WorldWideScience

Sample records for risk-management information volume

  1. 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.

  2. 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...

  3. 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…

  4. 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.

  5. FLIGHTFAX: Army Aviation Risk-Management Information, July 2001. Volume 29, Number 7

    National Research Council Canada - National Science Library

    2001-01-01

    Flightfax is published by the U.S. Army Safety Center, Fort Rucker, AL. Information is for accident-prevention purposes only and is specifically prohibited for use for punitive purposes or matters of liability, litigation, or competition...

  6. Information risk management a practitioner's guide

    CERN Document Server

    Sutton, David

    2014-01-01

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

  7. Information needs for risk management/communication

    Energy Technology Data Exchange (ETDEWEB)

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

    1990-12-31

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

  8. Information technology project risk management in Peru

    OpenAIRE

    Del Carpio Gallegos, Javier

    2014-01-01

    This article shows how some principles, uses, and practices of risk management are applied in information technology projects in Peru; in the last four years, in representative sectors like manufacturing, banking, information and communications, academics institutions, construction, government, consulting, services, and others. El presente artículo muestra algunos principios, usos y prácticas de cómo la gestión de riesgos de proyectos de tecnología se ha llevado a cabo en los últimos cuatr...

  9. 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.

  10. RISK MANAGEMENT FROM THE INFORMATION SECURITY PERSPECTIVE

    Directory of Open Access Journals (Sweden)

    Riza Ionuț

    2017-11-01

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

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

    Science.gov (United States)

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

    2017-11-01

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

  12. 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. 

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

    DEFF Research Database (Denmark)

    Qin, Jianjun; Faber, Michael Havbro

    2012-01-01

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

  14. Information security risk management and incompatible parts of organization

    Directory of Open Access Journals (Sweden)

    Elham Talabeigi

    2016-11-01

    Full Text Available Purpose: we prepared a questionnaire to evaluate Incompatible parts and also risk management in University of Science and Technology E-Learning Center and studying the Incompatible parts impacts on utility of organization. Design/methodology/approach: By using coalitional game theory we present a new model to recognize the degrees of incompatibility among independent divisions of an organization with dependent security assets. Based on positive and negative interdependencies in the parts, the model provides how the organization can decrease the security risks through non-cooperation rather than cooperation. we implement the proposed model of this paper by analyzing the data which have been provided by questionnaires from different three managers' ideas of Iran University of Science and Technology E-Learning Center located in Iran University of Science and Technology, Tehran, Iran. Findings: In general, by collecting data and analyzing them, the survey showed that Incompatible parts of organizations have negative impacts on utility of organization risk management process. Furthermore, it adds values to other organizations and provides the best practices in planning, developing, implementing and monitoring risk management in organizations. Research limitations/implications: Since Information security and also Risk Management are still areas which need to improve in some Iranian universities, we couldn’t consider them in our analysis. On the other hand, due to questionnaire limitation, the study’s sample size is 1. This size may be considered large for our statistical analysis. Originality/value:  The main contribution of this paper is to propose a model for non-cooperation among a number of divisions in a organization and using risk management factors.

  15. Information security risk management and incompatible parts of organization

    Energy Technology Data Exchange (ETDEWEB)

    Talabeigi, E.; Naeeini, S.G.J.

    2016-07-01

    Purpose: we prepared a questionnaire to evaluate Incompatible parts and also risk management in University of Science and Technology E-Learning Center and studying the Incompatible parts impacts on utility of organization. Design/methodology/approach: By using coalitional game theory we present a new model to recognize the degrees of incompatibility among independent divisions of an organization with dependent security assets. Based on positive and negative interdependencies in the parts, the model provides how the organization can decrease the security risks through non-cooperation rather than cooperation. we implement the proposed model of this paper by analyzing the data which have been provided by questionnaires from different three managers' ideas of Iran University of Science and Technology E-Learning Center located in Iran University of Science and Technology, Tehran, Iran. Findings: In general, by collecting data and analyzing them, the survey showed that Incompatible parts of organizations have negative impacts on utility of organization risk management process. Furthermore, it adds values to other organizations and provides the best practices in planning, developing, implementing and monitoring risk management in organizations. Research limitations/implications: Since Information security and also Risk Management are still areas which need to improve in some Iranian universities, we couldn’t consider them in our analysis. On the other hand, due to questionnaire limitation, the study’s sample size is 1. This size may be considered large for our statistical analysis. Originality/value: The main contribution of this paper is to propose a model for non-cooperation among a number of divisions in a organization and using risk management factors.

  16. Information security risk management and incompatible parts of organization

    International Nuclear Information System (INIS)

    Talabeigi, E.; Naeeini, S.G.J.

    2016-01-01

    Purpose: we prepared a questionnaire to evaluate Incompatible parts and also risk management in University of Science and Technology E-Learning Center and studying the Incompatible parts impacts on utility of organization. Design/methodology/approach: By using coalitional game theory we present a new model to recognize the degrees of incompatibility among independent divisions of an organization with dependent security assets. Based on positive and negative interdependencies in the parts, the model provides how the organization can decrease the security risks through non-cooperation rather than cooperation. we implement the proposed model of this paper by analyzing the data which have been provided by questionnaires from different three managers' ideas of Iran University of Science and Technology E-Learning Center located in Iran University of Science and Technology, Tehran, Iran. Findings: In general, by collecting data and analyzing them, the survey showed that Incompatible parts of organizations have negative impacts on utility of organization risk management process. Furthermore, it adds values to other organizations and provides the best practices in planning, developing, implementing and monitoring risk management in organizations. Research limitations/implications: Since Information security and also Risk Management are still areas which need to improve in some Iranian universities, we couldn’t consider them in our analysis. On the other hand, due to questionnaire limitation, the study’s sample size is 1. This size may be considered large for our statistical analysis. Originality/value: The main contribution of this paper is to propose a model for non-cooperation among a number of divisions in a organization and using risk management factors.

  17. Connecting Hazard Analysts and Risk Managers to Sensor Information.

    Science.gov (United States)

    Le Cozannet, Gonéri; Hosford, Steven; Douglas, John; Serrano, Jean-Jacques; Coraboeuf, Damien; Comte, Jérémie

    2008-06-11

    Hazard analysts and risk managers of natural perils, such as earthquakes, landslides and floods, need to access information from sensor networks surveying their regions of interest. However, currently information about these networks is difficult to obtain and is available in varying formats, thereby restricting accesses and consequently possibly leading to decision-making based on limited information. As a response to this issue, state-of-the-art interoperable catalogues are being currently developed within the framework of the Group on Earth Observations (GEO) workplan. This article provides an overview of the prototype catalogue that was developed to improve access to information about the sensor networks surveying geological hazards (geohazards), such as earthquakes, landslides and volcanoes.

  18. Risk management in methodologies of information technology and communications projects

    Directory of Open Access Journals (Sweden)

    Jonathan Carrillo

    2013-12-01

    Full Text Available (Received: 2013/10/02 - Accepted: 2013/12/13At present there are methodologies that have several alternatives and methods to manage projects of Information and Communication Technologies. However, these do not cover a solution for the technology events that can occur in the industry, government, education, among others. In the technology market there are several models to identify and analyze risks according to relevant aspects of their area of specialty e.g. projects, in software development, communications, information security and business alignment. For this reason, this research conducted an evaluation of risk management activities of the methodologies used mostly to know which of them includes more correspondence with basic elements of IT using a rating scale.

  19. 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…

  20. Can systematic reviews inform GMO risk assessment and risk management?

    Directory of Open Access Journals (Sweden)

    Christian eKohl

    2015-08-01

    Full Text Available Systematic reviews represent powerful tools to identify, collect, synthesize and evaluate primary research data on specific research questions in a highly standardized and reproducible manner. They enable the defensible synthesis of outcomes by increasing precision and minimizing bias whilst ensuring transparency of the methods used. This makes them especially valuable to inform evidence-based risk analysis and decision making in various topics and research disciplines. Although seen as a gold standard for synthesizing primary research data, systematic reviews are not without limitations as they are often cost, labor and time intensive and the utility of synthesis outcomes depends upon the availability of sufficient and robust primary research data. In this paper we 1 consider the added value systematic reviews could provide when synthesizing primary research data on genetically modified organisms (GMO and 2 critically assess the adequacy and feasibility of systematic review for collating and analyzing data on potential impacts of GMOs in order to better inform specific steps within GMO risk assessment and risk management. The regulatory framework of the EU is used as an example, although the issues we discuss are likely to be more widely applicable.

  1. Can Systematic Reviews Inform GMO Risk Assessment and Risk Management?

    Science.gov (United States)

    Kohl, Christian; Frampton, Geoff; Sweet, Jeremy; Spök, Armin; Haddaway, Neal Robert; Wilhelm, Ralf; Unger, Stefan; Schiemann, Joachim

    2015-01-01

    Systematic reviews represent powerful tools to identify, collect, synthesize, and evaluate primary research data on specific research questions in a highly standardized and reproducible manner. They enable the defensible synthesis of outcomes by increasing precision and minimizing bias whilst ensuring transparency of the methods used. This makes them especially valuable to inform evidence-based risk analysis and decision making in various topics and research disciplines. Although seen as a "gold standard" for synthesizing primary research data, systematic reviews are not without limitations as they are often cost, labor and time intensive and the utility of synthesis outcomes depends upon the availability of sufficient and robust primary research data. In this paper, we (1) consider the added value systematic reviews could provide when synthesizing primary research data on genetically modified organisms (GMO) and (2) critically assess the adequacy and feasibility of systematic review for collating and analyzing data on potential impacts of GMOs in order to better inform specific steps within GMO risk assessment and risk management. The regulatory framework of the EU is used as an example, although the issues we discuss are likely to be more widely applicable.

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

    Science.gov (United States)

    Treuer, G.; Bolson, J.

    2013-12-01

    will not occur until a major hurricane hits the region, despite the cost effectiveness of preemptive interventions. It is assumed that after a hurricane the political risks will shift. New policies will be tried and new infrastructure will be built. Many municipalities and agencies are creating "shovel ready" plans in advance to take advantage of post-catastrophe funds. How do the design of these plans reflect perceptions of legal and political risk? Will they do a good job of reducing scientific risk by addressing long term physical threats? In this study we identify specific challenges to climate adaptation in Florida and explore how local and regional water management decision makers balance physical, legal, and political risks in their planning. A primary risk management tool is the strategic use of information. Through targeted interviews with stakeholders we identify key information gatekeepers and their strategies for reducing multiple types of risk.

  3. 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.

  4. 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

  5. Trust-Based Information Risk Management in a Supply Chain Network

    OpenAIRE

    Yanjun Zuo; Wen-Chen Hu

    2009-01-01

    Information risk management is crucial for an organization operating in an increasingly integrated and intensively communicated environment to mitigate risks and ensure core business functions. Given the open and dynamic nature of a supply chain network, information risk management is challenging and various factors must be considered. This article introduces a trust-based approach to facilitate supply chain participants to perform effective risk management. The major components of the propos...

  6. Information Risk Management: Qualitative or Quantitative? Cross industry lessons from medical and financial fields

    Directory of Open Access Journals (Sweden)

    Upasna Saluja

    2012-06-01

    Full Text Available Enterprises across the world are taking a hard look at their risk management practices. A number of qualitative and quantitative models and approaches are employed by risk practitioners to keep risk under check. As a norm most organizations end up choosing the more flexible, easier to deploy and customize qualitative models of risk assessment. In practice one sees that such models often call upon the practitioners to make qualitative judgments on a relative rating scale which brings in considerable room for errors, biases and subjectivity. On the other hand under the quantitative risk analysis approach, estimation of risk is connected with application of numerical measures of some kind. Medical risk management models lend themselves as ideal candidates for deriving lessons for Information Security Risk Management. We can use this considerably developed understanding of risk management from the medical field especially Survival Analysis towards handling risks that information infrastructures face. Similarly, financial risk management discipline prides itself on perhaps the most quantifiable of models in risk management. Market Risk and Credit Risk Information Security Risk Management can make risk measurement more objective and quantitative by referring to the approach of Credit Risk. During the recent financial crisis many investors and financial institutions lost money or went bankrupt respectively, because they did not apply the basic principles of risk management. Learning from the financial crisis provides some valuable lessons for information risk management.

  7. Risk Management and Intangibles: The Role of Information in Customer Acquisition and Evaluation of Intangibles

    Science.gov (United States)

    Alirezazadeh, Pantea

    2012-01-01

    This dissertation consists of three separate essays shaping around decision making and risk management in the presence of intangibles. More specifically I study the risk management aspect of information acquisition and the role of information signaling in communicating the value of intangible assets. Intangible asset has proved to be a…

  8. Use of climate information for drought risk management in Mexico

    Science.gov (United States)

    Neri, C.; Magaña Rueda, V.

    2013-05-01

    climate diagnosis and forecast. A preventive response to drought may be defined if the severity and duration surpass a threshold value after which a decision action should be made. In order to establish the relevance of indicators for drought risk management, retroactive analyses have been developed considering Sonora case. The potential impact of such system is examined considering a number of actions that may be implemented in the water, agricultural and cattle ranching sectors. We conclude that there are great opportunities to reduce the negative impacts of drought if climate information is used. This proposal is part of a project to go from a response to the disaster practice to a prevention policy with the Mexican government and stakeholders. An early warning to face drought may alleviate the difficulties for several sectors in the semiarid regions of Mexico and prepare various socioeconomic sectors to face the potential impacts of climate change.

  9. Information security risk management and incompatible parts of organization

    OpenAIRE

    Talabeigi, Elham; Naeeini, Seyyed Gholamreza Jalali

    2016-01-01

    Purpose: we prepared a questionnaire to evaluate Incompatible parts and also risk management in University of Science and Technology E-Learning Center and studying the Incompatible parts impacts on utility of organization. Design/methodology/approach: By using coalitional game theory we present a new model to recognize the degrees of incompatibility among independent divisions of an organization with dependent security assets. Based on positive and negative interdependencies in...

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

    Science.gov (United States)

    Zhu, Wenmin; Jia, Yuanhua

    2018-01-01

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

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

    OpenAIRE

    Azhar Susanto

    2017-01-01

    Business process and risk management are factors which can improve the quality of accounting information systems. In Indonesia this phenomenon happens in many organizations showing that there is disintegrated accounting information systems which then causes unqualified accounting information. This research was carried out in order to find out fact through examination presenting in the influence of business process and risk management towards accounting information system. Data used in this re...

  12. Supporting the information domains of fall-risk management in home care via health information technology.

    Science.gov (United States)

    Alhuwail, Dari; Koru, Güneş; Mills, Mary Etta

    2016-01-01

    In the United States, home care clinicians often start the episode of care devoid of relevant fall-risk information. By collecting and analyzing qualitative data from 30 clinicians in one home health agency, this case study aimed to understand how the currently adopted information technology solutions supported the clinicians' fall-risk management (FRM) information domains, and explored opportunities to adopt other solutions to better support FRM. The currently adopted electronic health record system and fall-reporting application served only some information domains with a limited capacity. Substantial improvement in addressing the FRM information domains is possible by effectively modifying the existing solutions and purposefully adopting new solutions.

  13. A Bibliometric Review on Risk Management and Building Information Modeling for International Construction

    OpenAIRE

    Ganbat, Tsenguun; Chong, Heap-Yih; Liao, Pin-Chao; Wu, You-Di

    2018-01-01

    International construction is complicated and involves high risks. However, with the development of technological innovation, Building Information Modeling (BIM) emerged and seems to be able to address certain risks. To understand BIM applications in risk management for international construction, a state-of-the-art review is required. Therefore, this paper aims to identify the research trends and opportunities for risk management in BIM-enabled international construction by reviewing 526 pee...

  14. Information Security for Business: the Necessity of Reputational Risk Management

    Directory of Open Access Journals (Sweden)

    Vitaly Eduardovich Dorokhov

    2015-06-01

    Full Text Available The article presents the analysis of actual information security problems in commercial segment. The main directions in regulations of the Russian Federation connected with information security assurance are defined. The results indicate the insufficiency of legal regulation in prevention of reputational losses due to information security incidents

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

    Directory of Open Access Journals (Sweden)

    Azhar Susanto

    2017-09-01

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

  16. Experimental climate information services in support of risk management

    Science.gov (United States)

    Webb, R. S.; Pulwarty, R. S.; Davidson, M. A.; Shea, E. E.; Nierenberg, C.; Dole, R. M.

    2009-12-01

    Climate variability and change impact national and local economies and environments. Developing and communicating climate and climate impacts information to inform decision making requires an understanding of context, societal objectives, and identification of factors important to the management of risk. Information sensitive to changing baselines or extremes is a critical emergent need. Meeting this need requires timely production and delivery of useful climate data, information and knowledge within familiar pathways. We identify key attributes for a climate service , and the network and infrastructure to develop and coordinate the resulting services based on lessons learned in experimental implementations of climate services. "Service-type" activities already exist in many settings within federal, state, academic, and private sectors. The challenge for a climate service is to find effective implementation strategies for improving decision quality (not just meeting user needs). These strategies include upfront infrastructure investments, learning from event to event, coordinated innovation and diffusion, and highlighting common adaptation interests. Common to these strategies is the production of reliable and accessible data, analyses of emergent conditions and needs, and deliberative processes to identify appropriate entry points and uses for improved knowledge. Experimental climate services show that the development of well-structured paths among observations, projections, risk assessments and usable information requires sustained participation in “knowledge management systems” for early warning across temporal and spatial scales. Central to these systems is a collaborative framework between research and management to ensure anticipatory coordination between decision makers and information providers, allowing for emerging research findings and their attendant uncertainties to be considered. Early warnings in this context are not simply forecasts or

  17. Information security risk management for ISO27001/ISO27002

    CERN Document Server

    Calder, A; Watkins, S

    2010-01-01

    Drawing on international best practice, including ISO/IEC 27005, NIST SP800-30 and BS7799-3, the book explains in practical detail how to carry out an information security risk assessment. It covers key topics, such as risk scales, threats and vulnerabilities, selection of controls, and roles and responsibilities, and includes advice on choosing risk assessment software.

  18. Background risk information to assist in risk management decision making

    International Nuclear Information System (INIS)

    Hammonds, J.S.; Hoffman, F.O.; White, R.K.; Miller, D.B.

    1992-10-01

    The evaluation of the need for remedial activities at hazardous waste sites requires quantification of risks of adverse health effects to humans and the ecosystem resulting from the presence of chemical and radioactive substances at these sites. The health risks from exposure to these substances are in addition to risks encountered because of the virtually unavoidable exposure to naturally occurring chemicals and radioactive materials that are present in air, water, soil, building materials, and food products. To provide a frame of reference for interpreting risks quantified for hazardous waste sites, it is useful to identify the relative magnitude of risks of both a voluntary and involuntary nature that are ubiquitous throughout east Tennessee. In addition to discussing risks from the ubiquitous presence of background carcinogens in the east Tennessee environment, this report also presents risks resulting from common, everyday activities. Such information should, not be used to discount or trivialize risks from hazardous waste contamination, but rather, to create a sensitivity to general risk issues, thus providing a context for better interpretation of risk information

  19. Reviews of Geospatial Information Technology and Collaborative Data Delivery for Disaster Risk Management

    Directory of Open Access Journals (Sweden)

    Hiroyuki Miyazaki

    2015-09-01

    Full Text Available Due to the fact that geospatial information technology is considered necessary for disaster risk management (DRM, the need for more effective collaborations between providers and end users in data delivery is increasing. This paper reviews the following: (i schemes of disaster risk management and collaborative data operation in DRM; (ii geospatial information technology in terms of applications to the schemes reviewed; and (iii ongoing practices of collaborative data delivery with the schemes reviewed. This paper concludes by discussing the future of collaborative data delivery and the progress of the technologies.

  20. The implications of risk management information systems for the organization of financial firms

    OpenAIRE

    Michael S. Gibson

    1998-01-01

    Financial dealer firms have invested heavily in recent years to develop information systems for risk measurement. I take it as given that technological progress is likely to continue at a rapid pace, making it less expensive for financial firms to assemble risk information. I look beyond questions of risk measurement methodology to investigate the implications of risk management information systems. By examining several theoretical models of the firm in the presence of asymmetric information,...

  1. Integrating risk management and safety culture in a framework for risk informed decision making

    International Nuclear Information System (INIS)

    Nelson, W.R.

    2009-01-01

    Operators and regulators of nuclear power plants agree on the importance of maintaining safety and controlling accident risks. Effective safety and risk management requires treatment of both technical and organizational components. Probabilistic Risk Assessment (PRA) provides tools for technical risk management. However, organizational factors are not treated in PRA, but are addressed using different approaches. To bring both components together, a framework of Risk Informed Decision Making (RIDM) is needed. The objective tree structure of the International Atomic Energy Agency (IAEA) is a promising approach to combine both elements. Effective collaboration involving regulatory and industry groups is needed to accomplish the integration. (author)

  2. A Minimax Regret Analysis of Flood Risk Management Strategies Under Climate Change Uncertainty and Emerging Information

    NARCIS (Netherlands)

    Pol, van der T.D.; Gabbert, S.; Weikard, H.P.; Ierland, van E.C.; Hendrix, E.M.T.

    2017-01-01

    This paper studies the dynamic application of the minimax regret (MR) decision criterion to identify robust flood risk management strategies under climate change uncertainty and emerging information. An MR method is developed that uses multiple learning scenarios, for example about sea level rise

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

    NARCIS (Netherlands)

    van Cleeff, A.

    2010-01-01

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

  4. A Model for an Information Security Risk Management (ISRM) Framework for Saudi Arabian Organisations

    Science.gov (United States)

    Alshareef, Naser

    2016-01-01

    Countries in the Gulf represent thriving, globally important commercial centres. They have embraced technology and modern management methods, often originating in the western countries. In adapting to quite different cultures these do not always operate as successfully. The adoption and practices of the Information Security Risk Management (ISRM)…

  5. An Information Architect's View of Earth Observations for Disaster Risk Management

    Science.gov (United States)

    Moe, K.; Evans, J. D.; Cappelaere, P. G.; Frye, S. W.; Mandl, D.; Dobbs, K. E.

    2014-12-01

    Satellite observations play a significant role in supporting disaster response and risk management, however data complexity is a barrier to broader use especially by the public. In December 2013 the Committee on Earth Observation Satellites Working Group on Information Systems and Services documented a high-level reference model for the use of Earth observation satellites and associated products to support disaster risk management within the Global Earth Observation System of Systems context. The enterprise architecture identified the important role of user access to all key functions supporting situational awareness and decision-making. This paper focuses on the need to develop actionable information products from these Earth observations to simplify the discovery, access and use of tailored products. To this end, our team has developed an Open GeoSocial API proof-of-concept for GEOSS. We envision public access to mobile apps available on smart phones using common browsers where users can set up a profile and specify a region of interest for monitoring events such as floods and landslides. Information about susceptibility and weather forecasts about flood risks can be accessed. Users can generate geo-located information and photos of local events, and these can be shared on social media. The information architecture can address usability challenges to transform sensor data into actionable information, based on the terminology of the emergency management community responsible for informing the public. This paper describes the approach to collecting relevant material from the disasters and risk management community to address the end user needs for information. The resulting information architecture addresses the structural design of the shared information in the disasters and risk management enterprise. Key challenges are organizing and labeling information to support both online user communities and machine-to-machine processing for automated product generation.

  6. A Bibliometric Review on Risk Management and Building Information Modeling for International Construction

    Directory of Open Access Journals (Sweden)

    Tsenguun Ganbat

    2018-01-01

    Full Text Available International construction is complicated and involves high risks. However, with the development of technological innovation, Building Information Modeling (BIM emerged and seems to be able to address certain risks. To understand BIM applications in risk management for international construction, a state-of-the-art review is required. Therefore, this paper aims to identify the research trends and opportunities for risk management in BIM-enabled international construction by reviewing 526 peer-reviewed journal articles for the years 2007–2017. Thus five steps of bibliometric analysis were conducted based on the proposed frameworks of BIM risk management in international construction (BIM-RM-INTL. The results show that the popularization of BIM not only attracts all stakeholders’ interests but also brings some risks. For example, financial factors are hard to detect and control through BIM, information loss during transmission stands out, and BIM has no unified standards and regulations for international construction. The research has mapped existing research results and their relationships for future risk management in BIM-enabled international construction.

  7. Climate risk management information, sources and responses in a pastoral region in East Africa

    Directory of Open Access Journals (Sweden)

    Anthony Egeru

    2016-01-01

    Full Text Available Pastoralists in East Africa face a range of stressors, climate variability and change being one of them. Effective climate risk management involves managing the full range of variability and balancing hazard management with efforts to capitalise on opportunity; climate risk management information is central in this process. In this study, pastoralists’ perceptions of climate change, climate risk management information types, sources and attendant responses in a pastoral region in East Africa are examined. Through a multi-stage sampling process, a total of 198 heads of households in three districts were selected and interviewed using a semi-structured questionnaire. In addition, 29 focus group discussions and 10 key informant interviews were conducted to generate qualitative information to supplement survey data. Descriptive and thematic analysis were utilised in summarizing the data. Ninety-nine percent of the pastoralists noted that the climate had changed evidenced by high but erratic rainfall, occurrence of floods and variation in rainfall onset and cessation among other indicators. This change in climate had led to emergence of ‘new’ livestock and crop diseases, crop failure and low yields leading to frequent food shortages, water shortages, poor market access, and variation in pasture availability among other effects. Climate risk management information was received from multiple sources including; radio, diviners, community meetings, shrine elders, humanitarian agencies, and Uganda People’s defence forces (UPDF. Community meetings were however perceived as most accessible, reliable and dependable sources of information. Shifting livestock to dry season grazing and watering areas, selling firewood and charcoal, seeking for military escorts to grazing areas, purchasing veterinary drugs, shifting livestock to disease ‘free’ areas, and performing rituals (depending on the perceived risk constituted a set of responses undertaken in

  8. Recent innovation of geospatial information technology to support disaster risk management and responses

    Science.gov (United States)

    Une, Hiroshi; Nakano, Takayuki

    2018-05-01

    Geographic location is one of the most fundamental and indispensable information elements in the field of disaster response and prevention. For example, in the case of the Tohoku Earthquake in 2011, aerial photos taken immediately after the earthquake greatly improved information sharing among different government offices and facilitated rescue and recovery operations, and maps prepared after the disaster assisted in the rapid reconstruction of affected local communities. Thanks to the recent development of geospatial information technology, this information has become more essential for disaster response activities. Advancements in web mapping technology allows us to better understand the situation by overlaying various location-specific data on base maps on the web and specifying the areas on which activities should be focused. Through 3-D modelling technology, we can have a more realistic understanding of the relationship between disaster and topography. Geospatial information technology can sup-port proper preparation and emergency responses against disasters by individuals and local communities through hazard mapping and other information services using mobile devices. Thus, geospatial information technology is playing a more vital role on all stages of disaster risk management and responses. In acknowledging geospatial information's vital role in disaster risk reduction, the Sendai Framework for Disaster Risk Reduction 2015-2030, adopted at the Third United Nations World Conference on Disaster Risk Reduction, repeatedly reveals the importance of utilizing geospatial information technology for disaster risk reduction. This presentation aims to report the recent practical applications of geospatial information technology for disaster risk management and responses.

  9. How does genetic risk information for Lynch syndrome translate to risk management behaviours?

    Science.gov (United States)

    Steel, Emma; Robbins, Andrew; Jenkins, Mark; Flander, Louisa; Gaff, Clara; Keogh, Louise

    2017-01-01

    There is limited research on why some individuals who have undergone predictive genetic testing for Lynch syndrome do not adhere to screening recommendations. This study aimed to explore qualitatively how Lynch syndrome non-carriers and carriers translate genetic risk information and advice to decisions about risk managment behaviours in the Australian healthcare system. Participants of the Australasian Colorectal Cancer Family Registry who had undergone predictive genetic testing for Lynch syndrome were interviewed on their risk management behaviours. Transcripts were analysed thematically using a comparative coding analysis. Thirty-three people were interviewed. Of the non-carriers ( n  = 16), 2 reported having apparently unnecessary colonoscopies, and 6 were unsure about what population-based colorectal cancer screening entails. Of the carriers ( n  = 17), 2 reported they had not had regular colonoscopies, and spoke about their discomfort with the screening process and a lack of faith in the procedure's ability to reduce their risk of developing colorectal cancer. Of the female carriers ( n  = 9), 2 could not recall being informed about the associated risk of gynaecological cancers. Non-carriers and female carriers of Lynch syndrome could benefit from further clarity and advice about appropriate risk management options. For those carriers who did not adhere to colonoscopy screening, a lack of faith in both genetic test results and screening were evident. It is essential that consistent advice is offered to both carriers and non-carriers of Lynch syndrome.

  10. A Framework for Integrating Knowledge Management with Risk Management for Information Technology Projects (RiskManiT)

    Science.gov (United States)

    Karadsheh, Louay A.

    2010-01-01

    This research focused on the challenges experienced when executing risk management activities for information technology projects. The lack of adequate knowledge management support of risk management activities has caused many project failures in the past. The research objective was to propose a conceptual framework of the Knowledge-Based Risk…

  11. 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 ...

  12. MAVEN Information Security Governance, Risk Management, and Compliance (GRC): Lessons Learned

    Science.gov (United States)

    Takamura, Eduardo; Gomez-Rosa, Carlos A.; Mangum, Kevin; Wasiak, Fran

    2014-01-01

    As the first interplanetary mission managed by the NASA Goddard Space Flight Center, the Mars Atmosphere and Volatile EvolutioN (MAVEN) had three IT security goals for its ground system: COMPLIANCE, (IT) RISK REDUCTION, and COST REDUCTION. In a multiorganizational environment in which government, industry and academia work together in support of the ground system and mission operations, information security governance, risk management, and compliance (GRC) becomes a challenge as each component of the ground system has and follows its own set of IT security requirements. These requirements are not necessarily the same or even similar to each other's, making the auditing of the ground system security a challenging feat. A combination of standards-based information security management based on the National Institute of Standards and Technology (NIST) Risk Management Framework (RMF), due diligence by the Mission's leadership, and effective collaboration among all elements of the ground system enabled MAVEN to successfully meet NASA's requirements for IT security, and therefore meet Federal Information Security Management Act (FISMA) mandate on the Agency. Throughout the implementation of GRC on MAVEN during the early stages of the mission development, the Project faced many challenges some of which have been identified in this paper. The purpose of this paper is to document these challenges, and provide a brief analysis of the lessons MAVEN learned. The historical information documented herein, derived from an internal pre-launch lessons learned analysis, can be used by current and future missions and organizations implementing and auditing GRC.

  13. An Assessment of Risk and Risk Management Information Disclosure of Companies Listed in Nasdaq OMX Baltic and Euronext Brussels

    Directory of Open Access Journals (Sweden)

    Dalia Kolmatsui

    2016-09-01

    Full Text Available The main goal of this paper is to discuss theoretically and to evaluate empirically the differences of risk and risk management information disclosure (RRMID among companies listed in Nasdaq OMX Baltic and Euronext Brussels and to determine factors influencing such differences. The authors use analysis and systemization of scientific literature, induction, content analysis and coding procedure for risk and risk management information disclosure assessment, as well as correlation and regression analyses. The results suggest that companies listed in Euronext Brussels disclose more risk and risk management (RRM information; RRM related disclosures are more qualitative, focused on past or present events and have a neutral meaning in both markets. Companies also disclose more information about risks themselves than about risk management. Finally, only companies’ size and presence of audit committee are significant factors influencing RRMID.

  14. Fatigue risk management by volunteer fire-fighters: Use of informal strategies to augment formal policy.

    Science.gov (United States)

    Dawson, Drew; Mayger, Katherine; Thomas, Matthew J W; Thompson, Kirrilly

    2015-11-01

    An increasing number and intensity of catastrophic fire events in Australia has led to increasing demands on a mainly volunteer fire-fighting workforce. Despite the increasing likelihood of fatigue in the emergency services environment, there is not yet a systematic, unified approach to fatigue management in fire agencies across Australia. Accordingly, the aim of this study was to identify informal strategies used in volunteer fire-fighting and examine how these strategies are transmitted across the workforce. Thirty experienced Australian volunteer fire-fighters were interviewed in August 2010. The study identified informal fatigue-management behaviours at the individual, team and brigade level that have evolved in fire-fighting environments and are regularly implemented. However, their purpose was not explicitly recognized as such. This apparent paradox - that fatigue proofing behaviours exist but that they are not openly understood as such - may well resolve a potential conflict between a culture of indefatigability in the emergency services sector and the frequent need to operate safely while fatigued. However, formal controls require fire-fighters and their organisations to acknowledge and accept their vulnerability. This suggests two important areas in which to improve formal fatigue risk management in the emergency services sector: (1) identifying and formalising tacit or informal fatigue coping strategies as legitimate elements of the fatigue risk management system; and (2) developing culturally appropriate techniques for systematically communicating fatigue levels to self and others. Copyright © 2015 Elsevier Ltd. All rights reserved.

  15. 77 FR 9237 - Agency Information Collection Activities; Proposed Collection; Comment Request; Risk Management...

    Science.gov (United States)

    2012-02-16

    ... Activities; Proposed Collection; Comment Request; Risk Management Program Requirements and Petitions To..., non-chemical manufacturers, etc. Title: Risk Management Program Requirements and Petitions to Modify... regulated substance in a process develop and implement a risk management program and submit a risk...

  16. Applying the Australian and New Zealand Risk Management Standard to Information Systems in SMES

    Directory of Open Access Journals (Sweden)

    Robyn Davidson

    2004-11-01

    Full Text Available This paper advocates the use of the Australia/New Zealand Risk Management Standard (SA/SNZ, 1999 in conjunction with of a modified version of Birch and McEvoy’s (1992 Structured Risk Analysis for Information Systems (SRA-IS to identify information systems security risks in SMEs. The use of Internet based commerce by SMEs exposes them to information systems security risks that they are ill equipped to recognise let alone mitigate. Unlike the identification of some business risks, identification of risks associated with information systems requires certain technical expertise. The structure of the existing information system must be understood and modelled before risks can be identified and it is acknowledged that the required technical expertise may not be present in SMEs, thus the involvement of information systems consultants may be necessary. Once the information system has been modelled little information systems expertise is required to complete the analysis, keeping consultant involvement to a minimum and maximising owner/manager involvement.

  17. Implementation Octave-S and Iso 27001controls in Risk Management Information Systems

    Directory of Open Access Journals (Sweden)

    Stephanus Stephanus

    2014-12-01

    Full Text Available Extensive use of information technology in companies put IT into a position which is of considerable concern, especially in large companies that put IT becomes a strategic part of the company. The importance of IT division, make the companies willing to pay big to get the benefits offered by IT itself, but on the other hand appears disappointment incurred from investments are not comparable with the results obtained. Until the threat appear and disrupt the business of the company. By doing risk management using the OCTAVE-S, particularly in smaller companies, can help companies to be growing, the company can find out the weaknesses and threats that may arise that could disrupt the company's business, helped by the standard controls that are owned by the ISO / EIC 27001 : 2005 helps companies to prepare implement ISO / EIC 27001:2005 later.

  18. Medical image information system 2001. Development of the medical image information system to risk management- Medical exposure management

    International Nuclear Information System (INIS)

    Kuranishi, Makoto; Kumagai, Michitomo; Shintani, Mitsuo

    2000-01-01

    This paper discusses the methods and systems for optimizing the following supplements 10 and 17 for national health and medical care. The supplements 10 and 17 of DICOM (digital imaging and communications in medicine) system, which is now under progress for the purpose to keep compatibility within medical image information system as an international standard, are important for making the cooperation between HIS (hospital information system)/RIS (radiation information system) and modality (imaging instruments). Supplement 10 concerns the system to send the information of patients and their orders through HIS/RIS to modality and 17, the information of modality performed procedure step (MPPS) to HIS/RIS. The latter defines to document patients' exposure, a part of which has not been recognized in Japan. Thus the medical information system can be useful for risk-management of medical exposure in future. (K.H.)

  19. Medical image information system 2001. Development of the medical image information system to risk management- Medical exposure management

    Energy Technology Data Exchange (ETDEWEB)

    Kuranishi, Makoto; Kumagai, Michitomo; Shintani, Mitsuo [Toyama Medical and Pharmaceutical Univ. (Japan). Hospital

    2000-12-01

    This paper discusses the methods and systems for optimizing the following supplements 10 and 17 for national health and medical care. The supplements 10 and 17 of DICOM (digital imaging and communications in medicine) system, which is now under progress for the purpose to keep compatibility within medical image information system as an international standard, are important for making the cooperation between HIS (hospital information system)/RIS (radiation information system) and modality (imaging instruments). Supplement 10 concerns the system to send the information of patients and their orders through HIS/RIS to modality and 17, the information of modality performed procedure step (MPPS) to HIS/RIS. The latter defines to document patients' exposure, a part of which has not been recognized in Japan. Thus the medical information system can be useful for risk-management of medical exposure in future. (K.H.)

  20. Achieving a Risk-Informed Decision-Making Environment at NASA: The Emphasis of NASA's Risk Management Policy

    Science.gov (United States)

    Dezfuli, Homayoon

    2010-01-01

    This slide presentation reviews the evolution of risk management (RM) at NASA. The aim of the RM approach at NASA is to promote an approach that is heuristic, proactive, and coherent across all of NASA. Risk Informed Decision Making (RIDM) is a decision making process that uses a diverse set of performance measures along with other considerations within a deliberative process to inform decision making. RIDM is invoked for key decisions such as architecture and design decisions, make-buy decisions, and budget reallocation. The RIDM process and how it relates to the continuous Risk Management (CRM) process is reviewed.

  1. 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.

  2. Building a Values-Informed Mental Model for New Orleans Climate Risk Management.

    Science.gov (United States)

    Bessette, Douglas L; Mayer, Lauren A; Cwik, Bryan; Vezér, Martin; Keller, Klaus; Lempert, Robert J; Tuana, Nancy

    2017-10-01

    Individuals use values to frame their beliefs and simplify their understanding when confronted with complex and uncertain situations. The high complexity and deep uncertainty involved in climate risk management (CRM) lead to individuals' values likely being coupled to and contributing to their understanding of specific climate risk factors and management strategies. Most mental model approaches, however, which are commonly used to inform our understanding of people's beliefs, ignore values. In response, we developed a "Values-informed Mental Model" research approach, or ViMM, to elicit individuals' values alongside their beliefs and determine which values people use to understand and assess specific climate risk factors and CRM strategies. Our results show that participants consistently used one of three values to frame their understanding of risk factors and CRM strategies in New Orleans: (1) fostering a healthy economy, wealth, and job creation, (2) protecting and promoting healthy ecosystems and biodiversity, and (3) preserving New Orleans' unique culture, traditions, and historically significant neighborhoods. While the first value frame is common in analyses of CRM strategies, the latter two are often ignored, despite their mirroring commonly accepted pillars of sustainability. Other values like distributive justice and fairness were prioritized differently depending on the risk factor or strategy being discussed. These results suggest that the ViMM method could be a critical first step in CRM decision-support processes and may encourage adoption of CRM strategies more in line with stakeholders' values. © 2017 Society for Risk Analysis.

  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. 76 FR 65317 - 60-Day Notice of Proposed Information Collection: DS-4184, Risk Management and Analysis (RAM)

    Science.gov (United States)

    2011-10-20

    ..., Risk Management and Analysis (RAM) ACTION: Notice of request for public comments. SUMMARY: The... of 1995. Title of Information Collection: Risk Analysis and Management. OMB Control Number: None.... Methodology: The State Department, is implementing a Risk Analysis and Management Program to vet potential...

  5. A risk management approach to double-shell tank waste volume versus storage capacity

    International Nuclear Information System (INIS)

    Coles, G.A.; Thurkow, T.J.; Fritz, R.L.; Nuhlestein, L.O.; Allen, M.R.; Stuart, R.J.

    1996-01-01

    A risk-based assessment of the overall waste volume versus double-shell tank storage capacity was conducted to develop fallback positions for projections where the waste volume was at a high risk of exceeding capacity. This study was initiated to provide that assessment. A working simulation model was the primary deliverable of this study. The model validates the approach and demonstrates that simulation analysis can provide a method of tracking uncertainties in available data, assessing probabilities, and serves as a tool to be used by management to determine the consequences of various off-normal occurrences

  6. A risk management approach to double-shell tank waste volume versus storage capacity

    Energy Technology Data Exchange (ETDEWEB)

    Coles, G.A. [Westinghouse Hanford Co., Richland, WA (United States); Thurkow, T.J.; Fritz, R.L.; Nuhlestein, L.O.; Allen, M.R.; Stuart, R.J. [ARES Corp. (United States)

    1996-01-01

    A risk-based assessment of the overall waste volume versus double-shell tank storage capacity was conducted to develop fallback positions for projections where the waste volume was at a high risk of exceeding capacity. This study was initiated to provide that assessment. A working simulation model was the primary deliverable of this study. The model validates the approach and demonstrates that simulation analysis can provide a method of tracking uncertainties in available data, assessing probabilities, and serves as a tool to be used by management to determine the consequences of various off-normal occurrences.

  7. 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.

  8. 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...

  9. Designing an integrated model based on the indicators Quality and Earned Value for risk management in Information Technology Projects

    OpenAIRE

    TATLARI, Mohammad Reza; KAZEMİPOOR, Hamed

    2015-01-01

    There are two effective factors on Information Technology (IT) projects risk including quality and earned value so that by controlling these two factors and their increased level in IT projects, the corresponding risk can be decreased. Therefore in present study, an integrated model was designed based on quality and earned value indicators for risk management in IT projects on a new and efficient approach. The proposed algorithm included the steps such as preparing a list of several indicator...

  10. Information Risk Management: Qualitative or Quantitative? Cross industry lessons from medical and financial fields

    OpenAIRE

    Upasna Saluja; Norbik Bashah Idris

    2012-01-01

    Enterprises across the world are taking a hard look at their risk management practices. A number of qualitative and quantitative models and approaches are employed by risk practitioners to keep risk under check. As a norm most organizations end up choosing the more flexible, easier to deploy and customize qualitative models of risk assessment. In practice one sees that such models often call upon the practitioners to make qualitative judgments on a relative rating scale which brings in consid...

  11. 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.

  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. Agile risk management

    CERN Document Server

    Moran, Alan

    2014-01-01

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

  14. Risk management 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.

  15. Combination of uncertainty theories and decision-aiding methods for natural risk management in a context of imperfect information

    Science.gov (United States)

    Tacnet, Jean-Marc; Dupouy, Guillaume; Carladous, Simon; Dezert, Jean; Batton-Hubert, Mireille

    2017-04-01

    In mountain areas, natural phenomena such as snow avalanches, debris-flows and rock-falls, put people and objects at risk with sometimes dramatic consequences. Risk is classically considered as a combination of hazard, the combination of the intensity and frequency of the phenomenon, and vulnerability which corresponds to the consequences of the phenomenon on exposed people and material assets. Risk management consists in identifying the risk level as well as choosing the best strategies for risk prevention, i.e. mitigation. In the context of natural phenomena in mountainous areas, technical and scientific knowledge is often lacking. Risk management decisions are therefore based on imperfect information. This information comes from more or less reliable sources ranging from historical data, expert assessments, numerical simulations etc. Finally, risk management decisions are the result of complex knowledge management and reasoning processes. Tracing the information and propagating information quality from data acquisition to decisions are therefore important steps in the decision-making process. One major goal today is therefore to assist decision-making while considering the availability, quality and reliability of information content and sources. A global integrated framework is proposed to improve the risk management process in a context of information imperfection provided by more or less reliable sources: uncertainty as well as imprecision, inconsistency and incompleteness are considered. Several methods are used and associated in an original way: sequential decision context description, development of specific multi-criteria decision-making methods, imperfection propagation in numerical modeling and information fusion. This framework not only assists in decision-making but also traces the process and evaluates the impact of information quality on decision-making. We focus and present two main developments. The first one relates to uncertainty and imprecision

  16. A new Geo-Information Architecture for Risk Management in the Alps

    Science.gov (United States)

    Baruffini, Mi.; Thuering, M.

    2009-04-01

    During the last decades land-use increased significantly in the Swiss (and European) mountain regions. Due to the scarceness of areas suitable for development, anthropic activities were extended into areas prone to natural hazards such as avalanches, debris flows and rockfalls (Smith 2001). Furthermore, the transalpine transport system necessity to develop effective links in an important area collides with the need to ensure the safety of travelers and the health of the population. Consequently, an increase in losses due to hazards can be observed. To mitigate these associated losses, both traditional protective measures and land-use planning policies are to be developed and implemented to optimize future investments. Efficient protection alternatives can be obtained considering the concept of integral risk management. Risk analysis, as the central part of risk management, has become gradually a generally accepted approach for the assessment of current and future scenarios (Loat & Zimmermann 2004). The procedure aims at risk reduction which can be reached by conventional mitigation on one hand and the implementation of land-use planning on the other hand: a combination of active and passive mitigation measures is applied to prevent damage to buildings, people and infrastructures. As part of the Swiss National Science Foundation Project 54 "Evaluation of the optimal resilience for vulnerable infrastructure networks - An interdisciplinary pilot study on the transalpine transportation corridors" we study the vulnerability of infrastructures due to natural hazards. The project aims to study various natural hazards (and later, even man-made) and to obtain an evaluation of the resilience according to an interdisciplinary approach, considering the possible damage by means of risk criteria and pointing out the feasibility of conceivable measures to reduce potential damage. The project consists of a geoscientific part and an application. The fist part consists in studying

  17. Expanding the Reach of Participatory Risk Management: Testing an Online Decision-Aiding Framework for Informing Internally Consistent Choices.

    Science.gov (United States)

    Bessette, Douglas L; Campbell-Arvai, Victoria; Arvai, Joseph

    2016-05-01

    This article presents research aimed at developing and testing an online, multistakeholder decision-aiding framework for informing multiattribute risk management choices associated with energy development and climate change. The framework was designed to provide necessary background information and facilitate internally consistent choices, or choices that are in line with users' prioritized objectives. In order to test different components of the decision-aiding framework, a six-part, 2 × 2 × 2 factorial experiment was conducted, yielding eight treatment scenarios. The three factors included: (1) whether or not users could construct their own alternatives; (2) the level of detail regarding the composition of alternatives users would evaluate; and (3) the way in which a final choice between users' own constructed (or highest-ranked) portfolio and an internally consistent portfolio was presented. Participants' self-reports revealed the framework was easy to use and providing an opportunity to develop one's own risk-management alternatives (Factor 1) led to the highest knowledge gains. Empirical measures showed the internal consistency of users' decisions across all treatments to be lower than expected and confirmed that providing information about alternatives' composition (Factor 2) resulted in the least internally consistent choices. At the same time, those users who did not develop their own alternatives and were not shown detailed information about the composition of alternatives believed their choices to be the most internally consistent. These results raise concerns about how the amount of information provided and the ability to construct alternatives may inversely affect users' real and perceived internal consistency. © 2015 Society for Risk Analysis.

  18. A Review on Applications of Remote Sensing and Geographic Information Systems (GIS in Water Resources and Flood Risk Management

    Directory of Open Access Journals (Sweden)

    Xianwei Wang

    2018-05-01

    Full Text Available Water is one of the most critical natural resources that maintain the ecosystem and support people’s daily life. Pressures on water resources and disaster management are rising primarily due to the unequal spatial and temporal distribution of water resources and pollution, and also partially due to our poor knowledge about the distribution of water resources and poor management of their usage. Remote sensing provides critical data for mapping water resources, measuring hydrological fluxes, monitoring drought and flooding inundation, while geographic information systems (GIS provide the best tools for water resources, drought and flood risk management. This special issue presents the best practices, cutting-edge technologies and applications of remote sensing, GIS and hydrological models for water resource mapping, satellite rainfall measurements, runoff simulation, water body and flood inundation mapping, and risk management. The latest technologies applied include 3D surface model analysis and visualization of glaciers, unmanned aerial vehicle (UAV video image classification for turfgrass mapping and irrigation planning, ground penetration radar for soil moisture estimation, the Tropical Rainfall Measuring Mission (TRMM and the Global Precipitation Measurement (GPM satellite rainfall measurements, storm hyetography analysis, rainfall runoff and urban flooding simulation, and satellite radar and optical image classification for urban water bodies and flooding inundation. The application of those technologies is expected to greatly relieve the pressures on water resources and allow better mitigation of and adaptation to the disastrous impact of droughts and flooding.

  19. Development of a semantically operating risk management information system using the example of the European organization for nuclear research (CERN)

    International Nuclear Information System (INIS)

    Aprin, Lars

    2013-01-01

    The term risk analysis summarises the systematic endeavour to identify and evaluate the risks within an organisation associated with projects and actions, and make it possible to regulate risks. Risk analyses are an integral component of risk management, and thus essential to consolidating safety. In that respect, the adequacy and reliability of the findings obtained by way of risk analysis directly depend on the availability and quality of the knowledge resources supplied organisationally. Access to knowledge relevant to making decisions is, however, hampered, in the real world of work through the impact of various informational barriers. Knowledge that is conducive to understanding and avoiding risks is frequently stored in very specialised database systems, the individual syntactic and semantic structures of which make it a very time-consuming and laborious operation to use such knowledge in the context of applications other than the one originally linked to the databases. In addition, a degree of ambiguity that accompanies the semi-structured nature of many documentation and reporting systems makes it difficult to process knowledge efficiently and in an automated way, for example in conjunction with search engines. This dissertation presents a contribution towards overcoming the existing knowledge barriers in risk management. To this end, the method of applying semantic methods of representing knowledge in the domain of risk analysis is proposed. The focus is on the semantic web, which -as an enhancement of the World Wide Web- makes it possible to explicitly grasp the meaning of knowledge contexts and reproduce this information. Should the present risk management be distinguished by document-based organisation and distribution of knowledge, the semantic web presents methods and tools which make it possible to put the knowledge directly to work on the data set level. Building on the latter, the concept of a semantically operating risk management information

  20. 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...

  1. Extracting additional risk managers information from a risk assessment of Listeria monocytogenes in deli meats

    NARCIS (Netherlands)

    Pérez-Rodríguez, F.; Asselt, van E.D.; García-Gimeno, R.M.; Zurera, G.; Zwietering, M.H.

    2007-01-01

    The risk assessment study of Listeria monocytogenes in ready-to-eat foods conducted by the U.S. Food and Drug Administration is an example of an extensive quantitative microbiological risk assessment that could be used by risk analysts and other scientists to obtain information and by managers and

  2. Development of information security and vulnerability risk management system for J-PARC

    International Nuclear Information System (INIS)

    Ishikawa, Hiroyuki; Tate, Akihiro; Murakami, Tadashi

    2012-02-01

    In J-PARC (Japan Proton Accelerator Research Complex) we have set up intra-network (internal network, we will abbreviate it as JLAN, below) to support research activity and communication among users. In JLAN, we set up various kinds of security devices to keep JLAN secure. However, the servers which provide information or service to public are still in danger of being accessed illegally. If there is an illegal access, that may cause defacement of data or information leak. Furthermore, the victim servers are manipulated by the malicious attackers, and they themselves attack the external information equipments. Vulnerability of servers enables unauthorized access. So, vulnerability test with use of a vulnerability tool is one of the most effective ways to take measures for vulnerability of the equipments. However, it is not enough to just conduct a vulnerability test. It is also essential for information security to take measures to cover constantly for the vulnerability of servers. We focused on the points above, and developed the vulnerability testing system for security. It is not only a testing tool for the vulnerability of servers, but also management system which enables the server administrators in charge of taking measures for vulnerabilities to manage risks and handles PDCA (Plan-Do-Check-Action) cycles as countermeasure for vulnerability. In this paper, we report the technologies and ingenuities for the development of the above system. (author)

  3. Information Security Maturity as an Integral Part of ISMS based Risk Management Tools

    NARCIS (Netherlands)

    Fetler, Ben; Harpes, Carlo

    2016-01-01

    Measuring the continuous improvement of Information Security Management Systems (ISMS) is often neglected as most organizations do not know how to extract key-indicators that could be used for this purpose. The underlying work presents a six-level maturity model which can be fully integrated in a

  4. [How the information system can contribute to the implementation of a risk management program in a hospital?].

    Science.gov (United States)

    Staccini, P; Quaranta, J F; Staccini-Myx, A; Veyres, P; Jambou, P

    2003-09-01

    Nowadays, information system is recognised as one of the key points of the management strategy. An information system is regarded conceptualised as a mean to link 3 aspects of a firm (structure, organisation rules and staff). Its design and implementation have to meet the objectives of medical and economical evaluation, especially risk management objectives. In order to identify, analyse, reduce and prevent the occurrence of adverse events, and also to measure the efficacy and efficiency of the production of care services, the design of information systems should be based on a process analysis in order to describe and classify all the working practices within the hospital. According to various methodologies (usually top-down analysis), each process can be divided into activities. Each activity (especially each care activity) can be described according to its potential risks and expected results. For care professionals performing a task, the access to official or internal guidelines and the adverse events reporting forms has also to be defined. Putting together all the elements of such a process analysis will contribute to integrate, into daily practice, the management of risks, supported by the information system.

  5. Development of Risk Management Technology/Development of Risk-Informed Application Technology

    Energy Technology Data Exchange (ETDEWEB)

    Yang, Joon Eon; Kim, K. Y.; Ahn, K. I.; Lee, Y. H.; Lim, H. G.; Jung, W. S.; Choi, S. Y.; Han, S. J.; Ha, J. J.; Hwang, M. J.; Park, S. Y.; Yoon, C

    2007-06-15

    This project aims at developing risk-informed application technologies to enhance the safety and economy of nuclear power plant altogether. For this, the Integrated Level 1 and 2 PSA model is developed. In addition, the fire and internal flooding PSA models are improved according to the PSA standard of U.S.A. To solve the issues of domestic PSA model, the best-estimate thermal hydraulic analyses are preformed for the ATWS and LSSB. In order to reduce the uncertainty of PSA, several new PSA technologies are developed: (1) more exact quantification of large fault tree, (2) importance measure including the effects of external PSA. As feasibility studies of Option 2 and 3, the class of 6 systems' SSC are re-classified based on the risk information and the sensitivity analyses is performed for the EDG starting time, respectively. It is also improved that the methodology to identify the vital area of NPP. The research results of this project can be used in the regulatory body and the industry projects for risk-informed applications.

  6. Information systems in a changing climate: Early warnings and drought risk management

    Directory of Open Access Journals (Sweden)

    Roger S. Pulwarty

    2014-06-01

    Full Text Available Drought is among the most damaging, and least understood, of all “natural” hazards. Although some droughts last a single season and affect only small areas, the instrumental and paleoclimate records show that droughts have sometimes continued for decades and have impacted millions of square kilometers in North America, West Africa, and East Asia. To cross the spectrum of potential drivers and impacts, drought information systems have multiple sub-systems which include an integrated risk assessment, communication and decision support system of which early warning is a central component and output. An early warning system is much more than a forecast – it is a linked risk information (including people׳s perception of risk and communication system that actively engages communities involved in preparedness. There are numerous drought systems warning systems being implemented at different scales of governance. We draw on the lessons of over 21 drought early warning systems around the world, in both developing and developed countries and at regional, national and community levels. The successes illustrate that effective early warning depends upon a multi-sectoral and interdisciplinary collaboration among all concerned actors at each stage in the warning process from monitoring to response and evaluation. However, the links between the community-based approach and the national and global EWSs are relatively weak. Using the rich experience of information systems across the globe, this paper identifies pathways for knowledge management and action at the relevant scales for decision-making in response to a changing climate.

  7. Development of Risk Management Technology/Development of Risk-Informed Application Technology

    International Nuclear Information System (INIS)

    Yang, Joon Eon; Kim, K. Y.; Ahn, K. I.; Lee, Y. H.; Lim, H. G.; Jung, W. S.; Choi, S. Y.; Han, S. J.; Ha, J. J.; Hwang, M. J.; Park, S. Y.; Yoon, C.

    2007-06-01

    This project aims at developing risk-informed application technologies to enhance the safety and economy of nuclear power plant altogether. For this, the Integrated Level 1 and 2 PSA model is developed. In addition, the fire and internal flooding PSA models are improved according to the PSA standard of U.S.A. To solve the issues of domestic PSA model, the best-estimate thermal hydraulic analyses are preformed for the ATWS and LSSB. In order to reduce the uncertainty of PSA, several new PSA technologies are developed: (1) more exact quantification of large fault tree, (2) importance measure including the effects of external PSA. As feasibility studies of Option 2 and 3, the class of 6 systems' SSC are re-classified based on the risk information and the sensitivity analyses is performed for the EDG starting time, respectively. It is also improved that the methodology to identify the vital area of NPP. The research results of this project can be used in the regulatory body and the industry projects for risk-informed applications

  8. Flood Risk Management in Iowa through an Integrated Flood Information System

    Science.gov (United States)

    Demir, Ibrahim; Krajewski, Witold

    2013-04-01

    The Iowa Flood Information System (IFIS) is a web-based platform developed by the Iowa Flood Center (IFC) to provide access to flood inundation maps, real-time flood conditions, flood forecasts both short-term and seasonal, flood-related data, information and interactive visualizations for communities in Iowa. The key element of the system's architecture is the notion of community. Locations of the communities, those near streams and rivers, define basin boundaries. The IFIS provides community-centric watershed and river characteristics, weather (rainfall) conditions, and streamflow data and visualization tools. Interactive interfaces allow access to inundation maps for different stage and return period values, and flooding scenarios with contributions from multiple rivers. Real-time and historical data of water levels, gauge heights, and rainfall conditions are available in the IFIS by streaming data from automated IFC bridge sensors, USGS stream gauges, NEXRAD radars, and NWS forecasts. Simple 2D and 3D interactive visualizations in the IFIS make the data more understandable to general public. Users are able to filter data sources for their communities and selected rivers. The data and information on IFIS is also accessible through web services and mobile applications. The IFIS is optimized for various browsers and screen sizes to provide access through multiple platforms including tablets and mobile devices. The IFIS includes a rainfall-runoff forecast model to provide a five-day flood risk estimate for around 1100 communities in Iowa. Multiple view modes in the IFIS accommodate different user types from general public to researchers and decision makers by providing different level of tools and details. River view mode allows users to visualize data from multiple IFC bridge sensors and USGS stream gauges to follow flooding condition along a river. The IFIS will help communities make better-informed decisions on the occurrence of floods, and will alert

  9. Exposure Estimation and Interpretation of Occupational Risk: Enhanced Information for the Occupational Risk Manager

    Science.gov (United States)

    Waters, Martha; McKernan, Lauralynn; Maier, Andrew; Jayjock, Michael; Schaeffer, Val; Brosseau, Lisa

    2015-01-01

    The fundamental goal of this article is to describe, define, and analyze the components of the risk characterization process for occupational exposures. Current methods are described for the probabilistic characterization of exposure, including newer techniques that have increasing applications for assessing data from occupational exposure scenarios. In addition, since the probability of health effects reflects variability in the exposure estimate as well as the dose-response curve—the integrated considerations of variability surrounding both components of the risk characterization provide greater information to the occupational hygienist. Probabilistic tools provide a more informed view of exposure as compared to use of discrete point estimates for these inputs to the risk characterization process. Active use of such tools for exposure and risk assessment will lead to a scientifically supported worker health protection program. Understanding the bases for an occupational risk assessment, focusing on important sources of variability and uncertainty enables characterizing occupational risk in terms of a probability, rather than a binary decision of acceptable risk or unacceptable risk. A critical review of existing methods highlights several conclusions: (1) exposure estimates and the dose-response are impacted by both variability and uncertainty and a well-developed risk characterization reflects and communicates this consideration; (2) occupational risk is probabilistic in nature and most accurately considered as a distribution, not a point estimate; and (3) occupational hygienists have a variety of tools available to incorporate concepts of risk characterization into occupational health and practice. PMID:26302336

  10. 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.

  11. On the Value of Monitoring Information for the Structural Integrity and Risk Management

    DEFF Research Database (Denmark)

    Thöns, Sebastian

    2018-01-01

    facilitates the assessment of the value of information associated with SHM. The principal approach for the quantification of the value of SHM is formulated by modeling the fundamental decision of performing SHM or not in conjunction with their expected utilities. The expected utilities are calculated....... The calculation of the expected utilities necessitates a comprehensive and rigorous modeling, which is introduced close to the original formulations and for which analysis characteristics and simplifications are described and derived. The framework provides the basis for the optimization of the structural risk......This article introduces an approach and framework for the quantification of the value of structural health monitoring (SHM) in the context of the structural risk and integrity management for systems.The quantification of the value of SHM builds upon the Bayesian decision and utility theory, which...

  12. The enhanced mine communications and information systems. The development of the Nexsys realtime risk management system

    Energy Technology Data Exchange (ETDEWEB)

    Haustein, K.; Rowan, G. [CSIRO Exploration and Mining (Australia)

    2007-03-15

    The article describes two safety projects under way between JCOAL in Japan and CSIRO (Australia) which are concluding in March 2007. The first was to develop a real-time roof fall monitoring and warning system for underground coal mines. The system consisted of extensometers, stress meters and a seismic monitoring system. It was installed at the Ulan colliery in New South Wales. The output of the system is a set of probabilities of a roof fall happening within various periods of time. The three instruments have colour-coded warning lights. The second project, the enhanced mine communications and information systems for real-time risk analysis project, collects and analyses data from diverse sources with the Nexsys{trademark} hardware and software system. It is now installed in two mines in Australia and one in Japan. The system is described in detail in the article. 2 refs., 6 figs.

  13. Information architecture. Volume 3: Guidance

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-04-01

    The purpose of this document, as presented in Volume 1, The Foundations, is to assist the Department of Energy (DOE) in developing and promulgating information architecture guidance. This guidance is aimed at increasing the development of information architecture as a Departmentwide management best practice. This document describes departmental information architecture principles and minimum design characteristics for systems and infrastructures within the DOE Information Architecture Conceptual Model, and establishes a Departmentwide standards-based architecture program. The publication of this document fulfills the commitment to address guiding principles, promote standard architectural practices, and provide technical guidance. This document guides the transition from the baseline or defacto Departmental architecture through approved information management program plans and budgets to the future vision architecture. This document also represents another major step toward establishing a well-organized, logical foundation for the DOE information architecture.

  14. Development of a spatial decision support system for flood risk management in Brazil that combines volunteered geographic information with wireless sensor networks

    Science.gov (United States)

    Horita, Flávio E. A.; Albuquerque, João Porto de; Degrossi, Lívia C.; Mendiondo, Eduardo M.; Ueyama, Jó

    2015-07-01

    Effective flood risk management requires updated information to ensure that the correct decisions can be made. This can be provided by Wireless Sensor Networks (WSN) which are a low-cost means of collecting updated information about rivers. Another valuable resource is Volunteered Geographic Information (VGI) which is a comparatively new means of improving the coverage of monitored areas because it is able to supply supplementary information to the WSN and thus support decision-making in flood risk management. However, there still remains the problem of how to combine WSN data with VGI. In this paper, an attempt is made to investigate AGORA-DS, which is a Spatial Decision Support System (SDSS) that is able to make flood risk management more effective by combining these data sources, i.e. WSN with VGI. This approach is built over a conceptual model that complies with the interoperable standards laid down by the Open Geospatial Consortium (OGC) - e.g. Sensor Observation Service (SOS) and Web Feature Service (WFS) - and seeks to combine and present unified information in a web-based decision support tool. This work was deployed in a real scenario of flood risk management in the town of São Carlos in Brazil. The evidence obtained from this deployment confirmed that interoperable standards can support the integration of data from distinct data sources. In addition, they also show that VGI is able to provide information about areas of the river basin which lack data since there is no appropriate station in the area. Hence it provides a valuable support for the WSN data. It can thus be concluded that AGORA-DS is able to combine information provided by WSN and VGI, and provide useful information for supporting flood risk management.

  15. Implementing health information exchange for public health reporting: a comparison of decision and risk management of three regional health information organizations in New York state

    Science.gov (United States)

    Phillips, Andrew B; Wilson, Rosalind V; Kaushal, Rainu; Merrill, Jacqueline A

    2014-01-01

    Health information exchange (HIE) is a significant component of healthcare transformation strategies at both the state and national levels. HIE is expected to improve care coordination, and advance public health, but implementation is massively complex and involves significant risk. In New York, three regional health information organizations (RHIOs) implemented an HIE use case for public health reporting by demonstrating capability to deliver accurate responses to electronic queries via a set of services called the Universal Public Health Node. We investigated process and outcomes of the implementation with a comparative case study. Qualitative analysis was structured around a decision and risk matrix. Although each RHIO had a unique operational model, two common factors influenced risk management and implementation success: leadership capable of agile decision-making and commitment to a strong organizational vision. While all three RHIOs achieved certification for the public health reporting, only one has elected to deploy a production version. PMID:23975626

  16. Information architecture. Volume 4: Vision

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-03-01

    The Vision document marks the transition from definition to implementation of the Department of Energy (DOE) Information Architecture Program. A description of the possibilities for the future, supported by actual experience with a process model and tool set, points toward implementation options. The directions for future information technology investments are discussed. Practical examples of how technology answers the business and information needs of the organization through coordinated and meshed data, applications, and technology architectures are related. This document is the fourth and final volume in the planned series for defining and exhibiting the DOE information architecture. The targeted scope of this document includes DOE Program Offices, field sites, contractor-operated facilities, and laboratories. This document paints a picture of how, over the next 7 years, technology may be implemented, dramatically improving the ways business is conducted at DOE. While technology is mentioned throughout this document, the vision is not about technology. The vision concerns the transition afforded by technology and the process steps to be completed to ensure alignment with business needs. This goal can be met if those directing the changing business and mission-support processes understand the capabilities afforded by architectural processes.

  17. Usability and Visual Communication for Southern California Tsunami Evacuation Information: The importance of information design in disaster risk management

    Science.gov (United States)

    Jaenichen, C.; Schandler, S.; Wells, M.; Danielsen, T.

    2015-12-01

    Evacuation behavior, including participation and response, is rarely an individual and isolated process and the outcomes are usually systemic. Ineffective evacuation information can easily attribute to delayed evacuation response. Delays increase demands on already extended emergency personal, increase the likelihood of traffic congestion, and can cause harm to self and property. From an information design perspective, addressing issues in cognitive recall and emergency psychology, this case study examines evacuation messaging including written, audio, and visual presentation of information, and describes the application of design principles and role of visual communication for Southern California tsunami evacuation outreach. The niche of this project is the inclusion of cognitive processing as the driving influence when making formal design decisions and measurable data from a 4-year cognitive recall study to support the solution. Image included shows a tsunami evacaution map before and after the redesign.

  18. 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...

  19. Flightfax: Army Aviation Risk-Management Information; Safety is a Leader's Job, Volume 27, Number 10

    National Research Council Canada - National Science Library

    1999-01-01

    .... However, what has changed in recent years has been our thinking about the human origins of accidents, Safety culture is one such concept that explicitly addresses the wider social causes of accidents...

  20. Flightfax - Army Aviation Risk-Management Information. Volume 25, Number 11, August 1997. Snow

    Science.gov (United States)

    1997-08-01

    but why haven’t Loach that would ensure our surviving a multiple- you been acknowledging the radio calls?" A quick wire strike. check confirmed that...helicopter upright with only the collective and Loach on post with skid shoes, the skid cleats would pedals. have snagged the middle wire and flipped...is more cost effective to overhaul until because masking violated FAA Mr. Ken Muzzo, DSN 490-2257 (314-260- the retirement life is reached. The

  1. 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.

  2. 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

  3. 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

  4. New technologies for the support of risk management. A systems-engineering point of view for the creation of risk information systems

    International Nuclear Information System (INIS)

    Beroggi, G.E.G.

    1995-01-01

    Within the framework of the poly project, the partial project 'Methodical Fundamentals and Computer Supported Risk Management' has developed two RISs (Risk Information Systems). The aim of the present book is to present the viewpoints gained in these new technologies and model formation attempts with which new RISs can be conceived and created. Because of the numerous new attempts, a compromise had to be made between the breadth and depth of the discussions whereby the breadth was preferred; which means that the aim is to define the broad range of RIS development as comprehensively as possible. The reader is meant to be motivated to think about the new technologies and their role in risk management. figs., tabs., refs

  5. 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.

  6. 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.

  7. 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.

  8. High Production Volume Information System (HPVIS)

    Data.gov (United States)

    U.S. Environmental Protection Agency — The High Production Volume Information System (HPVIS) provides access to select health and environmental effect information on chemicals that are manufactured in...

  9. 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...

  10. 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...

  11. 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.

  12. 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....

  13. 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.

  14. 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.

  15. 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....

  16. [Global risk management].

    Science.gov (United States)

    Sghaier, W; Hergon, E; Desroches, A

    2015-08-01

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

  17. 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.

  18. 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)

  19. 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 )}.

  20. 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....

  1. Governance and Risk Management of Network and Information Security: The Role of Public Private Partnerships in Managing the Existing and Emerging Risks

    Science.gov (United States)

    Navare, Jyoti; Gemikonakli, Orhan

    Globalisation and new technology has opened the gates to more security risks. As the strategic importance of communication networks and information increased, threats to the security and safety of communication infrastructures, as well as information stored in and/or transmitted increased significantly. The development of the self replicating programmes has become a nightmare for Internet users. Leading companies, strategic organisations were not immune to attacks; they were also "hacked" and overtaken by intruders. Incidents of recent years have also shown that national/regional crisis may also trigger cyber attacks at large scale. Experts forecast that cyber wars are likely to take the stage as tension mounts between developed societies. New risks such as cyber-attacks, network terrorism and disintegration of traditional infrastructures has somewhat blurred the boundaries of operation and control. This paper seeks to consider the risk management and governance and looking more specifically at implications for emerging economies.

  2. 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.

  3. 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.

  4. Rethinking risk management

    International Nuclear Information System (INIS)

    Kloman, H.F.

    1992-01-01

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

  5. 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?”

  6. Volume 3. Information Age Anthology: The Information Age Military

    National Research Council Canada - National Science Library

    Alberts, David S; Papp, Daniel S

    2001-01-01

    ...? What will this mean for the U.S. military? In this third volume of the Information Age Anthology we turn finally to the task of exploring answers to these simply stated but vexing questions that provided the impetus for the first two volumes...

  7. 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...

  8. Roadway related tort liability and risk management.

    Science.gov (United States)

    2010-06-01

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

  9. Risk management 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. 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)

  11. Enterprise risk management and disclosure

    Directory of Open Access Journals (Sweden)

    Nicoleta Farcane

    2008-01-01

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

  12. 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.

  13. 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.

  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. Climate Narratives: Combing multiple sources of information to develop risk management strategies for a municipal water utility

    Science.gov (United States)

    Yates, D. N.; Basdekas, L.; Rajagopalan, B.; Stewart, N.

    2013-12-01

    Municipal water utilities often develop Integrated Water Resource Plans (IWRP), with the goal of providing a reliable, sustainable water supply to customers in a cost-effective manner. Colorado Springs Utilities, a 5-service provider (potable and waste water, solid waste, natural gas and electricity) in Colorado USA, recently undertook an IWRP. where they incorporated water supply, water demand, water quality, infrastructure reliability, environmental protection, and other measures within the context of complex water rights, such as their critically important 'exchange potential'. The IWRP noted that an uncertain climate was one of the greatest sources of uncertainty to achieving a sustainable water supply to a growing community of users. We describe how historic drought, paleo-climate, and climate change projections were blended together into climate narratives that informed a suite of water resource systems models used by the utility to explore the vulnerabilities of their water systems.

  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. 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...

  18. 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…

  19. 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.

  20. 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....

  1. 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

  2. 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

  3. 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...

  4. 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.

  5. 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.

  6. Workplace road safety risk management: An investigation into Australian practices.

    Science.gov (United States)

    Warmerdam, Amanda; Newnam, Sharon; Sheppard, Dianne; Griffin, Mark; Stevenson, Mark

    2017-01-01

    In Australia, more than 30% of the traffic volume can be attributed to work-related vehicles. Although work-related driver safety has been given increasing attention in the scientific literature, it is uncertain how well this knowledge has been translated into practice in industry. It is also unclear how current practice in industry can inform scientific knowledge. The aim of the research was to use a benchmarking tool developed by the National Road Safety Partnership Program to assess industry maturity in relation to risk management practices. A total of 83 managers from a range of small, medium and large organisations were recruited through the Victorian Work Authority. Semi-structured interviews aimed at eliciting information on current organisational practices, as well as policy and procedures around work-related driving were conducted and the data mapped onto the benchmarking tool. Overall, the results demonstrated varying levels of maturity of risk management practices across organisations, highlighting the need to build accountability within organisations, improve communication practices, improve journey management, reduce vehicle-related risk, improve driver competency through an effective workplace road safety management program and review organisational incident and infringement management. The findings of the study have important implications for industry and highlight the need to review current risk management practices. Copyright © 2016 Elsevier Ltd. All rights reserved.

  7. Pipeline risk management manual ideas, techniques, and resources

    CERN Document Server

    Muhlbauer, W Kent

    2004-01-01

    Here's the ideal tool if you're looking for a flexible, straightforward analysis system for your everyday design and operations decisions. This new third edition includes sections on stations, geographical information systems, ""absolute"" versus ""relative"" risks, and the latest regulatory developments. From design to day-to-day operations and maintenance, this unique volume covers every facet of pipeline risk management, arguably the most important, definitely the most hotly debated, aspect of pipelining today.Now expanded and updated, this widely accepted standard reference guide

  8. 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)

  9. Nuclear risk management

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-07-01

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

  10. Improving Operational Risk Management Using Business Performance Management Technologies

    Directory of Open Access Journals (Sweden)

    Bram Pieket Weeserik

    2018-02-01

    Full Text Available Operational Risk Management (ORM comprises the continuous management of risks resulting from: human actions, internal processes, systems, and external events. With increasing requirements, complexity and a growing volume of risks, information systems provide benefits for integrating risk management activities and optimizing performance. Business Performance Management (BPM technologies are believed to provide a solution for effective Operational Risk Management by offering several combined technologies including: work flow, data warehousing, (advanced analytics, reporting and dashboards. BPM technologies can be integrated with an organization’s Planning & Control cycle and related to strategic objectives. This manuscript aims to show how ORM can benefit from BPM technologies via the development and practical validation of a new maturity model. The B4ORM maturity model was developed following the Design Science Research approach. The maturity model relates specific maturity levels of ORM processes with BPM technologies applicable for a specific maturity stage. There appears to be a strong relationship (0.78 with ORM process maturity and supporting BPM technologies. The B4ORM maturity model as described in this manuscript provides an ideal path of BPM technologies related to six distinctive stages of ORM, leading towards technologies suitable for continuous improvement of ORM processes and organization-wide integration.

  11. 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.

  12. 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)

  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. 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.

  15. TWRS safety and technical integration risk management plan

    International Nuclear Information System (INIS)

    Fordham, R.A.

    1996-01-01

    The objectives of the Tank Waste Remediation System (TWRS) Safety and Technical Integration (STI) programmatic risk management program are to assess, analyze, and handle risks associated with TWRS STI responsibilities and to communicate information about the actions being taken and the results to enable decision making. The objective of this TWRS STI Risk Management Plan is to communicate a consistent approach to risk management that will be used by the organization

  16. 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.

  17. From CSR to Social Risk Management

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    2014-01-01

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

  18. An Efficient Workflow Environment to Support the Collaborative Development of Actionable Climate Information Using the NCAR Climate Risk Management Engine (CRMe)

    Science.gov (United States)

    Ammann, C. M.; Vigh, J. L.; Lee, J. A.

    2016-12-01

    Society's growing needs for robust and relevant climate information have fostered an explosion in tools and frameworks for processing climate projections. Many top-down workflows might be employed to generate sets of pre-computed data and plots, frequently served in a "loading-dock style" through a metadata-enabled search and discovery engine. Despite these increasing resources, the diverse needs of applications-driven projects often result in data processing workflow requirements that cannot be fully satisfied using past approaches. In parallel to the data processing challenges, the provision of climate information to users in a form that is also usable represents a formidable challenge of its own. Finally, many users do not have the time nor the desire to synthesize and distill massive volumes of climate information to find the relevant information for their particular application. All of these considerations call for new approaches to developing actionable climate information. CRMe seeks to bridge the gap between the diversity and richness of bottom-up needs of practitioners, with discrete, structured top-down workflows typically implemented for rapid delivery. Additionally, CRMe has implemented web-based data services capable of providing focused climate information in usable form for a given location, or as spatially aggregated information for entire regions or countries following the needs of users and sectors. Making climate data actionable also involves summarizing and presenting it in concise and approachable ways. CRMe is developing the concept of dashboards, co-developed with the users, to condense the key information into a quick summary of the most relevant, curated climate data for a given discipline, application, or location, while still enabling users to efficiently conduct deeper discovery into rich datasets on an as-needed basis.

  19. 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

  20. Preoperative evaluation : risk management and implementation aspects

    NARCIS (Netherlands)

    Klei, W.A. van

    2002-01-01

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

  1. 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

  2. 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

  3. Tank waste remediation system programmatic risk management plan

    International Nuclear Information System (INIS)

    Seaver, D.A.

    1995-01-01

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

  4. 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...

  5. RISK MANAGEMENT IN CUSTOMS CONTROL

    Directory of Open Access Journals (Sweden)

    Elena Valerievna Drobot

    2017-06-01

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

  6. 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

  7. Risk Management Plan for Tank Farm Restoration and Safe Operations, Project W-314

    International Nuclear Information System (INIS)

    MCGREW, D.L.

    2000-01-01

    The Risk Management Plan for Project W-314 describes the systems, processes and procedures for implementation of applicable risk management practices described in HNF-0842, Volume IV, Section 2.6, ''Risk Management''. This plan is tailored specifically for use by Project W-314

  8. Human System Risk Management for Space Flight

    Science.gov (United States)

    Davis, Jeffrey

    2015-01-01

    2004 of evaluating the tolerance limits and safe operating bands called for in the Bioastronautics Strategy. Over the next several years, the concept of the "operating bands" were turned into Space Flight Human System Standards (SFHSS), developed by the technical resources of the SLSD at the NASA Johnson Space Center (JSC). These standards were developed and reviewed at the SLSD and then presented to the OCHMO for acceptance. The first set of standards was published in 2007 as the NASA-STD-3001, Volume 1, Crew Health that elaborated standards for several physiological areas such as cardiovascular, musculoskeletal, radiation exposure and nutrition. Volume 2, Human Factors, Habitability and Human Health was published in 2011, along with development guidance in the Human Integration Design Handbook (HIDH). Taken together, the SFHSS Volumes 1 and 2, and the HIDH replaced the NASA-STD-3000 with new standards and revisions of the older document. Three other changes were also taking place that facilitated the development of the human system risk management approach. In 2005, the life sciences research and development portfolio underwent a comprehensive review through the Exploration Systems Architecture Study (ESAS) that resulted in the reformulation of the Bioastronautics Program into Human Research Program (HRP) that was focused on appropriate mitigation results for high priority human health risks. The baseline HRP budget was established in August 2005. In addition, the OCHMO formulated the Health and Medical Technical Authority (HMTA) in 2006 that established the position of the Chief Medical Officer (CMO) at the NASA JSC along with other key technical disciplines, and the OCHMO became the responsible office for the SFHSS as noted above. The final change was the establishment in 2008 of the Human System Risk Board (HSRB), chaired by the CMO with representation from the HRP, SLSD management and technical experts. The HSRB then began to review all human system risks

  9. 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

  10. 48 CFR 1815.203-72 - Risk management.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Risk management. 1815.203-72 Section 1815.203-72 Federal Acquisition Regulations System NATIONAL AERONAUTICS AND SPACE... Proposals and Information 1815.203-72 Risk management. In all RFPs and RFOs for supplies or services for...

  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. Essentials of Risk Management. Strategic Decisions. Board Basics.

    Science.gov (United States)

    Sonenstein, Burton; Kumin, Laura A.

    1998-01-01

    This booklet, intended for trustees of institutions of higher education, offers some instruction on the principles of risk management. Introductory information provides a definition of risk management, which is seen as a planning and strategic function, not solely as a financial or safety assessment. Individual sections then address the following…

  13. 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.

  14. 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

  15. 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...

  16. Framework for systematic risk management

    International Nuclear Information System (INIS)

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

    1991-01-01

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

  17. Dairy farmer use of price risk management tools.

    Science.gov (United States)

    Wolf, C A

    2012-07-01

    Volatility in milk and feed prices can adversely affect dairy farm profitability. Many risk management tools are available for use by US dairy farmers. This research uses surveys of Michigan dairy farmers to examine the extent to which price risk management tools have been used, the farm and operator characteristics that explain the use of these tools, and reasons farmers have not used these tools. A 1999 survey was used to benchmark the degree to which dairy producers had used milk and feed price risk management instruments to compare with 2011 use rates. The surveys collected information about the farm characteristics such as herd size, farmland operated, business organization, and solvency position. Farm operator characteristics collected include age, education, and experience. Dairy farmer use of both milk and feed price risk management tools increased between 1999 and 2011. In 2011, herd size was positively related to the use of milk price risk management tools, whereas farms organized as a sole proprietorship were less likely to use them. Also in 2011, herd size and land operated were positively related to feed price risk management tools, whereas operator age was negatively related. Reasons why farmers had not used price risk management tools included basis risk, cost, lack of management time, cooperative membership, and lack of understanding. Conclusions include the need for educational programming on price risk management tools and a broader exploration of dairy farm risk management programs. Copyright © 2012 American Dairy Science Association. Published by Elsevier Inc. All rights reserved.

  18. Does Corporate Governance Impact Risk Management System?

    Directory of Open Access Journals (Sweden)

    Petre BREZEANU

    2011-04-01

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

  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 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...

  1. 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...

  2. 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 ...

  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. 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...

  5. Information architecture. Volume 1, The foundations

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-03-01

    The Information Management Planning and Architecture Coordinating Team was formed to establish an information architecture framework to meet DOE`s current and future information needs. This department- wide activity was initiated in accordance with the DOE Information Management Strategic Plan; it also supports the Departmental Strategic Plan. It recognizes recent changes in emphasis as reflected in OMB Circular A-130 and the Information Resources Management Planning Process Improvement Team recommendations. Sections of this document provides the foundation for establishing DOE`s Information Architecture: Background, Business Case (reduced duplication of effort, increased integration of activities, improved operational capabilities), Baseline (technology baseline currently in place within DOE), Vision (guiding principles for future DOE Information Architecture), Standards Process, Policy and Process Integration (describes relations between information architecture and business processes), and Next Steps. Following each section is a scenario. A glossary of terms is provided.

  6. 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.

  7. 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 ...

  8. The enterprise-wide risk management system of CNNC Lanzhou Uranium Enrichment Co., Ltd

    International Nuclear Information System (INIS)

    Liu Yinliang; Li Xuehong; Zhao Zhifu

    2010-01-01

    This paper targeted at the enterprise-wide risk management system of CNNC Lanzhou uranium enrichment co., Ltd., combining the Central enterprise-wide risk management guidelines document, outlining the main content of the overall risk management system on target, structure, process, strategy, internal control, information and culture. And it provides specific measures in evaluation and monitoring to enhance the total risk management system of CNNC Lanzhou uranium co, ltd on the basis of following the principles of total risk management system. and provides proper insurance for the overall target of risk management. (authors)

  9. 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

  10. 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.

  11. 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.

  12. 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.

  13. 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)

  14. Development of a semantically operating risk management information system using the example of the European organization for nuclear research (CERN); Entwicklung eines semantisch operierenden Risikomanagement-Informationssystems am Beispiel der Europaeischen Organisation fuer Kernforschung (CERN)

    Energy Technology Data Exchange (ETDEWEB)

    Aprin, Lars

    2013-07-01

    The term risk analysis summarises the systematic endeavour to identify and evaluate the risks within an organisation associated with projects and actions, and make it possible to regulate risks. Risk analyses are an integral component of risk management, and thus essential to consolidating safety. In that respect, the adequacy and reliability of the findings obtained by way of risk analysis directly depend on the availability and quality of the knowledge resources supplied organisationally. Access to knowledge relevant to making decisions is, however, hampered, in the real world of work through the impact of various informational barriers. Knowledge that is conducive to understanding and avoiding risks is frequently stored in very specialised database systems, the individual syntactic and semantic structures of which make it a very time-consuming and laborious operation to use such knowledge in the context of applications other than the one originally linked to the databases. In addition, a degree of ambiguity that accompanies the semi-structured nature of many documentation and reporting systems makes it difficult to process knowledge efficiently and in an automated way, for example in conjunction with search engines. This dissertation presents a contribution towards overcoming the existing knowledge barriers in risk management. To this end, the method of applying semantic methods of representing knowledge in the domain of risk analysis is proposed. The focus is on the semantic web, which -as an enhancement of the World Wide Web- makes it possible to explicitly grasp the meaning of knowledge contexts and reproduce this information. Should the present risk management be distinguished by document-based organisation and distribution of knowledge, the semantic web presents methods and tools which make it possible to put the knowledge directly to work on the data set level. Building on the latter, the concept of a semantically operating risk management information

  15. Extended School Year. Information Capsule. Volume 0910

    Science.gov (United States)

    Blazer, Christie

    2010-01-01

    Extended school years are being considered by districts around the country as educators search for new ways to raise student achievement. The addition of time to the school calendar is also supported by President Barack Obama, who recently stated that American students do not spend enough time in school. This Information Capsule addresses research…

  16. 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

  17. 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

  18. 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

  19. 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

  20. 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,…

  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. 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...

  3. 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...

  4. The process of Risk management for E-business

    Directory of Open Access Journals (Sweden)

    Erion Lekaj

    2017-07-01

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

  5. 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.

  6. Information architecture. Volume 2, Part 1: Baseline analysis summary

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-12-01

    The Department of Energy (DOE) Information Architecture, Volume 2, Baseline Analysis, is a collaborative and logical next-step effort in the processes required to produce a Departmentwide information architecture. The baseline analysis serves a diverse audience of program management and technical personnel and provides an organized way to examine the Department`s existing or de facto information architecture. A companion document to Volume 1, The Foundations, it furnishes the rationale for establishing a Departmentwide information architecture. This volume, consisting of the Baseline Analysis Summary (part 1), Baseline Analysis (part 2), and Reference Data (part 3), is of interest to readers who wish to understand how the Department`s current information architecture technologies are employed. The analysis identifies how and where current technologies support business areas, programs, sites, and corporate systems.

  7. Volume 3. Information Age Anthology: The Information Age Military

    Science.gov (United States)

    2001-03-01

    Mexico’s Zapatista wars or other such insurgencies, the underdog may have access to global information sources that mitigate his inferiority. Thus he...capabilities are nowhere near capable enough to measure the massed effects of NCW’s souped-up brand of 495Chapter 15 information warfare. Some assume that the

  8. Risk Management Challenges in Large-scale Energy PSS

    DEFF Research Database (Denmark)

    Tegeltija, Miroslava; Oehmen, Josef; Kozin, Igor

    2017-01-01

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

  9. Supply Chain Risk Management: An Introduction to the Credible Threat

    Science.gov (United States)

    2016-08-01

    van.poindexter@dau.mil. Figure 3. Trusted Suppliers Source: “ Managing Information Communications Technology Global Supply Chain Risk Awareness...Defense AT&L: July-August 2016 18 Supply Chain Risk Management An Introduction to the Credible Threat Heath Ferry n Van Poindexter 19...cybersecurity breach. This article examines the elements of supply chain risk management , the national security risks associated with exploitation, and

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

    Science.gov (United States)

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

    2015-01-01

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

  11. 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

  12. Security Notice To Federal, State and Local Officials Receiving Access to the Risk Management Program’s Off-site Consequence Analysis Information

    Science.gov (United States)

    Based on the Chemical Safety Information, Site Security and Fuels Regulatory Relief Act (CSISSFRRA), this notice states that while you may share with the public data from OCA sections, it is illegal to disclose/distribute the sections themselves.

  13. 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.

  14. 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

  15. 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...

  16. Credit risk management in banks

    OpenAIRE

    Pětníková, Tereza

    2014-01-01

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

  17. 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

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

    Directory of Open Access Journals (Sweden)

    Vlaović-Begović Sanja

    2012-01-01

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

  19. Microbial profiling, neural network and semantic web: an integrated information system for human pathogen risk management, prevention and surveillance in food safety

    Science.gov (United States)

    It is estimated that food-borne pathogens cause approximately 76 million cases of gastrointestinal illnesses, 325,000 hospitalizations, and 5,000 deaths in the United States annually. Genomic, proteomic, and metabolomic studies, particularly, genome sequencing projects are providing valuable inform...

  20. Maintenance risk management in Dayabay nuclear power plant

    International Nuclear Information System (INIS)

    He Xuhong; Tong Jiejuan

    2005-01-01

    The importance of proper maintenance to safe and reliable nuclear plant operation has long been recognized by the nuclear utility and regulatory body. This paper presents a process of maintenance risk management developed for a Chinese Nuclear Power Plant (NPP). The process includes three phases: (I) long term maintenance plan risk management, (II) monthly maintenance plan risk management, and (III) detailed risk management for high risk configuration. A risk matrix is developed for phase I whose purpose is to provide a rough guide for risk management in the making of the annual maintenance plan. For Phase II and Phase III, a software tool named Maintenance- Risk-Monitor is developed based on the internal initiating event, level 1 PSA model. The results of Phase II are the risk information of the all plant configurations caused by the unavailability of the components included the monthly maintenance plan. When the increase of core damage frequency (CDF) or the incremental core damage probability (ICDP) of a configuration is higher than the corresponding thresholds, Phase III is needed for this high risk configuration to get the useful information such as risk-importance components, human actions and initial events, from which appropriate preventive measurements could be derived. It is hoped that the provided process of maintenance risk management, together with the developed software tool, could facilitate the maintenance activities in the NPPs of China. (authors)

  1. 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.

  2. 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

  3. 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

  4. 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...

  5. Design participation as an insurance: risk-management and end-user participation in the development of information systems in healthcare organizations.

    Science.gov (United States)

    Vimarlund, V; Timpka, T

    2002-01-01

    The aim of this paper is to build a theoretical framework for analysis of when decision-makers should use end-user participation as a form of insurance for unforeseen consequences of implementing information systems in healthcare organizations. Data were collected in a case study of an information system development project in a small clinical setting. During the initial phase, the future end-users of the system were allowed to actively influence the system design and test every new tool that was considered for implementation. The results of the case study suggest that when time and effort are invested in allowing healthcare staff to participate in information system development processes, the benefits can well exceed the costs throughout the life cycle of the project. Risk-averse decision-makers fearing negative secondary consequences of a HIS, with regard to clinical work flow, will always adopt measures to prevent future failures, if they can find a possibility of shifting these risks. Therefore, they calculate the present discounted value of the effects accrued over time to the unit and predict the amount of resources they are willing to pay to acquire on insurance (such as design participation) that will protect the organization from future losses. End-user participation in the design process can be the key positive influence on the quality of the service and, thereby, organizational effectiveness. Investments in broad design participation can, consequently, be a productive activity that transforms potential current income into future benefits.

  6. Risk management and measuring productivity with POAS--Point of Act System--a medical information system as ERP (Enterprise Resource Planning) for hospital management.

    Science.gov (United States)

    Akiyama, M

    2007-01-01

    The concept of our system is not only to manage material flows, but also to provide an integrated management resource, a means of correcting errors in medical treatment, and applications to EBM (evidence-based medicine) through the data mining of medical records. Prior to the development of this system, electronic processing systems in hospitals did a poor job of accurately grasping medical practice and medical material flows. With POAS (Point of Act System), hospital managers can solve the so-called, "man, money, material, and information" issues inherent in the costs of healthcare. The POAS system synchronizes with each department system, from finance and accounting, to pharmacy, to imaging, and allows information exchange. We can manage Man (Business Process), Material (Medical Materials and Medicine), Money (Expenditure for purchase and Receipt), and Information (Medical Records) completely by this system. Our analysis has shown that this system has a remarkable investment effect - saving over four million dollars per year - through cost savings in logistics and business process efficiencies. In addition, the quality of care has been improved dramatically while error rates have been reduced - nearly to zero in some cases.

  7. 12 CFR 932.1 - Risk management.

    Science.gov (United States)

    2010-01-01

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

  8. 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...

  9. 12 CFR 917.3 - Risk management.

    Science.gov (United States)

    2010-01-01

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

  10. 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.

  11. Risk management at hazardous waste sites

    International Nuclear Information System (INIS)

    Travis, C.C.; Doty, C.B.

    1990-01-01

    The Superfund Amendments and Reauthorization Act of 1986 (SARA) provided the Environmental Protection Agency (EPA) with additional resources and direction for the identification, evaluation, and remediation of hazardous waste sites in the United States. SARA established more stringent requirements for the Superfund program, both in terms of the pace of the program and the types of remedial alternatives selected. The central requirement is that remedial alternatives be ''protective of public health and the environment'' and ''significantly and permanently'' reduce the toxicity, mobility, or volume of contaminants. The mandate also requires that potential risk be considered in the decision-making process. This document discusses risk management at hazardous waste sites. Topics include selection of sites for placement on the National Priority List, risk assessment and the decision process, risk reduction and remedial alternative selection, and aquifer restoration. 10 refs., 2 figs

  12. Resolving a double standard for risk management of thalidomide: an evaluation of two different risk management programmes in Japan.

    Science.gov (United States)

    Ooba, Nobuhiro; Sato, Tsugumichi; Watanabe, Hikaru; Kubota, Kiyoshi

    2010-01-01

    Thalidomide, once withdrawn because of its teratogenicity, has now been re-launched worldwide. In Japan, thalidomide has been imported by individual doctors since around the year 2000. In October 2008, it was approved for the treatment of multiple myeloma (MM) by the Ministry of Health, Labour and Welfare (MHLW) on the condition that the manufacturer implemented a risk management programme termed the Thalidomide Education and Risk Management System (TERMS). It is likely that the imports of thalidomide will be used off-label to treat diseases other than MM. Thus, the MHLW is also planning to introduce a web-based registration system, referred to as the Safety Management System for Unapproved Drugs (SMUD), for thalidomide imported by individual doctors. To evaluate the difference between TERMS and SMUD and establish a way to resolve the 'double standard' for risk management of thalidomide treatment in Japan. The fraction of patients with disorders other than MM was estimated by the volume of annual imports obtained from the MHLW and records of the imports for patients with MM, other oncological diseases (ODs) and non-ODs in 2007 through a major supplier covering 63% of the total imported thalidomide. The information for TERMS was obtained from web pages of the manufacturer and the MHLW. The components of TERMS were compared with those in SMUD. Provided that the distribution of the indication for thalidomide (MM) in 2007, estimated from the records of imports through the major supplier, is representative of the entire nation, it is estimated that on average 866 patients, including 851 (98.3%) with MM, are using thalidomide on any one day. However, if the major supplier's imports, which account for 63% of the total imports, are not representative of the nation as a whole, possibly only half of the patients treated with thalidomide in Japan have MM. This would be the case in a scenario where the remaining 37% of imports are exclusively used to treat disorders other than

  13. Information and communication on risks related to medications and proper use of medications for healthcare professionals and the general public: precautionary principle, risk management, communication during and in the absence of crisis situations.

    Science.gov (United States)

    Molimard, Mathieu; Bernaud, Corine; Lechat, Philippe; Bejan-Angoulvant, Theodora; Benattia, Cherif; Benkritly, Amel; Braunstein, David; Cabut, Sandrine; David, Nadine; Fourrier-Réglat, Annie; Gallet, Benoit; Gersberg, Marta; Goni, Sylvia; Jolliet, Pascale; Lamarque-Garnier, Véronique; Le Jeunne, Claire; Leurs, Irina; Liard, François; Malbezin, Muriel; Micallef, Joelle; Nguon, Marina

    2014-01-01

    Recent drug crises have highlighted the complexity, benefits and risks of medication communication. The difficulty of this communication is due to the diversity of the sources of information and the target audience, the credibility of spokespersons, the difficulty to communicate on scientific uncertainties and the precautionary principle, which is influenced by variable perceptions and tolerances of the risk. Globally, there is a lack of training in risk management with a tendency of modern society to refuse even the slightest risk. Communication on medications is subject to regulatory or legal requirements, often uses tools and messages that are not adapted to the target audience and is often based on a poor knowledge of communication techniques. In order to improve this situation, the available information must be coordinated by reinforcing the unique medication information website and by coordinating communication between authorities by means of a single spokesperson. A particular effort must be made in the field of training in the proper use and risk of medications for both the general population and patients but also for healthcare professionals, by setting up a unified academic on-line teaching platform for continuing medical education on medications and their proper use. © 2014 Société Française de Pharmacologie et de Thérapeutique.

  14. The NASA Continuous Risk Management Process

    Science.gov (United States)

    Pokorny, Frank M.

    2004-01-01

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

  15. Future Wireless Networks and Information Systems Volume 1

    CERN Document Server

    2012-01-01

    This volume contains revised and extended research articles written by prominent researchers participating in ICFWI 2011 conference. The 2011 International Conference on Future Wireless Networks and Information Systems (ICFWI 2011) has been held on November 30 ~ December 1, 2011, Macao, China. Topics covered include Wireless Information Networks, Wireless Networking Technologies, Mobile Software and Services, intelligent computing, network management, power engineering, control engineering, Signal and Image Processing, Machine Learning, Control Systems and Applications, The book will offer the states of arts of tremendous advances in Wireless Networks and Information Systems and also serve as an excellent reference work for researchers and graduate students working on Wireless Networks and Information Systems.

  16. CRISIS: A System for Risk Management

    Directory of Open Access Journals (Sweden)

    Erica Y. Sanchez

    2012-12-01

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

  17. 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

  18. 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

  19. Effective information assurance with risk management

    OpenAIRE

    Dimopoulos, Vassileios Andreas

    2007-01-01

    Today's businesses base their operation on their IT infrastructure, which consequently demands that it should be protected accordingly. Nevertheless, surveys tend to indicate that the number of IT security incidents is increasing, resulting in significant losses for the organisations concerned. Leading in poor security practices, and therefore frequent victims of related security incidents, are Small and Medium Enterprises (SMEs). Even though there are a number of solutions, ra...

  20. Risky Information: Social Limits to Risk Management

    NARCIS (Netherlands)

    P. Mascini (Peter)

    1998-01-01

    textabstractThis article demonstrates that systematic biases occur in (near-)accident reporting. This conclusion is based on a quantitative document analysis of 208 reports recently written by employees of an industrial company. The effectiveness of accident reporting, as an instrument for risk

  1. 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...

  2. 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

  3. 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.

  4. Thirteenth water reactor safety research information meeting: proceedings Volume 1

    International Nuclear Information System (INIS)

    Weiss, A.J.

    1986-02-01

    This six-volume report contains 151 papers out of the 178 that were presented at the Thirteenth Water Reactor Safety Research Information Meeting held at the National Bureau of Standards, Gaithersburg, Maryland, during the week of October 22-25, 1985. The papers are printed in the order of their presentation in each session and describe progress and results of programs in nuclear safety research conducted in this country and abroad. Foreign participation in the meeting included thirty-one different papers presented by researchers from Japan, Canada and eight European countries. The title of the papers and the names of the authors have been updated and may differ from those that appeared in the final program of the meeting. This volume presents information on: risk analysis PRA application; severe accident sequence analysis; risk analysis/dependent failure analysis; and industry safety research

  5. Risk Management Technologies With Logic and Probabilistic Models

    CERN Document Server

    Solozhentsev, E D

    2012-01-01

    This book presents intellectual, innovative, information technologies (I3-technologies) based on logical and probabilistic (LP) risk models. The technologies presented here consider such models for structurally complex systems and processes with logical links and with random events in economics and technology.  The volume describes the following components of risk management technologies: LP-calculus; classes of LP-models of risk and efficiency; procedures for different classes; special software for different classes; examples of applications; methods for the estimation of probabilities of events based on expert information. Also described are a variety of training courses in these topics. The classes of risk models treated here are: LP-modeling, LP-classification, LP-efficiency, and LP-forecasting. Particular attention is paid to LP-models of risk of failure to resolve difficult economic and technical problems. Amongst the  discussed  procedures of I3-technologies  are the construction of  LP-models,...

  6. Online professional networks for physicians: risk management.

    Science.gov (United States)

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

    2012-05-01

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

  7. 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.

  8. Increasing the information acquisition volume in iris recognition systems.

    Science.gov (United States)

    Barwick, D Shane

    2008-09-10

    A significant hurdle for the widespread adoption of iris recognition in security applications is that the typically small imaging volume for eye placement results in systems that are not user friendly. Separable cubic phase plates at the lens pupil have been shown to ameliorate this disadvantage by increasing the depth of field. However, these phase masks have limitations on how efficiently they can capture the information-bearing spatial frequencies in iris images. The performance gains in information acquisition that can be achieved by more general, nonseparable phase masks is demonstrated. A detailed design method is presented, and simulations using representative designs allow for performance comparisons.

  9. User's operating procedures. Volume 3: Projects directorate information programs

    Science.gov (United States)

    Haris, C. G.; Harris, D. K.

    1985-01-01

    A review of the user's operating procedures for the scout project automatic data system, called SPADS is presented. SPADS is the results of the past seven years of software development on a prime mini-computer. SPADS was developed as a single entry, multiple cross-reference data management and information retrieval system for the automation of Project office tasks, including engineering, financial, managerial, and clerical support. This volume, three of three, provides the instructions to operate the projects directorate information programs in data retrieval and file maintenance via the user friendly menu drivers.

  10. 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...

  11. 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

  12. Risk management in nuclear power social aspects

    International Nuclear Information System (INIS)

    Sappa, N.N.

    1996-01-01

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

  13. 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

  14. 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...

  15. Risk Management Challenges in Large-scale Energy PSS

    DEFF Research Database (Denmark)

    Tegeltija, Miroslava; Oehmen, Josef; Kozin, Igor

    2017-01-01

    data and representation of the results to the decision makers play an important role. Second, we introduce a selection of alternative, so-called “post-probabilistic”, risk management methods developed across different scientific fields to cope with uncertainty due to lack of knowledge. Possibilities......Probabilistic risk management approaches have a long tradition in engineering. A large variety of tools and techniques based on the probabilistic view of risk is available and applied in PSS practice. However, uncertainties that arise due to lack of knowledge and information are still missing...... for overcoming industrial PSS risk management challenges are suggested through application of post-probabilistic methods. We conclude with the discussion on the importance for the field to consider their application....

  16. Promoting energy efficiency investments with risk management decision tools

    International Nuclear Information System (INIS)

    Jackson, Jerry

    2010-01-01

    This paper reviews current capital budgeting practices and their impact on energy efficiency investments. The prevalent use of short payback 'rule-of-thumb' requirements to screen efficiency projects for risk is shown to bias investment choices towards 'sure bet' investments bypassing many profitable efficiency investment options. A risk management investment strategy is presented as an alternative to risk avoidance practices applied with payback thresholds. The financial industry risk management tool Value-at-Risk is described and extended to provide an Energy-Budgets-at-Risk or EBaR risk management analysis to convey more accurate energy efficiency investment risk information. The paper concludes with recommendations to expand the use of Value-at-Risk-type energy efficiency analysis.

  17. Market analysis and risk management of EU emissions trading

    International Nuclear Information System (INIS)

    Ollikainen, M.; Ollikka, K.; Aatola, P.; Ahonen, H.M.; Pohjola, T.; Kumpulainen, A.; Lappalainen, E.

    2006-01-01

    The first EU emissions trading period commenced on 1 January 2005. It implies new challenges to companies included in the scheme. A central challenge is the uncertainty related to the markets. In order to manage risks and profitability companies need to be able to estimate future price developments of emission allowances. University of Helsinki is conducting a research project in cooperation with Helsinki University of Technology that will provide necessary information for analyzing emission allowance markets and create risk management competence. The objectives of the research project are 1) to develop a price estimation model for EU emission allowances and 2) to develop risk management competence related to EU emission allowances. With the price estimation model the short-term price developments of EU emission allowances can be estimated. By utilizing the model companies can reduce uncertainties related to the markets. The project will also deliver a general risk management model for emission allowances that aims at improving competitiveness of companies. (orig.)

  18. Safety risk management of underground engineering in China: Progress, challenges and strategies

    Directory of Open Access Journals (Sweden)

    Qihu Qian

    2016-08-01

    Full Text Available Underground construction in China is featured by large scale, high speed, long construction period, complex operation and frustrating situations regarding project safety. Various accidents have been reported from time to time, resulting in serious social impact and huge economic loss. This paper presents the main progress in the safety risk management of underground engineering in China over the last decade, i.e. (1 establishment of laws and regulations for safety risk management of underground engineering, (2 implementation of the safety risk management plan, (3 establishment of decision support system for risk management and early-warning based on information technology, and (4 strengthening the study on safety risk management, prediction and prevention. Based on the analysis of the typical accidents in China in the last decade, the new challenges in the safety risk management for underground engineering are identified as follows: (1 control of unsafe human behaviors; (2 technological innovation in safety risk management; and (3 design of safety risk management regulations. Finally, the strategies for safety risk management of underground engineering in China are proposed in six aspects, i.e. the safety risk management system and policy, law, administration, economy, education and technology.

  19. Risk management and disaster recovery planning for online libraries.

    Science.gov (United States)

    Uzwyshyn, Ray

    2015-01-01

    This article presents an overview of risk management and disaster recovery planning for online libraries. It is suitable for a broad audience interested in online libraries and research centers in universities and colleges. It outlines risk mitigation strategies, and disaster recover planning for online resource-centered information systems.

  20. Executive Assistant – Risk Management and Internal Audit / Office of ...

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

    Under the supervision of the Director, Risk Management and Internal Audit, the ... filing system which includes ensuring all information related to RMIA's activities is ... Maintains reliable accounting/budgeting records of fees and expenditures ... The Executive Assistant's responsibilites have a direct impact on Director's and ...

  1. 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 ...

  2. 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

  3. COORDINATES OF A RISK MANAGEMENT PROJECT

    Directory of Open Access Journals (Sweden)

    ALEXANDRU OLTEANU

    2013-05-01

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

  4. Developing risk management dashboards using risk and quality measures: A visual best practices approach.

    Science.gov (United States)

    Bunting, Robert F; Siegal, Dana

    2017-10-01

    Because quality measures are ubiquitous, health care risk management leaders often use them as a proxy for risk management measures. While certain quality measures adequately reflect some aspects of risk management, they are neither a perfect nor complete substitute for well-developed and comprehensive risk management measures. Using a comprehensive approach consisting of quality measures, risk measures, and measures that are less amenable to classification would be the best approach. Identifying the most powerful and informative measures, designing the most appropriate dashboards, and incorporating visual best practices are crucial steps required for evaluating the effectiveness and value of an enterprise risk management program. The authors explain the terms and concepts, review the measures available in the literature, propose new measures, discuss visual best practices, and provide sample dashboard components. © 2017 American Society for Healthcare Risk Management of the American Hospital Association.

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

    CERN Document Server

    Lu, Jie; Zhang, Guangquan

    2012-01-01

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

  6. 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...

  7. Marine and Hydrokinetic Technology Development Risk Management Framework

    Energy Technology Data Exchange (ETDEWEB)

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

    2015-09-01

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

  8. Risk Management Techniques and Practice Workshop Workshop Report

    Energy Technology Data Exchange (ETDEWEB)

    Quinn, T; Zosel, M

    2008-12-02

    vendor technical or business problems. HPC, by its very nature, is an exercise in multi-level risk management. Every aspect of stewarding HPCCs into the petascale era, from identification of the program drivers to the details of procurement actions and simulation environment component deployments, represents unprecedented challenges and requires effective risk management. The fundamental purpose of this workshop was to go beyond risk management processes as such and learn how to weave effective risk management practices, techniques, and methods into all aspects of migrating HPCCs into the next generation of leadership computing systems. This workshop was a follow-on to the Petascale System Integration Workshop hosted by Lawrence Berkeley National Laboratory (LBNL)/NERSC last year. It was intended to leverage and extend the risk management experience of the participants by looking for common best practices and unique processes that have been especially successful. This workshop assessed the effectiveness of tools and techniques that are or could be helpful in HPCC risk management, with a special emphasis on how practice meets process. As the saying goes: 'In theory, there is no difference between theory and practice. In practice there is'. Finally, the workshop brought together a network of experts who shared information as technology moves into the petascale era and beyond.

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

    Science.gov (United States)

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

    2013-01-01

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

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

    OpenAIRE

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

    2012-01-01

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

  11. Risk management in facility transition and management decision making: Needs and opportunities

    International Nuclear Information System (INIS)

    Stillwell, W.; Seaver, D.; Keller, J.; Smith, D.; Weaver, D.; Sanders, T.; Thullen, P.

    1993-02-01

    An overall approach to risk management is described in this paper. Many of these concepts have been developed and applied as part of Hanford Mission Planning (HMP) (Hanford Mission Plan, 1992). At Hanford, HMP provides a mechanism for integrating planning across all the missions and programs of the site. This paper discusses the decision context within which EM must make and defend decisions, the types of decisions that are being and will need to be made in order to progress with the cleanup of the DOE complex, and the resulting need for risk management. Risk management, in turn, requires quality health and ecological risk information to make these decisions. Other types of information are also needed, but the risk information is typically the most important and the most difficult to obtain. The paper then describes a general technical approach to risk management, including particular methods for developing the high quality of human health and ecological risk information that will be needed to support risk management. We next turn to several special issues that make risk management more complex than many other decisions. We discuss these issues and offer some practical suggestions with respect to addressing them in the risk management framework. Finally, we conclude with some discussion of other opportunities for applying risk management

  12. A DDC Bibliography on Computers in Information Sciences. Volume I. Information Sciences Series.

    Science.gov (United States)

    Defense Documentation Center, Alexandria, VA.

    The unclassified and unlimited bibliography compiles references dealing specifically with the role of computers in information sciences. The volume contains 249 annotated references grouped under two major headings: Time Shared, On-Line, and Real Time Systems, and Computer Components. The references are arranged in accesion number (AD-number)…

  13. A DDC Bibliography on Computers in Information Sciences. Volume II. Information Sciences Series.

    Science.gov (United States)

    Defense Documentation Center, Alexandria, VA.

    The unclassified and unlimited bibliography compiles references dealing specifically with the role of computers in information sciences. The volume contains 239 annotated references grouped under three major headings: Artificial and Programming Languages, Computer Processing of Analog Data, and Computer Processing of Digital Data. The references…

  14. Uncertainty and Risk Management in Cyber Situational Awareness

    Science.gov (United States)

    Li, Jason; Ou, Xinming; Rajagopalan, Raj

    Handling cyber threats unavoidably needs to deal with both uncertain and imprecise information. What we can observe as potential malicious activities can seldom give us 100% confidence on important questions we care about, e.g. what machines are compromised and what damage has been incurred. In security planning, we need information on how likely a vulnerability can lead to a successful compromise to better balance security and functionality, performance, and ease of use. These information are at best qualitative and are often vague and imprecise. In cyber situational awareness, we have to rely on such imperfect information to detect real attacks and to prevent an attack from happening through appropriate risk management. This chapter surveys existing technologies in handling uncertainty and risk management in cyber situational awareness.

  15. Principles of quantum computation and information volume II

    International Nuclear Information System (INIS)

    Kok, P

    2007-01-01

    Any new textbook in quantum information has some pretty strong competition to contend with. Not only is there the classic text by Nielsen and Chuang from 2000, but also John Preskill's lecture notes, available for free online. Nevertheless, a proper textbook seems more enduring than online notes, and the field has progressed considerably in the seven years since Nielsen and Chuang was published. A new textbook is a great opportunity to give a snapshot of our current state of knowledge in quantum information. Therein also lies a problem: The field has expanded so much that it is impossible to cover everything at the undergraduate level. Quantum information theory is relevant to an extremely large portion of physics, from solid state and condensed matter physics to particle physics. Every discipline that has some relation to quantum mechanics is affected by our understanding of quantum information theory. Those who wish to write a book on quantum information therefore have to make some profound choices: Do you keep the ultimate aim of a quantum computer in mind, or do you focus on quantum communication and precision measurements as well? Do you describe how to build a quantum computer with all possible physical systems or do you present only the underlying principles? Do you include only the tried and tested ideas, or will you also explore more speculative directions? You don't have to take a black-or-white stance on these questions, but how you approach them will profoundly determine the character of your book. The authors of 'Principles of Quantum Computation and Information (Volume II: Basic Tools and Special Topics)' have chosen to focus on the construction of quantum computers, but restrict themselves mainly to general techniques. Only in the last chapter do they explicitly address the issues that arise in the different implementations. The book is the second volume in a series, and consists of four chapters (labelled 5 to 8) called 'Quantum Information Theory

  16. 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...

  17. 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

  18. 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.

  19. 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.

  20. 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”.

  1. Development of configuration risk management tool

    International Nuclear Information System (INIS)

    Masuda, Takahiro; Doi, Eiji

    2003-01-01

    Tokyo Electric Power Company (referred to as TEPCO hereinafter), and other Japanese utilities as well, have been trying to improve the capacity factor of their Nuclear Power Plants (NPPs) through modernization of Operation and Maintenance strategy. TEPCO intends to apply risk information to O and M field with maintaining or even improving both safety and production efficiency. Under these situations, TEPCO with some BWR utilities started to develop a Configuration Risk Management (CRM) tool that can estimate risk in various plant conditions due to configuration changes during outage. Moreover, we also intend to apply CRM to on-line maintenance (OLM) in the near future. This tool can calculate the Core Damage Frequency (CDF) according to given plant condition, such as SSCs availability, decay heat level and the inventory of coolant in both outage state and full-power operation. From deterministic viewpoint, whether certain configuration meet the related requirements of Technical Specifications. User-friendly interface is one of the important features of this tool because this enables the site engineers with little experience in PSA to quantify and utilize the risk information by this tool. (author)

  2. Risk Management Considerations for Interoperable Acquisition

    National Research Council Canada - National Science Library

    Meyers, B. C

    2006-01-01

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

  3. 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.

  4. 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...

  5. 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

  6. 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.

  7. 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.

  8. Risk management integration into complex project organizations

    Science.gov (United States)

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

    2002-01-01

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

  9. [The relevance of clinical risk management].

    Science.gov (United States)

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

    2011-01-01

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

  10. 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.

  11. 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.

  12. 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

  13. Small Business and the Risk Management Program

    Science.gov (United States)

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

  14. 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...

  15. 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...

  16. Effects of Risk Management Practices on IT Project Success

    Directory of Open Access Journals (Sweden)

    Pimchangthong Daranee

    2017-03-01

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

  17. Improving Our Odds: Success through Continuous Risk Management

    Science.gov (United States)

    Greenhalgh, Phillip O.

    2009-01-01

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

  18. 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

  19. 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

  20. Hanford Tanks Initiative risk management guide

    International Nuclear Information System (INIS)

    Schaus, P.S.

    1997-01-01

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

  1. 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...

  2. 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...

  3. 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 ...

  4. 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...

  5. 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.

  6. 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.

  7. 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...

  8. Reinforced soil structures. Volume II, Summary of research and systems information

    Science.gov (United States)

    1989-11-01

    Volume II was essentially prepared as an Appendix of supporting information for Volume I. This volume contains much of the supporting theory and a summary of the research used to verify the design approach contained in Volume I, as well as general in...

  9. Integrating risk management into the baselining process

    International Nuclear Information System (INIS)

    Jennett, N.; Tonkinson, A.

    1994-01-01

    These processes work together in building the project (comprised of the technical, schedule, and cost baselines) against which performance is measured and changes to the scope, schedule and cost of a project are managed and controlled. Risk analysis is often performed as the final element of the scheduling or estimating processes, a precursor to establishing cost and schedule contingency. However, best business practices dictate that information that may be crucial to the success of a project be analyzed and incorporated into project planning as soon as it is available and usable. The purpose or risk management is not to eliminate risk. Neither is it intended to suggest wholesale re-estimating and re-scheduling of a project. Rather, the intent is to make provisions to reduce and control the schedule and/or cost ramifications of risk by anticipating events and conditions that cannot be reliably planned for and which have the potential to negatively impact accomplishment of the technical objectives and requirements of the project

  10. Environmental risk management for pharmaceutical compounds

    Energy Technology Data Exchange (ETDEWEB)

    Voulvoulis, N [Imperial College London (United Kingdom)

    2004-09-15

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

  11. Environmental risk management for pharmaceutical compounds

    Energy Technology Data Exchange (ETDEWEB)

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

    2004-09-15

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

  12. 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...

  13. COMPLIANCE AS FACTORING BUSINESS RISK MANAGEMENT: CONTROL ASPECTS

    Directory of Open Access Journals (Sweden)

    V.K. Makarovych

    2016-03-01

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

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

    Science.gov (United States)

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

  15. 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.

  16. 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

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

    Science.gov (United States)

    Raftery, Michael; Carter-Journet, Katrina

    2013-01-01

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

  18. Wildfire Risk Management: Challenges and Opportunities

    Science.gov (United States)

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

    2014-12-01

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

  19. 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)

  20. [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.

  1. 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.

  2. Integrated risk management in South Africa: between technological features and organisational reality

    CSIR Research Space (South Africa)

    Simonis, I

    2009-01-01

    Full Text Available cost interoperable information and communication technology (ICT) solutions to effectively mitigate disaster risk by addressing all phases of disaster risk management from risk assessment to recovery; paving the way to improved risk governance...

  3. Large dams and risk management

    International Nuclear Information System (INIS)

    Cazelais, N.

    2003-01-01

    closely monitors climate change studies worldwide because the climate changes that scientists are predicting could generate new risk factors in terms of precipitation volumes and distribution. 4 figs

  4. 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...

  5. 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....

  6. Probability distributions in risk management operations

    CERN Document Server

    Artikis, Constantinos

    2015-01-01

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

  7. 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

  8. 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.

  9. An approach for risk management and regulatory applications

    International Nuclear Information System (INIS)

    Wong, See-Meng

    2000-01-01

    This paper discusses the development and potential applications of a PRA methodology for risk management and regulatory applications in the U.S. nuclear industry. The new PRA methodology centers on the development of time-dependent configuration risk profiles 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 development of risk profiles. (author)

  10. 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

  11. Protection planning and risk management at Lawrence Livermore National Laboratory

    International Nuclear Information System (INIS)

    Hunt, J.S.; Altman, W.D.; Hockert, J.W.

    1988-01-01

    Effective safeguards and security management begins with comprehensive strategic planning that synthesizes protection objectives, threat information, existing protection capabilities, consequences of protection failure, and the costs and impacts of safeguards changes into cost effective protection strategies that adequately address credible threats. Lawrence Livermore National Laboratory (LLNL) has developed a structured risk management approach to safeguards and security planning that is designed to lead to protection strategies that are cost effective, meet the intent of Department of Energy (DOE) orders, balance protection needs with programmatic priorities, and acknowledge a level of residual risks that is not cost effective to eliminate. This risk management approach to safeguards decision making was used to develop the first DOE-approved Master Safeguards and Security Agreement (MSSA) that addresses all security interests at a major facility including: special nuclear material, classified information and materials, computer and communication security, and other DOE property. This risk management approach also provides the strategic basis for day-to-day management of the LLNL security program as well as the integration of safeguards program upgrades

  12. 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

  13. Risk management in a competitive electricity market

    International Nuclear Information System (INIS)

    Liu, Min; Wu, Felix F.

    2007-01-01

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

  14. RISK MANAGEMENT COMPANIES AND HEDGE ACCOUNTING

    Directory of Open Access Journals (Sweden)

    SABIN ARMĂŞELU

    2014-12-01

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

  15. 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)

  16. 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

  17. Probabilistic economic frameworks for disaster risk management

    Science.gov (United States)

    Dulac, Guillaume; Forni, Marc

    2013-04-01

    Starting from the general concept of risk, we set up an economic analysis framework for Disaster Risk Management (DRM) investment. It builds on uncertainty management techniques - notably Monte Carlo simulations - and includes both a risk and performance metrics adapted to recurring issues in disaster risk management as entertained by governments and international organisations. This type of framework proves to be enlightening in several regards, and is thought to ease the promotion of DRM projects as "investments" rather than "costs to be born" and allow for meaningful comparison between DRM and other sectors. We then look at the specificities of disaster risk investments of medium to large scales through this framework, where some "invariants" can be identified, notably: (i) it makes more sense to perform analysis over long-term horizons -space and time scales are somewhat linked; (ii) profiling of the fluctuations of the gains and losses of DRM investments over long periods requires the ability to handle possibly highly volatile variables; (iii) complexity increases with the scale which results in a higher sensitivity of the analytic framework on the results; (iv) as the perimeter of analysis (time, theme and space-wise) is widened, intrinsic parameters of the project tend to weight lighter. This puts DRM in a very different perspective from traditional modelling, which usually builds on more intrinsic features of the disaster as it relates to the scientific knowledge about hazard(s). As models hardly accommodate for such complexity or "data entropy" (they require highly structured inputs), there is a need for a complementary approach to understand risk at global scale. The proposed framework suggests opting for flexible ad hoc modelling of specific issues consistent with one's objective, risk and performance metrics. Such tailored solutions are strongly context-dependant (time and budget, sensitivity of the studied variable in the economic framework) and can

  18. [Risk management for endoscopic surgery].

    Science.gov (United States)

    Kimura, Taizo

    2010-05-01

    The number of medical accidents in endoscopic surgery has recently increased. Surgical complications caused by inadequate preparation or immature technique or those resulting in serious adverse outcomes may be referred to as medical accidents. The Nationwide Survey of Endoscopic Surgery showed that bile duct injury and uncontrollable bleeding were seen in 0.68% and in 0.58%, respectively, of cholecystectomy patients; interoperative and postoperative complications in 0.84% and in 3.8%, respectively, of gastric cancer surgery patients; and operative complications in 6.74% of bowel surgery patients. Some required open repair, and 49 patients died. The characteristic causes of complications in endoscopic surgery are a misunderstanding of anatomy, handling of organs outside the visual field, burn by electrocautery, and injuries caused by forceps. Bleeding that requires a laparotomy for hemostasis is also a complication. Furthermore, since the surgery is usually videorecorded, immature techniques resulting in complications are easily discovered. To decrease the frequency of accidents, education through textbooks and seminars, training using training boxes, simulators, or animals, proper selection of the surgeon depending on the difficulty of the procedure, a low threshold for conversion to laparotomy, and use of the best optical equipment and surgical instruments are important. To avoid malpractice lawsuits, informed consent obtained before surgery and proper communication after accidents are necessary.

  19. Perceptions of food risk management among key stakeholders

    DEFF Research Database (Denmark)

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

    2006-01-01

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

  20. 77 FR 30517 - Electricity Subsector Cybersecurity Risk Management Process

    Science.gov (United States)

    2012-05-23

    ... DEPARTMENT OF ENERGY Electricity Subsector Cybersecurity Risk Management Process AGENCY: Office of... Electricity Subsector Cybersecurity Risk Management Process guideline. The guideline describes a risk... Management Process. The primary goal of this guideline is to describe a risk management process that is...

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

    Science.gov (United States)

    Bauder, Stephen P.

    2014-01-01

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

  2. Knowledge management in support of enterprise risk management

    OpenAIRE

    Rodriguez, Eduardo; Edwards, John S.

    2014-01-01

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

  3. 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...

  4. Economic optimisation of flood risk management projects

    NARCIS (Netherlands)

    Tsimopoulou, V.

    2015-01-01

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

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

    African Journals Online (AJOL)

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

  6. 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.

  7. 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…

  8. Board of directors and risk management

    NARCIS (Netherlands)

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

    2013-01-01

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

  9. 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 ...

  10. 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

  11. 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.

  12. 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.

  13. 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.

  14. 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.

  15. Estimation of lung volumes from chest radiographs using shape information

    International Nuclear Information System (INIS)

    Pierce, R.J.; Brown, D.J.; Holmes, M.; Cumming, G.; Denison, D.M.

    1979-01-01

    The cross-sectional shapes of the chest and its contained structures were assessed in post-mortem anatomical sections and from computerised tomographic scans in living subjects. These shapes are described by simple equations that can be used to increase the accuracy of measuring lung volumes from chest radiographs. Radiographic estimates of total lung capacity, using the equations, were compared with plethysmographic and single-breath helium dilution measurements in 35 normal subjects. After correction for posture effects the radiographic estimates of TLC, which measure the displacement volume of the lung, exceeded the plethysmographic estimates of contained gas volume by a mean of 720 ml, which was taken as the volume of tissue, blood, and water in the lungs. The single-breath dilution estimates of TLC fell short of the plethysmographic values by a mean of 480 ml, taken as the volume of contained gas that was inaccessible to helium in 10 seconds. The tomographic studies suggested that the radiographic technique of measuring lung displacement volumes has an accuracy of +- 210 ml. The method is rapid and simple to use and the intra- and inter-observer variabilities of <1% and <5% respectively. (author)

  16. Shutdown risk management applied at Philadelphia Electric Company

    International Nuclear Information System (INIS)

    Dagan, William J.; True, Douglas E.; Wilson, Thomas; Truax, William

    2004-01-01

    The development and implementation of an effective risk management program requires basic risk or safety knowledge and the conversion of such information into effective management tools. ERIN Engineering and Research, Inc., under contract to the Electric Power Research Institute, has developed an effective program. Outage Risk Assessment and Management (ORAM), to provide plant and management personnel with understandable results of shutdown risk studies. With this tool, the impact of plans and decision options can be readily determined and displayed for the decision maker. This paper describes these methods and their application to the Limerick Nuclear Station of Philadelphia Electric Company. It also sets forth a broader application of these methods to include support of management decisions at-power and following forced outages. The result is an integrated risk management framework which can allow management and technical personnel to utilize readily available and understandable risk insights to optimize each activity. This paper addresses the resolution of several key issues in detail: How was the ORAM risk management method employed to represent the existing plant shutdown procedures and policies? How did the ORAM risk management method enhance the decision-making ability of the outage management staff? How was the ORAM software efficiently integrated with the outage scheduling software? How is quantitative risk information generated and used for outage planning and control? The ORAM risk management philosophy utilizes a series of colors to depict various risk configurations. Each such configuration has associated with it clear guidance. By modifying the conditions existing in the plant it is possible to impact the type of risk being encountered as well as the guidance which is appropriate for that period. In addition, the duration of a particular configuration can be effectively managed to reduce the overall risk impact. These are achieved with minimal

  17. Market Analysis and Risk Management of EU Emissions Trading - MARMET

    International Nuclear Information System (INIS)

    Ollikainen, M.; Aatola, P.; Ollikka, K.; Kumpulainen, A.; Pohjola, T.; Lappalainen, E.

    2007-01-01

    The first period of the EU Emissions Trading Scheme (EU ETS) commenced on January 1st 2005. It implies new challenges to companies included in the scheme. A central challenge is the uncertainty related to the markets. In order to manage their risks and profitability companies need to be able to estimate future price developments of emission allowances. The University of Helsinki is conducting a research project in cooperation with the Helsinki University of Technology that will provide necessary information for analyzing European Union emission allowance (EUA) markets and create risk management competence. The objectives of the research project are (1) to develop a price estimation model for EU emission allowances and (2) to develop risk management competence related to EU ETS. With the price estimation model the short-term price developments of EUAs can be estimated. By utilizing the model companies can reduce uncertainties related to the markets. The project also delivers a general risk management model for EU ETS that aims at improving competitiveness of companies. (orig.)

  18. Insights from implementation of a risk management methodology

    International Nuclear Information System (INIS)

    Mahn, J.A.; Germann, R.P.; Jacobs, R.R.

    1992-01-01

    In 1988, GPU Nuclear (GPUN) Corporation embarked on a research effort to identify or develop an appropriate methodology for proactively managing risks. The objective of this effort was to increase its ability to identify potential risks and to aid resource allocation decision making for risk control. Such a methodology was presented at a risk management symposium sponsored by GPUN in September of 1989. A pilot project based on this methodology has been conducted at GPUN to test and validate the elements of the methodology and to compare the results of its application with current corporate methods for guiding risk decision making. The pilot project also led to a follow-up policy-capturing study to elicit information about the various risk decision-making models of GPUN decision makers. The combination of these endeavors provided an opportunity to gain numerous insights with respect to understanding the real value of a risk management process, obtaining acceptance of and commitment to risk management and improving operational aspects of the methodology

  19. Imaging X-Ray Polarimetry Explorer (IXPE) Risk Management

    Science.gov (United States)

    Alexander, Cheryl; Deininger, William D.; Baggett, Randy; Primo, Attina; Bowen, Mike; Cowart, Chris; Del Monte, Ettore; Ingram, Lindsey; Kalinowski, William; Kelley, Anthony; hide

    2018-01-01

    The Imaging X-ray Polarimetry Explorer (IXPE) project is an international collaboration to build and fly a polarization sensitive X-ray observatory. The IXPE Observatory consists of the spacecraft and payload. The payload is composed of three X-ray telescopes, each consisting of a mirror module optical assembly and a polarization-sensitive X-ray detector assembly; a deployable boom maintains the focal length between the optical assemblies and the detectors. The goal of the IXPE Mission is to provide new information about the origins of cosmic X-rays and their interactions with matter and gravity as they travel through space. IXPE will do this by exploiting its unique capability to measure the polarization of X-rays emitted by cosmic sources. The collaboration for IXPE involves national and international partners during design, fabrication, assembly, integration, test, and operations. The full collaboration includes NASA Marshall Space Flight Center (MSFC), Ball Aerospace, the Italian Space Agency (ASI), the Italian Institute of Astrophysics and Space Planetology (IAPS)/Italian National Institute of Astrophysics (INAF), the Italian National Institute for Nuclear Physics (INFN), the University of Colorado (CU) Laboratory for Atmospheric and Space Physics (LASP), Stanford University, McGill University, and the Massachusetts Institute of Technology. The goal of this paper is to discuss risk management as it applies to the IXPE project. The full IXPE Team participates in risk management providing both unique challenges and advantages for project risk management. Risk management is being employed in all phases of the IXPE Project, but is particularly important during planning and initial execution-the current phase of the IXPE Project. The discussion will address IXPE risk strategies and responsibilities, along with the IXPE management process which includes risk identification, risk assessment, risk response, and risk monitoring, control, and reporting.

  20. Building the Joint Battlespace Infosphere. Volume 2: Interactive Information Technologies

    National Research Council Canada - National Science Library

    McCarthy, J

    1999-01-01

    The Joint Battlespace Infosphere (JBI) is a combat information management system that provides individual users with the specific information required for their functional responsibilities during crisis or conflict...

  1. 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.

  2. The Professionalization of Risk Management: What Role can the ISO 31000 Risk Management Principles Play?

    DEFF Research Database (Denmark)

    Olechowski, Alison; Oehmen, Josef; Seering, W.

    2016-01-01

    an empirical investigation and discussion of the eleven principles of the ISO 31000:2009 Risk Management Standard via a large-scale survey of engineering and product development practitioners. Adhering to the risk management principles at a high level was found to be a significant factor in better reaching......Risk management is increasingly seen as a means of improving the likelihood of success in complex engineering projects. Yet the presence of a legitimacy gap, driven by the lack of empirical validation of published best practices, might explain low adoption of risk management on projects. We present...... cost, schedule, technical and customer targets, in addition to achieving a more stable project execution. This finding suggests that, rather than a single rigid standard or an ever-changing set of detailed methods, the ISO principles have potential to be the basis for our shared understanding of best...

  3. Security engineering: systems engineering of security through the adaptation and application of risk management

    Science.gov (United States)

    Gilliam, David P.; Feather, Martin S.

    2004-01-01

    Information Technology (IT) Security Risk Management is a critical task in the organization, which must protect its resources and data against the loss of confidentiality, integrity, and availability. As systems become more complex and diverse, and more vulnerabilities are discovered while attacks from intrusions and malicious content increase, it is becoming increasingly difficult to manage IT security. This paper describes an approach to address IT security risk through risk management and mitigation in both the institution and in the project life cycle.

  4. Social and behavioral research on risk: uses in risk management decision-making

    International Nuclear Information System (INIS)

    Covello, V.T.

    1984-01-01

    The overall objective of this paper is to describe the principal uses of social and behavioral research in risk management decision-making. Five such uses are identified and discussed, including uses in (1) identifying the nature and extent of public concern; (2) structuring public debate and resolving conflicts; (3) anticipating public responses to new technologies; (4) conducting and informing the public; and (5) designing and implementing risk management policies and systems. (author)

  5. ASME nuclear codes and standards risk management strategic planning

    International Nuclear Information System (INIS)

    Hill, Ralph S. III; Balkey, Kenneth R.; Erler, Bryan A.; Wesley Rowley, C.

    2007-01-01

    This paper is prepared in honor and in memory of the late Professor Emeritus Yasuhide Asada to recognize his contributions to ASME Nuclear Codes and Standards initiatives, particularly those related to risk-informed technology and System Based Code developments. For nearly two decades, numerous risk-informed initiatives have been completed or are under development within the ASME Nuclear Codes and Standards organization. In order to properly manage the numerous initiatives currently underway or planned for the future, the ASME Board on Nuclear Codes and Standards (BNCS) has an established Risk Management Strategic Plan (Plan) that is maintained and updated by the ASME BNCS Risk Management Task Group. This paper presents the latest approved version of the plan beginning with a background of applications completed to date, including the recent probabilistic risk assessment (PRA) standards developments for nuclear power plant applications. The paper discusses planned applications within ASME Nuclear Codes and Standards that will require expansion of the ASME PRA Standard to support new advanced light water reactor and next generation reactor developments, such as for high temperature gas-cooled reactors. Emerging regulatory developments related to risk-informed, performance- based approaches are summarized. A long-term vision for the potential development and evolution to a nuclear systems code that adopts a risk-informed approach across a facility life-cycle (design, construction, operation, maintenance, and closure) is also summarized. Finally, near term and long term actions are defined across the ASME Nuclear Codes and Standards organizations related to risk management, including related U.S. regulatory activities. (author)

  6. Information and Communication Technologies in Africa Volume 1 ...

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

    Volume 1 looks at the introduction, adoption, and utilization of ICTs at the community level. In various contexts – geographical, technological, socioeconomic, cultural, and institutional – the book explores the questions of community participation. It looks at how communities in sub-Saharan Africa have reacted to the changes ...

  7. Operational risk management for a NPP

    Energy Technology Data Exchange (ETDEWEB)

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

    2013-07-01

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

  8. Decision support for utility environmental risk management

    International Nuclear Information System (INIS)

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

    1991-01-01

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

  9. Radiation risk management at DOE accelerator facilities

    International Nuclear Information System (INIS)

    Dyck, O.B. van.

    1997-01-01

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

  10. Mainstreaming disaster risk management in higher education

    Directory of Open Access Journals (Sweden)

    MARCIA VILLASANA

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

  11. 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.)

  12. Loss Database Architecture for Disaster Risk Management

    OpenAIRE

    RIOS DIAZ FRANCISCO; MARIN FERRER MONTSERRAT

    2018-01-01

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

  13. 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

  14. 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.

  15. Sun Protection; A risk management approach

    Science.gov (United States)

    Diffey, Brian

    2017-10-01

    Sun Protection differentiates itself from other texts by adopting a risk-management approach to determine whether, how, and in what circumstances, harm might be caused, and to explore the feasibility of various strategies in controlling exposure to solar UV radiation. This multi-disciplinary book covers topics from climatology through human exposure to sunlight, as well as biological and clinical effects of UV radiation to physical and chemical strategies for photoprotection.

  16. Critical infrastructure cyber-security risk management

    OpenAIRE

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

    2017-01-01

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

  17. 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 ...

  18. 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

  19. 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.

  20. On the strategic value of risk management

    OpenAIRE

    Léautier, Thomas-Olivier; Rochet, Jean-Charles

    2012-01-01

    This article examines how firms facing volatile input prices and holding some degree of market power in their product market link their risk management and their production or pricing strategies. This issue is relevant in many industries ranging from manufacturing to energy retailing, where risk averse firms decide on their hedging strategies before their product market strategies. We find that hedging modifies the pricing and production strategies of firms. This strategic effect is channelle...

  1. 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.

  2. 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...

  3. IMAGE information monitoring and applied graphics software environment. Volume 4. Applications description

    International Nuclear Information System (INIS)

    Hallam, J.W.; Ng, K.B.; Upham, G.L.

    1986-09-01

    The EPRI Information Monitoring and Applied Graphics Environment (IMAGE) system is designed for 'fast proto-typing' of advanced concepts for computer-aided plant operations tools. It is a flexible software system which can be used for rapidly creating, dynamically driving and evaluating advanced operator aid displays. The software is written to be both host computer and graphic device independent. This four volume report includes an Executive Overview of the IMAGE package (Volume 1), followed by Software Description (Volume II), User's Guide (Volume III), and Description of Example Applications (Volume IV)

  4. Lessons Learned in Risk Management on NCSX

    International Nuclear Information System (INIS)

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

    2010-01-01

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

  5. Lessons Learned in Risk Management on NCSX

    International Nuclear Information System (INIS)

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

    2009-01-01

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

  6. Sustainable Risk Management in the Banking Sector

    Directory of Open Access Journals (Sweden)

    Županović Ivo

    2014-01-01

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

  7. Case histories in pharmaceutical risk management.

    Science.gov (United States)

    McCormick, Cynthia G; Henningfield, Jack E; Haddox, J David; Varughese, Sajan; Lindholm, Anders; Rosen, Susan; Wissel, Janne; Waxman, Deborah; Carter, Lawrence P; Seeger, Vickie; Johnson, Rolley E

    2009-12-01

    The development and implementation of programs in the U.S. to minimize risks and assess unintended consequences of new medications has been increasingly required by the Food and Drug Administration (FDA) since the mid 1990s. This paper provides four case histories of risk management and post-marketing surveillance programs utilized recently to address problems associated with possible abuse, dependence and diversion. The pharmaceutical sponsors of each of these drugs were invited to present their programs and followed a similar template for their summaries that are included in this article. The drugs and presenting companies were OxyContin, an analgesic marketed by Purdue Pharma L.P., Daytrana and Vyvanse, ADHD medications marketed by Shire Pharmaceuticals, Xyrem for narcolepsy marketed by Jazz Pharmaceuticals, and Subutex and Suboxone for opioid dependence marketed by Reckitt Benckiser Pharmaceuticals Inc. These case histories and subsequent discussions provide invaluable real-world examples and illustrate both the promise of risk management programs in providing a path to market and/or for keeping on the market drugs with serious potential risks. They also illustrate the limitations of such programs in actually controlling unintended consequences, as well as the challenge of finding the right balance of reducing risks without posing undue barriers to patient access. These experiences are highly relevant as the FDA increasingly requires pharmaceutical sponsors to develop and implement the more formalized and enforceable versions of the risk management term Risk Evaluation and Mitigation Strategies (REMS).

  8. 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.

  9. Implementing a risk management program at Falconbridge

    International Nuclear Information System (INIS)

    Blechta, G.

    2003-01-01

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

  10. Model of Axiological Dimension Risk Management

    Directory of Open Access Journals (Sweden)

    Kulińska Ewa

    2016-01-01

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

  11. 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.

  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. 78 FR 75238 - Federal Housing Administration (FHA) Risk Management Initiatives: New Manual Underwriting...

    Science.gov (United States)

    2013-12-11

    ...-AJ07 Federal Housing Administration (FHA) Risk Management Initiatives: New Manual Underwriting... case numbers assigned on or after a date to be established by Mortgagee Letter following publication of... constrained. FHA played this role in the recent housing crisis, and the volume of FHA insurance increased...

  14. The background and theory of integrated risk management

    Science.gov (United States)

    Hunsucker, John L.

    1995-01-01

    While all good managers have always considered risk in their decision making, only recently have formal programs to do so been introduced. This report covers the logical structure behind the formulation of an integrated risk management plan (IRM). Included in the report are factors forcing the development of a formal plan to consider risk, the basic objective or purpose of an IRM, and desirable traits of such a plan. The report moves on to a discussion of background issues, seeks to formalize some definitions, and then discusses required information on threats. The report concludes with the steps for an IRM.

  15. Climatology in support of climate risk management : a progress report.

    OpenAIRE

    McGregor, G.R.

    2015-01-01

    Climate risk management has emerged over the last decade as a distinct area of activity within the wider field of climatology. Its focus is on integrating climate and non-climate information in order to enhance the decision-making process in a wide range of climate-sensitive sectors of society, the economy and the environment. Given the burgeoning pure and applied climate science literature that addresses a range of climate risks, the purpose of this progress report is to provide an overview ...

  16. Risk management in electricity markets emphasizing transmission congestion

    International Nuclear Information System (INIS)

    Kristiansen, Tarjei

    2004-01-01

    of inefficiencies associated with ignoring losses when utilizing area (zonal) pricing, and an application of an integrated risk management model on the power system of Norway's second largest hydropower producer. The most important research findings include the following issues. First, Contracts for Differences in the Nordic market appear to be over-priced. Second, a merchant long-term financial transmission rights model is possible to realize in mathematical and economic terms. Third, by including the proceeds from a financial transmission right auction the independent system operator can issue a higher volume of rights because there is a relationship between the congestion rent, the proceeds from the auction and the payments to the financial transmission rights holders. Next, an integrated risk management model is applicable on large-scale power systems. Then, an overview is presented of different contractual arrangements that can be used to hedge transmission congestion risks. Finally, empirical data from existing financial transmission rights markets demonstrate how these markets work. (author)

  17. Preliminary safety information document for the standard MHTGR. Volume 4

    Energy Technology Data Exchange (ETDEWEB)

    None

    1986-01-01

    This report contains information concerning: operational radionuclide control; occupational radiation protection, conduct of operations; initial test program; safety analysis; technical specifications; and quality assurance. (JDB)

  18. Risk management among mountain bikers in selected clubs in ...

    African Journals Online (AJOL)

    Risk management among mountain bikers in selected clubs in Malaysia. ... Journal of Fundamental and Applied Sciences. Journal Home · ABOUT ... is more risky. Keywords: mountain biking, risk management, event management, Malaysia ...

  19. FM 100-14, Risk Management, 23 April 1998

    National Research Council Canada - National Science Library

    1998-01-01

    .... Risk management is an effective process for preserving resources. FM 100-14 describes the principles, procedures, and responsibilities to successfully apply the risk management process to conserve combat power and resources...

  20. 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...

  1. Methodical Approaches to Risk Management in a Regional Commercial Bank

    Directory of Open Access Journals (Sweden)

    Elena Vladimirovna Altukhova

    2016-03-01

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

  2. Securing the energy industry : perspectives in security risk management

    Energy Technology Data Exchange (ETDEWEB)

    Hurd, G.L. [Anadarko Canada Corp., Calgary, AB (Canada)

    2003-07-01

    This presentation offered some perspectives in security risk management as it relates to the energy sector. Since the events of September 11, 2001 much attention has been given to terrorism and the business is reviewing protection strategies. The paper made reference to each of the following vulnerabilities in the energy sector: information technology, globalization, business restructuring, interdependencies, political/regulatory change, and physical/human factors. The vulnerability of information technology is that it can be subject to cyber and virus attacks. Dangers of globalization lie in privacy and information security, forced nationalization, organized crime, and anti-globalization efforts. It was noted that the Y2K phenomenon provided valuable lessons regarding interdependencies and the effects of power outages, water availability, transportation disruption, common utility corridor accidents, and compounding incidents. The paper also noted the conflict between the government's desire to have a resilient infrastructure that can withstand and recover from attacks versus a company's ability to afford this capability. The physical/human factors that need to be considered in risk management include crime, domestic terrorism, and disasters such as natural disasters, industrial disasters and crisis. The energy industry has geographically dispersed vulnerable systems. It has done a fair job of physical security and has good emergency management practices, but it was noted that the industry cannot protect against all threats. A strategy of vigilance and awareness is needed to deal with threats. Other strategies include contingency planning, physical security, employee communication, and emergency response plans. tabs., figs.

  3. Risk Management for Point-of-Care Testing

    OpenAIRE

    James, H. Nichols

    2014-01-01

    Point-of-care testing (POCT) is growing in popularity, and with this growth comes an increased chance of errors. Risk management is a way to reduce errors. Originally developed for the manufacturing industry, risk management principles have application for improving the quality of test results in the clinical laboratory. The Clinical and Laboratory Standards Institute (CLSI), EP23-A Laboratory Quality Control based on Risk Management guideline, introduces risk management to the clinical labor...

  4. Proactive supply chain risk management approach: The case of Serbia

    OpenAIRE

    Anđelković Aleksandra

    2017-01-01

    Supply chain risk management has become imperative. Therefore, needs for proactive supply chain risk management continuously is growing. Proactive supply chain risk management is not a great problem in developed countries. The problem is present in transition countries and underdeveloped countries. In those countries has not been built awareness about the importance of networking through supply chains and risk management within the supply chain. One of them...

  5. Risk management activities at the DOE Class A reactor facilities

    International Nuclear Information System (INIS)

    Sharp, D.A.; Hill, D.J.; Linn, M.A.; Atkinson, S.A.; Hu, J.P.

    1993-01-01

    The probabilistic risk assessment (PRA) and risk management group of the Association for Excellence in Reactor Operation (AERO) develops risk management initiatives and standards to improve operation and increase safety of the DOE Class A reactor facilities. Principal risk management applications that have been implemented at each facility are reviewed. The status of a program to develop guidelines for risk management programs at reactor facilities is presented

  6. Peculiarities of the risk management system organization in current conditions

    OpenAIRE

    MIKHIN P.O.

    2014-01-01

    Risk-management system organization problem is topical nowadays. The innovation activity is defined as an activity vulnerable to risk and needs more attention. The basic approaches and elements of organization structure development in risk-management system are considered to find out the best structure for business modelling usage. Balance and combination of risk-management system types are required in current conditions.

  7. Risk managements' communicative effects influencing IT project success

    NARCIS (Netherlands)

    de Bakker, Karel; Boonstra, Albert; Wortmann, Hans

    The central question of this research is if, and how, risk management contributes to the success of IS/IT projects. Risk management is used regularly in IT projects, despite indications in literature that risk management only occasionally contributes to IT project success. Drawing on Habermas we

  8. 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.

  9. 76 FR 3697 - Risk Management Requirements for Derivatives Clearing Organizations

    Science.gov (United States)

    2011-01-20

    ... Part II Commodity Futures Trading Commission 17 CFR Part 39 Risk Management Requirements for... RIN 3038-AC98 Risk Management Requirements for Derivatives Clearing Organizations AGENCY: Commodity... (Participant and Product Eligibility), D (Risk Management), E (Settlement Procedures), F (Treatment of Funds...

  10. 7 CFR 760.104 - Risk management purchase requirements.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Risk management purchase requirements. 760.104 Section... Agricultural Disaster Assistance Programs § 760.104 Risk management purchase requirements. (a) To be eligible... available from the USDA Risk Management Agency (RMA)) obtained catastrophic coverage or better under a...

  11. 78 FR 36784 - Survey of Nanomaterial Risk Management Practices

    Science.gov (United States)

    2013-06-19

    ...-0010, Docket Number NIOSH-265] Survey of Nanomaterial Risk Management Practices AGENCY: National...), Department of Health and Human Services (HHS). ACTION: Proposed NIOSH Survey of Nanomaterial Risk Management... questions addressing risk management practices for ENMs? (5) What should be the maximum amount of time...

  12. 12 CFR 704.6 - Credit risk management.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Credit risk management. 704.6 Section 704.6... CREDIT UNIONS § 704.6 Credit risk management. (a) Policies. A corporate credit union must operate according to a credit risk management policy that is commensurate with the investment risks and activities...

  13. 76 FR 57723 - Electricity Sector Cybersecurity Risk Management Process Guideline

    Science.gov (United States)

    2011-09-16

    ... DEPARTMENT OF ENERGY Electricity Sector Cybersecurity Risk Management Process Guideline AGENCY... public comment on DOE's intent to publish the Electricity Sector Cybersecurity Risk Management Process Guideline. The guideline describes a risk management process that is targeted to the specific needs of...

  14. Process-based project proposal risk management

    Directory of Open Access Journals (Sweden)

    Alok Kumar

    2016-12-01

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

  15. An Open Distributed Architecture for Sensor Networks for Risk Management

    Directory of Open Access Journals (Sweden)

    Ralf Denzer

    2008-03-01

    Full Text Available Sensors provide some of the basic input data for risk management of natural andman-made hazards. Here the word ‘sensors’ covers everything from remote sensingsatellites, providing invaluable images of large regions, through instruments installed on theEarth’s surface to instruments situated in deep boreholes and on the sea floor, providinghighly-detailed point-based information from single sites. Data from such sensors is used inall stages of risk management, from hazard, vulnerability and risk assessment in the preeventphase, information to provide on-site help during the crisis phase through to data toaid in recovery following an event. Because data from sensors play such an important part inimproving understanding of the causes of risk and consequently in its mitigation,considerable investment has been made in the construction and maintenance of highlysophisticatedsensor networks. In spite of the ubiquitous need for information from sensornetworks, the use of such data is hampered in many ways. Firstly, information about thepresence and capabilities of sensor networks operating in a region is difficult to obtain dueto a lack of easily available and usable meta-information. Secondly, once sensor networkshave been identified their data it is often difficult to access due to a lack of interoperability between dissemination and acquisition systems. Thirdly, the transfer and processing ofinformation from sensors is limited, again by incompatibilities between systems. Therefore,the current situation leads to a lack of efficiency and limited use of the available data thathas an important role to play in risk mitigation. In view of this situation, the EuropeanCommission (EC is funding a number of Integrated Projects within the Sixth FrameworkProgramme concerned with improving the accessibility of data and services for riskmanagement. Two of these projects: ‘Open Architecture and Spatial Data

  16. 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)

  17. Das COSO Enterprise Risk Management-Framework

    OpenAIRE

    Ruud, Flemming; Reichert, Felix

    2007-01-01

    Der Verwaltungsrat und die Geschäftsleitung tragen die Verantwortung, ein Internes Kontrollsystem (IKS) im Unternehmen auszugestalten. Ab dem Geschäftsjahr 2008 wird die Existenz eines IKS durch den externen Revisor geprüft (Art. 728a, 728b revOR). Auch sind im Anhang Angaben über die Durchführung einer Risikobeurteilung zu publizieren (Art. 663b revOR). Das Enterprise-Risk-Management-Framework von COSO (COSO ERM) kann als Führungsinstrument helfen, wichtige Chancen und Risiken zu erkennen...

  18. 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.

  19. The Risk Management of Minimum Return Guarantees

    Directory of Open Access Journals (Sweden)

    Antje Mahayni

    2008-05-01

    Full Text Available Contracts paying a guaranteed minimum rate of return and a fraction of a positive excess rate, which is specified relative to a benchmark portfolio, are closely related to unit-linked life-insurance products and can be considered as alternatives to direct investment in the underlying benchmark. They contain an embedded power option, and the key issue is the tractable and realistic hedging of this option, in order to rigorously justify valuation by arbitrage arguments and prevent the guarantees from becoming uncontrollable liabilities to the issuer. We show how to determine the contract parameters conservatively and implement robust risk-management strategies.

  20. 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.

  1. COORDINATES OF A RISK MANAGEMENT PROJECT

    OpenAIRE

    ALEXANDRU OLTEANU; MĂDĂLINA ANTOANETA RĂDOI

    2013-01-01

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

  2. Remarks on Interest Rate Risk Management

    Directory of Open Access Journals (Sweden)

    Elena-Violeta DRAGOI

    2016-12-01

    Full Text Available Bank interest and interest rate risk management is a contemporary subject and for socio-economic environment of Romania cause serious consequences in the level of economic development. The purpose of this research is to highlight the main indicator that measures the total cost of a loan, namely the annual percentage rate (APR, because if we refer to an interest rate lower, at first glance that loan seems more advantageous, but at a closer look, taking into account the commissions charged by the bank, we see that the loan is more expensive compared to another, whose interest rate is higher.

  3. Risk management on nuclear power plant. Application of probabilistic risk assessment

    International Nuclear Information System (INIS)

    Kojima, Shigeo

    2003-01-01

    In U.S.A., nuclear safety regulation is moving to risk-informed regulation (RIR), so necessity of a standard to provide contents of probabilistic risk assessment (PRA) constructing its roots has been discussed for a long time. In 1998, the Committee on Nuclear Risk Management (CNRM) of the American Society of Mechanical Engineers (ASME) began to investigate the standard, of which last edition was published as the Standard for Probabilistic Risk Management for Nuclear Power Plant Applications: RA-S-2002 (PRMA) on April, 2002. As in the Committee, the Nuclear Regulatory Commission (NRC), electric power companies, national institutes, PRA specialists, and so on took parts to carry out many discussions with full energies of participants on risk management in U.S.A., the standard was finished after about four years' efforts. In U.S.A., risk management having already used PRA is successfully practiced, U.S.A. is at a stage with more advancing steps of the risk management than Japan is. Here was described on the standard of PRA and a concrete method of the risk management carried out at nuclear power stations. (G.K.)

  4. ASME nuclear codes and standards risk management strategic plan

    International Nuclear Information System (INIS)

    Balkey, Kenneth R.

    2003-01-01

    Over the past 15 years, several risk-informed initiatives have been completed or are under development within the ASME Nuclear Codes and Standards organization. In order to better manage the numerous initiatives in the future, the ASME Board on Nuclear Codes and Standards has recently developed and approved a Risk Management Strategic Plan. This paper presents the latest approved version of the plan beginning with a background of applications completed to date, including the recent issuance of the ASME Standard for Probabilistic Risk Assessment (PRA) for Nuclear Power Plant Applications. The paper discusses potential applications within ASME Nuclear Codes and Standards that may require expansion of the PRA Standard, such as for new generation reactors, or the development of new PRA Standards. A long-term vision for the potential development and evolution to a nuclear systems code that adopts a risk-informed approach across a facility life-cycle (design, construction, operation, maintenance, and closure) is summarized. Finally, near term and long term actions are defined across the ASME Nuclear Codes and Standards organizations related to risk management, and related U.S. regulatory activities are also summarized. (author)

  5. Risk management guidelines for petroleum storage tank sites

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-10-01

    These guidelines provide a site management process designed particularly for soil and groundwater pollution originating from existing or former petroleum storage tank (PST) facilities and provide uniform standards for the remediation of polluted PST sites in Alberta. The numerical criteria, risk management objectives and technical information described in this document were compiled from four documents including Remediation Guidelines for Petroleum Storage Tank Sites 1994, the Canada-Wide Standards for Petroleum Hydrocarbons in Soil, Alberta Soil and Water Quality Guidelines for Hydrocarbons at Upstream Oil and Gas Facilities, and Guidelines for Managing Risks at Contaminated Sites in Alberta. The changes in these updated guidelines reflect new remediation criteria and provide a process for determining alternate site-specific management objectives for more petroleum storage tank sites. The guidelines were developed using a risk-based approach that ensures the protection of human health, safety and the environment. The guidelines apply to aboveground and underground storage tank facilities that contain gasoline, diesel, heating oil, and aviation fuel. The guidelines specify requirements by Alberta Environment and the Alberta Fire Code. The chapter on risk management process included information on site investigation, determination of soil type, pollution source removal, land use assessment, selection of exposure pathways, depth of remediation, human inhalation and groundwater protection pathways, and verification of remediation. figs, 4 tabs., 2 appendices.

  6. 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

  7. User's operating procedures. Volume 1: Scout project information programs

    Science.gov (United States)

    Harris, C. G.; Harris, D. K.

    1985-01-01

    A review of the user's operating procedures for the Scout Project Automatic Data System, called SPADS is given. SPADS is the result of the past seven years of software development on a Prime minicomputer located at the Scout Project Office. SPADS was developed as a single entry, multiple cross reference data management and information retrieval system for the automation of Project office tasks, including engineering, financial, managerial, and clerical support. The instructions to operate the Scout Project Information programs in data retrieval and file maintenance via the user friendly menu drivers is presented.

  8. Risk management with regard to the effect of human factors

    Directory of Open Access Journals (Sweden)

    I. A. Kiseleva

    2016-01-01

    Full Text Available One of the most important components in today's market is a party decision-making under risk and uncertainty. The first step in making such decisions - to adequately process the information for estimating the future value of assets and the interests of investors probabilities of each particular scenario. The next step is to choose the alternative that has the greatest utility for the investor. Each of these steps is associated with numerous difficulties, the roots of which stem from the specificity of human psychology. The article notes that 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 being formed-tion, the problem of a clear comprehensive definition of “risk” becomes now particularly relevant-ness. The article deals with along with economic forecasts of the risks and the human factor in decision-tions solutions. Along with economic forecasts, the report focuses on psychological problems and attempts to take into account the human factor in decision-making at the forecast of risks arising in the company. The important parameters are the status and position of the person in the society, as well as its social well-being. Analysis Meto-ing risk assessment concluded that the need to develop new models and methods of risk management, taking into account the four-lovecheskogo factor. Economic psychology and its applications have developed into a special branch of economic knowledge - the so-called behavioral economics, which surely develops a wide range of economic issues - from the actual theory of individual behavior to the problems of public choice and the financial economy. The most interesting item is the fact that the concept of “risk” is considered from different points of view - as the economist-mathematician with the position, and a psychologist.

  9. Improving risk management: from lame excuses to principled practice.

    Science.gov (United States)

    Paté-Cornell, Elisabeth; Cox, Louis Anthony

    2014-07-01

    The three classic pillars of risk analysis are risk assessment (how big is the risk and how sure can we be?), risk management (what shall we do about it?), and risk communication (what shall we say about it, to whom, when, and how?). We propose two complements as important parts of these three bases: risk attribution (who or what addressable conditions actually caused an accident or loss?) and learning from experience about risk reduction (what works, and how well?). Failures in complex systems usually evoke blame, often with insufficient attention to root causes of failure, including some aspects of the situation, design decisions, or social norms and culture. Focusing on blame, however, can inhibit effective learning, instead eliciting excuses to deflect attention and perceived culpability. Productive understanding of what went wrong, and how to do better, thus requires moving past recrimination and excuses. This article identifies common blame-shifting "lame excuses" for poor risk management. These generally contribute little to effective improvements and may leave real risks and preventable causes unaddressed. We propose principles from risk and decision sciences and organizational design to improve results. These start with organizational leadership. More specifically, they include: deliberate testing and learning-especially from near-misses and accident precursors; careful causal analysis of accidents; risk quantification; candid expression of uncertainties about costs and benefits of risk-reduction options; optimization of tradeoffs between gathering additional information and immediate action; promotion of safety culture; and mindful allocation of people, responsibilities, and resources to reduce risks. We propose that these principles provide sound foundations for improving successful risk management. © 2014 Society for Risk Analysis.

  10. Are Social Networking Websites Educational? Information Capsule. Volume 0909

    Science.gov (United States)

    Blazer, Christie

    2009-01-01

    More and more school districts across the country are joining social networking sites, such as Facebook and MySpace. This Information Capsule discusses the frequency with which school districts are using social networking sites, how districts are using the sites, and potential drawbacks associated with their use. Issues for districts to consider…

  11. Dynamic Volume Holography and Optical Information Processing by Raman Scattering

    International Nuclear Information System (INIS)

    Dodin, I.Y.; Fisch, N.J.

    2002-01-01

    A method of producing holograms of three-dimensional optical pulses is proposed. It is shown that both the amplitude and the phase profile of three-dimensional optical pulse can be stored in dynamic perturbations of a Raman medium, such as plasma. By employing Raman scattering in a nonlinear medium, information carried by a laser pulse can be captured in the form of a slowly propagating low-frequency wave that persists for a time large compared with the pulse duration. If such a hologram is then probed with a short laser pulse, the information stored in the medium can be retrieved in a second scattered electromagnetic wave. The recording and retrieving processes can conserve robustly the pulse shape, thus enabling the recording and retrieving with fidelity of information stored in optical signals. While storing or reading the pulse structure, the optical information can be processed as an analogue or digital signal, which allows simultaneous transformation of three-dimensional continuous images or computing discrete arrays of binary data. By adjusting the phase fronts of the reference pulses, one can also perform focusing, redirecting, and other types of transformation of the output pulses

  12. 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.

  13. Information management system study results. Volume 1: IMS study results

    Science.gov (United States)

    1971-01-01

    The information management system (IMS) special emphasis task was performed as an adjunct to the modular space station study, with the objective of providing extended depth of analysis and design in selected key areas of the information management system. Specific objectives included: (1) in-depth studies of IMS requirements and design approaches; (2) design and fabricate breadboard hardware for demonstration and verification of design concepts; (3) provide a technological base to identify potential design problems and influence long range planning (4) develop hardware and techniques to permit long duration, low cost, manned space operations; (5) support SR&T areas where techniques or equipment are considered inadequate; and (6) permit an overall understanding of the IMS as an integrated component of the space station.

  14. Advances in Computer Science and Information Engineering Volume 2

    CERN Document Server

    Lin, Sally

    2012-01-01

    CSIE2012 is an integrated conference concentrating its focus on Computer Science and Information Engineering . In the proceeding, you can learn much more knowledge about Computer Science and Information Engineering of researchers from all around the world. The main role of the proceeding is to be used as an exchange pillar for researchers who are working in the mentioned fields. In order to meet the high quality of Springer, AISC series, the organization committee has made their efforts to do the following things. Firstly, poor quality paper has been refused after reviewing course by anonymous referee experts. Secondly, periodically review meetings have been held around the reviewers about five times for exchanging reviewing suggestions. Finally, the conference organizers had several preliminary sessions before the conference. Through efforts of different people and departments, the conference will be successful and fruitful.

  15. Advances in Computer Science and Information Engineering Volume 1

    CERN Document Server

    Lin, Sally

    2012-01-01

    CSIE2012 is an integrated conference concentrating its focus on Computer Science and Information Engineering . In the proceeding, you can learn much more knowledge about Computer Science and Information Engineering of researchers from all around the world. The main role of the proceeding is to be used as an exchange pillar for researchers who are working in the mentioned fields. In order to meet the high quality of Springer, AISC series, the organization committee has made their efforts to do the following things. Firstly, poor quality paper has been refused after reviewing course by anonymous referee experts. Secondly, periodically review meetings have been held around the reviewers about five times for exchanging reviewing suggestions. Finally, the conference organizers had several preliminary sessions before the conference. Through efforts of different people and departments, the conference will be successful and fruitful.

  16. Cyanobacterial toxins: risk management for health protection

    International Nuclear Information System (INIS)

    Codd, Geoffrey A.; Morrison, Louise F.; Metcalf, James S.

    2005-01-01

    This paper reviews the occurrence and properties of cyanobacterial toxins, with reference to the recognition and management of the human health risks which they may present. Mass populations of toxin-producing cyanobacteria in natural and controlled waterbodies include blooms and scums of planktonic species, and mats and biofilms of benthic species. Toxic cyanobacterial populations have been reported in freshwaters in over 45 countries, and in numerous brackish, coastal, and marine environments. The principal toxigenic genera are listed. Known sources of the families of cyanobacterial toxins (hepato-, neuro-, and cytotoxins, irritants, and gastrointestinal toxins) are briefly discussed. Key procedures in the risk management of cyanobacterial toxins and cells are reviewed, including derivations (where sufficient data are available) of tolerable daily intakes (TDIs) and guideline values (GVs) with reference to the toxins in drinking water, and guideline levels for toxigenic cyanobacteria in bathing waters. Uncertainties and some gaps in knowledge are also discussed, including the importance of exposure media (animal and plant foods), in addition to potable and recreational waters. Finally, we present an outline of steps to develop and implement risk management strategies for cyanobacterial cells and toxins in waterbodies, with recent applications and the integration of Hazard Assessment Critical Control Point (HACCP) principles

  17. Risk management, derivatives and shariah compliance

    Science.gov (United States)

    Bacha, Obiyathulla Ismath

    2013-04-01

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

  18. Bisphenol A and risk management ethics.

    Science.gov (United States)

    Resnik, David B; Elliott, Kevin C

    2015-03-01

    It is widely recognized that endocrine disrupting compounds, such as Bisphenol A, pose challenges for traditional paradigms in toxicology, insofar as these substances appear to have a wider range of low-dose effects than previously recognized. These compounds also pose challenges for ethics and policymaking. When a chemical does not have significant low-dose effects, regulators can allow it to be introduced into commerce or the environment, provided that procedures and rules are in place to keep exposures below an acceptable level. This option allows society to maximize the benefits from the use of the chemical while minimizing risks to human health or the environment, and it represents a compromise between competing values. When it is not possible to establish acceptable exposure levels for chemicals that pose significant health or environmental risks, the most reasonable options for risk management may be to enact either partial or complete bans on their use. These options create greater moral conflict than other risk management strategies, leaving policymakers difficult choices between competing values. © 2014 John Wiley & Sons Ltd.

  19. Risk Management Education for Kentucky Farm Women

    Directory of Open Access Journals (Sweden)

    Jennifer L. Hunter

    2013-06-01

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

  20. Risk management methodology for RBMN project

    International Nuclear Information System (INIS)

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

    2013-01-01

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

  1. 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

  2. The precautionary principle and pharmaceutical risk management.

    Science.gov (United States)

    Callréus, Torbjörn

    2005-01-01

    Although it is often vigorously contested and has several different formulations, the precautionary principle has in recent decades guided environmental policy making in the face of scientific uncertainty. Originating from a criticism of traditional risk assessment, the key element of the precautionary principle is the justification for acting in the face of uncertain knowledge about risks. In the light of its growing invocation in various areas that are related to public health and recently in relation to drug safety issues, this article presents an introductory review of the main elements of the precautionary principle and some arguments conveyed by its advocates and opponents. A comparison of the characteristics of pharmaceutical risk management and environmental policy making (i.e. the setting within which the precautionary principle evolved), indicates that several important differences exist. If believed to be of relevance, in order to avoid arbitrary and unpredictable decision making, both the interpretation and possible application of the precautionary principle need to be adapted to the conditions of pharmaceutical risk management.

  3. Risk Management in IT Governance Framework

    Directory of Open Access Journals (Sweden)

    Mirela GHEORGHE

    2011-12-01

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

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

    International Nuclear Information System (INIS)

    Chakraborty, S.

    1992-01-01

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

  5. NASA Risk Management Handbook. Version 1.0

    Science.gov (United States)

    Dezfuli, Homayoon; Benjamin, Allan; Everett, Christopher; Maggio, Gaspare; Stamatelatos, Michael; Youngblood, Robert; Guarro, Sergio; Rutledge, Peter; Sherrard, James; Smith, Curtis; hide

    2011-01-01

    The purpose of this handbook is to provide guidance for implementing the Risk Management (RM) requirements of NASA Procedural Requirements (NPR) document NPR 8000.4A, Agency Risk Management Procedural Requirements [1], with a specific focus on programs and projects, and applying to each level of the NASA organizational hierarchy as requirements flow down. This handbook supports RM application within the NASA systems engineering process, and is a complement to the guidance contained in NASA/SP-2007-6105, NASA Systems Engineering Handbook [2]. Specifically, this handbook provides guidance that is applicable to the common technical processes of Technical Risk Management and Decision Analysis established by NPR 7123.1A, NASA Systems Engineering Process and Requirements [3]. These processes are part of the \\Systems Engineering Engine. (Figure 1) that is used to drive the development of the system and associated work products to satisfy stakeholder expectations in all mission execution domains, including safety, technical, cost, and schedule. Like NPR 7123.1A, NPR 8000.4A is a discipline-oriented NPR that intersects with product-oriented NPRs such as NPR 7120.5D, NASA Space Flight Program and Project Management Requirements [4]; NPR 7120.7, NASA Information Technology and Institutional Infrastructure Program and Project Management Requirements [5]; and NPR 7120.8, NASA Research and Technology Program and Project Management Requirements [6]. In much the same way that the NASA Systems Engineering Handbook is intended to provide guidance on the implementation of NPR 7123.1A, this handbook is intended to provide guidance on the implementation of NPR 8000.4A. 1.2 Scope and Depth This handbook provides guidance for conducting RM in the context of NASA program and project life cycles, which produce derived requirements in accordance with existing systems engineering practices that flow down through the NASA organizational hierarchy. The guidance in this handbook is not meant

  6. Soft Computing in Information Communication Technology Volume 2

    CERN Document Server

    2012-01-01

    This book is a collection of the accepted papers concerning soft computing in information communication technology. The resultant dissemination of the latest research results, and the exchanges of views concerning the future research directions to be taken in this field makes the work of immense value to all those having an interest in the topics covered. The present book represents a cooperative effort to seek out the best strategies for effecting improvements in the quality and the reliability of Fuzzy Logic, Machine Learning, Cryptography, Pattern Recognition, Bioinformatics, Biomedical Engineering, Advancements in ICT.

  7. Dynamic operational risk management at industrial irradiation plants

    International Nuclear Information System (INIS)

    Wieland, Patricia; Lustosa, Leonardo J.

    2010-01-01

    Although feasibility studies indicate that industrial irradiation can be sound business, some initiatives fail in few years. In Brazil, the operation of some industrial irradiation plants has been discontinued in spite of the growing export market for tropical fruits like mangoes and papayas, of which Brazil is one of the major producers. This paper discusses the overall aspects of the food irradiation in Brazil, singles out dynamic operation risk management as an important need and provides suggestions for further developments. This research work involves literature review as well as interviews with irradiation industry stake holders in order to identify the ORs and to assess the situation in a logical and integrated way. The results show that public acceptance is not a major issue for the food preservation industry in Brazil. On the contrary, evidences show that there is public support, provided that information on the subject is disseminated among consumers. Need for improvements have been detected in the areas of industrial operational risk management, external relations for export, and regulatory issues, among others to support decision making in establishing and developing industrial food irradiation capabilities to serve Brazilian tropical fruit exports. (author)

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

    Science.gov (United States)

    Hollingsworth, Kristen; Toscani, Michael

    2013-04-01

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

  9. Y2K, embedded chips, casualty hazards and due diligence in healthcare risk management.

    Science.gov (United States)

    Childers, J R

    1998-01-01

    Y2K raises challenges for healthcare risk managers that go beyond information technology issues. This article explains that (1) too little public attention is being paid to equipment which may well have Y2K faults and (2) few standards have been articulated for dealing with problems. Healthcare risk managers therefore must return to basic due diligence principles and develop their own standards and protocols. The article explains how to do due diligence and outlines suggested steps for dealing with the non-information technology side of compliance due diligence.

  10. Strengthening the management of ESA - the Inter-Directorate Reform of Corporate and Risk Management

    Science.gov (United States)

    Feustel-Büechl, Jörg; Arend, Harald; Derio, Eric; Infante, Giovanni; Kreiner, Gerhard; Phaler, Jesse; Tabbert, Michael

    2007-02-01

    ESA has undertaken the Inter-Directorate Reform of Corporate and Risk Management to strengthen the Agency's internal operations. The reform was completed at the end of 2006, encompassing five dedicated projects on Risk Management, Agency-Wide Controlling System, Project Plan and Integrated Project Review, General Budget Structure and Charging Policy, and Corporate Information Systems. It has contributed to improved management of the Agency's internal operations by engaging all internal stakeholders in a common objective, introducing improvements to planning and management methods, elaborating consolidated information structures and tools, contributing to enhanced transparency and accountability, and by providing qualified new policies, processes and tools.

  11. Disaster Risk Management - The Kenyan Challenges

    Science.gov (United States)

    Nabutola, W.

    2009-04-01

    opportunities they see for Kenyans. EXPECTED OUTCOMES OF MY STUDY • Petition for and inform the need for the establishment and development of an Integrated Disaster Risk Management Centre in Kenya • Enhance a national contingency management bill to cater for the increased frequency and variety of disasters in Kenya • Set up a national awareness campaign of potential risks in Kenyans' daily endeavours, including Early Warning Systems, perhaps with support from those who have had to deal with similar, like the European Union, and devise ways and means to mitigate them when they occur. Better still work on well tested methods of preventing their happening in the first place. • Decentralize the whole issue of management of disasters considering that they can occur anywhere in the country and a response from Nairobi is not useful if it takes hours to reach the point of reference LESSONS LEARNT I am curious to establish what lessons we have learnt to inform the way we manage disasters in general and natural disasters in particular. Disasters are getting more frightening and intense. The advancement in technology should be useful in dealing with disasters. Given the recent events in 2008 alone, we need to commit much more resources to research and development to deal with disasters however they are caused. We should work towards being able to continue with our lives regardless of the risks and disasters that come our way as individuals and as a nation, by designing a strategy and policies that have worked elsewhere.

  12. Disaster Risk Management - The Kenyan Challenge

    Science.gov (United States)

    Nabutola, W.; Scheer, S.

    2009-04-01

    opportunities they see for Kenyans. EXPECTED OUTCOMES OF MY STUDY • Petition for and inform the need for the establishment and development of an Integrated Disaster Risk Management Centre in Kenya • Enhance a national contingency management bill to cater for the increased frequency and variety of disasters in Kenya • Set up a national awareness campaign of potential risks in Kenyans' daily endeavours, including Early Warning Systems, perhaps with support from those who have had to deal with similar, like the European Union, and devise ways and means to mitigate them when they occur. Better still work on well tested methods of preventing their happening in the first place. • Decentralize the whole issue of management of disasters considering that they can occur anywhere in the country and a response from Nairobi is not useful if it takes hours to reach the point of reference LESSONS LEARNT I am curious to establish what lessons we have learnt to inform the way we manage disasters in general and natural disasters in particular. Disasters are getting more frightening and intense. The advancement in technology should be useful in dealing with disasters. Given the recent events in 2008 alone, we need to commit much more resources to research and development to deal with disasters however they are caused. We should work towards being able to continue with our lives regardless of the risks and disasters that come our way as individuals and as a nation, by designing a strategy and policies that have worked elsewhere.

  13. GLObal RIsk MANagement system for plant operations GLORIMAN

    International Nuclear Information System (INIS)

    Silverman, Eugene B.

    2004-01-01

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

  14. 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

  15. 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)

  16. On the ALARP approach to risk management

    International Nuclear Information System (INIS)

    Melchers, R.E.

    2001-01-01

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

  17. 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

  18. The Architecture of Financial Risk Management Systems

    Directory of Open Access Journals (Sweden)

    Iosif ZIMAN

    2013-01-01

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

  19. Stakeholder Risk Management in Ethical Decision Making

    DEFF Research Database (Denmark)

    Lauesen, Linne Marie

    evidence from hybrid organizations as Publicly Owned Enterprises (POEs) mixed of private corporations and political administration. The model offers a new way of combining risk management with ethical decisionmaking processes by the inclusion of multiple stakeholders. Not only does the model apply...... to these kinds of hybrid organizations, but it is easily adopted and tested for other private business models too. The findings and the conceptualization of the model enhances business ethics in decision making by managing and balancing stakeholder concerns with the same concerns as the traditional risk......Stakeholder management has for the last three decades been concerned either with strategic business management or business ethics, values and quality. Many models have been developed, but recently the literature asks for more dynamic models instead of the staticism that characterizes some models...

  20. 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...

  1. Risk management for independent power projects

    International Nuclear Information System (INIS)

    Owen, J.L.

    1993-01-01

    Independent Power, where electric utilities or other bulk electric power users contract with individual electric power generation facilities to meet their projected long term power needs, has grown dramatically over the past ten years or more. This concept, to contract with Independent Power Producers (IPP), is not a new concept and in fact goes back to the early formation of the electric power industry in this country and worldwide. Successful Risk Management is the foundation for ultimate project completion and operation in fulfilling the expectations of all parties. The primary risks associated with the development of Independent Power projects include: predicting long term fuel availability and cost; predicting long term price for the deliverable of electricity; site selection, site characteristics and permitting; innovative or evolving technology; project execution (design and construction), and; lifetime O ampersand M costs and plant reliability. This paper focuses on the risks inherent in the development of IPPs and addresses the management of these risks

  2. 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

  3. RISK MANAGEMENT OF INVESTMENT PORTFOLIO BY FUTURE

    Directory of Open Access Journals (Sweden)

    K. Kerimov Alexandr

    2017-01-01

    Full Text Available The article considers the problem of the dynamic risk management of the investment portfolio using future con- tracts. The management starts with the concept of effective inhomogeneous portfolios, which contain futures together with underlying asserts. The effective portfolios are defined as the ones of the minimal dispersion with the expected return greater or equal to the specified value. Risk is measured by the probability of losing of a certain part of the portfolio value. The control parameters are the number of futures for each asset of portfolio, which is defined from the condition of effec- tiveness of portfolio and risk acceptability on each step.The effective adaptive strategies of portfolio risk management together with comparative analysis on a concrete example are presented. The proposed approach provides the forecast correction of the expected income and its variance for the assets with the emergence of new data. The financial time series are determined by volatility clustering, i.e. relative or absolute price changes tend to keep high or low magnitude for some time, with the result that clusters are created - periods of high or low volatility. Then adaptive estimate of correlational relationships between asset prices are essential because the degree of correlational relationship also changes in time. So the correlation of future and spot price changes considerably increases while approaching to performance of contracts. For taking into account of data instability of dispersion and correlation simple methods of volatility forecasting and correlation of relative changes of price data based on exponential smoothing are implemented.

  4. Integrating emerging earth science technologies into disaster risk management: an enterprise architecture approach

    Science.gov (United States)

    Evans, J. D.; Hao, W.; Chettri, S. R.

    2014-12-01

    Disaster risk management has grown to rely on earth observations, multi-source data analysis, numerical modeling, and interagency information sharing. The practice and outcomes of disaster risk management will likely undergo further change as several emerging earth science technologies come of age: mobile devices; location-based services; ubiquitous sensors; drones; small satellites; satellite direct readout; Big Data analytics; cloud computing; Web services for predictive modeling, semantic reconciliation, and collaboration; and many others. Integrating these new technologies well requires developing and adapting them to meet current needs; but also rethinking current practice to draw on new capabilities to reach additional objectives. This requires a holistic view of the disaster risk management enterprise and of the analytical or operational capabilities afforded by these technologies. One helpful tool for this assessment, the GEOSS Architecture for the Use of Remote Sensing Products in Disaster Management and Risk Assessment (Evans & Moe, 2013), considers all phases of the disaster risk management lifecycle for a comprehensive set of natural hazard types, and outlines common clusters of activities and their use of information and computation resources. We are using these architectural views, together with insights from current practice, to highlight effective, interrelated roles for emerging earth science technologies in disaster risk management. These roles may be helpful in creating roadmaps for research and development investment at national and international levels.

  5. Estimation of risk management effects on revenue and purchased feed costs on US dairy farms.

    Science.gov (United States)

    Hadrich, Joleen C; Johnson, Kamina K

    2015-09-01

    Variations in milk and feed prices directly affect dairy farm risk management decisions. This research used data from the 2010 US Department of Agriculture-Agricultural Resource Management Surveys phase III dairy survey to examine how risk management tools affected revenues and expenses across US dairy farms. The survey was sent to 26 states and collected information on costs and returns to individual dairy farms. This research used the information from milk sales, crops sales, feed expenses, and farm and operator characteristics, as well as the use of risk management tools. Matching methodology was used to evaluate the effect of 5 independent risk management tools on revenues and expenses: selling milk to a cooperative, using a commodity contract to sell grain, feeding homegrown forage at a basic and intensive level, and use of a nutritionist. Results showed that dairy farms located in the Midwest and East benefit from selling milk to a cooperative and using commodity contracts to sell grain. Across the United States, using a nutritionist increased total feed costs, whereas a feeding program that included more than 65% homegrown forages decreased total feed costs. Results point to benefits from educational programming on risk management tools that are region specific rather than a broad generalization to all US dairy farmers. Copyright © 2015 American Dairy Science Association. Published by Elsevier Inc. All rights reserved.

  6. Systems Book for a Student Information System. End of Project Report, 1968-1971, Volume II.

    Science.gov (United States)

    Western Nevada Regional Education Center, Lovelock.

    The necessary handbooks for use of the Student Information System (SIS), developed and tested by the Western Nevada Regional Education Center under a 1968-71 Title III (Elementary and Secondary Education Act) grant, are presented in this volume. As noted, the purpose of the SIS is to supply data and information to persons or organizations who make…

  7. 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

  8. Proposed framework for the Western Area Power Administration Environmental Risk Management Program

    Energy Technology Data Exchange (ETDEWEB)

    Glantz, C.S.; DiMassa, F.V.; Pelto, P.J.; Brothers, A.J. [Pacific Northwest Lab., Richland, WA (United States); Roybal, A.L. [Western Area Power Administration, Golden, CO (United States)

    1994-12-01

    The Western Area Power Administration (Western) views environmental protection and compliance as a top priority as it manages the construction, operation, and maintenance of its vast network of transmission lines, substations, and other facilities. A recent Department of Energy audit of Western`s environmental management activities recommends that Western adopt a formal environmental risk program. To accomplish this goal, Western, in conjunction with Pacific Northwest Laboratory, is in the process of developing a centrally coordinated environmental risk program. This report presents the results of this design effort, and indicates the direction in which Western`s environmental risk program is heading. Western`s environmental risk program will consist of three main components: risk communication, risk assessment, and risk management/decision making. Risk communication is defined as an exchange of information on the potential for threats to human health, public safety, or the environment. This information exchange provides a mechanism for public involvement, and also for the participation in the risk assessment and management process by diverse groups or offices within Western. The objective of risk assessment is to evaluate and rank the relative magnitude of risks associated with specific environmental issues that are facing Western. The evaluation and ranking is based on the best available scientific information and judgment and serves as input to the risk management process. Risk management takes risk information and combines it with relevant non-risk factors (e.g., legal mandates, public opinion, costs) to generate risk management options. A risk management tool, such as decision analysis, can be used to help make risk management choices.

  9. Environmental Toxicology: A Guide to Information Sources. Volume 7 in the "Man and the Environment Information Guide" Series.

    Science.gov (United States)

    Rudd, Robert L.

    This annotated bibliography on environmental toxicology brings together a diverse set of information sources from the physical, social, and natural sciences. These sources include periodical literature, government documents, scientific journals, and teaching materials. The volume is divided into sixteen sections organized into four parts: (1)…

  10. 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....

  11. 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 ...

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

    Science.gov (United States)

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

    2012-08-01

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

  13. 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.

  14. Information base for waste repository design. Volume 5. Decommissioning of underground facilities. Technical report

    International Nuclear Information System (INIS)

    Giuffre, M.S.; Plum, R.L.; Koplik, C.M.; Talbot, R.

    1979-03-01

    This report is Volume 5 of a seven volume document on nuclear waste repository design issues. This report discusses the requirements for decommissioning a deep underground facility for the disposal of radioactive waste. The techniques for sealing the mined excavations are presented and an information base on potential backfill materials is provided. Possible requirements for monitoring the site are discussed. The performance requirements for backfill materials are outlined. The advantages and disadvantages of each sealing method are stated

  15. Management control and status reports documentation standard and Data Item Descriptions (DID). Volume of the information system life-cycle and documentation standards, volume 5

    Science.gov (United States)

    Callender, E. David; Steinbacher, Jody

    1989-01-01

    This is the fifth of five volumes on Information System Life-Cycle and Documentation Standards. This volume provides a well organized, easily used standard for management control and status reports used in monitoring and controlling the management, development, and assurance of informations systems and software, hardware, and operational procedures components, and related processes.

  16. Management plan documentation standard and Data Item Descriptions (DID). Volume of the information system life-cycle and documentation standards, volume 2

    Science.gov (United States)

    Callender, E. David; Steinbacher, Jody

    1989-01-01

    This is the second of five volumes of the Information System Life-Cycle and Documentation Standards. This volume provides a well-organized, easily used standard for management plans used in acquiring, assuring, and developing information systems and software, hardware, and operational procedures components, and related processes.

  17. COMPLIANCE AS FACTORING BUSINESS RISK MANAGEMENT: CONTROL ASPECTS

    OpenAIRE

    V.K. Makarovych

    2016-01-01

    Indetermination of modern economy conditions and the lack of theoretical knowledge gained by domestic scientists about risk in factoring business actualize the research concerning the methodology and technique of factoring companies’ risk management. The article examines compliance which is the technology innovative for Ukrainian market of factoring risk management technologies. It is determined that the compliance is the risk management process directed to free will correspondence to sta...

  18. 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...

  19. The Future Regulatory Challenges of Liquidity Risk Management

    OpenAIRE

    Petr Teply

    2011-01-01

    Liquidity risk management ranks to key concepts applied in finance. Liquidity is defined as a capacity to obtain funding when needed, while liquidity risk means as a threat to this capacity to generate cash at fair costs. In the paper we present challenges of liquidity risk management resulting from the 2007- 2009 global financial upheaval. We see five main regulatory liquidity risk management issues requiring revision in coming years: liquidity measurement, intra-day and...

  20. Reviewing the economic efficiency of disaster risk management

    Science.gov (United States)

    Mechler, Reinhard

    2013-04-01

    There is a lot of rhetoric suggesting that disaster risk management (DRM) pays, yet surprisingly little in the way of hard facts. Cost-benefit analysis (CBA) is one major tool that can provide quantitative information about the prioritization of disaster risk management (DRM) (and climate adaptation) based on economic principles. Yet, on a global scale, there has been surprisingly little robust evidence on the economic efficiency and benefits of risk management measures. This review shows that for the limited evidence reported the economic case for DRM across a range of hazards is strong and that the benefits of investing in DRM outweigh the costs of doing so, on average, by about four times the cost in terms of avoided and reduced losses. Most studies using a CBA approach focus on structural DRM and most information has been made available on physical flood prevention. There have been some limited studies on preparedness and risk financing. The global evidence base is limited and estimates appear not very solid, and overall, in line with the conclusion of the recent IPCC SREX report, there is limited evidence and medium agreement across the literature. Some of the factors behind the limited robustness are inherent to CBA more widely: these challenges comprise the inability to price intangibles, evaluating strategies rather than single projects, difficulties in assessing softer rather than infrastructure-related options, choices regarding a proper discount rate, lack of accounting for the distribution of benefits and costs and difficulties with assessing nonmarket values such as those related to health, the environment, or public goods. Although techniques exist to address some of these challenges, they are not very likely to easily go away. Other challenges associated specifically with DRM, such as the need and difficulty to undertake risk -based analysis can be overcome, and there have been manuals and reports providing a way forward. In an age of austerity, cost

  1. Cost-volume-profit and net present value analysis of health information systems.

    Science.gov (United States)

    McLean, R A

    1998-08-01

    The adoption of any information system should be justified by an economic analysis demonstrating that its projected benefits outweigh its projected costs. Analysis differ, however, on which methods to employ for such a justification. Accountants prefer cost-volume-profit analysis, and economists prefer net present value analysis. The article explains the strengths and weaknesses of each method and shows how they can be used together so that well-informed investments in information systems can be made.

  2. 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.

  3. Tank Waste Remediation System Characterization Project Programmatic Risk Management Plan

    International Nuclear Information System (INIS)

    Baide, D.G.; Webster, T.L.

    1995-12-01

    The TWRS Characterization Project has developed a process and plan in order to identify, manage and control the risks associated with tank waste characterization activities. The result of implementing this process is a defined list of programmatic risks (i.e. a risk management list) that are used by the Project as management tool. This concept of risk management process is a commonly used systems engineering approach which is being applied to all TWRS program and project elements. The Characterization Project risk management plan and list are subset of the overall TWRS risk management plan and list

  4. 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.

  5. Best practice vendor risk management in today's interconnected world.

    Science.gov (United States)

    Beale, Ian

    2017-01-01

    This paper explains why vendor/third-party risk is so important to all organisations, as well as the principal risks that organisations must consider. It describes the responsibility of management to manage these risks with support from risk experts at the selection phase and through the ongoing relationship. Different sources of information about the management of the key risks and alternative ways of collecting the data are evaluated. The paper concludes by discussing how both customer and supplier organisations benefit from a balanced approach to risk management. The approach described in the paper applies to organisations of all types and sizes and can be applied to varied supply chains. The data and insights are based on research conducted by CEB.

  6. Managing Communities – Mining MNEs’ Community Risk Management Practices

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    This PhD reflects the effort to close a gap in the multinational enterprise (MNE) risk management literature on the identification and mitigation of risk arising from local communities. Small villages and towns that are situated geographically close to the MNEs’ place of operation have increasingly......-to-date information about mining MNE operations. This improved outreach has meant that mines have been closed due to conflicts with local communities and therefor a need had arisen for MNEs to implement management practices that can effectively mitigate these types of risks....... been identified as a source of risk (BSR, 2003; ICMM, 2015). The mining industry is one of the most exposed to risks from local communities, where there historically have been many conflicts between mine owners on one side and the people living close to the mine on the other (Godoy, 1985; Hoskin, 1912...

  7. The Success and Failure of Social Risk Management Systems

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    stakeholders, not directly related to the business, who can raise issues that can have a significant impact on operations. Potentially threatening the MNCs ability to maintain its social license to operate and thereby initiating a stop of mining operation at a significant cost to the company. This paper...... is based on the case example of Teghout coppermolybdenum mine in North-Eastern Armenia, supplemented with evidence from other mining MNCs in the country, using interviews with key stakeholders, onsite fieldwork and public available information. It is found that MNCs in Armenia adopt a standards based...... social risk management strategy and that this strategy is based on the adoption of an international Corporate Social Responsibility (CSR) standard promoted by the World Bank. However, the fieldwork reveal that local and regional stakeholders, from whom social risk rise, feel disengaged from the process...

  8. Risks Management of Ready-Made Garments Industry In Bangladesh

    Directory of Open Access Journals (Sweden)

    Morshadul Hasan

    2017-08-01

    Full Text Available The primary objective of this paper is to identify the associated risks in ready made garments sector and find out the ways how these risks can be mitigated. The sample respondents are selected from the different company in different locations, and different level of the respondents are interviewed for collecting information randomly from 45 garments factory from the total population size 4328 company. It has been found in this research that almost all the risks are properly controlled or managed by the responsible parties. The responsible parties of controlling risks are trying most to control the risks. There is few past research about risks management of ready-made garments industry in Bangladesh. Different types of risks and the risks controlling technique will be discussed in the letter part of this research.

  9. Risk management program for the 283-W water treatment facility

    International Nuclear Information System (INIS)

    Green, W.E.

    1999-01-01

    This Risk Management (RM) Program covers the 283-W Water Treatment Facility (283W Facility), located in the 200 West Area of the Hanford Site. A RM Program is necessary for this facility because it stores chlorine, a listed substance, in excess of or has the potential to exceed the threshold quantities defined in Title 40 of the Code of Federal Regulations (CFR) Part 68 (EPA, 1998). The RM Program contains data that will be used to prepare a RM Plan, which is required by 40 CFR 68. The RM Plan is a summary of the RM Program information, contained within this document, and will be submitted to the U.S. Environmental Protection Agency (EPA) ultimately for distribution to the public. The RM Plan will be prepared and submitted separately from this document

  10. Risk Management in Banking:The Tendency of Risk Management Development and Changes in Financial Crisis.

    OpenAIRE

    Zhang, Lan

    2011-01-01

    As the market instability and uncertainty that economic and business environment become more complex than any time before. In real condition, there are significant financial volatility and distress that exist in financial institutions, particularly in those with large debt and commodity price exposures. Therefore risk management in recent decade has been largely required and improved to financial sectors. In this paper, we conduct content analysis through annual reports of four leading banks ...

  11. Risk management of knowledge loss in nuclear industry organizations

    International Nuclear Information System (INIS)

    2006-07-01

    Maintaining nuclear competencies in the nuclear industry and nuclear regulatory authorities will be one of the most critical challenges in the near future. As many nuclear experts around the world are retiring, they are taking with them a substantial amount of knowledge and corporate memory. The loss of such employees who hold knowledge critical to either operations or safety poses a clear internal threat to the safe and reliable operation of nuclear facilities. This publication is intended for senior and middle level managers of nuclear industry operating organizations and provides practical information on knowledge loss risk management. The information provided in this it is based upon the actual experiences of Member State operating organizations and is intended to increase awareness of the need to: develop a strategic approach and action plans to address the potential loss of critical knowledge and skills; provide processes and in conducting risk assessments to determine the potential for loss of critical knowledge caused by the loss of experienced workers; and enable nuclear organizations to utilize this knowledge to improve the skill and competence of new and existing workers In 2004, the IAEA published a report entitled The Nuclear Power Industry's Ageing Workforce: Transfer of Knowledge to the Next Generation (IAEA-TECDOC-1399). That report highlighted some of the knowledge management issues in Member States resulting from the large number of retiring nuclear power plant personnel who had been involved with the commissioning and initial operation of nuclear power plants. This publication complements that report by providing a practical methodology on knowledge loss risk management as one element of an overall strategic approach to workforce management which includes work force planning, recruitment, training, leadership development and knowledge retention

  12. Automated systems to identify relevant documents in product risk management

    Science.gov (United States)

    2012-01-01

    Background Product risk management involves critical assessment of the risks and benefits of health products circulating in the market. One of the important sources of safety information is the primary literature, especially for newer products which regulatory authorities have relatively little experience with. Although the primary literature provides vast and diverse information, only a small proportion of which is useful for product risk assessment work. Hence, the aim of this study is to explore the possibility of using text mining to automate the identification of useful articles, which will reduce the time taken for literature search and hence improving work efficiency. In this study, term-frequency inverse document-frequency values were computed for predictors extracted from the titles and abstracts of articles related to three tumour necrosis factors-alpha blockers. A general automated system was developed using only general predictors and was tested for its generalizability using articles related to four other drug classes. Several specific automated systems were developed using both general and specific predictors and training sets of different sizes in order to determine the minimum number of articles required for developing such systems. Results The general automated system had an area under the curve value of 0.731 and was able to rank 34.6% and 46.2% of the total number of 'useful' articles among the first 10% and 20% of the articles presented to the evaluators when tested on the generalizability set. However, its use may be limited by the subjective definition of useful articles. For the specific automated system, it was found that only 20 articles were required to develop a specific automated system with a prediction performance (AUC 0.748) that was better than that of general automated system. Conclusions Specific automated systems can be developed rapidly and avoid problems caused by subjective definition of useful articles. Thus the efficiency of

  13. Risk management through dynamic technical specifications

    International Nuclear Information System (INIS)

    Klopp, George T.; Petersen, Thomas A.

    2004-01-01

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

  14. Quality Risk Management: Putting GMP Controls First.

    Science.gov (United States)

    O'Donnell, Kevin; Greene, Anne; Zwitkovits, Michael; Calnan, Nuala

    2012-01-01

    This paper presents a practical way in which current approaches to quality risk management (QRM) may be improved, such that they better support qualification, validation programs, and change control proposals at manufacturing sites. The paper is focused on the treatment of good manufacturing practice (GMP) controls during QRM exercises. It specifically addresses why it is important to evaluate and classify such controls in terms of how they affect the severity, probability of occurrence, and detection ratings that may be assigned to potential failure modes or negative events. It also presents a QRM process that is designed to directly link the outputs of risk assessments and risk control activities with qualification and validation protocols in the GMP environment. This paper concerns the need for improvement in the use of risk-based principles and tools when working to ensure that the manufacturing processes used to produce medicines, and their related equipment, are appropriate. Manufacturing processes need to be validated (or proven) to demonstrate that they can produce a medicine of the required quality. The items of equipment used in such processes need to be qualified, in order to prove that they are fit for their intended use. Quality risk management (QRM) tools can be used to support such qualification and validation activities, but their use should be science-based and subject to as little subjectivity and uncertainty as possible. When changes are proposed to manufacturing processes, equipment, or related activities, they also need careful evaluation to ensure that any risks present are managed effectively. This paper presents a practical approach to how QRM may be improved so that it better supports qualification, validation programs, and change control proposals in a more scientific way. This improved approach is based on the treatment of what are called good manufacturing process (GMP) controls during those QRM exercises. A GMP control can be considered

  15. Risk Management Collaboration through Sharing Interactive Graphics

    Science.gov (United States)

    Slingsby, Aidan; Dykes, Jason; Wood, Jo; Foote, Matthew

    2010-05-01

    Risk management involves the cooperation of scientists, underwriters and actuaries all of whom analyse data to support decision-making. Results are often disseminated through static documents with graphics that convey the message the analyst wishes to communicate. Interactive graphics are increasingly popular means of communicating the results of data analyses because they enable other parties to explore and visually analyse some of the data themselves prior to and during discussion. Discussion around interactive graphics can occur synchronously in face-to-face meetings or with video-conferencing and screen sharing or they can occur asynchronously through web-sites such as ManyEyes, web-based fora, blogs, wikis and email. A limitation of approaches that do not involve screen sharing is the difficulty in sharing the results of insights from interacting with the graphic. Static images accompanied can be shared but these themselves cannot be interacted, producing a discussion bottleneck (Baker, 2008). We address this limitation by allowing the state and configuration of graphics to be shared (rather than static images) so that a user can reproduce someone else's graphic, interact with it and then share the results of this accompanied with some commentary. HiVE (Slingsby et al, 2009) is a compact and intuitive text-based language that has been designed for this purpose. We will describe the vizTweets project (a 9-month project funded by JISC) in which we are applying these principles to insurance risk management in the context of the Willis Research Network, the world's largest collaboration between the insurance industry and the academia). The project aims to extend HiVE to meet the needs of the sector, design, implement free-available web services and tools and to provide case studies. We will present a case study that demonstrate the potential of this approach for collaboration within the Willis Research Network. Baker, D. Towards Transparency in Visualisation Based

  16. An Approach to Description of Accident Causation and Identification of Preconditions for Effective Risk Management

    DEFF Research Database (Denmark)

    Rasmussen, Jens; Svedung, Inge

    "safety control" must be established from a control theory point of view? The report discusses these issues on the basis of the present rapid evolution of new cognitive approaches to the study of decision making in action and dynamic, learning organizations, and the rapid change of modern information......The ultimate objectives of the present study is to better understand the mechanisms of major accidents in the present dynamic and technological society. From this understanding, guides to improved strategies for industrial risk management is sought. In this approach, risk management is considered...

  17. Accommodating the Challenges of Climate Change Adaptation and Governance in Conventional Risk Management: Adaptive Collaborative Risk Management (ACRM)

    OpenAIRE

    Bradley May; Ryan Plummer

    2011-01-01

    Risk management is a well established tool for climate change adaptation. It is facing new challenges with the end of climate stationarity and the need to meaningfully engage people in governance issues. The ways in which conventional approaches to risk management can respond to these challenges are explored. Conventional approaches to risk management are summarized, the manner in which they are being advanced as a tool for climate change adaptation is described, and emerging themes in risk m...

  18. Diagnosis and proposal for an integrated risk management en el Valle de Aburra: red risks

    International Nuclear Information System (INIS)

    Aristizabal, Edier; Vargas, Richard

    2008-01-01

    From the analysis of the organizational situation of different institutions of the Aburra Valley oriented to reduce disasters and emergencies of natural and anthropological origin, a system for the prevention, relief and recovery, Area metropolitana del Valle de Aburra, environmental authority and planning institution, has made to the region a pro pose which try to integrate all governmental and private organizations through an integral risk management, denominated: The Regional Risk Management Network in the Aburra Valley, Risk Network. Risk Network is an open organizational system of inter institutional character to direct and co-ordinate policies and actions of analysis and risk reduction, as well as the preparation and execution of the response and recovery of disaster and emergencies. in the Aburra Valley. Two are the strategic instruments of the Network: The Risk Management Regional Plan in the Aburra Valley, and the Integrated Information System which was designed to support the different management processes of the Network.

  19. Telemental Health for Children and Adolescents: An Overview of Legal, Regulatory, and Risk Management Issues.

    Science.gov (United States)

    Kramer, Gregory M; Luxton, David D

    2016-04-01

    The use of technology to provide telemental healthcare continues to increase; however, little has been written about the legal and regulatory issues involved in providing this form of care to children and adolescents. This article reviews existing laws and regulations to summarize the risk management issues relevant to providing telemental healthcare to children and adolescents. There are several legal and regulatory areas in which telemental health clinicians need to have awareness. These areas include: 1) Licensure, 2) malpractice liability, 3) credentialing and privileging, 4) informed consent, 5) security and privacy, and 6) emergency management. Although legal and regulatory challenges remain in providing telemental healthcare to children and adolescents, it is possible to overcome these challenges with knowledge of the issues and appropriate risk management strategies. We provide general knowledge of these key legal and regulatory issues, along with some risk management recommendations.

  20. Safe patient care - safety culture and risk management in otorhinolaryngology.

    Science.gov (United States)

    St Pierre, Michael

    2013-12-13

    Safety culture is positioned at the heart of an organization's vulnerability to error because of its role in framing organizational awareness to risk and in providing and sustaining effective strategies of risk management. Safety related attitudes of leadership and management play a crucial role in the development of a mature safety culture ("top-down process"). A type marker for organizational culture and thus a predictor for an organization's maturity in respect to safety is information flow and in particular an organization's general way of coping with information that suggests anomaly. As all values and beliefs, relationships, learning, and other aspects of organizational safety culture are about sharing and processing information, safety culture has been termed "informed culture". An informed culture is free of blame and open for information provided by incidents. "Incident reporting systems" are the backbone of a reporting culture, where good information flow is likely to support and encourage other kinds of cooperative behavior, such as problem solving, innovation, and inter-departmental bridging. Another facet of an informed culture is the free flow of information during perioperative patient care. The World Health Organization's safe surgery checklist" is the most prevalent example of a standardized information exchange aimed at preventing patient harm due to information deficit. In routine tasks mandatory standard operating procedures have gained widespread acceptance in guaranteeing the highest possible process quality. Technical and non-technical skills of healthcare professionals are the decisive human resource for an efficient and safe delivery of patient care and the avoidance of errors. The systematic enhancement of staff qualification by providing training opportunities can be a major investment in patient safety. In recent years several otorhinolaryngology departments have started to incorporate stimulation based team trainings into their