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Sample records for risk management study

  1. 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.

  2. 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.

  3. Risk management strategies by Australian farmers: two case studies

    OpenAIRE

    Nguyen, Nam C.; Wegener, Malcolm K.; Russell, Iean W.; Cameron, Donald; Coventry, David; Cooper, Ian M.

    2007-01-01

    Australian farmers operate in one of the most risky farming environments in the world. They have to cope with numerous sources of risk including weather uncertainty, variable market prices, and institutional changes in their business management. This paper reports results from two case studies undertaken to examine the issues of farming risks and risk management strategies in Australia. The first case study found that unpredictable weather, financial risk, marketing risk, and personal risk we...

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

    OpenAIRE

    Abdul-Rahman, Hamzah; Wang, Chen; Sheik Mohamad, Farhanim

    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...

  5. 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...

  6. 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. 

  7. 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…

  8. Risk management study for the retired Hanford Site facilities: Risk management executive summary

    International Nuclear Information System (INIS)

    Coles, G.A.; Shultz, M.V.; Taylor, W.E.

    1994-02-01

    This document provides a cost-comparison evaluation for implementing certain risk-reduction measures and their effect on the overall risk of the 100 and 200 Area retired, surplus facilities. The evaluation is based on conditions that existed at the time the risk evaluation team performed facility investigations, and does not acknowledge risk-reduction measures that occurred soon after risk identification. This evaluation is one part of an overall risk management study for these facilities. The retired facilities investigated for this evaluation are located in the 100 and 200 Areas of the 1450-km 2 Hanford Site. The Hanford Site is a semiarid tract of land in southeastern Washington State. The nearest population center is Richland, Washington, (population 32,000) 30 km southeast of the 200 Area. This document is the first in a four volume series that comprise the risk management study for the retired, surplus facilities. Volume 2 is the risk evaluation work procedure; volume 3 provides the results for the risk evaluation; and volume 4 is the risk-reduction cost comparison

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

    International Nuclear Information System (INIS)

    Jiang Bo; Feng Yanping; Liu Changbin

    2010-01-01

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

  10. Risk Management from Corporate and FM Perspectives: Two case studies

    DEFF Research Database (Denmark)

    Ünver, Kadir; Jensen, Per Anker

    2012-01-01

    Purpose: To investigate how Risk Management (RM) is perceived and practiced in Facilities Management (FM) and corporate management and to evaluate the potential benefits of an increased application. Theory: RM is a generic management discipline, but apparently it has not achieved the attention...... as most critical in each company. Both companies could benefit from a more integrated application of RM covering both corporate management and FM. Originality/value: This is among the first descriptive studies looking at RM from both corporate and FM perspectives, which is essential to increase...... it deserves in FM. Application of RM in FM could help to increase the strategic importance and awareness of FM among corporate managers. Approach: A preliminary study with expert interviews was initially conducted followed by a main study with an interview survey in two Danish case companies - a real estate...

  11. Telephone Care Management of Fall Risk:: A Feasibility Study.

    Science.gov (United States)

    Phelan, Elizabeth A; Pence, Maureen; Williams, Barbara; MacCornack, Frederick A

    2017-03-01

    Care management has been found to be more effective than usual care for some chronic conditions, but few studies have tested care management for prevention of elder falls. This study aimed to assess the feasibility and preliminary efficacy of telephone care management of older adults presenting for medical attention due to a fall. The setting was an independent practice association in western Washington serving 1,300 Medicare Advantage-insured patients. Patients aged ≥65 years treated for a fall in an emergency department or their primary care provider's office were contacted via telephone by a care manager within 48 hours of their fall-related visit and invited to participate in a telephone-administered interview to identify modifiable fall risk factors and receive recommendations and follow-up to address identified risk factors. Data from care manager records, patient medical records, and healthcare claims for the first 6 months (November 2009-April 2010) of program implementation were analyzed in 2011. The feasibility of screening and management of fall risk factors over the telephone and the effect on medically attended falls were assessed. Twenty-two patients eligible for fall care management were reached and administered the protocol. Administration took 15-20 minutes and integrated easily with the care manager's other responsibilities. Follow-through on recommendations varied, from 45% for those for whom exercise participation was recommended to 100% for other recommendations. No medically attended falls occurred over 6 months of follow-up. Telephone care management of fall risk appears feasible and may reduce falls requiring medical attention. Copyright © 2016 American Journal of Preventive Medicine. Published by Elsevier Inc. All rights reserved.

  12. Risk management.

    Science.gov (United States)

    Chambers, David W

    2010-01-01

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

  13. Supply chain risk management of newspaper industry: A quantitative study

    Science.gov (United States)

    Sartika, Viny; Hisjam, Muh.; Sutopo, Wahyudi

    2018-02-01

    The newspaper industry has several distinctive features that make it stands out from other industries. The strict delivery deadline and zero inventory led to a very short time frame for production and distribution. On the other hand, there is pressure from the newsroom to encourage the start of production as slowly as possible in order to enter the news, while there is pressure from production and distribution to start production as early as possible. Supply chain risk management is needed in determining the best strategy for dealing with possible risks in the newspaper industry. In a case study of a newspaper in Surakarta, quantitative approaches are made to the newspaper supply chain risk management by calculating the expected cost of risk based on the magnitude of the impact and the probability of a risk event. From the calculation results obtained that the five risks with the highest value are newspaper delays to the end customer, broken plate, miss print, down machine, and delayed delivery of newspaper content. Then analyzed appropriate mitigation strategies to cope with such risk events.

  14. Effective Project Risk management in Micro Companies : Case study for Persona Optima Iceland ehf.

    OpenAIRE

    Bražinskaitė, Justina

    2011-01-01

    This study is meant to be a guide for micro companies regarding effective project risk management. The main purpose of this thesis is to introduce project risk management and build a user-friendly managerial model toward effective project risk management in micro companies. The research is based on a case company Persona Optima Iceland ehf. analysis. The study investigates risk management, uncertainties and risks in projects, project risk management, its models and particularities in orde...

  15. Risk management study for the retired Hanford Site facilities

    International Nuclear Information System (INIS)

    Coles, G.A.; Shultz, M.V.; Taylor, W.E.

    1993-04-01

    Risk from retired surplus facilities has always been assumed to be low at the Hanford Site as the facilities are inactive and have few potentials for causing an offsite hazardous material release. However,the fatal accident that occurred in the spring of 1992 in which an employee fell through a deteriorated roof at the 105-F Reactor Building has raised the possibility that retired facilities represent a greater risk than was originally assumed. Therefore, Westinghouse Hanford Company and the US Department of Energy management have determined that facility risk management strategies and programmatic plans should be reevaluated to assure risks are identified and appropriate corrective action plans are developed. To evaluate risk management strategies, accurate risk information about the current and projected condition of the facilities must be developed. This work procedure has been created to address the development of accurate and timely risk information. By using the evaluation results in this procedure, it will be possible to create a prioritized baseline for managing facility risk until all retired surplus facilities are demolished

  16. Australian Defence Risk Management Framework: A Comparative Study

    Science.gov (United States)

    2005-02-01

    disadvantage or gain. There may be a range of possible outcomes associated with an event. Definition 1.3.3 Event An incident or situation, which occurs in a...prohibitive insurance costs. Sometimes, advantages may far outweigh disadvantages making risk more justifiable. The unacceptable risks are...objectives, work culture and risk management approaches. Globalisation and introduction of new technologies have significantly complicated the situation

  17. Risk Management and Disaster Recovery in Public Libraries in South Australia: A Pilot Study

    Science.gov (United States)

    Velasquez, Diane L.; Evans, Nina; Kaeding, Joanne

    2016-01-01

    Introduction: This paper reports the findings of a study of risk management in public libraries. The focus of the research was to determine whether the libraries had a risk management and disaster plan for major disasters. Method: A qualitative study was done to investigate risk management and disaster recovery in public libraries in South…

  18. 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

  19. Value of risk management

    OpenAIRE

    Vik, Marie Amdal

    2012-01-01

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

  20. A risk communication case study: the Nevada risk assessment/management program

    International Nuclear Information System (INIS)

    Hechanova, A.E.

    2001-01-01

    The Nevada Risk Assessment/Management Program is part of a national effort by the U.S. Department of Energy (Grant DE-FG01-96EW56093) to develop new sources of information and approaches to risk assessment, risk management, risk communication and public outreach as these objectives relate to the ecological and human health effects of radioactive and hazardous material management and site remediation activities. This paper reviews the innovation behind the Nevada Risk Assessment/Management Program and presents a synopsis of the effort that began in 1995 and will officially conclude on April 30, 2000. (author)

  1. 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

  2. Managing risks

    International Nuclear Information System (INIS)

    Nathwani, J.S.

    1993-01-01

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

  3. Improving interMediAte Risk management. MARK study

    Directory of Open Access Journals (Sweden)

    Garcia-Gil Maria

    2011-10-01

    Full Text Available Abstract Background Cardiovascular risk functions fail to identify more than 50% of patients who develop cardiovascular disease. This is especially evident in the intermediate-risk patients in which clinical management becomes difficult. Our purpose is to analyze if ankle-brachial index (ABI, measures of arterial stiffness, postprandial glucose, glycosylated hemoglobin, self-measured blood pressure and presence of comorbidity are independently associated to incidence of vascular events and whether they can improve the predictive capacity of current risk equations in the intermediate-risk population. Methods/Design This project involves 3 groups belonging to REDIAPP (RETICS RD06/0018 from 3 Spanish regions. We will recruit a multicenter cohort of 2688 patients at intermediate risk (coronary risk between 5 and 15% or vascular death risk between 3-5% over 10 years and no history of atherosclerotic disease, selected at random. We will record socio-demographic data, information on diet, physical activity, comorbidity and intermittent claudication. We will measure ABI, pulse wave velocity and cardio ankle vascular index at rest and after a light intensity exercise. Blood pressure and anthropometric data will be also recorded. We will also quantify lipids, glucose and glycosylated hemoglobin in a fasting blood sample and postprandial capillary glucose. Eighteen months after the recruitment, patients will be followed up to determine the incidence of vascular events (later follow-ups are planned at 5 and 10 years. We will analyze whether the new proposed risk factors contribute to improve the risk functions based on classic risk factors. Discussion Primary prevention of cardiovascular diseases is a priority in public health policy of developed and developing countries. The fundamental strategy consists in identifying people in a high risk situation in which preventive measures are effective and efficient. Improvement of these predictions in our country

  4. From field studies to risk management: the Sensib project

    International Nuclear Information System (INIS)

    Mercat-Rommens, C.; Renaud, P.

    2004-01-01

    The consequences for the man and the environment of the discharges of nuclear facilities depend on the importance and the nature of the discharges, but also on the environment which receives them. Thus, the impact of a pollution, which is expressed in term of toxicity, risk or economic consequences, varies according to the characteristics of the environment and the use of this environment by the man. The radioecological sensitivity can be defined as the response of the environment to a radioactive pollution. This response is expressed through various indicators: the activity of a radionuclide at a precise moment, a stock of radionuclide in a given environmental compartment or a flux of radionuclide... For a determined discharge, the higher is the response, the more sensitive is the environment. If all the ecosystems appear sensitive, their sensitivity does not concern the same criteria and it is currently difficult to compare these criteria between them; is it more hazardous to have a stock of radioactivity present in a natural space or to have an important but time-limited concentration of radionuclides in a river used for irrigation? The idea of the SENSIB project is to create a standardized tool which makes it possible to represent and to compare with the same scale the sensitivity of various ecosystems. The sensitivity indexes, which will be developed during the project, aim to represent the intensity of the environmental response. These indicators, which are the result of the transfer of the radionuclides in the environment, depend on various intrinsic parameters of the ecosystems (climate, soil, agricultural practises...). The SENSIB project, based on results of field studies conducted by IRSN, aims to develop both a methodology to calculate sensitivity indexes and a radioecological sensitivity scale usable for risk management. (author)

  5. Managing discovery risks--A Tevatron case study

    International Nuclear Information System (INIS)

    Bakul Banerjee

    2004-01-01

    To meet the increasing need for higher performance, Management of Fermi National Accelerator Laboratory has undertaken various projects to improve systems associated with the Tevatron high-energy particle collider located at Batavia, Illinois. One of the larger projects is the Tevatron Beam Position Monitor (BPM) system. The objective of this project is to replace the existing BPM electronics and software system that was originally installed during early 1980s, along with the original construction of the Tevatron.The original system consists of 236 beam position monitors located around the underground tunnel of the accelerator. Above ground control systems are attached to these monitors using pickup cables. When the Tevatron collider is operational, signals received from the BPMs are used to perform a number of control and diagnostic tasks. The original system can only capture the proton signals from the collider. The new system, when fully operational, will be able to capture combined proton and antiproton signals and will be able to separate the antiproton signal from the combined signal at high resolution. This significant enhancement was beyond the range of technical capabilities when the Tevatron was constructed about two decades ago. To take advantage of exceptional progress made in the hardware and software area in past two decades, Department of Energy approved funding of the BPM electronics and software replacement project. The approximate length of the project is sixteen months with a budget of four million dollars not including overhead, escalation, and contingencies. Apart from cost and schedule risks, there are two major risks associated with this research and development project. The primary risk is the risk of discovery. Since the Tevatron beam path is highly complex, BPMs have to acquire and process a large amount of data. In this environment, analysis of data to separate antiproton signals is even more complex. Finding an optimum algorithm that can

  6. Debris Flow Risk Management Framework and Risk Analysis in Taiwan, A Preliminary Study

    Science.gov (United States)

    Tsao, Ting-Chi; Hsu, Wen-Ko; Chiou, Lin-Bin; Cheng, Chin-Tung; Lo, Wen-Chun; Chen, Chen-Yu; Lai, Cheng-Nong; Ju, Jiun-Ping

    2010-05-01

    Taiwan is located on a seismically active mountain belt between the Philippine Sea plate and Eurasian plate. After 1999's Chi-Chi earthquake (Mw=7.6), landslide and debris flow occurred frequently. In Aug. 2009, Typhoon Morakot struck Taiwan and numerous landslides and debris flow events, some with tremendous fatalities, were observed. With limited resources, authorities should establish a disaster management system to cope with slope disaster risks more effectively. Since 2006, Taiwan's authority in charge of debris flow management, the Soil and Water Conservation Bureau (SWCB), completed the basic investigation and data collection of 1,503 potential debris flow creeks around Taiwan. During 2008 and 2009, a debris flow quantitative risk analysis (QRA) framework, based on landslide risk management framework of Australia, was proposed and conducted on 106 creeks of the 30 villages with debris flow hazard history. Information and value of several types of elements at risk (bridge, road, building and crop) were gathered and integrated into a GIS layer, with the vulnerability model of each elements at risk applied. Through studying the historical hazard events of the 30 villages, numerical simulations of debris flow hazards with different magnitudes (5, 10, 25, 50, 100 and 200 years return period) were conducted, the economic losses and fatalities of each scenario were calculated for each creek. When taking annual exceeding probability into account, the annual total risk of each creek was calculated, and the results displayed on a debris flow risk map. The number of fatalities and frequency were calculated, and the F-N curves of 106 creeks were provided. For F-N curves, the individual risk to life per year of 1.0E-04 and slope of 1, which matched with international standards, were considered to be an acceptable risk. Applying the results of the 106 creeks onto the F-N curve, they were divided into 3 categories: Unacceptable, ALARP (As Low As Reasonable Practicable) and

  7. University Lawyers: A Study of Legal Risk, Risk Management and Role in Work Integrated Learning Programmes

    Science.gov (United States)

    Cameron, Craig; Klopper, Christopher

    2015-01-01

    Work integrated learning (WIL) is in growing demand by multiple stakeholders within the higher education sector in Australia. There are significant and distinct legal risks to universities associated with WIL programmes. University lawyers, along with WIL administrators and university management, are responsible for managing legal risk. This…

  8. A risk communication case study: the Nevada risk assessment/management program

    International Nuclear Information System (INIS)

    Hechanova, A.E.

    2000-01-01

    The Nevada Risk Assessment/Management Program (NRAMP) is part of a national effort by the U.S. Department of Energy (DOE) to develop new sources of information and approaches to risk assessment, risk management, risk communication and public outreach as these objectives relate to the ecological and human health effects of radioactive and hazardous material management and site remediation activities. This paper reviews the innovation behind the NRAMP project and presents a synopsis of the NRAMP effort which occurred from 1995 to 2000. The primary goals of the DOE in awarding the cooperative agreement establishing NRAMP were to (I) use a risk-based approach to evaluate the consequences of alternative actions in DOE's Environmental Remediation Programs at sites in Nevada and (2) use a neutral and credible institution outside the DOE to perform the risk assessments and contribute to public education about environmental management issues at the Nevada Test Site. (author)

  9. A Study of Program Manager Effectiveness and Risk Taking Propensity

    Science.gov (United States)

    1988-09-01

    Kelly Sherwin, my section leader , has been a great source of leadership and inspiration . Next, I would like to thank Lieutenant Colonel Fred Westfall...managers peiZ.rm ten basic tasks which can be broken into three categories. The categories and tasks are: Interpersonal Roles 1. Figurehead 2. Leader 3...17:59). When-a program manager is successful, he is not necessarily effective (10:10). Luthans studied this phenomenon by examining the managerial

  10. Study on the evaluation system for the coal safety management based on risk pre-control

    Institute of Scientific and Technical Information of China (English)

    LI Xin-chun; XU Hai-xia; WANG Pei; SONG Xue-feng

    2009-01-01

    The new type of risk management is process management.First,the hazard sources are identified before coal mine accidents occur,and then the pre-control measure and information monitoring method based on classifying the hidden hazard sources are given.Lastly,the risk pre-alarm and risk control method are confirmed,the management standard and management measure are used to eliminate the hidden hazard sources.In this study,an evaluation system is built to evaluate the result of risk management.

  11. Risk in technical and scientific studies: general introduction to uncertainty management and the concept of risk

    International Nuclear Information System (INIS)

    Apostolakis, G.E.

    2004-01-01

    George Apostolakis (MIT) presented an introduction to the concept of risk and uncertainty management and their use in technical and scientific studies. He noted that Quantitative Risk Assessment (QRA) provides support to the overall treatment of a system as an integrated socio-technical system. Specifically, QRA aims to answer the questions: - What can go wrong (e.g., accident sequences or scenarios)? - How likely are these sequences or scenarios? - What are the consequences of these sequences or scenarios? The Quantitative Risk Assessment deals with two major types of uncertainty. An assessment requires a 'model of the world', and this preferably would be a deterministic model based on underlying processes. In practice, there are uncertainties in this model of the world relating to variability or randomness that cannot be accounted for directly in a deterministic model and that may require a probabilistic or aleatory model. Both deterministic and aleatory models of the world have assumptions and parameters, and there are 'state-of-knowledge' or epistemic uncertainties associated with these. Sensitivity studies or eliciting expert opinion can be used to address the uncertainties in assumptions, and the level of confidence in parameter values can be characterised using probability distributions (pdfs). Overall, the distinction between aleatory and epistemic uncertainties is not always clear, and both can be treated mathematically in the same way. Lessons on safety assessments that can be learnt from experience at nuclear power plants are that beliefs about what is important can be wrong if a risk assessment is not performed. Also, precautionary approaches are not always conservative if failure modes are not identified. Nevertheless, it is important to recognize that uncertainties will remain despite a quantitative risk assessment: e.g., is the scenario list complete, are the models accepted as reasonable, and are parameter probability distributions representative of

  12. Risk management

    International Nuclear Information System (INIS)

    Magne, L.

    1999-01-01

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

  13. 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.

  14. Study on risk management for operation of nuclear generation plant

    International Nuclear Information System (INIS)

    Yamashita, Hiroko

    2012-01-01

    Reputation loss is regarded as a management issue because it impacts to business and industries significantly. Reputation management is one of the approach both business and public organizations. Application of reputation management for nuclear plant management is discussed. (author)

  15. Cost risk analysis of radioactive waste management Preliminary study

    International Nuclear Information System (INIS)

    Forsstroem, J.

    2006-12-01

    This work begins with exposition of the basics of risk analysis. These basics are then applied to the Finnish radioactive waste disposal environment in which the nuclear power companies are responsible for all costs of radioactive waste management including longterm disposal of spent fuel. Nuclear power companies prepare cost estimates of the waste disposal on a yearly basis to support the decision making on accumulation of resources to the nuclear waste disposal fund. These cost estimates are based on the cost level of the ongoing year. A Monte Carlo simulation model of the costs of the waste disposal system was defined and it was used to produce preliminary results of its cost risk characteristics. Input data was synthesised by modifying the original coefficients of cost uncertainty to define a cost range for each cost item. This is a suitable method for demonstrating results obtainable by the model but it is not accurate enough for supporting decision making. Two key areas of further development were identified: the input data preparation and identifying and handling of (i.e. eliminating or merging) interacting cost elements in the simulation model. Further development in both of the mentioned areas can be carried out by co-operating with the power companies as they are the sources of the original data. (orig.)

  16. 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.

  17. Perceptions of food risk management among key stakeholders: Results from a cross-European study

    NARCIS (Netherlands)

    Kleef, van E.; Frewer, L.J.; Chryssochoidis, G.M.; Houghton, J.R.; Korzen-Bohr, S.; Krystallis, T.; Lassen, J.; Pfenning, U.; Rowe, G.

    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. The objective of this study is to identify similarities and differences in perceptions of, and attitudes

  18. Making Risk Management Strategic

    DEFF Research Database (Denmark)

    Sax, Johanna; Andersen, Torben Juul

    2018-01-01

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

  19. 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....

  20. Do expert assessments converge? An exploratory case study of evaluating and managing a blood supply risk.

    Science.gov (United States)

    Eyles, John; Heddle, Nancy; Webert, Kathryn; Arnold, Emmy; McCurdy, Bronwen

    2011-08-24

    Examining professional assessments of a blood product recall/withdrawal and its implications for risk and public health, the paper introduces ideas about perceptions of minimal risk and its management. It also describes the context of publicly funded blood transfusion in Canada and the withdrawal event that is the basis of this study. Interviews with 45 experts from administration, medicine, blood supply, laboratory services and risk assessment took place using a multi-level sampling framework in the aftermath of the recall. These experts either directly dealt with the withdrawal or were involved in the management of the blood supply at the national level. Data from these interviews were coded in NVivo for analysis and interpretation. Analytically, data were interpreted to derive typifications to relate interview responses to risk management heuristics. While all those interviewed agreed on the importance of patient safety, differences in the ways in which the risk was contextualized and explicated were discerned. Risk was seen in terms of patient safety, liability or precaution. These different risk logics are illustrated by selected quotations. Expert assessments did not fully converge and it is possible that these different risk logics and discourses may affect the risk management process more generally, although not necessarily in a negative way. Patient safety is not to be compromised but management of blood risk in publicly funded systems may vary. We suggest ways of managing blood risk using formal and safety case approaches.

  1. Do expert assessments converge? An exploratory case study of evaluating and managing a blood supply risk

    Directory of Open Access Journals (Sweden)

    Arnold Emmy

    2011-08-01

    Full Text Available Abstract Background Examining professional assessments of a blood product recall/withdrawal and its implications for risk and public health, the paper introduces ideas about perceptions of minimal risk and its management. It also describes the context of publicly funded blood transfusion in Canada and the withdrawal event that is the basis of this study. Methods Interviews with 45 experts from administration, medicine, blood supply, laboratory services and risk assessment took place using a multi-level sampling framework in the aftermath of the recall. These experts either directly dealt with the withdrawal or were involved in the management of the blood supply at the national level. Data from these interviews were coded in NVivo for analysis and interpretation. Analytically, data were interpreted to derive typifications to relate interview responses to risk management heuristics. Results While all those interviewed agreed on the importance of patient safety, differences in the ways in which the risk was contextualized and explicated were discerned. Risk was seen in terms of patient safety, liability or precaution. These different risk logics are illustrated by selected quotations. Conclusions Expert assessments did not fully converge and it is possible that these different risk logics and discourses may affect the risk management process more generally, although not necessarily in a negative way. Patient safety is not to be compromised but management of blood risk in publicly funded systems may vary. We suggest ways of managing blood risk using formal and safety case approaches.

  2. Risk Management for Study Abroad Programs: Issues and Resources to Inform Program Development, Administration, and Training

    Science.gov (United States)

    Rhodes, Gary

    2014-01-01

    This chapter provides a practical background to the health and safety risks and challenges for U.S. colleges and universities and other program providers. Potential risks, field-based guidelines, good practices, and resources to support the management of risks by study abroad offices will be covered.

  3. Analysis of Supply Chain Risk Management Strategies: Case Study of Supply Chain Disruptions

    OpenAIRE

    Marcelo Dias Carvalho; Leticia Ishikawa

    2016-01-01

    Supply Chain Risk Management refers to a set of strategies used by companies to avoid supply chain disruption caused by damage at production facilities, natural disasters, capacity issues, inventory problems, incorrect forecasts, and delays. Many companies use the techniques of the Toyota Production System, which in a way goes against a better management of supply chain risks. This paper studies key events in some multinationals to analyze the trade-off between the best supply chain risk mana...

  4. Supply chain risk management processes for resilience: A study of South African grocery manufacturers

    OpenAIRE

    Simon Simba; Wesley Niemann; Theuns Kotzé; Assilah Agigi

    2017-01-01

    Background: The supply chain risk management (SCRM) process is aimed at the implementation of strategies that assist in managing both daily and exceptional risks facing the supply chain through continuous risk assessment to reduce vulnerability and ensure continuity. Purpose: The purpose of the study was to determine whether the SCRM process enables supply chain resilience among grocery manufacturers in South Africa. The fast-moving consumer goods (FMCG)-manufacturing industry faces incre...

  5. Risk Management Practices in Islamic Bank: A Case Study of Islami Bank Bangladesh Limited

    OpenAIRE

    Uddin, Md Akther

    2015-01-01

    Islamic banking industry has been growing rapidly for last three decades. As risk is inherent in banking business it is necessary to develop a comprehensive risk management framework and process. In this paper, a humble attempt has been made to study and analyze risk management practices of Islami Bank Bangladesh Limited (IBBL), one of the leading Islamic banks in Bangaladesh. Annual reports of IBBL and 7 other full-fledged Islamic banks, Bangladesh Bank, the central bank of Bangladesh, publi...

  6. Information Risk Management and Resilience

    Science.gov (United States)

    Dynes, Scott

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

  7. Enterprise risk management

    Energy Technology Data Exchange (ETDEWEB)

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

    2015-07-01

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

  8. Information security risk management for computerized health information systems in hospitals: a case study of Iran.

    Science.gov (United States)

    Zarei, Javad; Sadoughi, Farahnaz

    2016-01-01

    In recent years, hospitals in Iran - similar to those in other countries - have experienced growing use of computerized health information systems (CHISs), which play a significant role in the operations of hospitals. But, the major challenge of CHIS use is information security. This study attempts to evaluate CHIS information security risk management at hospitals of Iran. This applied study is a descriptive and cross-sectional research that has been conducted in 2015. The data were collected from 551 hospitals of Iran. Based on literature review, experts' opinion, and observations at five hospitals, our intensive questionnaire was designed to assess security risk management for CHISs at the concerned hospitals, which was then sent to all hospitals in Iran by the Ministry of Health. Sixty-nine percent of the studied hospitals pursue information security policies and procedures in conformity with Iran Hospitals Accreditation Standards. At some hospitals, risk identification, risk evaluation, and risk estimation, as well as risk treatment, are unstructured without any specified approach or methodology. There is no significant structured approach to risk management at the studied hospitals. Information security risk management is not followed by Iran's hospitals and their information security policies. This problem can cause a large number of challenges for their CHIS security in future. Therefore, Iran's Ministry of Health should develop practical policies to improve information security risk management in the hospitals of Iran.

  9. Information security risk management for computerized health information systems in hospitals: a case study of Iran

    Science.gov (United States)

    Zarei, Javad; Sadoughi, Farahnaz

    2016-01-01

    Background In recent years, hospitals in Iran – similar to those in other countries – have experienced growing use of computerized health information systems (CHISs), which play a significant role in the operations of hospitals. But, the major challenge of CHIS use is information security. This study attempts to evaluate CHIS information security risk management at hospitals of Iran. Materials and methods This applied study is a descriptive and cross-sectional research that has been conducted in 2015. The data were collected from 551 hospitals of Iran. Based on literature review, experts’ opinion, and observations at five hospitals, our intensive questionnaire was designed to assess security risk management for CHISs at the concerned hospitals, which was then sent to all hospitals in Iran by the Ministry of Health. Results Sixty-nine percent of the studied hospitals pursue information security policies and procedures in conformity with Iran Hospitals Accreditation Standards. At some hospitals, risk identification, risk evaluation, and risk estimation, as well as risk treatment, are unstructured without any specified approach or methodology. There is no significant structured approach to risk management at the studied hospitals. Conclusion Information security risk management is not followed by Iran’s hospitals and their information security policies. This problem can cause a large number of challenges for their CHIS security in future. Therefore, Iran’s Ministry of Health should develop practical policies to improve information security risk management in the hospitals of Iran. PMID:27313481

  10. Project Risk Management

    Science.gov (United States)

    Jr., R. F. Miles

    1995-01-01

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

  11. German Phase B [risk study] highlights the role of [reactor] accident management

    International Nuclear Information System (INIS)

    Anon.

    1989-01-01

    Phase B of the German probabilistic risk assessment study, now scheduled for publication this month, suggests that reactor accident management measures can prevent or mitigate about 90 per cent of event sequences. (author)

  12. Cyber Risk Management for Critical Infrastructure: A Risk Analysis Model and Three Case Studies.

    Science.gov (United States)

    Paté-Cornell, M-Elisabeth; Kuypers, Marshall; Smith, Matthew; Keller, Philip

    2018-02-01

    Managing cyber security in an organization involves allocating the protection budget across a spectrum of possible options. This requires assessing the benefits and the costs of these options. The risk analyses presented here are statistical when relevant data are available, and system-based for high-consequence events that have not happened yet. This article presents, first, a general probabilistic risk analysis framework for cyber security in an organization to be specified. It then describes three examples of forward-looking analyses motivated by recent cyber attacks. The first one is the statistical analysis of an actual database, extended at the upper end of the loss distribution by a Bayesian analysis of possible, high-consequence attack scenarios that may happen in the future. The second is a systems analysis of cyber risks for a smart, connected electric grid, showing that there is an optimal level of connectivity. The third is an analysis of sequential decisions to upgrade the software of an existing cyber security system or to adopt a new one to stay ahead of adversaries trying to find their way in. The results are distributions of losses to cyber attacks, with and without some considered countermeasures in support of risk management decisions based both on past data and anticipated incidents. © 2017 Society for Risk Analysis.

  13. Risk management and safety

    International Nuclear Information System (INIS)

    Niehaus, F.; Novegno, A.

    1985-01-01

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

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

    International Nuclear Information System (INIS)

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

    1999-01-01

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

  15. Perceived nuclear risk, organizational commitment, and appraisals of management: A study of nuclear power plant personnel

    International Nuclear Information System (INIS)

    Kivimaeki, M.; Kalimo, R.; Salminen, S.

    1995-01-01

    This study examined to what extent nuclear risk perceptions, organizational commitment (OC), and appraisals of management are associated with each other among nuclear power plant personnel. The sample consisted of 428 nuclear power plant workers who completed a questionnaire at their workplace. Perceived nuclear risk and OC were most closely related to the appraisals of the top management of the organization. As the trust in and satisfaction with the top management increased, perceived nuclear safety and acceptance of the organizational goals and values heightened. This result is discussed in the context of industrial safety management. 29 refs., 2 tabs

  16. 77 FR 71404 - Intent To Prepare an Environmental Impact Statement for the Proposed Flood Risk Management Study...

    Science.gov (United States)

    2012-11-30

    ... Environmental Impact Statement for the Proposed Flood Risk Management Study for the Blanchard River Watershed... the subject Flood Risk Management Study. The Buffalo District of the U.S. Army Corps of Engineers... with the proposed Flood Risk Management Study in the Blanchard River Watershed including the...

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

    Science.gov (United States)

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

    2017-10-01

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

  18. Specialist Cohort Event Monitoring studies: a new study method for risk management in pharmacovigilance.

    Science.gov (United States)

    Layton, Deborah; Shakir, Saad A W

    2015-02-01

    The evolving regulatory landscape has heightened the need for innovative, proactive, efficient and more meaningful solutions for 'real-world' post-authorization safety studies (PASS) that not only align with risk management objectives to gather additional safety monitoring information or assess a pattern of drug utilization, but also satisfy key regulatory requirements for marketing authorization holder risk management planning and execution needs. There is a need for data capture across the primary care and secondary care interface, or for exploring use of new medicines in secondary care to support conducting PASS. To fulfil this need, event monitoring has evolved. The Specialist Cohort Event Monitoring (SCEM) study is a new application that enables a cohort of patients prescribed a medicine in the hospital and secondary care settings to be monitored. The method also permits the inclusion of a comparator cohort of patients receiving standard care, or another counterfactual comparator group, to be monitored concurrently, depending on the study question. The approach has been developed in parallel with the new legislative requirement for pharmaceutical companies to undertake a risk management plan as part of post-authorization safety monitoring. SCEM studies recognize that the study population comprises those patients who may have treatment initiated under the care of specialist health care professionals and who are more complex in terms of underlying disease, co-morbidities and concomitant medications than the general disease population treated in primary care. The aims of this paper are to discuss the SCEM new-user study design, rationale and features that aim to address possible bias (such as selection bias) and current applications.

  19. Risk management at university

    OpenAIRE

    Ivanova, H.; Abramovich, S.

    2013-01-01

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

  20. 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.

  1. Rethinking risk management

    International Nuclear Information System (INIS)

    Kloman, H.F.

    1992-01-01

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

  2. Dairy Supply Chain Risk Management in Bangladesh: Field studies of Factors and Variables

    Directory of Open Access Journals (Sweden)

    Tasnuba Nasir

    2014-01-01

    Full Text Available Supply chain risk management (SCRM has gained wide attention among the academia and the business community in the present competitive business world. This paper aims to investigate the main risk factors associated with the dairy industry along with focuses on possible mitigation strategy to mitigate those risks. Qualitative field study has been undertaken in this research. The results of the interviews identify the different risk issues along with the possible mitigation strategies, embedded at storage, processing and distribution level in dairy industry of Bangladesh. The practical implication will contribute significantly to the dairy sector in terms of mitigating risks.

  3. 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.

  4. Risk management study for the Hanford Site facilities: Risk reduction cost comparison for the retired Hanford Site facilities

    International Nuclear Information System (INIS)

    Coles, G.A.; Egge, R.G.; Senger, E.; Shultz, M.W.; Taylor, W.E.

    1994-02-01

    This document provides a cost-comparison evaluation for implementing certain risk-reduction measures and their effect on the overall risk of the 100 and 200 Area retired, surplus facilities. The evaluation is based on conditions that existed at the time the risk evaluation team performed facility investigations, and does not acknowledge risk-reduction measures that occurred soon after risk identification. This evaluation is one part of an overall risk management study for these facilities. The retired facilities investigated for this evaluation are located in the 100 and 200 Areas of the 1450-km 2 Hanford Site. The Hanford Site is a semiarid tract of land in southeastern Washington State. The nearest population center is Richland, Washington, (population 32,000) 30 km southeast of the 200 Area. This cost-comparison evaluation (1) determines relative costs for reducing risk to acceptable levels; (2) compares the cost of reducing risk using different risk-reduction options; and (3) compares the cost of reducing risks at different facilities. The result is an identification of the cost effective risk-reduction measures. Supporting information required to develop costs of the various risk-reduction options also is included

  5. Risk management study for the Hanford Site facilities: Risk reduction cost comparison for the retired Hanford Site facilities. Volume 4

    Energy Technology Data Exchange (ETDEWEB)

    Coles, G.A.; Egge, R.G.; Senger, E.; Shultz, M.W.; Taylor, W.E.

    1994-02-01

    This document provides a cost-comparison evaluation for implementing certain risk-reduction measures and their effect on the overall risk of the 100 and 200 Area retired, surplus facilities. The evaluation is based on conditions that existed at the time the risk evaluation team performed facility investigations, and does not acknowledge risk-reduction measures that occurred soon after risk identification. This evaluation is one part of an overall risk management study for these facilities. The retired facilities investigated for this evaluation are located in the 100 and 200 Areas of the 1450-km{sup 2} Hanford Site. The Hanford Site is a semiarid tract of land in southeastern Washington State. The nearest population center is Richland, Washington, (population 32,000) 30 km southeast of the 200 Area. This cost-comparison evaluation (1) determines relative costs for reducing risk to acceptable levels; (2) compares the cost of reducing risk using different risk-reduction options; and (3) compares the cost of reducing risks at different facilities. The result is an identification of the cost effective risk-reduction measures. Supporting information required to develop costs of the various risk-reduction options also is included.

  6. Supply chain risk management processes for resilience: A study of South African grocery manufacturers

    Directory of Open Access Journals (Sweden)

    Simon Simba

    2017-09-01

    Full Text Available Background: The supply chain risk management (SCRM process is aimed at the implementation of strategies that assist in managing both daily and exceptional risks facing the supply chain through continuous risk assessment to reduce vulnerability and ensure continuity. Purpose: The purpose of the study was to determine whether the SCRM process enables supply chain resilience among grocery manufacturers in South Africa. The fast-moving consumer goods (FMCG-manufacturing industry faces increased risk because of the nature of their products being perishable with a limited shelf life. Method: This study was conducted using a descriptive qualitative research design. Data were collected by means of 12 semi-structured interviews with senior supply chain practitioners within the South African grocery manufacturing industry. Findings: The study found that most firms informally implement SCRM processes of risk identification, assessment, mitigation and monitoring to mitigate disruptions. Furthermore, the findings indicate that the SCRM processes facilitate resilience among grocery manufacturers in South Africa. Conclusion: The managerial implications show that supply chain managers of grocery manufacturers should formalise the SCRM process and develop risk assessment scales to better prioritise risks in order to run a resilient supply chain. The research contributes to the supply chain management field by adding to the scarce literature relating to SCRM as an enabler of supply chain resilience in a South African context.

  7. Framework for systematic risk management

    International Nuclear Information System (INIS)

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

    1991-01-01

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

  8. Certification and risk management

    International Nuclear Information System (INIS)

    Villanueva Fernandez, M.

    2015-01-01

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

  9. 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...

  10. [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.

  11. Causation in risk assessment and management: models, inference, biases, and a microbial risk-benefit case study.

    Science.gov (United States)

    Cox, L A; Ricci, P F

    2005-04-01

    Causal inference of exposure-response relations from data is a challenging aspect of risk assessment with important implications for public and private risk management. Such inference, which is fundamentally empirical and based on exposure (or dose)-response models, seldom arises from a single set of data; rather, it requires integrating heterogeneous information from diverse sources and disciplines including epidemiology, toxicology, and cell and molecular biology. The causal aspects we discuss focus on these three aspects: drawing sound inferences about causal relations from one or more observational studies; addressing and resolving biases that can affect a single multivariate empirical exposure-response study; and applying the results from these considerations to the microbiological risk management of human health risks and benefits of a ban on antibiotic use in animals, in the context of banning enrofloxacin or macrolides, antibiotics used against bacterial illnesses in poultry, and the effects of such bans on changing the risk of human food-borne campylobacteriosis infections. The purposes of this paper are to describe novel causal methods for assessing empirical causation and inference; exemplify how to deal with biases that routinely arise in multivariate exposure- or dose-response modeling; and provide a simplified discussion of a case study of causal inference using microbial risk analysis as an example. The case study supports the conclusion that the human health benefits from a ban are unlikely to be greater than the excess human health risks that it could create, even when accounting for uncertainty. We conclude that quantitative causal analysis of risks is a preferable to qualitative assessments because it does not involve unjustified loss of information and is sound under the inferential use of risk results by management.

  12. Global sourcing risk management approaches: A study of small clothing and textile retailers in Gauteng

    Directory of Open Access Journals (Sweden)

    Wesley Niemann

    2018-02-01

    Full Text Available Background: Global sourcing has increased as buyers searched for new markets that offered better pricing, quality, variety and delivery lead times than their local markets. However, the increase in global sourcing has also exposed businesses to many supply risks. Purpose: The purpose of this descriptive qualitative study was to explore the global sourcing supply risks encountered by small clothing and textile retailers in Gauteng and to determine what supply risk identification and management approaches they utilise. Method: This study utilised semi-structured interviews conducted with 12 small clothing and textile retail owners. Results: The study found that the three major supply risks encountered by these retailers were fluctuating exchange rates, communication barriers and costly and complicated logistics, which included high customs costs. Furthermore, although aware of the supply risks, none of the small clothing and textile retailers had formal identification and management approaches in place. Instead, risks are dealt with at the sole discretion of the owner as and when they occur. The study also found that informal identification and management approaches were being applied by some of the retailers. These included factoring exchange rate fluctuations into the profit margins and using translators to combat communication barriers. Contribution: The study is one of the first empirical studies conducted on global supply risks and the associated identification and management approaches in the South African small business context, specifically focused on clothing and textile retailers. Conclusion: Small clothing and textile retailers need to proactively identify and manage global sourcing risk using the identified approaches in order to reduce and mitigate potential supply disruptions.

  13. 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...

  14. 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

  15. Risk management in Takaful

    OpenAIRE

    Akhter, Waheed

    2010-01-01

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

  16. Financial Risk Management

    OpenAIRE

    Catalin-Florinel Stanescu; Laurentiu Mircea Simion

    2011-01-01

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

  17. Combining Climate Scenarios and Risk Management Approach—A Finnish Case Study

    Directory of Open Access Journals (Sweden)

    Riitta Molarius

    2015-11-01

    Full Text Available Climate change impacts on nature and the environment have been widely discussed and studied. Traditionally, a company’s continuity management is based on risk analysis. There are also attempts to implement scenario-based methods in the risk management procedures of companies. For industrial decision makers, it is vital to acknowledge the impacts of climate change with regards to their adaptation strategies. However, a scenario-based approach is not always the most effective way to analyze these risks. This paper investigates the integration of scenario and risk-based methods for a company’s adaptation planning. It considers the uncertainties of the climate change scenarios and the recognized risks as well as suitable adaptation strategies. The paper presents the results of climate risk analysis prepared for two Finnish hydropower plants. The introduced method was first piloted in 2008 and then again in 2015. The update of the analysis pointed out that at the company level, the climate risks and other risks originating from governmental or political decisions form an intertwined wholeness where the origin of the risk is difficult to outline. It seems that, from the business point of view, the main adaptation strategies suggested by the integrated risk and scenarios approach are those that support buying “safety margins” in new investments and reducing decision time horizons. Both of these adaptation strategies provide an advantage in the circumstances where also political decisions and societal changes have a great effect on decision making.

  18. The role of qualitative risk assessment in environmental management: A Kazakhstani case study

    Energy Technology Data Exchange (ETDEWEB)

    Kajenthira, Arani, E-mail: arani.kajenthira@gmail.com [Belfer Center for Science and International Affairs, Harvard Kennedy School (United States); Department of Engineering Science, University of Oxford (United Kingdom); Holmes, John, E-mail: johnho@earth.ox.ac.uk [Department of Earth Sciences, University of Oxford (United Kingdom); McDonnell, Rachael, E-mail: rachael.mcdonnell@ouce.ox.ac.uk [School of Geography and the Environment, University of Oxford (United Kingdom)

    2012-03-15

    Successful environmental management is partly contingent on the effective recognition and communication of environmental health risks to the public. Yet risk perceptions are known to differ between experts and laypeople; laypeople often exhibit higher perceptions of risk in comparison to experts, particularly when these risks are associated with radiation, nuclear power, or nuclear waste. This paper consequently explores stakeholder risk perceptions associated with a mercury-contaminated chloralkali production facility in Kazakhstan. Using field observations and in-depth interviews conducted in the vicinity of the Pavlodar Chemical Plant, this work assesses the relevance of the substantial on-site mercury contamination to the health and livelihoods of the local population with the goal of informing remediation activity through a combination of quantitative and qualitative risk assessments. The findings of this research study cannot be broadly generalized to all the primary stakeholders of the site due to the small sample size; however, the indifference of the local population towards both the possibility of mercury-related health risks and the need for mitigation activity could pose a substantial barrier to successful site remediation and also suggests that a qualitative understanding of stakeholder risk perceptions could play an important role in striving towards sustainable, long-term environmental risk management. - Highlights: Black-Right-Pointing-Pointer A mercury spill in Kazakhstan created environmental and health risks. Black-Right-Pointing-Pointer We evaluated the role of risk communication/perception in environmental management. Black-Right-Pointing-Pointer Long-term risk mitigation was impeded by lack of engagement of site stakeholders. Black-Right-Pointing-Pointer Prioritizing engagement of the local population is critical for remediation success.

  19. The role of qualitative risk assessment in environmental management: A Kazakhstani case study

    International Nuclear Information System (INIS)

    Kajenthira, Arani; Holmes, John; McDonnell, Rachael

    2012-01-01

    Successful environmental management is partly contingent on the effective recognition and communication of environmental health risks to the public. Yet risk perceptions are known to differ between experts and laypeople; laypeople often exhibit higher perceptions of risk in comparison to experts, particularly when these risks are associated with radiation, nuclear power, or nuclear waste. This paper consequently explores stakeholder risk perceptions associated with a mercury-contaminated chloralkali production facility in Kazakhstan. Using field observations and in-depth interviews conducted in the vicinity of the Pavlodar Chemical Plant, this work assesses the relevance of the substantial on-site mercury contamination to the health and livelihoods of the local population with the goal of informing remediation activity through a combination of quantitative and qualitative risk assessments. The findings of this research study cannot be broadly generalized to all the primary stakeholders of the site due to the small sample size; however, the indifference of the local population towards both the possibility of mercury-related health risks and the need for mitigation activity could pose a substantial barrier to successful site remediation and also suggests that a qualitative understanding of stakeholder risk perceptions could play an important role in striving towards sustainable, long-term environmental risk management. - Highlights: ► A mercury spill in Kazakhstan created environmental and health risks. ► We evaluated the role of risk communication/perception in environmental management. ► Long-term risk mitigation was impeded by lack of engagement of site stakeholders. ► Prioritizing engagement of the local population is critical for remediation success.

  20. A Risk Management Framework to Characterize Black Swan Risks: A Case Study of Lightning Effects on Insensitive High Explosives

    Science.gov (United States)

    Sanders, Gary A.

    Effective and efficient risk management processes include the use of high fidelity modeling and simulation during the concept exploration phase as part of the technology and risk assessment activities, with testing and evaluation tasks occurring in later design development phases. However, some safety requirements and design architectures may be dominated by the low probability/high consequence "Black Swan" vulnerabilities that require very early testing to characterize and efficiently mitigate. Failure to address these unique risks has led to catastrophic systems failures including the space shuttle Challenger, Deepwater Horizon, Fukushima nuclear reactor, and Katrina dike failures. Discovering and addressing these risks later in the design and development process can be very costly or even lead to project cancellation. This paper examines the need for risk management process adoption of early hazard phenomenology testing to inform the technical risk assessment, requirements definition and conceptual design. A case study of the lightning design vulnerability of the insensitive high explosives being used in construction, mining, demolition, and defense industries will be presented to examine the impact of this vulnerability testing during the concept exploration phase of the design effort. While these insensitive high explosives are far less sensitive to accidental initiation by fire, impact, friction or even electrical stimuli, their full range of sensitivities have not been characterized and ensuring safe engineering design and operations during events such as lightning storms requires vulnerability testing during the risk assessment phase.

  1. 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?”

  2. Supply chain risk management

    OpenAIRE

    Christian Hollstein; Frank Himpel

    2013-01-01

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

  3. Exchange Risk Management Policy

    CERN Document Server

    2005-01-01

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

  4. 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…

  5. Management of information security risks in a federal public institution: a case study

    Directory of Open Access Journals (Sweden)

    Jackson Gomes Soares Souza

    2016-11-01

    Full Text Available Public institutions bound to the Brazilian federal public sector must apply security measures, policies, procedures and guidelines as information assets protection measures. This case study sought to determine whether the management of information security risks is applied in a federal public institution according to Information Technology (I.T. managers perceptions and the results expose the importance of the roles played by people, responsibilities, policies, standards, procedures and their implementation aiming greater control of information security risks and opportunities related to information technology security.

  6. How risk and uncertainty is used in Supply Chain Management: a literature study

    DEFF Research Database (Denmark)

    Bøge Sørensen, Lars

    2004-01-01

    Keywords Supply Chain Management, Risk Management, Supply Chain Risk ManagementAbstract To comply with Supply Chain Management dogma companies have cut their inventoriesto a minimum, lead times have been shortened, new suppliers have been chosen and the customerportfolio has been reduced. All...... of these activities impose a great deal of risk on the firms,jeopardizing the survival of entire supply chains. In this article the author intends to investigateand document the use and meaning of Risk and Uncertainty within journals publishing material onSupply Chain Management and Logistics. Subsequently...... suggestions for further research areproposed - the integration of Risk Management into the discipline of Supply Chain Design....

  7. Challenges of Clinical Governance in Risk Management: A Qualitative Study of Teaching Hospitals

    Directory of Open Access Journals (Sweden)

    Mohammad Keshvari

    2017-01-01

    Full Text Available Background: Clinical Governance is a Framework in which health care provider will be responsible for continuous quality improvement. This study aimed to identify implementation challenges of Clinical Governance in the area of risk management. Methods: This is a descriptive-qualitative study. We used Content Analysis method for data analysis. Study environment contained 7 teaching hospitals, and the study population included the hospitals staff engaged in Clinical Governance implementation. Using purposive non-randomised sampling, 18 participants were selected. A semi-structured face-to-face interview was used for data collection. Content Analysis method was used to conceptualize, interpret and analyze the texts and maxQDA software for data analysis. Results: Our research findings presented two main themes as cultural factors and lack of resources. Conclusion: Promoting management as well as empowering health care providers could act as a key factor in addressing problems related to the implementation of risk management in health care environments.

  8. A study on relationship between tail risk on earning management in Iranian banking industry

    Directory of Open Access Journals (Sweden)

    Mohammad Khodaei Valahzaghard

    2013-02-01

    Full Text Available Risk management plays an important role in banking industry and there are literally many investigations to reduce any risk components in this industry. In this paper, we present a study on relationship between tail risk on earning management in Iranian banking industry. In this survey, we use two series of data. The first set is associated with yearly information of 19 different banks over the period 2005-2011 and it contains 114 observations. The second set of data includes weekly historical data of eight banks over the same period 2005-2011. In this survey, there are four objectives to be investigated. The first hypothesis considers the effects of seven independent variables on loan loss allowance as a fraction of total loans. The second model is associated with the effects of two independent variables on realized gains and losses on securities. The third objective is to study the effects of different independent variables with various interruptions on return of banking sectors. Finally, the last model investigates the effects of revenue management on tail risk. The result of this survey indicates that there is no relationship between tail risk and earning management.

  9. Risk management overview

    International Nuclear Information System (INIS)

    McGovern, S.

    1995-01-01

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

  10. The adoption and design of Enterprise Risk Management practices : An empirical study

    NARCIS (Netherlands)

    Paape, L.; Speklé, R.F.

    2012-01-01

    We examine (1) the extent of enterprise risk management (ERM) implementation and the factors that are associated with cross-sectional differences in the level of ERM adoption, and (2) specific risk management design choices and their effect on perceived risk management effectiveness. Broadly

  11. 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…

  12. 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....

  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. Continuing Professional Education of Insurance and Risk Management Practitioners: A Comparative Case Study of Customer Service Representatives, Insurance Agents and Risk Managers

    Science.gov (United States)

    Krauss, George E.

    2009-01-01

    The purpose of this study is to understand how selected insurance practitioners learn and developed in their practices setting. The selected insurance practitioners (collectively customer service representatives, insurance agents, and risk managers) are responsible for the counseling and placement of insurance products and the implementation of…

  15. The management object in risk management approaches

    OpenAIRE

    Christiansen, Ulrik

    2013-01-01

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

  16. Individual Property Risk Management

    Directory of Open Access Journals (Sweden)

    Michael S. Finke

    2010-01-01

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

  17. How risk and uncertainty is used in Supply Chain Management: a literature study

    OpenAIRE

    Bøge Sørensen, Lars

    2004-01-01

    Keywords Supply Chain Management, Risk Management, Supply Chain Risk Management Abstract To comply with Supply Chain Management dogma companies have cut their inventories to a minimum, lead times have been shortened, new suppliers have been chosen and the customer portfolio has been reduced. All of these activities impose a great deal of risk on the firms, jeopardizing the survival of entire supply chains. In this article the author intends to investigate and document the use a...

  18. Quantitative risk management in gas injection project: a case study from Oman oil and gas industry

    Science.gov (United States)

    Khadem, Mohammad Miftaur Rahman Khan; Piya, Sujan; Shamsuzzoha, Ahm

    2017-09-01

    The purpose of this research was to study the recognition, application and quantification of the risks associated in managing projects. In this research, the management of risks in an oil and gas project is studied and implemented within a case company in Oman. In this study, at first, the qualitative data related to risks in the project were identified through field visits and extensive interviews. These data were then translated into numerical values based on the expert's opinion. Further, the numerical data were used as an input to Monte Carlo simulation. RiskyProject Professional™ software was used to simulate the system based on the identified risks. The simulation result predicted a delay of about 2 years as a worse case with no chance of meeting the project's on stream date. Also, it has predicted 8% chance of exceeding the total estimated budget. The result of numerical analysis from the proposed model is validated by comparing it with the result of qualitative analysis, which was obtained through discussion with various project managers of company.

  19. Innovation in coastal risk management: An exploratory analysis of risk governance issues at eight THESEUS study sites

    NARCIS (Netherlands)

    Penning-Rowsell, E.C.; de Vries, W.S.; Parker, D.J.; Zanuttigh, B.; Simmonds, D.; Trifonova, E.; Hissel, F.; Monbaliu, J.; Lendzion, J.; Ohle, N.; Diaz, P.; Bouma, T.

    2014-01-01

    The nature of coastal risk management is changing, away from an engineering-dominated approach seeking to defend against the sea, to one where risks are managed using a portfolio of measures usually incorporating an acceptance of a finite standards of protection. Inherent in the modern approach is

  20. Optimizing risk management

    International Nuclear Information System (INIS)

    Kindred, G.W.

    2000-01-01

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

  1. Internal Audit and Risk Management

    OpenAIRE

    Constantin Nicolae Vasile; Alexandru Georgiana

    2011-01-01

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

  2. Managing Corruption Risks

    DEFF Research Database (Denmark)

    Krause Hansen, Hans

    2011-01-01

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

  3. Risk perception and risk management in cloud computing: results from a case study of Swiss companies

    OpenAIRE

    Brender, Nathalie; Markov, Iliya

    2013-01-01

    In today's economic turmoil, the pay-per-use pricing model of cloud computing, its flexibility and scalability and the potential for better security and availability levels are alluring to both SMEs and large enterprises. However, cloud computing is fraught with security risks which need to be carefully evaluated before any engagement in this area. This article elaborates on the most important risks inherent to the cloud such as information security, regulatory compliance, data location, inve...

  4. Processes influencing the development of graduate nurse capabilities in clinical risk management: an Australian study.

    Science.gov (United States)

    Johnstone, Megan-Jane; Kanitsaki, Olga

    2006-01-01

    To explore and describe key processes influencing the development of graduate nurse capabilities in clinical risk management (CRM). This study was undertaken using an exploratory descriptive case study method. Four sample units of analysis were used, notably: 2 cohorts of graduate nurses (n = 11) undertaking a 12-month graduate nurse transition program; key stakeholders (n = 34), that is, nurse unit managers, clinical teachers, preceptors, a quality manager, a librarian, and senior nurse administrators employed by the participating health service; patient outcome data; and pertinent literature. Data strongly suggested that graduate nurse capabilities in CRM were most influenced not by their supposed lack of clinical knowledge and skills but by their lack of corporate knowledge. The failure to provide new graduate nurses with pertinent information on CRM at the beginning of their employment and thereafter at pertinent intervals during the graduate nurse year program aslo hindered the development of their capabilities to manage clinical risk. Management and educational processes pertinent to informing and involving new graduate nurses in a hospital's local CRM program (including information about the organization's local policies and procedures) need to be implemented systematically at the very beginning of a new graduate's employment and thereafter throughout the remainder of the graduate nurse year.

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

    Science.gov (United States)

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

    2016-02-15

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

  6. 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.

  7. Supply Chian Risk Management in China -- A cae study of two manufacturing companies in China

    OpenAIRE

    Sui, Zhiyu

    2013-01-01

    In the currently business world, companies face high competitive pressures from trends of global outsourcing, varieties of product types, shorter products life cycle. This result in increasing complexity of supply chain network and a high level of supply chain risks. In addition, supply chain risk management become vital and can be used to mitigate supply chain risks. There are many previous research focused on supply chain risk management in developed countries, but not many take depth resea...

  8. 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 ...

  9. COST OF TAX COMPLIANCE AND RISK MANAGEMENT IN PROJECTS: THE CASE STUDY OF A SMALL ENTERPRISE

    Directory of Open Access Journals (Sweden)

    Mario Manzini Cianfanelli

    2010-06-01

    Full Text Available This study uses a risk management perspective to analyze compliance costs arising from overlapping service tax (ST jurisdictions. We study the case of an engineering company providing services to the Companhia de Saneamento Básico do Estado de São Paulo [São Paulo State Sanitation Company] – SABESP, a public entity. The engineering company was contracted under public law 8.666/93, to provide engineering service in several townships in São Paulo’s metropolitan area. Because the laws governing bidding do not permit later modification in price or provider, subsequent double taxation by one municipality cut into the firm’s margins, and should other local governments follow suit, multiple taxation would render the contract untenable for the provider. Our paper models the impact of conflicting jurisdictions on administrative burden, psychological costs and profit constriction and discusses project management techniques for decision making and management in similar situations.

  10. Integrasi Frame Work Risk and Insurance Management Society (RIMS dalam Analisis Kematangan Implementasi Manajemen Risiko (Studi Kasus: PLTA Maninjau

    Directory of Open Access Journals (Sweden)

    Taufik Taufik

    2016-04-01

    Full Text Available Indonesia electrical energy consumption growth that reached 9.2% per year requires every plant to always pursue consistent and sustainable improvement to be able to cope with the growth. Maninjau Hydropower is one of the assets of strategic energy resources to meet the electrical energy supply, especially for the southern Sumatera region. Risk management in Maninjau hydropower take place without any standard of measurement standards, so management and risk management actors do not have an overview and guide to improve the performance of the risk management activities. In this study, a standard measure used is to measure the level of maturity of the risk management implementation using the framework of the Risk and Insurance Management Society (RIMS for Enterprise Risk Management (ERM. Measurements carried out for the realization of the value and the expected value of risk management implementation in Maninjau hydropower, as well as designing the evaluation chart implementation of risk management by integrating Key Risk Indicators (KRI from the expected value. Based on the results of the measurements made, it was found that the actual implementation of risk management in Maninjau hydropower located on the third level (repeatable, while the implementation of the expectation value is found to be at the highest level (leadership, and the percentage achieving overall expectation value has reached 62%. The draft also raises the risk evaluation chart 15 Key Risk Indicators to be achieved by Maninjau hydropower to achieve the expected value at the leadership level. Keywords: Risk Management, RIMS for ERM, KRI

  11. A Case Study of Risk Informed Asset Management (RIAM) for Nuclear Power Plant

    International Nuclear Information System (INIS)

    Lee, Gyoung Cheol; Jeong, Yong Hoon; Chang, Soon Heung; Chung, Dae Wook

    2006-01-01

    Recently, the concern for Nuclear Asset Management (NAM) is increasing in nuclear industry. Asset Management is management of the financial assets of a company in order to maximize return. However, asset management in the nuclear industry is needed for coincidental consideration of nuclear safety and risk. Over fast several years, efforts for development of safety concerned and financial asset maximizing method, process and tools have been continued internationally. Risk Informed Asset Management (RIAM) is a methodology, process, and (eventually) software tool by which analyst review historical performance and develop predictive logic models and data analyses to provide plant manager and company decision-makers critical quantitative performance indicators

  12. Flood Risk Management in Remote and Impoverished Areas—A Case Study of Onaville, Haiti

    Directory of Open Access Journals (Sweden)

    Valentin Heimhuber

    2015-07-01

    Full Text Available In this study, geographic information system (GIS-based hydrologic and hydraulic modeling was used to perform a flood risk assessment for Onaville, which is a fairly new, rapidly growing informal settlement that is exposed to dangerous flash-flood events. Since records of historic floods did not exist for the study area, design storms with a variety of significant average return intervals (ARIs were derived from intensity-duration-frequency (IDF curves and transformed into design floods via rainfall-runoff modeling in hydrologic engineering center’s hydrologic modeling system (HEC-HMS. The hydraulic modeling software hydrologic engineering center’s river analysis system (HEC-RAS was used to perform one-dimensional, unsteady-flow simulations of the design floods in the Ravine Lan Couline, which is the major drainage channel of the area. Topographic data comprised a 12 m spatial resolution TanDEM-X digital elevation model (DEM and a 30 cm spatial resolution DEM created with mapping drones. The flow simulations revealed that large areas of the settlement are currently exposed to flood hazard. The results of the hydrologic and hydraulic modeling were incorporated into a flood hazard map which formed the basis for flood risk management. We present a grassroots approach for preventive flood risk management on a community level, which comprises the elaboration of a neighborhood contingency plan and a flood risk awareness campaign together with representatives of the local community of Onaville.

  13. 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

  14. Governmental management of chemical risk

    International Nuclear Information System (INIS)

    Zimmerman, R.

    1990-01-01

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

  15. Risk management versus incentives

    International Nuclear Information System (INIS)

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

    2006-01-01

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

  16. Risk management guide

    International Nuclear Information System (INIS)

    Briscoe, G.J.

    1977-06-01

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

  17. BIBLIOGRAPHIC STUDY IN RISK MANAGEMENT AIMED TO IDENTIFY MORE REFERENCED TOOLS, METHODS AND RELATIONSHIPS

    Directory of Open Access Journals (Sweden)

    Alamir Costa Louro

    2015-06-01

    Full Text Available The objective of this paper is to identify and discuss trends in tools and methods used in project risk management and its relationship to other matters, using current scientific articles. The focus isn´t in understanding how they work in technical terms, but think about the possibilities of deepening in academic studies, including making several suggestions for future research. Adjacent to the article there is a discussion about an alleged "one best way" imperative normativity approach. It was answered the following research questions: what subjects and theories are related to project risk management tools and methods? The first contribution is related to the importance of the academic Chris Chapman as an author who has more published and also more referenced in the survey. There are several contributions on various subjects such as: the perception of the existence of many conceptual papers; papers about construction industry, problematization of contracts according to agency theory, IT and ERPs issues. Other contributions came from the bibliometric method that brings lot of consolidated information about terms, topics, authors, references, periods and, of course, methods and tools about Project Risk Management.

  18. Pilot study risk assessment for selected problems at the Fernald Environmental Management Project (FEMP)

    Energy Technology Data Exchange (ETDEWEB)

    Hamilton, L.D.; Meinhold, A.F.; Baxter, S.L.; Holtzman, S.; Morris, S.C.; Pardi, R.; Rowe, M.D.; Sun, C. (Brookhaven National Lab., Upton, NY (United States)); Anspaugh, L.; Layton, D. (Lawrence Livermore National Lab., CA (United States))

    1993-03-01

    Two important environmental problems at the USDOE Fernald Environmental Management Project (FEMP) facility in Fernald, Ohio were studied in this human health risk assessment. The problems studied were radon emissions from the K-65 waste silos, and offsite contamination of ground water with uranium. Waste from the processing of pitchblende ore is stored in the K-65 silos at the FEMP. Radium-226 in the waste decays to radon gas which escapes to the outside atmosphere. The concern is for an increase in lung cancer risk for nearby residents associated with radon exposure. Monitoring data and a gaussian plume transport model were used to develop a source term and predict exposure and risk to fenceline residents, residents within 1 and 5 miles of the silos, and residents of Hamilton and Cincinnati, Ohio. Two release scenarios were studied: the routine release of radon from the silos and an accidental loss of one silo dome integrity. Exposure parameters and risk factors were described as distributions. Risks associated with natural background radon concentrations were also estimated.

  19. Pilot study risk assessment for selected problems at the Fernald Environmental Management Project (FEMP)

    International Nuclear Information System (INIS)

    Hamilton, L.D.; Meinhold, A.F.; Baxter, S.L.; Holtzman, S.; Morris, S.C.; Pardi, R.; Rowe, M.D.; Sun, C.; Anspaugh, L.; Layton, D.

    1993-03-01

    Two important environmental problems at the USDOE Fernald Environmental Management Project (FEMP) facility in Fernald, Ohio were studied in this human health risk assessment. The problems studied were radon emissions from the K-65 waste silos, and offsite contamination of ground water with uranium. Waste from the processing of pitchblende ore is stored in the K-65 silos at the FEMP. Radium-226 in the waste decays to radon gas which escapes to the outside atmosphere. The concern is for an increase in lung cancer risk for nearby residents associated with radon exposure. Monitoring data and a gaussian plume transport model were used to develop a source term and predict exposure and risk to fenceline residents, residents within 1 and 5 miles of the silos, and residents of Hamilton and Cincinnati, Ohio. Two release scenarios were studied: the routine release of radon from the silos and an accidental loss of one silo dome integrity. Exposure parameters and risk factors were described as distributions. Risks associated with natural background radon concentrations were also estimated

  20. 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...

  1. Tailoring Risk Management in Design

    DEFF Research Database (Denmark)

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

    2018-01-01

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

  2. Business continuity and risk management at a strategic level: Case study of the Flemish government.

    Science.gov (United States)

    Bouve, Joris; Steens, Herman-Peter; Ruebens, Martin

    2018-01-01

    The Flemish government comprises a number of different departments and agencies with the autonomy to optimise their service level in a proactive and resilient manner. Recently, the Flemish government defined four organisational values: openness, decisiveness, trust and agility. In addition, the Internal Audit Agency developed guidelines concerning internal control and organisational management, in which risk management was emphasised. In combination with goal setting and process management, this paper considers risk management as a starting point for the overall management of Flemish government entities. The paper then develops tools to support the establishment of business continuity and risk management processes. These tools fit into the organisation's strategic framework and are easy to understand, pragmatically designed and flexible in their use. The paper goes on to illustrate how the Department of the Chancellery and Public Governance is implementing BCM and risk management, and how it is integrating BCM, risk management and crisis management. It will then focus on the Flemish government's long-term strategy across the boundaries between the different entities and the question of how risk management can become a useful tool for policy makers.

  3. Air quality risk management.

    Science.gov (United States)

    Williams, Martin L

    2008-01-01

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

  4. Managing power risk

    International Nuclear Information System (INIS)

    Rudd, D.C.

    1999-01-01

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

  5. Considerations on Integrating Risk and Quality Management

    Directory of Open Access Journals (Sweden)

    Maria POPESCU

    2011-03-01

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

  6. Management of radiation risk

    International Nuclear Information System (INIS)

    Hubert, P.

    1996-01-01

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

  7. Risk Management and Value Creation

    DEFF Research Database (Denmark)

    Andersen, Torben Juul; Roggi, Oliviero

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

  8. Water Safety Plan for drinking water risk management: the case study of Mortara (Pavia, Italy

    Directory of Open Access Journals (Sweden)

    Sabrina Sorlini

    2017-08-01

    Full Text Available The Water Safety Plan (WSP approach is an iterative method focused on analyzing the risks of water contamination in a drinking water supply system, from catchment to consumer, in order to protect human health. This approach is aimed at identifying and drastically reducing water contamination in the entire drinking water system, through the identification and mitigation or, if possible, elimination of all factors that may cause a chemical, physical, microbiological and radiological risk for water. This study developed a proposal of WSP for the drinking water supply system (DWSS of Mortara, Italy, in order to understand which are the preliminary evaluation aspects to be considered in the elaboration of a WSP. The DWSS of Mortara (a town of 15,500 inhabitants, located in northern Italy consists of three drinking water treatment plants (DWTPs, considering the following main contaminants: arsenic, iron, manganese and ammonia. Potential hazardous events and associated hazards were identified in each part of the water supply system. The risk assessment was carried out following the semi quantitative approach. The WSP proposal for Mortara was very useful not only as a risk mitigation approach, but also as a cost-effective tool for water suppliers. Furthermore, this approach will reduce public health risk, ensure a better compliance of water quality parameters with regulatory requirements, increase confidence of consumers and municipal authorities, and improve resource management due to intervention planning. Further, some new control measures are proposed by the WSP team within this work.

  9. Managing Chemical & Material Risks

    Science.gov (United States)

    2011-12-01

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

  10. Managing risk at Hanford

    International Nuclear Information System (INIS)

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

    1994-01-01

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

  11. 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

    2015-12-01

    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.

  12. Drug utilization research and risk management

    NARCIS (Netherlands)

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

    2016-01-01

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

  13. A Numerical Study for Robust Active Portfolio Management with Worst-Case Downside Risk Measure

    Directory of Open Access Journals (Sweden)

    Aifan Ling

    2014-01-01

    Full Text Available Recently, active portfolio management problems are paid close attention by many researchers due to the explosion of fund industries. We consider a numerical study of a robust active portfolio selection model with downside risk and multiple weights constraints in this paper. We compare the numerical performance of solutions with the classical mean-variance tracking error model and the naive 1/N portfolio strategy by real market data from China market and other markets. We find from the numerical results that the tested active models are more attractive and robust than the compared models.

  14. Investigation of risk management auditing

    International Nuclear Information System (INIS)

    Cao Lu

    2012-01-01

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

  15. 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...

  16. Risk management in customs control

    OpenAIRE

    Drobot, Elena; Klevleeva, Aziza

    2016-01-01

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

  17. Risk management in nuclear projects

    International Nuclear Information System (INIS)

    Salles, Claudio J.R.

    2002-01-01

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

  18. DreamTel; Diabetes risk evaluation and management tele-monitoring study protocol.

    Science.gov (United States)

    Tobe, Sheldon W; Wentworth, Joan; Ironstand, Laurie; Hartman, Susan; Hoppe, Jackie; Whiting, Judi; Kennedy, Janice; McAllister, Colin; Kiss, Alex; Perkins, Nancy; Vincent, Lloyd; Pylypchuk, George; Lewanczuk, Richard Z

    2009-05-09

    The rising prevalence of type 2 diabetes underlines the importance of secondary strategies for the prevention of target organ damage. While access to diabetes education centers and diabetes intensification management has been shown to improve blood glucose control, these services are not available to all that require them, particularly in rural and northern areas. The provision of these services through the Home Care team is an advance that can overcome these barriers. Transfer of blood glucose data electronically from the home to the health care provider may improve diabetes management. The study population will consist of patients with type 2 diabetes with uncontrolled A1c levels living on reserve in the Battlefords region of Saskatchewan, Canada. This pilot study will take place over three phases. In the first phase over three months the impact of the introduction of the Bluetooth enabled glucose monitor will be assessed. In the second phase over three months, the development of guidelines based treatment algorithms for diabetes intensification will be completed. In the third phase lasting 18 months, study subjects will have diabetes intensification according to the algorithms developed. The first phase will determine if the use of the Bluetooth enabled blood glucose devices which can transmit results electronically will lead to changes in A1c levels. It will also determine the feasibility of recruiting subjects to use this technology. The rest of the Diabetes Risk Evaluation and Management Tele-monitoring (DreamTel) study will determine if the delivery of a diabetes intensification management program by the Home Care team supported by the Bluetooth enabled glucose meters leads to improvements in diabetes management. Protocol NCT00325624.

  19. DreamTel; Diabetes risk evaluation and management tele-monitoring study protocol

    Directory of Open Access Journals (Sweden)

    Kiss Alex

    2009-05-01

    Full Text Available Abstract Background The rising prevalence of type 2 diabetes underlines the importance of secondary strategies for the prevention of target organ damage. While access to diabetes education centers and diabetes intensification management has been shown to improve blood glucose control, these services are not available to all that require them, particularly in rural and northern areas. The provision of these services through the Home Care team is an advance that can overcome these barriers. Transfer of blood glucose data electronically from the home to the health care provider may improve diabetes management. Methods and design The study population will consist of patients with type 2 diabetes with uncontrolled A1c levels living on reserve in the Battlefords region of Saskatchewan, Canada. This pilot study will take place over three phases. In the first phase over three months the impact of the introduction of the Bluetooth enabled glucose monitor will be assessed. In the second phase over three months, the development of guidelines based treatment algorithms for diabetes intensification will be completed. In the third phase lasting 18 months, study subjects will have diabetes intensification according to the algorithms developed. Discussion The first phase will determine if the use of the Bluetooth enabled blood glucose devices which can transmit results electronically will lead to changes in A1c levels. It will also determine the feasibility of recruiting subjects to use this technology. The rest of the Diabetes Risk Evaluation and Management Tele-monitoring (DreamTel study will determine if the delivery of a diabetes intensification management program by the Home Care team supported by the Bluetooth enabled glucose meters leads to improvements in diabetes management. Trial Registration Protocol NCT00325624

  20. Management and environmental risk study of the physicochemical parameters of ballast water

    International Nuclear Information System (INIS)

    Nosrati-Ghods, Nosaibeh; Ghadiri, Mehdi; Früh, Wolf-Gerrit

    2017-01-01

    Shipping is a vital industry for the global economy. Stability of ships, provided by ballast water, is a crucial factor for cargo loading and unloading processes. Ballast water treatment has practical significance in terms of environmental issues, ecosystem, and human health, because ships discharge this water into the environment before loading their cargos. This study reviews the common methods for ballast water management – exchange, heating, filtration, ultrasonic treatment, ultraviolet irradiation, chemicals, and gas supersaturation – to select the best one. This study compares water temperature, salinity, dissolved oxygen, polycyclic aromatic hydrocarbons (PAHs), and heavy metals (Co, Cr, Ni, Pb) for ballast tanks of selected ships with the recipient port environment in the Persian Gulf as a case study. The exchange of ballast water in the ocean and/or its treatment on board to prevent inadvertent effects on the environment's physicochemical conditions is related to vessel characteristics, legislation, and the environmental condition. Ecological risk study showed that the salt content in ballast water is close to that of seawater, but the values of Cr (2.1 mg/l) and Ni (0.029 mg/l) in ballast water are higher than those in seawater (1 and 0.004 mg/l, respectively). - Highlights: • Description of ballast water management methods. • Experimental investigation of ballast water and seawater. • Differences of physiochemical characteristics of ballast water and seawater. • Selection of the best ballast water management method.

  1. Linking Risk Management Practices and Strategies to Performance. Case Study: Ceramic and Tiles Industry

    OpenAIRE

    Hamideh Khanzadeh Charkhab; Mohammad Reza Eslami; Hassan Dehghan Dehnavi

    2014-01-01

    The supply chain is a network of independent and linked organizations that cooperate in direction to controlling, managing and improving of material and information flow from suppliers to final consumers in order to meet satisfaction of client. Supply chain risk management (SCRM) is very important in industry especially that goes to long supply chains. SCRM process focus on recognition of existing risk and decrease of undesired effect in supply chains, it consists of recognition, assessment, ...

  2. Safety Risk Knowledge Elicitation in Support of Aeronautical R and D Portfolio Management: A Case Study

    Science.gov (United States)

    Shih, Ann T.; Ancel, Ersin; Jones, Sharon Monica; Reveley, Mary S.; Luxhoj, James T.

    2012-01-01

    Aviation is a problem domain characterized by a high level of system complexity and uncertainty. Safety risk analysis in such a domain is especially challenging given the multitude of operations and diverse stakeholders. The Federal Aviation Administration (FAA) projects that by 2025 air traffic will increase by more than 50 percent with 1.1 billion passengers a year and more than 85,000 flights every 24 hours contributing to further delays and congestion in the sky (Circelli, 2011). This increased system complexity necessitates the application of structured safety risk analysis methods to understand and eliminate where possible, reduce, and/or mitigate risk factors. The use of expert judgments for probabilistic safety analysis in such a complex domain is necessary especially when evaluating the projected impact of future technologies, capabilities, and procedures for which current operational data may be scarce. Management of an R&D product portfolio in such a dynamic domain needs a systematic process to elicit these expert judgments, process modeling results, perform sensitivity analyses, and efficiently communicate the modeling results to decision makers. In this paper a case study focusing on the application of an R&D portfolio of aeronautical products intended to mitigate aircraft Loss of Control (LOC) accidents is presented. In particular, the knowledge elicitation process with three subject matter experts who contributed to the safety risk model is emphasized. The application and refinement of a verbal-numerical scale for conditional probability elicitation in a Bayesian Belief Network (BBN) is discussed. The preliminary findings from this initial step of a three-part elicitation are important to project management practitioners as they illustrate the vital contribution of systematic knowledge elicitation in complex domains.

  3. Continuous Risk Management: An Overview

    Science.gov (United States)

    Rosenberg, Linda; Hammer, Theodore F.

    1999-01-01

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

  4. Critical Success Factors for an Effective Security Risk Management Program in an Organization: An Exploratory Case Study

    Science.gov (United States)

    Zafar, Humayun

    2010-01-01

    This study investigates differences in perception between layers of management (executive, middle, and lower) and staff with regard to the influence of critical success factors (CSFs) on security risk management (SRM) effectiveness. This is an in-depth case study conducted at a Fortune 500 company. Rockart's (1979) CSF method is modified through…

  5. Evaluating management risks using landscape trajectory analysis: a case study of California fisher

    Science.gov (United States)

    Craig M. Thompson; William J. Zielinski; Kathryn L. Purcell

    2011-01-01

    Ecosystem management requires an understanding of how landscapes vary in space and time, how this variation can be affected by management decisions or stochastic events, and the potential consequences for species. Landscape trajectory analysis, coupled with a basic knowledge of species habitat selection, offers a straightforward approach to ecological risk analysis and...

  6. 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.

  7. Nuclear risk management

    International Nuclear Information System (INIS)

    2001-01-01

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

  8. Nuclear risk management

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-07-01

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

  9. Credit risk management in banks

    OpenAIRE

    Pětníková, Tereza

    2014-01-01

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

  10. A Value Measure for Public-Sector Enterprise Risk Management: A TSA Case Study.

    Science.gov (United States)

    Fletcher, Kenneth C; Abbas, Ali E

    2018-05-01

    This article presents a public value measure that can be used to aid executives in the public sector to better assess policy decisions and maximize value to the American people. Using Transportation Security Administration (TSA) programs as an example, we first identify the basic components of public value. We then propose a public value account to quantify the outcomes of various risk scenarios, and we determine the certain equivalent of several important TSA programs. We illustrate how this proposed measure can quantify the effects of two main challenges that government organizations face when conducting enterprise risk management: (1) short-term versus long-term incentives and (2) avoiding potential negative consequences even if they occur with low probability. Finally, we illustrate how this measure enables the use of various tools from decision analysis to be applied in government settings, such as stochastic dominance arguments and certain equivalent calculations. Regarding the TSA case study, our analysis demonstrates the value of continued expansion of the TSA trusted traveler initiative and increasing the background vetting for passengers who are afforded expedited security screening. © 2017 Society for Risk Analysis.

  11. Managing economic risks through simulation

    International Nuclear Information System (INIS)

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

    1994-01-01

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

  12. Risk management for noncombustion wastes

    International Nuclear Information System (INIS)

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

    1991-01-01

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

  13. Current Chemical Risk Management Activities

    Science.gov (United States)

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

  14. Risk Management in the Nigerian Banking Industry: A Case Study of Guaranty Trust Bank

    OpenAIRE

    Usman, Fatima

    2014-01-01

    Every organisation exists to provide value of its stakeholders, as a result they have to take make decisions that involves risks and they also have to take on some risks in order to deliver returns. Also, all banking institutions in the process of providing services face financial risk and failure to manage these risks can result in loss in earnings, failure to meet business objectives, these factors in general may hinder a bank’s inability to conduct its on-going business and business surviv...

  15. Managing Complex Environmental Risks

    Energy Technology Data Exchange (ETDEWEB)

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

    2006-09-15

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

  16. Managing Complex Environmental Risks

    International Nuclear Information System (INIS)

    Karlsson, Mikael

    2006-01-01

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

  17. 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.

  18. Price Risk and Risk Management in Agriculture

    Directory of Open Access Journals (Sweden)

    Udo Broll

    2013-06-01

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

  19. Studying fire mitigation strategies in multi-ownership landscapes: balancing the management of fire-dependent ecosystems and fire risk

    Science.gov (United States)

    Brian R. Sturtevant; Brian R. Miranda; Jian Yang; Hong S. He; Eric J. Gustafson; Robert M. Scheller

    2009-01-01

    Public forests are surrounded by land over which agency managers have no control, and whose owners expect the public forest to be a "good neighbor." Fire risk abatement on multi-owner landscapes containing flammable but fire-dependent ecosystems epitomizes the complexities of managing public lands. We report a case study that applies a landscape disturbance...

  20. Risk management for industrial safety

    International Nuclear Information System (INIS)

    Novogno, A.

    1989-01-01

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

  1. Performance measurement of receivable accounts’ risk management: A case study of Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Mohammad Ahmadi

    2013-06-01

    Full Text Available This paper presents a logistic regression model to measure risk management of receivable accounts on some selected firms from drug industry listed on Tehran Stock Exchange. The proposed study of this paper considers the effects of different variables such as current ratio, quick ratio, working capital on total assets and cash flow on economic value added. We gather the necessary information of 29 firms over the period 2006-2011. The results of our survey indicate that the proposed model of this paper is capable of forecasting high profit firms with a probability of 87.5%, 58.62% is the likelihood of predicting less profitable firms and on average, the firm could forecast profitable firms for 75.54%, successfully.

  2. 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.

  3. Managing wetlands for disaster risk reduction: A case study of the eastern Free State, South Africa

    Directory of Open Access Journals (Sweden)

    Johannes A. Belle

    2018-03-01

    Full Text Available This article investigated the knowledge and practice of a nature-based solution to reduce disaster risks of drought, veld fires and floods using wetlands in the eastern Free State, South Africa. A mixed research method approach was used to collect primary data using three data collection tools, namely questionnaires, interviews and field observations. Ninety-five wetlands under communal and private ownership as well as a few in protected areas were sampled, with their users completing questionnaires. The study showed that communal wetlands were more degraded, while wetlands in protected areas and in private commercial farms were in a good ecological state. An extensive literature review reveals that healthy wetlands are effective buffers in reducing disaster risks such as drought, veld fires and floods which are recurrent in the study area. Therefore, through better land-use and management practices, backed by education and awareness, wetlands could be good instruments to mitigate recurrent natural hazards in the agriculturally dominated eastern Free State in South Africa.

  4. CEA - 2014 risk management assessment

    International Nuclear Information System (INIS)

    Bonnevie, Edwige; Verwaerde, Daniel; Maillot, Bernard

    2015-06-01

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

  5. CEA: risk management assessment 2011

    International Nuclear Information System (INIS)

    Bigot, Bernard; Bonnevie, Edwige; Maillot, Bernard

    2012-01-01

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

  6. The Risk Management Functions in the Conditions of Globalization: Case Study of the Republic of Serbia

    Directory of Open Access Journals (Sweden)

    Zlatija Jelenković

    2016-09-01

    Full Text Available Globalization, which represents an important transmission mechanism of the crisis, has led to the necessity for controlling various risks of business, setting a new line of management in companies, regardless of the main business activity they are engaged in. The economic crisis in general, and especially the global financial crises (2007 and the present one led to bankruptcy, and thus to loss of funds of many businesses and individuals. Therefore, it was necessary, on the one hand, to ensure confidence in the financial system and to maintain its stability. On the other hand, the development of corporate governance and separation of functions of ownership and management insisted on the creation of functions that directly report to the owners of capital, such as risk management and internal audit. The value of this paper is in emphasizing the new management function and raising awareness of the scientific public and businesses about the need for introduction of risk management functions in order to facilitate effective management of enterprises, although the survey (2012-2015 has shown that the existence of legal obligations, in this regard penal policy, is the only thing that effectively establishes and promotes this area.

  7. 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...

  8. Risk Management in Cocurricular Activities.

    Science.gov (United States)

    Webb, Edward M.

    1988-01-01

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

  9. INTERNAL AUDIT AND RISK MANAGEMENT

    OpenAIRE

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

    2014-01-01

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

  10. 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

  11. The Attitude of Civil Engineering Students towards Health and Safety Risk Management: A Case Study

    Science.gov (United States)

    Petersen, A. K.; Reynolds, J. H.; Ng, L. W. T.

    2008-01-01

    The highest rate of accidents and injuries in British industries has been reported by the construction industry during the past decade. Since then stakeholders have recognised that a possible solution would be to inculcate a good attitude towards health and safety risk management in undergraduate civil engineering students and construction…

  12. 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.

  13. 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).

  14. Integrating ecosystem services into risk management decisions: case study with Spanish citrus and the insecticide chlorpyrifos.

    Science.gov (United States)

    Deacon, Samantha; Norman, Steve; Nicolette, Joseph; Reub, Gregory; Greene, Gretchen; Osborn, Rachel; Andrews, Paul

    2015-02-01

    The European regulatory system for the approval of pesticides includes a thorough evaluation of risks to the environment and is designed to be protective of ecosystems. However, a decision to ban an agrochemical could also potentially have a negative impact on the value of ecosystem services, if resulting changes in crop management are damaging to ecosystems or result in negative socio-economic impacts. To support regulatory decision-making, consideration of ecosystem services to identify best environmental management options could be a way forward. There is generally a growing trend for the consideration of ecosystem services in decision making. Ecosystems provide the conditions for growing food, regulate water and provide wildlife habitats; these, amongst others, are known as ecosystem services. The objectives of this case study were to bring a holistic approach to decision making by valuing the environmental, social and economic benefits derived from the use of chlorpyrifos in Valencian citrus production. Spanish growers harvest between 5 and 6 milliont of citrus annually, worth an estimated €5 to 7 billion in food markets throughout Europe. The approach highlighted the potential for unintended negative consequences of regulatory decisions if the full context is not considered. In this study, rather than a regulatory restriction, the best option was the continued use of chlorpyrifos together with vegetated conservation patches as refuges for non-target insects. The conservation patches offset potential insecticidal impacts to insects whilst maintaining citrus production, farm income and the amenity value of the citrus landscape of Valencia. This was an initial proof-of-concept study and illustrates the importance of a wider perspective; other cases may have different outcomes depending on policies, the pesticide, crop scenarios, farm economics and the region. Copyright © 2014 Elsevier B.V. All rights reserved.

  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. Managing information technology security risk

    Science.gov (United States)

    Gilliam, David

    2003-01-01

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

  17. Credit derivatives and risk management

    OpenAIRE

    Michael S. Gibson

    2007-01-01

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

  18. Are managers' and the general public's perceptions of risk communication needs in line? A French alpine valley case study

    Science.gov (United States)

    Charrière, Marie; Sprague, Teresa; Bogaard, Thom; Greiving, Stefan; Malet, Jean-Philippe; Mostert, Erik

    2013-04-01

    Risk communication is a crucial element of risk management. It contributes to social capacity building by influencing the knowledge, attitude, behavior, psychology, as well as social and organizational aspects1,2. It is globally recognized that effective risk communication should address needs and requirements of targeted audiences, especially those of the public. This study compares needs and requirements related to risk communication as seen by the risk managers, with the needs and requirements as expressed by the general public. Two surveys were conducted in a mountainous region facing multi-hazards, the Ubaye valley (France). The first survey, conducted within the context of the Marie Curie Research and Training Network 'Mountain Risk', was addressed to the local community. It aimed at gathering perceptions, needs and requirements of the general public (344 respondents) on risk communication3. The second survey, conducted in the context of the Marie Curie Initial Training Network 'CHANGES', targeted risk managers (16 stakeholders of the authorities, technical services and emergency units) at both the local and the regional scale to evaluate their perceptions regarding risk communication with the general public. The needs and requirements were analyzed with respect to several dimensions: 1) the information provided to the public, 2) the legal requirements for communication, 3) the level of trust the population has in risk managers, 4) insights on awareness and preparedness, and 5) information on the media used in past communication efforts. Results of the analysis concerning the last dimension reveal that, while the general public mentioned press, official reports and technical reports as the top three media by which they received information, the risk managers cited the press but in contrast also selected radio and television. Other results indicate that a potential mismatch exists as more than 80% of the respondents of the population find all listed topics

  19. The Key to Risk Management: Management

    OpenAIRE

    Adrian E. Tschoegl

    2000-01-01

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

  20. 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...

  1. 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...

  2. Distributional Effects of EU Flood Risk Management and the Law : The Netherlands, Flanders and France as case studies

    NARCIS (Netherlands)

    van Doorn-Hoekveld, Willemijn

    2018-01-01

    Flood risk management is a policy field in which the distribution of burdens and benefits plays an important role. As flood risks are distributed unequally among the members of society, people in risk areas benefit more from flood risk management than people living in a relatively ‘risk-free’ area.

  3. Trends in risk management in nuclear industry

    International Nuclear Information System (INIS)

    Kim, Inn Seock

    1996-01-01

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

  4. 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...

  5. Risk management with options and futures under liquidity risk

    OpenAIRE

    Adam-Müller, A F A; Panaretou, A

    2009-01-01

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

  6. Understanding and managing risk attitude

    National Research Council Canada - National Science Library

    Hillson, David; Murray-Webster, Ruth

    2007-01-01

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

  7. 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.

  8. Risk Management of NASA Projects

    Science.gov (United States)

    Sarper, Hueseyin

    1997-01-01

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

  9. RISK MANAGEMENT OF GERMAN FRUIT PRODUCERS

    Directory of Open Access Journals (Sweden)

    Annkatrin PORSCH

    2018-03-01

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

  10. Managing Financial Risk to Hydropower in Snow Dominated Systems: A Hetch Hetchy Case Study

    Science.gov (United States)

    Hamilton, A. L.; Characklis, G. W.; Reed, P. M.

    2017-12-01

    Hydropower generation in snow dominated systems is vulnerable to severe shortfalls in years with low snowpack. Meanwhile, generators are also vulnerable to variability in electricity demand and wholesale electricity prices, both of which can be impacted by factors such as temperature and natural gas price. Year-to-year variability in these underlying stochastic variables leads to financial volatility and the threat of low revenue periods, which can be highly disruptive for generators with large fixed operating costs and debt service. In this research, the Hetch Hetchy Power system is used to characterize financial risk in a snow dominated hydropower system. Owned and operated by the San Francisco Public Utilities Commission, Hetch Hetchy generates power for its own municipal operations and sells excess power to irrigation districts, as well as on the wholesale market. This investigation considers the effects of variability in snowpack, temperature, and natural gas price on Hetch Hetchy Power's yearly revenues. This information is then used to evaluate the effectiveness of various financial risk management tools for hedging against revenue variability. These tools are designed to mitigate against all three potential forms of financial risk (i.e. low hydropower generation, low electricity demand, and low/high electricity price) and include temperature-based derivative contracts, natural gas price-based derivative contracts, and a novel form of snowpack-based index insurance contract. These are incorporated into a comprehensive risk management portfolio, along with self-insurance in which the utility buffers yearly revenue volatility using a contingency fund. By adaptively managing the portfolio strategy, a utility can efficiently spread yearly risks over a multi-year time horizon. The Borg Multiobjective Evolutionary Algorithm is used to generate a set of Pareto optimal portfolio strategies, which are used to compare the tradeoffs in objectives such as expected

  11. Integrated health and environmental risk assessment and risk management in large industrial areas. Case study Zagreb (CSZ). Final report for 1992

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1992-07-01

    This report is the result of the Phase 1 of the research within the Case Study Zagreb co-financed by the IAEA according to the project YUG/9/029. The basic long term aim of the project is the reduction in hazards to human health and to the environment in the area of Zagreb. This project is about risk assessment and risk management to achieve the environment protection goals.

  12. Integrated health and environmental risk assessment and risk management in large industrial areas. Case study Zagreb (CSZ). Final report for 1992

    International Nuclear Information System (INIS)

    1992-01-01

    This report is the result of the Phase 1 of the research within the Case Study Zagreb co-financed by the IAEA according to the project YUG/9/029. The basic long term aim of the project is the reduction in hazards to human health and to the environment in the area of Zagreb. This project is about risk assessment and risk management to achieve the environment protection goals

  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. A Study on Landslide Risk Management by Applying Fault Tree Logics

    Directory of Open Access Journals (Sweden)

    Kazmi Danish

    2017-01-01

    Full Text Available Slope stability is one of the focal areas of curiosity to geotechnical designers and also appears logical for the application of probabilistic approaches since the analysis lead to a “probability of failure”. Assessment of the existing slopes in relation with risks seems to be more meaningful when concerning with landslides. Probabilistic slope stability analysis (PSSA is the best option in covering the landslides events. The intent here is to bid a probabilistic framework for quantified risk analysis with human uncertainties. In this regard, Fault Tree Analysis is utilized and for prediction of risk levels, consequences of the failures of the reference landslides have been taken. It is concluded that logics of fault trees is best fit, to clinch additional categories of uncertainty; like human, organizational, and knowledge related. In actual, the approach has been used in bringing together engineering and management performances and personnel, to produce reliability in slope engineering practices.

  15. 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.

  16. 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...

  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. PROJECT MANAGER SKILLS, RISK MANAGEMENT TOOLS

    Directory of Open Access Journals (Sweden)

    Vladut Iacob

    2013-12-01

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

  19. 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.

  20. 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

  1. Risk Management in Logystics Chains

    OpenAIRE

    Butrin, Andrey; Vikulov, Vladimir

    2013-01-01

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

  2. 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…

  3. RISKS MANAGEMENT: NEW LITERATURE REVIEW

    OpenAIRE

    Ennouri Wissem

    2013-01-01

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

  4. Integrated supply chain risk management

    OpenAIRE

    Riaan Bredell; Jackie Walters

    2007-01-01

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

  5. Economic Exposure and Integrated Risk Management

    OpenAIRE

    Miller, Kent D.

    1994-01-01

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

  6. 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.

  7. Management Ownership and Risk-Shifting Investment

    OpenAIRE

    Nobuyuki Teshima

    2012-01-01

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

  8. 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...

  9. The Uncertainties of Risk Management

    DEFF Research Database (Denmark)

    Vinnari, Eija; Skærbæk, Peter

    2014-01-01

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

  10. Continuous Risk Management at NASA

    Science.gov (United States)

    Hammer, Theodore F.; Rosenberg, Linda

    1999-01-01

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

  11. DEFENSE PROGRAMS RISK MANAGEMENT FRAMEWORK

    Directory of Open Access Journals (Sweden)

    Constantin PREDA

    2012-01-01

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

  12. European Practice Assessment of Cardiovascular risk management (EPA Cardio: protocol of an international observational study in primary care

    Directory of Open Access Journals (Sweden)

    van Lieshout Jan

    2009-01-01

    Full Text Available Abstract Background Despite important improvements in available prevention and treatment, cardiovascular diseases (CVD remain an important cause of morbidity and mortality. Not all high-risk patients and patients with CVD have healthy lifestyles and receive the best possible healthcare. Internationally comparative data are needed to compare cardiovascular risk management in different countries, and to examine the impact of improvement programs and others factors. Objectives This study aims to provide internationally comparative data on cardiovascular risk management provided in primary care and on health-related lifestyles of patients in Europe. The study will also explore the views of doctors and patients on innovative preventive services for CVDs. Design and methods An observational cross-sectional study is planned. In 10 European countries, stratified samples of 36 practices per country will be recruited. In each practice, three samples of 15 patients each will be sampled: patients with coronary heart disease, patients at high risk for CVD, and healthy adult patients. The quality of cardiovascular risk management has been specified in terms of 44 performance indicators that resulted from an international Delphi-procedure with general practitioners. Most indicators are based on medical records, and some on a structured interview with a contact person of the practice. Lifestyle (smoking, physical exercise, diet will be measured with previously validated questionnaires that are completed by patients. Additional measures include practice characteristics and exposure to programs to improve cardiovascular care.

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

    OpenAIRE

    Szabo Alina

    2012-01-01

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

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

    International Nuclear Information System (INIS)

    Collins, John

    2009-01-01

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

  15. 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.

  16. GIS and local knowledge in disaster management: a case study of flood risk mapping in Viet Nam.

    Science.gov (United States)

    Tran, Phong; Shaw, Rajib; Chantry, Guillaume; Norton, John

    2009-03-01

    Linking community knowledge with modern techniques to record and analyse risk related data is one way of engaging and mobilising community capacity. This paper discusses the use of the Geographic Information System (GIS) at the local level and the need for integrating modern technology and indigenous knowledge into disaster management. It suggests a way to mobilise available human and technical resources in order to strengthen a good partnership between local communities and local and national institutions. The paper also analyses the current vulnerability of two communes by correlating hazard risk and loss/damage caused by disasters and the contribution that domestic risk maps in the community can make to reduce this risk. The disadvantages, advantages and lessons learned from the GIS flood risk mapping project are presented through the case study of the Quang Tho Commune in Thua Thien Hue province, central Viet Nam.

  17. Selecting Copulas for Risk Management

    NARCIS (Netherlands)

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

    2006-01-01

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

  18. Corporate risk management : an overview

    NARCIS (Netherlands)

    Oosterhof, Casper M.

    2001-01-01

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

  19. The Supply Chain Risk Management

    OpenAIRE

    Skitsko Volodymyr I.; Voynikov Mykola Yu.

    2018-01-01

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

  20. Managing flood risks in the Mekong Delta

    NARCIS (Netherlands)

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

    2018-01-01

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

  1. Risk management for whales

    OpenAIRE

    Cont, R; Wagalath, L

    2016-01-01

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

  2. Business risk management

    International Nuclear Information System (INIS)

    Cosby, C.

    2015-01-01

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

  3. Business risk management

    Energy Technology Data Exchange (ETDEWEB)

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

    2015-07-01

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

  4. 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.

  5. 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.

  6. 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

  7. THE EVOLUTION OF RISK MANAGEMENT RESEARCH: CHANGES IN KNOWLEDGE MAPS

    OpenAIRE

    Iwona Gorzeń-Mitka

    2017-01-01

    One of the leading trends in modern academic research is risk management. Over the years, the approach to risk management has changed and affected many different areas. This study aims to investigate changes in risk management and trends of risk management in the past 20 years. Risk management related publications from 1990 to 2016 were retrieved from the Web of Science and Scopus databases. VOS viewer software was used to analyse the research trend. Literature growth related to risk manageme...

  8. 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.

  9. Risk management of QTc-prolongation in patients receiving haloperidol: an epidemiological study in a University hospital in Belgium.

    Science.gov (United States)

    Vandael, Eline; Vandenberk, Bert; Vandenberghe, Joris; Spriet, Isabel; Willems, Rik; Foulon, Veerle

    2016-04-01

    Many drugs, including haloperidol, are linked with a risk of QTc-prolongation, which can lead to Torsade de Pointes and sudden cardiac death. To investigate the prevalence of concomitant risk factors for QTc-prolongation in patients treated with haloperidol, and the use of safety measures to minimize this risk. University Hospitals of Leuven, Belgium. Methods A retrospective epidemiological study was performed. On 15 consecutive Mondays, all patients with a prescription for haloperidol were included. A risk score for QTc-prolongation, inspired by the pro-QTc score of Haugaa et al., was calculated based on gender, comorbidities, lab results and concomitant QTc-prolonging drugs (each factor counting for one point). Available electrocardiograms before and during the treatment of haloperidol were registered. Management of the risk of QTc-prolongation. Two hundred twenty-two patients were included (59.0 % men, median age 77 years) of whom 26.6 % had a risk score of ≥4 (known to significantly increase the mortality). Overall, 24.3 % received haloperidol in combination with other drugs with a known risk of Torsade de Pointes. Half of the patients had an electrocardiogram in the week before the start of haloperidol; only in one-third a follow-up electrocardiogram during haloperidol treatment was performed. Of the patients with a moderately (n = 41) or severely (n = 14) prolonged QTc-interval before haloperidol, 48.8 % and 42.9 % respectively had a follow-up electrocardiogram. In patients with a risk score ≥4, significantly more electrocardiograms were taken before starting haloperidol (p = 0.020). Although many patients had risk factors for QTc-prolongation (including the use of other QTc-prolonging drugs) or had a prolonged QTc on a baseline electrocardiogram, follow-up safety measures were limited. Persistent efforts should be taken to develop decision support systems to manage this risk.

  10. Integrated supply chain risk management

    Directory of Open Access Journals (Sweden)

    Riaan Bredell

    2007-11-01

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

  11. Study on Risk Management in Financing and Operational of Grameen Bank Financing Concept in MBK Finance

    Directory of Open Access Journals (Sweden)

    Bobby Yulandika Putra

    2014-03-01

    Full Text Available Objective – Poverty is one of the most fundamental issues that still surround the life of 29.89 million people of Indonesia (National Statistical Bureau data from January 2, 2012. During this time, the pattern of poverty alleviation programs undertaken by the government is a pattern of generosity. This pattern can directly exacerbate the poor morals and behavior. Ideally, poverty alleviation efforts are made by concrete steps, which empower poor `communities themselves.In line with the theme of this research, one of the financial institutions (non-Banks who cares and has the spirit to empower people to overcome poverty is Mitra Bisnis Keluarga (MBK. This study aimed to assess the financial risks and operational risks of implementation of Grameen Bank financing concept in MBK.Methods - The method used in this research is literature review and qualitative descriptive study using actual MBK data.Results - Results from this research showed that products with the concept of Grameen Bank financing is relatively safe in the terms of the financing risk, but requires more attention on operational risk and which can be implemented for large-scale poverty alleviation program.Conclusion - The data showed that the risk of financing given to the poor (without collateral is minimal and MBK actual data shows that the Operational self-sufficiency is relatively high at> 90% Keywords : MBK, Grameen Bank, Poverty

  12. Integrated Project Management: A Case Study in Integrating Cost, Schedule, Technical, and Risk Areas

    Science.gov (United States)

    Smith, Greg

    2004-01-01

    This viewgraph presentation describes a case study as a model for integrated project management. The ISS Program Office (ISSPO) developed replacement fluid filtration cartridges in house for the International Space Station (ISS). The presentation includes a step-by-step procedure and organizational charts for how the fluid filtration problem was approached.

  13. House of risk approach for assessing supply chain risk management strategies: A case study in Crumb Rubber Company Ltd

    Directory of Open Access Journals (Sweden)

    Immawan Taufiq

    2018-01-01

    Full Text Available Risk is an uncertain and can have both negative and positive impacts. If the risks have a negative impact then a company will incur losses. CRUMB RUBBER COMPANY LTD is one of crumb rubber company in West Kalimantan. The length of the supply chain contained in CRUMB RUBBER COMPANY LTD and the high dependence on suppliers leads to vulnerability. So the purpose of this research is to identify the risk and determine the priority of source of risk along with the priority of handling it on CRUMB RUBBER COMPANY LTD supply chain with House of Risk approach. House of risk approach consists of two phases. Phase 1 is used to determine the dominant risk agent and phase 2 determines the effective action to deal with the dominant risk agent. From the research results, there are 19 risk events and 29 risk agents identified. The result of house of risk in phase 1 is known that 13 of 28 risk agents are dominant risk agent. Then the priority handling strategy in house of risk in phase 2, in this phase obtained 18 priority risk handling strategies.

  14. Development of Instructional Competencies for Assessing and Managing Suicide Risk for Baccalaureate Nursing Education: A Modified Delphi Study.

    Science.gov (United States)

    Kotowski, Abigail; Roye, Carol

    2017-03-01

    Suicide is a major health problem and a leading cause of death throughout the world. A primary goal for suicide prevention is reforming health professional education in order to increase the competence of health professionals in assessing and managing suicide risk. Nursing leadership is involved in this reform, yet nurses frequently lack the competence to care for patients in suicidal crisis. An identified gap in baccalaureate nursing education is instructional competencies for assessing and managing suicide risk. A modified Delphi study was used. The study began with a focus group which was conducted in order to develop the Round I Survey which included forty-four competencies. After scoring these competencies, thirty-four were scored for inclusion, two were dropped and eight were revised according to panel members' comments. The Round II Survey comprised the eight revised competencies which were scored for inclusion, resulting in forty-two competencies in the final set of instructional competencies. Forty-two instructional competencies were developed: fourteen pre-assessment instructional competencies, fifteen assessment instructional competencies, and thirteen management instructional competencies. Incorporating these instructional competencies into baccalaureate nursing education might increase the competence of nursing students, and thus new nurses, in caring for patients at risk for suicide. These instructional competencies provide a first step to address the challenging task of intervening with patients at risk for suicide.

  15. 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, ...

  16. 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.

  17. 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.

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

    Science.gov (United States)

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

    2010-05-01

    start the identification and analysis of adaptive strategies at the end of PSIR scheme: impact and examine whether, and for how long, current risk management strategies will continue to be effective under different future conditions. The most noteworthy application of this approach is the adaptation tipping point method. Adaptation tipping points (ATP) are defined as the points where the magnitude of change is such that the current risk management strategy can no longer meet its objectives. In the ATP method, policy objectives, determining aspirational functioning, are taken as the starting point. Also, the current measures to achieve these objectives are described. This is followed by a sensitivity analysis to determine the optimal and critical boundary conditions (state). Lastly, the state is related to pressures in terms of future change. It should be noted that in the ATP method the driver for adopting a new risk management strategy is not future change as such, but rather failing to meet the policy objectives. In the current paper, the ATP method is applied to the case study of an existing stormwater system in Dordrecht (the Netherlands). This application shows the potential of the ATP method to reduce the complexity of implementing a resilience-focused approach to water risk management. It is expected that this will help foster greater practical relevance of resilience as a perspective for the planning of water management structures.

  19. Overview of Risk Management for Engineered Nanomaterials

    International Nuclear Information System (INIS)

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

    2013-01-01

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

  20. Overview of Risk Management for Engineered Nanomaterials

    Science.gov (United States)

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

    2013-04-01

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

  1. 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.

  2. Using information technology governance, risk management and compliance (GRC as a creator of business values – a case study

    Directory of Open Access Journals (Sweden)

    Sam Lubbe

    2011-08-01

    Full Text Available The relationship between Information Technology (IT Governance, Risk Management and Compliance (GRC and organisation business values continues to interest academics and practitioners (IT Governance Institute, 2003. Like governance, risk management and compliance generally, IT GRC is about the decision rights and accountabilities that encourage desirable behaviour in the use of IT (IT Governance Institute, 2003. A case study approach was used in an organisation with many business units. The organisation selected is a mining company, RioZim, situated in Zimbabwe. Data was collected from business units on IT issues and business values. The interviews centred on the IT GRC practices based on responsibility and authority for IT decision making. The results suggest that IT GRC does not adequately support business values. The study revealed that business values should drive IT GRC and IT GRC should be the responsibility of executives and all business units.

  3. 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.

  4. 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...

  5. Improving Operational Risk Management Using Business Performance Management Technologies

    OpenAIRE

    Bram Pieket Weeserik; Marco Spruit

    2018-01-01

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

  6. Scope of environmental risk management

    Energy Technology Data Exchange (ETDEWEB)

    O' Riordan, T

    1979-01-01

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

  7. 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.

  8. 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 ...

  9. 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...

  10. Introduction and overview. Perinatal carcinogenesis: growing a node for epidemiology, risk management, and animal studies

    International Nuclear Information System (INIS)

    Anderson, Lucy M.

    2004-01-01

    Perinatal carcinogenesis as a cross-disciplinary concern is the subject of this special issue of Toxicology and Applied Pharmacology, which consists of a total of eight reviews or commentaries in the areas of epidemiology, risk assessment, and animal models. Some of the conclusions from these articles, and the Questions and Answers section that follows most of them, are summarized here. There is adequate reason to suspect that perinatal exposures contribute to human cancer risk, both childhood cancers, and those appearing later in life. The latter type of risk may actually be quantitatively the more important, and involve a wide range of types of effects, but has received only limited attention. With regard to childhood cancers, fetal irradiation and diethylstilbestrol exposure are known etiological agents, and it is likely, but not yet certain, there are additional external causes of a portion of these. Some current focal points of interest here include nitroso compounds, DNA topoisomerase inhibitors, viruses, anti-AIDS drugs, and endocrine disruptors. Regulatory agencies must rely heavily on animal data for estimation of human risk due to perinatal exposures to chemicals, and the quantity and quality of these data presently available for this purpose are greatly limiting. Correctly designed conventional animal studies with suspect chemicals are still needed. Furthermore, genetically engineered mouse models for childhood cancers, especially medulloblastoma, have become available, and could be used for screening of candidate causative agents for this cancer type, and for better understanding of gene-environment interactions

  11. 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

  12. The NASA risk management program

    International Nuclear Information System (INIS)

    Buchbinder, B.; Philipson, L.L.

    1989-01-01

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

  13. 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...

  14. Multi-Centre Study on Cardiovascular Risk Management on Patients Undergoing AAA Surveillance.

    Science.gov (United States)

    Saratzis, A; Dattani, N; Brown, A; Shalhoub, J; Bosanquet, D; Sidloff, D; Stather, P

    2017-07-01

    The risk of cardiovascular events and death in patients with abdominal aortic aneurysms (AAA) is high. Screening has been introduced to reduce AAA related mortality; however, after AAA diagnosis, cardiovascular modification may be as important to patient outcomes as surveillance. The aim of this study was to assess cardiovascular risk reduction in patients with small AAA. Institutional approval was granted for The Vascular and Endovascular Research Network (VERN) to retrospectively collect data pertaining to cardiovascular risk reduction from four tertiary vascular units in England. Patients with small AAA (January 2013-December 2015) were included. Demographic details, postcode, current medications, and smoking status were recorded using a bespoke electronic database and analysed. In a secondary analysis VERN contacted all AAA screening units in England and Wales to assess their current protocols relating to CV protection. In total, 1053 patients were included (mean age 74 ± 9 years, all men). Of these, 745 patients (70.8%) had been prescribed an antiplatelet agent and 787 (74.7%) a statin. Overall, only 666 patients (63.2%) were prescribed both a statin and antiplatelet. Two hundred and sixty eight patients (32.1%) were current smokers and the proportion of patients who continued to smoke decreased with age. Overall, only 401 patients (48.1%) were prescribed a statin, antiplatelet, and had stopped smoking. In the secondary analysis 38 AAA screening units (84% national coverage) replied. Thirty-one units (82%) suggest changes to the patient's prescription; however, none monitor compliance with these recommendations or assess whether the general practitioner has been made aware of the AAA diagnosis or prescription advice. Many patients with small AAA are not prescribed an antiplatelet/statin, and still smoke cigarettes, and therefore remain at high risk of cardiovascular morbidity and mortality. National guidance to ensure this high risk group of patients is

  15. Managing risk with renewable resources

    International Nuclear Information System (INIS)

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

    1997-01-01

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

  16. Risk assessment and risk management of mycotoxins.

    Science.gov (United States)

    2012-01-01

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

  17. 76 FR 45724 - Clearing Member Risk Management

    Science.gov (United States)

    2011-08-01

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

  18. 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.

  19. Producers' Complex Risk Management Choices

    NARCIS (Netherlands)

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

    2008-01-01

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

  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. Contemporary Management and Control of Uncomplicated Hypertension in Canada: Insight From the Primary Care Audit of Global Risk Management (PARADIGM) Study.

    Science.gov (United States)

    Gupta, Milan; Szmitko, Paul; Singh, Narendra; Tsigoulis, Michelle; Kajil, Mahesh; Stone, James

    2015-05-01

    Although clinical practice guidelines for the management of hypertension exist in Canada, the rate of contemporary blood pressure (BP) control remains unclear. In the Primary Care Audit of Global Risk Management (PARADIGM) study, 3015 healthy, middle-aged Canadians, free of cardiovascular disease (CVD) or diabetes were evaluated. In this analysis, we characterized the CVD risk factors, treatment patterns, and BP control rates in subjects with uncomplicated hypertension. A total of 917 subjects (30.4%) had a diagnosis of hypertension. The median age was 59 ± 8 years. The mean treated systolic/diastolic BP were 134 ± 14 mm Hg/82 ± 9 mm Hg, respectively. CVD risk factors included past/current smoking (35.9%), abdominal obesity (62.5%), and dyslipidemia (59.4%). Using the Framingham Risk Score, 20.4%, 41.0%, and 38.5% of the subjects were at low, intermediate, and high risk, respectively. Of the 88% with treated hypertension, 46.9%, 38.7%, and 14.3% received 1, 2, or ≥3 drugs, respectively. The rate of BP control was 57.4% (systolic BP Risk Score, and was lower in patients with metabolic syndrome vs those without (P risk factors are prevalent in Canadians with uncomplicated hypertension. BP control was modest (57.4%) and was lowest in patients prescribed diuretic monotherapy and in those at highest CVD risk. Despite the success of national hypertension strategies, enhanced efforts are warranted to improve BP control in Canada. Copyright © 2015 Canadian Cardiovascular Society. Published by Elsevier Inc. All rights reserved.

  2. Multi crop model climate risk country-level management design: case study on the Tanzanian maize production system

    Science.gov (United States)

    Chavez, E.

    2015-12-01

    Future climate projections indicate that a very serious consequence of post-industrial anthropogenic global warming is the likelihood of the greater frequency and intensity of extreme hydrometeorological events such as heat waves, droughts, storms, and floods. The design of national and international policies targeted at building more resilient and environmentally sustainable food systems needs to rely on access to robust and reliable data which is largely absent. In this context, the improvement of the modelling of current and future agricultural production losses using the unifying language of risk is paramount. In this study, we use a methodology that allows the integration of the current understanding of the various interacting systems of climate, agro-environment, crops, and the economy to determine short to long-term risk estimates of crop production loss, in different environmental, climate, and adaptation scenarios. This methodology is applied to Tanzania to assess optimum risk reduction and maize production increase paths in different climate scenarios. The simulations carried out use inputs from three different crop models (DSSAT, APSIM, WRSI) run in different technological scenarios and thus allowing to estimate crop model-driven risk exposure estimation bias. The results obtained also allow distinguishing different region-specific optimum climate risk reduction policies subject to historical as well as RCP2.5 and RCP8.5 climate scenarios. The region-specific risk profiles obtained provide a simple framework to determine cost-effective risk management policies for Tanzania and allow to optimally combine investments in risk reduction and risk transfer.

  3. Information security risk management for computerized health information systems in hospitals: a case study of Iran

    OpenAIRE

    Zarei, Javad; Sadoughi, Farahnaz

    2016-01-01

    Javad Zarei,1 Farahnaz Sadoughi2 1Health Information Management, Health Management and Economics Research Center, School of Health Management and Information Science, Iran University of Medical Sciences, Tehran, Islamic Republic of Iran, 2Health Information Management Department, School of Health Management and Information Science, Iran University of Medical Sciences, Tehran, Islamic Republic of Iran Background: In recent years, hospitals in Iran – similar to those in other...

  4. Managing Supplier Sustainability Risk

    OpenAIRE

    Harilainen, Hanna-Riitta

    2014-01-01

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

  5. Energy price risk management

    International Nuclear Information System (INIS)

    Evans, J.W.G.

    1998-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Patrick Baron

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

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

    Science.gov (United States)

    Baron, Patrick; Frattaroli, Shannon

    2016-01-01

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

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

    Science.gov (United States)

    Baron, Patrick; Frattaroli, Shannon

    2016-01-01

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

  9. Decision-Making for Risk Management in Sustainable Renewable Energy Facilities: A Case Study in the Dominican Republic

    Directory of Open Access Journals (Sweden)

    Guido C. Guerrero-Liquet

    2016-05-01

    Full Text Available Today, Renewable Energy Sources (RES are a key pillar to achieving sustainable development, which is the main reason why energy projects are being carried out not only in developed countries but also in many emerging countries. Since the technical and financial risk remains a major barrier to financing renewable energy projects, several mechanisms are available to reduce risks on investment into clean energy projects. This paper discusses risk management tools in solar photovoltaic facilities based on the guide to the Project Management (PMBOK Guide. To do this, a combination of different decision-making methodologies will be carried out. These methodologies enable to not only extract the knowledge by experts but also to know the causes and effects that help to make the best decision. In order to do so, techniques to seek information (Delphi and Checklist as well as diagram techniques such as cause and effect diagrams or Strengths Weaknesses Opportunities and Threats (SWOT are applied. The categorization and prioritization of risks will be carried out through the Analytic Hierarchy Process (AHP. Finally, a sensitivity analysis will allow for providing consistency to the obtained results. A real case in the Dominican Republic will also be presented as case study.

  10. Risk management study for the retired Hanford Site facilities: Qualitative risk evaluation for the retired Hanford Site facilities

    International Nuclear Information System (INIS)

    Coles, G.A.; Shultz, M.V.; Taylor, W.E.

    1993-09-01

    This document provides a risk evaluation of the 100 and 200 Area retired, surplus facilities on the Hanford Site. Also included are the related data that were compiled by the risk evaluation team during investigations performed on the facilities. Results are the product of a major effort performed in fiscal year 1993 to produce qualitative information that characterizes certain risks associated with these facilities. The retired facilities investigated for this evaluation are located in the 100 and 200 Areas of the 1,450-km 2 (570-mi 2 ) Hanford Site. The Hanford Site is a semiarid tract of land in southeastern Washington State. The nearest population center is Richland, Washington, (population 32,000) 30-km (20 mi) southeast of the 200 Area. During walkdown investigations of these facilities, data on real and potential hazards that threatened human health or safety or created potential environmental release issues were identified by the risk evaluation team. Using these findings, the team categorized the identified hazards by facility and evaluated the risk associated with each hazard. The factors contributing to each risk, and the consequence and likelihood of harm associated with each hazard also are included in this evaluation

  11. Risk management study for the retired Hanford Site facilities: Qualitative risk evaluation for the retired Hanford Site facilities. Volume 3

    Energy Technology Data Exchange (ETDEWEB)

    Coles, G.A.; Shultz, M.V.; Taylor, W.E.

    1993-09-01

    This document provides a risk evaluation of the 100 and 200 Area retired, surplus facilities on the Hanford Site. Also included are the related data that were compiled by the risk evaluation team during investigations performed on the facilities. Results are the product of a major effort performed in fiscal year 1993 to produce qualitative information that characterizes certain risks associated with these facilities. The retired facilities investigated for this evaluation are located in the 100 and 200 Areas of the 1,450-km{sup 2} (570-mi{sup 2}) Hanford Site. The Hanford Site is a semiarid tract of land in southeastern Washington State. The nearest population center is Richland, Washington, (population 32,000) 30-km (20 mi) southeast of the 200 Area. During walkdown investigations of these facilities, data on real and potential hazards that threatened human health or safety or created potential environmental release issues were identified by the risk evaluation team. Using these findings, the team categorized the identified hazards by facility and evaluated the risk associated with each hazard. The factors contributing to each risk, and the consequence and likelihood of harm associated with each hazard also are included in this evaluation.

  12. Safety and human factors impacts of introducing quality management into high-risk industries: A field study

    International Nuclear Information System (INIS)

    Chollet, M.G.; Normier, C.; Girault, M.; Tasset, D.

    2002-01-01

    The Institute for Radiological Protection and Nuclear Safety has undertaken a study for getting a better understanding, especially in terms of Safety and Human Factors, of the changes caused by the progressive deployment of the Quality Management in French high risk industries. This study is based on both theoretical elements from the human sciences and management and practical elements from the field, collected from interviews in large French industrial sites involved in integrating this management method. The results show frequent discrepancies between theory, which is very positive and production-oriented, and reality, which is more complex and subtle, ever looking for trade-offs between production requirements and safety constraints. Thus, each step forward announced in the literature may be matched by possible steps backward in terms of safety on the ground. Where, in theory, processes enable practices to be mastered, in practice they can reduce autonomy and fossilize know-how. Where theoretically continuous improvement stimulates and strengthens performances, in reality it can also generate stress and deadlock. Where theoretically personal commitment and collective responsibility work towards all-out performance, in reality they can also operate to conceal safety deviations and infringements. The assessment of Quality Management processes in the nuclear field will benefit from these results raised from theoretical review and confirmed by similar management changes. (author)

  13. Do weight management programmes delivered at professional football clubs attract and engage high risk men? A mixed-methods study.

    Science.gov (United States)

    Hunt, Kate; Gray, Cindy M; Maclean, Alice; Smillie, Susan; Bunn, Christopher; Wyke, Sally

    2014-01-21

    The prevalence of obesity in men in the UK is amongst the highest in Europe but men are less likely than women to use existing weight loss programmes. Developing weight management programmes which are appealing and acceptable to men is a public health priority. Football Fans in Training (FFIT), a men-only weight management programme delivered to groups of men at top professional football clubs, encourages men to lose weight by working with, not against, cultural ideals of masculinity. To inform further development of interventions in football club settings, the current study explored who is attracted to FFIT and why overweight/obese men choose to take part. A mixed-methods study analysing baseline data on 747 men aged 35-65 years with BMI ≥ 28 kg/m2 who were participants in a randomised controlled trial of FFIT, and data from 13 focus group discussions with 63 men who had attended the programme. Objectively-measured mean body mass index was 35.3 kg/m2 (sd 4.9). Overall over 90% of participants were at very high or extremely high risk of future ill-health. Around three-quarters of participants in all age groups were at 'very high' risk of type 2 diabetes, hypertension and cardiovascular disease (72%, 73% and 80% of men aged 35-44, 45-54 and 55-64 years respectively). A further 21%, 16% and 13% were at 'extremely high' risk. Qualitative data revealed that the powerful 'draw' of the football club attracted men otherwise reluctant to attend existing weight management programmes. The location and style of delivery of early FFIT sessions fostered team spirit; men appreciated being with others 'like them' and the opportunity to undertake weight management in circumstances that enhanced physical and symbolic proximity to something they valued highly, the football club. The delivery of a weight management intervention via professional football clubs attracted men at high risk of ill-health. The setting enabled men to join a weight management programme in

  14. Risk preferences, probability weighting, and strategy tradeoffs in wildfire management

    Science.gov (United States)

    Michael S. Hand; Matthew J. Wibbenmeyer; Dave Calkin; Matthew P. Thompson

    2015-01-01

    Wildfires present a complex applied risk management environment, but relatively little attention has been paid to behavioral and cognitive responses to risk among public agency wildfire managers. This study investigates responses to risk, including probability weighting and risk aversion, in a wildfire management context using a survey-based experiment administered to...

  15. Risk Management in the Exchange Fund Account

    OpenAIRE

    Michel Rochette

    2002-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Porananond, D.

    2014-07-01

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

  17. Rationale and methods of the European Study on Cardiovascular Risk Prevention and Management in Daily Practice (EURIKA

    Directory of Open Access Journals (Sweden)

    Jiménez Francisco

    2010-06-01

    Full Text Available Abstract Background The EURIKA study aims to assess the status of primary prevention of cardiovascular disease (CVD across Europe. Specifically, it will determine the degree of control of cardiovascular risk factors in current clinical practice in relation to the European guidelines on cardiovascular prevention. It will also assess physicians' knowledge and attitudes about CVD prevention as well as the barriers impeding effective risk factor management in clinical practice. Methods/Design Cross-sectional study conducted simultaneously in 12 countries across Europe. The study has two components: firstly at the physician level, assessing eight hundred and nine primary care and specialist physicians with a daily practice in CVD prevention. A physician specific questionnaire captures information regarding physician demographics, practice settings, cardiovascular prevention beliefs and management. Secondly at the patient level, including 7641 patients aged 50 years or older, free of clinical CVD and with at least one classical risk factor, enrolled by the participating physicians. A patient-specific questionnaire captures information from clinical records and patient interview regarding sociodemographic data, CVD risk factors, and current medications. Finally, each patient provides a fasting blood sample, which is sent to a central laboratory for measuring serum lipids, apolipoproteins, hemoglobin-A1c, and inflammatory biomarkers. Discussion Primary prevention of CVD is an extremely important clinical issue, with preventable circulatory diseases remaining the leading cause of major disease burden. The EURIKA study will provide key information to assess effectiveness of and attitudes toward primary prevention of CVD in Europe. A transnational study creates opportunities for benchmarking good clinical practice across countries and improving outcomes. (ClinicalTrials.gov number, NCT00882336.

  18. Managing nuclear supplier risks

    International Nuclear Information System (INIS)

    Ramberg, B.

    1990-01-01

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

  19. Risk management through concurrency

    International Nuclear Information System (INIS)

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

    1991-01-01

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

  20. Delegated Portfolio Management and Risk Taking Behavior

    OpenAIRE

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

    2009-01-01

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

  1. 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

  2. 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

  3. Branding and the Risk Management Imperative

    Directory of Open Access Journals (Sweden)

    Fournier Susan

    2018-05-01

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

  4. Branding and the Risk Management Imperative

    OpenAIRE

    Fournier Susan; Srinivasan Shuba

    2018-01-01

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

  5. Supply Chain Risk Management

    OpenAIRE

    Babková, Ivana

    2008-01-01

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

  6. Does a reactor need a safety backfit. Case study on communicating decision and risk analysis information to managers

    Energy Technology Data Exchange (ETDEWEB)

    Brown, R.V.; Ulvila, J.W.

    1988-06-01

    An approach to communicating decision and risk analysis findings to managers is illustrated in a real case context. This article consists essentially of a report prepared for senior managers of the Nuclear Regulatory Commission to help them make a reactor safety decision. It illustrates the communication of decision analysis findings relating to technical risks, costs, and benefits in support of a major risk management decision: whether or not to require a safety backfit. Its focus is on the needs of decision makers, and it introduces some novel communication devices.

  7. The connection between long-term and short-term risk management strategies: examples from land-use planning and emergency management in four European case studies

    Science.gov (United States)

    Prenger-Berninghoff, K.; Cortes, V. J.; Sprague, T.; Aye, Z. C.; Greiving, S.; Głowacki, W.; Sterlacchini, S.

    2014-04-01

    The need for continuous adaptation to complex and unforeseen events requires enhancing the links between planning and preparedness phases to reduce future risks in the most efficient way. In this context, the legal-administrative and cultural context has to be taken into account. This is why four case study areas of the CHANGES1 project (Nehoiu Valley in Romania, Ubaye Valley in France, Val Canale in Italy, and Wieprzówka catchment in Poland) serve as examples to highlight currently implemented risk management strategies for land-use planning and emergency preparedness. The strategies described in this paper were identified by means of exploratory and informal interviews in each study site. Results reveal that a dearth or, in very few cases, a weak link exists between spatial planners and emergency managers. Management strategies could benefit from formally intensifying coordination and cooperation between emergency services and spatial planning authorities. Moreover, limited financial funds urge for a more efficient use of resources and better coordination towards long-term activities. The research indicates potential benefits to establishing or, in some cases, strengthening this link and provides suggestions for further development in the form of information and decision support systems as a key connection point. Aside from the existent information systems for emergency management, it was found that a common platform, which integrates involvement of these and other relevant actors could enhance this connection and address expressed stakeholder needs. 1 Marie Curie ITN CHANGES - Changing Hydro-meteorological Risks as Analyzed by a New Generation of European Scientists.

  8. A preliminary study on financial risk management of the uranium enrichment company, given China's fast development of nuclear power industry

    International Nuclear Information System (INIS)

    Sun Wumei

    2010-01-01

    In market economy, control and prevention of financial risk is a factual and urgent issue of financial management. As an independent legal identity, the enterprise strives to achieve business operations and developments while bearing risks. In an era of fast growth of China's nuclear power industry, uncertainties facing uranium enrichment companies are inevitable. Without being aware of financial risks, the enterprise could be driven to hopeless situation when catastrophe comes. Recognizing financial risk factors, knowing the cause and effect of risk events, building a mechanism to prevent and control financial risks, are the right approaches for building a robust enterprise. (author)

  9. THRMS: A pilot risk management system

    International Nuclear Information System (INIS)

    Xue, D.; Xu, Y.

    2000-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Viktoriia Kovalenko

    2016-03-01

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

  11. Ethical Aspects of Radiation Risk Management

    OpenAIRE

    Wikman-Svahn, Per

    2012-01-01

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

  12. Risk management and oil trading contracts

    International Nuclear Information System (INIS)

    Sas, B.

    1992-01-01

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

  13. 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...

  14. A view on risk management

    International Nuclear Information System (INIS)

    Joksimovich, V.

    1991-01-01

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

  15. Developing Risk Management as a Competitive Capability

    OpenAIRE

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

    2013-01-01

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

  16. Study and Application of Grey Entropy Weight Decision Making in Risk Management

    Directory of Open Access Journals (Sweden)

    DeYu Kong

    2009-03-01

    Full Text Available In traditional risk evaluation, the weight of a risk index is given in advance, so it lacks objectivity. Using weights and properties generated by entropy concepts, including the idea of information entropy, the comprehensive weight, which can be combined with entropy weight, is calculated. A grey evaluation model of a project risk evaluation index based on comprehensive entropy weight is built. Further, we present empirical research on a real project, which indicates that this approach calculates easily, gives weight scientifically, and provides evaluation accurately.

  17. Safety Priorities and Underestimations in Recreational Scuba Diving Operations: A European Study Supporting the Implementation of New Risk Management Programmes

    Directory of Open Access Journals (Sweden)

    Serena Lucrezi

    2018-03-01

    Full Text Available Introduction: Scuba diving is an important marine tourism sector, but requires proper safety standards to reduce the risks and increase accessibility to its market. To achieve safety goals, safety awareness and positive safety attitudes in recreational scuba diving operations are essential. However, there is no published research exclusively focusing on scuba divers’ and dive centres’ perceptions toward safety. This study assessed safety perceptions in recreational scuba diving operations, with the aim to inform and enhance safety and risk management programmes within the scuba diving tourism industry.Materials and Methods: Two structured questionnaire surveys were prepared by the organisation Divers Alert Network and administered online to scuba diving operators in Italy and scuba divers in Europe, using a mixture of convenience and snowball sampling. Questions in the survey included experience and safety offered at the dive centre; the buddy system; equipment and accessories for safe diving activities; safety issues in the certification of new scuba divers; incidents/accidents; and attitudes toward safety.Results: 91 scuba diving centres and 3,766 scuba divers participated in the study. Scuba divers gave importance to safety and the responsiveness of service providers, here represented by the dive centres. However, they underestimated the importance of a personal emergency action/assistance plan and, partly, of the buddy system alongside other safety procedures. Scuba divers agreed that some risks, such as those associated with running out of gas, deserve attention. Dive centres gave importance to aspects such as training and emergency action/assistance plans. However, they were limitedly involved in safety campaigning. Dive centres’ perceptions of safety in part aligned with those of scuba divers, with some exceptions.Conclusion: Greater responsibility is required in raising awareness and educating scuba divers, through participation in

  18. Safety Priorities and Underestimations in Recreational Scuba Diving Operations: A European Study Supporting the Implementation of New Risk Management Programmes

    Science.gov (United States)

    Lucrezi, Serena; Egi, Salih Murat; Pieri, Massimo; Burman, Francois; Ozyigit, Tamer; Cialoni, Danilo; Thomas, Guy; Marroni, Alessandro; Saayman, Melville

    2018-01-01

    Introduction: Scuba diving is an important marine tourism sector, but requires proper safety standards to reduce the risks and increase accessibility to its market. To achieve safety goals, safety awareness and positive safety attitudes in recreational scuba diving operations are essential. However, there is no published research exclusively focusing on scuba divers’ and dive centres’ perceptions toward safety. This study assessed safety perceptions in recreational scuba diving operations, with the aim to inform and enhance safety and risk management programmes within the scuba diving tourism industry. Materials and Methods: Two structured questionnaire surveys were prepared by the organisation Divers Alert Network and administered online to scuba diving operators in Italy and scuba divers in Europe, using a mixture of convenience and snowball sampling. Questions in the survey included experience and safety offered at the dive centre; the buddy system; equipment and accessories for safe diving activities; safety issues in the certification of new scuba divers; incidents/accidents; and attitudes toward safety. Results: 91 scuba diving centres and 3,766 scuba divers participated in the study. Scuba divers gave importance to safety and the responsiveness of service providers, here represented by the dive centres. However, they underestimated the importance of a personal emergency action/assistance plan and, partly, of the buddy system alongside other safety procedures. Scuba divers agreed that some risks, such as those associated with running out of gas, deserve attention. Dive centres gave importance to aspects such as training and emergency action/assistance plans. However, they were limitedly involved in safety campaigning. Dive centres’ perceptions of safety in part aligned with those of scuba divers, with some exceptions. Conclusion: Greater responsibility is required in raising awareness and educating scuba divers, through participation in prevention

  19. Safety Priorities and Underestimations in Recreational Scuba Diving Operations: A European Study Supporting the Implementation of New Risk Management Programmes.

    Science.gov (United States)

    Lucrezi, Serena; Egi, Salih Murat; Pieri, Massimo; Burman, Francois; Ozyigit, Tamer; Cialoni, Danilo; Thomas, Guy; Marroni, Alessandro; Saayman, Melville

    2018-01-01

    Introduction: Scuba diving is an important marine tourism sector, but requires proper safety standards to reduce the risks and increase accessibility to its market. To achieve safety goals, safety awareness and positive safety attitudes in recreational scuba diving operations are essential. However, there is no published research exclusively focusing on scuba divers' and dive centres' perceptions toward safety. This study assessed safety perceptions in recreational scuba diving operations, with the aim to inform and enhance safety and risk management programmes within the scuba diving tourism industry. Materials and Methods: Two structured questionnaire surveys were prepared by the organisation Divers Alert Network and administered online to scuba diving operators in Italy and scuba divers in Europe, using a mixture of convenience and snowball sampling. Questions in the survey included experience and safety offered at the dive centre; the buddy system; equipment and accessories for safe diving activities; safety issues in the certification of new scuba divers; incidents/accidents; and attitudes toward safety. Results: 91 scuba diving centres and 3,766 scuba divers participated in the study. Scuba divers gave importance to safety and the responsiveness of service providers, here represented by the dive centres. However, they underestimated the importance of a personal emergency action/assistance plan and, partly, of the buddy system alongside other safety procedures. Scuba divers agreed that some risks, such as those associated with running out of gas, deserve attention. Dive centres gave importance to aspects such as training and emergency action/assistance plans. However, they were limitedly involved in safety campaigning. Dive centres' perceptions of safety in part aligned with those of scuba divers, with some exceptions. Conclusion: Greater responsibility is required in raising awareness and educating scuba divers, through participation in prevention campaigns

  20. Risk management at GPU Nuclear

    International Nuclear Information System (INIS)

    Long, R.L.

    1991-01-01

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

  1. RISK MANAGEMENT USING PROJECT RECON

    Science.gov (United States)

    2016-11-28

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

  2. Improving Flood Risk Management for California's Central Valley: How the State Developed a Toolbox for Large, System-wide Studies

    Science.gov (United States)

    Pingel, N.; Liang, Y.; Bindra, A.

    2016-12-01

    More than 1 million Californians live and work in the floodplains of the Sacramento-San Joaquin Valley where flood risks are among the highest in the nation. In response to this threat to people, property and the environment, the Department of Water Resources (DWR) has been called to action to improve flood risk management. This has transpired through significant advances in development of flood information and tools, analysis, and planning. Senate Bill 5 directed DWR to prepare the Central Valley Flood Protection Plan (CVFPP) and update it every 5 years. A key component of this aggressive planning approach is answering the question: What is the current flood risk, and how would proposed improvements change flood risk throughout the system? Answering this question is a substantial challenge due to the size and complexity of the watershed and flood control system. The watershed is roughly 42,000 sq mi, and flows are controlled by numerous reservoirs, bypasses, and levees. To overcome this challenge, the State invested in development of a comprehensive analysis "tool box" through various DWR programs. Development of the tool box included: collection of hydro-meteorological, topographic, geotechnical, and economic data; development of rainfall-runoff, reservoir operation, hydraulic routing, and flood risk analysis models; and development of specialized applications and computing schemes to accelerate the analysis. With this toolbox, DWR is analyzing flood hazard, flood control system performance, exposure and vulnerability of people and property to flooding, consequence of flooding for specific events, and finally flood risk for a range of CVFPP alternatives. Based on the results, DWR will put forward a State Recommended Plan in the 2017 CVFPP. Further, the value of the analysis tool box extends beyond the CVFPP. It will serve as a foundation for other flood studies for years to come and has already been successfully applied for inundation mapping to support emergency

  3. A service development study of the assessment and management of fracture risk in Parkinson's disease.

    Science.gov (United States)

    Shribman, Samuel; Torsney, Kelli M; Noyce, Alastair J; Giovannoni, Gavin; Fearnley, Julian; Dobson, Ruth

    2014-06-01

    Parkinson's disease (PD) is associated with an increased risk of fragility fracture. FRAX and Qfracture are risk calculators that estimate the 10-year risk of hip and major fractures and guide definitive investigation for osteoporosis using dual X-ray absorptiometry (DEXA) imaging. It is unclear which PD patients should be considered for fracture risk assessment and whether FRAX or Qfracture should be used. Seventy-seven patients with PD were recruited in the movement disorders clinic. Data were collected on PD-related characteristics and fracture risk scores were calculated. Patients with previous osteoporotic fractures had a higher incidence of falls (p = 0.0026) and use of bilateral walking aids (p = 0.0187) in addition to longer disease duration (p = 0.0037). Selecting patients with falls in combination with either disease duration >5 years, bilateral walking aids, or previous osteoporotic fracture distinguished patients with and without previous osteoporotic fracture with specificity 67.7 % (95 % CI 55.0-78.8) and sensitivity 100.0 % (95 % CI 73.5-100.0). Qfracture calculated significantly higher fracture risk scores than FRAX for hip (p < 0.0001) and major (p = 0.0008) fracture in PD patients. Receiver operating characteristic curves demonstrated that FRAX outperformed Qfracture with an area under the curve of 0.84 (95 % CI 0.70-0.97, p = 0.0004) for FRAX and 0.68 (95 % CI 52-86, p = 0.0476) for Qfracture major fracture risk calculators. We suggest that falls in combination with either a disease duration longer than 5 years or bilateral walking aids or previous osteoporotic fracture should be used as red flags in PD patients to prompt clinicians to perform a FRAX fracture risk assessment in the neurology clinic.

  4. CEA: assessment of risk management 2011

    International Nuclear Information System (INIS)

    2012-06-01

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

  5. Risk factor management: antiatherogenic therapies.

    Science.gov (United States)

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

    2009-08-01

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

  6. Tank waste remediation system risk management plan

    International Nuclear Information System (INIS)

    Zimmerman, B.D.

    1998-01-01

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

  7. Reducing the risk, managing safety.

    Science.gov (United States)

    Aldridge, Peter

    2016-02-01

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

  8. A SURVEY OF INTERNATIONAL FINANCIAL RISK MANAGEMENT SYSTEM

    Directory of Open Access Journals (Sweden)

    SETHI Narayan

    2013-12-01

    Full Text Available Rising global competition, increasing deregulation, and introduction of innovative products have pushed financial risk management to the forefront of today's financial landscape. Identification of different types of risks and effective management of these risks in the international financial system would help to alleviate crisis, financial losses and also helpful to the long term success of all the financial institutions. The present study aims to analyze different types of risk management strategies and throws some light on challenges and opportunities regarding implementation of Basel-II in international financial system. The present paper also attempts to discuss the different methods and techniques used to measure financial risk management. There are three types of risk faced by all financial institutions: market risk, credit risk and operational risk. In commercial banking, credit risk is the biggest risk; in investment banking, its market risk; and in asset management, it’s operational risk.

  9. Risk management as a social defence against anxiety

    Directory of Open Access Journals (Sweden)

    Dirk J. Geldenhuys

    2012-03-01

    Research purpose: The aim of the study is to describe how risk management unconsciously influences behaviour when doing business in an African country. Motivation for the study: Operational risk management is a rational management imperative. However, this does not take cognisance of the unconscious role of risk management. A systems-psychodynamic perspective might be particularly relevant if the anxiety implied in risk management is not appropriately contained. Awareness of these dynamics may provide an opportunity for addressing them and allow for a more holistic way of managing risk. Research design, approach and method: The researchers conducted the study as a qualitative case study in an African country. They used purposive sampling and analysed the data using qualitative content analysis. Main findings: Viewing risk management from a systems-psychodynamic perspective allowed the researchers to identify the influence of risk management on the behaviour of people. The emerging hypothesis was that, if businesses do not address the anxiety underlying risk management, managing risk becomes a social defence against the anxiety. Practical/managerial implications: Awareness of the anxiety involved in risk management may assist businesses to manage risk in a more realistic way, making provision for, and even capitalising on, the human element. Contributions/value-add: The article provides a systems-psychodynamic, and hence a more complete, perspective of operational risk management when doing business in an African country.

  10. Overview of the Hanford risk management plan

    International Nuclear Information System (INIS)

    Halverson, T.G.

    1998-01-01

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

  11. 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.

  12. Integrasi Frame Work Risk and Insurance Management Society (RIMS) dalam Analisis Kematangan Implementasi Manajemen Risiko (Studi Kasus: PLTA Maninjau)

    OpenAIRE

    Taufik Taufik; Ahmad Fauzan

    2016-01-01

    Indonesia electrical energy consumption growth that reached 9.2% per year requires every plant to always pursue consistent and sustainable improvement to be able to cope with the growth. Maninjau Hydropower is one of the assets of strategic energy resources to meet the electrical energy supply, especially for the southern Sumatera region. Risk management in Maninjau hydropower take place without any standard of measurement standards, so management and risk management actors do not have an ove...

  13. Improving the active involvement of stakeholders and the public in flood risk management – tools of an involvement strategy and case study results from Austria, Germany and Italy

    Directory of Open Access Journals (Sweden)

    V. Vitale

    2012-09-01

    Full Text Available The EU Flood Risk Management Directive 2007/60/EC aims at an active involvement of interested parties in the setting up of flood risk management plans and thus calls for more governance-related decision-making. This requirement has two perspectives. On the one hand, there is (1 the question of how decision-makers can improve the quality of their governance process. On the other hand, there is (2 the question of how the public shall be appropriately informed and involved. These questions were the centre of the ERA-Net CRUE-funded project IMRA (integrative flood risk governance approach for improvement of risk awareness that aimed at an optimisation of the flood risk management process by increasing procedural efficiency with an explicit involvement strategy. To reach this goal, the IMRA project partners developed two new approaches that were implemented in three case study areas for the first time in flood risk management: 1. risk governance assessment tool: An indicator-based benchmarking and monitoring tool was used to evaluate the performance of a flood risk management system in regard to ideal risk governance principles; 2. social milieu approach: The concept of social milieus was used to gain a picture of the people living in the case study regions to learn more about their lifestyles, attitudes and values and to use this knowledge to plan custom-made information and participation activities for the broad public. This paper presents basic elements and the application of two innovative approaches as a part of an "involvement strategy" that aims at the active involvement of all interested parties (stakeholders for assessing, reviewing and updating flood risk management plans, as formulated in the EU Flood Risk Management Directive 2007/60/EC.

  14. 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”.

  15. Tank waste remediation system risk management list

    International Nuclear Information System (INIS)

    Collard, L.B.

    1995-01-01

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

  16. Risk Management for Food Allergy

    DEFF Research Database (Denmark)

    Risk Management for Food Allergy is developed by a team of scientists and industry professionals who understand the importance of allergen risk assessment and presents practical, real-world guidance for food manufacturers. With more than 12 million Americans suffering from food allergies and little...... appropriate "safe" thresholds of ingredients, the food industry must take increasingly proactive steps to avoid direct or cross-contamination as well as ensuring that their products are appropriately labeled and identified for those at risk. This book covers a range of critical topics in this area, including...... indication of what is causing that number to continue to grow, food producers, packagers and distributors need to appropriately process, label and deliver their products to ensure the safety of customers with allergic conditions. By identifying risk factors during processing as well as determining...

  17. Ciguatera risk management in French Polynesia: the case study of Raivavae Island (Australes Archipelago).

    Science.gov (United States)

    Chinain, Mireille; Darius, H Taiana; Ung, André; Fouc, Mote Tchou; Revel, Taina; Cruchet, Philippe; Pauillac, Serge; Laurent, Dominique

    2010-10-01

    Based on epidemiological data available through long-term monitoring surveys conducted by both the Public Health Directorate and the Louis Malardé Institute, ciguatera is highly endemic in French Polynesia, most notably in Raivavae (Australes) which appears as a hot spot of ciguatera with an average incidence rate of 140 cases/10,000 population for the period 2007-2008. In order to document the ciguatera risk associated with Raivavae lagoon, algal and toxin-based field monitoring programs were conducted in this island from April 2007 to May 2008. Practically, the distribution, abundance and toxicity of Gambierdiscus populations, along with the toxicity levels in 160 fish distributed within 25 distinct species, were assessed in various sampling locations. Herbivores such as Scarids (parrotfish) and Acanthurids (unicornfish) were rated as high-risk species based on receptor-binding assay toxicity data. A map of the risk stratification within the Raivavae lagoon was also produced, which indicates that locations where both natural and man-made disturbances have occurred remained the most susceptible to CFP incidents. Our findings also suggest that, locally, the traditional knowledge about ciguatera may not be scientifically complete but is functionally correct. Community education resulted in self-regulating behaviour towards avoidance of high-risk fish species and fishing locations. Copyright 2009 Elsevier Ltd. All rights reserved.

  18. 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...

  19. Risk management in a university environment.

    Science.gov (United States)

    Brewer, Ann; Walker, Ian

    2011-06-01

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

  20. Probabilistic risk assessment as an aid to risk management

    International Nuclear Information System (INIS)

    Garrick, B.J.

    1982-01-01

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

  1. Gout and rheumatoid arthritis, both to keep in mind in cardiovascular risk management: A primary care retrospective cohort study.

    Science.gov (United States)

    Janssens, Hein J E M; Arts, Paul G J; Schalk, Bianca W M; Biermans, Marion C J

    2017-01-01

    To assess in one time window cardiovascular risks for both patients with gout and patients with rheumatoid arthritis in a Dutch primary care population. Retrospective matched cohort study with data from the electronic health records of 51 Dutch general practices. Participants were patients aged 30 years or older with an incident diagnosis of gout (n=2655) or rheumatoid arthritis (n=513), and matched non-disease controls (n=7891 and n=1850 respectively). At disease incidence date, patients and controls were compared for prevalence of hypertension, diabetes mellitus, hypercholesterolemia, and prior cardiovascular diseases. Patients without prior cardiovascular disease were followed for a first cardiovascular disease, and compared to controls using Kaplan-Meier survival curves and Cox proportional hazard analyses. Compared to controls, gout patients suffered more from hypertension (44.8%), diabetes (20.1%), hypercholesterolemia (13.7%), and prior cardiovascular disease (30%) (P0.05). After adjustment, both gout and rheumatoid arthritis patients without prior cardiovascular disease were more likely to get a cardiovascular disease: hazard ratio (95% confidence interval) 1.44 (1.18 to 1.76), and 2.06 (1.34 to 3.16) respectively. This primary care study indicates that gout and rheumatoid arthritis are both independent risk factors for cardiovascular diseases, rheumatoid arthritis to some greater extent, whereas gout patients at first diagnosis had already an increased cardiovascular risk profile. It gives strong arguments for implementation of both rheumatic diseases in primary care guidelines on cardiovascular risk management. Copyright © 2016 Société française de rhumatologie. Published by Elsevier SAS. All rights reserved.

  2. 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.

  3. Hanford Tanks Initiative risk management guide

    International Nuclear Information System (INIS)

    Schaus, P.S.

    1997-01-01

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

  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. Risk management in microfinance institutions

    OpenAIRE

    Batin, Artyom

    2014-01-01

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

  6. Risk management and corporate governance performance ...

    African Journals Online (AJOL)

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

  7. The Role of risk perception for risk management

    International Nuclear Information System (INIS)

    Renn, Ortwin

    1999-01-01

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

  8. Risk management in nuclear power social aspects

    International Nuclear Information System (INIS)

    Sappa, N.N.

    1996-01-01

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

  9. Strategic raw materials. Risk management

    International Nuclear Information System (INIS)

    Bertau, Martin; Matschullat, Joerg; Kausch, Peter

    2014-01-01

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

  10. Turkish assessment of SURF (SUrvey of Risk Factor Management) study: Control rates of cardiovascular risk factors derived from databases of 15 different levels of health centers in Turkey.

    Science.gov (United States)

    Tokgözoğlu, Lale; Oğuz, Aytekin; Balcı, Mustafa Kemal; Temizhan, Ahmet; Güldal Altunoğlu, Esma; Bektaş, Osman; Aslan, Güler; Iyigün, Özgün; Kara, Ahmet; Tanrıverdi Pınar, Handan; Yavuz, Saffet; Tekin, Murat; Ercan, Saffet; Çelik, Selda; Sezgin Meriçliler, Özlem; Bozkurt Çakır, İrem

    2017-07-01

    The aim of this study was to evaluate the adherence to recommendations for secondary prevention and the achievement of treatment targets for the control of risk factors in patients with established coronary heart disease (CHD) who were followed-up at various healthcare facilities in Turkey. According to the protocol of the international Survey of Risk Factor Management study, questionnaire forms were completed and demographic, anthropometric, and laboratory data of CHD patients who were followed-up at a total of 15 selected primary, secondary, and tertiary healthcare centers were recorded. Among a total of 724 CHD patients (69.8% male; mean age: 63.3±10.7 years) included in the study, 18.4% were current smokers, only 19.1% had normal body mass index, and 22.1% had waist circumference below the limit of abdominal obesity. Physical activity was insufficient in 53% of the patients, 47.3% had low high-density lipoprotein cholesterol value, 46% had triglyceride level above 150 mg/dL, and 67% had glycated hemoglobin value of 6.5% or above. Of all the patients, 88.1% were using antiplatelet drugs, 71.4% were using beta-blockers, 55.7% were using statins, and 41.9% were using angiotensin-converting enzyme inhibitors/angiotensin receptor blockers. Blood pressure was under control in 56.7% of the hypertensive patients using antihypertensive drugs, and the proportion of diabetic patients who reached glycemic control targets using antidiabetic drugs was 35.9%. Low-density lipoprotein cholesterol was below 70 mg/dL in 12.2% of the patients using statins. According to the data obtained, among Turkish CHD patients, the control rate of cardiovascular risk factors is low, and implementation of the recommendations regarding lifestyle modification and medication use for secondary prevention in the current guidelines are insufficient.

  11. Perceptions of Heat Risk to Health: A Qualitative Study of Professional Bus Drivers and Their Managers in Jinan, China

    Directory of Open Access Journals (Sweden)

    Lin Zhou

    2014-01-01

    Full Text Available Summer extreme heat threatens the health of individuals, especially persons who are involved in outdoor activities. Ensuring the normal function of a city, bus drivers are among those who participate in outdoor physical activities and are exposed to excessive heat in hot summer weather. This qualitative study was performed to explore professional bus drivers’ in-depth views of extreme heat risks to their health, and ultimately develop targeted advice and policy interventions for city bus drivers. An interview-based study was performed among professional bus drivers in Jinan, China, including four focus groups with professional bus drivers (n = 37 and three interviews with their managers (n = 14. Five central themes or categories from the bus driver interviews were found: concerns about summer heat; health effects related to extreme heat; adaptive measures; barriers in implementing these adaptive measures; and suggested interventions. The beneficial role of cooling facilities (particularly air-conditioning during extreme heat are addressed. The barriers not only impede the implementation of behavioral adaptive measures but also enhance the negative attitudes of bus drivers towards their effectiveness. The responsibilities of managers in promoting preventive actions are addressed.

  12. 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.

  13. 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...

  14. The Impact of Total Risk Management on Company's Performance

    OpenAIRE

    Mohammed, Hamdu Kedir; Knapkova, Adriana

    2016-01-01

    Traditionally risk management used to be considered as a means to alleviate perhaps eliminate negative outcomes of exposures. However, the result of this and other empirical studies shows the ability of risk management to go beyond this and respond to market factors which are out of management control in order to control volatilities in earning which ultimately improve corporate performance. The empirical study investigates the relationship between total risk management and company's performa...

  15. Risk management in product innovation projects

    NARCIS (Netherlands)

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

    1993-01-01

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

  16. 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...

  17. 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...

  18. International comparative analyses of healthcare risk management.

    Science.gov (United States)

    Sun, Niuyun; Wang, Li; Zhou, Jun; Yuan, Qiang; Zhang, Zongjiu; Li, Youping; Liang, Minghui; Cheng, Lan; Gao, Guangming; Cui, Xiaohui

    2011-02-01

    Interpretation of the growing body of global literature on health care risk is compromised by a lack of common understanding and language. This series of articles aims to comprehensively compare laws and regulations, institutional management, and administration of incidence reporting systems on medical risk management in the United Kingdom, the United States, Canada, Australia, and Taiwan, so as to provide evidence and recommendations for health care risk management policy in China. We searched the official websites of the healthcare risk management agencies of the four countries and one district for laws, regulatory documents, research reports, reviews and evaluation forms concerned with healthcare risk management and assessment. Descriptive comparative analysis was performed on relevant documents. A total of 146 documents were included in this study, including 2 laws (1.4%), 17 policy documents (11.6%), 41 guidance documents (28.1%), 37 reviews (25.3%), and 49 documents giving general information (33.6%). The United States government implemented one law and one rule of patient safety management, while the United Kingdom and Australia each issued professional guidances on patient safety improvement. The four countries implemented patient safety management policy on four different levels: national, state/province, hospital, and non-governmental organization. The four countries and one district adopted four levels of patient safety management, and the administration modes can be divided into an "NGO-led mode" represented by the United States and Canada and a "government-led mode" represented by the United Kingdom, Australia, and Taiwan. © 2011 Blackwell Publishing Asia Pty Ltd and Chinese Cochrane Center, West China Hospital of Sichuan University.

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

    Directory of Open Access Journals (Sweden)

    CAMELIA I. LUNGU

    2011-04-01

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

  20. THEORETICAL BASIS FOR MANAGEMENT OF PERSONNEL RISKS

    OpenAIRE

    Haliashova, Katsiaryna

    2017-01-01

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

  1. 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...

  2. CONSIDERATIONS ON RISK MANAGEMENT APPLIED TO FOREST FIRES

    Directory of Open Access Journals (Sweden)

    Ioan Valentin Marcel Posea

    2016-07-01

    Full Text Available Forest risk and management are ubiquitous in any socio-economic activity. Forestry, more than any other field, is at risk from fire. Consequently, it appears the necessity to implement a fire risk management that could resolve, at least partially, the specific problems. This study attempts to identify the specific stages and processes of forest fire risk management and their content. At the same time, I will try to highlight how a forest fire risk management process planning can be achieved and to present a way of achieving the Plan. I also deem necessary a forest fire risk monitoring and control system that I have built using the Deming cycle.

  3. Utilising Enterprise Risk Management Strategies to Develop a Governance and Operations Framework for a New Research Complex: A Case Study

    Science.gov (United States)

    Clyde-Smith, Jodi

    2014-01-01

    Enterprise risk management strategies were used to develop a regulatory and operational framework for a new multi-partner Research Institute that will house up to 900 staff from four different institutions in Queensland, Australia. The Institute will operate in a business environment while functioning as a research resource for the higher…

  4. Management & Communication: Project Management Case Study

    CERN Multimedia

    Nathalie Dumeaux

    2004-01-01

    We are pleased to announce the recent launch of a new workshop on Project Management. This is designed for People with budgetary, scheduling and/or organizational responsibilities in a project or a sub-project. The objectives through a management case study specially suited to CERN are: to become familiar with modern management techniques in use for structuring, planning, scheduling, costing and progress monitoring of a project or a sub-project. to understand in-depth issues associated with Deliverable-oriented Project Management, Earned Value Management, Advanced Project Cost Engineering and Project Risk Management. The full description of this workshop can be found here. The next session will be held on 8 October 2004. If you are interested in this workshop, please contact Nathalie Dumeaux, email or 78144. Programme of Seminars October to December 2004 Situation : 21.09.2004 Séminaires bilingues Dates Jours Places disponibles Project Management Case study 8 October 1 oui Intr...

  5. Large dams and risk management

    International Nuclear Information System (INIS)

    Cazelais, N.

    2003-01-01

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

  6. Effectiveness of a tailored intervention to improve cardiovascular risk management in primary care: study protocol for a randomised controlled trial.

    Science.gov (United States)

    Huntink, Elke; Heijmans, Naomi; Wensing, Michel; van Lieshout, Jan

    2013-12-17

    Cardiovascular disease (CVD) is an important worldwide cause of mortality. In The Netherlands, CVD is the leading cause of death for women and the second cause of death for men. Recommendations for diagnosis and treatment of CVD are not well implemented in primary care. In this study, we aim to examine the effectiveness of a tailored implementation program targeted at practice nurses to improve healthcare for patients with (high risk for) CVD. A two-arm cluster randomized trial is planned. We offer practice nurses a tailored program to improve adherence to six specific recommendations related to blood pressure and cholesterol target values, risk profiling and lifestyle advice. Practice nurses are offered training and feedback on their motivational interviewing technique and an e-learning program on cardiovascular risk management (CVRM). They are also advised to screen for the presence and severity of depressive symptoms in patients. We also advise practice nurses to use selected E-health options (selected websites and Twitter-consult) in patients without symptoms of depression. Patients with mild depressive symptoms are referred to a physical exercise group. We recommend referring patients with major depressive symptoms for assessment and treatment of depressive symptoms if appropriate before starting CVRM. Data from 900 patients at high risk of CVD or with established CVD will be collected in 30 general practices in several geographical areas in The Netherlands. The primary outcome measure is performance of practice nurses in CVRM and reflects application of recommendations for personalized counselling and education of CVRM patients. Patients' health-related lifestyles (physical exercise, diet and smoking status) will be measured with validated questionnaires and medical record audit will be performed to document estimated CVD risk. Additionally, we will survey and interview participating healthcare professionals for exploration of processes of change. The control

  7. 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...

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

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

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

  9. 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....

  10. Methods of assessment and management of enterprise risks

    Directory of Open Access Journals (Sweden)

    I. A. Kiseleva

    2017-01-01

    Full Text Available The article is devoted to the actual topic of our time – the management of business risks. An integral part of professional risk management is to identify the nature of the object of management in the sphere of economy. Since the domestic theory of risk management is under development, the problem of a clear comprehensive definition of risk becomes now of particular relevance. The article discusses the basic concepts of risk management; studied its components in the business activities; reflected system and risk management principles; The basic types of risks in business. A organizational and economic mechanism of enterprise risk assessment. Practical advice on risk management. Entrepreneurship without risk does not exist. With the development of market economy the specific entrepreneur determines the methods that will work, and they all lead to entrepreneurial risks. The level of threats on the market today, above the level of potential profits. It is concluded that it is impossible to increase revenue without increasing the risk or reduce risk without reducing income. The lower range of the probability distribution of expected returns relative to its mean value, the lower the risk associated with this operation. Avoid risk in business is almost impossible, but you can reduce this risk. And it depends on how professionally and correctly operates the entrepreneur, what kind of strategy he will choose to reduce the appearance of risk.

  11. Managing risks: Seveso and Harrisburg

    International Nuclear Information System (INIS)

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

    1980-01-01

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

  12. 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.

  13. DCS: A Case Study of Identification of Knowledge and Disposition Gaps Using Principles of Continuous Risk Management

    Science.gov (United States)

    Norcross, Jason; Steinberg, Susan; Kundrot, Craig; Charles, John

    2011-01-01

    The Human Research Program (HRP) is formulated around the program architecture of Evidence-Risk-Gap-Task-Deliverable. Review of accumulated evidence forms the basis for identification of high priority risks to human health and performance in space exploration. Gaps in knowledge or disposition are identified for each risk, and a portfolio of research tasks is developed to fill them. Deliverables from the tasks inform the evidence base with the ultimate goal of defining the level of risk and reducing it to an acceptable level. A comprehensive framework for gap identification, focus, and metrics has been developed based on principles of continuous risk management and clinical care. Research towards knowledge gaps improves understanding of the likelihood, consequence or timeframe of the risk. Disposition gaps include development of standards or requirements for risk acceptance, development of countermeasures or technology to mitigate the risk, and yearly technology assessment related to watching developments related to the risk. Standard concepts from clinical care: prevention, diagnosis, treatment, monitoring, rehabilitation, and surveillance, can be used to focus gaps dealing with risk mitigation. The research plan for the new HRP Risk of Decompression Sickness (DCS) used the framework to identify one disposition gap related to establishment of a DCS standard for acceptable risk, two knowledge gaps related to DCS phenomenon and mission attributes, and three mitigation gaps focused on prediction, prevention, and new technology watch. These gaps were organized in this manner primarily based on target for closure and ease of organizing interim metrics so that gap status could be quantified. Additional considerations for the knowledge gaps were that one was highly design reference mission specific and the other gap was focused on DCS phenomenon.

  14. Improving ICU risk management and patient safety.

    Science.gov (United States)

    Kielty, Lucy Ann

    2017-06-12

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

  15. Risk assessment and radioactive waste management

    International Nuclear Information System (INIS)

    Cohen, J.J.

    1979-01-01

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

  16. The Use of Remotely Sensed Rainfall for Managing Drought Risk: A Case Study of Weather Index Insurance in Zambia

    Directory of Open Access Journals (Sweden)

    Emily Black

    2016-04-01

    Full Text Available Remotely sensed rainfall is increasingly being used to manage climate-related risk in gauge sparse regions. Applications based on such data must make maximal use of the skill of the methodology in order to avoid doing harm by providing misleading information. This is especially challenging in regions, such as Africa, which lack gauge data for validation. In this study, we show how calibrated ensembles of equally likely rainfall can be used to infer uncertainty in remotely sensed rainfall estimates, and subsequently in assessment of drought. We illustrate the methodology through a case study of weather index insurance (WII in Zambia. Unlike traditional insurance, which compensates proven agricultural losses, WII pays out in the event that a weather index is breached. As remotely sensed rainfall is used to extend WII schemes to large numbers of farmers, it is crucial to ensure that the indices being insured are skillful representations of local environmental conditions. In our study we drive a land surface model with rainfall ensembles, in order to demonstrate how aggregation of rainfall estimates in space and time results in a clearer link with soil moisture, and hence a truer representation of agricultural drought. Although our study focuses on agricultural insurance, the methodological principles for application design are widely applicable in Africa and elsewhere.

  17. Health risk assessment for program managers

    International Nuclear Information System (INIS)

    Jump, R.A.; Williamson, D.S.

    1994-01-01

    This paper presents the findings of a sensitivity analysis into the independent variables that determine the levels of health risks posed by buried plutonium and americium at a typical contaminated site in an arid region. Environmental Restoration Program Managers often must make decisions concerning cleanup levels, remediation alternatives, schedules, cost estimates, etc. based upon extraordinarily safe assumptions about risk assessment calculation inputs. This study reveals to the Program Manager which variables are major drivers to the calculated levels of risk posed by transuranic radionuclides and which ones have second order effects or less. The findings of this study should indicate which inputs should be the focus of attention during negotiations with regulators and of further empirical investigation

  18. Engineering a mobile health tool for resource-poor settings to assess and manage cardiovascular disease risk: SMARThealth study.

    Science.gov (United States)

    Raghu, Arvind; Praveen, Devarsetty; Peiris, David; Tarassenko, Lionel; Clifford, Gari

    2015-04-29

    The incidence of chronic diseases in low- and middle-income countries is rapidly increasing both in urban and rural regions. A major challenge for health systems globally is to develop innovative solutions for the prevention and control of these diseases. This paper discusses the development and pilot testing of SMARTHealth, a mobile-based, point-of-care Clinical Decision Support (CDS) tool to assess and manage cardiovascular disease (CVD) risk in resource-constrained settings. Through pilot testing, the preliminary acceptability, utility, and efficiency of the CDS tool was obtained. The CDS tool was part of an mHealth system comprising a mobile application that consisted of an evidence-based risk prediction and management algorithm, and a server-side electronic medical record system. Through an agile development process and user-centred design approach, key features of the mobile application that fitted the requirements of the end users and environment were obtained. A comprehensive analytics framework facilitated a data-driven approach to investigate four areas, namely, system efficiency, end-user variability, manual data entry errors, and usefulness of point-of-care management recommendations to the healthcare worker. A four-point Likert scale was used at the end of every risk assessment to gauge ease-of-use of the system. The system was field-tested with eleven village healthcare workers and three Primary Health Centre doctors, who screened a total of 292 adults aged 40 years and above. 34% of participants screened by health workers were identified by the CDS tool to be high CVD risk and referred to a doctor. In-depth analysis of user interactions found the CDS tool feasible for use and easily integrable into the workflow of healthcare workers. Following completion of the pilot, further technical enhancements were implemented to improve uptake of the mHealth platform. It will then be evaluated for effectiveness and cost-effectiveness in a cluster randomized

  19. Research on Risk Management and Power Supplying Enterprise Control

    Science.gov (United States)

    Shen, Jianfei; Wang, Yige

    2017-09-01

    This paper derived from the background that electric power enterprises strengthen their risk management under requirements of the government. For the power industry, we explained the risk management theory, analysed current macro environment as well as basic situation, then classified and interpreted the main risks. In a case study on a power bureau, we established a risk management system based on deep understanding about the characteristics of its organization system and risk management function. Then, we focused on risks in operation as well as incorrupt government construction to give a more effective framework of the risk management system. Finally, we came up with the problems and specific countermeasures in risk management, which provided a reference for other electric power enterprises.

  20. Notes on risks analysis and security management in a hospital organization: a case study in a city of Rio de Janeiro

    Directory of Open Access Journals (Sweden)

    Priscila Carneiro Hamada

    2016-04-01

    Full Text Available This study aimed to analyze the processes of security management in a hospital in a big city at Rio de Janeiro’s State. The research method used was case study, strategy chosen by include both direct observation as a series of interviews. The obtained results allowed to highlight the importance of security management in a hospital, educate employees, assess risk scenarios, control the logistics flows of patients and contaminated products and waste.

  1. Managing project risks and uncertainties

    Directory of Open Access Journals (Sweden)

    Mike Mentis

    2015-01-01

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

  2. Estimation, assessment and management of risks

    International Nuclear Information System (INIS)

    Reinoehl-Kompa, S.

    2005-01-01

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

  3. Developing a synthetic national population to investigate the impact of different cardiovascular disease risk management strategies: A derivation and validation study.

    Science.gov (United States)

    Knight, Josh; Wells, Susan; Marshall, Roger; Exeter, Daniel; Jackson, Rod

    2017-01-01

    Many national cardiovascular disease (CVD) risk factor management guidelines now recommend that drug treatment decisions should be informed primarily by patients' multi-variable predicted risk of CVD, rather than on the basis of single risk factor thresholds. To investigate the potential impact of treatment guidelines based on CVD risk thresholds at a national level requires individual level data representing the multi-variable CVD risk factor profiles for a country's total adult population. As these data are seldom, if ever, available, we aimed to create a synthetic population, representing the joint CVD risk factor distributions of the adult New Zealand population. A synthetic population of 2,451,278 individuals, representing the actual age, gender, ethnicity and social deprivation composition of people aged 30-84 years who completed the 2013 New Zealand census was generated using Monte Carlo sampling. Each 'synthetic' person was then probabilistically assigned values of the remaining cardiovascular disease (CVD) risk factors required for predicting their CVD risk, based on data from the national census national hospitalisation and drug dispensing databases and a large regional cohort study, using Monte Carlo sampling and multiple imputation. Where possible, the synthetic population CVD risk distributions for each non-demographic risk factor were validated against independent New Zealand data sources. We were able to develop a synthetic national population with realistic multi-variable CVD risk characteristics. The construction of this population is the first step in the development of a micro-simulation model intended to investigate the likely impact of a range of national CVD risk management strategies that will inform CVD risk management guideline updates in New Zealand and elsewhere.

  4. Risk management and energy systems

    International Nuclear Information System (INIS)

    Carlevaro, F.; Romerio, F.

    1992-01-01

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

  5. Management of risks in the public interest

    International Nuclear Information System (INIS)

    Nathwani, J.S.; Lind, N.C.; Siddall, E.

    1990-01-01

    The study is a model framework for making decisions about risks and benefits and how the basis for such decisions can be improved through a more rational and scientific approach. An aim is to establish a general approach to the management of risks in society. The original impetus was to prepare for a study of the full socio-economic impact of nuclear energy. However, as the study progressed, it became clear that the total social and economic impacts of a single energy technology cannot be satisfactorily addressed in isolation. (orig./DG)

  6. PERFORMANCE IN INTERNAL CONTROL AND RISK MANAGEMENT

    Directory of Open Access Journals (Sweden)

    JELER (POPA IOANA

    2017-06-01

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

  7. 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.

  8. 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

  9. Consumer Evaluations of Food Risk Management Quality in Europe

    NARCIS (Netherlands)

    Kleef, van E.; Houghton, J.R.; Krystallis, A.; Pfenning, U.; Rowe, G.; Dijk, van H.; Lans, van der I.A.; Frewer, L.J.

    2007-01-01

    In developing and implementing appropriate food risk management strategies, it is important to understand how consumers evaluate the quality of food risk management practices. The aim of this study is to model the underlying psychological factors influencing consumer evaluations of food risk

  10. Managing Risks in Dry Port Operations

    OpenAIRE

    Ciortescu Cezar-Gabriel; Pãvãla?cu Narcis Sebastian

    2012-01-01

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

  11. BEHAVIOURAL INSIGHTS INTO SUPPLY CHAIN RISK MANAGEMENT

    OpenAIRE

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

    2015-01-01

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

  12. 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

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

    Science.gov (United States)

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

    2003-01-01

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

  14. Credit Risk Evaluation : Modeling - Analysis - Management

    OpenAIRE

    Wehrspohn, Uwe

    2002-01-01

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

  15. Engaging older people in an internet platform for cardiovascular risk self-management: a qualitative study among Dutch HATICE participants

    NARCIS (Netherlands)

    van Middelaar, Tessa; Beishuizen, Cathrien R. L.; Guillemont, Juliette; Barbera, Mariagnese; Richard, Edo; Moll van Charante, Eric P.; van Gool, Willem A.; Soininen, Hilkka; Kivipelto, Miia; Andrieu, Sandrine; Brayne, Carol; Jongstra, Susan; van Wanrooij, Lennard L.; Hoevenaar-Blom, Marieke P.; Ngandu, Tiia; Mangialasche, Francesca; Coley, Nicola; Meiller, Yannick; van de Groep, Bram

    2018-01-01

    To study older peoples' experiences with an interactive internet platform for cardiovascular self-management, to assess which factors influence initial and sustained engagement. To assess their views on future use within primary care. Qualitative semistructured interview study, with thematic

  16. Engaging older people in an internet platform for cardiovascular risk self-management: a qualitative study among Dutch HATICE participants

    NARCIS (Netherlands)

    Middelaar, T. van; Beishuizen, C.R.; Guillemont, J.; Barbera, M.; Richard, E.; Charante, E.P.M. van

    2018-01-01

    OBJECTIVES: To study older peoples' experiences with an interactive internet platform for cardiovascular self-management, to assess which factors influence initial and sustained engagement. To assess their views on future use within primary care. DESIGN: Qualitative semistructured interview study,

  17. Strategic Management Accounting and Feed-forward Management: with Reference to the Unified Management of Profit Opportunity and Risk

    OpenAIRE

    西村, 明

    2015-01-01

    This paper aims toreexamine strategic management accouning in relation to profit opportunity and risk from the viewpoint of feed-forward management , as few studies to date have discuued the relations between management accounting and the unified management of profit opportunity and risk.Many studies have been conducted that emphasize non-fine information and feedback organizational management in an attept to make traditional management accounting relevant to practical strategic needs. As lon...

  18. Learned predation risk management by spider mites

    Directory of Open Access Journals (Sweden)

    Thomas eHackl

    2014-09-01

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

  19. Study of differences in presentation, risk factors and management in diabetic and nondiabetic patients with acute coronary syndrome

    Directory of Open Access Journals (Sweden)

    Krishna Kumar Sharma

    2016-01-01

    Full Text Available Objectives: To compare clinical characteristics, treatment, and utilization of evidence-based medicines at discharge from hospital in acute coronary syndrome (ACS patients with or without diabetes at a tertiary care cardiac center in India. Methods: We performed an observational study in consecutive patients discharged following management of ACS. We obtained demographic details, comorbid conditions, and cardiovascular risk factors, physical and biochemical parameters, and management. Descriptive statistics are reported. Results: We enrolled 100 patients (diabetics = 28 with mean age of 59.0 ± 10.8 years (diabetics 59.3 ± 11.6, nondiabetics 58.9 ± 8.5. Forty-nine patients had ST-elevation myocardial infarction (STEMI (diabetics = 14, 28.7% while 51 had nonSTEMI/unstable angina (diabetics = 14, 27.4% (P = nonsignificant. Among diabetics versus nondiabetics there was greater prevalence (% of hypertension (78.6% vs. 44.4%, obesity (25.0% vs. 8.3%, abdominal obesity (85.7% vs. 69.4% and sedentary activity (89.2% vs. 77.8%, and lower prevalence of smoking/tobacco use (10.7% vs. 25.0% (P < 0.05. In STEMI patients 28 (57.1% were thrombolysed (diabetes 17.8% vs. 31.9%, percutaneous coronary interventions (PCI was in 67.8% diabetics versus 84.7% nondiabetics and coronary bypass surgery in 21.4% versus 8.3%. At discharge, in diabetics versus nondiabetics, there was similar use of angiotensin converting enzyme inhibitors (67.9% vs. 69.4% and statins (100.0% vs. 98.6% while use of dual antiplatelet therapy (85.7% vs. 95.8% and beta-blockers (64.3% vs. 73.6% was lower (P < 0.05. Conclusions: Diabetic patients with ACS have greater prevalence of cardiometabolic risk factors (obesity, abdominal obesity, and hypertension as compared to nondiabetic patients. Less diabetic patients undergo PCIs and receive lesser dual anti-platelet therapy and beta-blockers.

  20. CEA - Assessment of risk management 2013

    International Nuclear Information System (INIS)

    Bigot, Bernard; Bonnevie, Edwige; Maillot, Bernard

    2014-06-01

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

  1. [The relevance of clinical risk management].

    Science.gov (United States)

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

    2011-01-01

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

  2. Effectiveness evaluation of contingency sum as a risk management ...

    African Journals Online (AJOL)

    Ethiopian Journal of Environmental Studies and Management ... manage risks prone projects have adopted several methods, one of which is contingency sum. ... initial project cost, cost overrun and percentage allowed for contingency.

  3. Risk management of hydropower development in China

    International Nuclear Information System (INIS)

    Tang, Wenzhe; Li, Zhuoyu; Qiang, Maoshan; Wang, Shuli; Lu, Youmei

    2013-01-01

    There is a rapidly increasing demand for hydropower in China. However, little research has been conducted to systematically investigate the overall aspects of hydropower development risks. With support of the data collected from a fieldwork survey, this study reports the multiple facets of hydropower development risks in China as perceived by main project participants. All groups have a common view on the criticality of safety, and the groups also have their own priorities, i.e., resettlement of migrants, incompetence of subcontractors, project delay, inadequate or incorrect design, premature failure of facilities and ecological and environmental impacts are the key risks to clients, whereas quality of work, financial related risks, reputation, and claims and disputes are the main concerns to contractors. A case study of Three Gorges Project further demonstrates that, hydropower development risks can be effectively managed by encouraging joint efforts of all participants to achieve the goals on producing renewable energy, reducing emissions of CO 2 , and providing important social/economical benefits. Future hydropower development should emphasize the interactions between project delivery, environmental, and economical processes to reach appropriate trade-offs among involving stakeholders, by adequately considering the inter-relations between project participants' risks as well as hydropower project's externalities on a broad view. - Highlights: • Largely attributed to unforeseen geology conditions, safety is critical in hydropower development. • Resettlement of migrants is the principal risk to clients, whereas quality of works is the first concern to contractors. • One group's risks are typically related to others', needing collaborative risk management by participants. • Three Gorges Project plays a key role on producing renewable energy, and providing social/economical benefits. • Hydropower development should emphasize the interactions between

  4. 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.

  5. Contradictions Between Risk Management and Sustainable Development

    International Nuclear Information System (INIS)

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

    2006-01-01

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

  6. Geomorphology-based unit hydrograph models for flood risk management: case study in Brazilian watersheds with contrasting physiographic characteristics

    Directory of Open Access Journals (Sweden)

    SAMUEL BESKOW

    2018-05-01

    Full Text Available ABSTRACT Heavy rainfall in conjunction with an increase in population and intensification of agricultural activities have resulted in countless problems related to flooding in watersheds. Among the techniques available for direct surface runoff (DSR modeling and flood risk management are the Unit Hydrograph (UH and Instantaneous Unit Hydrograph (IUH. This study focuses on the evaluation of predictive capability of two conceptual IUH models (Nash and Clark, considering their original (NIUH and CIUH and geomorphological approaches (NIUHGEO and CIUHGEO, and their advantages over two traditional synthetics UH models - Triangular (TUH and Dimensionless (DUH, to estimate DSR hydrographs taking as reference two Brazilian watersheds with contrasting geomorphological and climatic characteristics. The main results and conclusions were: i there was an impact of the differences in physiographical characteristics between watersheds, especially those parameters associated with soil; the dominant rainfall patterns in each watershed had an influence on flood modeling; and ii CIUH was the most satisfactory model for both watersheds, followed by NIUH, and both models had substantial superiority over synthetic models traditionally employed; iii although geomorphological approaches for IUH had performances slightly better than TUH and DUH, they should not be considered as standard tools for flood modeling in these watersheds.

  7. Hazard evaluation and risk management

    International Nuclear Information System (INIS)

    Fritzsche, A.F.

    1986-01-01

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

  8. 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.

  9. 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

  10. Risk Management and Financial Derivatives: An Overview

    NARCIS (Netherlands)

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

    2012-01-01

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

  11. Urban Risk Reduction Through Effective Disaster Management Plan-A Case Study Of Shimla City Himachal Pradesh India

    Directory of Open Access Journals (Sweden)

    Bhavna Karki

    2015-02-01

    Full Text Available Abstract By 2050 70 of the worlds population will live in urban areas. In India the urban population has increased from 217 million to 377 million in last two decades .With increasing population the associated risk and vulnerability has also increased. As cities continue to grow there is increased pressure on resources exposure of lives livelihoods and economic social and environmental assets to risk is set to increase exponentially. Recognised as one of the best cities for public services and one of the oldest Municipal Corporation in India Shimla city is situated at the traverse spur of the Central Himalayas at 31004 N to 31010 N latitude and 77005 E to 77015 E longitude at an altitude of 2397.59 m metres amsl. This paper aims at underlying the role of Shimla Municipal Corporation SMC as local government in managing disasters in the city along with effective planning and risk assessments.

  12. Risk management at the level of agricultural organizations

    Directory of Open Access Journals (Sweden)

    Genoveva Buzamat

    2014-10-01

    Full Text Available In agriculture, as in other production branches of the economy, there businesses which have two main objectives: on short term – achieve profit and on long term – the viability of the company (economic growth and stability. Even if the risk management practice can vary from one company to another, some elements are common for the risk management programs. These are: mission identification, risk assessment and of the risk control uncertainty, risk financing, risk administration. In this study we identify the risk categories and we establish methods to prevent them. The studied organization has as activity object the cereals and technical plants culture.

  13. Risk management at Lawrence Livermore National Laboratory

    International Nuclear Information System (INIS)

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

    1993-10-01

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

  14. 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

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

    Directory of Open Access Journals (Sweden)

    ANDRÁS TILCSIK

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

  16. 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.

  17. InteractInteraction mechanism of emergency response in geological hazard perception and risk management: a case study in Zhouqu county

    Science.gov (United States)

    Qi, Yuan; Zhao, Hongtao

    2017-04-01

    China is one of few several natural disaster prone countries, which has complex geological and geographical environment and abnormal climate. On August 8, 2010, a large debris flow disaster happened in Zhouqu Country, Gansu province, resulting in more than 1700 casualties and more than 200 buildings damaged. In order to percept landslide and debris flow, an early warning system was established in the county. Spatial information technologies, such as remote sensing, GIS, and GPS, play core role in the early warning system, due to their functions in observing, analyzing, and locating geological disasters. However, all of these spatial information technologies could play an important role only guided by the emergency response mechanism. This article takes the establishment of Zhouqu Country's Disaster Emergency Response Interaction Mechanism (DERIM) as an example to discuss the risk management of country-level administrative units. The country-level risk management aims to information sharing, resources integration, integrated prevention and unified command. Then, nine subsystems support DERIM, which included disaster prevention and emergency data collection and sharing system, joint duty system, disaster verification and evaluation system, disaster consultation system, emergency warning and information release system, emergency response system, disaster reporting system, plan management system, mass prediction and prevention management system. At last, an emergency command platform in Zhouqu Country built up to realize DERIM. The core mission of the platform consists of daily management of disaster, monitoring and warning, comprehensive analysis, information release, consultation and decision-making, emergency response, etc. Five functional modules, including module of disaster information management, comprehensive monitoring module (geological monitoring, meteorological monitoring, water conservancy and hydrological monitoring), alarm management module, emergency

  18. Risk and/or resilience management

    Directory of Open Access Journals (Sweden)

    Jean-Paul Louisot

    2015-06-01

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

  19. 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.

  20. 77 FR 13585 - Electricity Subsector Cybersecurity Risk Management Process Guideline

    Science.gov (United States)

    2012-03-07

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

  1. 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

  2. Coordinating resources for prospective medication risk management of older home care clients in primary care: procedure development and RCT study design for demonstrating its effectiveness.

    Science.gov (United States)

    Toivo, Terhi; Dimitrow, Maarit; Puustinen, Juha; Savela, Eeva; Pelkonen, Katariina; Kiuru, Valtteri; Suominen, Tuula; Kinnunen, Sirkka; Uunimäki, Mira; Kivelä, Sirkka-Liisa; Leikola, Saija; Airaksinen, Marja

    2018-03-16

    The magnitude of safety risks related to medications of the older adults has been evidenced by numerous studies, but less is known of how to manage and prevent these risks in different health care settings. The aim of this study was to coordinate resources for prospective medication risk management of home care clients ≥ 65 years in primary care and to develop a study design for demonstrating effectiveness of the procedure. Health care units involved in the study are from primary care in Lohja, Southern Finland: home care (191 consented clients), the public healthcare center, and a private community pharmacy. System based risk management theory and action research method was applied to construct the collaborative procedure utilizing each profession's existing resources in medication risk management of older home care clients. An inventory of clinical measures in usual clinical practice and systematic review of rigorous study designs was utilized in effectiveness study design. The new coordinated medication management model (CoMM) has the following 5 stages: 1) practical nurses are trained to identify clinically significant drug-related problems (DRPs) during home visits and report those to the clinical pharmacist. Clinical pharmacist prepares the cases for 2) an interprofessional triage meeting (50-70 cases/meeting of 2 h) where decisions are made on further action, e.g., more detailed medication reviews, 3) community pharmacists conduct necessary medication reviews and each patients' physician makes final decisions on medication changes needed. The final stages concern 4) implementation and 5) follow-up of medication changes. Randomized controlled trial (RCT) was developed to demonstrate the effectiveness of the procedure. The developed procedure is feasible for screening and reviewing medications of a high number of older home care clients to identify clients with severe DRPs and provide interventions to solve them utilizing existing primary care resources

  3. Risk impact of two accident management strategies

    International Nuclear Information System (INIS)

    Dingman, S.; Camp, A.

    1992-01-01

    This report probabilistic Risk Assessment is used to evaluate two accident management strategies: intentionally depressurizing the reactor coolant system of a pressurized water reactor to prevent containment-pressurization during high pressure melt ejection, and flooding the containment of a boiling water reactor to prevent or delay vessel breach. Sensitivity studies indicated that intentional depressurization would not provide a significant risk reduction at Surry. A preliminary evaluation of the containment flooding strategy indicated that it might prove beneficial for some plants, but that further strategy development would be needed to fully evaluate the strategy-

  4. Continuous Risk Management: A NASA Program Initiative

    Science.gov (United States)

    Hammer, Theodore F.; Rosenberg, Linda

    1999-01-01

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

  5. Software And Systems Engineering Risk Management

    Science.gov (United States)

    2010-04-01

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

  6. 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.

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

    African Journals Online (AJOL)

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

  8. RISK MANAGEMENT MECHANISM OF GRAIN PROCESSING ENTERPRISES

    Directory of Open Access Journals (Sweden)

    I. P. Bogomolova

    2013-01-01

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

  9. Business managers turn to risk assessment

    International Nuclear Information System (INIS)

    Allen, Frank

    1993-01-01

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

  10. Highly Enhanced Risk Management Emergency Satellite

    DEFF Research Database (Denmark)

    Dalmeir, Michael; Gataullin, Yunir; Indrajit, Agung

    HERMES (Highly Enhanced Risk Management Emergency Satellite) is potential European satellite mission for global flood management, being implemented by Technical University Munich and European Space Agency. With its main instrument - a reliable and precise Synthetic Aperture Radar (SAR) antenna...

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

    International Nuclear Information System (INIS)

    Thekdi, Shital; Aven, Terje

    2016-01-01

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

  12. 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.

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

    International Nuclear Information System (INIS)

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

    1997-01-01

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

  14. 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 .

  15. PERFORMANCE IN INTERNAL CONTROL AND RISK MANAGEMENT

    OpenAIRE

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

    2017-01-01

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

  16. CEA - Assessment of risk management for 2012

    International Nuclear Information System (INIS)

    Bonnevie, Edwige

    2013-06-01

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

  17. 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

  18. Risk Management for the International Space Station

    Science.gov (United States)

    Sebastian, J.; Brezovic, Philip

    2002-01-01

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

  19. Social Risk and the Management of MNCs

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    2015-01-01

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

  20. Risk Management - Variance Minimization or Lower Tail Outcome Elimination

    DEFF Research Database (Denmark)

    Aabo, Tom

    2002-01-01

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

  1. Risks management in project planning

    OpenAIRE

    Stankevičiūtė, Roberta

    2017-01-01

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

  2. The total theory about risk management

    International Nuclear Information System (INIS)

    Furuya, Shunsuke

    2003-01-01

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

  3. Development of computerized risk management tool

    International Nuclear Information System (INIS)

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

    1997-01-01

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

  4. Alcohol consumption and sport: a cross-sectional study of alcohol management practices associated with at-risk alcohol consumption at community football clubs.

    Science.gov (United States)

    Kingsland, Melanie; Wolfenden, Luke; Rowland, Bosco C; Gillham, Karen E; Kennedy, Vanessa J; Ramsden, Robyn L; Colbran, Richard W; Weir, Sarah; Wiggers, John H

    2013-08-16

    Excessive alcohol consumption is responsible for considerable harm from chronic disease and injury. Within most developed countries, members of sporting clubs participate in at-risk alcohol consumption at levels above that of communities generally. There has been limited research investigating the predictors of at-risk alcohol consumption in sporting settings, particularly at the non-elite level. The purpose of this study was to examine the association between the alcohol management practices and characteristics of community football clubs and at-risk alcohol consumption by club members. A cross sectional survey of community football club management representatives and members was conducted. Logistic regression analysis (adjusting for clustering by club) was used to determine the association between the alcohol management practices (including alcohol management policy, alcohol-related sponsorship, availability of low- and non-alcoholic drinks, and alcohol-related promotions, awards and prizes) and characteristics (football code, size and location) of sporting clubs and at-risk alcohol consumption by club members. Members of clubs that served alcohol to intoxicated people [OR: 2.23 (95% CI: 1.26-3.93)], conducted 'happy hour' promotions [OR: 2.84 (95% CI: 1.84-4.38)] or provided alcohol-only awards and prizes [OR: 1.80 (95% CI: 1.16-2.80)] were at significantly greater odds of consuming alcohol at risky levels than members of clubs that did not have such alcohol management practices. At-risk alcohol consumption was also more likely among members of clubs with less than 150 players compared with larger clubs [OR:1.45 (95% CI: 1.02-2.05)] and amongst members of particular football codes. The findings of this study suggest a need and opportunity for the implementation of alcohol harm reduction strategies targeting specific alcohol management practices at community football clubs.

  5. Risk, Risk Perception, Risk Management – a Review of the Literature

    OpenAIRE

    Tamás Vasvári

    2015-01-01

    Risks have become an integral part of our society. In this context, the aim of this paper is to provide a summary of the findings of risk research conducted in different fields of study and to trace the effect of these findings on risk management practices. The basic approaches to risk presented in this paper show that the notions of probability employed in studying processes in any area of life belong in the province of epistemology rather than ontology. Therefore, subjectivity cannot be com...

  6. TELAAH ENTERPRISE RISK MANAGEMENT MELALUI CORPORATE GOVERNANCE DAN KONSENTRASI KEPEMILIKAN

    Directory of Open Access Journals (Sweden)

    Daniel T H Manurung

    2016-12-01

    Full Text Available Abstract: Assessing Enterprise Risk Management through Corporate Governance and Ownership Concentration. The purpose of this research is to determine the influence of corporate governance and concentrated of ownership with enterprise risk management. This research uses multiple regression analysis as a testing tool. The sample that is used in this study is 50 manufacturing companies which is listed in the Indonesia Stock Exchange. The year that is used as the basis of sampling is 2013-2014. The result of this reseacrh is a significant effect on corporate governance in Enterprise risk management. While, variable of concentration of ownership has no significant influence in enterprise risk management.

  7. 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.

  8. 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

  9. Coastal Risk Management in a Changing Climate

    DEFF Research Database (Denmark)

    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...... such as deltas, estuaries and wetlands, where many large cities and industrial areas are located. Integrated risk assessment tools for considering the effects of climate change and related uncertainties. Presents latest insights on coastal engineering defenses. Provides integrated guidelines for setting up...

  10. Role of NDT in risk management

    International Nuclear Information System (INIS)

    Porter, Jr. James F.

    2009-01-01

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

  11. 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.

  12. Papers of a Canadian Institute conference : Managing energy price risk

    International Nuclear Information System (INIS)

    2003-01-01

    During this conference, participants were offered an opportunity to broaden their knowledge on fundamentals and technical risk management. In particular, the presentations addressed topics such as: the assessment and evaluation of risk tolerance and risk management options within an organization; the tightening of risk management procedures and policies; the measurement and monitoring of risk portfolio and value at risk; the efficient trading of structured energy products; and the use of call and put options, collars and straddles, swaps and other energy related derivatives. The participants also benefited from the use of case studies, panels and tutorials conducted by energy buyers, sellers and risk management experts. The conference represented a forum where participants discussed strategies and tactics for pricing, hedging and trading energy risk in deregulated markets. Of the thirteen presentations included in this document, four were included in this database. refs., tabs., figs

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

    Science.gov (United States)

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

    2011-01-01

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

  14. Risk Management and Uncertainty in Infrastructure Projects

    DEFF Research Database (Denmark)

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

    2014-01-01

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

  15. Toward effective ecological risk-management of refinery corrective action

    International Nuclear Information System (INIS)

    Metzger, B.H.; Rury, P.M.; Turton, D.; Archibald, B.; Clark, J.; Cura, J.

    1995-01-01

    Cleanup of complex industrial sites, such as refineries, requires risk-based decision tools to ensure that environmentally protective remediation is consistent with current and future land use. However, conventional ecological risk assessment approaches are not well suited for complex industrial sites. Site risk assessments focus on hypothetical chemical risk assuming diverse and undisturbed ecosystems, rather than industrial and disturbed area conditions. In addition, they offer little guidance as to how to make timely and effective risk management decisions. An innovative methodology is proposed to assist industry and regulatory risk managers with rapid EcoRisk reconnaissance and cost-effective remedial decision-making at complex industrial sites. Phase 1 comprises a three-step risk screening of areas of ecological concern at the site, which integrates habitat quality characteristics and potential chemical hazards. It yields an ordering of areas as follows: areas of no significant risk; areas of potentially significant risk; and areas of likely significant risk. A decision rule is then applied to determine appropriate risk management action, including: no action; additional study; and remedial or management action. In Phase 2, additional study is conducted for areas that exhibit potentially significant risk so as to facilitate risk management. This methodology is currently being applied at the 1,300 acre, former Exxon Bayway Refinery in New Jersey

  16. Risk management in a competitive electricity market

    International Nuclear Information System (INIS)

    Liu, Min; Wu, Felix F.

    2007-01-01

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

  17. 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.

  18. 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.

  19. 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

  20. Aversion to ambiguity and willingness to take risks affect therapeutic decisions in managing atrial fibrillation for stroke prevention: results of a pilot study in family physicians.

    Science.gov (United States)

    Raptis, Stavroula; Chen, Jia Ning; Saposnik, Florencia; Pelyavskyy, Roman; Liuni, Andrew; Saposnik, Gustavo

    2017-01-01

    Anticoagulation is the therapeutic paradigm for stroke prevention in patients with atrial fibrillation (AF). It is unknown how physicians make treatment decisions in primary stroke prevention for patients with AF. To evaluate the association between family physicians' risk preferences (aversion risk and ambiguity) and therapeutic recommendations (anticoagulation) in the management of AF for primary stroke prevention by applying concepts from behavioral economics. Overall, 73 family physicians participated and completed the study. Our study comprised seven simulated case vignettes, three behavioral experiments, and two validated surveys. Behavioral experiments and surveys incorporated an economic framework to determine risk preferences and biases (e.g., ambiguity aversion, willingness to take risks). The primary outcome was making the correct decision of anticoagulation therapy. Secondary outcomes included medical errors in the management of AF for stroke prevention. Overall, 23.3% (17/73) of the family physicians elected not to escalate the therapy from antiplatelets to anticoagulation when recommended by best practice guidelines. A total of 67.1% of physicians selected the correct therapeutic options in two or more of the three simulated case vignettes. Multivariate analysis showed that aversion to ambiguity was associated with appropriate change to anticoagulation therapy in the management of AF (OR 5.48, 95% CI 1.08-27.85). Physicians' willingness to take individual risk in multiple domains was associated with lower errors (OR 0.16, 95% CI 0.03-0.86). Physicians' aversion to ambiguity and willingness to take risks are associated with appropriate therapeutic decisions in the management of AF for primary stroke prevention. Further large scale studies are needed.

  1. 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.

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

    Science.gov (United States)

    Neumann, Stefan

    2015-01-01

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

  3. ANALYSIS AND MANAGEMENT RISK IN INTERNATIONAL AFFAIRS

    OpenAIRE

    Lăpăduşi Mihaela Loredana,; Căruntu Constantin

    2009-01-01

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

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

    OpenAIRE

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

    2007-01-01

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

  5. Effectiveness of a self-management intervention with personalised genetic and lifestyle-related risk information on coronary heart disease and diabetes-related risk in type 2 diabetes (CoRDia): study protocol for a randomised controlled trial.

    Science.gov (United States)

    Davies, Anna K; McGale, Nadine; Humphries, Steve E; Hirani, Shashivadan P; Beaney, Katherine E; Bappa, Dauda A S; McCabe, John G; Newman, Stanton P

    2015-12-02

    outcomes will be assessed by questionnaire. Measures will be taken at baseline, 3 months (questionnaire only), 6 months and 12 months post-baseline. This study will determine whether the addition of personalised genetic- and lifestyle-associated CHD risk information to a group self-management intervention improves diabetes control and CHD risk compared with group self-management and usual care. Effectiveness of the combined intervention on health behaviours cognitions theorised to predict them, and psychological outcomes will also be investigated. This study has been registered at ClinicalTrials.gov; registration identifier NCT01891786 , registered 28 June 2013.

  6. Effect of a multifactorial fall-and-fracture risk assessment and management program on gait and balance performances and disability in hospitalized older adults: a controlled study.

    Science.gov (United States)

    Trombetti, A; Hars, M; Herrmann, F; Rizzoli, R; Ferrari, S

    2013-03-01

    This controlled intervention study in hospitalized oldest old adults showed that a multifactorial fall-and-fracture risk assessment and management program, applied in a dedicated geriatric hospital unit, was effective in improving fall-related physical and functional performances and the level of independence in activities of daily living in high-risk patients. Hospitalization affords a major opportunity for interdisciplinary cooperation to manage fall-and-fracture risk factors in older adults. This study aimed at assessing the effects on physical performances and the level of independence in activities of daily living (ADL) of a multifactorial fall-and-fracture risk assessment and management program applied in a geriatric hospital setting. A controlled intervention study was conducted among 122 geriatric inpatients (mean ± SD age, 84 ± 7 years) admitted with a fall-related diagnosis. Among them, 92 were admitted to a dedicated unit and enrolled into a multifactorial intervention program, including intensive targeted exercise. Thirty patients who received standard usual care in a general geriatric unit formed the control group. Primary outcomes included gait and balance performances and the level of independence in ADL measured 12 ± 6 days apart. Secondary outcomes included length of stay, incidence of in-hospital falls, hospital readmission, and mortality rates. Compared to the usual care group, the intervention group had significant improvements in Timed Up and Go (adjusted mean difference [AMD] = -3.7s; 95 % CI = -6.8 to -0.7; P = 0.017), Tinetti (AMD = -1.4; 95 % CI = -2.1 to -0.8; P fall-and-fracture risk-based intervention program, applied in a dedicated geriatric hospital unit, was effective and more beneficial than usual care in improving physical parameters related to the risk of fall and disability among high-risk oldest old patients.

  7. Environmental asset management: Risk management systems

    CSIR Research Space (South Africa)

    Naudé, Brian

    2017-07-01

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

  8. 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.

  9. 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

  10. Consumer responses to communication about food risk management

    NARCIS (Netherlands)

    Dijk, van H.; Houghton, J.R.; Kleef, van E.; Lans, van der I.A.; Rowe, G.; Frewer, L.J.

    2008-01-01

    Recent emphasis within policy circles has been on transparent communication with consumers about food risk management decisions and practices. As a consequence, it is important to develop best practice regarding communication with the public about how food risks are managed. In the current study,

  11. An Analysis of Enterprise Risk Management and IT Effectiveness Constructs

    Science.gov (United States)

    Waithe, Errol

    2016-01-01

    One major problem many organizations are facing is balancing the risk-management practices of the organization with overall information technology (IT) effectiveness. The purpose of this non-experimental quantitative correlational study was to assess the constructs and correlations associated with enterprise risk management and IT effectiveness.…

  12. Controlling Legal Risk for Effective Hospital Management

    Directory of Open Access Journals (Sweden)

    Hyun Jun Park

    2016-04-01

    Full Text Available Purpose: To analyze the types of medical malpractice, medical errors, and medical disputes in a university hospital for the proposal of countermeasures that maximize the efficiency of hospital management, medical departments, and healthcare providers. Materials and Methods: This study retrospectively reviewed and analyzed 55 closed civil lawsuits among 64 medical lawsuit cases carried out in Pusan National University Hospital from January 2000 to April 2013 using medical records, petitions, briefs, and data from the Medical Dispute Mediation Committee. Results: Of 55 civil lawsuits, men were the main plaintiffs in 31 cases (56.4%. The average period from medical malpractice to malpractice proceeding was 16.5 months (range, 1 month to 6.4 years, and the average period from malpractice proceeding to the disposition of a lawsuit was 21.7 months (range, 1 month to 4 years and 11 months. Conclusions: Hospitals can effectively manage their legal risks by implementing a systematic medical system, eliminating risk factors in administrative service, educating all hospital employees on preventative strategies, and improving customer service. Furthermore, efforts should be made to establish standard coping strategies to manage medical disputes and malpractice lawsuits, operate alternative dispute resolution methods including the Medical Dispute Mediation Committee, create a compliance support center, deploy a specialized workforce including improved legal services for employees, and specialize the management-level tasks of the hospital.

  13. Risk management and internal audit: Evidence from Greece

    Directory of Open Access Journals (Sweden)

    George Drogalas

    2017-07-01

    Full Text Available Risk management is ranked by financial executives as one of their most important objectives. For this reason, a wide range of literature on risk management has been developed. Within this fluid business environment, internal audit plays a key role in monitoring a company’s risk profile and identifying areas for improving risk management processes. The purpose of this study is to provide a comprehensive overview of the factors that impact on risk management regarding internal audit function. Empirical evidence was collected by means of a mailed survey. Regression analysis is used in order to illustrate the information gathered. Consistent with theory and our expectations, the results indicate that internal audit, internal auditor and added value of internal audit are statistically significantly associated with risk management.

  14. Enterprise risk management implementation : perceptions of risk practitioners in the South African mining industry

    OpenAIRE

    2013-01-01

    M.Comm. (Financial Economics) Enterprise risk management (ERM) is emerging as a risk management methodology that is seemingly superior to that of traditional, silo-based risk management. Although ERM implementation is on the increase, research into ERM is still limited. There is, for instance, a lack of clarity within the literature regarding which factors lead to companies embracing ERM, as well as a lack of consensus on ERM’s benefits. The purpose of this study was therefore to explore t...

  15. 78 FR 4848 - Social Media: Consumer Compliance Risk Management Guidance

    Science.gov (United States)

    2013-01-23

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

  16. 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.

  17. 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:...

  18. Examining the realities of risk management

    International Nuclear Information System (INIS)

    Garrick, B.J.

    1985-01-01

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

  19. Project risk management in complex petrochemical system

    Directory of Open Access Journals (Sweden)

    Kirin Snežana

    2012-01-01

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

  20. Supply Chain Risk Management and Frameworks in the UK Industry

    OpenAIRE

    Chan, Ratanak

    2011-01-01

    This research aims to study the supply chain risk management in the retail industry. The risen in level of risks in the supply chain and the increasing role of retailers in the supply chain have driven this research to be conducted. Four important objectives of this research are: to identify and categorise retail supply chain risks, to present which principal risks have been concerned by most retailers, to build the supply chain risk mitigation framework in the retail supply chain, and to d...

  1. 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.

  2. Risk and Management Control: A Partial Least Square Modelling Approach

    DEFF Research Database (Denmark)

    Nielsen, Steen; Pontoppidan, Iens Christian

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

  3. Impact of a decision aid about stratified ovarian cancer risk-management on women's knowledge and intentions: a randomised online experimental survey study.

    Science.gov (United States)

    Meisel, Susanne F; Freeman, Maddie; Waller, Jo; Fraser, Lindsay; Gessler, Sue; Jacobs, Ian; Kalsi, Jatinderpal; Manchanda, Ranjit; Rahman, Belinda; Side, Lucy; Wardle, Jane; Lanceley, Anne; Sanderson, Saskia C

    2017-11-16

    Risk stratification using genetic and other types of personal information could improve current best available approaches to ovarian cancer risk reduction, improving identification of women at increased risk of ovarian cancer and reducing unnecessary interventions for women at lower risk. Amounts of information given to women may influence key informed decision-related outcomes, e.g. knowledge. The primary aim of this study was to compare informed decision-related outcomes between women given one of two versions (gist vs. extended) of a decision aid about stratified ovarian cancer risk-management. This was an experimental survey study comparing the effects of brief (gist) information with lengthier, more detailed (extended) information on cognitions relevant to informed decision-making about participating in risk-stratified ovarian cancer screening. Women with no personal history of ovarian cancer were recruited through an online survey company and randomised to view the gist (n = 512) or extended (n = 519) version of a website-based decision aid and completed an online survey. Primary outcomes were knowledge and intentions. Secondary outcomes included attitudes (values) and decisional conflict. There were no significant differences between the gist and extended conditions in knowledge about ovarian cancer (time*group interaction: F = 0.20, p = 0.66) or intention to participate in ovarian cancer screening based on genetic risk assessment (t(1029) = 0.43, p = 0.67). There were also no between-groups differences in secondary outcomes. In the sample overall (n = 1031), knowledge about ovarian cancer increased from before to after exposure to the decision aid (from 5.71 to 6.77 out of a possible 10: t = 19.04, p type of content for decision aids about stratified ovarian cancer risk-management. This study was registered with the ISRCTN registry; registration number: ISRCTN48627877 .

  4. 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?

  5. The Imperative of Enterprise Risk Management in the Value-Creating Process

    Directory of Open Access Journals (Sweden)

    Keul M.

    2009-12-01

    Full Text Available A growing emphasis on risk assessment has marked the past 20 years of financial theory and practice and risk management has emerged as an independent research area. The present study focuses on enterprise risk management strategies which, in contrast to portfolio risk management, require different ways of thinking and different tools to use. With an understanding of risks and their consequences, firms can develop a strategic risk management strategy and exploit risks for higher returns rather than hedging.

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

    Directory of Open Access Journals (Sweden)

    Irina Dănciulescu

    2015-12-01

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

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

    International Nuclear Information System (INIS)

    Iden, D.C.

    1985-01-01

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

  8. The Functions of Sourcing Intermediaries in Global Supply Risk Management

    DEFF Research Database (Denmark)

    Vedel, Mette; Ellegaard, Chris

    The aim of this work-in-progress paper is to uncover the supply risk management functions performed by sourcing intermediaries. The purchasing and supply chain management literature, including the part of it concerned with supply risk, pays little attention to sourcing intermediaries....... But the fields of marketing and international business have investigated the intermediary including its high supply risk reducing potentials, suggesting that this supply chain entity may be highly relevant to supply risk management. In order to get a better understanding of the supply risk reducing properties...... of sourcing intermediaries, we perform a study of the Danish clothing industry. The study incorporate interviews across a range of functions and companies in this industry including retailers, producers, suppliers, and various types of intermediaries. We contribute by coupling the supply risk management...

  9. Models for assessing and managing credit risk

    Directory of Open Access Journals (Sweden)

    Neogradi Slađana

    2014-01-01

    Full Text Available This essay deals with the definition of a model for assessing and managing credit risk. Risk is an inseparable component of any average and normal credit transaction. Looking at the different aspects of the identification and classification of risk in the banking industry as well as representation of the key components of modern risk management. In the first part of the essay will analyze how the impact of credit risk on bank and empirical models for determining the financial difficulties in which the company can be found. Bank on the basis of these models can reduce number of approved risk assets. In the second part, we consider models for improving credit risk with emphasis on Basel I, II and III, and the third part, we conclude that the most appropriate model and gives the best effect for measuring credit risk in domestic banks.

  10. 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.

  11. [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.

  12. Managing Entrepreneurial Risks under Conditions of Instability of Economic Environment

    Directory of Open Access Journals (Sweden)

    Miroshnichenko Yurii V.

    2013-12-01

    Full Text Available The article analyses the state of an organisation under modern conditions of establishment of new competitive relations between subjects of economic activity and transition to the model of market economy, justifies urgency of studies devoted to methods of entrepreneurial risk management. The article analyses factors that influence the risk level and offers own definition of this category. The article sets the task of improvement of the systemised classification of entrepreneurial risk management methods. In the result of the conducted analysis, the authors offered an improved systemised classification of risk management methods and justifies efficiency of its use.

  13. 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.

  14. 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.

  15. A GIS-based multicriteria evaluation for aiding risk management Pinus pinaster Ait. forests: a case study in Corsican Island, western Mediterranean Region.

    Science.gov (United States)

    Pasqualini, Vanina; Oberti, Pascal; Vigetta, Stéphanie; Riffard, Olivier; Panaïotis, Christophe; Cannac, Magali; Ferrat, Lila

    2011-07-01

    Forest management can benefit from decision support tools, including GIS-based multicriteria decision-aiding approach. In the Mediterranean region, Pinus pinaster forests play a very important role in biodiversity conservation and offer many socioeconomic benefits. However, the conservation of this species is affected by the increase in forest fires and the expansion of Matsucoccus feytaudi. This paper proposes a methodology based on commonly available data for assessing the values and risks of P. pinaster forests and to generating maps to aid in decisions pertaining to fire and phytosanitary risk management. The criteria for assessing the values (land cover type, legislative tools for biodiversity conservation, environmental tourist sites and access routes, and timber yield) and the risks (fire and phytosanitation) of P. pinaster forests were obtained directly or by considering specific indicators, and they were subsequently aggregated by means of GIS-based multicriteria analysis. This approach was tested on the island of Corsica (France), and maps to aid in decisions pertaining to fire risk and phytosanitary risk (M. feytaudi) were obtained for P. pinaster forest management. Study results are used by the technical offices of the local administration-Corsican Agricultural and Rural Development Agency (ODARC)-for planning the conservation of P. pinaster forests with regard to fire prevention and safety and phytosanitary risks. The decision maker took part in the evaluation criteria study (weight, normalization, and classification of the values). Most suitable locations are given to target the public intervention. The methodology presented in this paper could be applied to other species and in other Mediterranean regions.

  16. A GIS-Based Multicriteria Evaluation for Aiding Risk Management Pinus pinaster Ait. Forests: A Case Study in Corsican Island, Western Mediterranean Region

    Science.gov (United States)

    Pasqualini, Vanina; Oberti, Pascal; Vigetta, Stéphanie; Riffard, Olivier; Panaïotis, Christophe; Cannac, Magali; Ferrat, Lila

    2011-07-01

    Forest management can benefit from decision support tools, including GIS-based multicriteria decision-aiding approach. In the Mediterranean region, Pinus pinaster forests play a very important role in biodiversity conservation and offer many socioeconomic benefits. However, the conservation of this species is affected by the increase in forest fires and the expansion of Matsucoccus feytaudi. This paper proposes a methodology based on commonly available data for assessing the values and risks of P. pinaster forests and to generating maps to aid in decisions pertaining to fire and phytosanitary risk management. The criteria for assessing the values (land cover type, legislative tools for biodiversity conservation, environmental tourist sites and access routes, and timber yield) and the risks (fire and phytosanitation) of P. pinaster forests were obtained directly or by considering specific indicators, and they were subsequently aggregated by means of GIS-based multicriteria analysis. This approach was tested on the island of Corsica (France), and maps to aid in decisions pertaining to fire risk and phytosanitary risk ( M. feytaudi) were obtained for P. pinaster forest management. Study results are used by the technical offices of the local administration— Corsican Agricultural and Rural Development Agency (ODARC)—for planning the conservation of P. pinaster forests with regard to fire prevention and safety and phytosanitary risks. The decision maker took part in the evaluation criteria study (weight, normalization, and classification of the values). Most suitable locations are given to target the public intervention. The methodology presented in this paper could be applied to other species and in other Mediterranean regions.

  17. 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.

  18. The Strategic-Renovation Banks’ Risks Management

    Directory of Open Access Journals (Sweden)

    Yeremeychuk Raisa A.

    2017-04-01

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

  19. 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...

  20. Risk management; Maitriser le risque

    Energy Technology Data Exchange (ETDEWEB)

    Magne, L

    1999-07-01

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

  1. Managers facing the climatic risks

    International Nuclear Information System (INIS)

    2003-01-01

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

  2. Risk management and safety culture

    International Nuclear Information System (INIS)

    Takano, K.

    2007-01-01

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

  3. Credit risk management in the power sector

    International Nuclear Information System (INIS)

    Allen, D.

    2002-01-01

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

  4. Risk management in the construction industry: a new literature review

    Directory of Open Access Journals (Sweden)

    Renault Berenger Y.

    2016-01-01

    Full Text Available The construction industry is well known as a highly risk prone industry owing to the complexity of its activities and dynamic project environments generating an atmosphere of risks that must be taken into consideration in the decision process. For this reason, we have developed this treatise to elucidate the fundamentals of risk management through a concise new proposal of literature review for risk management in construction. Our explanation of this is venture is that over the years, this area has been acknowledged as a crucial process in the business institutions and the most discussed subject among experts and researchers in the construction sector. We have tried in this report to present the most recent studies considering the impossibility to present all definitions of the concept of risk. This study is mainly a literature review; it looks at the literature relating to the concept of risk, risk management in construction as well as methods used in construction industry.

  5. Risk management in Swedish hedge funds

    OpenAIRE

    Fri, Samuel; Nilsson, Joakim

    2011-01-01

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

  6. Evaluating risk management strategies in resource planning

    International Nuclear Information System (INIS)

    Andrews, C.J.

    1995-01-01

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

  7. The formation of a risk management system for projects in the field of aquaculture innovative development in the Kaliningrad region: a case study

    Directory of Open Access Journals (Sweden)

    Serbulov Alexey

    2012-03-01

    Full Text Available This article sets out to develop the concept and the principal scheme of the formation of a risk management system for innovative economic development projects in the field of aquaculture. The research carried out by the authors helps identify the main problems and characteristics of risk management projects for the development of aquaculture in presentday Russia. The authors outline the status and features of aquaculture development projects in the North-western federal district and the Kaliningrad region. The article formulates and justifies the concept of “risk management projects in innovative development of aquaculture in the region” focusing on the classification of aquaculture risks in relation to innovative development projects, which expands the conceptual framework of risk management in view of the specific risks relating to economic development projects in the field of aquaculture. The authors characterize modern methods and approaches to risk management projects and organizations in the context of their application in the framework of aquaculture development projects and offer mechanisms for risk management of aquaculture development projects, which make it possible to include risk management activity in the general context of activities of parent project organizations. The authors develop the concept and principal scheme of the formation of risk management system for innovative development projects in aquaculture.

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

    OpenAIRE

    Valentin Mazareanu

    2007-01-01

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

  9. 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

  10. 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.

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

    African Journals Online (AJOL)

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

  12. Managing employee well-being: A qualitative study exploring job and personal resources of at-risk employees

    Directory of Open Access Journals (Sweden)

    Cecile Gauche

    2017-11-01

    Full Text Available Orientation: Job and personal resources influence the well-being of employees. Currently, limited information exists in literature surrounding the experience of these resources in employees identified as at-risk of burnout. Research purpose: To investigate the experience of job and personal resources from the perspectives of employees identified as at-risk of burnout. Motivation for the study: Empirical evidence on the integrative role and influence of job and personal resources on the well-being of employees in the South African context is currently limited. Attaining a better understanding of the manner in which at-risk employees experience resources can empower organisations to actively work towards creating an environment that allows for optimal employee well-being. Research design, approach and method: A phenomenological approach was taken to conduct the study in a South African-based financial services organisation. A combination of purposive and convenience sampling was used, and 26 employees agreed to participate. Semi-structured interviews were used to collect data, and data analysis was performed through the use of thematic analysis. Main findings: Employees identified as at-risk of burnout acknowledged both job and personal resources as factors influencing their well-being. Participants in this study elaborated on received job resources as well as lacking job resources. Information was also shared by participants on personal resources through describing used personal resources as well as lacking personal resources. Practical/managerial implications: Knowledge gained from the study will contribute to empower organisations to better understand the impact of resources on the well-being of employees, and allow organisations to adapt workplace resources to ensure adequate and appropriate resources to facilitate optimal employee well-being. Contribution: This study contributes to the limited research available in the South African context

  13. 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.

  14. An integrated environmental risk assessment and management framework for enhancing the sustainability of marine protected areas: the Cape d'Aguilar Marine Reserve case study in Hong Kong.

    Science.gov (United States)

    Xu, Elvis G B; Leung, Kenneth M Y; Morton, Brian; Lee, Joseph H W

    2015-02-01

    Marine protected areas (MPAs), such as marine parks and reserves, contain natural resources of immense value to the environment and mankind. Since MPAs may be situated in close proximity to urbanized areas and influenced by anthropogenic activities (e.g. continuous discharges of contaminated waters), the marine organisms contained in such waters are probably at risk. This study aimed at developing an integrated environmental risk assessment and management (IERAM) framework for enhancing the sustainability of such MPAs. The IERAM framework integrates conventional environmental risk assessment methods with a multi-layer-DPSIR (Driver-Pressure-State-Impact-Response) conceptual approach, which can simplify the complex issues embraced by environmental management strategies and provide logical and concise management information. The IERAM process can generate a useful database, offer timely update on the status of MPAs, and assist in the prioritization of management options. We use the Cape d'Aguilar Marine Reserve in Hong Kong as an example to illustrate the IERAM framework. A comprehensive set of indicators were selected, aggregated and analyzed using this framework. Effects of management practices and programs were also assessed by comparing the temporal distributions of these indicators over a certain timeframe. Based on the obtained results, we have identified the most significant components for safeguarding the integrity of the marine reserve, and indicated the existing information gaps concerned with the management of the reserve. Apart from assessing the MPA's present condition, a successful implementation of the IERAM framework as evocated here would also facilitate better-informed decision-making and, hence, indirectly enhance the protection and conservation of the MPA's marine biodiversity. Copyright © 2014 Elsevier B.V. All rights reserved.

  15. Risk Preferences, Probability Weighting, and Strategy Tradeoffs in Wildfire Management.

    Science.gov (United States)

    Hand, Michael S; Wibbenmeyer, Matthew J; Calkin, David E; Thompson, Matthew P

    2015-10-01

    Wildfires present a complex applied risk management environment, but relatively little attention has been paid to behavioral and cognitive responses to risk among public agency wildfire managers. This study investigates responses to risk, including probability weighting and risk aversion, in a wildfire management context using a survey-based experiment administered to federal wildfire managers. Respondents were presented with a multiattribute lottery-choice experiment where each lottery is defined by three outcome attributes: expenditures for fire suppression, damage to private property, and exposure of firefighters to the risk of aviation-related fatalities. Respondents choose one of two strategies, each of which includes "good" (low cost/low damage) and "bad" (high cost/high damage) outcomes that occur with varying probabilities. The choice task also incorporates an information framing experiment to test whether information about fatality risk to firefighters alters managers' responses to risk. Results suggest that managers exhibit risk aversion and nonlinear probability weighting, which can result in choices that do not minimize expected expenditures, property damage, or firefighter exposure. Information framing tends to result in choices that reduce the risk of aviation fatalities, but exacerbates nonlinear probability weighting. © 2015 Society for Risk Analysis.

  16. Improving the System of Risk Management in Ukrainian Banks

    Directory of Open Access Journals (Sweden)

    Skasko Oleh I.

    2014-01-01

    Full Text Available The goal of the article lies in the study of evolution of formation of the risk management system in Ukrainian banks, main instruments, methods of risk management and organisational approaches to formation of subdivisions of risk management and corporate management in banks. Analysing recommendations of the Basel Committee on Banking Supervision, legislative and regulatory acts, which form organisational and methodological requirements by risk management in banks, the article reveals shortcomings of its functioning. The article gives proposals on improvement of riskology in Ukrainian banks, namely: introduction of the requirement for risk assessment and stress testing by banks in the medium-term prospective (up to 3 years, which would reveal risks of realisation of long-term bank programmes, potential losses of receipts and capital due to existing gaps between the terms of performance of obligations by assets and liabilities, etc. In the result of the study the article establishes that in order to realise requirements of the Basel Committee on Banking Supervision on organisation of subdivisions of risk management in banks, it is necessary to introduce qualification requirements to managers of these services and procedures of their assignment/retirement in co-ordination with the banking supervision service, the status of which in the bank is not lower than managers of the internal audit and financial monitoring services, assignment of whom should be mandatory co-ordinated with NBU.

  17. The management of risk to society from potential accidents

    International Nuclear Information System (INIS)

    Allen, F.R.; Garlick, A.R.; Hayns, M.R.; Taig, A.R.

    1992-01-01

    The main report of the United Kingdom Atomic Energy Authority (UKAEA) Working Group on Risks to Society from Potential Major Accidents is presented. It is the outcome of a study by AEA Technology, the trading name of the UKAEA, in support of its own decision-making on risk management of the nuclear plants and laboratories it controls. The principles underlying decisions on social risk are of much broader applicability, however. The report is prefaced by an Executive Summary which is intended to be a stand-alone summary of the results of the study. The topics covered include: an examination of the nature of risk; the distinction to be drawn between individual and societal risk; existing risks; risk estimation; goals and targets as defined in terms of acceptance, tolerability and comparison between risks; regulations relating to risk targets; risk management decisions in theory and practice; societal risk management. A final chapter brings together the conclusions and recommendations from the preceding nine with respect to risk estimation, evaluation, management and overall approach. Two appendices deal with cost benefit analysis and provide a glossary and acronyms. (UK)

  18. Aversion to ambiguity and willingness to take risks affect therapeutic decisions in managing atrial fibrillation for stroke prevention: results of a pilot study in family physicians

    Directory of Open Access Journals (Sweden)

    Raptis S

    2017-09-01

    Full Text Available Stavroula Raptis,1,* Jia Ning Chen,2,* Florencia Saposnik,2 Roman Pelyavskyy,2 Andrew Liuni,3 Gustavo Saposnik2,4 On behalf of the Stroke Outcomes Research Canada Working Group (SORCan- www.sorcan.ca 1Applied Health Research Centre, Li Ka Shing Knowledge Institute, 2Stroke Outcomes and Decision Neuroscience Research Unit, Department of Medicine, St. Michael’s Hospital, University of Toronto, Toronto, 3Medical Department, Boehringer Ingelheim (Canada Ltd., Burlington, ON, Canada; 4Neuroeconomics and Decision Neuroscience, Department of Economics, University of Zurich, Zurich, Switzerland *These authors contributed equally to this work Background: Anticoagulation is the therapeutic paradigm for stroke prevention in patients with atrial fibrillation (AF. It is unknown how physicians make treatment decisions in primary stroke prevention for patients with AF. Objectives: To evaluate the association between family physicians’ risk preferences (aversion risk and ambiguity and therapeutic recommendations (anticoagulation in the management of AF for primary stroke prevention by applying concepts from behavioral economics. Methods: Overall, 73 family physicians participated and completed the study. Our study comprised seven simulated case vignettes, three behavioral experiments, and two validated surveys. Behavioral experiments and surveys incorporated an economic framework to determine risk preferences and biases (e.g., ambiguity aversion, willingness to take risks. The primary outcome was making the correct decision of anticoagulation therapy. Secondary outcomes included medical errors in the management of AF for stroke prevention. Results: Overall, 23.3% (17/73 of the family physicians elected not to escalate the therapy from antiplatelets to anticoagulation when recommended by best practice guidelines. A total of 67.1% of physicians selected the correct therapeutic options in two or more of the three simulated case vignettes. Multivariate

  19. The connection between long-term and short-term risk management strategies for flood and landslide hazards: examples from land-use planning and emergency management in four European case studies

    Science.gov (United States)

    Prenger-Berninghoff, K.; Cortes, V. J.; Sprague, T.; Aye, Z. C.; Greiving, S.; Głowacki, W.; Sterlacchini, S.

    2014-12-01

    Adaptation to complex and unforeseen events requires enhancing the links between planning and preparedness phases to reduce future risks in the most efficient way. In this context, the legal-administrative and cultural context has to be taken into account. This is why four case study areas of the CHANGES1 project (Nehoiu Valley in Romania, Ubaye Valley in France, Val Canale in Italy, and Wieprzówka catchment in Poland) serve as examples to highlight currently implemented risk management strategies for land-use planning and emergency preparedness. The focus is particularly on flood and landslide hazards. The strategies described in this paper were identified by means of exploratory and informal interviews in each study site. Results reveal that a dearth or, in very few cases, a weak link exists between spatial planners and emergency managers. Management strategies could benefit from formally intensifying coordination and cooperation between emergency services and spatial planning authorities. Moreover, limited financial funds urge for a more efficient use of resources and better coordination towards long-term activities. The research indicates potential benefits to establishing or, in some cases, strengthening this link through contextual changes, e.g., in organizational or administrative structures, that facilitate proper interaction between risk management and spatial planning. It also provides suggestions for further development in the form of information and decision support systems as a key connection point. 1 Marie Curie ITN CHANGES - Changing Hydro-meteorological Risks as Analyzed by a New Generation of European Scientists

  20. 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