

    2016-01-01

    BACKGROUND: A tailored implementation programme to improve cardiovascular risk management (CVRM) in general practice had little impact on outcomes. The questions in this process evaluation concerned (1) impact on counselling skills and CVRM knowledge of practice nurses, (2) their use of the various

  20. Rethinking risk management policies: from 'participation' to processes of dialogue, debate, and negotiation

    NARCIS (Netherlands)

    Forester, J.; Theckethil, R.K.; Fra Paleo, U.

    2009-01-01

    Risk management requires integrating scientific and political processes to respond to public concerns legitimately and practically. Fostering public participation is easier to preach than to espouse. This chapter clarifies key elements of public participation—dialogue, debate, and negotiation—to

  1. A call for the need to incorporate enterprise risk management as part of the overall business model innovation process

    DEFF Research Database (Denmark)

    Taran, Yariv; Boer, Harry; Lindgren, Peter

    2009-01-01

    Relative to, for example, radical product innovation process, little isknown about business model innovation, let alone the process of managingthe risks involved in that process. Using the emerging Enterprise RiskManagement (ERM) literature, an approach is proposed through whichrisk management can...... be embedded in the business model innovationprocess. The integrated risk management/business model innovationprocess model has been tested through an action research study in aDanish company. The results are promising and warrant continuation ofthe development of that model....

  2. The integration of the risk management process with the lifecycle of medical device software.

    Science.gov (United States)

    Pecoraro, F; Luzi, D

    2014-01-01

    The application of software in the Medical Device (MD) domain has become central to the improvement of diagnoses and treatments. The new European regulations that specifically address software as an important component of MD, require complex procedures to make software compliant with safety requirements, introducing thereby new challenges in the qualification and classification of MD software as well as in the performance of risk management activities. Under this perspective, the aim of this paper is to propose an integrated framework that combines the activities to be carried out by the manufacturer to develop safe software within the development lifecycle based on the regulatory requirements reported in US and European regulations as well as in the relevant standards and guidelines. A comparative analysis was carried out to identify the main issues related to the application of the current new regulations. In addition, standards and guidelines recently released to harmonise procedures for the validation of MD software have been used to define the risk management activities to be carried out by the manufacturer during the software development process. This paper highlights the main issues related to the qualification and classification of MD software, providing an analysis of the different regulations applied in Europe and the US. A model that integrates the risk management process within the software development lifecycle has been proposed too. It is based on regulatory requirements and considers software risk analysis as a central input to be managed by the manufacturer already at the initial stages of the software design, in order to prevent MD failures. Relevant changes in the process of MD development have been introduced with the recognition of software being an important component of MDs as stated in regulations and standards. This implies the performance of highly iterative processes that have to integrate the risk management in the framework of software

  3. Risk Management and Risk Management Failure: Lessons for Business Enterprises

    OpenAIRE

    Olajide Solomon Fadun

    2013-01-01

    The recent economic volatility gives risk management a new focus and eminence. Successful firms are able and willing to effectively integrate risk management at all levels of management process. The purpose of the study is to highlight the importance of effective risk management (ERM) in preventing risk management failure. Risk management failure prevents firms’ from meeting their expectations; thus, results to repeated business and project failures. Although the degree of risk management act...

  4. What Hinders the Implementation of the Supply Chain Risk Management Process Into Practice Organizations?

    DEFF Research Database (Denmark)

    Gredal, Pauline; Panyi, Zsófia; Kinra, Aseem

    2017-01-01

    Supply chain risk management process (SCRMP) is being advanced as a systematic and structured approach for identifying, assessing, mitigating, and monitoring all risks arising from complex supply chains. However, while the literature deems it necessary to implement such a process as the solution...... to the increasing vulnerability companies face, there is a lack of empirical evidence on whether the process model can be implemented. This paper shows possible hindrances in the implementation of SCRMP for companies with global supply chains based on the findings of an in-depth case study. Our empirical findings...... indicate that the unavailability of information and lack of proper data management hinders the implementation of SCRMP in the context global supply chains....

  5. Managing the potential risks of using bacteria-laden water in mineral processing to protect freshwater.

    Science.gov (United States)

    Liu, Wenying; Moran, Chris J; Vink, Sue

    2013-06-18

    The minerals industry is being driven to access multiple water sources and increase water reuse to minimize freshwater withdrawal. Bacteria-laden water, such as treated effluent, has been increasingly used as an alternative to freshwater for mineral processing, in particular flotation, where conditions are favorable for bacterial growth. However, the risk posed by bacteria to flotation efficiency is poorly understood. This could be a barrier to the ongoing use of this water source. This study tested the potential of a previously published risk-based approach as a management tool to both assist mine sites in quantifying the risk from bacteria, and finding system-wide cost-effective solutions for risk mitigation. The result shows that the solution of adjusting the flotation chemical regime could only partly control the risk. The second solution of using tailings as an absorbent was shown to be effective in the laboratory in reducing bacterial concentration and thus removing the threat to flotation recovery. The best solution is likely to combine internal and external approaches, that is, inside and outside processing plants. Findings in this study contribute possible methods applicable to managing the risk from water-borne bacteria to plant operations that choose to use bacteria-containing water, when attempting to minimize freshwater use, and avoiding the undesirable consequences of increasing its use.

  6. [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.

  7. On the Risk Management and Auditing of SOA Based Business Processes

    Science.gov (United States)

    Orriens, Bart; Heuvel, Willem-Jan V./D.; Papazoglou, Mike

    SOA-enabled business processes stretch across many cooperating and coordinated systems, possibly crossing organizational boundaries, and technologies like XML and Web services are used for making system-to-system interactions commonplace. Business processes form the foundation for all organizations, and as such, are impacted by industry regulations. This requires organizations to review their business processes and ensure that they meet the compliance standards set forth in legislation. In this paper we sketch a SOA-based service risk management and auditing methodology including a compliance enforcement and verification system that assures verifiable business process compliance. This is done on the basis of a knowledge-based system that allows integration of internal control systems into business processes conform pre-defined compliance rules, monitor both the normal process behavior and those of the control systems during process execution, and log these behaviors to facilitate retrospective auditing.

  8. Risk management in medical product development process using traditional FMEA and fuzzy linguistic approach: a case study

    Science.gov (United States)

    Kirkire, Milind Shrikant; Rane, Santosh B.; Jadhav, Jagdish Rajaram

    2015-05-01

    Medical product development (MPD) process is highly multidisciplinary in nature, which increases the complexity and the associated risks. Managing the risks during MPD process is very crucial. The objective of this research is to explore risks during MPD in a dental product manufacturing company and propose a model for risk mitigation during MPD process to minimize failure events. A case study approach is employed. The existing MPD process is mapped with five phases of the customized phase gate process. The activities during each phase of development and risks associated with each activity are identified and categorized based on the source of occurrence. The risks are analyzed using traditional Failure mode and effect analysis (FMEA) and fuzzy FMEA. The results of two methods when compared show that fuzzy approach avoids the duplication of RPNs and helps more to convert cognition of experts into information to get values of risk factors. The critical, moderate, low level and negligible risks are identified based on criticality; risk treatments and mitigation model are proposed. During initial phases of MPD, the risks are less severe, but as the process progresses the severity of risks goes on increasing. The MPD process should be critically designed and simulated to minimize the number of risk events and their severity. To successfully develop the products/devices within the manufacturing companies, the process risk management is very essential. A systematic approach to manage risks during MPD process will lead to the development of medical products with expected quality and reliability. This is the first research of its kind having focus on MPD process risks and its management. The methodology adopted in this paper will help the developers, managers and researchers to have a competitive edge over the other companies by managing the risks during the development process.

  9. Managing Operational Risk

    OpenAIRE

    Stanciu Victoria; Ali Eden; Ivancenco Veronica Constanta

    2010-01-01

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

  10. 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.

  11. Process management - critical safety issues with focus on risk management; Processtyrning - kritiska saekerhetsfraagor med inriktning paa riskhantering

    Energy Technology Data Exchange (ETDEWEB)

    Sanne, Johan M. [Linkoeping Univ. (Sweden). The Tema Inst. - Technology and Social Change

    2005-12-15

    Organizational changes focused on process orientation are taking place among Swedish nuclear power plants, aiming at improving the operation. The Swedish Nuclear Power Inspectorate has identified a need for increased knowledge within the area for its regulatory activities. In order to analyze what process orientation imply for nuclear power plant safety a number of questions must be asked: 1. How is safety in nuclear power production created currently? What significance does the functional organization play? 2. How can organizational forms be analysed? What consequences does quality management have for work and for the enterprise? 3. Why should nuclear power plants be process oriented? Who are the customers and what are their customer values? Which customers are expected to contribute from process orientation? 4. What can one learn from process orientation in other safety critical systems? What is the effect on those features that currently create safety? 5. Could customer values increase for one customer without decreasing for other customers? What is the relationship between economic and safety interests from an increased process orientation? The deregulation of the electricity market have caused an interest in increased economic efficiency, which is the motivation for the interest in process orientation. among other means. It is the nuclear power plants' owners and the distributors (often the same corporations) that have the strongest interest in process orientation. If the functional organization and associated practices are decomposed, the prerequisites of the risk management regime changes, perhaps deteriorating its functionality. When nuclear power operators consider the introduction of process orientation, the Nuclear Power Inspectorate should require that 1. The operators perform a risk analysis beforehand concerning the potential consequences that process orientation might convey: the analysis should contain a model specifying how safety is currently

  12. Applying the Analytic Hierarchy Process to Oil Sands Environmental Compliance Risk Management

    Science.gov (United States)

    Roux, Izak Johannes, III

    Oil companies in Alberta, Canada, invested $32 billion on new oil sands projects in 2013. Despite the size of this investment, there is a demonstrable deficiency in the uniformity and understanding of environmental legislation requirements that manifest into increased project compliance risks. This descriptive study developed 2 prioritized lists of environmental regulatory compliance risks and mitigation strategies and used multi-criteria decision theory for its theoretical framework. Information from compiled lists of environmental compliance risks and mitigation strategies was used to generate a specialized pairwise survey, which was piloted by 5 subject matter experts (SMEs). The survey was validated by a sample of 16 SMEs, after which the Analytic Hierarchy Process (AHP) was used to rank a total of 33 compliance risks and 12 mitigation strategy criteria. A key finding was that the AHP is a suitable tool for ranking of compliance risks and mitigation strategies. Several working hypotheses were also tested regarding how SMEs prioritized 1 compliance risk or mitigation strategy compared to another. The AHP showed that regulatory compliance, company reputation, environmental compliance, and economics ranked the highest and that a multi criteria mitigation strategy for environmental compliance ranked the highest. The study results will inform Alberta oil sands industry leaders about the ranking and utility of specific compliance risks and mitigations strategies, enabling them to focus on actions that will generate legislative and public trust. Oil sands leaders implementing a risk management program using the risks and mitigation strategies identified in this study will contribute to environmental conservation, economic growth, and positive social change.

  13. 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....

  14. A Quantitative Approach to Credit Risk Management in the Underwriting Process for the Retail Portfolio

    Directory of Open Access Journals (Sweden)

    Andreea Costea

    2017-03-01

    Full Text Available The core of this paper encloses a mathematical approach of credit risk management, based on a scorecard model used in the bank’s underwriting process. The main purpose of this paper is to present how to develop, validate and apply a rating model in practice. Using 21568 loan applications provided by one of the largest banks from Romania, a scorecard is built for the underwriting purposes. The customer data used in the modeling is based on socio-demographic characteristics. The model is developed according to a set of statistical methods for parameter estimation. A real-life example of how to use such a model in the strategic decisions of a bank is presented. The cut-off score for the acceptance of the applications is calibrated to a potential risk appetite of the main four banks in Romania. From an evaluative perspective, this paper is compatible with an exploratory approach to quantitative research methodology.

  15. EPA Proposes Revisions to its Risk Management Program to Improve Chemical Process Safety and Further Protect Communities and First Responders

    Science.gov (United States)

    WASHINGTON - The U.S. Environmental Protection Agency (EPA) is proposing to revise its Risk Management Program (RMP) regulations to improve chemical process safety, assist local emergency authorities in planning for and responding to accidents, and

  16. Towards a robust assessment of bridge clogging processes in flood risk management

    Science.gov (United States)

    Gschnitzer, T.; Gems, B.; Mazzorana, B.; Aufleger, M.

    2017-02-01

    River managers are aware that wood-clogging mechanisms frequently trigger damage-causing processes like structural damages at bridges, sudden channel outbursts, and occasionally, major displacements of the water course. To successfully mitigate flood risks related to the transport of large wood (LW), river managers need a guideline for an accurate and reliable risk assessment procedure and the design of river sections and bridges that are endangered of LW clogging. In recent years, comprehensive research dealing with the triggers of wood-clogging mechanisms at bridges and the corresponding impacts on flood risk was accomplished at the University of Innsbruck. A large set of laboratory experiments in a rectangular flume was conducted. In this paper we provide an overall view of these tests and present our findings. By applying a logistic regression analysis, the available knowledge on the influence of geometrical, hydraulic, and wood-related parameters on LW clogging probabilities is processed in a generalized form. Based on the experimental modeling results a practice-oriented guideline that supports the assessment of flood risk induced by LW clogging, is presented. In this context, two specific local structural protection measures at the bridge, aiming for a significant decrease of the entrapment probabilities, are illustrated: (i) a deflecting baffle installed on the upstream face of the bridge and (ii) a channel constriction leading to a change in flow state and a corresponding increase of the flow velocities and the freeboard at the bridge cross section. The presented guideline is based on a three-step approach: estimation of LW potential, entrainment, and transport; clogging scenario at the bridge; and the impact on channel and floodplain hydraulics. For a specific bridge susceptible to potential clogging caused by LW entrapment, it allows for a qualitative evaluation of potential LW entrainment in the upstream river segments, its transport toward the

  17. Proposal for implementation risk management according ABNT NBR ISO 31000 standard applied to internal audit process of Integrated Management System of IPEN

    Energy Technology Data Exchange (ETDEWEB)

    Scapin Junior, Wilson S.; Salvetti, Tereza C.; Longo, Guilherme C., E-mail: wsscapin@ipen.br, E-mail: salvetti@ipen.br, E-mail: glongo@ipen.br [Instituto de Pesquisas Energeticas e Nucleares (IPEN/CNEN-SP), Sao Paulo, SP (Brazil)

    2015-07-01

    The paper objective is to establish a risk management methodology applied to internal audits processes of IPEN Integrated Management System (IMS). In continuous seeking of updating methodologies to assist effective management based on the constant changes in the organizational world, and the development of management tools used for decision making, risk management demonstrates trends to be a new tool with high efficiency. This trend is accentuated by the fact that risk management is being incorporated into the new revision of quality management standard ISO 9001, estimated conclusion in November 2015. The identification, evaluation and treatment of risks are present in eleven items of its ten requirements at new revision. From the conclusion of the review, all organizations certified by that standard should make the necessary changes in their systems to meet the new requirements. This proposal will provide anticipate the changes that will occur in the management system of IPEN in accordance with this new revision. With the character of a pilot program to implement the organizational culture change in relationship to new concepts related to risks and implementation of risk management all other system processes that will be affected by the new revision of this standard. The methodology used for this paper is supported by the standards ABNT NBR ISO 31000. (author)

  18. Rethinking the Risk Management Process for Genetically Engineered Crop Varieties in Small-scale, Traditionally Based Agriculture

    Directory of Open Access Journals (Sweden)

    David A. Cleveland

    2005-06-01

    Full Text Available Proponents of genetically engineered (GE crops often assume that the risk management used in the industrial world is appropriate for small-scale, traditionally based agriculture in the Third World. Opponents of GE crops often assume that risk management is inappropriate for the Third World, because it is inherently biased in favor of the industrial world. We examine both of these assumptions, by rethinking risk management for GE crops and transgenes, using the example of maize transgene flow from the U.S. to Mexico. Risk management for the Third World is a necessary first step of a broader benefit-cost analysis of GE crops, which would include comparisons with existing varieties and with alternative varieties such as transgenic farmer varieties and organic varieties. Our goal is to use existing information on GE crops and on the social and biological characteristics of Third World agriculture to identify key processes that need to be considered in risk management, and the additional research required to adequately understand them. The four main steps in risk management are hazard identification, risk analysis (exposure x harm, risk evaluation, and risk treatment. We use informal event trees to identify possible exposure to GE crops and transgenes, and resulting biological and social harm; give examples of farmers' ability to evaluate social harm; and discuss the possibilities for risk treatment. We conclude that risk management is relevant for Third World agriculture, but needs to be based on the unique biological and social characteristics of small-scale, traditionally based agriculture, including the knowledge and values of Third World farmers and consumers.

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

    CERN Document Server

    Pandian, C Ravindranath

    2006-01-01

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

  20. Risk Management Issues - An Aerospace Perspective

    Science.gov (United States)

    Perera, Jeevan S.

    2011-01-01

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

  1. Supporting the risk management process with land information : a case study of Australia

    NARCIS (Netherlands)

    Potts, Katie Elizabeth; Rajabifard, Abbas; Bennett, R.M.

    2017-01-01

    It is frequently argued that, at the parcel level, stakeholders are capable of and well supported in managing their land-related risks. Yet, evidence from the contemporary Australian context suggests otherwise: numerous large-scale disaster events have revealed that citizens are ill-prepared to

  2. The diagnostic-therapeutic process. Workflow analysis and risk management with IT tools.

    Science.gov (United States)

    Iadanza, E; Gaudio, F; Marini, F

    2013-01-01

    The aim of this work is to study the impact of an Information Technology (IT) tool on clinical risk management and Adverse Drug Events prevention in patient care. In this study we propose the workflow analysis and the application of Failure Modes Effects and Criticality Analysis (FMECA) as potential tools to assess the effectiveness of a specific IT tool in mitigating clinical risk. The study is made up of two different parts: the first one shows the decomposition and representation of the workflow of hospital departments using standardized tools from Project Management. The next phase shows the application of FMECA to the workflow, in order to identify critical issues and evaluate the risk reduction obtained using a specific IT tool, compared to the use of current resources.

  3. Process evaluation of a tailored intervention programme of cardiovascular risk management in general practices.

    Science.gov (United States)

    Huntink, E; Wensing, M; Timmers, I M; van Lieshout, J

    2016-12-15

    A tailored implementation programme to improve cardiovascular risk management (CVRM) in general practice had little impact on outcomes. The questions in this process evaluation concerned (1) impact on counselling skills and CVRM knowledge of practice nurses, (2) their use of the various components of the intervention programme and adoption of recommended practices and (3) patients' perceptions of counselling for CVRM. A mixed-methods process evaluation was conducted. We assessed practice nurses' motivational interviewing skills on audio-taped consultations using Motivational Interviewing Treatment Integrity (MITI). They also completed a clinical knowledge test. Both practice nurses and patients reported on their experiences in a written questionnaire and interviews. A multilevel regression analysis and an independent sample t test were used to examine motivational interviewing skills and CVRM knowledge. Framework analysis was applied to analyse qualitative data. Data from 34 general practices were available, 19 intervention practices and 14 control practices. No improvements were measured on motivational interviewing skills in both groups. There appeared to be better knowledge of CVRM in the control group. On average half of the practice nurses indicated that they adopted the recommended interventions, but stated that they did not necessarily record this in patients' medical files. The tailored programme was perceived as too large. Time, follow-up support and reminders were felt to be lacking. About 20% of patients in the intervention group visited the general practice during the intervention period, yet only a small number of these patients were referred to recommended options. The tailored programme was only partly used by practice nurses and had little impact on either their clinical knowledge and communication skills or on patient reported healthcare. If the assumed logical model of change is valid, a more intensive programme is needed to have an impact on CVRM

  4. Multi-faceted methodology of the risk analysis and management referring to the IT system supporting the processing of documents at different levels of sensitivity

    OpenAIRE

    Kiedrowicz Maciej

    2017-01-01

    This article outlines the methodology of the IT system risk analysis and management, including various categories of risk factors significant from the point of view of the sensitive data processing and completeness of the procedure for determining the IT system risk level. The presented methodology is divided into the IT system risk analysis and the risk management method. The IT system risk level assessed by the risk analysis method described in this article constitutes an input value for th...

  5. Analysis of the risk management decisionmaking processes and the decision support systems in the wildland fire agencies

    Science.gov (United States)

    Patrick Withen

    2007-01-01

    This paper offers an analysis of the strengths, weaknesses, opportunities, and threats in the risk management process, decision support systems (DSSs), and other types of decisionmaking, including recognition primed decisionmaking, bricolage with the goal of improving DSSs and decisionmaking. DSSs may be thought of as any technology or knowledge that is used as an aid...

  6. Supporting the risk management process with land information: a case study of Australia.

    Science.gov (United States)

    Potts, Katie Elizabeth; Rajabifard, Abbas; Bennett, Rohan Mark

    2017-04-01

    It is frequently argued that, at the parcel level, stakeholders are capable of and well supported in managing their land-related risks. Yet, evidence from the contemporary Australian context suggests otherwise: numerous large-scale disaster events have revealed that citizens are ill-prepared to respond and recover adequately. This paper begins with the premise that information, specifically land information, could better support parcel-level risk preparation, mitigation, response, and recovery. State land administration organisations in Australia primarily maintain this information and make it accessible. Land information is used regularly across all levels of government to support risk management activities; however, such application has not always occurred at the parcel and citizen level. Via a case study approach, this paper initially explores the land information available in Australia to stakeholders interested in parcel-level detail, and then goes on to propose how the utilisation of parcel-level land information could serve to enhance risk management practices. © 2017 The Author(s). Disasters © Overseas Development Institute, 2017.

  7. 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.

  8. TERMINOLOGY IN PROCESS MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Igor G. Fedorov

    2013-01-01

    Full Text Available We can be mistaken to formulate basic concepts of process management, and we are at risk to be on the wrong way solving the focused problems – instead of process management we could do automatization, instead of process system we could introduce function-oriented system. Without having a clear idea of the model we have to execute, we can plan this model as an analytical one and do not include all the necessary tools for management on the stage of planning. The article is targeted for the analysts who have skills in analytical modeling of business processes and would like to make a step forward to the implementation of these models. In order to become professionals in this field it is necessary to learn the terminology, first of all. 

  9. Knowledge management: an innovative risk management strategy.

    Science.gov (United States)

    Zipperer, Lorri; Amori, Geri

    2011-01-01

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

  10. 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).

  11. 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.

  12. Managing Operational Risk Related to Microfinance Lending Process using Fuzzy Inference System based on the FMEA Method: Moroccan Case Study

    Directory of Open Access Journals (Sweden)

    Alaoui Youssef Lamrani

    2017-12-01

    Full Text Available Managing operational risk efficiently is a critical factor of microfinance institutions (MFIs to get a financial and social return. The purpose of this paper is to identify, assess and prioritize the root causes of failure within the microfinance lending process (MLP especially in Moroccan microfinance institutions. Considering the limitation of traditional failure mode and effect analysis (FMEA method in assessing and classifying risks, the methodology adopted in this study focuses on developing a fuzzy logic inference system (FLIS based on (FMEA. This approach can take into account the subjectivity of risk indicators and the insufficiency of statistical data. The results show that the Moroccan MFIs need to focus more on customer relationship management and give more importance to their staff training, to clients screening as well as to their business analysis.

  13. 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.

  14. 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.

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

    Science.gov (United States)

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

    2017-04-18

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

  16. 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

  17. 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.

  18. 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.

  19. 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?”

  20. Exchange Risk Management Policy

    CERN Document Server

    2005-01-01

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

  1. Managing consumer credit risk

    OpenAIRE

    Peter Burns; Anne Stanley

    2001-01-01

    On July 31, 2001, the Payment Cards Center of the Federal Reserve Bank of Philadelphia hosted a workshop that examined current credit risk management practices in the consumer credit industry. The session was led by Jeffrey Bower, senior manager in KPMG Consulting’s financial services practice. Bower discussed "best practices" in the credit risk management field, including credit scoring, loss forecasting, and portfolio management. ; In addition, he provided an overview of developing new meth...

  2. A dynamic process of health risk assessment for business continuity management during the World Exposition Shanghai, China, 2010.

    Science.gov (United States)

    Sun, Xiaodong; Keim, Mark; Dong, Chen; Mahany, Mollie; Guo, Xiang

    2014-01-01

    Reports of health issues related to mass gatherings around the world have indicated a potential for public health and medical emergencies to occur on a scale that could place a significant impact on business continuity for national and international organisations. This paper describes a risk assessment process for business continuity management that was performed as part of the planning efforts related to the World Expo 2010 Shanghai China (Expo), the world's largest mass gathering to date. Altogether, 73 million visitors attended the Expo, generating over US$2bn of revenue. During 2008 to 2010, the Shanghai Municipal Center for Disease Control and Prevention performed a dynamic series of four disaster risk assessments before and during the Expo. The purpose of this assessment process was to identify, analyse and evaluate risks for public health security during different stages of the Expo. This paper describes an overview of the novel approach for this multiple and dynamic process of assessment of health security risk for ensuring business continuity.

  3. Identifying and Managing Risk.

    Science.gov (United States)

    Abraham, Janice M.

    1999-01-01

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

  4. Enterprise Risk Management Models

    CERN Document Server

    Olson, David L

    2010-01-01

    Enterprise risk management has always been important. However, the events of the 21st Century have made it even more critical. The top level of business management became suspect after scandals at ENRON, WorldCom, and other business entities. Financially, many firms experienced difficulties from bubbles. The problems of interacting cultures demonstrated risk from terrorism as well, with numerous terrorist attacks, to include 9/11 in the U.S. Risks can arise in many facets of business. Businesses in fact exist to cope with risk in their area of specialization. Financial risk management has focu

  5. Selected Tools for Risk Analysis in Logistics Processes

    Science.gov (United States)

    Kulińska, Ewa

    2012-03-01

    As each organization aims at managing effective logistics processes, risk factors can and should be controlled through proper system of risk management. Implementation of complex approach to risk management allows for the following: - evaluation of significant risk groups associated with logistics processes implementation, - composition of integrated strategies of risk management, - composition of tools for risk analysis in logistics processes.

  6. The integration of scientific knowledge on hydrogeomorphological processes in fluvial risk management strategies through the "Freedom space for rivers" concept

    Science.gov (United States)

    Massé, Simon; Buffin-Bélanger, Thomas; Biron, Pascale; Ruiz, Julie

    2017-04-01

    Extensive knowledge and tools developed by hydrogeomorphologists led to the development of new approaches for fluvial hazards mapping that recognize the diversity of river systems and consider the temporal morphodynamic adjustments. Hydrogeomorphological mapping can be integrated into a management approach by considering distinct processes with specific regulation and management practices. The Freedom space for rivers (FSR) concept promotes the integration of multiple processes into a single space by combining the flooding and the mobility spaces as well as the riparian wetlands. Flooding spaces are delimited by a combination of methods, calling for the use of LiDAR elevation models and geomorphological observations related to past flood events. Mobility spaces are defined by the analysis of historical river positions and the interpretation of landforms associated with morphodynamics. In the FSR approach, fluvial processes can naturally operate, thus limiting risk for citizens and infrastructure, while providing a series of ecological services and socioeconomic benefits. Many methodological and institutional challenges arise for the applicability of the FSR concept in the management of rivers. To investigate these challenges, working groups bringing together different water stakeholders were created in collaboration with local watershed organizations and municipal authorities in three contrasting river environments in Québec (Canada). Stakeholders' engagement help identify local concerns regarding FSR management, collectively set up implementation strategies and transfer knowledge gained on river dynamics and fluvial hazards. The collaborative research approach aims to better understand challenges and opportunities for FSR management concepts. Farmers' reluctance to limit their interventions and practices along watercourses, a lack of political will at local level, the absence of government incentives to support local FSR actions, and the institutional challenge

  7. RISKS IN INVESTMENT AND MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Ms. Tatiana A. Ykovleva

    2016-12-01

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

  8. TRManager – Technical Risk Manager

    Directory of Open Access Journals (Sweden)

    Mark A. Gregory

    2009-06-01

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

  9. Organizational Risk and Opportunity Management: Concepts and Processes for NASA's Consideration

    Science.gov (United States)

    Dezfuli, Homayoon; Benjamin, Allan; Everett, Christopher

    2016-01-01

    The focus of this report is on the development of a framework and overall approach that serves the interests of nonprofit and Government organizations like NASA that focus on developing and/or applying new technology (henceforth referred to as organizations like NASA). These interests tend to place emphasis on performing services and achieving scientific and technical gains more than on achieving financial investment goals, which is the province of commercial enterprises. In addition, the objectives of organizations like NASA extend to institutional development and maintenance, financial health, legal and reputational protection, education and partnerships, and mandated milestone achievements. This report discusses the philosophical underpinnings of OROM for organizations like NASA, the integration of OROM with existing management processes, and the nature of the activities that are performed to implement OROM within this context. The proposed framework includes a set of core principles that would be essential to any successful OROM approach, along with some features that are currently under development and are continuing to evolve. The report is intended to foster discussion of OROM at NASA in order to reach a consensus on the optimum approach for the agency.

  10. Perspectives: Intellectual Risk Management

    Science.gov (United States)

    Hall, James C.

    2013-01-01

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

  11. Risk Management and Simulation

    DEFF Research Database (Denmark)

    Skovmand, David

    2014-01-01

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

  12. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

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

  13. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

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

  14. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

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

  15. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

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

  16. Issues Management Process Course # 38401

    Energy Technology Data Exchange (ETDEWEB)

    Binion, Ula Marie [Los Alamos National Lab. (LANL), Los Alamos, NM (United States)

    2018-02-01

    The purpose of this training it to advise Issues Management Coordinators (IMCs) on the revised Contractor Assurance System (CAS) Issues Management (IM) process. Terminal Objectives: Understand the Laboratory’s IM process; Understand your role in the Laboratory’s IM process. Learning Objectives: Describe the IM process within the context of the CAS; Describe the importance of implementing an institutional IM process at LANL; Describe the process flow for the Laboratory’s IM process; Apply the definition of an issue; Use available resources to determine initial screening risk levels for issues; Describe the required major process steps for each risk level; Describe the personnel responsibilities for IM process implementation; Access available resources to support IM process implementation.

  17. Disaster risk management in prospect mining area Blitar district, East Java, using microtremor analysis and ANP (analytical network processing) approach

    Science.gov (United States)

    Parwatiningtyas, Diyan; Ambarsari, Erlin Windia; Marlina, Dwi; Wiratomo, Yogi

    2014-03-01

    Indonesia has a wealth of natural assets is so large to be managed and utilized, either from its own local government and local communities, especially in the mining sector. However, mining activities can change the state of the surface layer of the earth that have a high impact disaster risk. This could threaten the safety and disrupt human life, environmental damage, loss of property, and the psychological impact, sulking to the rule of law no 24 of 2007. That's why we strive to manage and minimize the risk of mine disasters in the region, how to use the method of calculation of Amplification Factor (AF) from the analysis based microtremor sulking Kanai and Nakamura, and decision systems were tested by analysis of ANP. Based on the amplification factor and Analytical Network Processing (ANP) obtained, some points showed instability in the surface layer of a mining area include the site of the TP-7, TP-8, TP-9, TP-10, (Birowo2). If in terms of structure, location indicated unstable due to have a sloping surface layer, resulting in the occurrence of landslides and earthquake risk is high. In the meantime, other areas of the mine site can be said to be a stable area.

  18. Disaster risk management in prospect mining area Blitar district, East Java, using microtremor analysis and ANP (analytical network processing) approach

    Energy Technology Data Exchange (ETDEWEB)

    Parwatiningtyas, Diyan, E-mail: diane.tyas@gmail.com, E-mail: erlinunindra@gmail.com; Ambarsari, Erlin Windia, E-mail: diane.tyas@gmail.com, E-mail: erlinunindra@gmail.com; Marlina, Dwi, E-mail: diane.tyas@gmail.com, E-mail: erlinunindra@gmail.com; Wiratomo, Yogi, E-mail: diane.tyas@gmail.com, E-mail: erlinunindra@gmail.com [Department of Physics, Faculty of Engineering, Mathematics and Natural Sciences, Indraprasta PGRI University, Nangka Street No. 58C Tanjung Barat, South Jakarta (Indonesia)

    2014-03-24

    Indonesia has a wealth of natural assets is so large to be managed and utilized, either from its own local government and local communities, especially in the mining sector. However, mining activities can change the state of the surface layer of the earth that have a high impact disaster risk. This could threaten the safety and disrupt human life, environmental damage, loss of property, and the psychological impact, sulking to the rule of law no 24 of 2007. That's why we strive to manage and minimize the risk of mine disasters in the region, how to use the method of calculation of Amplification Factor (AF) from the analysis based microtremor sulking Kanai and Nakamura, and decision systems were tested by analysis of ANP. Based on the amplification factor and Analytical Network Processing (ANP) obtained, some points showed instability in the surface layer of a mining area include the site of the TP-7, TP-8, TP-9, TP-10, (Birowo2). If in terms of structure, location indicated unstable due to have a sloping surface layer, resulting in the occurrence of landslides and earthquake risk is high. In the meantime, other areas of the mine site can be said to be a stable area.

  19. Individual Property Risk Management

    Directory of Open Access Journals (Sweden)

    Michael S. Finke

    2010-01-01

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

  20. Risk Management for Food Allergy

    DEFF Research Database (Denmark)

    Risk Management for Food Allergy is developed by a team of scientists and industry professionals who understand the importance of allergen risk assessment and presents practical, real-world guidance for food manufacturers. With more than 12 million Americans suffering from food allergies and little...... the epidemiology of food allergy, assessing allergen thresholds and risk, specifics of gluten management and celiac disease, and much more. The practical advice on factory risk management, catering industry practices, allergen detection and measurement and regulatory controls is key for food industry professionals...... indication of what is causing that number to continue to grow, food producers, packagers and distributors need to appropriately process, label and deliver their products to ensure the safety of customers with allergic conditions. By identifying risk factors during processing as well as determining...

  1. 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.

  2. Flood risk management

    OpenAIRE

    Blanksby, J.R.

    2012-01-01

    The EU Flood Directive requires member states to develop flood risk management plans by 22nd December 2015. Along the way, member states are required to carry out preliminary flood risk assessments by 22nd December 2011, and detailed flood risk and hazard maps by 22nd December 2013. Following these initial submissions, the assessments, maps and plans will be reviewed and updated in six yearly cycles. Many countries have already carried out preliminary assessments and produced flood risk and h...

  3. Individual Property Risk Management

    OpenAIRE

    Michael S. Finke; Eric Belasco; Sandra J. Huston

    2010-01-01

    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 exce...

  4. Project management process.

    Science.gov (United States)

    2007-03-01

    This course provides INDOT staff with foundational knowledge and skills in project management principles and methodologies. INDOTs project management processes provide the tools for interdisciplinary teams to efficiently and effectively deliver pr...

  5. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

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

  6. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

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

  7. MANAGING INTERACTING SOFTWARE PROJECT RISKS

    OpenAIRE

    Dey, Pradip Peter; Khan, Muzibul; Amin, Mohammad; Sinha, Bhaskar Raj; Badkoobehi, Hassan; Jawad, Shatha; Any, Laith Al

    2016-01-01

    Managing risks in a software project can be challenging. There are many risk categories including communication risks, project planning risks, technical risks, budget risks, scheduling risks, legal risks, ethical risks, operational risks, security risks, and personnel risks that require timely attention. Potential risks should be identified, analyzed and evaluated. Appropriate strategies should be developed for managing imminent risks in a timely manner. This paper advocates a strategy that a...

  8. Do Service Users with Intellectual Disabilities Want to Be Involved in the Risk Management Process? A Thematic Analysis

    Science.gov (United States)

    Kilcommons, Aoiffe M.; Withers, Paul; Moreno-Lopez, Agueda

    2012-01-01

    Background: Involving ID service users in risk decision making necessitates consideration of an individual's ability to assess the implications and associated risks and thus make an informed choice. This calls for research on service users' awareness and understanding of risk management (RM). Method: Thirteen people in a residential ID service who…

  9. Development of funding project risk management tools.

    Science.gov (United States)

    2013-11-01

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

  10. Risk management in information technology projects

    OpenAIRE

    2012-01-01

    M.Ing. Information Technology (IT) projects are typically accompanied by a wide variety of complex risks. The rapid rate at which technology is currently changing requires the use of updated processes for project risk management in the IT industry. This paper investigates the active management of risk by focusing on the causes of such risk and developing indicators to track project risk throughout all project phases. The current research focuses on Project Risk Management as described in t...

  11. Risk Management Plan Rule

    Science.gov (United States)

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

  12. A multifaceted quality improvement intervention for CVD risk management in Australian primary healthcare: a protocol for a process evaluation.

    Science.gov (United States)

    Patel, Bindu; Patel, Anushka; Jan, Stephen; Usherwood, Tim; Harris, Mark; Panaretto, Katie; Zwar, Nicholas; Redfern, Julie; Jansen, Jesse; Doust, Jenny; Peiris, David

    2014-12-17

    Cardiovascular disease (CVD) is the leading cause of death and disability worldwide. Despite the widespread availability of evidence-based clinical guidelines and validated risk predication equations for prevention and management of CVD, their translation into routine practice is limited. We developed a multifaceted quality improvement intervention for CVD risk management which incorporates electronic decision support, patient risk communication tools, computerised audit and feedback tools, and monthly, peer-ranked performance feedback via a web portal. The intervention was implemented in a cluster randomised controlled trial in 60 primary healthcare services in Australia. Overall, there were improvements in risk factor recording and in prescribing of recommended treatments among under-treated individuals, but it is unclear how this intervention was used in practice and what factors promoted or hindered its use. This information is necessary to optimise intervention impact and maximally implement it in a post-trial context. In this study protocol, we outline our methods to conduct a theory-based, process evaluation of the intervention. Our aims are to understand how, why, and for whom the intervention produced the observed outcomes and to develop effective strategies for translation and dissemination. We will conduct four discrete but inter-related studies taking a mixed methods approach. Our quantitative studies will examine (1) the longer term effectiveness of the intervention post-trial, (2) patient and health service level correlates with trial outcomes, and (3) the health economic impact of implementing the intervention at scale. The qualitative studies will (1) identify healthcare provider perspectives on implementation barriers and enablers and (2) use video ethnography and patient semi-structured interviews to understand how cardiovascular risk is communicated in the doctor/patient interaction both with and without the use of intervention. We will also

  13. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

    . The underlying logic is built on the principles of financial economics where benefits derive from reducing bankruptcy costs and increasing future cash inflows. This provides a stringent framework for analyzing the effect of different risk management actions and behaviors in effective risk-taking organizations...

  14. Today's School Risk Manager

    Science.gov (United States)

    Johnson, Cheryl P.; Levering, Steve

    2009-01-01

    School districts are held accountable not only for the monies that contribute to the education system but also for mitigating any issues that threaten student learning. Some school districts are fortunate to have professional risk managers on staff who can identify and control the many risks that are unique to school systems. Most schools,…

  15. Allergen risk: how to manage it? What food industries could make and which methods can be used to control the products and the processes.

    Directory of Open Access Journals (Sweden)

    N. Iseppi

    2012-02-01

    Full Text Available For food companies manage the risk of allergens in their processes has become increasingly important, both to fulfill the laws requirements and for all the criteria of customers and consumers more aware and sensitive about this matter. The experience of this practical contribution is related to meat processing companies such as producers of meat preparations and meat products (products of salumeria. The goal is to explain what are the approaches used to manage the risk, what are the pratical and analytical methods designed to control and verify the right management related to cross contamination, and provide some data on the checks carried out in self-control plans.

  16. Issue Management Risk Ranking Systems

    Energy Technology Data Exchange (ETDEWEB)

    Novack, Steven David; Marshall, Frances Mc Clellan; Stromberg, Howard Merion; Grant, Gary Michael

    1999-06-01

    Thousands of safety issues have been collected on-line at the Idaho National Engineering and Environmental Laboratory (INEEL) as part of the Issue Management Plan. However, there has been no established approach to prioritize collected and future issues. The authors developed a methodology, based on hazards assessment, to identify and risk rank over 5000 safety issues collected at INEEL. This approach required that it was easily applied and understandable for site adaptation and commensurate with the Integrated Safety Plan. High-risk issues were investigated and mitigative/preventive measures were suggested and ranked based on a cost-benefit scheme to provide risk-informed safety measures. This methodology was consistent with other integrated safety management goals and tasks providing a site-wide risk informed decision tool to reduce hazardous conditions and focus resources on high-risk safety issues. As part of the issue management plan, this methodology was incorporated at the issue collection level and training was provided to management to better familiarize decision-makers with concepts of safety and risk. This prioritization methodology and issue dissemination procedure will be discussed. Results of issue prioritization and training efforts will be summarized. Difficulties and advantages of the process will be reported. Development and incorporation of this process into INEELs lessons learned reporting and the site-wide integrated safety management program will be shown with an emphasis on establishing self reliance and ownership of safety issues.

  17. Software And Systems Engineering Risk Management

    Science.gov (United States)

    2010-04-01

    RSKM 2004 COSO Enterprise RSKM Framework 2006 ISO/IEC 16085 Risk Management Process 2008 ISO/IEC 12207 Software Lifecycle Processes 2009 ISO/IEC...of risk management plans and frameworks will need to take into account the varying needs of a specific organization, its particular objectives...dynamic, iterative and responsive to change • facilitates continual improvement of the organization12 RSKM Framework 13 Risk management process

  18. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

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

  19. What can water utilities do to improve risk management within their business functions? An improved tool and application of process benchmarking.

    Science.gov (United States)

    MacGillivray, Brian H; Pollard, Simon J T

    2008-11-01

    We present a model for benchmarking risk analysis and risk based decision making practice within organisations. It draws on behavioural and normative risk research, the principles of capability maturity modelling and our empirical observations. It codifies the processes of risk analysis and risk based decision making within a framework that distinguishes between different levels of maturity. Application of the model is detailed within the selected business functions of a water and wastewater utility. Observed risk analysis and risk based decision making practices are discussed, together with their maturity of implementation. The findings provide academics, utility professionals, and regulators a deeper understanding of the practical and theoretical underpinnings of risk management, and how distinctions can be made between organisational capabilities in this essential business process.

  20. Educational risks management

    Directory of Open Access Journals (Sweden)

    T. S. Il'ina

    2016-01-01

    Full Text Available Constant development of modern society is setting higher requirements to specialist training. In this connection, riskmanagement concepts need to be developed in order to take important desicions for educational establishment management. To create a qualitative instrument for managing educational risks quantitative techniques for risks assessment in higher education are considered in the paper. Risk assessment has been made by experts. The data received has been used for minimizing educational risks in managerial decision making. Determining an expert panel absence of personal interest in the matter has been taken into account to increase the quality of decision-making. Expert grouping has been based on the reasonableness evaluation of the issue in question. Then experts have assessed the educational risks on the proposed scale. Overall expert assessments have been calculated using mathematical statistics and dimension of agreement has been determined. For this purpose, the average rank and the average rank deviation from the risk universe have been determined and a multivariable rank correlation coefficient has been calculated. The given coefficient shows the dimension of the expert agreement. And the importance of the multivariable rank correlation coefficient has been assessed for evaluating the quality of the decision made and making conclusions on the data obtained. As a result, the most relevant risks in education have been identified and adequate measures have been taken to minimize those risks.

  1. Risk management: Time for innovative approaches

    Science.gov (United States)

    Rao, Venkateswara R.

    1995-05-01

    Risk management practices under the current environmental regulations is a long, complex process that considers scientific, technologic, and management factors to develop various regulatory standards and pollution control measures. Using the mandatory enforcement approach, sometimes referred to as “command-and-control”, a set of preliminary environmental goals, such as better air and water qualities, were achieved. However, the information-intensive nature of the risk management process and the lack of flexibility in conventional regulatory methods to changing economic and technologic realities of the decade has created interest among risk managers to examine some innovative management approaches. Above all, environmental problems of a global scale require novel management methods while striving to achieve the desired environmental goals. As the principal analytical tool in risk management, quantitative risk assessment exerts considerable influence on the risk management process. Therefore, advances in risk management are closely associated with scientific developments that enhance the risk assessment process, particularly those efforts aimed at improving human exposure and toxicity assessments. Market incentives, information dissemination, creative enforcement practices, and interagency and intergovernmental interactions were identified as the key elements of innovative environmental risk management practices. This paper will present an overview of the emerging innovative risk management approaches.

  2. Identity Management Processes Automation

    Directory of Open Access Journals (Sweden)

    A. Y. Lavrukhin

    2010-03-01

    Full Text Available Implementation of identity management systems consists of two main parts, consulting and automation. The consulting part includes development of a role model and identity management processes description. The automation part is based on the results of consulting part. This article describes the most important aspects of IdM implementation.

  3. The Management Object in Risk Management Approaches

    DEFF Research Database (Denmark)

    Christiansen, Ulrik

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

  4. "Risk management" is a verb.

    Science.gov (United States)

    Sheppard, Faye

    2018-01-01

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

  5. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

    outcomes. This topic is timely and of interest both to the academic community as well as to practicing managers, executives, and directors. The volume focuses on contemporary risk leadership issues based on recent research insights but avoids excessive technical language and mathematical formulas. The book...

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

    African Journals Online (AJOL)

    Ngulup

    Keywords: Records management; risk management; business processes, Moi University. 1. Introduction .... risks (risks to core business activities, such as inadequate human resources, physical damage to assets or .... in an organisation has, in the last few years become critical not only for historical purposes but also, and ...

  7. Improved safety culture and labor-management relations attributed to changing at-risk behavior process at Union Pacific.

    Science.gov (United States)

    2009-09-01

    Changing At-Risk Behavior (CAB) is a safety process that is being conducted at Union Pacifics San Antonio Service Unit (SASU) with the aim of improving road and yard safety. CAB is an example of a proactive safety risk-reduction method called Clea...

  8. Study of International Standards of Risk Management

    Directory of Open Access Journals (Sweden)

    Dykan Volodymyr L.

    2014-01-01

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

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

    Science.gov (United States)

    Carroll, Roberta

    2016-01-01

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

  10. 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.

  11. Managing Software Process Evolution

    DEFF Research Database (Denmark)

    This book focuses on the design, development, management, governance and application of evolving software processes that are aligned with changing business objectives, such as expansion to new domains or shifting to global production. In the context of an evolving business world, it examines...... the complete software process lifecycle, from the initial definition of a product to its systematic improvement. In doing so, it addresses difficult problems, such as how to implement processes in highly regulated domains or where to find a suitable notation system for documenting processes, and provides...... essential insights and tips to help readers manage process evolutions. And last but not least, it provides a wealth of examples and cases on how to deal with software evolution in practice. Reflecting these topics, the book is divided into three parts. Part 1 focuses on software business transformation...

  12. Managing Debris Flow Risks

    OpenAIRE

    Zimmermann, Markus N.

    2004-01-01

    Debris flows represent a widespread threat to villages and small towns in the Swiss Alps. For many centuries people “managed” such risks by trying to avoid hazardous areas. However, major debris flow and flood events in the last 25 years have revealed that the degree of freedom to engage in this type of risk management has substantially decreased. This became especially evident during the 1999 disasters in a number of places in Switzerland. The winter of that year was unusually wet. In Februa...

  13. 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.

  14. 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

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

    Science.gov (United States)

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

    2010-01-01

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

  16. Effective risk management SOGO life cycle management

    OpenAIRE

    Ali, Mohamed Omar

    2012-01-01

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

  17. Effective risk management SOGO life cycle management

    OpenAIRE

    Ali, Mohamed Omar

    2012-01-01

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

  18. Cyber Ricochet: Risk Management and Cyberspace Operations

    Science.gov (United States)

    2012-07-01

    faced with constant cyber threats.”5 The Department of Defense (DoD) defines risk management as “the process of identifying, assessing, and...Cyber Ricochet: Risk Management and Cyberspace Operations Benjamin LeitzeL Cyber attacks can do significant harm to a country’s infrastructure and...members noted that “countering cyber threats is inherently all about risk management , as a network will always have cyber vulnerabilities and will be

  19. Acrylamide: considerations for risk management.

    Science.gov (United States)

    Slayne, Martin A; Lineback, David R

    2005-01-01

    The presence of acrylamide in many carbohydrate-rich foods is due to its formation during conventional heating and preparation methods. Although acrylamide is established to be a toxic substance, the implications to public health from the amounts found in food are not clear. A better scientific understanding is required to help determine whether, and to what extent, formal risk management action might be necessary. Since acrylamide in food was highlighted in 2002, numerous investigations and initiatives have been developed, including international collaborations across governments, industry, research organizations, and consumer representations. The newly generated information is being used to help the overall understanding of this issue. In particular, new information on health aspects will be important to update the scientific risk assessment. The basis for decisions on possible risk management measures would then be clearer. If future risk assessment concludes that the amounts of acrylamide in food can pose a health threat, then options for risk management will need to be considered, such as limits, guide levels, codes of practice, guidance information, and advice to the food and catering industries and to consumers. In the meantime, it is possible to benefit from progress already made on how acrylamide is formed in food and on ways to lower the amounts present. Raising awareness to the approaches that can reduce the presence of acrylamide in food should be encouraged. Where feasible, such approaches can be assessed for practical use in production, processing, and preparation of the relevant food products.

  20. Risk management innovations in Uzbekistan banks

    Directory of Open Access Journals (Sweden)

    Yuldashev Farhodbek Abdumutalibovich

    2012-06-01

    Full Text Available The article gives a brief overview of the current state of e-banking in Uzbekistan and the classification of banking risks from the innovation point of view. Also, the author takes operational risk as a subject to study. Some solutions of elimination or minimization of operational risk are lies in applying model of process chain model in operational risk management as part of an integrated management system in banks.

  1. Effects of stochastic interest rates in decision making under risk: A Markov decision process model for forest management

    Science.gov (United States)

    Mo Zhou; Joseph Buongiorno

    2011-01-01

    Most economic studies of forest decision making under risk assume a fixed interest rate. This paper investigated some implications of this stochastic nature of interest rates. Markov decision process (MDP) models, used previously to integrate stochastic stand growth and prices, can be extended to include variable interest rates as well. This method was applied to...

  2. Managing Research in a Risk World

    Science.gov (United States)

    Anton, W.; Havenhill, M.

    2014-01-01

    The Office of Chief Medical Officer (OCHMO) owns all human health and performance risks managed by the Human System Risk Board (HSRB). While the HSRB manages the risks, the Human Research Program (HRP) manages the research portion of the overall risk mitigation strategy for these risks. The HSRB manages risks according to a process that identifies and analyzes risks, plans risk mitigation and tracks and reviews the implementation of these strategies according to its decisions pertaining to the OCHMO risk posture. HRP manages risk research work using an architecture that describes evidence-based risks, gaps in our knowledge about characterizing or mitigating the risk, and the tasks needed to produce deliverables to fill the gaps and reduce the risk. A planning schedule reflecting expected research milestones is developed, and as deliverables and new evidence are generated, research progress is tracked via the Path to Risk Reduction (PRR) that reflects a risk's research plan for a design reference mission. HRP's risk research process closely interfaces with the HSRB risk management process. As research progresses, new deliverables and evidence are used by the HSRB in conjunction with other operational and non-research evidence to inform decisions pertaining to the likelihood and consequence of the risk and risk posture. Those decisions in turn guide forward work for research as it contributes to overall risk mitigation strategies. As HRP tracks its research work, it aligns its priorities by assessing the effectiveness of its contributions and maintaining specific core competencies that would be invaluable for future work for exploration missions.

  3. Managing Corruption Risks

    DEFF Research Database (Denmark)

    Krause Hansen, Hans

    2011-01-01

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

  4. 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.

  5. Big data based fraud risk management at Alibaba

    National Research Council Canada - National Science Library

    Chen, Jidong; Tao, Ye; Wang, Haoran; Chen, Tao

    2015-01-01

    .... This paper is to introduce the Fraud Risk Management at Alibaba under big data. Alibaba has built a fraud risk monitoring and management system based on real-time big data processing and intelligent risk models...

  6. Technology Management Process Framework

    OpenAIRE

    Yamamoto, Ikura; Pujotomo, Darminto

    2006-01-01

    The effective management of technology as a source of competitive advantage is of vital importance for many organizations. It is necessary to understand, communicate and integrate technology strategy with marketing, financial, operations and human resource strategies. This is of particular importance when one considers the increasing cost, pace and complexity of technology developments, combined with shortening product life cycles. A five process model provides a framework within which techno...

  7. Managing Climate Change Risks

    Energy Technology Data Exchange (ETDEWEB)

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

    2003-07-01

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

  8. Credit derivatives and risk management

    OpenAIRE

    Gibson, Michael S.

    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...

  9. Managing demographic risk.

    Science.gov (United States)

    Strack, Rainer; Baier, Jens; Fahlander, Anders

    2008-02-01

    In developed nations, the workforce is aging rapidly. That trend has serious implications. Companies could face severe labor shortages in a few years as workers retire, taking critical knowledge with them. Businesses may also see productivity decline among older employees, especially in physically demanding jobs. The authors, partners at Boston Consulting Group, offer managers a systematic way to assess these dual threats--capacity risk and productivity risk--at their companies. It involves studying the age distribution of their employees to see if large percentages fall within high age brackets and then projecting--by location, unit, and job category--how the distribution will change over the next 15 years. Managers must also factor in both the impact of strategic moves on personnel needs and the future supply of workers in the market. When RWE Power analyzed its trends, the company learned that in 2018 almost 80% of its workers would be over 50. What's more, in certain critical areas its labor surplus was about to become a sizable shortfall. For instance, a shortage of specialized engineers would develop in the company just as their ranks in the job market thinned and competition to hire them intensified. Reversing its downsizing course, RWE Power took steps to increase its supply of workers in those key positions. The authors show how companies that face talent gaps, as RWE Power did, can close them through training, transfers, recruitment, retention, productivity improvements, and outsourcing. They also describe measures that companies can take to keep older workers productive, including workplace accommodations, revised compensation structures, performance incentives, and targeted health care management. The key is to identify and address potential problems early. Firms that do so will gain an edge on rivals that are still relentlessly focused on reducing head count.

  10. Software Development Risk Management Model

    OpenAIRE

    Islam, Shareeful

    2011-01-01

    Risk management is an effective tool to control risks in software projects and increases the likelihood of project success. Risk management needs to be integrated as early as possible in the project. This dissertation proposes a Goal-driven Software Development Risk Management Model (GSRM) and explicitly integrates it into requirements engineering phase. This integration provides an early warning of potential problems so that both preventive and corrective actions can be undertaken to avoid t...

  11. Strategies for successful software development risk management

    Directory of Open Access Journals (Sweden)

    Marija Boban

    2003-01-01

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

  12. 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.

  13. Risk Taking Propensity and Firm Internationalisation Process

    Directory of Open Access Journals (Sweden)

    Janusz Fudaliński

    2015-06-01

    Full Text Available The aim of this paper is to present necessary characteristics of solutions related to risk management in the conditions of high environment turbulence from the perspective of international businesses.The paper is based on extensive literature review, synthesized for preeminent conceptions of risk management within operations undertaken in international environment with its proper specifics. The paper is divided into four main parts. The first section presentsthe concept of business internationalisation in general. The dilemmas related to the idea of strategic risk application are discussed in the second passage. It is followed by a discussion on the risk undertaken by firms while entering into international markets. Finally, the paper presents the methods and models of risk management in international markets. Knowledge of risk management models fosters management focused on survival and development of the firm, including its international growth. The catalogue of formulas for minimizing presence of unfavourable phenomena and events for the company should be enriched by experiences from the area of project management processes and project formulas of business management. Present research may contribute to the construction of a rational model of the risk management process, in particular in the case of adoption of a development strategy based on the internationalisation.

  14. 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.

  15. 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...

  16. 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...

  17. 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...

  18. 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.

  19. 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.

  20. Managing risks in the project pipeline.

    Science.gov (United States)

    2013-08-01

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

  1. 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...

  2. RISK MANAGEMENT USING PROJECT RECON

    Science.gov (United States)

    2016-11-28

    Risk Management Using Project Recon UNCLASSIFIED: Distribution Statement A. Approved for public release; distribution is unlimited. Bonnie Leece... Project Recon Lead What is Project Recon? • A web-based GOTS tool designed to capture, manage , and link Risks, Issues, and Opportunities in a...centralized database. • Project Recon (formerly Risk Recon) is designed to be used by all Program Management Offices, Integrated Project Teams and any

  3. 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.

  4. Risk management of precious metals

    NARCIS (Netherlands)

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

    2010-01-01

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

  5. Improving Information Security Risk Management

    Science.gov (United States)

    Singh, Anand

    2009-01-01

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

  6. Managing the risks of risk management on large fires

    Science.gov (United States)

    Donald G. MacGregor; Armando. González-Cabán

    2013-01-01

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

  7. Internal audit risk management in metropolitan municipalities

    Directory of Open Access Journals (Sweden)

    Christo Ackermann

    2016-07-01

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

  8. Risk assessment and management logistics chains

    Directory of Open Access Journals (Sweden)

    Vladimir Vikulov

    2014-03-01

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

  9. 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.

  10. Nature management risks in Siberia

    Directory of Open Access Journals (Sweden)

    Plyusnin Victor M.

    2013-01-01

    Full Text Available The natural human environment is a source not only of resources for development, but also of a variety of hazards that can hamper this development. Abrupt climate changes, enormous consumption of natural resources, and pollution of the environment inevitably lead to an increase in the probability of making wrong decisions in various aspects of nature management. The paper considers five basic types of anthropogenic impacts on the Earth's ecosystem, namely: destruction of the biosphere, intensification of natural disasters, pollution of natural environments, depletion of natural resources, and land degradation. The features of Siberian nature that create special environmental situation conditions are shown. A scheme for studying the natural-anthropogenic risk at the regional level is suggested. Economic development of new territories in Siberia, including the development of oil and gas fields, and pipelines, power lines, and roads construction, leads to increased natural hazards. Knowledge of natural processes, assessment of hazard and risk of nature management, forecast of environmental hazards development, and proposals development to reduce the natural-anthropogenic risk is required.

  11. Risk Management In SMEs

    OpenAIRE

    Agarwal, Riya

    2010-01-01

    Small and medium enterprises are the backbone for the development of the economy. They provide employment, contribute to GDP and an important source of revenue for the country especially India employing approximately 30 million people and generating 40% of the export surplus. However the SMEs have to face lot of operational risks- credit risk, liquidity risk, foreign exchange risk, interest rate risk, competition from the MNCs and foreign buyers. Despite the failure of several SMEs, those pul...

  12. Business process management governance model

    OpenAIRE

    Stenšak, Jožica

    2016-01-01

    Theoretical part of this Master’s thesis is based on business process management governance. The term business process governance refers to a high-level model defining structures, metrics, roles and responsibilities for measuring, improvement and management of company key processes. Governance is one of key activity areas for increased business process maturity provided by maturity models. Establishing Center of Excellence for business process management is a governance key concept, which ena...

  13. Journal of Flood Risk Management

    Directory of Open Access Journals (Sweden)

    Nedjeljko Frančula

    2011-06-01

    Full Text Available The Journal of Flood Risk Management is dedicated to knowledge exchange in all fields related to flood risk. It is intended to hydrologists, meteorologists, geographers, geomorphologists, conservators, civil engineers, sociologists, etc. The journal was initiated by Chartered Institution of Water and Environmental Management and Wiley-Blackwell. It has been published in four volumes per year since 2008.

  14. Corporate risk management : an overview

    NARCIS (Netherlands)

    Oosterhof, Casper M.

    2001-01-01

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

  15. [What Surgeons Should Know about Risk Management].

    Science.gov (United States)

    Strametz, R; Tannheimer, M; Rall, M

    2017-02-01

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

  16. The Uncertainties of Risk Management

    DEFF Research Database (Denmark)

    Vinnari, Eija; Skærbæk, Peter

    2014-01-01

    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....... These include uncertainties relating to legal aspects of risk management solutions, in particular the issue concerning which types of document are considered legally valid; uncertainties relating to the definition and operationalisation of risk management; and uncertainties relating to the resources available...

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

    African Journals Online (AJOL)

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

  18. Smart Grid Risk Management

    Science.gov (United States)

    Abad Lopez, Carlos Adrian

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

  19. Security Risk Management - Approaches and Methodology

    Directory of Open Access Journals (Sweden)

    Elena Ramona STROIE

    2011-01-01

    Full Text Available In today’s economic context, organizations are looking for ways to improve their business, to keep head of the competition and grow revenue. To stay competitive and consolidate their position on the market, the companies must use all the information they have and process their information for better support of their missions. For this reason managers have to take into consideration risks that can affect the organization and they have to minimize their impact on the organization. Risk management helps managers to better control the business practices and improve the business process.

  20. 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.

  1. Management of processes of electrochemical dimensional processing

    Science.gov (United States)

    Akhmetov, I. D.; Zakirova, A. R.; Sadykov, Z. B.

    2017-09-01

    In different industries a lot high-precision parts are produced from hard-processed scarce materials. Forming such details can only be acting during non-contact processing, or a minimum of effort, and doable by the use, for example, of electro-chemical processing. At the present stage of development of metal working processes are important management issues electrochemical machining and its automation. This article provides some indicators and factors of electrochemical machining process.

  2. Risks in hospitals. Assessment and Management

    Directory of Open Access Journals (Sweden)

    Bradea Ioana-Alexandra

    2014-12-01

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

  3. 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.

  4. Air Quality Management Process Cycle

    Science.gov (United States)

    Air quality management are activities a regulatory authority undertakes to protect human health and the environment from the harmful effects of air pollution. The process of managing air quality can be illustrated as a cycle of inter-related elements.

  5. METHODOLOGICAL ISSUES OF BANKING OPERATIONAL RISK MANAGEMENT

    Directory of Open Access Journals (Sweden)

    David I. Philippov

    2015-01-01

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

  6. Risk Management: An Integral Part of Operational Planning

    National Research Council Canada - National Science Library

    Latrash, Frederick

    1999-01-01

    ...) and Joint Task Force (JTF) Commander to achieve military objectives. Risk Management (RM) is a five step process that identifies hazards, assesses risks and implements controls to reduce risks to an acceptable level...

  7. Commercializing fuel cells: managing risks

    Science.gov (United States)

    Bos, Peter B.

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

  8. Risk Navigator SRM: An Applied Risk Management Tool

    Directory of Open Access Journals (Sweden)

    Dana L. K. Hoag

    2010-01-01

    Full Text Available Risk Navigator SRM is a ten-step risk management program for agricultural producers, which is based on the strategic planning process. The ten steps are designed to integrate disparate and difficult risk management concepts into a single system that is easy to use, yet still effective. With the aid of computers and the internet, producers can work through each step toward a final comprehensive plan. The website includes 25 decision tools that help producers accomplish each step and provides links to complementary educational programs, like a national agricultural risk education library, the award-winning risk management simulation program called Ag Survivor, and a recently published book that describes the program and provides additional depth and explanations. The ten-step program has been presented in over 200 workshops with over 90 percent approval by participants. The website has averaged over 1,000 unique visitors per month from 120 countries.

  9. 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...

  10. The Theme of Risk Management

    Directory of Open Access Journals (Sweden)

    Chua, D. K. H.

    2014-07-01

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

  11. Configuration Management Process Assessment Strategy

    Science.gov (United States)

    Henry, Thad

    2014-01-01

    Purpose: To propose a strategy for assessing the development and effectiveness of configuration management systems within Programs, Projects, and Design Activities performed by technical organizations and their supporting development contractors. Scope: Various entities CM Systems will be assessed dependent on Project Scope (DDT&E), Support Services and Acquisition Agreements. Approach: Model based structured against assessing organizations CM requirements including best practices maturity criteria. The model is tailored to the entity being assessed dependent on their CM system. The assessment approach provides objective feedback to Engineering and Project Management of the observed CM system maturity state versus the ideal state of the configuration management processes and outcomes(system). center dot Identifies strengths and risks versus audit gotcha's (findings/observations). center dot Used "recursively and iteratively" throughout program lifecycle at select points of need. (Typical assessments timing is Post PDR/Post CDR) center dot Ideal state criteria and maturity targets are reviewed with the assessed entity prior to an assessment (Tailoring) and is dependent on the assessed phase of the CM system. center dot Supports exit success criteria for Preliminary and Critical Design Reviews. center dot Gives a comprehensive CM system assessment which ultimately supports configuration verification activities.*

  12. Managing a Leader Transition Process

    Science.gov (United States)

    2007-02-23

    GENERAL DOUGLAS MACARTHUR MILITARY LEADERSHIP WRITING COMPETITION SUBMISSION Managing a Leader Transition Process Major Michael B. Siegl 23...DATE 23 FEB 2007 2. REPORT TYPE 3. DATES COVERED 00-00-2007 to 00-00-2007 4. TITLE AND SUBTITLE Managing a Leader Transition Process 5a...1 Managing a Leader Transition Process …one should bear in mind that there is nothing more difficult to execute, nor more dubious of

  13. Understanding Risk Management

    National Research Council Canada - National Science Library

    2005-01-01

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

  14. Managing Multiple Risk Factors

    National Research Council Canada - National Science Library

    Lollis, Charlie

    1998-01-01

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

  15. Operational risk management for a NPP

    Energy Technology Data Exchange (ETDEWEB)

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

    2013-07-01

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

  16. How to manage risk better

    CSIR Research Space (South Africa)

    Walwyn, DR

    2002-09-01

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

  17. Islamic Banks Risk Management Case

    National Research Council Canada - National Science Library

    Zaid Alrukhayyes; Hugh Grove; Jeffrey Feldman

    2014-01-01

    ... program for risk management of its banks. Due to availability of public data in 2010, Ibrahim had collected data on nine out of the eleven Kuwait banks, which comprised the sample for the subsequent stress testing of Kuwait banks...

  18. 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...

  19. Enhanced Capabilities for Subcritical Experiments (ECSE) Risk Management Plan

    Energy Technology Data Exchange (ETDEWEB)

    Urban, Mary Elizabeth [Los Alamos National Lab. (LANL), Los Alamos, NM (United States). Process Modeling and Analysis Group

    2016-05-02

    Risk is a factor, element, constraint, or course of action that introduces an uncertainty of outcome that could impact project objectives. Risk is an inherent part of all activities, whether the activity is simple and small, or large and complex. Risk management is a process that identifies, evaluates, handles, and monitors risks that have the potential to affect project success. The risk management process spans the entire project, from its initiation to its successful completion and closeout, including both technical and programmatic (non-technical) risks. This Risk Management Plan (RMP) defines the process to be used for identifying, evaluating, handling, and monitoring risks as part of the overall management of the Enhanced Capabilities for Subcritical Experiments (ECSE) ‘Project’. Given the changing nature of the project environment, risk management is essentially an ongoing and iterative process, which applies the best efforts of a knowledgeable project staff to a suite of focused and prioritized concerns. The risk management process itself must be continually applied throughout the project life cycle. This document was prepared in accordance with DOE O 413.3B, Program and Project Management for the Acquisition of Capital Assets, its associated guide for risk management DOE G 413.3-7, Risk Management Guide, and LANL ADPM AP-350-204, Risk and Opportunity Management.

  20. Legal risk management in shipping

    DEFF Research Database (Denmark)

    Siig, Kristina

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

  1. Public sector risk management: a specific model.

    Science.gov (United States)

    Lawlor, Ted

    2002-07-01

    Risk management programs for state mental health authorities are generally limited in scope and reactive in nature. Recent changes in how mental health care is provided render it necessary to redirect the risk management focus from its present institutional basis to a statewide, network-based paradigm that is integrated across public and private inpatient and community programs alike. These changes include treating an increasing number of individuals in less-secure settings and contracting for an increasing number of public mental health services with private providers. The model proposed here is closely linked to the Quality Management Process.

  2. Incident Management: Process into Practice

    Science.gov (United States)

    Isaac, Gayle; Moore, Brian

    2011-01-01

    Tornados, shootings, fires--these are emergencies that require fast action by school district personnel, but they are not the only incidents that require risk management. The authors have introduced the National Incident Management System (NIMS) and the Incident Command System (ICS) and assured that these systems can help educators plan for and…

  3. emystifying Risk Management – Business & Growth Implications

    OpenAIRE

    Bhavana Raj KONDAMUDI; Dr. SINDHU

    2013-01-01

    There is a misplaced notion that Risk Management and Business Development are at cross-roads, which is based on the premise that the Business Managers tend to compromise in certain areas of Risk Management in the interest of the business growth. But, in the larger interests of the Risk Management and the Business Growth as well, the Business Managers should be actively involved in facilitating effective Risk Management. In fact, an effective Risk Management would facilitate a healthy unders...

  4. Demystifying Risk Management – Business & Growth Implications

    OpenAIRE

    Bhavana Raj KONDAMUDI; Dr. SINDHU

    2013-01-01

    There is a misplaced notion that Risk Management and Business Development are at cross-roads, which is based on the premise that the Business Managers tend to compromise in certain areas of Risk Management in the interest of the business growth. But, in the larger interests of the Risk Management and the Business Growth as well, the Business Managers should be actively involved in facilitating effective Risk Management. In fact, an effective Risk Management would facilitate a healthy understa...

  5. Counterterrorism as Risk Management Strategies

    OpenAIRE

    Jore, Sissel Haugdal

    2012-01-01

    PhD thesis in Risk management and societal safety This thesis is based on the following papers, not available in UiS Brage due to copyright: Article 1: Jore, S. H. ; Nja, 0. (2010): Risk of Terrorism: A Scientifically Valid Phenomenon or a Wild Guess? The Impact of Different Approaches to Risk Assessment. Critical Approaches to Discourse Analysis across Disciplines. Vol 4 (2): 197 - 216. URL: http://cadaad.net/2010_volume_4_issue_2/65-56 Article 2: Jore,...

  6. Managing longevity risk

    NARCIS (Netherlands)

    Li, Hong

    2015-01-01

    The thesis first examines the choice of sample size for mortality forecasting, and then deal with the hedging of longevity risk using longevity-linked instruments. Chapter 2 proposes a Bayesian learning approach to determine the (posterior distribution of) the sample sizes for mortality forecasting

  7. Implementation of Risk Management in Malaysian Construction Industry: Case Studies

    OpenAIRE

    Hamzah Abdul-Rahman; Chen Wang; Farhanim Sheik Mohamad

    2015-01-01

    Construction industries are exposed to wide array of risks, such as financial, design, and contractual ones, which might have a direct impact on their performance toward achieving the desired objectives. Risk Management is a proactive decision-making process used to minimize and manage the risks in the most efficient and appropriate manner. However, most construction firms in Malaysia do not apply formal risk management in their projects. Thus, this study aims to identify the actual process o...

  8. Underground risk management information systems

    Energy Technology Data Exchange (ETDEWEB)

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

    2006-03-15

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

  9. NASA Human System Risk Assessment Process

    Science.gov (United States)

    Francisco, D.; Romero, E.

    2016-01-01

    NASA utilizes an evidence based system to perform risk assessments for the human system for spaceflight missions. The center of this process is the multi-disciplinary Human System Risk Board (HSRB). The HSRB is chartered from the Chief Health and Medical Officer (OCHMO) at NASA Headquarters. The HSRB reviews all human system risks via an established comprehensive risk and configuration management plan based on a project management approach. The HSRB facilitates the integration of human research (terrestrial and spaceflight), medical operations, occupational surveillance, systems engineering and many other disciplines in a comprehensive review of human system risks. The HSRB considers all factors that influence human risk. These factors include pre-mission considerations such as screening criteria, training, age, sex, and physiological condition. In mission factors such as available countermeasures, mission duration and location and post mission factors such as time to return to baseline (reconditioning), post mission health screening, and available treatments. All of the factors influence the total risk assessment for each human risk. The HSRB performed a comprehensive review of all potential inflight medical conditions and events and over the course of several reviews consolidated the number of human system risks to 30, where the greatest emphasis is placed for investing program dollars for risk mitigation. The HSRB considers all available evidence from human research and, medical operations and occupational surveillance in assessing the risks for appropriate mitigation and future work. All applicable DRMs (low earth orbit for 6 and 12 months, deep space for 30 days and 1 year, a lunar mission for 1 year, and a planetary mission for 3 years) are considered as human system risks are modified by the hazards associated with space flight such as microgravity, exposure to radiation, distance from the earth, isolation and a closed environment. Each risk has a summary

  10. Application of the analytical hierarchy process to establish health care waste management systems that minimise infection risks in developing countries

    CSIR Research Space (South Africa)

    Brent, AC

    2007-01-01

    Full Text Available . This is achieved by evaluating the way in which the AHP can best be combined with a life cycle management (LCM) approach, and addressing a main objective of HCWM systems, i.e. to minimize infection of patients and workers within the system. The modified approach...

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

    Directory of Open Access Journals (Sweden)

    Wojciech Machowiak

    2012-12-01

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

  12. Methodology of environmental risk assessment management

    Directory of Open Access Journals (Sweden)

    Saša T. Bakrač

    2012-04-01

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

  13. Intermediaries in the Management Process of Innovation

    DEFF Research Database (Denmark)

    Gretzinger, Susanne; Hinz, Holger; Matiaske, Wenzel

    2012-01-01

    Information is a critical resource in innovation processes. SMEs are therefore advised to draw on consulting in innovation processes, as they cannot ensure the necessary information flow internally due to lesser resources. From the strategic point of view, the involvement of intermediaries is acc...... is accompanied by the risk of losing specific knowledge to the business environment. But the other way around: To neglect the integration of consultancies could mean a deficit in the process of information management....

  14. Subsea pipeline operational risk management

    Energy Technology Data Exchange (ETDEWEB)

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

    1996-12-31

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

  15. Surgeons' intraoperative decision making and risk management.

    Science.gov (United States)

    Pauley, Keryn; Flin, Rhona; Yule, Steven; Youngson, George

    2011-10-01

    Surgical research on decision making and risk management usually focuses on perioperative care, despite the magnitude and frequency of intraoperative risks. The aim of this study was to examine surgeons' intraoperative decisions and risk management strategies to explore differences in cognitive processes. Critical decision method interviews were conducted with 24 consultant surgeons who recalled cases and selected important decisions during the operations. These decision were then discussed in detail in relation to decision-making style and risk management. The key decision in each case was made using either a rapid, intuitive mode (46%) or a more deliberate comparison of alternative courses of action (50%). Decision strategy was not related to surgical approach (endoscopic vs open), context (elective vs emergency), perceived time pressure, or situational threats. Risk management involved perceiving threats and assessing impact but also indicated the role of personal risk tolerance. Surgeons described making key intraoperative decisions using either an intuitive or an analytic mode of thinking. Surgeons' risk assessment, risk tolerance, and decision strategies appear to be influenced by their personalities. Copyright © 2011 Elsevier Inc. All rights reserved.

  16. Assessing and managing multiple risks in a changing world ...

    Science.gov (United States)

    Roskilde University (Denmark) hosted a November 2015 workshop, Environmental Risk—Assessing and Managing Multiple Risks in a Changing World. This Focus article presents the consensus recommendations of 30 attendees from 9 countries regarding implementation of a common currency (ecosystem services) for holistic environmental risk assessment and management; improvements to risk assessment and management in a complex, human-modified, and changing world; appropriate development of protection goals in a 2-stage process; dealing with societal issues; risk-management information needs; conducting risk assessment of risk management; and development of adaptive and flexible regulatory systems. The authors encourage both cross-disciplinary and interdisciplinary approaches to address their 10 recommendations: 1) adopt ecosystem services as a common currency for risk assessment and management; 2) consider cumulative stressors (chemical and nonchemical) and determine which dominate to best manage and restore ecosystem services; 3) fully integrate risk managers and communities of interest into the risk-assessment process; 4) fully integrate risk assessors and communities of interest into the risk-management process; 5) consider socioeconomics and increased transparency in both risk assessment and risk management; 6) recognize the ethical rights of humans and ecosystems to an adequate level of protection; 7) determine relevant reference conditions and the proper ecological c

  17. Risk management methodology for RBMN project

    Energy Technology Data Exchange (ETDEWEB)

    Borssatto, Maria F.B.; Tello, Cledola C.O.; Uemura, George, E-mail: fborssatto@gmail.com, E-mail: tellocc@cdtn.br, E-mail: george@cdtn.br [Centro de Desenvolvimento da Tecnologia Nuclear (CDTN/CNEN-MG), Belo Horizonte, MG (Brazil)

    2013-07-01

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

  18. Cognitive mapping tools: review and risk management needs.

    Science.gov (United States)

    Wood, Matthew D; Bostrom, Ann; Bridges, Todd; Linkov, Igor

    2012-08-01

    Risk managers are increasingly interested in incorporating stakeholder beliefs and other human factors into the planning process. Effective risk assessment and management requires understanding perceptions and beliefs of involved stakeholders, and how these beliefs give rise to actions that influence risk management decisions. Formal analyses of risk manager and stakeholder cognitions represent an important first step. Techniques for diagramming stakeholder mental models provide one tool for risk managers to better understand stakeholder beliefs and perceptions concerning risk, and to leverage this new understanding in developing risk management strategies. This article reviews three methodologies for assessing and diagramming stakeholder mental models--decision-analysis-based mental modeling, concept mapping, and semantic web analysis--and assesses them with regard to their ability to address risk manager needs. © 2012 Society for Risk Analysis.

  19. Comparing military and civilian critical thinking and information processes in operational risk management: what are the lessons?

    Science.gov (United States)

    VanVactor, Jerry D; Gill, Tony

    2010-03-01

    Business continuity has expanded into a discipline that spans most functional areas of large enterprises. Both the military and financial sectors have consistently demonstrated an aptitude to expand the boundaries of continuity planning and crisis mitigation. A comparison of both enterprises is provided to see how their respective methodologies compare. Interestingly, the similarities far outweigh the differences. The paper provides commentary related to comparative insight from risk practitioners' perspectives from within the US Army, one of the largest military organisations in the world, and the Bank of Montreal, one of Canada's leading financial institutions.

  20. COORDINATES OF A RISK MANAGEMENT PROJECT

    Directory of Open Access Journals (Sweden)

    ALEXANDRU OLTEANU

    2013-05-01

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

  1. Risk Management Concepts and Guidance

    Science.gov (United States)

    1989-03-01

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

  2. Cyber Insurance - Managing Cyber Risk

    Science.gov (United States)

    2015-04-01

    I N S T I T U T E F O R D E F E N S E A N A L Y S E S Cyber Insurance – Managing Cyber Risk Laura A. Odell, Project Leader...license under the clause at DFARS 252.227-7013 (a)(16) [Jun 2013]. Cyber Insurance – Managing Cyber Risk Data breaches involving...result, the insurance industry is seeing a sharp increase in demand for cyber in- surance offerings to businesses. What is cyber insurance ? Cyber

  3. Optimizing Processes to Minimize Risk

    Science.gov (United States)

    Loyd, David

    2017-01-01

    NASA, like the other hazardous industries, has suffered very catastrophic losses. Human error will likely never be completely eliminated as a factor in our failures. When you can't eliminate risk, focus on mitigating the worst consequences and recovering operations. Bolstering processes to emphasize the role of integration and problem solving is key to success. Building an effective Safety Culture bolsters skill-based performance that minimizes risk and encourages successful engagement.

  4. 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

  5. The Research on Safety Management Information System of Railway Passenger Based on Risk Management Theory

    Science.gov (United States)

    Zhu, Wenmin; Jia, Yuanhua

    2018-01-01

    Based on the risk management theory and the PDCA cycle model, requirements of the railway passenger transport safety production is analyzed, and the establishment of the security risk assessment team is proposed to manage risk by FTA with Delphi from both qualitative and quantitative aspects. The safety production committee is also established to accomplish performance appraisal, which is for further ensuring the correctness of risk management results, optimizing the safety management business processes and improving risk management capabilities. The basic framework and risk information database of risk management information system of railway passenger transport safety are designed by Ajax, Web Services and SQL technologies. The system realizes functions about risk management, performance appraisal and data management, and provides an efficient and convenient information management platform for railway passenger safety manager.

  6. PROCESS CONCEPT TO PERFORMANCE MANAGEMENT

    OpenAIRE

    Khourshed, Nevien F.

    2012-01-01

    In recent years many organisations have been busy implementing new or improved performance management systems. Recent research has shown that the regular use of these systems leads to better organisational results. There is however little knowledge about the actual mechanisms which cause the positive effects of performance management. Consequently, the objective of this paper is to create a clear focus on performance management process and illustrate that it is needed to design a step b...

  7. 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...

  8. The role of internal audit in companies' risk management

    Directory of Open Access Journals (Sweden)

    Vlaović-Begović Sanja

    2012-01-01

    Full Text Available The internal audit area of application differs according to management needs and demands, as well as the structure and the size of a company. Besides examination of bookkeeping information, law synchronization check, criminal action and mistakes discoveries, internal audit is more and more directed towards risk management process in order to respond to the demands of uncertain business and to secure adequate business decisions making for management. This paper examines the role of internal audit in companies' risk management that is represented in examination and evaluation of risk management processes, with the aim of decreasing risk to an acceptable level for a company. Besides that, internal audit can support the management in configuration and establishing more efficient, improved risk management process. In order to ensure independence and objectiveness of internal audit operation, activities and responsibilities of management and internal audit are clearly defined.

  9. RELEVANCE OF PROCESS RISK ASSESSMENT IN AIRLINES

    Directory of Open Access Journals (Sweden)

    Oksana G. Feoktistova

    2017-01-01

    Full Text Available The notion of “the concept on assumed risk” that took over from the outdated concept of absolute security is analyzed, the increasing significance of operating risk assessment at the present stage is noted. Some basic risk assessment techniques are considered. Matrix technique of risk assessment is considered more thoroughly, and it may be used in risk assessment of airlines in the context of labour protection management system.The ability to correctly assess risks and develop appropriate precautionary measures will allow airlines to avoid incidents leading to drastic consequences for staff, as well as to direct and indirect costs for the enterprise among which there could be singled out both direct property damage and loss of profit and expenses connected to incident investigation, penalty and compensation payment, loss of business reputation and so on. To reduce the rate of accidents and to develop safe activities skills for airlines staff a risk assessment chart is supposed to be implemented, which will be an efficient accidents prevention involving the staff in the process and making them follow safe working conditions.Process risk assessment is an integral part of assessment of the whole enterprise activity and work efficiency of a department and particular workers evaluation system. Labour protection activity should be based on risk identification and its control. Risk assessment is a keystone of labour protection activity planning.

  10. RISK MANAGEMENT APPROACHES AND PRACTICES IN IT PROJECTS

    Directory of Open Access Journals (Sweden)

    BRANDAS Claudiu

    2012-07-01

    Full Text Available Risk is identified in project management literature as an important factor influencing IT projects success, and it is relevant for both academic and practitionersn#8217; communities. The paper presents the past and current approaches to risk management in IT projects. The objective of this paper is to compare the different approaches and relate them to existing practices. Project management literature and practice have brought different approaches to risk management, and as a result, many projects ended in failure. We present how risk management is considered in the literature, and we compare the main two approaches: the evaluation approach and the management approach. The contingency approach does not consider risk management to be a specific process as it is an embedded process in the other project management processes. Then, we present the main practices in risk management. The methodology applied is based on documentary study review and analysis of the concepts used by the literature. We analyzed the literature published between 1978 and 2011 from the main journals for IT project management and found out that the essence of project management is risk management. The risk management practices have a considerable influence on stakeholdersn#8217; perception of project success. But, regardless of the chosen approach, a standard method for identifying, assessing, and responding to risks should be included in any project as this influences the outcome of the project.

  11. RISK MANAGEMENT IN ENSURING AVIATION (TRANSPORT SECURITY

    Directory of Open Access Journals (Sweden)

    S. E. Prozorov

    2015-01-01

    Full Text Available The paper deals with risk management in aviation (transport security based on the three-level assessment of the current threat levels according to the method of application of countermeasures, presented by ICAO in the form of a matrix of risk management, as well as by the introduction of measures to ensure transport safety, depending on the category of transport infrastructure (or vehicle and the level of Iransport safety. The article illustrates the complementarity of the two approaches, suggesting a higher efficiency of relevant processes in their joint application.

  12. PROJECT MANAGER SKILLS, RISK MANAGEMENT TOOLS

    Directory of Open Access Journals (Sweden)

    Vladut Iacob

    2014-01-01

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

  13. Managing IT-related operational risks

    Directory of Open Access Journals (Sweden)

    Savić Ana

    2008-01-01

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

  14. Risk Management In Construction Projects Of Developing Countries

    National Research Council Canada - National Science Library

    Divya Gupta; Manoj Sharma

    2015-01-01

    Managing risks in construction projects has been perceived as a very important management process so as to accomplish the undertaking goals as far as time, cost, quality, safety and environmental sustainability...

  15. Risks of Mergers and Acquisitions Processes

    Directory of Open Access Journals (Sweden)

    Skitsko Volodymyr I.

    2017-06-01

    Full Text Available Despite structural changes both in the economies of individual countries and in the world at large, the size of the merger/acquisition market is not declining and is tending to grow further. However, uncertainty in the global environment increases the importance of proper analysis, assessment and risk management in merger/acquisition transactions. Using the relevant research and publications by various authors, we have built a general ranking of the significance of merger and acquisition risks according to phases of the indicated process, with comparison of individual risk ratings, based on the publications by authors from Central and Eastern Europe and other countries around the world. The ranking of risks and threats of mergers/acquisitions proposed in this work can be considered one of the most complete for today. Further research needs to focus on the analysis, evaluation, and modeling of merger/acquisition risks, which occupy the top of the ranking, presented by the article.

  16. Model for integrated management of quality, labor risks prevention, environment and ethical aspects, applied to R&D&I and production processes in an organization

    Science.gov (United States)

    González, M. R.; Torres, F.; Yoldi, V.; Arcega, F.; Plaza, I.

    2012-04-01

    It is proposed an integrated management model for an organization. This model is based on the continuous improvement Plan-Do-Check-Act cycle and it intends to integrate the environmental, risk prevention and ethical aspects as well as research, development and innovation projects management in the general quality management structure proposed by ISO 9001:2008. It aims to fulfill the standards ISO 9001, ISO 14001, OSHAS 18001, SGE 21 y 166002.

  17. Integrated foreign exchange risk management

    DEFF Research Database (Denmark)

    Aabo, Tom; Høg, Esben; Kuhn, Jochen

    2010-01-01

    Empirical research has focused on export as a proxy for exchange rate exposure and the use of foreign exchange derivatives as an instrument to deal with this exposure. This empirical study applies an integrated foreign exchange risk management approach with a particular focus on the role of impor...

  18. Integrated Foreign Exchange Risk Management

    DEFF Research Database (Denmark)

    Aabo, Tom; Høg, Esben; Kuhn, Jochen

    Empirical research has focused on export as a proxy for the exchange rate exposure and the use of foreign exchange derivatives as the instrument to deal with this exposure. This empirical study applies an integrated foreign exchange risk management approach with a particular focus on the role...

  19. Ideology and Environmental Risk Management.

    Science.gov (United States)

    Miller, Alan

    1985-01-01

    Discusses the influence of ideology (including both psychological and political dimensions) on an individual's approach to environmental risk management. Compares and contrasts technocratic and humanist forms of environmental ideologies. Also reviews the implications of socio-political and psychological constraints on environmental decision…

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

    African Journals Online (AJOL)

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

  1. Managing Risk in Information Resources and Services Provision in ...

    African Journals Online (AJOL)

    Risk management forms an integral part of the Library's planning and monitoring process and its internal control framework. It is therefore a vital element of good governance and management. This paper discusses the strategies for managing risks in the provision of information services in University Libraries. The concept ...

  2. Social Risk and the Management of MNCs

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    Multinational companies (MNCs) are increasing being exposed to risk that originate from local communities in the business environment where they operate. The response has been to implement systems for stakeholder engagement by including social issues into their risk management systems. However......, these seem to be ineffective in mitigating local community grievances. In this paper I argue that social risk is to be defined in terms of how local stakeholders construct reality through a sensemaking and framing process which constitute at risk by its combined capability to influence organisational value...... creating activities. By utilizing a cross-disciplinary approach founded in a sociological conceptualization of risk I show that there is an alternative to identification and mitigation of social risk. I propose that MNCs could improve their performance by organizing their efforts using “intelligent...

  3. Risk-based decision making : environmental risk management

    Energy Technology Data Exchange (ETDEWEB)

    Graydon, C.F. [Lawson Lundell Lawson and McIntosh, Calgary, AB (Canada)

    1998-12-31

    Risk based environmental decision making was described as the process which involves the identification of any potential or existing environmental impacts, and which attempts to quantify the magnitude of such impacts. Each stage of the decision making process is influenced by ecological, political, economic, cultural and social concerns. The process of defining risk is outlined, and four Canadian examples of decision making processes dealing with environmental risk assessment are described. These are : (1) legislation provisions and definitions under the Alberta Environmental Enhancement and Protection Act which invite a risk based decision making approach, (2) examples of comments made and approaches taken by Courts and Tribunals in addressing risk based risk assessment of environmental matters, (3) environmental enforcement agencies and the approach adopted by the Alberta Department of Environmental Protection in dealing with underground storage tank contamination, and (4) the approach taken by the Courts under the Canadian Environmental Assessment Act. The issue of whether environmental management systems and risk based assessment should be built into the corporate model is also discussed.

  4. MANAGING RISK IN ORGANIZATION OF SPORTING EVENTS

    Directory of Open Access Journals (Sweden)

    Miodrag Koprivica

    2013-07-01

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

  5. Risk Management of NASA Projects

    Science.gov (United States)

    Sarper, Hueseyin

    1997-01-01

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

  6. 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

  7. NGNP Risk Management through Assessing Technology Readiness

    Energy Technology Data Exchange (ETDEWEB)

    John W. Collins

    2010-08-01

    Throughout the Next Generation Nuclear Plant (NGNP) project life cycle, technical risks are identified, analyzed, and mitigated and decisions are made regarding the design and selection of plant and sub-system configurations, components and their fabrication materials, and operating conditions. Risk resolution and decision making are key elements that help achieve project completion within budget and schedule constraints and desired plant availability. To achieve this objective, a formal decision-making and risk management process was developed for NGNP, based on proven systems engineering principles that have guided aerospace and military applications.

  8. Management of Organizational Change Processes

    Directory of Open Access Journals (Sweden)

    Vladimir-Codrin Ionescu

    2015-12-01

    Full Text Available Contemporary organizations need to understand the meaning of change and to tackle it as a source for improving processes and activities, aiming at increasing the performance and competitiveness. From this perspective, the paper presents approaches to organizational change and highlights the fundamental objectives which the organizations set for themselves by designing and implementing organizational change programs. The conceptual framework of the change management is defined and the stages of the change management process are presented. In the final part of the paper the problem of resistance to change is highlighted by explaining the content of the stages that employees go through in the process of adapting to change within organizations

  9. An experience of knowledge co-production for setting up landslide risk management processes in a critical infrastructure: the case of Campania Region (Southern Italy)

    Science.gov (United States)

    Rianna, Guido; Roca Collell, Marta; Uzielli, Marco; Van Ruiten, Kees; Mercogliano, Paola; Ciervo, Fabio; Reder, Alfredo

    2017-04-01

    In Campania Region (Southern Italy), expected increases in heavy rainfall events under the effect of climate changes and demographic pressure could entail a growth of occurrence of weather induced landslides and associated damages. Indeed, already in recent years, pyroclastic covers mantling the slopes of a large part of the Region have been affected by numerous events often causing victims and damages to infrastructures serving the urban centers. Due to the strategic relevance of the area, landslide events affecting volcanic layers in Campania Region are one of the five case studies investigated in the FP7 European Project INTACT about the impacts of extreme weather on critical infrastructure. The main aim of INTACT project is to increase the resilience of critical infrastructures (CI) facing extreme weather events improving the awareness of stakeholders and asset managers about such phenomena and their potential variations due to Climate Changes and providing tools to support risk management strategies. A WIKI has been designed as a remote support for all stages of the risk process through brief theoretical explanations (in Wiki style) about tools and methods proposed and reports on the findings and hints returned by case studies investigations. In order to have a product tailored to the needs and background of CI owners, managers and policy makers, an intense effort of knowledge co-production between researchers and stakeholders have been carried out in different case studies through questionnaires, meetings, workshops and/or 1-to-1 interviews. This work presents the different tools and approaches adopted to facilitate the exchange with stakeholders in the Campanian case study such as the "Storytelling approach", aiming to stress the need for a comprehensive and overall approach to the issue between the different disaster management phases (mitigation, preparedness, response and recovery) and actors; the CIRCLE approach developed by Deltares, partner in INTACT

  10. Risk perception - Issues for flood management in Europe

    DEFF Research Database (Denmark)

    Bradford, R. A.; O'Sullivan, J. J.; Van Der Craats, I. M.

    2012-01-01

    European countries. The research forms part of two research projects funded under the 2nd ERA-Net CRUE Funding Initiative: URFlood and FREEMAN. Risk perception is conceptualised as a pillar of social resilience, representing an innovative approach to the issue. From this process recommendations......Public perception of flood risk and flood risk information is often overlooked when developing flood risk management plans. As scientists and the public at large perceive risk in very different ways, flood risk management strategies are known to have failed in the past due to this disconnect...... are identified for improving flood risk management plans through public participation....

  11. Effects of Risk Management Practices on IT Project Success

    Directory of Open Access Journals (Sweden)

    Pimchangthong Daranee

    2017-03-01

    Full Text Available Successful management of an information technology (IT project is the most desirable for all organisations and stakeholders. Many researchers elaborated that risk management is a key part of project management for any project size. Risk management is so critical because it provides project managers with a forward-looking view of both threats and opportunities to improve the project success. The objectives of this research are to explore organisational factors affecting IT project success and risk management practices influencing IT project success. Risk management practices include risk identification, risk analysis, risk response planning, and risk monitoring and control. The IT project success is measured by process performance and product performance. Data are collected from 200 project managers, IT managers, and IT analysts in IT firms through questionnaires and analysed using Independent Sample t-test, One-way ANOVA, and Multiple Linear Regression at the statistical significance level of 0.05. The results show that the differences in organisational types affect IT project success in all aspects, while the differences on organisational sizes affect IT project success in the aspect of product performance and total aspects. Risk identification and risk response planning influence the process performance and the total aspects of IT project success. Risk identification has the highest positive influence on product performance, followed closely by risk response, while risk analysis negatively influences product performance.

  12. Tank waste remediation system risk management list

    Energy Technology Data Exchange (ETDEWEB)

    Collard, L.B.

    1995-10-31

    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.

  13. Risk Management Practices by Barbadian Banks

    Directory of Open Access Journals (Sweden)

    Anthony Wood

    2013-07-01

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

  14. Computer-Suported Risk Identification for the Holistic Management of Risks

    OpenAIRE

    Leidner, Jochen L.

    2015-01-01

    Risk is part of the fabric of every business; surprisingly, there is little work on establishing best practices for systematic, repeatable risk identification, arguably the first step of any risk management process. In this paper, we present a proposal that constitutes a more holistic risk management approach, a methodology for computer-supported risk identification is proposed that may lead to more consistent (objective, repeatable) risk analysis.

  15. Electronic Handbooks Simplify Process Management

    Science.gov (United States)

    2012-01-01

    Getting a multitude of people to work together to manage processes across many organizations for example, flight projects, research, technologies, or data centers and others is not an easy task. Just ask Dr. Barry E. Jacobs, a research computer scientist at Goddard Space Flight Center. He helped NASA develop a process management solution that provided documenting tools for process developers and participants to help them quickly learn, adapt, test, and teach their views. Some of these tools included editable files for subprocess descriptions, document descriptions, role guidelines, manager worksheets, and references. First utilized for NASA's Headquarters Directives Management process, the approach led to the invention of a concept called the Electronic Handbook (EHB). This EHB concept was successfully applied to NASA's Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, among other NASA programs. Several Federal agencies showed interest in the concept, so Jacobs and his team visited these agencies to show them how their specific processes could be managed by the methodology, as well as to create mockup versions of the EHBs.

  16. 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...

  17. Risk Management : History, Definition and Critique

    OpenAIRE

    Georges Dionne

    2013-01-01

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

  18. A case study in industrial risk management

    OpenAIRE

    2011-01-01

    M.Ing. This dissertation focuses on an industrial risk management case study, which aims to illustrate how the risks involved in a new project have to be identified, approached and managed. The aim of this dissertation is therefore to act as an example of modem risk management theory and implementation in an industrial engineering environment. The first part of the dissertation focuses on the theoretical background of risk management. It starts by giving the history of risk after which a d...

  19. Virtual Enterprise Risk Management Using Artificial Intelligence

    Directory of Open Access Journals (Sweden)

    Hanning Chen

    2010-01-01

    Full Text Available Virtual enterprise (VE has to manage its risk effectively in order to guarantee the profit. However, restricting the risk in a VE to the acceptable level is considered difficult due to the agility and diversity of its distributed characteristics. First, in this paper, an optimization model for VE risk management based on distributed decision making model is introduced. This optimization model has two levels, namely, the top model and the base model, which describe the decision processes of the owner and the partners of the VE, respectively. In order to solve the proposed model effectively, this work then applies two powerful artificial intelligence optimization techniques known as evolutionary algorithms (EA and swarm intelligence (SI. Experiments present comparative studies on the VE risk management problem for one EA and three state-of-the-art SI algorithms. All of the algorithms are evaluated against a test scenario, in which the VE is constructed by one owner and different partners. The simulation results show that the PS2O algorithm, which is a recently developed SI paradigm simulating symbiotic coevolution behavior in nature, obtains the superior solution for VE risk management problem than the other algorithms in terms of optimization accuracy and computation robustness.

  20. 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.

  1. Strategies for psychosocial risk management in manufacturing

    OpenAIRE

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

    2015-01-01

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

  2. Command Process Modeling & Risk Analysis

    Science.gov (United States)

    Meshkat, Leila

    2011-01-01

    Commanding Errors may be caused by a variety of root causes. It's important to understand the relative significance of each of these causes for making institutional investment decisions. One of these causes is the lack of standardized processes and procedures for command and control. We mitigate this problem by building periodic tables and models corresponding to key functions within it. These models include simulation analysis and probabilistic risk assessment models.

  3. Obsolescence Risk Assessment Process Best Practice

    Science.gov (United States)

    Romero Rojo, F. J.; Roy, R.; Kelly, S.

    2012-05-01

    A component becomes obsolete when it is no longer available from the original manufacturer to the original specification. In long-lifecycle projects, obsolescence has become a major problem as it prevents the maintenance of the system. This is the reason why obsolescence management is now an essential part of the product support activities in sectors such as defence, aerospace, nuclear and railway; where systems need to be supported for several decades. The obsolescence risk assessment for the bill of materials (BoM) is a paramount activity in order to manage obsolescence proactively and cost-effectively. This is the reason why it was necessary to undertake a benchmarking study to develop best practice in this process. A total of 22 obsolescence experts from 13 different organisations/projects from across UK and USA have participated in this study. Their current processes and experience have been taken into account in the development of the best practice process for obsolescence risk assessment. The key factors that have to be analysed in the risk assessment process for each component in the BoM are: number of manufacturers, years to end of life, stock available, consumption rate and operational impact criticality. For the very high risk components, a more detailed analysis is required to inform the decisions regarding the most suitable mitigation strategies. On the contrary, for the low risk components, a fully proactive approach is neither appropriate nor cost effective. Therefore, it is advised for these components that obsolescence issues are dealt with reactively. This process has been validated using case studies with several experts from industry and is currently being implemented by the UK Ministry of Defence as technical guidance within the JSP 886 Volume 7 Part 8.13 standards.

  4. Managing IT Integration Risk in Acquisitions

    DEFF Research Database (Denmark)

    Henningsson, Stefan; Kettinger, William J.

    2016-01-01

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

  5. Evaluation of Risk Management Strategies for a Low-Cost, High-Risk Project

    Science.gov (United States)

    Shishko, Robert; Jorgensen, Edward J.

    1996-01-01

    This paper summarizes work in progress to define and implement a risk management process tailored to a low-cost, high-risk, NASA mission -the Microrover Flight Experiment (MFEX, commonly called the Mars microrover).

  6. Online professional networks for physicians: risk management.

    Science.gov (United States)

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

    2012-05-01

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

  7. Decision Making and Risk Management in Adventure Sports Coaching

    Science.gov (United States)

    Collins, Loel; Collins, Dave

    2013-01-01

    Adventure sport coaches practice in environments that are dynamic and high in risk, both perceived and actual. The inherent risks associated with these activities, individuals' responses and the optimal exploitation of both combine to make the processes of risk management more complex and hazardous than the traditional sports where risk management…

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

    Energy Technology Data Exchange (ETDEWEB)

    Anon.

    1996-12-31

    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.

  9. Evaluating Process Effectiveness to Reduce Risk

    Science.gov (United States)

    Shepherd, Christena C.

    2017-01-01

    security; loss of confidence in government; failure of publicly funded projects; damage to the environment; ethics violations, and the list goes on; with local, national and even international consequences. The Plan-Do-Check-Act process, also known as the "process approach" can be used at any time to establish and standardize a process, and it can also be used to check periodically for "process creep" (i.e., informal, unauthorized changes that have occurred over time), any necessary updates and improvements. While ISO 9001 compliance is not mandated for all government agencies, if interpreted correctly, it can be useful in establishing a framework and implementing effective management systems and processes.4 Another method that can be used to evaluate effectiveness is the scorecard definitions in Mallory's Process Management Standard5 as a basis for evaluating work on the process level on effective, and continuously improved and improving processes. With processes on the lower end of the scale, agencies are vulnerable to a great many risks, with employees and managers making up many of the rules as they go, leading to the above listed negative results. Without clear guidance for nominal operations, off-nominal situations can, and do, increase the likelihood of chaos. In an increasingly technical environment, with inter-agency communication and collaboration becoming the norm, agencies need to come to grips with the fact that processes can become rapidly outdated, and that the technical community should take on an increased role in the maturation of the agency's processes. Industry has long known that effective processes are also efficient, and process improvement methods such as Kaizen, Lean, Six Sigma, 5S, and mistake proofing lead to increased productivity, improved quality, and decreased cost. Again, government agencies have different concerns, but inefficiencies and mistakes can have dire and wide reaching consequences for the public that they serve. While no one goes

  10. 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.

  11. NCCDS configuration management process improvement

    Science.gov (United States)

    Shay, Kathy

    1993-01-01

    By concentrating on defining and improving specific Configuration Management (CM) functions, processes, procedures, personnel selection/development, and tools, internal and external customers received improved CM services. Job performance within the section increased in both satisfaction and output. Participation in achieving major improvements has led to the delivery of consistent quality CM products as well as significant decreases in every measured CM metrics category.

  12. What is Business Process Management?

    DEFF Research Database (Denmark)

    Møller, Charles; Tan, Rune Domino; Maack, Carsten Jessen

    2007-01-01

    Business Process Management (BPM) is an emerging new field in business. However there is no academically agreed upon conceptual framework. The aim of this paper is to establish a conceptual framework grounded in the recent literature. The purpose of this work is to ensure a better foundation...

  13. Integrated Risk Management Within NASA Programs/Projects

    Science.gov (United States)

    Connley, Warren; Rad, Adrian; Botzum, Stephen

    2004-01-01

    As NASA Project Risk Management activities continue to evolve, the need to successfully integrate risk management processes across the life cycle, between functional disciplines, stakeholders, various management policies, and within cost, schedule and performance requirements/constraints become more evident and important. Today's programs and projects are complex undertakings that include a myriad of processes, tools, techniques, management arrangements and other variables all of which must function together in order to achieve mission success. The perception and impact of risk may vary significantly among stakeholders and may influence decisions that may have unintended consequences on the project during a future phase of the life cycle. In these cases, risks may be unintentionally and/or arbitrarily transferred to others without the benefit of a comprehensive systemic risk assessment. Integrating risk across people, processes, and project requirements/constraints serves to enhance decisions, strengthen communication pathways, and reinforce the ability of the project team to identify and manage risks across the broad spectrum of project management responsibilities. The ability to identify risks in all areas of project management increases the likelihood a project will identify significant issues before they become problems and allows projects to make effective and efficient use of shrinking resources. By getting a total team integrated risk effort, applying a disciplined and rigorous process, along with understanding project requirements/constraints provides the opportunity for more effective risk management. Applying an integrated approach to risk management makes it possible to do a better job at balancing safety, cost, schedule, operational performance and other elements of risk. This paper will examine how people, processes, and project requirements/constraints can be integrated across the project lifecycle for better risk management and ultimately improve the

  14. Operational Risk Management and Military Aviation Safety

    National Research Council Canada - National Science Library

    Ashley, Park

    1999-01-01

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

  15. Integrative nature of financial risk management terminology

    OpenAIRE

    Akhmetova, Maynur

    2014-01-01

    Interdisciplinary approach to studying financial risk management terminology. Languages for special purposes of developed scientific fields are the most productive sources for borrowings for dynamically developing ones. Sources of term borrowings for financial risk management: their specific features and types.

  16. Relational risk and relationship management in facilities management partnerships

    OpenAIRE

    Salonen, Anssi

    2006-01-01

    This dissertation studies facilities management (FM) partnerships and related risks. The study consists of three research phases. The first phase was a qualitative pilot study to gain understanding and form preliminary research questions and propositions. This was conducted through four pilot cases. The second phase of the research process was a qualitative longitudinal case study. In this case work it was possible to investigate the proposed research questions more thoroughly as I worked wit...

  17. RISK ANALYSIS IN MILK PROCESSING

    Directory of Open Access Journals (Sweden)

    I. PIRVUTOIU

    2008-05-01

    Full Text Available This paper aimed to evaluate Risk bankruptcy using “Score Method” based on Canon and Holder’s Model. The data were collected from the Balance Sheet and Profit and Loss Account for the period 2005-2007, recorded by a Meat processing Plant (Rador Commercial Company .The study has put in evidence the financial situation of the company,the level of the main financial ratios fundamenting the calculation of Z score function value in the three years The low values of Z score function recorded every year reflects that the company is still facing backruptcy. However , the worst situation was recorded in the years 2005 and 2006, when baknruptcy risk was ranging between 70 – 80 % . In the year 2007, the risk bankruptcy was lower, ranging between 50-70 % , as Z function recorded a value lower than 4 .For Meat processing companies such an analysis is compulsory at present as long as business environment is very risky in our country.

  18. Value at Risk models for Energy Risk Management

    OpenAIRE

    Novák, Martin

    2010-01-01

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

  19. Validation of MCNP4a for highly enriched uranium using the Battelle process safety and risk management IBM RS/6000 workstation

    Energy Technology Data Exchange (ETDEWEB)

    Negron, S.B.; Lee, B.L. Jr.; Tayloe, R.W. Jr.

    1996-01-01

    This document has been prepared to allow use of the Radiation Shielding and Information Center (RSIC) release of MCNP4a, which has been installed on the Battelle Process Safety and Risk Management (PSRM) IBM RS/6000 workstation, for production calculations for the Portsmouth Gaseous Diffusion Plant (PORTS). This hardware/software configuration is under the configuration control plan listed in Reference 1. The first portion of this document outlines basic information with regard to validation of MCNP4a using the supplied cross sections and the additional MCNPDAT cross sections. A basic discussion of MCNP is provided, along with discussions of the validation database in general. A description of the statistical analysis then follows. The results of this validation indicate that the software and data libraries examined may be used with confidence for criticality calculations at the Portsmouth Gaseous Diffusion Plant (PORTS). When the validation results are treated as a single group, there is a 95% confidence that 99.9% of future calculations of similar critical systems will have a calculated k{sub eff} > 0.95. Based on this result, the Battelle PSRM Nuclear Safety Group has adopted the calculational acceptance criteria that a calculated k{sub eff} + 2{sigma}, {le} 0.95 is safely subcritical. The conclusion of this document is that MCNP4a and all associated cross section libraries installed on the PSRM IBM RS/6000 are acceptable for use in performing production criticality safety calculations for the Portsmouth Gaseous Diffusion Plant.

  20. Cultural resource management: The risk of compliance

    Energy Technology Data Exchange (ETDEWEB)

    Curtis, S.A.

    1994-02-01

    The statutory mandate for federal agencies to involve American Indians in the management of cultural resources may create a cultural risk for the people those statutes are intended to protect. A conceptual framework is given to help understand this dilemma. Factors that can exacerbate the severity of the adverse cultural impacts for tribal people are also examined. Policy recommendations are offered for reducing tensions among an the participants in the statutory process.

  1. Essays in Mortgage Funding and Risk Management

    OpenAIRE

    Bellicha, Aya

    2016-01-01

    This dissertation consists of three chapters on mortgage funding and risk management.The U.S mortgage market is very concentrated. In 2006, the top 40 lenders were responsiblefor the origination of 96 percent of all mortgages (Stanton et al. (2014)). These large lendersoriginated about 60 percent of the mortgages through the wholesale channel, delegating partsof the origination process to third party agents such as mortgage brokers and correspondentlenders. I show that the type of agent selec...

  2. The Comparison of Selected Risk Management Methods for Project Management

    OpenAIRE

    Obrová, Vladěna; Smolíková, Lenka

    2013-01-01

    Part 7: Environmental Management/-Accounting and -Statistics; International audience; Project management is a set of validated and described procedures that comprehensively solve the implementation and management of defined activities that relate to a specific project. In the Czech Republic, the issue of risk management in projects often neglected and began to be more used to the ESF projects where is the risk management required. There are used most often for risk analysis 3 methods - sensit...

  3. CONSIDERATIONS REGARDING THE MANAGEMENT STRATEGIES OF BANK RISKS

    Directory of Open Access Journals (Sweden)

    NICOLETA GEORGETA PANAIT

    2015-12-01

    Full Text Available The study summarizes what it means banking risks, the main risk management strategies. The complexity of the business environment, liberalization and internationalization of financial flows, brings rapid innovation, diversified financial markets, new opportunities but multiplied risks. Banks establish the types of risks they are prepared to take and the threshold at which risk is considered significant. The process of determining the risks that are taken includes the nature, the scale and the complexity of banks.

  4. 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.

  5. Big data based fraud risk management at Alibaba

    OpenAIRE

    Chen, Jidong; Tao, Ye; Wang, Haoran; Chen, Tao

    2015-01-01

    With development of mobile internet and finance, fraud risk comes in all shapes and sizes. This paper is to introduce the Fraud Risk Management at Alibaba under big data. Alibaba has built a fraud risk monitoring and management system based on real-time big data processing and intelligent risk models. It captures fraud signals directly from huge amount data of user behaviors and network, analyzes them in real-time using machine learning, and accurately predicts the bad users and transactions....

  6. 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...

  7. Adoption of Building Information Modelling in project planning risk management

    Science.gov (United States)

    Mering, M. M.; Aminudin, E.; Chai, C. S.; Zakaria, R.; Tan, C. S.; Lee, Y. Y.; Redzuan, A. A.

    2017-11-01

    An efficient and effective risk management required a systematic and proper methodology besides knowledge and experience. However, if the risk management is not discussed from the starting of the project, this duty is notably complicated and no longer efficient. This paper presents the adoption of Building Information Modelling (BIM) in project planning risk management. The objectives is to identify the traditional risk management practices and its function, besides, determine the best function of BIM in risk management and investigating the efficiency of adopting BIM-based risk management during the project planning phase. In order to obtain data, a quantitative approach is adopted in this research. Based on data analysis, the lack of compliance with project requirements and failure to recognise risk and develop responses to opportunity are the risks occurred when traditional risk management is implemented. When using BIM in project planning, it works as the tracking of cost control and cash flow give impact on the project cycle to be completed on time. 5D cost estimation or cash flow modeling benefit risk management in planning, controlling and managing budget and cost reasonably. There were two factors that mostly benefit a BIM-based technology which were formwork plan with integrated fall plan and design for safety model check. By adopting risk management, potential risks linked with a project and acknowledging to those risks can be identified to reduce them to an acceptable extent. This means recognizing potential risks and avoiding threat by reducing their negative effects. The BIM-based risk management can enhance the planning process of construction projects. It benefits the construction players in various aspects. It is important to know the application of BIM-based risk management as it can be a lesson learnt to others to implement BIM and increase the quality of the project.

  8. Social Risk Management on German Labour Market

    Directory of Open Access Journals (Sweden)

    Raluca Mihălcioiu

    2014-05-01

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

  9. Exploration Systems Development (ESD) Approach to Enterprise Risk Management

    Science.gov (United States)

    Bauder, Stephen P.

    2014-01-01

    The National Aeronautics and Space Administration (NASA) Exploration Systems Development (ESD) Division has implemented an innovative approach to Enterprise Risk Management under a unique governance structure and streamlined integration model. ESD's mission is to design and build the capability to extend human existence to deep space. The Enterprise consists of three Programs: Space Launch System (SLS), Orion, and Ground Systems Development and Operations (GSDO). The SLS is a rocket and launch system that will be capable of powering humans, habitats, and support systems to deep space. Orion will be the first spacecraft in history capable of taking humans to multiple destinations within deep space. GSDO is modernizing Kennedy's spaceport to launch spacecraft built and designed by both NASA and private industry. ESD's approach to Enterprise Risk Management is commensurate with affordability and a streamlined management philosophy. ESD Enterprise Risk Management leverages off of the primary mechanisms for integration within the Enterprise. The Enterprise integration approach emphasizes delegation of authority to manage and execute the majority of cross-program activities and products to the individual Programs, while maintaining the overall responsibility for all cross-program activities at the Division. The intent of the ESD Enterprise Risk Management approach is to improve risk communication, to avoid replication and/or contradictory strategies, and to minimize overhead process burden. This is accomplished by the facilitation and integration of risk information within ESD. The ESD Division risks, Orion risks, SLS risks, and GSDO risks are owned and managed by the applicable Program. When the Programs have shared risks with multiple consequences, they are jointly owned and managed. When a risk is associated with the integrated system that involves more than one Program in condition, consequence, or mitigation plan, it is considered an Exploration Systems Integration

  10. Risk Factors in ERP Implementation Projects for Process Oriented

    Directory of Open Access Journals (Sweden)

    Andrzej Partyka

    2009-09-01

    Full Text Available This paper present review and analysis of risk factors, which could affect successful implementation of ERP system, for project performed in project oriented organizations. Presented risk breakdown structure and the list of common risk factors, are well-suited for ERP implementation projects. Considered risk categories allow for complex risk analysis. Additionally, mapping of risk importance for particular implementation phases is presented. Making presented model an important input for project risk management process, especially for the beginning phases which require identification of risk factors.

  11. Correlational Study of Risk Management and Information Technology Project Success

    Science.gov (United States)

    Gillespie, Seth J.

    2014-01-01

    Many IT projects fail despite the best efforts to keep these projects within budget, schedule, and scope. Few studies have looked at the effect of project risk management tools and techniques on project success. The primary focus of this study was to examine the extent to which utilization of project risk management processes influence project…

  12. [Methods and tools for risk management in healthcare organisations].

    Science.gov (United States)

    Roussel, P; Guez, P; Moll, M-C

    2008-11-01

    Risk management is a major stake for healthcare organisations. In a systemic approach, the process is based on methods and tools, of which the main ones are mentioned, for general application by clinical or technical teams, for some of them with quality and risk management support.

  13. Implementation of Risk Management in Malaysian Construction Industry: Case Studies

    Directory of Open Access Journals (Sweden)

    Hamzah Abdul-Rahman

    2015-01-01

    Full Text Available Construction industries are exposed to wide array of risks, such as financial, design, and contractual ones, which might have a direct impact on their performance toward achieving the desired objectives. Risk Management is a proactive decision-making process used to minimize and manage the risks in the most efficient and appropriate manner. However, most construction firms in Malaysia do not apply formal risk management in their projects. Thus, this study aims to identify the actual process of risk management that is being applied in the construction projects and to determine the effects of risk management implementation on the performance of the construction projects in terms of time and cost. The data were obtained from four case studies in Kuala Lumpur, Malaysia, through semistructured interviews. It was found that the implementation of risk management process in Malaysian construction industry is still at a low level, mainly due to the fact that most of the construction employees involved in risk management are not fully aware of the available risk management techniques that can be applied in construction projects.

  14. Process leadership and the death of management.

    Science.gov (United States)

    O'Grady, T P

    1997-01-01

    New information technology infrastructure allows point-of-service knowledge workers to make timely, informed decisions and take action without the traditional manager's close oversight or the top-heavy hierarchical structure associated with vertically managed organizations. Process leaders serve as consultants, coaches, linkers, and integrators to support front-line decision makers in a horizontally oriented model. The leaders must then be able to invest control, authority, and accountability for outcomes in the hands of the team. The process leaders, however, must be able to integrate resource information and generate knowledge and support for the providers of care that will enable them to make effective decisions about the requisite work. Process-oriented design in health care organizations emphasizes the interdependence of nurses, physicians, therapists, and technologists who must share the decisions and the risks. Thus, effective and efficient operations depend on recognizing the need for improved communications among team members and respect for the contributions of each.

  15. Management of Organizational Change Processes

    OpenAIRE

    Vladimir-Codrin Ionescu; Cristina Bolcaș

    2015-01-01

    Contemporary organizations need to understand the meaning of change and to tackle it as a source for improving processes and activities, aiming at increasing the performance and competitiveness. From this perspective, the paper presents approaches to organizational change and highlights the fundamental objectives which the organizations set for themselves by designing and implementing organizational change programs. The conceptual framework of the change management is defined and the stages o...

  16. Risk Management in Information Technology Project: An Empirical Study

    Directory of Open Access Journals (Sweden)

    Kornelius Irfandhi

    2016-09-01

    Full Text Available The companies are facing some risks due to changes in a dynamic environment. If risks are not managed properly, it will have some negative impacts on the companies at the present and the future. One important function of the Information Technology (IT governance is risk management. Risk management in IT project aims to provide a safe environment for IT projects undertaken. Risk management becomes an important process for the success of IT projects. This article discussed the risk of IT project and whether there was a relationship between risk management and the success of the project. The method used was performing a literature review of several scientific articles which published between 2010 and 2014. The results of this study are the presence of risk management and risk manager influence the success of the project. Risk analysis and risk monitoring and control also have a relationship with the subjective performance of IT projects. If risk management is applied properly, the chance of the success of the projects undertaken can be increased. 

  17. Risk management for buildings -- Has the time come?

    Energy Technology Data Exchange (ETDEWEB)

    Berry, D.L.; Hunter, R.L.

    1997-08-01

    There are both incentives and challenges for applying formal risk management processes to buildings and other structures, including bridges, highways, dams, stadiums, shopping centers, and private dwellings. Based on an assessment of several issues, the authors conclude that for certain types of buildings and structures the time has come for the use of a formal risk-management approach, including probabilistic risk assessment methods, to help identify dominant risks to public health, safety, and security and to help manage these risks in a cost-effective manner.

  18. Human System Risk Management for Space Flight

    Science.gov (United States)

    Davis, Jeffrey

    2015-01-01

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

  19. Marine and Hydrokinetic Technology Development Risk Management Framework

    Energy Technology Data Exchange (ETDEWEB)

    Snowberg, David [National Renewable Energy Lab. (NREL), Golden, CO (United States); Weber, Jochem [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2015-09-01

    Over the past decade, the global marine and hydrokinetic (MHK) industry has suffered a number of serious technological and commercial setbacks. To help reduce the risks of industry failures and advance the development of new technologies, the U.S. Department of Energy (DOE) and the National Renewable Energy Laboratory (NREL) developed an MHK Risk Management Framework. By addressing uncertainties, the MHK Risk Management Framework increases the likelihood of successful development of an MHK technology. It covers projects of any technical readiness level (TRL) or technical performance level (TPL) and all risk types (e.g. technological risk, regulatory risk, commercial risk) over the development cycle. This framework is intended for the development and deployment of a single MHK technology—not for multiple device deployments within a plant. This risk framework is intended to meet DOE’s risk management expectations for the MHK technology research and development efforts of the Water Power Program (see Appendix A). It also provides an overview of other relevant risk management tools and documentation.1 This framework emphasizes design and risk reviews as formal gates to ensure risks are managed throughout the technology development cycle. Section 1 presents the recommended technology development cycle, Sections 2 and 3 present tools to assess the TRL and TPL of the project, respectively. Section 4 presents a risk management process with design and risk reviews for actively managing risk within the project, and Section 5 presents a detailed description of a risk registry to collect the risk management information into one living document. Section 6 presents recommendations for collecting and using lessons learned throughout the development process.

  20. Mission Risk Reduction Regulatory Change Management

    Science.gov (United States)

    Scroggins, Sharon

    2007-01-01

    NASA Headquarters Environmental Management Division supports NASA's mission to pioneer the future in space exploration, scientific discovery, and aeronautics research by integrating environmental considerations into programs and projects early-on, thereby proactively reducing NASA's exposure to institutional, programmatic and operational risk. As part of this effort, NASA established the Principal Center for Regulatory Risk Analysis and Communication (RRAC PC) as a resource for detecting, analyzing, and communicating environmental regulatory risks to the NASA stakeholder community. The RRAC PC focuses on detecting emerging environmental regulations and other operational change drivers that may pose risks to NASA programs and facilities, and effectively communicating the potential risks. For example, regulatory change may restrict how and where certain activities or operations may be conducted. Regulatory change can also directly affect the ability to use certain materials by mandating a production phase-out or restricting usage applications of certain materials. Regulatory change can result in significant adverse impacts to NASA programs and facilities due to NASA's stringent performance requirements for materials and components related to human-rated space vehicles. Even if a regulation does not directly affect NASA operations, U.S. and international regulations can pose program risks indirectly through requirements levied on manufacturers and vendors of components and materials. For example, manufacturers can change their formulations to comply with new regulatory requirements. Such changes can require time-consuming and costly requalification certification for use in human spaceflight programs. The RRAC PC has implemented a system for proactively managing regulatory change to minimize potential adverse impacts to NASA programs and facilities. This presentation highlights the process utilized by the RRACPC to communicate regulatory change and the associated

  1. Flood risk management strategies and resilience:

    OpenAIRE

    Atanga, Raphael Ane

    2017-01-01

    This study investigates the aspects of resilience in the management strategies of the key stakeholders of flood risk management in the city of Accra, Ghana. The overall objective is to analyse the response capacity in the strategies of the key stakeholders in flood risk management for managing the unexpected course of flood disasters in addition to the expected features of flood risk. To achieve the set objective, the following research questions are addressed: Who are the key stakeholders of...

  2. Investment risk management by applying contemporary modern portfolio theory

    Directory of Open Access Journals (Sweden)

    Jakšić Milena

    2015-01-01

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

  3. 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

  4. Guidelines for developing NASA (National Aeronautics and Space Administration) ADP security risk management plans

    Science.gov (United States)

    Tompkins, F. G.

    1983-01-01

    This report presents guidance to NASA Computer security officials for developing ADP security risk management plans. The six components of the risk management process are identified and discussed. Guidance is presented on how to manage security risks that have been identified during a risk analysis performed at a data processing facility or during the security evaluation of an application system.

  5. XCPU2 process management system

    Energy Technology Data Exchange (ETDEWEB)

    Ionkov, Latchesar [Los Alamos National Laboratory; Van Hensbergen, Eric [IBM AUSTIN RESEARCH LAB

    2009-01-01

    Xcpu2 is a new process management system that allows the users to specify custom file system for a running job. Most cluster management systems enforce single software distribution running on all nodes. Xcpu2 allows programs running on the cluster to work in environment identical to the user's desktop, using the same versions of the libraries and tools the user installed locally, and accessing the configuration file in the same places they are located on the desktop. Xcpu2 builds on our earlier work with the Xcpu system. Like Xcpu, Xcpu2's process management interface is represented as a set of files exported by a 9P file server. It supports heterogeneous clusters and multiple head nodes. Unlike Xcpu, it uses pull instead of push model. In this paper we describe the Xcpu2 clustering model, its operation and how the per-job filesystem configuration can be used to solve some of the common problems when running a cluster.

  6. Managing Macroeconomic Risks by Using Statistical Simulation

    Directory of Open Access Journals (Sweden)

    Merkaš Zvonko

    2017-06-01

    Full Text Available The paper analyzes the possibilities of using statistical simulation in the macroeconomic risks measurement. At the level of the whole world, macroeconomic risks are, due to the excessive imbalance, significantly increased. Using analytical statistical methods and Monte Carlo simulation, the authors interpret the collected data sets, compare and analyze them in order to mitigate potential risks. The empirical part of the study is a qualitative case study that uses statistical methods and Monte Carlo simulation for managing macroeconomic risks, which is the central theme of this work. Application of statistical simulation is necessary because the system, for which it is necessary to specify the model, is too complex for an analytical approach. The objective of the paper is to point out the previous need for consideration of significant macroeconomic risks, particularly in terms of the number of the unemployed in the society, the movement of gross domestic product and the country’s credit rating, and the use of data previously processed by statistical methods, through statistical simulation, to analyze the existing model of managing the macroeconomic risks and suggest elements for a management model development that will allow, with the lowest possible probability and consequences, the emergence of the recent macroeconomic risks. The stochastic characteristics of the system, defined by random variables as input values defined by probability distributions, require the performance of a large number of iterations on which to record the output of the model and calculate the mathematical expectations. The paper expounds the basic procedures and techniques of discrete statistical simulation applied to systems that can be characterized by a number of events which represent a set of circumstances that have caused a change in the system’s state and the possibility of its application in the field of assessment of macroeconomic risks. The method has no

  7. Stochastic models in risk theory and management accounting

    NARCIS (Netherlands)

    Brekelmans, R.C.M.

    2000-01-01

    This thesis deals with stochastic models in two fields: risk theory and management accounting. Firstly, two extensions of the classical risk process are analyzed. A method is developed that computes bounds of the probability of ruin for the classical risk rocess extended with a constant interest

  8. Deciphering priority areas for improving project risk management ...

    African Journals Online (AJOL)

    Risk identification is the first step in the risk-management process. A plethora of current studies in literature dwell overwhelmingly on risk identification much to the exclusion of the source, and the possible mitigation interventions. In a limited effort to address this deficiency in the body of knowledge, this article reports the ...

  9. Risk perception - issues for flood management in Europe

    Science.gov (United States)

    Bradford, R. A.; O'Sullivan, J. J.; van der Craats, I. M.; Krywkow, J.; Rotko, P.; Aaltonen, J.; Bonaiuto, M.; De Dominicis, S.; Waylen, K.; Schelfaut, K.

    2012-07-01

    Public perception of flood risk and flood risk information is often overlooked when developing flood risk management plans. As scientists and the public at large perceive risk in very different ways, flood risk management strategies are known to have failed in the past due to this disconnect between authorities and the public. This paper uses a novel approach in exploring the role of public perception in developing flood risk communication strategies in Europe. Results are presented of extensive quantitative research of 1375 questionnaire responses from thirteen communities at risk across six European countries. The research forms part of two research projects funded under the 2nd ERA-Net CRUE Funding Initiative: URFlood and FREEMAN. Risk perception is conceptualised as a pillar of social resilience, representing an innovative approach to the issue. From this process recommendations are identified for improving flood risk management plans through public participation.

  10. 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.

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

    National Research Council Canada - National Science Library

    Beckvonpeccoz, Stephen

    1997-01-01

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

  12. Clinical risk management: enhancing patient safety.

    OpenAIRE

    Ruggiero Perrino, Nunzia

    2001-01-01

    Risk Management was in the beginning primarily considered a means of controlling and managing litigation, which has been the major worry for clinicians in many countries for a considerable time and a growing problem in the international context. Early risk management strategies were dominated by attempts to reform the legal system and reduce the levels of compensation and the associated costs (Mills, 1995). Gradually...

  13. EFFECTIVE RISK MANAGEMENT IN MODERN INDUSTRIAL ...

    African Journals Online (AJOL)

    for effective risk management, repudiating a unilateral decision by the management, but integrating the .... Story, it has always been condemnable and. Okereke, C. I. – Effective Risk Management in Modern Industrial Organizations in Nigeria .... negatively affected indigenous enterprises. Foreign technicians are preferred to ...

  14. Active Risk Management and Banking Stability

    NARCIS (Netherlands)

    Silva Buston, C.F.

    2013-01-01

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

  15. Benchmarking Outdoor Expeditionary Program Risk Management Strategies

    Science.gov (United States)

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

    2017-01-01

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

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

    Science.gov (United States)

    Gaustad, Joan

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

  17. Information risk management a practitioner's guide

    CERN Document Server

    Sutton, David

    2014-01-01

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

  18. Space weather and risk management

    Directory of Open Access Journals (Sweden)

    H. Lappalainen

    2005-01-01

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

  19. Environmental risk management for pharmaceutical compounds

    Energy Technology Data Exchange (ETDEWEB)

    Voulvoulis, N. [Imperial College London (United Kingdom)

    2004-09-15

    Pharmaceuticals are a highly variable group of organic compounds with the potential to cause harm to aquatic ecosystems and human health. Thousands of tones of pharmacologically active substances are used annually but surprisingly little is known about their ultimate fate in the environment. The data collected to date, rarely provide information on the processes that determine their environmental fate and although they receive considerable pharmacological and clinical testing during development, knowledge of their ecotoxicity is poor. One major concern is that antibiotics found in sewage effluent may cause increased resistance amongst natural bacterial populations. The debate over risks associated with chemicals in the environment represents more than just another disagreement in the scientific community. It has opened the door to a new way of thinking about the onset of uninherited diseases, the nature of scientific investigation, and the role of scientific knowledge in the policymaking process. For example, research evidence on endocrine disruption collected over the last few years has changed dramatically the way we think about chemical risks. In part, this change has also been attributed to the precautionary principle, as a new approach to environmental policy forged in Europe. The term ''precautionary approach'' declares an obligation to control the dangerous substances even before a definitive causal link had been established between the chemicals and health or environmental effects, and represents a radical departure from traditional approaches to risk assessment and particularly risk management, which includes an integration of the assessment, communication and mitigation of risks.

  20. 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...

  1. Environmental management of business processes

    Directory of Open Access Journals (Sweden)

    Vesna Čančer

    2000-01-01

    Full Text Available Since the decision-makers in enterprises will accept the goals of environmental management only if they are motivated enough, comprehensible and useful tools should be generated to support environmentally oriented business decision-making. For that reason, a general optimisation model of the multiphase business process is presented in this paper. This model includes the possibilities for an integrated approach to environmental protection so that it can be applied as a scenario by the business process simulation for the evaluation of environmentally oriented business decisions on business performance. Furthermore, development and application possibilities of the presented model are introduced. Some measures of resource efficiency are developed using the presented optimisation model.

  2. Best practice of nurse managers in risk management

    Directory of Open Access Journals (Sweden)

    Veridiana Tavares Costa

    2013-09-01

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

  3. Risk Management in Agri-food Chain

    OpenAIRE

    Bachev, Hrabrin

    2012-01-01

    This paper incorporates the interdisciplinary New Institutional Economics and presents a comprehensive framework for analyzing the risk management in agri-food sector. First, it specifies the diverse (natural, technical, behavioral, economic, policy etc.) type of agri-food risks, and the (market, private, public and hybrid) modes of their management. Second, it defines the efficiency of risk management and identifies (personal, institutional, dimensional, technological, natural) factors of go...

  4. Risk management in software development projects

    OpenAIRE

    McManus, John

    2004-01-01

    Very few software projects are completed on time, on budget, and to their original specification causing the global IT software industry to lose billions each year in project overruns and reworking software. Research supports that projects usually fail because of management mistakes rather than technical mistakes. Risk Management in Software Development Projects focuses on what the practitioner needs to know about risk in the pursuit of delivering software projects. Risk Management in Softwar...

  5. COMMUNICATING PROBABILISTIC RISK OUTCOMES TO RISK MANAGERS

    Science.gov (United States)

    Increasingly, risk assessors are moving away from simple deterministic assessments to probabilistic approaches that explicitly incorporate ecological variability, measurement imprecision, and lack of knowledge (collectively termed "uncertainty"). While the new methods provide an...

  6. Process simulation and parametric modeling for strategic project management

    CERN Document Server

    Morales, Peter J

    2013-01-01

    Process Simulation and Parametric Modeling for Strategic Project Management will offer CIOs, CTOs and Software Development Managers, IT Graduate Students an introduction to a set of technologies that will help them understand how to better plan software development projects, manage risk and have better insight into the complexities of the software development process.A novel methodology will be introduced that allows a software development manager to better plan and access risks in the early planning of a project.  By providing a better model for early software development estimation and softw

  7. Mainstreaming disaster risk management in higher education

    National Research Council Canada - National Science Library

    Villasana, Marcia; Cárdenas, Bertha E; Adriaenséns, Marianela; Treviño, Ana Catalina; Lozano, Jorge

    2016-01-01

    ...) 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...

  8. 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.

  9. APPLIED ISSUES ABOUT BANKING RISK MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Elena Geanina Clipici

    2017-09-01

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

  10. Risk Management Challenges in Large-scale Energy PSS

    DEFF Research Database (Denmark)

    Tegeltija, Miroslava; Oehmen, Josef; Kozin, Igor

    2017-01-01

    Probabilistic risk management approaches have a long tradition in engineering. A large variety of tools and techniques based on the probabilistic view of risk is available and applied in PSS practice. However, uncertainties that arise due to lack of knowledge and information are still missing...... adequate representations. We focus on a large-scale energy company in Denmark as one case of current product/servicesystems risk management best practices. We analyze their risk management process and investigate the tools they use in order to support decision making processes within the company. First, we...... identify the following challenges in the current risk management practices that are in line with literature: (1) current methods are not appropriate for the situations dominated by weak knowledge and information; (2) quality of traditional models in such situations is open to debate; (3) quality of input...

  11. Feedback on flood risk management

    Science.gov (United States)

    Moreau, K.; Roumagnac, A.

    2009-09-01

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

  12. A Climate Change Risk and Resilience Assessment Process

    Energy Technology Data Exchange (ETDEWEB)

    Myers, Lisa [National Renewable Energy Laboratory (NREL), Golden, CO (United States)

    2017-09-07

    This presentation summarizes a site-specific climate resilience planning process applied at two different U.S. Department of Energy sites, in Colorado and along the Gulf Coast that federal site managers can use to identify and analyze potential climate-related risks and explore resilience options to minimize those risks.

  13. Management of Technology - a political process approach

    DEFF Research Database (Denmark)

    Koch, Christian

    1999-01-01

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

  14. ePORT, NASA's Computer Database Program for System Safety Risk Management Oversight (Electronic Project Online Risk Tool)

    Science.gov (United States)

    Johnson, Paul W.

    2008-01-01

    ePORT (electronic Project Online Risk Tool) provides a systematic approach to using an electronic database program to manage a program/project risk management processes. This presentation will briefly cover the standard risk management procedures, then thoroughly cover NASA's Risk Management tool called ePORT. This electronic Project Online Risk Tool (ePORT) is a web-based risk management program that provides a common framework to capture and manage risks, independent of a programs/projects size and budget. It is used to thoroughly cover the risk management paradigm providing standardized evaluation criterion for common management reporting, ePORT improves Product Line, Center and Corporate Management insight, simplifies program/project manager reporting, and maintains an archive of data for historical reference.

  15. Risk management method for small photovoltaic plants

    Directory of Open Access Journals (Sweden)

    Kirova Milena

    2016-09-01

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

  16. Integrated Risk and Knowledge Management Program -- IRKM-P

    Science.gov (United States)

    Lengyel, David M.

    2009-01-01

    The NASA Exploration Systems Mission Directorate (ESMD) IRKM-P tightly couples risk management and knowledge management processes and tools to produce an effective "modern" work environment. IRKM-P objectives include: (1) to learn lessons from past and current programs (Apollo, Space Shuttle, and the International Space Station); (2) to generate and share new engineering design, operations, and management best practices through preexisting Continuous Risk Management (CRM) procedures and knowledge-management practices; and (3) to infuse those lessons and best practices into current activities. The conceptual framework of the IRKM-P is based on the assumption that risks highlight potential knowledge gaps that might be mitigated through one or more knowledge management practices or artifacts. These same risks also serve as cues for collection of knowledge particularly, knowledge of technical or programmatic challenges that might recur.

  17. The Success and Failure of Social Risk Management Systems

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    social risk management strategy and that this strategy is based on the adoption of an international Corporate Social Responsibility (CSR) standard promoted by the World Bank. However, the fieldwork reveal that local and regional stakeholders, from whom social risk rise, feel disengaged from the process......, continue to raise questions about transparency and in some cases actively oppose mining activities and that this is happening despite the use of stakeholder engagement management systems that is promoted through the standard. My hypothesis is that the implemented social risk management systems...... with investors and government, rather than on building trust with the local communities that actually pose the biggest social risk. This insight into the use of CSR standards has consequences for our perception of how effective these systems are in reducing social risk and the impact on the risk management...

  18. Dynamic process management for engineering environments

    NARCIS (Netherlands)

    Mentink, R.J.; van Houten, Frederikus J.A.M.; Kals, H.J.J.

    2003-01-01

    The research presented in this paper proposes a concept for dynamic process management as part of an integrated approach to engineering process support. The theory of information management is the starting point for the development of a process management system based on evolution of information

  19. COMPLIANCE AS FACTORING BUSINESS RISK MANAGEMENT: CONTROL ASPECTS

    Directory of Open Access Journals (Sweden)

    V.K. Makarovych

    2016-03-01

    Full Text Available Indetermination of modern economy conditions and the lack of theoretical knowledge gained by domestic scientists about risk in factoring business actualize the research concerning the methodology and technique of factoring companies’ risk management. The article examines compliance which is the technology innovative for Ukrainian market of factoring risk management technologies. It is determined that the compliance is the risk management process directed to free will correspondence to state, international legislation as well as to the ethics standards accepted in the field of regulated legal relations and to the traditions of business circulation to sustain the necessary regulations and standards of market behaviour, and to consolidate the image of a factoring company. Compliance risks should be understood as the risks of missed profit or losses caused by the conflicts of interests and the discrepancy of employees’ actions to internal and external standard documents. The attention is paid to the control over the compliance. The author singles out 3 kinds of the compliance control such as institutional, operational and the compliance control over the observance of conducting business professional ethics regulations which are necessary for providing of efficient management of factoring business risks. The paper shows the organizing process of factoring business compliance control (by the development of internal standard documents, a compliance program, the foundation of compliance control subdivision, monitoring of the risks cause the choice, made by management entities of a factoring company, of the management methods of risks for their business. The development of new and improvement of existed forms of compliance control organizing process help satisfy users’ information needs and requests of the risk management factoring company department. The suggestions proposed create the grounds for the transformation and improvement of factoring

  20. Managing Risk Areas in Software Development Offshoring

    DEFF Research Database (Denmark)

    Persson, John Stouby; Schlichter, Bjarne Rerup

    2015-01-01

    Software companies are increasingly offshoring development to countries with high expertise at lower cost. Offshoring involves particular risk areas that if ignored increase the likelihood of failure. However, the offshoring client’s maturity level may influence the management of these risk areas...... of the offshoring risk areas in accordance with the findings of previous research. However, the risk area of task distribution is a notable exception. In this case, managers perceive high task uncertainty, equivocality, and coupling across sites as risk mitigation rather than risk taking. The paper discusses how....... Against this backdrop, we present an interpretive case study of how managers perceive and mitigate the risk areas in software development offshoring with a mature CMMI level 5 (Capability Maturity Model, Integrated) software company as the client. We find that managers perceive and mitigate most...

  1. Risk Management Education for Kentucky Farm Women

    Directory of Open Access Journals (Sweden)

    Jennifer L. Hunter

    2013-06-01

    Full Text Available This article describes how an agricultural and farm risk management education program, known as Annie’s Project, was adapted from a midwestern focus to meet the diversity of Kentucky agriculture and shares the results of a longer-term evaluation of the Kentucky program. The Annie’s Project program is geared specifically to the needs of farm women. The program adaption process, which began in late 2006, is detailed from inception through pilot testing to the full launch of the program. Over a four year period, the Kentucky Annie’s Project program reached 425 farm women in 41 of Kentucky’s 120 counties. The evaluation draws on the results of a questionnaire mailed to program participants 18 months to 5 years after programming. Participants reported statistically significant gains in all topical areas representing agricultural risk management education, including production, human resources, marketing, legal, and financial. Key actions which occurred as a result of participating in the program included increasing confidence in management abilities, reviewing personal/farm insurances policies, developing a network of peers and professionals, and using financial statements.

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

    Directory of Open Access Journals (Sweden)

    Grzegorz MICHALSKI

    2008-12-01

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

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

    Science.gov (United States)

    Rehman, Zobia; Kifor, Claudiu V.

    2015-09-01

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

  4. Consumer perceptions of best practice in food risk communication and management: implications for risk analysis policy

    NARCIS (Netherlands)

    Cope, S.F.; Frewer, L.J.; Houghton, J.R.; Rowe, G.; Fischer, A.R.H.; Jonge, de J.

    2010-01-01

    As a consequence of recent food safety incidents, consumer trust in European food safety management has diminished. A risk governance framework that formally institutes stakeholder (including consumer) consultation and dialogue through a transparent and accountable process has been proposed, with

  5. Model risk analysis for risk management and option pricing

    NARCIS (Netherlands)

    Kerkhof, F.L.J.

    2003-01-01

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

  6. Risk Management of Large RC Structures within Spatial Information System

    DEFF Research Database (Denmark)

    Qin, Jianjun; Faber, Michael Havbro

    2012-01-01

    Abstract: The present article addresses the development of a spatial information system (SIS), which aims to facilitate risk management of large‐scale concrete structures. The formulation of the SIS is based on ideas developed in the context of indicator‐based risk modeling for concrete structures...... subject to corrosion and geographical information system based risk modeling concerning large‐scale risk management. The term “risk management” here refers in particular to the process of condition assessment and optimization of the inspection and repair activities. The SIS facilitates the storage...... and handling of all relevant information to the risk management. The probabilistic modeling utilized in the condition assessment takes basis in a Bayesian hierarchical modeling philosophy. It facilitates the updating of risks as well as optimizing inspection plans whenever new information about the condition...

  7. RISK MANAGEMENT IN AGRICULTURAL MARKETS: A SURVEY

    OpenAIRE

    Tomek, William G.; Peterson, Hikaru Hanawa

    2000-01-01

    This paper surveys and evaluates the current state of knowledge about marketing strategies to manage price and revenue risk for farm commodities. What does existing research tell about the benefits and costs of alternative risk management strategies? What are the limitations of this research? What are the gaps in our knowledge?

  8. 76 FR 45724 - Clearing Member Risk Management

    Science.gov (United States)

    2011-08-01

    ... COMMISSION 17 CFR Parts 1 and 23 RIN 3038-AD51 Clearing Member Risk Management AGENCY: Commodity Futures... are clearing members. DATES: Submit comments on or before September 30, 2011. ADDRESSES: You may... requirement that a DCO adopt rules addressing each clearing member's risk management policies and procedures...

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

    African Journals Online (AJOL)

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

  10. Multiple challenges of risk management in EU credit institutions

    Directory of Open Access Journals (Sweden)

    Constantinescu, A.

    2011-01-01

    Full Text Available This paper is intended to be a significant insight into risk management issues by describing the main types of such risks and by providing management and evaluation procedures of significant risks into some active banking companies in Romania. In times of crisis, risk management in the banking system has a greater importance than in the normal economic times. The 2011 was a year in which Romania has been hit by the repercussions of the international economic crisis. Using strategies against risks, implementing procedures to monitor and control risks, risk assessment and quantification can substantially reduce the financial losses of a company or those of a financial institution. Risk management is an integral part of all decision making and business processes from credit institutions, its purpose being to protect their sustainable development. The innovations on the financial market, the internationalization of the specific operations, and the pressure of the competition are just a few arguments that impose a permanent supervision of the general and specific risks. This is the main reason why is compulsory to find new methods of managing risks, to keep in consideration the identification, evaluation of the management and the control of the banking system and of each bank.

  11. 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.

  12. [Profitability analysis of clinical risk management].

    Science.gov (United States)

    Banduhn, C; Schlüchtermann, J

    2013-05-01

    Medical treatment entails many risks. Increasingly, the negative impact of these risks on patients' health is revealed and corresponding cases are reported to hospital insurances. A systematic clinical risk management can reduce risks. This analysis is designed to demonstrate the financial profitability of implementing a clinical risk management. The decision analysis of a clinical risk management includes information from published articles and studies, publicly available data from the Federal Statistical Office and expert interviews and was conducted in 2 scenarios. The 2 scenarios result from a maximum and minimum value of preventable adverse events reported in Germany. The planning horizon was a 1-year ­period. The analysis was performed from a hospital's perspective. Subsequently, a threshold-analysis of the reduction of preventable adverse events as an effect of clinical risk management was executed. Furthermore, a static capital budgeting over a 5-year period was added, complemented by a risk analysis. Regarding the given assumptions, the implementation of clinical risk management would save about 53 000 € or 175 000 €, respectively, for an average hospital within the first year. Only if the reduction of preventable adverse events is as low as 5.6 or 2.8%, respectively, will the implementation of clinical risk management produce losses. According to a comprehensive risk simulation this happens in less than one out of 1 million cases. The investment in a clinical risk management, based on a 5-year period and an interest rate of 5%, has an annually pay off of 81 000 € or 211 000 €, respectively. The implementation of clinical risk management in a hospital pays off within the first year. In the subsequent years the surplus is even higher due to the elimination of implementation costs. © Georg Thieme Verlag KG Stuttgart · New York.

  13. 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

  14. Strategic Risk Management and Corporate Value Creation

    DEFF Research Database (Denmark)

    Andersen, Torben Juul; Roggi, Oliviero

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

  15. Risk management perspective for climate service development – Results from a study on Finnish organizations

    National Research Council Canada - National Science Library

    Atte Harjanne; Riina Haavisto; Heikki Tuomenvirta; Hilppa Gregow

    2017-01-01

    .... 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...

  16. Environmental risk communication as an educational process

    Science.gov (United States)

    Schottenfeld, Faith

    The purpose of this study was to explore the dynamics of the environmental risk communication process. The goal was to look at the totality of the process by examining the different components: entry to communication (what brings people into the process), maintenance of communication (behaviors of participants, pathways to successful risk communication, barriers to successful risk communication, characteristics of the dialogue) and outcomes of risk communication (what has been learned, what moves the process to social action, what else can come of the process). Interviews and critical incidents were used to explore the experiences of risk communicators in four different practice settings: academia, industry/trade groups, community-based organizations and government. Twenty-four people completed critical incident stories and sixteen participated in in-depth interviews. Data were coded and analyzed for themes. Findings illustrated that successful risk communication results from a deliberative, or purposeful process. This process includes a systematic approach to identifying and inviting people to participate, while considering specific motivating factors that affect participation. Risk communication is maintained by creating and nurturing structured forums for dialogue by acknowledging the varying perspectives of the people who participate and the contextual settings of environmental risks. The result of effective dialogue may range from increased knowledge, to transformative learning to social action and policy change. The researcher recommended that a multi-disciplinary team including risk communicators, adult educators and scientists can work most effectively to plan, implement and evaluate a risk communication process.

  17. Features of risk-management in innovative activity: regional aspect

    Directory of Open Access Journals (Sweden)

    Darmilova Zhenni, D.

    2015-03-01

    Full Text Available The main problems of risk management in modern conditions, especially in risk management innovation, tools, exposure to risks, directions of state support in the management of risk in a public- private partnership are considered in the paper.

  18. THE STRATEGIC PERFORMANCE MANAGEMENT PROCESS

    Directory of Open Access Journals (Sweden)

    Radu Catalina

    2009-05-01

    Full Text Available Contemporary trends in global competition, rapid technological developments and increased use of management information systems and the Internet, developments in planning and control and management thinking, and changing demographics are putting pressures

  19. Aplicação do gerenciamento de riscos no processo de desenvolvimento de produtos nas empresas de autopeças Application of risk management in the product development process of auto parts companies

    Directory of Open Access Journals (Sweden)

    Carlos Eduardo Sanches da Silva

    2010-01-01

    Full Text Available Esta pesquisa analisa a incorporação do gerenciamento de riscos no processo de desenvolvimento de produtos (PDP nas empresas de autopeças, fundamentado no Advanced Product Quality Planning (APQP, enfatiza as entregas do projeto de desenvolvimento preconizadas pelo Production Parts Approval Process (PAPP e realiza uma revisão bibliográfica estabelecendo os fundamentos teóricos para seu desenvolvimento. O método de pesquisa utilizado foi a pesquisa-ação, cujos dados foram coletados por meio de análise documental, entrevistas e observações dos pesquisadores. A incorporação do gerenciamento de riscos no PDP contribui para o processo decisório, principalmente nas etapas de análise de riscos qualitativos e de planejamento de respostas aos riscos, fornecendo maior precisão quanto aos prazos e à identificação das atividades críticas. Os fatores que se destacaram para se obter a precisão dos resultados são: a formação da equipe; a discussão coletiva dos prazos fornecidos, tendo como resultado o comprometimento; o papel do gerente do projeto, propiciando o feedback entre os participantes, e a existência de evidências objetivas do apoio da alta administração. Conclui-se que a formação da equipe influencia no gerenciamento de riscos, sendo preponderante na percepção dos riscos a formação educacional.This research analyzes the incorporation of risk management in the product development process (PDP in auto parts companies, based on Advanced Product and Quality Planning (APQP, and emphasizes the delivery of project development proposed by the Production Part Approval Process (PPAP and conducts a review of the literature, establishing the theoretical foundations for its development. The research method used was action research, where data were collected through documentary analysis, interviews and researchers' observations. The incorporation of risk management contributes to the PDP-making processes, especially in the stages

  20. Human Resource Management in the Enhancement Processes of Knowledge Management

    Directory of Open Access Journals (Sweden)

    Didi Sundiman

    2017-11-01

    Full Text Available This research explored Human Resource Management (HRM in enhancement processes of knowledge management. This research explored how HRM practice enhanced the operational of knowledge management. Data were collected by a survey by interviewing 12 informants from Small and Medium Enterprise (SME. The results show that HRM practice gives initiative in the enhancement process of the knowledge management strategy applied to the company. It can be concluded that each sub-component of HRM affects the components of knowledge management, and HRM is highly influential and has a positive effect on quality management processes and vice versa in the work environment.

  1. Towards Agile Security Risk Management in RE and Beyond

    NARCIS (Netherlands)

    Nunes Leal Franqueira, V.; Bakalova, Z.; Tun, Thein Tan; Daneva, Maia

    Little attention has been given so far to the process of security risk management at the early stages of system development. Security has been addressed by isolated security assurance practices, some of which consider risks and mitigations but they do not provide an overview of the overall security

  2. Systems approach to project risk management

    Energy Technology Data Exchange (ETDEWEB)

    Kindinger, J. P. (John P.)

    2002-01-01

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

  3. The Strategic Risk Management at Different Stages of Innovation Project

    Directory of Open Access Journals (Sweden)

    Pysmak Viktoriia O.

    2017-03-01

    Full Text Available This article considers the theoretical principles of the strategic risk management at every stage of innovation project. Relevance of the selected area of research has been substantiated in view of the necessity to provide the theoretical and practical foundations for the strategic risk management of innovation activity. Principles of management of innovation at a contemporary enterprise have been allocated. Analysis of such concepts as «risk», «innovation», «strategic management» was carried out. The concept of «innovation project» has been considered, its features and characteristics have been allocated. The basic tools of the strategic management of enterprise in current conditions have been described. The basic principles of the strategic risk management of innovation activity have been formulated. A scheme with allocating the stages of innovation activity and the risks involved has been elaborated, taking into consideration the factors of occurrence of risks. The main groups of management strategies have been allocated. The tasks facing the managerial board in the process of the strategic risk management at every stage of the innovation project have been formulated.

  4. ANALYSIS OF HOW YOU MANAGE RISK IN THE BANK BANCPOST S.A.

    Directory of Open Access Journals (Sweden)

    Rodica Pripoaie

    2008-05-01

    Full Text Available Risk management within Bancpost is a decentralized process guided by policies andprocedures laid down centrally. Within the bank there are five major organizational groups involved inthe process of risk management. These groups are responsible for defining, implementing and / orrevision of policies, regulations and procedures for risk management of the bank:1. Board of Directors;2. Executive Committee and heads of bank;3. The Risk Management;4. Internal Audit;5. Business units (branches, agencies, working points.

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

    African Journals Online (AJOL)

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

  6. RISKS MANAGEMENT. A PROPENSITY SCORE APPLICATION

    Directory of Open Access Journals (Sweden)

    Constangioara Alexandru

    2008-05-01

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

  7. Thermal energy management process experiment

    Science.gov (United States)

    Ollendorf, S.

    1984-01-01

    The thermal energy management processes experiment (TEMP) will demonstrate that through the use of two-phase flow technology, thermal systems can be significantly enhanced by increasing heat transport capabilities at reduced power consumption while operating within narrow temperature limits. It has been noted that such phenomena as excess fluid puddling, priming, stratification, and surface tension effects all tend to mask the performance of two-phase flow systems in a 1-g field. The flight experiment approach would be to attack the experiment to an appropriate mounting surface with a 15 to 20 meter effective length and provide a heat input and output station in the form of heaters and a radiator. Using environmental data, the size, location, and orientation of the experiment can be optimized. The approach would be to provide a self-contained panel and mount it to the STEP through a frame. A small electronics package would be developed to interface with the STEP avionics for command and data handling. During the flight, heaters on the evaporator will be exercised to determine performance. Flight data will be evaluated against the ground tests to determine any anomalous behavior.

  8. How Can Every Organization Manage the Operational Risk?

    Directory of Open Access Journals (Sweden)

    Ferry Jie

    2002-03-01

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

  9. Managing business model innovation risks - lessons for theory and practice

    DEFF Research Database (Denmark)

    Taran, Yariv; Chester Goduscheit, René; Boer, Harry

    2015-01-01

    This paper focuses on the challenges related to, and the risk management needed in, the process of business model innovation. Business model innovation may involve hefty investments, high levels of uncertainty, complexity and, inevitably, risk. Although many firms follow a first mover strategic...... industrial firms, we discuss the reasons that led to these failures, and outline various possible solutions for practitioners to manage business model innovation adequately....

  10. Risk Management Improvement of Engineering Projects in Woodworking Industry

    Directory of Open Access Journals (Sweden)

    Simona Bartkutė

    2014-02-01

    Full Text Available Risk is a complex phenomenon that has physical, monetary, cultural and social dimensions. Every company wants tosave money, time, increase quality, optimise manufacturing, but each factor may involve different risks with different influenceto company, its reputation. The aim of the research is to find better risk management improvement decisions, using techniquesthat could help to reduce risk impact in wood-based nonstandard production with shorter project time, smoother design process,lower costs, better project coordination, increased ability to manage problems, technical solutions.

  11. Dynamic Project Risk Analysis and Management Based on Influence Diagrams

    Science.gov (United States)

    Liu, Xiaohua; Yue, Chaoyuan

    This paper presents a real-time process-oriented project risk analysis and management model which can be combined with the project general management, based on the hierarchical risk influence diagram which is constructed on the basis of network planning. Through network planning, it can solve the problems of the dynamic and overall identification of risk elements, and the showing and analysis of risk transfer along with the working procedure, and the timely and dynamic risk prevention and control as well. The influence diagram can effectively represent the risk combination and transfer in time and logic order. And it is good at the analysis of the sensitivity and control value of risk elements, as well as being convenient for communicating between experts, managers and owner. So the hierarchical risk influence diagram can make the decision of risk management timelier and more accurate. The problems of risk description, diagrams construction and risk evaluation are solved very well in applying the general influence diagram to dynamic project risk analysis. In the end, good result is attained in the example.

  12. Legacy Risk Measure for Environmental Management Waste

    Energy Technology Data Exchange (ETDEWEB)

    Eide, Steven Arvid; Nitschke, Robert Leon

    2002-02-01

    The Idaho National Engineering and Environmental Laboratory (INEEL) is investigating the development of a comprehensive and quantitative risk model framework for environmental management activities at the site. Included are waste management programs (high-level waste, transuranic waste, low-level waste, mixed low-level waste, spent nuclear fuel, and special nuclear materials), major environmental restoration efforts, major decontamination and decommissioning projects, and planned long-term stewardship activities. Two basic types of risk estimates are included: risks from environmental management activities, and long-term legacy risks from wastes/materials. Both types of risks are estimated using the Environment, Safety, and Health Risk Assessment Program (ESHRAP) developed at the INEEL. Given these two types of risk calculations, the following evaluations can be performed: • Risk evaluation of an entire program (covering waste/material as it now exists through disposal or other end states) • Risk comparisons of alternative programs or activities • Comparisons of risk benefit versus risk cost for activities or entire programs • Ranking of programs or activities by risk • Ranking of wastes/materials by risk • Evaluation of site risk changes with time as activities progress • Integrated performance measurement using indicators such as injury/death and exposure rates. This paper discusses the definition and calculation of legacy risk measures and associated issues. The legacy risk measure is needed to support three of the seven types of evaluations listed above: comparisons of risk benefit versus risk cost, ranking of wastes/materials by risk, and evaluation of site risk changes with time.

  13. Improving Our Odds: Success through Continuous Risk Management

    Science.gov (United States)

    Greenhalgh, Phillip O.

    2009-01-01

    Launching a rocket, running a business, driving to work and even day-to-day living all involve some degree of risk. Risk is ever present yet not always recognized, adequately assessed and appropriately mitigated. Identification, assessment and mitigation of risk are elements of the risk management component of the "continuous improvement" way of life that has become a hallmark of successful and progressive enterprises. While the application of risk management techniques to provide continuous improvement may be detailed and extensive, the philosophy, ideals and tools can be beneficially applied to all situations. Experiences with the use of risk identification, assessment and mitigation techniques for complex systems and processes are described. System safety efforts and tools used to examine potential risks of the Ares I First Stage of NASA s new Constellation Crew Launch Vehicle (CLV) presently being designed are noted as examples. Recommendations from lessons learned are provided for the application of risk management during the development of new systems as well as for the improvement of existing systems. Lessons learned and suggestions given are also examined for applicability to simple systems, uncomplicated processes and routine personal daily tasks. This paper informs the reader of varied uses of risk management efforts and techniques to identify, assess and mitigate risk for improvement of products, success of business, protection of people and enhancement of personal life.

  14. Management of Environmental Risks in Coastal Areas

    Science.gov (United States)

    Caprioli, M.; Trizzino, R.; Pagliarulo, R.; Scarano, M.; Mazzone, F.; Scognamiglio, A.

    2015-08-01

    The present work deals with the assessment and management of environmental risk conditions in a typical costal area of Southern Italy. This area, located in the Salento peninsula, is subject to recurrent widespread instability phenomena due to the presence of steep rocky cliffs. Along the coast there are numerous beach resorts that are very crowded in the summer season. The environmental hazard deriving from the possible rock falls is unacceptably high for the people safety. Moreover, the land-based mapping of the dangerous natural structures is very difficult and time and resources expending. In this context, we carried out an UAV survey along about 1 km of coast, near the towns of San Foca, Torre dell'Orso and Sant' Andrea ( Lecce, Southern Italy). The UAV platform was equipped with a photogrammetric measurement system that allowed us to obtain a mobile mapping of the fractured fronts of dangerous rocky cliffs. UAV-images data have been processed using dedicated software (Agisoft Photoscan). The total error obtained was of centimeter-order that is a very satisfactory result. The environmental information has been arranged in an ArcGIS platform in order to assess the risk levels. The possibility to repeat the survey at time intervals more or less close together depending on the measured levels of risk and to compare the output allows following the trend of the dangerous phenomena. In conclusion, for inaccessible locations of dangerous rocky bodies the UAV survey coupled with a GIS methodology proved to be a key engineering tool for the management of environmental risks.

  15. MANAGEMENT OF ENVIRONMENTAL RISKS IN COASTAL AREAS

    Directory of Open Access Journals (Sweden)

    M. Caprioli

    2015-08-01

    Full Text Available The present work deals with the assessment and management of environmental risk conditions in a typical costal area of Southern Italy. This area, located in the Salento peninsula, is subject to recurrent widespread instability phenomena due to the presence of steep rocky cliffs. Along the coast there are numerous beach resorts that are very crowded in the summer season. The environmental hazard deriving from the possible rock falls is unacceptably high for the people safety. Moreover, the land-based mapping of the dangerous natural structures is very difficult and time and resources expending. In this context, we carried out an UAV survey along about 1 km of coast, near the towns of San Foca, Torre dell’Orso and Sant’ Andrea ( Lecce, Southern Italy. The UAV platform was equipped with a photogrammetric measurement system that allowed us to obtain a mobile mapping of the fractured fronts of dangerous rocky cliffs. UAV-images data have been processed using dedicated software (Agisoft Photoscan. The total error obtained was of centimeter-order that is a very satisfactory result. The environmental information has been arranged in an ArcGIS platform in order to assess the risk levels. The possibility to repeat the survey at time intervals more or less close together depending on the measured levels of risk and to compare the output allows following the trend of the dangerous phenomena. In conclusion, for inaccessible locations of dangerous rocky bodies the UAV survey coupled with a GIS methodology proved to be a key engineering tool for the management of environmental risks.

  16. Research on Knowledge-Oriented Supply ChainRisk Management System Model

    OpenAIRE

    Yingchun Guo

    2011-01-01

    Based on analyzing the characteristics of supply chain risk management under the influences of knowledge, in this paper integrates basic theories and methods of knowledge management into the process of risk management, builds a knowledge-oriented supply chain risk management system model, and proposes relevant strategies, presenting references for practical application of knowledge-oriented supply chain risk management. By means of acquiring, storing, sharing, and transferring supply chain ri...

  17. Environmental asset management: Risk management systems

    CSIR Research Space (South Africa)

    Naudé, Brian

    2017-07-01

    Full Text Available dire risk (E Molewa, 2016). The Figures 5, 6, and 7 (UNDOC, 2016) indicate the current trends with respect to the illegal trade in rhino horn. The trend indicates growing poaching with a possible decrease in the marginal rate during 2014... products in the long term in the international domain. The large, relatively poor communities, with a high unemployment rate, living directly next to the KNP are in need of a source of income. This income is attainable through poaching owing to the local...

  18. Continuing Developments in PV Risk Management: Strategies, Solutions, and Implications

    Energy Technology Data Exchange (ETDEWEB)

    Lowder, T.; Mendelsohn, M.; Speer, B.; Hill, R.

    2013-02-01

    As the PV industry matures, successful risk management practices will become more imperative to ensure investor confidence, control costs, and facilitate further growth. This report discusses several key aspects of risk management during the commercial- and utility-scale project life cycle, from identification of risks, to the process of mitigating and allocating those risks among project parties, to transferring those risks through insurance. The report also explores novel techniques in PV risk management, options to offload risks onto the capital markets, and innovative insurance policies (namely warranty policies) that address risks unique to the PV sector. One of the major justifications for robust risk management in the PV industry is the cost-reduction opportunities it affords. If the PV industry can demonstrate the capability to successfully manage its risks, thereby inspiring confidence in financiers, it may be able to obtain a lower cost of capital in future transactions. A lower cost of capital translates to a lower cost of energy, which will in turn enhance PV?s competitiveness at a time when it will have to rely less on subsidies to support its market penetration.

  19. Risk Management and Uncertainty in Infrastructure Projects

    DEFF Research Database (Denmark)

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

    2014-01-01

    and infrastructure projects in Denmark. These projects are characterized by long durations involving substantial materiality, high uncertainty, ambiguity, and complexity. Yet, they are also subjected to risk management that operates according to a standardized Ôbest practiceÕ control approach – as if these hospital......The assumption that large complex projects should be managed in order to reduce uncertainty and increase predictability is not new. What is relatively new, however, is that uncertainty reduction can and should be obtained through formal risk management approaches. We question both assumptions...... by addressing a more fundamental question about the role of knowledge in current risk management practices. Inquiries into the predominant approaches to risk management in large infrastructure and construction projects reveal their assumptions about knowledge and we discuss the ramifications these have...

  20. The new risk paradigm for chemical process security and safety.

    Science.gov (United States)

    Moore, David A

    2004-11-11

    The world of safety and security in the chemical process industries has certainly changed since 11 September, but the biggest challenges may be yet to come. This paper will explain that there is a new risk management paradigm for chemical security, discuss the differences in interpreting this risk versus accidental risk, and identify the challenges we can anticipate will occur in the future on this issue. Companies need to be ready to manage the new chemical security responsibilities and to exceed the expectations of the public and regulators. This paper will outline the challenge and a suggested course of action.

  1. Managing Process Variants in the Process Life Cycle

    NARCIS (Netherlands)

    Hallerbach, A.; Bauer, Th.; Reichert, M.U.

    2007-01-01

    When designing process-aware information systems, often variants of the same process have to be specified. Each variant then constitutes an adjustment of a particular process to specific requirements building the process context. Current Business Process Management (BPM) tools do not adequately

  2. Sustainable Risk Management in the Banking Sector

    Directory of Open Access Journals (Sweden)

    Županović Ivo

    2014-01-01

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

  3. FINANCIAL RISK MANAGEMENT IN TRADE BANKS

    Directory of Open Access Journals (Sweden)

    Ms. Tamara Ye. Kononenko

    2016-09-01

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

  4. Individual Risk Management for Digital Payment Systems

    OpenAIRE

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

    2002-01-01

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

  5. Quality Risk Management of Compliant Excipients

    Directory of Open Access Journals (Sweden)

    Brian Carlin

    2012-12-01

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

  6. Intentional risk management through complex networks analysis

    CERN Document Server

    Chapela, Victor; Moral, Santiago; Romance, Miguel

    2015-01-01

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

  7. Business process management and IT management: The missing integration

    DEFF Research Database (Denmark)

    Rahimi, Fatemeh; Møller, Charles; Hvam, Lars

    2016-01-01

    The importance of business processes and the centrality of IT to contemporary organizations' performance calls for a specific focus on business process management and IT management. Despite the wide scope of business process management covering both business and IT domains, and the profound impact...... of IT on process innovations, the association between business process management and IT management is under-explored. Drawing on a literature analysis of the capabilities of business process and IT governance frameworks and findings from a case study, we propose the need for horizontal integration between the two...... management functions to enable strategic and operational business - IT alignment. We further argue that the role of IT in an organization influences the direction of integration between the two functions and thus the choice of integration mechanisms. Using case study findings, we propose...

  8. Risk Management: An International Perspective.

    Science.gov (United States)

    Garvey, Daniel

    1998-01-01

    Focuses on risks and challenges of conducting adventure programming in foreign countries. Recommends actions to take before the crisis (involving assumptions, risk evaluation, emergency evacuation plans, awareness of medical-care costs, and foreign communications systems, family procedures plan, briefings); during the crisis (meeting staff and…

  9. Managing Software Project Risks (Analysis Phase) with Proposed Fuzzy Regression Analysis Modelling Techniques with Fuzzy Concepts

    OpenAIRE

    Elzamly, Abdelrafe; Hussin, Burairah

    2014-01-01

    The aim of this paper is to propose new mining techniques by which we can study the impact of different risk management techniques and different software risk factors on software analysis development projects. The new mining technique uses the fuzzy multiple regression analysis techniques with fuzzy concepts to manage the software risks in a software project and mitigating risk with software process improvement. Top ten software risk factors in analysis phase and thirty risk management techni...

  10. Weather risk management: a South African market perspective.

    OpenAIRE

    2008-01-01

    The weather derivative concept was created in the United States of America as a result of the deregulation of its energy industry. When other countries learnt of this concept they decided to enter the market as well. Thus a body called the Weather Risk Management Association was established. This body’s main function is to collate information pertaining to weather risk and to help the process of advancement and growth within the market. The weather risk market has grown tremendously and vario...

  11. 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.

  12. Practical Methods for Information Security Risk Management

    Directory of Open Access Journals (Sweden)

    Cristian AMANCEI

    2011-01-01

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

  13. Practical Risk Management for the CIO

    CERN Document Server

    Scherling, Mark

    2007-01-01

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

  14. Aspects of the BPRIM Language for Risk Driven Process Engineering

    Science.gov (United States)

    Sienou, Amadou; Lamine, Elyes; Pingaud, Hervé; Karduck, Achim

    Nowadays organizations are exposed to frequent changes in business environment requiring continuous alignment of business processes on business strategies. This agility requires methods promoted in enterprise engineering approaches. Risk consideration in enterprise engineering is getting important since the business environment is becoming more and more competitive and unpredictable. Business processes are subject to the same quality requirements as material and human resources. Thus, process management is supposed to tackle value creation challenges but also the ones related to value preservation. Our research considers risk driven business process design as an integral part of enterprise engineering. A graphical modelling language for risk driven business process engineering was introduced in former research. This paper extends the language and handles questions related to modelling risk in organisational context.

  15. Risk management and decision rules for light water reactor

    Energy Technology Data Exchange (ETDEWEB)

    Griesmeyer, J. M.; Okrent, D.

    1981-01-01

    The process of developing and adopting safety objectives in quantitative terms can provide a basis for focusing societal decision making on the suitability of such objectives and upon questions of compliance with those objectives. A preliminary proposal for a light water reactor (LWR) risk management framework is presented as part of that process.

  16. Managing health and safety risks: Implications for tailoring health and safety management system practices.

    Science.gov (United States)

    Willmer, D R; Haas, E J

    2016-01-01

    As national and international health and safety management system (HSMS) standards are voluntarily accepted or regulated into practice, organizations are making an effort to modify and integrate strategic elements of a connected management system into their daily risk management practices. In high-risk industries such as mining, that effort takes on added importance. The mining industry has long recognized the importance of a more integrated approach to recognizing and responding to site-specific risks, encouraging the adoption of a risk-based management framework. Recently, the U.S. National Mining Association led the development of an industry-specific HSMS built on the strategic frameworks of ANSI: Z10, OHSAS 18001, The American Chemistry Council's Responsible Care, and ILO-OSH 2001. All of these standards provide strategic guidance and focus on how to incorporate a plan-do-check-act cycle into the identification, management and evaluation of worksite risks. This paper details an exploratory study into whether practices associated with executing a risk-based management framework are visible through the actions of an organization's site-level management of health and safety risks. The results of this study show ways that site-level leaders manage day-to-day risk at their operations that can be characterized according to practices associated with a risk-based management framework. Having tangible operational examples of day-to-day risk management can serve as a starting point for evaluating field-level risk assessment efforts and their alignment to overall company efforts at effective risk mitigation through a HSMS or other processes.

  17. Evaluation of risk management status for Croatian logistic operators

    Directory of Open Access Journals (Sweden)

    Diana BOŽIĆ

    2010-01-01

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

  18. Implementing Lean Practices: Managing the Transformation Risks

    Directory of Open Access Journals (Sweden)

    Antony Pearce

    2013-01-01

    Full Text Available Insightful implementation of lean is necessary for high-value manufacturing and is complementary to strategic decision making regarding manufacture. However lean can be difficult to implement in specific organisations. One of the difficulties is deciding which of the many lean tools to apply and when to apply them. A complicating factor is change management. Lean implementation is a transformational process and needs to support organisational development alongside process improvement. We develop a method based on risk management to identify which lean tools are most appropriate for a specific organisational setting. This permits the situational and contingency variables to be accommodated in the lean transformation. The method is demonstrated by application to a small manufacturing organisation with a high-variety low-volume business model. Thus it is possible, given contextual knowledge of the organisation, to predict which lean methods are most important in the situation. This enables the prioritisation of organisational effort towards lean methods that are relevant to the organisation at that particular time in its development.

  19. Risk management in agriculture under climate changes

    Directory of Open Access Journals (Sweden)

    Njegomir Vladimir

    2016-01-01

    Full Text Available Agricultural production is exposed to the effects of various risks, of which the production risks represent its specificity, given that they stem from the fact that the production is done outdoor and that it encompass management of living beings. Climate changes directly affect the production risks of agricultural production. In the literature, climate change are relatively sufficient researched but there are scarce studies that deal with the theme of risk management in agricultural production and in particular the management of risks under climate changes. With this in mind as the goal of the paper we have determined the need to point out on the importance and forms of agricultural risk management under climate changes. In an effort to achieve the goal, in the paper we first point out to the basic characteristics of agricultural production risk management and then we point to the application of preventive measures, the role of the state as well as the comparative role of insurance. As the impact of climate changes have strongly negative impact on insurance companies that provide insurance for agricultural risks, we consider the issue of whether the conclusion of agricultural insurance contracts should be mandatory or voluntary.

  20. Characteristics of Managing Operational Banking Risk

    Directory of Open Access Journals (Sweden)

    Adela Socol

    2008-12-01

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

  1. 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

  2. Risk management on the winegrowing farms at Northwest Croatia

    Directory of Open Access Journals (Sweden)

    Hrvoje SMRKULJ

    2016-02-01

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

  3. Professional Emotion Management as a Rehearsal Process

    National Research Council Canada - National Science Library

    Bergman Blix, Stina

    2015-01-01

    ...’ deliberate emotion management as an embodied professionalisation process, focusing the relation between emotional experience and expression through the concepts of decoupling, double agency and habituation...

  4. Process-based software project management

    CERN Document Server

    Goodman, F Alan

    2006-01-01

    Not connecting software project management (SPM) to actual, real-world development processes can lead to a complete divorcing of SPM to software engineering that can undermine any successful software project. By explaining how a layered process architectural model improves operational efficiency, Process-Based Software Project Management outlines a new method that is more effective than the traditional method when dealing with SPM. With a clear and easy-to-read approach, the book discusses the benefits of an integrated project management-process management connection. The described tight coup

  5. Business Process Management Theory and Applications

    CERN Document Server

    2013-01-01

    Business Process Management (BPM) has been in existence for decades. It  uses, complements, integrates and extends theories, methods and tools from  other scientific disciplines like: strategic management, information technology, managerial accounting, operations management etc. During this period the main focus themes of researchers and professionals in BPM  were: business process modeling, business process analysis, activity based costing, business process simulation, performance measurement, workflow management, the link between information technology and BPM for process automation etc. More recently the focus moved to subjects like Knowledge Management, Enterprise Resource Planning (ERP) Systems, Service Oriented Architectures (SOAs), Process Intelligence (PI) and even  Social Networks. In this collection of papers we present a review of the work and the outcomes achieved in the classic BPM fields as well as a deeper insight on recent advances in BPM. We present a review of business process modeling a...

  6. Wildfire Risk Management: Challenges and Opportunities

    Science.gov (United States)

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

    2014-12-01

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

  7. Small Business and the Risk Management Program

    Science.gov (United States)

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

  8. Roadway related tort liability and risk management.

    Science.gov (United States)

    2010-06-01

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

  9. Risk management integration into complex project organizations

    Science.gov (United States)

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

    2002-01-01

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

  10. From CSR to Social Risk Management

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    2014-01-01

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

  11. Risk management applied to security. Final report

    Energy Technology Data Exchange (ETDEWEB)

    Renis, T.A.

    1985-01-01

    This report is a small part of a large integrated program of FEMA that has been designated Protection of Industrial Capability (PIC). For an overview of the work performed at this laboratory, see report number UCID-20296 entitled Protection of Industrial Capability Program Pre-Decision Support. Current risk management theory and practices were determined through a literature search and interviews with risk managers from critical industries. This report details the results of our literature search and interviews and evaluates the security preparedness implications of current practices. This report contains recommendations for risk management approaches that can be presented to private industry to assist them in protecting assets and a research plan that FEMA can undertake to develop better risk management techniques.

  12. 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

  13. Multicriteria Decision Framework for Cybersecurity Risk Assessment and Management.

    Science.gov (United States)

    Ganin, Alexander A; Quach, Phuoc; Panwar, Mahesh; Collier, Zachary A; Keisler, Jeffrey M; Marchese, Dayton; Linkov, Igor

    2017-09-05

    Risk assessors and managers face many difficult challenges related to novel cyber systems. Among these challenges are the constantly changing nature of cyber systems caused by technical advances, their distribution across the physical, information, and sociocognitive domains, and the complex network structures often including thousands of nodes. Here, we review probabilistic and risk-based decision-making techniques applied to cyber systems and conclude that existing approaches typically do not address all components of the risk assessment triplet (threat, vulnerability, consequence) and lack the ability to integrate across multiple domains of cyber systems to provide guidance for enhancing cybersecurity. We present a decision-analysis-based approach that quantifies threat, vulnerability, and consequences through a set of criteria designed to assess the overall utility of cybersecurity management alternatives. The proposed framework bridges the gap between risk assessment and risk management, allowing an analyst to ensure a structured and transparent process of selecting risk management alternatives. The use of this technique is illustrated for a hypothetical, but realistic, case study exemplifying the process of evaluating and ranking five cybersecurity enhancement strategies. The approach presented does not necessarily eliminate biases and subjectivity necessary for selecting countermeasures, but provides justifiable methods for selecting risk management actions consistent with stakeholder and decisionmaker values and technical data. Published 2017. This article is a U.S. Government work and is in the public domain in the U.S.A.

  14. Self-management of vascular risk factors

    OpenAIRE

    Sol-de Rijk, B.G.M.

    2009-01-01

    Summary The aim of this thesis was to provide insight into the potential of a self-management approach in treatment of vascular risk factors and to develop a self-management intervention. Furthermore to examine if this intervention, based on self-efficacy promoting theory, is effective in reducing vascular risk factors in patients with established vascular diseases. Patients with different manifestations of vascular diseases appeared to have high levels of self-efficacy concerning the self-ma...

  15. 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.

  16. A Proactive and Top-Down Approach to Managing Risk at NASA

    Science.gov (United States)

    Dezfuli, Homayoon

    2010-01-01

    Our ultimate goal is to manage risk in a holistic and coherent fashion across the Agency: a) The RIDM process is intended to risk-inform direction-setting decisions. c) The CRM process is intended to manage risk associated with the implementation of baseline performance requirements. Currently we are working on: a) Enhancements to the CRM process. b) Better integration of the RIDM and CRM processes. c) Better integration of institutional risk considerations into RM framework.

  17. Risk Management of P2P Internet Financing Service Platform

    Science.gov (United States)

    Yalei, Li

    2017-09-01

    Since 2005, the world’s first P2P Internet financing service platform Zopa in UK was introduced, in the development of “Internet +” trend, P2P Internet financing service platform has been developed rapidly. In 2007, China’s first P2P platform “filming loan” was established, marking the P2P Internet financing service platform to enter China and the rapid development. At the same time, China’s P2P Internet financing service platform also appeared in different forms of risk. This paper focuses on the analysis of the causes of risk of P2P Internet financing service platform and the performance of risk management process. It provides a solution to the Internet risk management plan, and explains the risk management system of the whole P2P Internet financing service platform and the future development direction.

  18. BUSINESS PROCESS REENGINEERING AS THE METHOD OF PROCESS MANAGEMENT

    Directory of Open Access Journals (Sweden)

    O. Honcharova

    2013-09-01

    Full Text Available The article is devoted to the analysis of process management approach. The main understanding of process management approach has been researched in the article. The definition of process and process management has been given. Also the methods of business process improvement has been analyzed, among them are fast-analysis solution technology (FAST, benchmarking, reprojecting and reengineering. The main results of using business process improvement have been described in figures of reducing cycle time, costs and errors. Also the tasks of business process reengineering have been noticed. The main stages of business process reengineering have been noticed. The main efficiency results of business process reengineering and its success factors have been determined.

  19. Development of economic consequence methodology for process risk analysis.

    Science.gov (United States)

    Zadakbar, Omid; Khan, Faisal; Imtiaz, Syed

    2015-04-01

    A comprehensive methodology for economic consequence analysis with appropriate models for risk analysis of process systems is proposed. This methodology uses loss functions to relate process deviations in a given scenario to economic losses. It consists of four steps: definition of a scenario, identification of losses, quantification of losses, and integration of losses. In this methodology, the process deviations that contribute to a given accident scenario are identified and mapped to assess potential consequences. Losses are assessed with an appropriate loss function (revised Taguchi, modified inverted normal) for each type of loss. The total loss is quantified by integrating different loss functions. The proposed methodology has been examined on two industrial case studies. Implementation of this new economic consequence methodology in quantitative risk assessment will provide better understanding and quantification of risk. This will improve design, decision making, and risk management strategies. © 2014 Society for Risk Analysis.

  20. New manager's taking-charge process.

    Science.gov (United States)

    Kupperschmidt, B R

    2001-12-01

    Managers new to organizations face unique challenges. To enhance effectiveness, they must use an integrated, systematic process during their first six months. The author suggests strategies to assist with this taking-charge process.

  1. The Study Elements and Indicators of Risk Management System for Secondary Schools in Thailand

    Science.gov (United States)

    Wandee, Methenan; Sirisuthi, Chaiyuth; Leamvijarn, Subunn

    2017-01-01

    The purposes of this research aimed 1) to study the elements and indicators of risk management system for secondary schools in Thailand. 2) to study suitable the elements and indicators of the risk management system for secondary schools in Thailand. 3) to study the results of CFA (Confirmatory Factors Analysis) risk management process of risk…

  2. Management by process based systems and safety focus; Verksamhetsstyrning med process-baserade ledningssystem och saekerhetsfokus

    Energy Technology Data Exchange (ETDEWEB)

    Rydnert, Bo; Groenlund, Bjoern [SIS Forum AB, Stockholm (Sweden)

    2005-12-15

    An initiative from The Swedish Nuclear Power Inspectorate led to this study carried out in the late autumn of 2005. The objective was to understand in more detail how an increasing use of process management affects organisations, on the one hand regarding risks and security, on the other hand regarding management by objectives and other management and operative effects. The main method was interviewing representatives of companies and independent experts. More than 20 interviews were carried out. In addition a literature study was made. All participating companies are using Management Systems based on processes. However, the methods chosen, and the results achieved, vary extensively. Thus, there are surprisingly few examples of complete and effective management by processes. Yet there is no doubt that management by processes is effective and efficient. Overall goals are reached, business results are achieved in more reliable ways and customers are more satisfied. The weaknesses found can be translated into a few comprehensive recommendations. A clear, structured and acknowledged model should be used and the processes should be described unambiguously. The changed management roles should be described and obeyed extremely legibly. New types of process objectives need to be formulated. In addition one fact needs to be observed and effectively fended off. Changes are often met by mental opposition on management level, as well as among co-workers. This fact needs attention and leadership. Safety development is closely related to the design and operation of a business management system and its continual improvement. A deep understanding of what constitutes an efficient and effective management system affects the understanding of safety. safety culture and abilities to achieve safety goals. Concerning risk, the opinions were unambiguous. Management by processes as such does not result in any further risks. On the contrary. Processes give a clear view of production and

  3. Self-management of vascular risk factors

    NARCIS (Netherlands)

    Sol-de Rijk, B.G.M.

    2009-01-01

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

  4. Managing the training process in bodybuilding

    OpenAIRE

    Netík, Tomáš

    2011-01-01

    Anotation Title: Managing the training process in bodybuilding This thesis describes the sport of bodybuilding and its training process. It also describes aspects of managing the training process and based on own research determines what impact the training process is applied to changes in the state of training and performance. There is also considering the impact of specific training methods and intensification. In the research of this thesis, we used different testing methods. We performed ...

  5. Risk management, derivatives and shariah compliance

    Science.gov (United States)

    Bacha, Obiyathulla Ismath

    2013-04-01

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

  6. Board of directors and risk management

    NARCIS (Netherlands)

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

    2013-01-01

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

  7. Management of drought risk under global warming

    Science.gov (United States)

    Zhang, Qiang; Han, Lanying; Jia, Jianying; Song, Lingling; Wang, Jinsong

    2016-07-01

    Drought is a serious ecological problem around the world, and its impact on crops and water availability for humans can jeopardize human life. Although drought has always been common, the drought risk has become increasingly prominent because of the climatic warming that has occurred during the past century. However, it still does not comprehensively understand the mechanisms that determine the occurrence of the drought risk it poses to humans, particularly in the context of global climate change. In this paper, we summarize the progress of research on drought and the associated risk, introduce the principle of a drought "transition" from one stage to another, synthesize the characteristics of key factors and their interactions, discuss the potential effect of climatic warming on drought risk, and use this discussion to define the basic requirements for a drought risk management system. We also discuss the main measures that can be used to prevent or mitigate droughts in the context of a risk management strategy.

  8. A quality risk management model approach for cell therapy manufacturing.

    Science.gov (United States)

    Lopez, Fabio; Di Bartolo, Chiara; Piazza, Tommaso; Passannanti, Antonino; Gerlach, Jörg C; Gridelli, Bruno; Triolo, Fabio

    2010-12-01

    International regulatory authorities view risk management as an essential production need for the development of innovative, somatic cell-based therapies in regenerative medicine. The available risk management guidelines, however, provide little guidance on specific risk analysis approaches and procedures applicable in clinical cell therapy manufacturing. This raises a number of problems. Cell manufacturing is a poorly automated process, prone to operator-introduced variations, and affected by heterogeneity of the processed organs/tissues and lot-dependent variability of reagent (e.g., collagenase) efficiency. In this study, the principal challenges faced in a cell-based product manufacturing context (i.e., high dependence on human intervention and absence of reference standards for acceptable risk levels) are identified and addressed, and a risk management model approach applicable to manufacturing of cells for clinical use is described for the first time. The use of the heuristic and pseudo-quantitative failure mode and effect analysis/failure mode and critical effect analysis risk analysis technique associated with direct estimation of severity, occurrence, and detection is, in this specific context, as effective as, but more efficient than, the analytic hierarchy process. Moreover, a severity/occurrence matrix and Pareto analysis can be successfully adopted to identify priority failure modes on which to act to mitigate risks. The application of this approach to clinical cell therapy manufacturing in regenerative medicine is also discussed. © 2010 Society for Risk Analysis.

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

    OpenAIRE

    Nadia Carmen ENE

    2005-01-01

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

  10. Modelling of Risk Management for Product Development of Yogurt Drink Using House of Risk (HOR Method

    Directory of Open Access Journals (Sweden)

    Nur Eko Wahyudin

    2016-12-01

    Full Text Available Abstract. Product Development is essential for the company to stay steady or advance in the market competition. However, the main challenge in product development is associated with the uncertaincy risks that may appeared during the design process. Such risks may affect the success rate of the product development and may contribute either to a small or a huge loss, in which the sustainability of the company can also be affected. To mitigate the risks in product development, risk management is critical. CV. XYZ is a company producing dairy-based products such as mozzarella cheese and yogurt. This research is aimed to identify the potential appeared risks, to arrange the priority order of risk agents and to conceptualize the risk mitigation strategy to be applied. A Yogurt drink product development is needed by CV. XYZ to support the company goals of the product and market expansion. House of Risk (HOR method was used in this research. Two phases included in the identification process, namely marketing and product development design. The research results have examined 20 risks with 27 identified risk agents. Using the Aggregate Risk Potential (ARP value, and Pareto 80:20 principal, this study provides a strategic guideline as how to mitigate the top-three identified risk agents. Keywords: House of Risk (HOR, Risk Management, Product Development, Yogurt Drink

  11. Enterprise Risk Management "More than a Concept"

    OpenAIRE

    el baradei, mostafa

    2006-01-01

    The aim of this dissertation is to explore a new area of risk management where risk is the center of the organization decisions. ERM is a flexible concept that needs knowledge and thinking more than money and resources. The dissertation presents a true application of the ERM on a small company. It proves that "Thinking risk" can be applied in a small organization and can play a major role in its success.

  12. Information needs for risk management/communication

    Energy Technology Data Exchange (ETDEWEB)

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

    1990-12-31

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

  13. Cost effective management of space venture risks

    Science.gov (United States)

    Giuntini, Ronald E.; Storm, Richard E.

    1986-01-01

    The development of a model for the cost-effective management of space venture risks is discussed. The risk assessment and control program of insurance companies is examined. A simplified system development cycle which consists of a conceptual design phase, a preliminary design phase, a final design phase, a construction phase, and a system operations and maintenance phase is described. The model incorporates insurance safety risk methods and reliability engineering, and testing practices used in the development of large aerospace and defense systems.

  14. Introduction of Risk Management into Municipal Offices Across Poland as an Example of Organizational Change

    OpenAIRE

    Anna Pikos

    2015-01-01

    Purpose: The aim of this paper is to determine the factors that influence the process of implementation of risk management process into municipal offices across Poland. Methodology: The Polish Public Finance Act requires public sector entities to put in place a risk management system within the framework of management control. The author conducted in-depth interviews with key personnel responsible for risk management in public administration units. Findings: The results of the resear...

  15. New products in risk management : integrated products

    Energy Technology Data Exchange (ETDEWEB)

    Bagby, M. [Aon Reed Stenhouse, Calgary, AB (Canada)

    1999-05-01

    The issue of integrated risk in the insurance sector of the financial services industry was discussed. The concept of integrated risk is based on the fact that there are efficiencies to be gained by aggregating risk through time. The presentation focuses on the renewed interest in integrated risk management that addresses the corporation`s entire portfolio of risks and attempts to seek out single source solutions which allow the portfolio of risks to be retained, transferred or financed over time in a productive manner. The insurance sector`s response to supplying the demand for integrated risk solutions by the energy industry is outlined. Guidelines for creating an integrated risk program are also provided.

  16. Global Container Management Process Improvements

    Science.gov (United States)

    2015-06-19

    School of Engineering and Management Air Force Institute of Technology Air University Air Education and Training Command In Partial...ability to easily track budgeting, employee scheduling, and paperless documentations of an entire business system have also improved with technology...Ritenour High School in Overland, Missouri. She finished her undergraduate studies at Angelo State University in San Angelo, Texas where she graduated

  17. Delegation: A Fundamental Management Process.

    Science.gov (United States)

    Rees, Ruth

    1988-01-01

    Describes the seven steps involved in delegation: task identification, analysis of skill requirements; delegate selection, communication of performance criteria, assignment of task and necessary resources, monitoring procedures, and feedback to delegate. Outlines the benefits of delegation to the organization, the manager, and subordinates.…

  18. A comprehensive Network Security Risk Model for process control networks.

    Science.gov (United States)

    Henry, Matthew H; Haimes, Yacov Y

    2009-02-01

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

  19. Management oriented process; Gestion orientada a Procesos

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2004-07-01

    ANAV decided to implement process-oriented management by adopting the U. S. NEI (Nuclear Electric Industry) model. The article describes the initial phases of the project, its current status and future prospects. The project has been considered as an improvement in the areas of organization and human factors. Recently, IAEA standard drafts are including processes as an accepted management model. (Author)

  20. Risk management in the different phases of a construction project:a study of actors' involvement

    OpenAIRE

    Osipova, Ekaterina

    2007-01-01

    The results from a questionnaire survey of risk management in the different phases of a construction project are presented. The participants of the study were clients, contractors and consultants working in Sweden. We analysed the involvement of these actors in the project phases, their roles in the risk management process in particular and their influence on risk management. We show that the planning and production phases of a construction project are the most important for risk management, ...

  1. Risk Management on the National Compact Stellarator Project (NCSX)

    Energy Technology Data Exchange (ETDEWEB)

    Risk Management on the National Compact Stellarator Project (NCSX)

    2009-02-06

    In its simplest form, risk management is a continuous assessment from project start to completion that identifies what can impact your project (i.e., what the risks are)., which of these risks are important, and identification and implementation of strategies to deal with these risks (both threats and opportunities). The National Compact Stellerator Experiment (NCSX) Project was a "first-of-a-kind" fusion experiment that was technically very challenging, primarily resulting from the complex component geometries and tight tolerances. Initial risk quantification approaches proved inadequate and contributed to the escalation of costs as the design evolved and construction started. After the Project was well into construction, a new risk management plan was adopted. This plan was based on successful Department of Energy (DOE) and industrial risk management precepts. This paper will address the importance of effective risk management processes and lessons learned. It is of note that a steady reduction of risk was observed in the last six months of the project.

  2. Improvement of Construction Project Management Processes

    OpenAIRE

    Nazarko, J.

    2017-01-01

    The common denominator of the five papers published in the current edition of the Journal of Engineering, Project, and Production Management is the improvement of construction project management processes for effective use of resources. Execution of proper project management processes is widely recognized as a key success factor influencing likelihood of project success (Alleman, 2014). It is noticeable that four out of five papers in this issue of the Journal are authored or co-authored by I...

  3. Information Security Risk Management: An Intelligence-Driven Approach

    Directory of Open Access Journals (Sweden)

    Jeb Webb

    2014-11-01

    Full Text Available Three deficiencies exist in the organisational practice of information security risk management: risk assessments are commonly perfunctory, security risks are estimated without investigation; risk is assessed on an occasional (as opposed to continuous basis. These tendencies indicate that important data is being missed and that the situation awareness of decision-makers in many organisations is currently inadequate. This research-in-progress paper uses Endsley's situation awareness theory, and examines how the structure and functions of the US national security intelligence enterprise—a revelatory case of enterprise situation awareness development in security and risk management—correspond with Endsley’s theoretical model, and how facets of the US enterprise might be adapted to improve situation awareness in the information security risk management process of organisations.

  4. INTEGRATION PROCESS IN MANAGEMENT SCIENCE - THEORETICAL REVIEW

    Directory of Open Access Journals (Sweden)

    IOAN CONSTANTIN DIMA

    2011-01-01

    Full Text Available Complexity of phenomena found in the social, economic and environmental sphere of modern economic systems constitute one of factors in favor of attempts to apply examination approaches based on the analysis of the management integration phenomena in modern theoretical and practical studies concerning management. The aim to this paper is to present chosen approaches to integration process in theory of management science mainly strategic management and system approach.

  5. Managing the microbiological risks of drinking water.

    Science.gov (United States)

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

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

  6. Innovating the tax compliance management process

    Directory of Open Access Journals (Sweden)

    Dimitrijević Marina

    2014-01-01

    Full Text Available The taxpayers' observance of tax legislation (tax compliance is important for every tax authority. This issue is particularly relevant in the contemporary circumstances when the application of tax laws occurs within a complex and ever-changing environment. Despite the differences underlying national tax policies, tax legislations, tax administration and tax moral, the primary goal of taxation remains the same: taxes should be collected in accordance with the law in order to provide for building and preserving the taxpayers' confidence in the tax system and its effective administration. Consequently, the activities of tax authorities in tax procedure should promote a high degree of voluntary tax compliance and lead to minimizing the occurrence of various forms of non­compliance. There is a wide range of diverse factors underlying tax compliance. The understanding of these factors enables tax authorities to establish the particular reasons for non-compliance and to devise specific activities and measures which will be an incentive for taxpayers to revert to tax compliance. These goals may be accomplished through the process of tax compliance management. Tax compliance management is a structured and systematic process of monitoring the taxpayers' compliance, which also includes decisions on the essential elements for the development of tax compliance and the treatment of identified tax compliance risks. The innovations in this process are aimed at: establishing the adequate balance and framework for the evaluation of activities and measures concerning tax law and tax procedures; improving information transparency and taxpayers' education; establishing tax control; and instituting adequate legal proceedings in response to non-compliance. These activities are expected to contribute to a more successful application of tax laws in the future.

  7. Probability distributions in risk management operations

    CERN Document Server

    Artikis, Constantinos

    2015-01-01

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

  8. 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

  9. Risk Management Techniques and Practice Workshop Workshop Report

    Energy Technology Data Exchange (ETDEWEB)

    Quinn, T; Zosel, M

    2008-12-02

    At the request of the Department of Energy (DOE) Office of Science (SC), Lawrence Livermore National Laboratory (LLNL) hosted a two-day Risk Management Techniques and Practice (RMTAP) workshop held September 18-19 at the Hotel Nikko in San Francisco. The purpose of the workshop, which was sponsored by the SC/Advanced Scientific Computing Research (ASCR) program and the National Nuclear Security Administration (NNSA)/Advanced Simulation and Computing (ASC) program, was to assess current and emerging techniques, practices, and lessons learned for effectively identifying, understanding, managing, and mitigating the risks associated with acquiring leading-edge computing systems at high-performance computing centers (HPCCs). Representatives from fifteen high-performance computing (HPC) organizations, four HPC vendor partners, and three government agencies attended the workshop. The overall workshop findings were: (1) Standard risk management techniques and tools are in the aggregate applicable to projects at HPCCs and are commonly employed by the HPC community; (2) HPC projects have characteristics that necessitate a tailoring of the standard risk management practices; (3) All HPCC acquisition projects can benefit by employing risk management, but the specific choice of risk management processes and tools is less important to the success of the project; (4) The special relationship between the HPCCs and HPC vendors must be reflected in the risk management strategy; (5) Best practices findings include developing a prioritized risk register with special attention to the top risks, establishing a practice of regular meetings and status updates with the platform partner, supporting regular and open reviews that engage the interests and expertise of a wide range of staff and stakeholders, and documenting and sharing the acquisition/build/deployment experience; and (6) Top risk categories include system scaling issues, request for proposal/contract and acceptance testing, and

  10. A Framework for Drought Risk Management

    Science.gov (United States)

    Apurv, T.; Cai, X.

    2016-12-01

    Drought is one of the most expensive natural disasters as it affects many sectors of the economy. The threat posed by droughts is expected to further increase due to increasing water demands fuelled by increasing population and also due to climate change in many regions. Management of the increasing drought risk requires shift from traditional crisis management approaches to long term strategic planning for reduction of drought risk. This study proposes a framework for management of long term drought risk. The framework uses the system based approach proposed by Tsakiris et al. (2013), in which a watershed is considered as a system and different water sources in the watershed (like groundwater, reservoirs, streams etc.) are considered as subsystems associated with certain water requirements of different sectors. Droughts are defined separately for each subsystem considering water availability and requirement. The percentile based drought indicator framework proposed by Steinemann et al. (2015) is used for defining drought for each subsystem, allowing the selection of thresholds, variables of interest, and time scale which are most relevant for stakeholders dependent on a particular subsystem. Future drought risk under different drought management strategies are assessed using hydrologic models that model both hydrologic and human components of a watershed. The robustness of a management strategy is assessed by simulating system response across a wide range of stochastically generated future climate scenarios. The framework is useful for operational drought management as it allows direct management of drought risks with consideration of different water sources and water users. Steinemann, A., Iacobellis, S.F., Cayan, D.R., (2015) "Developing and evaluating drought indicators for decision-making" J. Hydrometeor. 16 (4), 1793-1803 Tsakiris, G, Nalbantis, I, Vangelis, H, Verbeiren, B, Huysmans, M, Tychon, B, Jacquemin, I, Canters, F, Vanderhaegen, S, Engelen, G

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

    Science.gov (United States)

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

    2013-11-01

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

  12. Desertification risk assessment and management program

    Directory of Open Access Journals (Sweden)

    M. Akbari

    2016-12-01

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

  13. The Architecture of Financial Risk Management Systems

    Directory of Open Access Journals (Sweden)

    Iosif ZIMAN

    2013-01-01

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

  14. Space Station logistics policy - Risk management from the top down

    Science.gov (United States)

    Paules, Granville; Graham, James L., Jr.

    1990-01-01

    Considerations are presented in the area of risk management specifically relating to logistics and system supportability. These considerations form a basis for confident application of concurrent engineering principles to a development program, aiming at simultaneous consideration of support and logistics requirements within the engineering process as the system concept and designs develop. It is shown that, by applying such a process, the chances of minimizing program logistics and supportability risk in the long term can be improved. The problem of analyzing and minimizing integrated logistics risk for the Space Station Freedom Program is discussed.

  15. COMPARATIVE STUDY BETWEEN TRADITIONAL AND ENTERPRISE RISK MANAGEMENT -A THEORETICAL APPROACH

    Directory of Open Access Journals (Sweden)

    Cican Simona-Iulia

    2014-07-01

    Full Text Available The complexity, volatility and unpredictability of the current economic environment are a daily reminder that organizations face many risks. The traditional approach, according to which risk is a necessary evil which must be removed, is no longer sufficient and that is why companies nowadays are forced to spend significant resources to manage risks. Risk transparency is what one looks for; therefore, identification and management of risks within an organization become increasingly necessary for success and longevity. Risk approach has a major role in a company’s ability to avoid, reduce and turn risks into opportunities. Enterprise risk management is a new concept that revolutionizes the traditional approach and summarizes risk management in an integrated, comprehensive and strategic system. Studies use several synonyms for enterprise risk management such as integrated risk management, holistic risk management, global risk management and strategic risk management. Enterprise risk management implements at the end of the last century a new way to deal with risks: the holistic approach. This risks approach – i.e. interaction of several types of risks which become increasingly threatening and varied and may cause more damage than individual risk – brings forward the need of risk management and raises issues at the highest level of company management. For a proper view on company risks, each individual risk and the possibility of risk interaction must be understood. This is essential to establish a risk classification according to their impact on the company. Traditional approach on risk management, as a management function, is limited to only threats and losses, so relatively few organizations see risks as potential earning-generated opportunities. However, risk management process is not radically changed. Enterprise risk management is an improved version of the traditional risk management, created by expanding its scope. The new risk

  16. Risk calculations in the manufacturing technology selection process

    DEFF Research Database (Denmark)

    Farooq, S.; O'Brien, C.

    2010-01-01

    in the shape of opportunities and threats in different decision-making environments. Practical implications - The research quantifies the risk associated with different available manufacturing technology alternatives. This quantification of risk crystallises the process of technology selection decision making...... and supports an industrial manager in achieving objective and comprehensive decisions regarding selection of a manufacturing technology. Originality/value - The paper explains the process of risk calculation in manufacturing technology selection by dividing the decision-making environment into manufacturing......Purpose - The purpose of this paper is to present result obtained from a developed technology selection framework and provide a detailed insight into the risk calculations and their implications in manufacturing technology selection process. Design/methodology/approach - The results illustrated...

  17. Collaborative Management of Risks and Complexity in Banking Systems

    Directory of Open Access Journals (Sweden)

    Ion IVAN

    2012-01-01

    Full Text Available This paper describes types of risks encountered in banking systems and ways to prevent and eliminate them. Banking systems are presented in order to have a view on banking activities and processes that generates risks. The risks in banking processes are analyzed and the collaborative character of risk management is highlighted. A way to control the risk in banking systems through information security is described. Risks arise from system complexity, thus evaluation and comparison of different configurations are bases for improvements. The Halstead relative complexity function synthesizes system complexity from the point of view of the size of the variables analyzed and the heterogeneity between the variables. Section four was realized by Catalin SBORA.

  18. Banking Risk Management in the Light of Basel II

    Directory of Open Access Journals (Sweden)

    Vasile DEDU

    2010-02-01

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

  19. Packaging and transportation risk management and evaluation plan

    Energy Technology Data Exchange (ETDEWEB)

    Rhyne, W.R. [H and R Technical Associates, Inc., Oak Ridge, TN (United States)

    1993-09-01

    Shipments of radioactive materials and hazardous chemicals at the Los Alamos National Laboratory (LANL) are governed by a variety of Federal and state regulations, industrial standards, and LANL processes and procedures. Good judgement is exercised in situations that are not covered by regulations. As a result, the safety record for transporting hazardous materials at LANL has been excellent. However, future decisions should be made such that the decision-making process produces a defensible record of the safety of onsite shipments. This report proposes the development of a risk management tool to meet this need. First, the application of quantitative risk analysis methodology to transportation is presented to provide a framework of understanding. Risk analysis definitions, the basic quantitative risk analysis procedure, quantitative methodologies, transportation data bases, and risk presentation techniques are described. Quantitative risk analysis is frequently complex; but simplified approaches can be used as a management tool to make good decisions. Second, a plan to apply the use of risk management principles to the selection of routes, special administrative controls, and containers for hazardous material transportation at LANL is provided. A risk management tool is proposed that can be used by MAT-2 without substantial support from specialized safety and risk analysis personnel, e.g., HS-3. A workbook approach is proposed that can be automated at a later date. The safety of some types of onsite shipments at LANL is not well documented. Documenting that shipments are safe, i.e., present acceptable risks, will likely require elaborate analyses that should be thoroughly reviewed by safety and risk professionals. These detailed analyses are used as benchmarks and as examples for the use of the proposed tool by MAT-2. Once the benchmarks are established, the workbook can be used by MAT-2 to quantify that safety goals are met by similar shipments.

  20. IT security risk management perceived it security risks in the context of cloud computing

    CERN Document Server

    Ackermann, Tobias

    2014-01-01

    This book provides a comprehensive conceptualization of perceived IT security risk in the Cloud Computing context that is based on six distinct risk dimensions grounded on a structured literature review, Q-sorting, expert interviews, and analysis of data collected from 356 organizations. Additionally, the effects of security risks on negative and positive attitudinal evaluations in IT executives' Cloud Computing adoption decisions are examined. The book's second part presents a mathematical risk quantification framework that can be used to support the IT risk management process of Cloud Comput

  1. LIQUIDITY MANAGEMENT AND CORPORATE RISK

    Directory of Open Access Journals (Sweden)

    Fenyves Veronika

    2011-07-01

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

  2. THE APPLICATION OF MARKOV'S STOCHASTIC PROCESSES IN RISK ASSESSMENT FOR ACCOUNTING INFORMATION SYSTEMS 1

    National Research Council Canada - National Science Library

    Ivan Milojević; Svetlana Ignjatijević; Ivan Mičić

    2017-01-01

    Almost all processes in the area of business management, especially those of determining reliability of the accounting-information system in business management are connected with certain risk, i.e...

  3. Using Risk Assessment Methodologies to Meet Management Objectives

    Science.gov (United States)

    DeMott, D. L.

    2015-01-01

    Corporate and program objectives focus on desired performance and results. ?Management decisions that affect how to meet these objectives now involve a complex mix of: technology, safety issues, operations, process considerations, employee considerations, regulatory requirements, financial concerns and legal issues. ?Risk Assessments are a tool for decision makers to understand potential consequences and be in a position to reduce, mitigate or eliminate costly mistakes or catastrophic failures. Using a risk assessment methodology is only a starting point. ?A risk assessment program provides management with important input in the decision making process. ?A pro-active organization looks to the future to avoid problems, a reactive organization can be blindsided by risks that could have been avoided. ?You get out what you put in, how useful your program is will be up to the individual organization.

  4. Process Management Practices In Healthcare Institutions

    Directory of Open Access Journals (Sweden)

    Şükrü Kılıç

    2015-09-01

    Full Text Available Healthcare institutions differ from other service businesses by their “matrix organizational structure” and “error-free output” requirement. However, the processes stay the same for all organizational activities at different levels. One of the post-modern management approach is to focus on basis of necessary processes and fundamental organizational changes. This case study aims to initially explain the characteristics of healthcare institutions and the basic conceptual properties of process and process management. Then the effect of the “management throughprocesses approach” over organization will be discussed. Finally; process management at healthcare institutions, scope of health care and examples of the other post-modern approaches will be examined with their outputs

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

    NARCIS (Netherlands)

    Zhang, L.; Zhong, L.

    2010-01-01

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

  6. Enterprise risk management in international construction operations

    CERN Document Server

    Zhao, Xianbo; Low, Sui Pheng

    2015-01-01

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

  7. Process Management in Distributed Operating Systems

    NARCIS (Netherlands)

    Nehmer, J.; Mullender, Sape J.

    As part of designing and building the Amoeba distributed operating system, we have come up with a simple set of mechanisms for process management that allows downloading process migration, checkpointing, remote debugging and emulation of alien operating system interfaces. The basic process

  8. Expert System for Data Security Risk Management for SMEs

    Directory of Open Access Journals (Sweden)

    Justinas Janulevičius

    2013-05-01

    Full Text Available Accessibility of expertise and expert inferences is one of the key factors for appropriate expert evaluation. Appropriate and timely expert information allows a smooth process of expertise. Small and medium enterprises (SMEs have limited possibilities to acquire professional expertise for data security risk analysis due to limited finances. A risk management expert system is developed for SMEs with the ability to adapt to various subject domains using ontologies of the field.Article in Lithuanian

  9. The misdiagnosis of epilepsy: Appraising risks and managing uncertainty.

    Science.gov (United States)

    Oto, Maria Meritxell

    2017-01-01

    To present evidence from the literature on the rates, underlying causes and consequences of the misdiagnosis of epilepsy and place these meaningfully within a practical framework of risk appraisal and managed diagnostic uncertainty towards informing a clinical practice that might make misdiagnosis less likely. Narrative review. Misdiagnosis of epilepsy remains common and the consequences for the individual significant. Evidence and critical appraisal are presented as regards the absolute level of risk associated with the false positive diagnosis epilepsy, and reasons as to why those risks need to be appraised against the risks associated to false negative diagnosis. Diagnostic error is not entirely avoidable and a degree of uncertainty, and perforce risk, is intrinsic to the diagnostic process of epilepsy. The risks of a false negative diagnosis of epilepsy must be appraised against the also significant risks of a false positive diagnosis. Crown Copyright © 2016. Published by Elsevier Ltd. All rights reserved.

  10. Risk management of agricultural floods

    Directory of Open Access Journals (Sweden)

    Skakavac Zdravko

    2017-01-01

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

  11. Weather Risk Management in Agriculture

    Directory of Open Access Journals (Sweden)

    Martina Bobriková

    2016-01-01

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

  12. Injury risk management plan for volleyball athletes.

    Science.gov (United States)

    James, Lachlan P; Kelly, Vincent G; Beckman, Emma M

    2014-09-01

    Volleyball is an increasingly popular team sport. As with any competitive sport, there is an inherent risk of injury that must be recognized and collaboratively managed. This article provides a practical approach to the management of volleyball injuries within a team or organization. A brief review of the epidemiological data is presented which establishes (i) ankle sprain, (ii) shoulder overuse injury, (iii) patella tendinopathy, and (iv) anterior cruciate ligament injury as the primary injuries to address amongst these athletes. The interaction of modifiable and non-modifiable risk factors for these injuries are used to classify athletes into high-, medium- and low-risk groups. Targeted training interventions are suggested, based upon the risk level of the athlete, to minimize the occurrence of these injuries. Practical methods for integrating these activities into a training plan are also discussed.

  13. Strategies for risk management in cancer nursing.

    Science.gov (United States)

    Chamorro, T; Tarulli, D

    1990-01-01

    In the current social and legal climate, nurses are increasingly subject to litigation charging professional negligence. A higher professional standing for nursing and a larger role in the decision-making aspects of health care have helped to effect this revolution. There are inherent risks in providing health care that are intensified by the rapid growth in medical technology and complex treatment. Claims brought against nurses have been categorized in studies, and primary causes of patient injury in the healthcare facility are also identified. Using these and other data, areas within cancer nursing that predispose to the risk of increased liability can be anticipated. Issues that are unique to the acute care, ambulatory, or homecare setting in oncology are described. Risk management is a mechanism that addresses the prevention and control of financial loss resulting from claims of negligence. Using risk management concepts, strategies are developed to help the cancer nurse recognize intrinsic dangers and reduce the potential for liability.

  14. General RMP Guidance - Chapter 9: Risk Management Plan

    Science.gov (United States)

    You must submit one risk management plan (RMP) to EPA for all of your covered processes. The internet-based RMP*eSubmit allows you to submit your RMP in EPA's Central Data Exchange (CDX), where you can access and change/correct existing RMPs.

  15. Risk Management: Getting the Most for Your Insurance Dollars

    Science.gov (United States)

    Abramson, Paul

    1973-01-01

    Analyze what insurance is intended to do by going through the risk management process: identify exposures to loss, measure their financial impact on the institution, rationalize the means of controlling exposures, prevent loss, and set up a program to minimize the impact of loss through insurance or other means. (Author)

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

    Science.gov (United States)

    Fernandez, M.; Ruegg, J.

    2012-04-01

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

  17. Coastal Risk Management in a Changing Climate

    DEFF Research Database (Denmark)

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

    2014-01-01

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

  18. Wake up to fatigue risk management

    CSIR Research Space (South Africa)

    Schutte, PC

    2009-06-01

    Full Text Available of Occupational Hygiene II Wake up 0 t tgue rl k man P.C. SCHUTTE OCCUPATIONAL HEALTH & ERGONOMICS RESEARCH GROUP, CSIR NRE (MINING). PAPER PRESENTED AT SAFECONEX 2009, 12 -13 MARCH 2009, INDABA HOTEL & CONFERENCE CENTRE Abstract There have been several high... on pregnont women. Negative effects include an increased risk of Southern African Institute of Occupational Hygiene Ii miscarriage, low birth weight and a higher occurrence of premature births. 5. Fatigue management The management of fatigue...

  19. Does Corporate Governance Impact Risk Management System?

    Directory of Open Access Journals (Sweden)

    Petre BREZEANU

    2011-04-01

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

  20. Integrating Process Management with Archival Management Systems: Lessons Learned

    Directory of Open Access Journals (Sweden)

    J. Gordon Daines, III

    2009-03-01

    Full Text Available The Integrated Digital Special Collections (INDI system is a prototype of a database-driven, Web application designed to automate and manage archival workflow for large institutions and consortia. This article discusses the how the INDI project enabled the successful implementation of a process to manage large technology projects in the Harold B. Lee Library at Brigham Young University. It highlights how the scope of these technology projects is set and how the major deliverables for each project are defined. The article also talks about how the INDI system followed the process and still failed to be completed. It examines why the process itself is successful and why the INDI project failed. It further underscores the importance of process management in archival management systems.

  1. Perceptions of food risk management among key stakeholders

    DEFF Research Database (Denmark)

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

    2006-01-01

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

  2. Disclosures on managing human rights risks

    OpenAIRE

    ACCA Australia and New Zealand; Net Balance Foundation; CAER

    2011-01-01

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

  3. YOUNG ADULT DATING RELATIONSHIPS AND THE MANAGEMENT OF SEXUAL RISK.

    Science.gov (United States)

    Manning, Wendy D; Giordano, Peggy C; Longmore, Monica A; Flanigan, Christine M

    2012-04-01

    Young adult involvement in sexual behavior typically occurs within a relationship context, but we know little about the ways in which specific features of romantic relationships influence sexual decision-making. Prior work on sexual risk taking focuses attention on health issues rather than relationship dynamics. We draw on data from the Toledo Adolescent Relationships Study (TARS) (n = 475) to examine the association between qualities and dynamics of current/most recent romantic relationships such as communication and emotional processes, conflict, demographic asymmetries, and duration and the management of sexual risk. We conceptualize 'risk management' as encompassing multiple domains, including (1) questioning the partner about previous sexual behaviors/risks, (2) using condoms consistently, and (3) maintaining sexual exclusivity within the relationship. We identify distinct patterns of risk management among dating young adults and find that specific qualities and dynamics of these relationships are linked to variations in risk management. Results from this paper suggest the need to consider relational dynamics in efforts to target and influence young adult sexual risk-taking and reduce STIs, including HIV.

  4. The Process Management in Non - Profit Organisations

    National Research Council Canada - National Science Library

    Dagmara Bubel; Sylwia Legowik-Swiacik; Michal Dziadkiewicz; Anna Wisniewska-Salek

    2016-01-01

      The purpose of this paper is to learn about the implementation of the process management concepts in the non-profit organisations and the possible evaluation of effectiveness raise of the organisations' functioning...

  5. Process Performance Management in Higher Education

    National Research Council Canada - National Science Library

    Vukšić, Vesna Bosilj; Bach, Mirjana Pejić; Tomičić-Pupek, Katarina

    2014-01-01

    .... The goal of the paper is to investigate usefulness of embedding the simulation modelling approach for process performance management based on the case study of collaboration improvement in higher education...

  6. Socialization as key process in knowledge management

    Directory of Open Access Journals (Sweden)

    Francisco José GARCÍA-PEÑALVO

    2016-07-01

    Full Text Available The editorial of this second issue of volume 17,corresponding to 2016, is devoted to socialization process in the knowledge management in order to complement the special section about Social Networks and Education.

  7. The Management-Business Process: Cultural Considerations.

    Science.gov (United States)

    Ruiz, Reynaldo

    The effect of culture on the business management process in a Hispanic setting is explored for the benefit of persons in business in Latin America or with Hispanic groups in the United States. Understanding of cultural differences is important for business managers who work with Spanish speaking employees or clients because of the wide-ranging and…

  8. Investigating road safety management processes in Europe.

    NARCIS (Netherlands)

    Jähi, H. Muhlrad, N. Buttler, I. Gitelman, V. Bax, C. Dupont, E. Giustiniani, G. Machata, K. Martensen, H. Papadimitriou, E. Persia, L. Talbot, R. Vallet, G. & Yannis, G.

    2012-01-01

    The work package 1 of the EC FP7 project DaCoTA investigates road safety management processes in Europe. It has drafted a model to investigate the state of the art of road safety policy-making and management at the national level and to define “good practice”. The DaCoTA “good practice”

  9. Building an Identity Management Governance Process

    Science.gov (United States)

    Berg, Joanne E.; Kraemer, Ron; Raatz, Carla; Devoti, Steve

    2009-01-01

    A particular challenge in any campus environment is determining how requests for access to services and resources are managed. Who decides the technology, infrastructure, policy, business process and procedure? The involvement of key institutional leaders and stakeholders in identity management governance is the driving force behind the way the…

  10. FINANCIAL RISK MANAGEMENT – INFLUENCE FACTORS AND NEW TRENDS

    OpenAIRE

    Laura Vasilescu

    2014-01-01

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

  11. Farmers' motivations, risk perceptions and risk management strategies in a developing economy: Bangladesh experience

    DEFF Research Database (Denmark)

    Ahsan, D. A.

    2011-01-01

    Aquaculture farmers' risk perceptions and risk management strategies have still received little attention in agricultural research. Therefore, an exploratory study has been undertaken to provide empirical insight into Bangladeshi coastal shrimp farmers' risk perceptions and risk management respon...

  12. Contextualising risk within enterprise risk management through the application of systems thinking

    CSIR Research Space (South Africa)

    Haywood, Lorren K

    2017-06-01

    Full Text Available New and emerging risks create growing uncertainty and unpredictability within enterprise risk management. While ISO 31000:2009 is a progressive risk management framework, it is limited in its guidance on how to contextualise complex risks...

  13. A combined disease management and process modeling approach for assessing and improving care processes: a fall management case-study.

    Science.gov (United States)

    Askari, Marjan; Westerhof, Richard; Eslami, Saied; Medlock, Stephanie; de Rooij, Sophia E; Abu-Hanna, Ameen

    2013-10-01

    To propose a combined disease management and process modeling approach for evaluating and improving care processes, and demonstrate its usability and usefulness in a real-world fall management case study. We identified essential disease management related concepts and mapped them into explicit questions meant to expose areas for improvement in the respective care processes. We applied the disease management oriented questions to a process model of a comprehensive real world fall prevention and treatment program covering primary and secondary care. We relied on interviews and observations to complete the process models, which were captured in UML activity diagrams. A preliminary evaluation of the usability of our approach by gauging the experience of the modeler and an external validator was conducted, and the usefulness of the method was evaluated by gathering feedback from stakeholders at an invitational conference of 75 attendees. The process model of the fall management program was organized around the clinical tasks of case finding, risk profiling, decision making, coordination and interventions. Applying the disease management questions to the process models exposed weaknesses in the process including: absence of program ownership, under-detection of falls in primary care, and lack of efficient communication among stakeholders due to missing awareness about other stakeholders' workflow. The modelers experienced the approach as usable and the attendees of the invitational conference found the analysis results to be valid. The proposed disease management view of process modeling was usable and useful for systematically identifying areas of improvement in a fall management program. Although specifically applied to fall management, we believe our case study is characteristic of various disease management settings, suggesting the wider applicability of the approach. Copyright © 2013 Elsevier Ireland Ltd. All rights reserved.

  14. Crew Transportation Technical Management Processes

    Science.gov (United States)

    Mckinnie, John M. (Compiler); Lueders, Kathryn L. (Compiler)

    2013-01-01

    Under the guidance of processes provided by Crew Transportation Plan (CCT-PLN-1100), this document, with its sister documents, International Space Station (ISS) Crew Transportation and Services Requirements Document (CCT-REQ-1130), Crew Transportation Technical Standards and Design Evaluation Criteria (CCT-STD-1140), Crew Transportation Operations Standards (CCT STD-1150), and ISS to Commercial Orbital Transportation Services Interface Requirements Document (SSP 50808), provides the basis for a National Aeronautics and Space Administration (NASA) certification for services to the ISS for the Commercial Provider. When NASA Crew Transportation System (CTS) certification is achieved for ISS transportation, the Commercial Provider will be eligible to provide services to and from the ISS during the services phase.

  15. Theoretical concept of credit risk management

    Directory of Open Access Journals (Sweden)

    Dragosavac Miloš

    2014-01-01

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

  16. Risk and risk management in agriculture : an overview and empirical results

    NARCIS (Netherlands)

    Huirne, R.B.M.; Meuwissen, M.P.M.; Hardaker, J.B.; Anderson, J.R.

    2000-01-01

    The paper gives an overview of sources of risk and risk management strategies in agriculture. As risk is an inescapable fact of life, in particular in agriculture, farmers must try to manage risk effectively. Risk management is an integral part of good management of a farm, being a way to avoid

  17. Audit of psychosocial risk management systems

    DEFF Research Database (Denmark)

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

    2014-01-01

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

  18. 75 FR 30106 - Terrorism Risk Insurance Program; Litigation Management Submissions

    Science.gov (United States)

    2010-05-28

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

  19. Safety Risk Management for Homeland Defense and Security Responders

    National Research Council Canada - National Science Library

    Meyers, Tommey H

    2005-01-01

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

  20. Cognitive Processes and Societal Risk Taking

    Science.gov (United States)

    1975-06-23

    Best Available Copy .. ^’PWBa^aarta^ftftwi^wiMMÄ’j ■■ ■ ■■ i»*1P»»"^""^""W^""l^^lT Cognitive Processes and Societal Risk Taking Paul Slovlc...Baruch Fischhoff and Sarah Lichtenstein Oregon Research Institute ■ rt-^wrtwr. CoRnltive Processes and Societal Risk Taking Paul Slovlc, Baruch...and use of psychological tests ( Meehl & Rosen, 1955). ifad>aiMllWl«WW»1[Wliil.lirMill««m^ 14 One additional Implication of the research on man’s