WorldWideScience

Sample records for transportation risk management

  1. Risk management model in road transport systems

    Science.gov (United States)

    Sakhapov, R. L.; Nikolaeva, R. V.; Gatiyatullin, M. H.; Makhmutov, M. M.

    2016-08-01

    The article presents the results of a study of road safety indicators that influence the development and operation of the transport system. Road safety is considered as a continuous process of risk management. Authors constructed a model that relates the social risks of a major road safety indicator - the level of motorization. The model gives a fairly accurate assessment of the level of social risk for any given level of motorization. Authors calculated the dependence of the level of socio-economic costs of accidents and injured people in them. The applicability of the concept of socio-economic damage is caused by the presence of a linear relationship between the natural and economic indicators damage from accidents. The optimization of social risk is reduced to finding the extremum of the objective function that characterizes the economic effect of the implementation of measures to improve safety. The calculations make it possible to maximize the net present value, depending on the costs of improving road safety, taking into account socio-economic damage caused by accidents. The proposed econometric models make it possible to quantify the efficiency of the transportation system, allow to simulate the change in road safety indicators.

  2. RISK MANAGEMENT AS TRANSPORTATION SAFETY PROVISION INSTRUMENT IN RUSSIA

    OpenAIRE

    V. A. Nikolayev

    2012-01-01

    Safety of transportation in Russia is subject to a variety of threats. Discussed in the article are characteristics of major threats to transportation security. State transportation policy directions that make it possible to ensure the security of cargo and passenger transportation are shown. A listof activities and innovative risk management tools that provide for improved safety of railway transportation is proposed.

  3. RISK MANAGEMENT AS TRANSPORTATION SAFETY PROVISION INSTRUMENT IN RUSSIA

    Directory of Open Access Journals (Sweden)

    V. A. Nikolayev

    2012-01-01

    Full Text Available Safety of transportation in Russia is subject to a variety of threats. Discussed in the article are characteristics of major threats to transportation security. State transportation policy directions that make it possible to ensure the security of cargo and passenger transportation are shown. A listof activities and innovative risk management tools that provide for improved safety of railway transportation is proposed.

  4. Risk management of onsite transportation of hazardous materials

    International Nuclear Information System (INIS)

    Wang, O.S.; Field, J.G.

    1992-10-01

    The US Department of Energy's (DOE) Hanford Site has recently undergone a significant change in its mission. The focus of site-wide operations has been shifted from production to environmental restoration. As a result, there is a significant increase in quantities of the radioactive wastes and other hazardous materials to be packaged and transported onsite. In response to the elevated transportation activities, the operations and engineering contractor for the Hanford Site, Westinghouse Hanford Company (Westinghouse Hanford), is proposing an integrated risk assessment methodology and risk management strategy to further enhance the safe operations of the onsite packaging and transportation activities involving radioactive and other hazardous materials. This paper summarizes Westinghouse Hanford's proposed risk assessment and risk management methodology for onsite transportation of hazardous materials. The proposed Westinghouse Hanford risk assessment and management methodology for onsite packaging and transportation has three integral parts: risk assessment, risk acceptance criteria, and risk minimization process. The purposes are to ensure that the risk for each ongoing transportation activity is acceptable, and to further reduce the overall risk for current and future onsite transportation activities

  5. AREVA Logistics Business Unit Transportation Risk Management Initiative

    International Nuclear Information System (INIS)

    Anne, C.

    2009-01-01

    A safe, secure and reliable transportation organization is a key component for the success of the nuclear industry. With the forecasted increase of radioactive material transport flows in future and the changing environment, AREVA Logistic Business Unit (L-BU) must ensure that safety and security risks are minimized but also ensure of the chain supply for its various facilities (mines, conversion, enrichment, fuel manufacturing, reprocessing, etc). AREVA L-BU Unit is implementing a transportation risk management initiative for the radioactive shipments of the AREVA group across all the Business Unit involved in shipments of radioactive and nuclear materials. The paper will present the four main components of the risk management. (authors)

  6. Radiological risks of transports to central waste management facilities

    International Nuclear Information System (INIS)

    Lange, F.

    1997-01-01

    Transports of radioactive waste from nuclear facilities have been a matter of frequent public concern in the recent past. News reports, protests and questions concerning the radiological risk tended to concentrate on transports to and from central waste management facilities, e.g. transports of spent fuel elements to reprocessing plants abroad (France, England), transports to intermediate storage sites (Ahaus, Gorleben), transports to operative (Morsleben) and projected (Konrad) final storage sites, and transports of vitrified high-activity waste from reprocessing plants to the intermediate storage site (Gorleben). (orig.) [de

  7. Risk management of onsite transportation of nuclear waste

    International Nuclear Information System (INIS)

    Field, J.G.; Wang, O.S.; Mercado, J.E.

    1993-01-01

    The United States Department of Energy (DOE) Hanford Site recently has undergone a significant change in mission. The focus of operations has shifted from plutonium production to environmental restoration. This transition has caused a substantial increase in quantities of nuclear waste and other hazardous materials packaged and transported onsite. In response to the escalating transportation activity, Westinghouse Hanford Company (Westinghouse Hanford), the Hanford Site operations and engineering contractor, is proposing an integrated risk assessment methodology and risk management strategy to enhance the safety of onsite packaging and transportation operations involving nuclear waste. The proposed methodology consists of three integral parts: risk assessment, risk acceptance criteria, and risk minimization. The purpose of the methodology is to ensure that the risk for each ongoing transportation activity is acceptable and to minimize the overall risk for current and future onsite operations. (authors). 2 figs., 6 refs

  8. Risk management of onsite transportation of nuclear waste

    International Nuclear Information System (INIS)

    Field, J.G.; Wang, O.S.; Mercado, J.E.

    1993-03-01

    The United States Department of Energy (DOE) Hanford Site recently has undergone a significant change in mission. The focus of operations has shifted from plutonium production to environmental restoration. This transition has caused a substantial increase in quantities of nuclear waste and other hazardous materials packaged and transported onsite. In response to the escalating transportation activity, Westinghouse Hanford Company (Westinghouse Hanford), the Hanford Site operations and engineering contractor, is proposing an integrated risk assessment methodology and risk management strategy to enhance the safety of onsite packaging and transportation operations involving nuclear waste. The proposed methodology consists of three integral parts: risk assessment, risk acceptance criteria, and risk minimization. The purpose of the methodology is to ensure that the risk for each ongoing transportation activity is acceptable and to minimize the overall risk for current and future onsite operations

  9. Packaging and transportation risk management and evaluation plan

    International Nuclear Information System (INIS)

    Rhyne, W.R.

    1993-09-01

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

  10. MANAGING RISKS AND LIABILITIES IN THE HIGHWAYS AND TRANSPORT SECTOR

    OpenAIRE

    P.E. FORMAN, B.Eng.(Hons.), M.Sc., C.Eng.

    2000-01-01

    In recent years, more people have been claiming financial recompense for personal injuries they sustain. Increasingly, the targets of such claims are highway authorities, transport operators and property owners. This paper outlines an area of risk commonly overlooked by practitioners, but which can be managed effectively and can afford both cost savings and public safety improvements. Inconsistencies between design standards, safety improvement policies and maintenance regimes for the more...

  11. Managing geotechnical risk on US design-build transport projects

    Directory of Open Access Journals (Sweden)

    Kevin McLain

    2014-03-01

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

  12. Integrated risk management of safety and development on transportation corridors

    International Nuclear Information System (INIS)

    Thekdi, Shital A.; Lambert, James H.

    2015-01-01

    Prioritization of investments to protect safety and performance of multi-regional transportation networks from adjacent land development is a key concern for infrastructure agencies, land developers, and other stakeholders. Despite ample literature describing relationships between transportation and land use, no evidence-based methods exist for monitoring corridor needs on a large scale. Risk analysis is essential to the preservation of system safety and capacity, including avoidance of costly retrofits, regret, and belated action. This paper introduces the Corridor Trace Analysis (CTA) for prioritizing corridor segments that are vulnerable to adjacent land development. The method integrates several components: (i) estimation of likelihood of adjacent land development, using influence diagram and rule-based modeling, (ii) characterization of access point density using geospatial methods, and (iii) plural-model evaluation of corridors, monitoring indices of land development likelihood, access point densities, and traffic volumes. The results inform deployment of options that include closing access points, restricting development, and negotiation of agencies and developers. The CTA method is demonstrated on a region encompassing 6000 centerline miles (about 10,000 km) of transportation corridors. The method will be of interest to managers investing in safety and performance of infrastructure systems, balancing safety, financial, and other criteria of concern for diverse stakeholders. - Highlights: • The Corridor Trace Analysis (CTA) method for prioritizing transportation corridors. • The CTA method studies corridors vulnerable to adjacent land development. • The CTA method quantifies the influence of risk scenarios on agency priorities. • The CTA method is demonstrated on 6000 miles of critical transportation corridor

  13. Radioactive Waste Transport: Managing Risk Perception and Communication

    International Nuclear Information System (INIS)

    Murray, Ch.

    2009-01-01

    The implementation of a national transportation system for spent nuclear fuel and high-level waste that merits public trust and confidence will require the delivery of consistent, accurate and timely transportation messages; stakeholder and public understanding of the need for, and safety of, shipments; and effective two-way communication to address stakeholder concerns in its decision-making processes. Building the trust and consent of stakeholders and the public is complex and challenging. In order to accomplish this goal, it is imperative to understand how and why members of society develop various perceptions of risks and assessments of benefits with regard to the nuclear energy cycle. Understanding the basis and reasons for the public's beliefs concerning the nuclear energy cycle will allow OCRWM to more effectively address concerns regarding the national transportation program. This paper will examine how a person's gender, sources of information, world-view, culture, emotion, cognition, and other factors affect their beliefs and perceptions of risk. It will also explore the reasons why nuclear energy and nuclear waste are viewed with such a distinctly different attitude than other hazardous materials that pose a comparable or greater hazard. Drawing on research from prominent experts in risk perception and communication methods, this study will conduct a unique investigation into the perspectives of a diverse set of key stakeholders and experts involved in the transportation process. This paper will present several hypotheses on why there are unique challenges involved in communicating about transportation of spent nuclear fuel and other nuclear fuel cycle activities, and also present recommendations for remediating such challenges. (authors)

  14. Transportation asset management : organizational performance and risk review : final report.

    Science.gov (United States)

    2012-11-15

    The 2012 Federal reauthorization of surface transportation programs, Moving Ahead for Progress in the 21st : Century (MAP-21) formally introduced performance-based decision making for investments in surface : transportation programs. This report revi...

  15. Human reliability and risk management in the transportation of spent nuclear fuel

    International Nuclear Information System (INIS)

    Tuler, S.; Kasperson, R.E.; Ratick, S.

    1989-01-01

    This paper summarizes work on human factor contributions to risks from spent nuclear fuel transportation. Human participation may have significant effects on the levels and types of risks by enabling or initiating incidents and exacerbating adverse consequences. Human errors are defined to be the result of mismatches between perceived system state and actual system state. In complex transportation systems such mismatches may be distributed in time (e.g., during different stages of design, implementation, operation, maintenance) and location (e.g., human error, its identification, and its recovery may be geographically and institutionally separate). Risk management programs may decrease the probability of undesirable events or attenuate the consequences of mismatches. This paper presents a methodology to identify the scope and types of human-task mismatches and to identify potential management options for their prevention, mitigation, or recovery. A review of transportation accident databases, in conjunction with human error models, is used to develop a taxonomy of human errors during design for the pre-identification of potential mismatches or after incidents have occurred to evaluate their causes. Risk management options to improve human reliability are identified by a matrix that relates the multiple stages of a spent nuclear fuel transportation system to management options (e.g., training, data analysis, regulation). The paper concludes with examples to illustrate how the methodology may be applied. (author)

  16. Transportation risk assessment for the US Department of Energy Environmental Management Programmatic Environmental Impact Statement

    International Nuclear Information System (INIS)

    Chen, S.Y.; Monette, F.A.; Biwer, B.M.; Lazaro, M.A.; Hartmann, H.M.; Policastro, A.J.

    1994-01-01

    In its Programmatic Environmental Impact Statement (PEIS), the Office of Environmental Management (EM) of the US Department of Energy (DOE) is considering a broad range of alternatives for the future management of radioactive and hazardous waste at the facilities of the DOE complex. The alternatives involve facilities to be used for treatment, storage, and disposal of various wastes generated from DOE's environmental restoration activities and waste management operation. Included in the evaluation are six types of waste (five types of radioactive waste plus hazardous waste), 49 sites, and numerous cases associated with each different alternative for waste management. In general, the alternatives are evaluated independently for each type of waste and reflect decentralized, regionalized, and centralized approaches. Transportation of waste materials is an integral component of the EM PEIS alternatives for waste management. The estimated impact on human health that is associated with various waste transportation activities is an important element leading to a complete appraisal of the alternatives. The transportation risk assessment performed for the EM PEIS is designed to ensure -- through uniform and judicious selection of models, data, and assumptions -- that relative comparisons of risk among the various alternatives are meaningful and consistent

  17. 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...

  18. Transportation risk management : international practices for program development and project delivery.

    Science.gov (United States)

    2012-08-01

    Managing transportation networks, including agency : management, program development, and project : delivery, is extremely complex and fraught with : uncertainty. Administrators, planners, and engineers : coordinate a multitude of organizational and ...

  19. Comprehensive transportation asset management : risk-based inventory expansion and data needs.

    Science.gov (United States)

    2011-12-01

    Several agencies are applying asset management principles as a business tool and paradigm to help them define goals and prioritize agency resources in decision making. Previously, transportation asset management (TAM) has focused more on big ticke...

  20. CLIMATE CHANGE AND THE RISK MANAGEMENT IN SERBIAN INLAND WATERWAY TRANSPORT

    Directory of Open Access Journals (Sweden)

    Todor Backalic

    2012-12-01

    Full Text Available Climate changes require special attention and global monitoring. Impacts on nature and industry are increasingly evident. Water transport could be the backbone of the future European combined transport system. Unfortunately, risks in water transport are perhaps an under researched area and consequently, this article outlines a rationale, why it is necessary to develop competence about risk in water transport. The development of the cargo transport in river traffic depends directly on technical-exploitative characteristics of the network of inland waterways. Research of navigational abilities of inland waterways always comes before building ships or making a transport schedule. Navigation characteristics of rivers have to be determined as precise as possible, especially from the aspect of determination the possible draught of vessels. River transport due to their operational business and environmental conditions faced with several risks having different degrees of consequences. Current risk assessment methods for water transport just consider some dramatic events. We present a new method for the assessment of risk and vulnerability of water transport where river depth represents a crucial part. The analysis of water level changes on Serbian rivers during the last sixty years was done.

  1. Managing in-country transportation risks in humanitarian supply chains by logistics service providers: Insights from the 2015 Nepal earthquake

    OpenAIRE

    Baharmand, Hossein; Comes, Tina; Lauras, Matthieu

    2017-01-01

    Humanitarian supply chains (HSCs) play a central role in effective and efficient disaster relief operations. Transportation has a critical share in HSCs and managing its risks helps to avoid further disruptions in relief operations. However, there is no common approach to or culture of risk management that its applicability has been studied through recent cases. This paper incorporates an empirical research design and makes a threefold contribution: first, it identifies in-country transportat...

  2. 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.

  3. Assessment of transportation risk for the U.S. Department of Energy Environmental Management programmatic environmental impact statement

    International Nuclear Information System (INIS)

    Chen, S.Y.; Monette, F.A.; Biwer, B.M.; Lazaro, M.A.; Hartmann, H.M.; Policastro, A.J.

    1995-01-01

    In its Programmatic Environmental Impact Statement (PEIS), the Office of Environmental Management (EM) of the U.S. Department of Energy (DOE) is considering a broad range of alternatives for the future management of radioactive and hazardous waste at the facilities of the DOE complex. The alternatives involve facilities to be used for treatment, storage, and disposal of various wastes generated from DOE environmental restoration activities and waste management operations. The evaluation includes five types of waste (four types of radioactive waste plus hazardous waste), 49 sites, and numerous cases associated with each alternative for waste management. In general, the alternatives are evaluated independently for each type of waste and reflect decentralized, regionalized, and centralized approaches. Transportation of waste materials is an integral component of the EM PEIS alternatives for waste management. The estimated impact on human health that is associated with various waste transportation activities is an important component of a complete appraisal of the alternatives. The transportation risk assessment performed for the EM PEIS is designed to ensure through uniform and judicious selection of models, data, and assumptions that relative comparisons of risk among the various alternatives are meaningful and consistent. Among other tasks, Argonne National Laboratory is providing technical assistance to the EM PEIS on transportation risk assessment. The objective is to perform a human health risk assessment for each type of waste relative to the EM PEIS alternatives for waste management. The transportation risk assessed is part of the overall impacts being analyzed for the EM PEIS to determine the safest, most environmentally and economically sound manner in which to satisfy requirements for waste management in the coming decades

  4. RISK MANAGEMENT IN A LARGE-SCALE NEW RAILWAY TRANSPORT SYSTEM PROJECT

    Directory of Open Access Journals (Sweden)

    Sunduck D. SUH, Ph.D., P.E.

    2000-01-01

    Full Text Available Risk management experiences of the Korean Seoul-Pusan high-speed railway (KTX project since the planning stage are evaluated. One can clearly see the interplay of engineering and construction risks, financial risks and political risks in the development of the KTX project, which is the peculiarity of large-scale new railway system projects. A brief description on evaluation methodology and overview of the project is followed by detailed evaluations on key differences in risks between conventional railway system and high-speed railway system, social and political risks, engineering and construction risks, and financial risks. Risks involved in system procurement process, such as proposal solicitation, evaluation, selection, and scope of solicitation are separated out and evaluated in depth. Detailed events resulting from these issues are discussed along with their possible impact on system risk. Lessons learned and further possible refinements are also discussed.

  5. Secure Transportation Management

    International Nuclear Information System (INIS)

    Gibbs, P. W.

    2014-01-01

    Secure Transport Management Course (STMC) course provides managers with information related to procedures and equipment used to successfully transport special nuclear material. This workshop outlines these procedures and reinforces the information presented with the aid of numerous practical examples. The course focuses on understanding the regulatory framework for secure transportation of special nuclear materials, identifying the insider and outsider threat(s) to secure transportation, organization of a secure transportation unit, management and supervision of secure transportation units, equipment and facilities required, training and qualification needed.

  6. Transportation Management Workshop: Proceedings

    Energy Technology Data Exchange (ETDEWEB)

    1993-10-01

    This report is a compilation of discussions presented at the Transportation Management Workshop held in Gaithersburg, Maryland. Topics include waste packaging, personnel training, robotics, transportation routing, certification, containers, and waste classification.

  7. Transportation Management Workshop: Proceedings

    International Nuclear Information System (INIS)

    1993-01-01

    This report is a compilation of discussions presented at the Transportation Management Workshop held in Gaithersburg, Maryland. Topics include waste packaging, personnel training, robotics, transportation routing, certification, containers, and waste classification

  8. Road Safety Risk Assessment: An Analysis of Transport Policy and Management for Low-, Middle-, and High-Income Asian Countries

    Directory of Open Access Journals (Sweden)

    Syyed Adnan Raheel Shah

    2018-02-01

    Full Text Available Road safety assessment has played a crucial role in the theory and practice of transport management systems. This paper focuses on risk evaluation in the Asian region by exploring the interaction between road safety risk and influencing factors. In the first stage, a data envelopment analysis (DEA method is applied to calculate and rank the road safety risk levels of Asian countries. In the second stage, a structural equation model (SEM with latent variables is applied to analyze the interaction between the road safety risk level and the latent variables, measured by six observed performance indicators, i.e., financial impact, institutional framework, infrastructure and mobility, legislation and policy, vehicular road users, and trauma management. Finally, this paper illustrates the applicability of this DEA-SEM approach for road safety performance analysis.

  9. National Aeronautics and Space Administration Marshall Space Flight Center Space Transportation Directorate Risk Management Implementation Program

    Science.gov (United States)

    Duarte, Luis Alberto; Kross, Denny (Technical Monitor)

    2001-01-01

    The US civil aerospace program has been a great contributor to the creation and implementation of techniques and methods to identify, analyze, and confront risk. NASA has accomplished mission success in many instances, but also has had many failures. Anomalies have kept the Agency from achieving success on other occasions, as well. While NASA has mastered ways to prevent risks, and to quickly and effectively react and recover from anomalies or failures, it was not until few years ago that a comprehensive Risk Management process started being implemented in some of its programs and projects. A Continuous Risk Management (CRM) cycle process was developed and has been promoted and used successfully in programs and projects across the Agency.

  10. TRANSPORT OUTSOURCING AND TRANSPORT COLLABORATION RELATIONSHIP - THE RISK HEDGING PERSPECTIVE

    Directory of Open Access Journals (Sweden)

    Đurđica M. Stojanović

    2015-04-01

    Full Text Available Although transport outsourcing decision-making and collaborative transport management (CTM have been “hot topics” for years, their links are still not thoroughly explored. The purpose of this paper is to contribute to a better understanding of the relationship between them. In particular, we focus on the conflicting and complementary features of these concepts with regard to their capability to hedge against transport outsourcing-related risks. Transport outsourcing is often a tool for transferring part of the demand risks from the primary parties in supply chains to transport service providers. However, new relationships introduce some new risks - outsourcing contract risks. It is important to identify, estimate and compare such kinds of risks. Transport collaboration may decrease both the demand risks and the outsourcing contract risks, although the relationship with the latter is more complex. It is used an exploratory research based on a combination of a literature review and empirical examples.

  11. 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

  12. Managing risks

    International Nuclear Information System (INIS)

    Nathwani, J.S.

    1993-01-01

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

  13. 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

  14. Managing Human Factors Related Risks. The Advanced Training Model in Dangerous Goods Transport on Roads

    Directory of Open Access Journals (Sweden)

    Jelizaveta Janno

    2018-06-01

    Full Text Available This paper studies the methodological essence of dangerous goods (DG training courses for drivers and dangerous goods safety advisers (DGSA. The aim of the research is to advance existing teacher-centered course model in Estonia with learner-centered methods that best suit specific objectives and meet expected learning outcomes, as well as to improve DG training model with the integrated use of interactive teaching methods. The paper presents a qualitative development research strategy based on studies regarding ADR regulations training courses in Estonia as well as on the analysis of teaching methods applied in the professional training of adults. The data is collected in two steps: firstly by implementing questionnaires for consignors/ consignees, freight forwarders carrier companies and drivers, secondly during in-depth interviews/ focus group meeting with DG regulations training companies’ providers. Implementing methodology of qualitative comparison analysis (QCA combination of best suitable teaching methods is identified. After following in-depth interviews and performing a focus group, these combinations are further used as input for developing existing course model with integrated use of blended learning alternatives, where digital media meets with traditional classroom meth-ods. Results of this research contribute coming up with interactive methodological approach within ADR regulations training courses that meet the best trainees’ expectations and fulfills the risk management aim.

  15. Chlorine transportation risk assessment

    International Nuclear Information System (INIS)

    Lautkaski, Risto; Mankamo, Tuomas.

    1977-02-01

    An assessment has been made on the toxication risk of the population due to the bulk rail transportation of liquid chlorine in Finland. Fourteen typical rail accidents were selected and their probability was estimated using the accident file of the Finnish State Railways. The probability of a chlorine leak was assessed for each type of accident separately using four leak size categories. The assessed leakage probability was dominated by station accidents, especially by collisions of a chlorine tanker and a locomotive. Toxication hazard areas were estimated for the leak categories. A simple model was constructed to describe the centring of the densely populated areas along the railway line. A comparison was made between the obtained risk and some other risks including those due to nuclear reactor accidents. (author)

  16. Risk assessment for the on-site transportation of radioactive wastes for the U.S. Department of Energy Waste Management programmatic environmental impact statement

    International Nuclear Information System (INIS)

    Biwer, B.M.; Monette, F.A.; Chen, S.Y.

    1995-04-01

    This report documents the risk assessment performed for the on-site transportation of radioactive wastes in the U.S. Department of Energy (DOE) Waste Management (WM) Programmatic Environmental Impact Statement (PEIS). Risks for the routine shipment of wastes and the impacts from potential accidental releases are analyzed for operations at the Hanford Site (Hanford) near Richland, Washington. Like other large DOE sites, Hanford conducts waste management operations for all wastes types; consequently, the impacts calculated for Hanford are expected to be greater than those for smaller sites. The risk assessment conducted for on-site transportation is intended to provide an estimate of the magnitude of the potential risk for comparison with off-site transportation risks assessed for the WM PEIS

  17. Risk assessment for the on-site transportation of radioactive wastes for the U.S. Department of Energy Waste Management Programmatic Environmental Impact Statement

    International Nuclear Information System (INIS)

    Biwer, B.M.; Monette, F.A.; Chen, S.Y.

    1996-12-01

    This report documents the risk assessment performed for the on-site transportation of radioactive wastes in the US Department of Energy (DOE) Waste Management Programmatic Environmental Impact Statement (WM PEIS). Risks for the routine shipment of wastes and the impacts from potential accidental releases are analyzed for operations at the Hanford Site (Hanford) near Richland, Washington. Like other large DOE sites, hanford conducts waste management operations for all wastes types; consequently, the impacts calculated for Hanford are expected to be greater than those for smaller sites. The risk assessment conducted for on-site transportation is intended to provide an estimate of the magnitude of the potential risk for comparison with off-site transportation risks assessed for the WM PEIS

  18. Guidelines on the scope, content, and use of comprehensive risk assessment in the management of high-level nuclear waste transportation

    International Nuclear Information System (INIS)

    Golding, D.; White, A.

    1990-12-01

    This report discusses the scope of risk assessment strategies in the management of the transport of high-level radioactive wastes. In spite of the shortcomings of probabilistic risk assessment(PRA), the Transportation Needs Assessment recommended this as the preferred methodology to assess the risks of high level nuclear waste (HLNW) transportation. A PRA also will need to heed the lessons learned from the development and application of PRA elsewhere, such as in the nuclear power industry. A set of guidelines will aid this endeavor by outlining the appropriate scope, content, and use of a risk assessment which is more responsive to the uncertainties, human-technical interactions, social forces, and iterative relationship with risk management strategies, than traditional PRAS. This more expansive definition, which encompasses but is not totally reliant on rigorous data requirements and quantitative probability estimates, we term Comprehensive Risk Assessment (CRA) Guidelines will be developed in three areas: the limitations of existing methodologies and suggested modifications; CRA as part of a flexible, effective, adaptive risk management system for HLNW transportation; and, the use of CRA in risk communication

  19. Defense Programs Transportation Risk Assessment

    International Nuclear Information System (INIS)

    Clauss, D.B.

    1994-01-01

    This paper provides an overview of the methodology used in a probabilistic transportation risk assessment conducted to assess the probabilities and consequences of inadvertent dispersal of radioactive materials arising from severe transportation accidents. The model was developed for the Defense Program Transportation Risk Assessment (DPTRA) study. The analysis incorporates several enhancements relative to previous risk assessments of hazardous materials transportation including newly-developed statistics on the frequencies and severities of tractor semitrailer accidents and detailed route characterization using the 1990 Census data

  20. Risk management

    International Nuclear Information System (INIS)

    Magne, L.

    1999-01-01

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

  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. 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.

  3. Comparison of transports expected under different waste management concepts: determination of basic data for application in risk analyses

    International Nuclear Information System (INIS)

    Alter, U.; Mielke, H.G.; Wehner, G.

    1983-01-01

    According to the Atomic Act, article 9a, paragraph 1, the licensees of nuclear power plants in the Federal Republic of Germany are obliged to provide for the management of radioactive wastes resulting from the operation of these plants. Concerning the provisions to be made for the management of such wastes, two concepts are discussed: nuclear reprocessing and final waste disposal center (Nukleares Entsorgungszentrum, NEZ); and the integrated spent fuel and waste management concept (Integriertes Entsorgungskonzept, IEK). Unlike the NEZ, the IEK-concept may have different sites for the following fuel cycle facilities: intermediate spent fuel storage, reprocessing, waste conditioning and final disposal, and uranium and plutonium fuel element fabrication facilities. The fundamental differences of the pertinent transports are presented. Transport scenarios expected under the two alternatives NEZ and IEK have been elaborated for the purpose of a data collection covering the following aspects: materials to be shipped, number of packages shipped, number of packages shipped per transport, transport by rail or by road, transport routes and distances, and duration of transports

  4. 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 )}.

  5. 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

  6. TRANSPORTATION INDUSTRY EFFECTIVE MANAGEMENT CONDITIONS

    Directory of Open Access Journals (Sweden)

    V. I. Kuznetsov

    2011-01-01

    Full Text Available Main aspects that determine conditions of transportation industry effective management and decrease of transportation expenses are discussed. Theoretical concepts making it possible to solve the problem of scientific management of the whole country’s goods transportation costs are provided for. Main approaches are presented to the solution of motor transport operation ecological optimization problem as well as to the rise of motor transport workers’ labor productivity, to the increase of transportation vehicles use efficiency and to determine functional capacity of the motor transport complex.

  7. Project Risk Management

    Science.gov (United States)

    Jr., R. F. Miles

    1995-01-01

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

  8. 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

  9. Risk assessment for the off-site transportation of high-level waste for the U.S. Department of Energy waste management programmatic environmental impact statement

    International Nuclear Information System (INIS)

    Monette, F.A.; Biwer, B.M.; LePoire, D.J.; Chen, S.Y.

    1996-12-01

    This report describes the human health risk assessment conducted for the transportation of high-level waste (HLW) in support of the US Department of Energy Waste Management Programmatic Environmental Impact Statement (WM PEIS). The assessment considers risks to collective populations and individuals under both routine and accident transportation conditions for truck and rail shipment modes. The report discusses the scope of the HLW transportation assessment, describes the analytical methods used for the assessment, defines the alternatives considered in the WM PEIS, and details important assessment assumptions. Results are reported for five alternatives. In addition, to aid in the understanding and interpretation of the results, specific areas of uncertainty are described, with an emphasis on how the uncertainties may affect comparisons of the alternatives

  10. 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

  11. Management of business risks

    OpenAIRE

    BAZARBAY A.

    2015-01-01

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

  12. 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

  13. Risk assessment for transport operations

    International Nuclear Information System (INIS)

    Appleton, P.R.; Miles, J.C.

    1990-01-01

    The world-wide safety of the transport of radioactive material is based on the IAEA Transport Regulations. Risk assessment can provide quantitative data to help in the demonstration, understanding and improvement of the effectiveness of the Regulations in assuring safety. In this Paper the methodology, data and computer codes necessary and available for transport risk assessment are reviewed. Notable examples of assessments carried out over the past 15 years are briefly described along with current research, and the benefits and limitations of the techniques are discussed. (author)

  14. Commodity risk management

    Directory of Open Access Journals (Sweden)

    Hilary Till

    2016-09-01

    Full Text Available This article discusses the practical issues involved in applying a disciplined risk management methodology to commodity futures trading. Accordingly, the paper shows how to apply methodologies derived from both conventional asset management and hedge fund management to futures trading. The article also discusses some of the risk management issues that are unique to leveraged futures trading.

  15. 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)

  16. Risk assessment in maritime transportation

    International Nuclear Information System (INIS)

    Soares, C. Guedes; Teixeira, A.P.

    2001-01-01

    A review is presented of different approaches to quantify the risk in maritime transportation. The discussion of several accident statistics provides a global assessment of the risk levels and its differentiation in ship types and main types of ship losses. Early studies in the probability of ship loss by foundering and capsizing are reviewed. The approaches used to assess the risk of structural design are addressed. Finally a brief account is given of recent development of using formal safety assessments to support decision making on legislation applicable internationally to maritime transportation

  17. [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.

  18. 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

  19. 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...

  20. 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.

  1. MANAGEMENT OF TOURISM TRANSPORT

    Directory of Open Access Journals (Sweden)

    Gabriela Cecilia STĂNCIULESCU

    2016-06-01

    Full Text Available Undoubtedly, the relevance of transport activities in relation to tourism activities is essential, because it is extremely important and necessary to offer feasible information about tourism services to help consumer to choose the mode of travel to destinations ideal holiday. The methods used in the development of this hypothesis were explanation, exemplification (brief presentation of each mode of transport comparison etc. Analyzing the current situation of national, European and World Wide tourism transportation, the paper proposes practical applications able to explain that the conduct of economic activities as an integral part of the sector of trade and services within a national economy, would not be possible without the involvement of transport, whether by road, rail and air and naval. The results of the analysis are perfectly applicable offering guests the opportunity to reach the most remote corners of the world in a short time, high degree of comfort and affordable price.

  2. 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...

  3. 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?”

  4. 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...

  5. 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.

  6. Identifying and Managing Risk.

    Science.gov (United States)

    Abraham, Janice M.

    1999-01-01

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

  7. Modeling Terrorism Risk to the Air Transportation System: An Independent Assessment of TSA’s Risk Management Analysis Tool and Associated Methods

    Science.gov (United States)

    2012-01-01

    considered under RMAT, expanding the range of attack pathways available to attackers, and inclusion of off-airport freight pro- cessing, catering ...perspectives on risk from Boeing and from consultations with Randy Harris of Delta Airlines , Eric Thacker of the Air Transport Association, and Chris...multiple first-class airline tickets) and, as a result, less attractive than publicly available information, which is relatively inexpensive. It

  8. 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

  9. Spillage of Viable Seeds of Oilseed Rape along Transportation Routes: Ecological Risk Assessment and Perspectives on Management Efforts

    Directory of Open Access Journals (Sweden)

    Kathrin Pascher

    2017-09-01

    Full Text Available Seed spillage during handling and transportation promotes establishment and invasion of feral crops into adjacent semi-natural habitats. This is also the case for oilseed rape (OSR, Brassica napus, where seed spillage may lead to establishment of herbicide resistant OSR populations in countries without cultivation of genetically modified OSR. Using data from Austria—where cultivation and import of genetically modified OSR are banned—as a prime example, we demonstrate that ports, oil mills, switchyards, and border railway stations to countries with different electric current systems—where trains have to stop—are the sites of primary concern with respect to seed spillage. Based on the results of the Austrian case study we discuss common measures to limit crop seed spillage which include intensified controls at border railway stations and the mode of seed packing during transportation. We further recommend sufficient cleaning both of goods wagons and of loading areas of trucks and ships as well as an appropriate weed management.

  10. Risk variables in evaluation of transport projects

    Science.gov (United States)

    Vařbuchta, Petr; Kovářová, Hana; Hromádka, Vít; Vítková, Eva

    2017-09-01

    Depending on the constantly increasing demands on assessment of investment projects, especially assessment of large-scale projects in transport and important European projects with wide impacts, there is constantly increasing focus on risk management, whether to find mitigations, creating corrective measures or their implementation in assessment, especially in the context of Cost-Benefit analysis. To project assessment is often used implementation of certain risk variables, which can generate negative impacts of project outputs in framework of assess. Especially in case of transportation infrastructure projects is taken much emphasis on the influence of risk variables. However, currently in case of assessment of transportation projects is in Czech Republic used a few risk variables, which occur in the most projects. This leads to certain limitation in framework of impact assessment of risk variables. This papers aims to specify a new risk variables and process of applying them to already executed project assessment. Based on changes generated by new risk variables will be evaluated differences between original and adapted assessment.

  11. Perspectives: Intellectual Risk Management

    Science.gov (United States)

    Hall, James C.

    2013-01-01

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

  12. Risk Management and Simulation

    DEFF Research Database (Denmark)

    Skovmand, David

    2014-01-01

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

  13. Comparison of the transportation risks for the spent fuel in Korea for different transportation scenarios

    International Nuclear Information System (INIS)

    Jeong, Jongtae; Cho, D.K.; Choi, H.J.; Choi, J.W.

    2011-01-01

    According to the long term management strategy for spent fuels in Korea, they will be transported from the spent fuel pools in each nuclear power plant to the central interim storage facility (CISF) which is to start operation in 2016. At the start of the operation of the final repository (FR), by the year 2065, transport will then take place between the CISF and the FR. Therefore, we have to determine the safe and economical logistics for the transportation of these spent fuels by considering their transportation risks and costs. In this study, we developed four transportation scenarios for a maritime transportation by considering the type of transportation casks and transport means in order to suggest safe and economical transportation logistics for the spent fuels in Korea. And, we estimated and compared the transportation risks for these four transportation scenarios. Also, we estimated and compared the transportation risks resulting from accidents during the transportation of PWR and PHWR spent fuels by road trailers from the CISF and the FR. From the results of this study, we found that risks resulting from accidents during the transportation of the spent fuels have a very low radiological risk activity with a manageable safety and health consequences. The results of this study can be used as basic data for the development of safe and economical logistics for a transportation of the spent fuels in Korea by considering the transportation costs for the four scenarios which will be needed in the near future.

  14. CEA - Assessment of risk management 2013

    International Nuclear Information System (INIS)

    Bigot, Bernard; Bonnevie, Edwige; Maillot, Bernard

    2014-06-01

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

  15. 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....

  16. 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...

  17. 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.

  18. Management of Transportation Equipment.

    Science.gov (United States)

    1982-11-01

    Record% % %. "jP -M -. M LIh TRANSPORTATION MAENTKENAI4CE SHOP WORKLOAD CONTROL WORK CENTER SADR A-OR .a’* tLR 4.,R53 8114LM 0 o 251 50 75 100 125 ISO ...PDBP 06 7 4892 TRACTOR, WHEEL, INDUST, 14001-20000 PDBP 06 7 4893 TRACTOR, WHEEL, INDUST, 20001-27000 PDBP 06 7 4894 TRACTOR, WHEEL, INDUST, 27001 PDBP...27K TRACTOR, WHEEL, INDUST, 27001 PDBP & UP P-i LINE ITEM 07 LIGHTING AND POWER GENERATION EQUIPMENT 5110 T FLOODLIGHT ELEC FLOODLIGHT, ELEC, TRUCK

  19. From risk analysis to risk control in land transport of dangerous materials. Contribution of quantitative evaluation

    International Nuclear Information System (INIS)

    Hubert, Ph.; Pages, P.

    1985-03-01

    The different approaches of risks and risk management system are described: statistics, potential risk, prevention, information and intervention. Quantitative evaluation is developed: data collection, purposes and methods. Two examples of application are given on risks associated to road transport of propane and of uranium hexafluoride. In conclusion level of risk and practical use of studies on risks are examined. 41 refs [fr

  20. Hydrocarbons pipeline transportation risk assessment

    Science.gov (United States)

    Zanin, A. V.; Milke, A. A.; Kvasov, I. N.

    2018-04-01

    The pipeline transportation applying risks assessment issue in the arctic conditions is addressed in the paper. Pipeline quality characteristics in the given environment has been assessed. To achieve the stated objective, the pipelines mathematical model was designed and visualized by using the software product SOLIDWORKS. When developing the mathematical model the obtained results made possible to define the pipeline optimal characteristics for designing on the Arctic sea bottom. In the course of conducting the research the pipe avalanche collapse risks were examined, internal longitudinal and circular loads acting on the pipeline were analyzed, as well as the water impact hydrodynamic force was taken into consideration. The conducted calculation can contribute to the pipeline transport further development under the harsh climate conditions of the Russian Federation Arctic shelf territory.

  1. Management Planning In Transport

    Directory of Open Access Journals (Sweden)

    Teodor Perić

    2004-07-01

    Full Text Available Management planning in traffic and other activities includesa choice of missions and goals, as well as actions undertakenfor their realisation. It requires decision-making, that is,a choice among alternative trends of future actions. Therefore,planning and control are closely related.There are several types of plans: purposes or missions,goals, strategies, policies, procedures, rules, programs and calculations.Once managers become aware of the opportunities, they rationallyplan the setting of the goals and assumptions about thecurrent and future environment, finding and evaluating alternativetrends, and selecting the one that is to be followed.Therefore, planning means looking ahead and controlmeans looking backwards. The concept of overall planning,thus including traffic planning, illustrates the approach to managementwhich is based on the achieved goals.

  2. 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)

  3. 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...

  4. 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

  5. Risk Management Plan Rule

    Science.gov (United States)

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

  6. Comparison of the Transportation Risks Resulting from Accidents during the Transportation of the Spent Fuel

    International Nuclear Information System (INIS)

    Jeong Jong Tae; Cho, Dong Kuen; Choi, Heui Joo; Choi, Jong Won

    2007-01-01

    The safe, environmentally sound and publicly acceptable disposal of high level wastes and spent fuels is becoming a very important issue. The operational safety assessment of a repository including a transportation safety assessment is a fundamental part in order to achieve this goal. According to the long term management strategy for spent fuels in Korea, they will be transported from the spent fuel pools in each nuclear power plant to the central interim storage facility (CISF) which is to start operation in 2016. Therefore, we have to determine the safe and economical logistics for the transportation of these spent fuels by considering their transportation risks and costs. In this study, we developed four transportation scenarios by considering the type of transportation casks and transport means in order to suggest safe and economical transportation logistics for spent fuels. Also, we estimated and compared the transportation risks resulting from the accidents during the transportation of spent fuels for these four transportation scenarios

  7. Supplemental information related to risk assessment for the off-site transportation of low-level mixed waste for the U.S. Department of Energy waste management programmatic environmental impact statement

    International Nuclear Information System (INIS)

    Monette, F.A.; Biwer, B.M.; LePoire, D.J.; Lazaro, M.A.; Antonopoulos, A.A.; Hartmann, H.M.; Policastro, A.J.; Chen, S.Y.

    1996-12-01

    This report provides supplemental information to support the human health risk assessment conducted for the transportation of low-level mixed waste (LLMW) in support of the US Department of Energy Waste Management Programmatic Environmental Impact Statement (WM PEIS). The assessment considers both the radioactive and chemical hazards associated with LLMW transportation. Detailed descriptions of the transportation health risk assessment methods and results of the assessment are presented in Appendix E of the WM PEIS. This report presents additional information that is not included in Appendix E but that was needed to conduct the transportation risk assessment for Waste Management (WM) LLMW. Included are definitions of the LLMW alternatives considered in the WM PEIS; data related to the inventory and to the physical, chemical, and radiological characteristics of WM LLMW; an overview of the risk assessment methods; and detailed results of the assessment for each WM LLMW case considered

  8. Supplemental information related to risk assessment for the off-site transportation of low-level mixed waste for the U.S. Department of Energy Waste Management programmatic environmental impact statement

    International Nuclear Information System (INIS)

    Monette, F.A.; Biwer, B.M.; LePoire, D.J.

    1995-04-01

    This report provides supplemental information to support the human health risk assessment conducted for the transportation of low-level mixed waste (LLMW) in support of the US Department of Energy Waste Management Programmatic Environmental Impact Statement (WM PEIS). The assessment considers both the radioactive and chemical hazards associated with LLMW transportation. Detailed descriptions of the transportation health risk assessment methods and results of the assessment are presented in Appendix E of the WM PEIS. This report presents additional information that is not included in Appendix E but is necessary to conduct the transportation risk assessment for Waste Management (WM) LLMW. Included are definitions of the LLMW alternatives considered in the WM PEIS; data related to the inventory and to the physical, chemical, and radiological characteristics of WM LLMW; an overview of the risk assessment methods; and detailed results of the assessment for each WM LLMW case considered

  9. 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....

  10. Governmental management of chemical risk

    International Nuclear Information System (INIS)

    Zimmerman, R.

    1990-01-01

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

  11. 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)

  12. 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

  13. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

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

  14. Development of risk management strategies for state DOTs to effectively deal with volatile prices of transportation construction materials.

    Science.gov (United States)

    2014-06-01

    Volatility in price of critical materials used in transportation projects, such as asphalt cement, leads to : considerable uncertainty about project cost. This uncertainty may lead to price speculation and inflated : bid prices submitted by highway c...

  15. Clean Slate transportation and human health risk assessment

    International Nuclear Information System (INIS)

    1997-02-01

    Public concern regarding activities involving radioactive material generally focuses on the human health risk associated with exposure to ionizing radiation. This report describes the results of a risk analysis conducted to evaluate risk for excavation, handling, and transport of soil contaminated with transuranics at the Clean Slate sites. Transportation risks were estimated for public transport routes from the Tonopah Test Range (TTR) to the Envirocore disposal facility or to the Area 3 Radioactive Waste Management Site (RWMS) at the Nevada Test Site (NTS) for both radiological risk and risk due to traffic accidents. Human health risks were evaluated for occupational and radiation-related health effects to workers. This report was generated to respond to this public concern, to provide an evaluation of the risk, and to assess feasibility of transport of the contaminated soil for disposal

  16. Air quality risk management.

    Science.gov (United States)

    Williams, Martin L

    2008-01-01

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

  17. Managing power risk

    International Nuclear Information System (INIS)

    Rudd, D.C.

    1999-01-01

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

  18. Management of radiation risk

    International Nuclear Information System (INIS)

    Hubert, P.

    1996-01-01

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

  19. Managing Chemical & Material Risks

    Science.gov (United States)

    2011-12-01

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

  20. Acquisition management of the Global Transportation Network

    Science.gov (United States)

    2001-08-02

    This report discusses the acquisition management of the Global transportation Network by the U.S. Transportation Command. This report is one in a series of audit reports addressing DoD acquisition management of information technology systems. The Glo...

  1. Managing risk at Hanford

    International Nuclear Information System (INIS)

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

    1994-01-01

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

  2. Investigation of risk management auditing

    International Nuclear Information System (INIS)

    Cao Lu

    2012-01-01

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

  3. Managing Risk and Opportunity

    DEFF Research Database (Denmark)

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

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

  4. Hazardous waste transportation risk assessment for the US Department of Energy Environmental Restoration and Waste Management Programmatic Environmental Impact Statement -- human health endpoints

    International Nuclear Information System (INIS)

    Hartmann, H.M.; Policastro, A.J.; Lazaro, M.A.

    1994-01-01

    In this presentation, a quantitative methodology for assessing the risk associated with the transportation of hazardous waste (HW) is proposed. The focus is on identifying air concentrations of HW that correspond to specific human health endpoints

  5. Risk management in customs control

    OpenAIRE

    Drobot, Elena; Klevleeva, Aziza

    2016-01-01

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

  6. Risk management in nuclear projects

    International Nuclear Information System (INIS)

    Salles, Claudio J.R.

    2002-01-01

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

  7. Risk assessment for the transportation of hazardous waste and hazardous waste components of low-level mixed waste and transuranic waste for the US Department of Energy waste management programmatic environmental impact statement

    International Nuclear Information System (INIS)

    Lazaro, M.A.; Policastro, A.J.; Hartmann, H.M.; Chang, Y.S.

    1996-12-01

    This report, a supplement to Appendix E (Transportation Risk) of the U.S. Department of Energy Waste Management Programmatic Environmental Impact Statement (WM PEIS), provides additional information supporting the accident data for chemical risk assessment and health risk methodology described in that appendix (Part II) and presents the uncertainty analysis and on-site risk calculations. This report focuses on hazardous material truck accident rates, release probabilities, and release quantities; provides the toxicological values derived for each hazardous chemical assessed in the WM PEIS and further details on the derivation of health criteria; describes the method used in the transportation risk assessments to address potential additivity of health effects from simultaneous exposure to several chemicals and the method used to address transportation risks for maximally exposed individuals; presents an expanded discussion of the uncertainty associated with transportation risk calculations; and includes the results of the on-site transportation risk analysis. In addition, two addenda are provided to detail the risk assessments conducted for the hazardous components of low-level mixed waste (Addendum I) and transuranic waste (Addendum II)

  8. Risk assessment for the transportation of hazardous waste and hazardous waste components of low-level mixed waste and transuranic waste for the U.S. Department of Energy waste management programmatic environmental impact statement

    International Nuclear Information System (INIS)

    Lazaro, M.A.; Policastro, A.J.; Hartmann, H.M.

    1995-04-01

    This report, a supplement to Appendix E (Transportation Risk) of the U.S. Department of Energy Waste Management Programmatic Environmental Impact Statement (WM PEIS), provides additional information supporting the accident data for chemical risk assessment and health risk methodology described in that appendix (Part II), as well as providing the uncertainty analysis and on-site risk calculations. This report focuses on hazardous material truck accident rates, release probabilities, and release quantities; provides the toxicological values derived for each hazardous chemical assessed in the WM PEIS and further details on the derivation of health criteria; describes the method used in the transportation risk assessments to address potential additivity of health effects from simultaneous exposure to several chemicals and the method used to address transportation risks for maximally exposed individuals; presents an expanded discussion of the uncertainty associated with transportation risk calculations; and includes the results of the on-site transportation risk analysis. In addition, two addenda are provided to detail the risk assessments conducted for the hazardous components of low-level mixed waste (Addendum I) and transuranic waste (Addendum II)

  9. 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....

  10. Transport of anhydrous ammoniac - risk assessment

    International Nuclear Information System (INIS)

    Castellano, S.; Degrange, J.P.; Hubert, P.; Pages, P.; Lamblin, J.

    1989-12-01

    This risk analysis of anhydrous ammonia transport in France was done within a study initiated by the Department of dangerous goods of the Ministry of transport. The study deals with the road and rail transportation of bulk anhydrous ammonia. After analysis of transport system and traffic, the transport accident risks are estimated, as well as their distribution on the French territory. Finally after a synthesis of results, a number of safety measures to be undertaken were identified. This is a joint study of SMC-CEPN, with a specific role of SEMA-METRA-CONSEIL concerning the traffic frequency, and the center for risk evaluation concerning nuclear safety

  11. 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.

  12. Transportation risks in the US nuclear fuel cycle

    International Nuclear Information System (INIS)

    Rhoads, R.E.; Andrews, W.B.

    1980-01-01

    Estimated risks associated with accidental releases of materials transported for each step of the nuclear fuel cycle are presented. The risk estimates include both immediate and latent fatilities caused by releases of these materials in transportation accidents. Studies of the risk of transporting yellowcake, fresh nuclear and low level wastes from the front end of the fuel cycle have not been completed. Existing information does permit estimates of the risks to be made. The estimates presented result from the very low hazards associated with release of these materials. These estimates are consistent with the results of other studies. The results show that risks from all the fuel cycle transportation steps are low. The results also indicate that the total transportation risks associated with the nuclear fuel cycle are distributed about evenly between the fuel supply end and waste management end of the cycle. Risks in the front end of the cycle result primarily from the chemical toxicity of the materials transported. The results of the risk analysis studies for transportation of nuclear fuel cycle materials are compared with the results for the three studies that have been completed for non-nuclear systems. The risk analysis methodology used in these studies identifies the complete spectrum of potential accident consequences and estimates the probability of events producing that level of consequence. The maximum number of fatalities predicted for each material is presented. A variety of risk measures have been used because of the inherent difficulties in making risk comparisons. Examination of a number of risk measures can provide additional insights and help guard against conclusions that are dependent on the way the risk information has been developed and displayed. The results indicate that the risks from transporting these materials are all relatively low in comparison to other risks in society

  13. Information Risk Management and Resilience

    Science.gov (United States)

    Dynes, Scott

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

  14. Nuclear risk management

    International Nuclear Information System (INIS)

    2001-01-01

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

  15. Nuclear risk management

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-07-01

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

  16. Transportation engineering project management : survey of practice.

    Science.gov (United States)

    2017-01-01

    Utah Department of Transportation (UDOT) project managers (PMs) have identified inefficiencies in the legacy : system electronic Program Management (ePM) used to manage consultant contracts and invoices. To help UDOT : prepare for potential system im...

  17. 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...

  18. 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.

  19. Managing Complex Environmental Risks

    Energy Technology Data Exchange (ETDEWEB)

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

    2006-09-15

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

  20. Managing Complex Environmental Risks

    International Nuclear Information System (INIS)

    Karlsson, Mikael

    2006-01-01

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

  1. Environmental risk analysis of hazardous material rail transportation

    International Nuclear Information System (INIS)

    Saat, Mohd Rapik; Werth, Charles J.; Schaeffer, David; Yoon, Hongkyu; Barkan, Christopher P.L.

    2014-01-01

    Highlights: • Comprehensive, nationwide risk assessment of hazardous material rail transportation. • Application of a novel environmental (i.e. soil and groundwater) consequence model. • Cleanup cost and total shipment distance are the most significant risk factors. • Annual risk varies from $20,000 to $560,000 for different products. • Provides information on the risk cost associated with specific product shipments. -- Abstract: An important aspect of railroad environmental risk management involves tank car transportation of hazardous materials. This paper describes a quantitative, environmental risk analysis of rail transportation of a group of light, non-aqueous-phase liquid (LNAPL) chemicals commonly transported by rail in North America. The Hazardous Materials Transportation Environmental Consequence Model (HMTECM) was used in conjunction with a geographic information system (GIS) analysis of environmental characteristics to develop probabilistic estimates of exposure to different spill scenarios along the North American rail network. The risk analysis incorporated the estimated clean-up cost developed using the HMTECM, route-specific probability distributions of soil type and depth to groundwater, annual traffic volume, railcar accident rate, and tank car safety features, to estimate the nationwide annual risk of transporting each product. The annual risk per car-mile (car-km) and per ton-mile (ton-km) was also calculated to enable comparison between chemicals and to provide information on the risk cost associated with shipments of these products. The analysis and the methodology provide a quantitative approach that will enable more effective management of the environmental risk of transporting hazardous materials

  2. Environmental risk analysis of hazardous material rail transportation

    Energy Technology Data Exchange (ETDEWEB)

    Saat, Mohd Rapik, E-mail: mohdsaat@illinois.edu [Department of Civil and Environmental Engineering, University of Illinois at Urbana-Champaign, 1243 Newmark Civil Engineering Laboratory, 205 North Mathews Avenue, Urbana, IL 61801 (United States); Werth, Charles J.; Schaeffer, David [Department of Civil and Environmental Engineering, University of Illinois at Urbana-Champaign, 1243 Newmark Civil Engineering Laboratory, 205 North Mathews Avenue, Urbana, IL 61801 (United States); Yoon, Hongkyu [Sandia National Laboratories, Albuquerque, NM 87123 (United States); Barkan, Christopher P.L. [Department of Civil and Environmental Engineering, University of Illinois at Urbana-Champaign, 1243 Newmark Civil Engineering Laboratory, 205 North Mathews Avenue, Urbana, IL 61801 (United States)

    2014-01-15

    Highlights: • Comprehensive, nationwide risk assessment of hazardous material rail transportation. • Application of a novel environmental (i.e. soil and groundwater) consequence model. • Cleanup cost and total shipment distance are the most significant risk factors. • Annual risk varies from $20,000 to $560,000 for different products. • Provides information on the risk cost associated with specific product shipments. -- Abstract: An important aspect of railroad environmental risk management involves tank car transportation of hazardous materials. This paper describes a quantitative, environmental risk analysis of rail transportation of a group of light, non-aqueous-phase liquid (LNAPL) chemicals commonly transported by rail in North America. The Hazardous Materials Transportation Environmental Consequence Model (HMTECM) was used in conjunction with a geographic information system (GIS) analysis of environmental characteristics to develop probabilistic estimates of exposure to different spill scenarios along the North American rail network. The risk analysis incorporated the estimated clean-up cost developed using the HMTECM, route-specific probability distributions of soil type and depth to groundwater, annual traffic volume, railcar accident rate, and tank car safety features, to estimate the nationwide annual risk of transporting each product. The annual risk per car-mile (car-km) and per ton-mile (ton-km) was also calculated to enable comparison between chemicals and to provide information on the risk cost associated with shipments of these products. The analysis and the methodology provide a quantitative approach that will enable more effective management of the environmental risk of transporting hazardous materials.

  3. SDDOT transportation systems management & operations program plan.

    Science.gov (United States)

    2016-06-01

    The objective of this project is the development of a comprehensive Transportation Systems Management and : Operations (TSM&O) Program Plan for the South Dakota Department of Transportation. This plan guides : business planning and strategic decision...

  4. Probabilistic Risk Assessment on Maritime Spent Nuclear Fuel Transportation

    Energy Technology Data Exchange (ETDEWEB)

    Christian, Robby; Kang, Hyun Gook [KAIST, Daejeon (Korea, Republic of)

    2016-05-15

    Spent nuclear fuel (SNF) management has been an indispensable issue in South Korea. Before a long term SNF solution is implemented, there exists the need to distribute the spent fuel pool storage loads. Transportation of SNF assemblies from populated pools to vacant ones may preferably be done through the maritime mode since all nuclear power plants in South Korea are located at coastal sites. To determine its feasibility, it is necessary to assess risks of the maritime SNF transportation. This work proposes a methodology to assess the risk arising from ship collisions during the transportation of SNF by sea. Its scope is limited to the damage probability of SNF packages given a collision event. The effect of transport parameters' variation to the package damage probability was investigated to obtain insights into possible ways to minimize risks. A reference vessel and transport cask are given in a case study to illustrate the methodology's application.

  5. Spent Nuclear Fuel Transportation Risk Assessment Methodology for Homeland Security

    International Nuclear Information System (INIS)

    Teagarden, Grant A.; Canavan, Kenneth T.; Nickell, Robert E.

    2006-01-01

    In response to increased interest in risk-informed decision making regarding terrorism, EPRI was selected by U.S. DHS and ASME to develop and demonstrate a nuclear sector specific methodology for owner / operators to utilize in performing a Risk Analysis and Management for Critical Asset Protection (RAMCAP) assessment for the transportation of spent nuclear fuel (SNF). The objective is to characterize SNF transportation risk for risk management opportunities and to provide consistent information for DHS decision making. The method uses a characterization of risk as a function of Consequence, Vulnerability, and Threat. Worst reasonable case scenarios characterize risk for a benchmark set of threats and consequence types. A trial application was successfully performed and implementation is underway by one utility. (authors)

  6. 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,…

  7. Managing Corruption Risks

    DEFF Research Database (Denmark)

    Krause Hansen, Hans

    2011-01-01

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

  8. 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...

  9. 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

  10. Managing Climate Change Risks

    Energy Technology Data Exchange (ETDEWEB)

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

    2003-07-01

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

  11. Communicating Risk to Program Managers

    Science.gov (United States)

    Shivers, C. Herbert

    2005-01-01

    Program Managers (PM) can protect program resources and improve chances of success by anticipating, understanding and managing risks. Understanding the range of potential risks helps one to avoid or manage the risks. A PM must choose which risks to accept to reduce fire fighting, must meet the expectations of stakeholders consistently, and avoid falling into costly "black holes" that may open. A good risk management process provides the PM more confidence to seize opportunities save money, meet schedule, even improve relationships with people important to the program. Evidence of managing risk and sound internal controls can mean better support from superiors for the program by building a trust and reputation from being on top of issues. Risk managers have an obligation to provide the PM with the best information possible to allow the benefits to be realized (Small Business Consortium, 2004). The Institute for Chartered Accountants in England and Wales sees very important benefits for companies in providing better information about what they do to assess and manage key business risks. Such information will: a) provide practical forward-looking information; b) reduce the cost of capital; c) encourage better risk management; and d) improve accountability for stewardship, investor protection and the usefulness of financial reporting. We are particularly convinced that enhanced risk reporting will help listed companies obtain capital at the lowest possible cost (The Institute of Chartered Accountants in England &Wales, June 2002). Risk managers can take a significant role in quantifying the success of their department and communicating those figures to executive (program) management levels while pushing for a broader risk management role. Overall, risk managers must show that risk management work matters in the most crucial place-the bottom line- as they prove risk management can be a profit center (Sullivan, 2004).

  12. 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.

  13. Managing Transportation Infrastructure for Sustainable Development

    NARCIS (Netherlands)

    Akinyemi, Edward O.; Zuidgeest, M.H.P.

    Major requirements for operationalization of the concept of sustainable development in urban transportation infrastructure operations management are presented. In addition, it is shown that the current approach to management is incompatible with the requirements for sustainable urban development.

  14. Managing information technology security risk

    Science.gov (United States)

    Gilliam, David

    2003-01-01

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

  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. 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.

  17. 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...

  18. 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...

  19. 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

  20. 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

  1. Risk assessment and risk management in managed aquifer recharge

    CSIR Research Space (South Africa)

    Page, D

    2012-06-01

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

  2. Understanding and managing risk attitude

    National Research Council Canada - National Science Library

    Hillson, David; Murray-Webster, Ruth

    2007-01-01

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

  3. 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.

  4. Crew Transportation Technical Management Processes

    Science.gov (United States)

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

    2013-01-01

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

  5. 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.

  6. 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.

  7. 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...

  8. 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.

  9. 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.

  10. The transport forecast - an important stage of transport management

    Science.gov (United States)

    Dragu, Vasile; Dinu, Oana; Oprea, Cristina; Alina Roman, Eugenia

    2017-10-01

    The transport system is a powerful system with varying loads in operation coming from changes in freight and passenger traffic in different time periods. The variations are due to the specific conditions of organization and development of socio-economic activities. The causes of varying loads can be included in three groups: economic, technical and organizational. The assessing of transport demand variability leads to proper forecast and development of the transport system, knowing that the market price is determined on equilibrium between supply and demand. The reduction of transport demand variability through different technical solutions, organizational, administrative, legislative leads to an increase in the efficiency and effectiveness of transport. The paper presents a new way of assessing the future needs of transport through dynamic series. Both researchers and practitioners in transport planning can benefit from the research results. This paper aims to analyze in an original approach how a good transport forecast can lead to a better management in transport, with significant effects on transport demand full meeting in quality terms. The case study shows how dynamic series of statistics can be used to identify the size of future demand addressed to the transport system.

  11. GIS risk analysis of hazardous materials transport

    International Nuclear Information System (INIS)

    Anders, C.; Olsten, J.

    1991-01-01

    The Geographic Information System (GIS) was used to assess the risks and vulnerability of transporting hazardous materials and wastes (such as gasoline, explosives, poisons, etc) on the Arizona highway system. This paper discusses the methodology that was utilized, and the application of GIS systems to risk analysis problems

  12. 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

  13. 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.

  14. 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…

  15. 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, ...

  16. 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 ...

  17. Managing the risks of risk management on large fires

    Science.gov (United States)

    Donald G. MacGregor; Armando González-Cabán

    2013-01-01

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

  18. Quality Assurance Plan for Transportation Management Division Transportation Training Programs

    International Nuclear Information System (INIS)

    1994-10-01

    The U.S. Department of Transportation (DOT) implemented new rules requiring minimum levels of training for certain key individuals who handle, package, transport, or otherwise prepare hazardous materials for transportation. In response to these rules, the U.S. Department of Energy (DOE), Transportation Management Division (TMD), has developed a transportation safety training program. This program supplies designed instructional methodology and course materials to provide basic levels of DOT training to personnel for whom training has become mandatory. In addition, this program provides advanced hazardous waste and radioactive material packaging and transportation training to help personnel achieve proficiency and/or certification as hazardous waste and radioactive material shippers. This training program does not include site-specific or task-specific training beyond DOT requirements

  19. 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...

  20. Personality and risk perception in transport.

    Science.gov (United States)

    Fyhri, Aslak; Backer-Grøndahl, Agathe

    2012-11-01

    Within research on individual variations in risk perception, personality has been suggested as one important factor. In the present study, personality traits (44 items from the Big Five inventory) were investigated in relation to risk perception in transport and transport behavioural adaptations. In a sample of 312 participants, we found that the personality trait 'emotional stability versus neuroticism' was negatively correlated with risk perception (operationalised as "thinking about the possibility") of an accident (-0.38) and an unpleasant incident, such as crime, violence, robbery (-0.25). 'Agreeableness' was also negatively related to risk perception, however first and foremost in relation to perceived risk for unpleasant incidents on transport modes in which one interacts with other people (0.25). Moreover, regression analyses showed that 'emotional stability' was a significant predictor of behavioural adaptations on bus. Regression analyses explained between 17 and 26 percent of variance in behavioural adaptations. The results show that different groups of people vary systematically in their perception of risk in transport. Furthermore, these differences are manifest as a difference in risk-preventive behaviour at a strategic level, i.e. as decisions about avoiding risky situations. Copyright © 2012 Elsevier Ltd. All rights reserved.

  1. 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.

  2. 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.

  3. 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 ...

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

    International Nuclear Information System (INIS)

    Collins, John

    2009-01-01

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

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

    Energy Technology Data Exchange (ETDEWEB)

    John Collins

    2009-09-01

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

  6. Automated transportation management system (ATMS) software project management plan (SPMP)

    Energy Technology Data Exchange (ETDEWEB)

    Weidert, R.S., Westinghouse Hanford

    1996-05-20

    The Automated Transportation Management System (ATMS) Software Project Management plan (SPMP) is the lead planning document governing the life cycle of the ATMS and its integration into the Transportation Information Network (TIN). This SPMP defines the project tasks, deliverables, and high level schedules involved in developing the client/server ATMS software.

  7. Sustainable Transportation - Indicators, Frameworks, and Performance Management

    DEFF Research Database (Denmark)

    Gudmundsson, Henrik; Hall, Ralph P.; Marsden, Greg

    This textbook provides an introduction to the concept of sustainability in the context of transportation planning, management, and decision-making. The book is divided into two parts. In the first part, indicators and frameworks for measuring sustainable development in the transportation sector...... are developed. In the second, the authors analyze actual planning and decision-making in transportation agencies in a variety of governance settings. This analysis of real-world case studies demonstrates the benefits and limitations of current approaches to sustainable development in transportation. The book...... concludes with a discussion on how to make sustainability count in transportation decision-making and practice....

  8. Strategy development management of Multimodal Transport Network

    Directory of Open Access Journals (Sweden)

    Nesterova Natalia S.

    2016-01-01

    Full Text Available The article gives a brief overview of works on the development of transport infrastructure for multimodal transportation and integration of Russian transport system into the international transport corridors. The technology for control of the strategy, that changes shape and capacity of Multi-modal Transport Network (MTN, is considered as part of the methodology for designing and development of MTN. This technology allows to carry out strategic and operational management of the strategy implementation based on the use of the balanced scorecard.

  9. 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

  10. 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

  11. Department of Transport Management Tec

    African Journals Online (AJOL)

    USER

    2017-05-25

    May 25, 2017 ... routine vehicle inspection operations to the overall transport system in Abu a. It concludes that vehicle ... The design is such ... of the methodology while section three handles the results ... study passenger choice of airport and.

  12. 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...

  13. Risk management for whales

    OpenAIRE

    Cont, R; Wagalath, L

    2016-01-01

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

  14. Business risk management

    International Nuclear Information System (INIS)

    Cosby, C.

    2015-01-01

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

  15. Business risk management

    Energy Technology Data Exchange (ETDEWEB)

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

    2015-07-01

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

  16. The Adaptation of Ways and Methods of Risk Minimization in Local Payment Systems in Public Transport

    Directory of Open Access Journals (Sweden)

    Avdaev Mausar Yushaevich

    2014-12-01

    Full Text Available The problems of risk management gain special relevance in the conditions of payment systems development in public passenger transport in Russia. The risk carriers as well as the sources of their occurrence are revealed; the characteristics of private risks of individual participants in the system of public passenger transport are presented. The directions of risk management in relation to the payment system in public transport are reasoned and structured. It is proved that the choice of specific ways to minimize the risks in local payment systems in public transport is conditioned by the following factors – the nature of the payment system integration in public transport areas, the temporary nature of risk components effect due to the improvement of organizational, economic and technological factors, the change of the stages of payment systems development, the evaluation of risks effects. The article reasons the possibility of using and adjusting traditional ways (risk evasion, risk compensation, decrease in risk level, risk transfer, distribution of risk between participants and the methods of risk management in the payment systems in public transport according to the stages of their development and functioning for the processing center, passenger motor transport organizations, financial center and passengers (payers. The authors justify the directions of integrating the local payment systems of public transport in the national payment system, taking into account the risks involved in the activity of its members.

  17. TRECII: a computer program for transportation risk assessment

    International Nuclear Information System (INIS)

    Franklin, A.L.

    1980-05-01

    A risk-based fault tree analysis method has been developed at the Pacific Northwest Laboratory (PNL) for analysis of nuclear fuel cycle operations. This methodology was developed for the Department of Energy (DOE) as a risk analysis tool for evaluating high level waste management systems. A computer package consisting of three programs was written at that time to assist in the performance of risk assessment: ACORN (draws fault trees), MFAULT (analyzes fault trees), and RAFT (calculates risk). This methodology evaluates release consequences and estimates the frequency of occurrence of these consequences. This document describes an additional risk calculating code which can be used in conjunction with two of the three codes for transportation risk assessment. TRECII modifies the definition of risk used in RAFT (prob. x release) to accommodate release consequences in terms of fatalities. Throughout this report risk shall be defined as probability times consequences (fatalities are one possible health effect consequence). This methodology has been applied to a variety of energy material transportation systems. Typically the material shipped has been radioactive, although some adaptation to fossil fuels has occurred. The approach is normally applied to truck or train transport systems with some adaptation to pipelines and aircraft. TRECII is designed to be used primarily in conjunction with MFAULT; however, with a moderate amount of effort by the user, it can be implemented independent of the risk analysis package developed at PNL. Code description and user instructions necessary for the implementation of the TRECII program are provided

  18. 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.

  19. 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

  20. Applying transportation asset management in Connecticut.

    Science.gov (United States)

    2008-12-01

    The study consists primarily of a detailed review of those states that utilize transportation asset management (TAM) systems that may be applicable for Connecticuts consideration, and includes as well the identification of a comprehensive pavement...

  1. Responsive Multimodal Transportation Management Strategies And IVHS

    Science.gov (United States)

    1995-02-01

    THE PURPOSE OF THIS STUDY WAS TO INVESTIGATE NEW AND INNOVATIVE WAYS TO INCORPORATE IVHS TECHNOLOGIES INTO MULTIMODAL TRANSPORTATION MANAGEMENT STRATEGIES. MUCH OF THE IVHS RESEARCH DONE TO DATE HAS ADDRESSED THE MODES INDIVIDUALLY. THIS PROJECT FOCU...

  2. Perception of risks in transporting radioactive materials

    International Nuclear Information System (INIS)

    Shepherd, E.W.; Reese, R.T.

    1983-01-01

    A framework for relating the variables involved in the public perception of hazardous materials transportation is presented in which perceived risk was described in six basic terms: technical feasibility, political palatability, social responsibility, benefit assessment, media interpretation, and familiarity as a function of time. Scientists, the media and public officials contribute to the discussion of risks but ultimately people will decide for themselves how they feel and what they think. It is not sufficient to consider the public of not being enlightened enough to participate in the formulation of radioactive material transport policy. The framework provides the technologist with an initial formulation to better inform the public and to understand public perception

  3. 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.

  4. 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.

  5. Risk assessment of hazardous waste transport - perspectives of GIS application

    International Nuclear Information System (INIS)

    Lazar, R.E.; Dumitrescu, M.; Stefanescu, I.

    2001-01-01

    Due to the increasing public awareness of the potential risks associated with waste transport, the environmental impact assessment of this activity has become an issue of major importance. This paper presents a project proposal, which can establish a national action plan for waste transport evaluation. Such a programme is sustained by the necessity to obtain an adequate method for the rapid and efficient estimation of individual and social risks due to the transport of hazardous substances in Romania. The main objective is to develop regional strategies for risk assessment in comprising: establishing the areas that must be investigated and their particular characteristics; identifying the transport activities in the areas; determining hazards; establishing the analysis criteria and prioritizing the study areas; evaluating continuous emissions; studying major accidents; studying population health; classifying the risks; establishing regional strategies; implementing political and regulatory measures. The project expectation is to provide a decision tool for risk managers and authorities in order to control or limit transportation and the storage of hazardous substances.(author)

  6. 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.

  7. Public transport risk assessment through fault tree analysis

    Directory of Open Access Journals (Sweden)

    Z. Yaghoubpour

    2016-04-01

    Full Text Available This study focused on the public transport risk assessment in District one of ​​Tehran through Fault Tree Analysis involving the three criteria of human, vehicle and road in Haddon matrix. In fact, it examined the factors contributing to the occurrence of road accidents at several urban black spots within District 1. Relying on road safety checklists and survey of experts, this study made an effort to help urban managers to assess the risks in the public transport and prevent road accidents. Finally, the risk identification and assessment of public transport in District one yielded several results to answer the research questions. The hypotheses analysis suggested that safety issues involved in public transport are concerned by urban managers. The key reactive measures are investigation of accidents, identification of causes and correction of black spots. In addition to high costs, however, the reactive measures give rise to multiple operational problems such as traffic navigation and guaranteeing user safety in every operation. The case study highlighted the same fact. The macro-level management in the metropolis of Tehran is critical. The urban road casualties and losses can be curtailed by preventive measures such as continuous assessment of road safety.

  8. RISKS IN INVESTMENT AND MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Ms. Tatiana A. Ykovleva

    2016-12-01

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

  9. Risk analysis in transport and logistics

    Directory of Open Access Journals (Sweden)

    Ene Andreea Bianca

    2017-12-01

    Full Text Available Globalization and production concentration have led to more efficient supply chain networks, which has led to the emergence of different types of risks. Although most companies have implemented special risk management programs, there may be events that can not be controlled by businesses, and unwanted consequences are not delayed.

  10. 75 FR 51392 - Federal Management Regulation; Transportation Management

    Science.gov (United States)

    2010-08-20

    ...; Docket Number 2010-0011, sequence 1] RIN 3090-AJ03 Federal Management Regulation; Transportation Management AGENCY: Office of Governmentwide Policy, General Services Administration (GSA). ACTION: Final rule. SUMMARY: The General Services Administration (GSA) is amending the Federal Management Regulation (FMR) by...

  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. Disruption Management in Passenger Railway Transportation

    DEFF Research Database (Denmark)

    Groth, Julie Jespersen; Potthoff, Daniel; Clausen, Jens

    2009-01-01

    This paper deals with disruption management in passenger railway transportation. In the disruption management process, many actors belonging to different organizations play a role. In this paper we therefore describe the process itself and the roles of the different actors. Furthermore, we discuss...

  13. 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 ...

  14. 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.

  15. The Theme of Risk Management

    Directory of Open Access Journals (Sweden)

    Chua, D. K. H.

    2014-07-01

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

  16. Tailoring Risk Management in Design

    DEFF Research Database (Denmark)

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

    2018-01-01

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

  17. 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 ...

  18. Potential transportation demand management programs and measures

    Energy Technology Data Exchange (ETDEWEB)

    Litman, T. [Victoria Transport Policy Institute, Victoria, BC (Canada)

    1997-02-07

    The advantages of transportation demand management (TDM) programs were discussed. TDM includes several policies, programs and measures designed to change travel patterns. TDM programs include commute trip reductions, pricing policies, land use management strategies, and programs to support alternative modes of transportation such as public transit, carpooling, bicycling, walking and telecommuting. TDM programs are designed to reduce traffic congestion and air pollution. Some other TDM programs and measures include: enabling programs, alternative mode encouragement, driving disincentives, parking programs, marginalizing user costs, reducing automobile ownership, and land use management.

  19. Managing Multiple Risk Factors

    National Research Council Canada - National Science Library

    Lollis, Charlie

    1998-01-01

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

  20. Transportation and General Traffic Management, Change 2

    Science.gov (United States)

    1979-01-01

    This Handbook sets forth those transportation and general traffic management responsibilities, guidelines, and procedures governing the use of commercial and Government transportation for NASA. Transportation is an integral function of the logistic process, involving all activities incident to the movement of persons and things. The fundamental and continuous objectives of transportation are to control and diminish the time-distance of lines of communication by the most suitable means. The function of transportation is accomplished through, and encompasses all, the planning, direction, supervision, and execution of the technical, operational, and administrative tasks required to procure or furnish efficient and economical conveyance of cargo and personnel by all modes of commercial and Government transportation. This Handbook is applicable to NASA Headquarters and Field Installations.

  1. 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...

  2. 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

  3. How to manage risk better

    CSIR Research Space (South Africa)

    Walwyn, DR

    2002-09-01

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

  4. 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...

  5. Risk assessment and risk management of mycotoxins.

    Science.gov (United States)

    2012-01-01

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

  6. Road safety issues for bus transport management.

    Science.gov (United States)

    Cafiso, Salvatore; Di Graziano, Alessandro; Pappalardo, Giuseppina

    2013-11-01

    Because of the low percentage of crashes involving buses and the assumption that public transport improves road safety by reducing vehicular traffic, public interest in bus safety is not as great as that in the safety of other types of vehicles. It is possible that less attention is paid to the significance of crashes involving buses because the safety level of bus systems is considered to be adequate. The purpose of this study was to evaluate the knowledge and perceptions of bus managers with respect to safety issues and the potential effectiveness of various technologies in achieving higher safety standards. Bus managers were asked to give their opinions on safety issues related to drivers (training, skills, performance evaluation and behaviour), vehicles (maintenance and advanced devices) and roads (road and traffic safety issues) in response to a research survey. Kendall's algorithm was used to evaluate the level of concordance. The results showed that the majority of the proposed items were considered to have great potential for improving bus safety. The data indicated that in the experience of the participants, passenger unloading and pedestrians crossing near bus stops are the most dangerous actions with respect to vulnerable users. The final results of the investigation showed that start inhibition, automatic door opening, and the materials and internal architecture of buses were considered the items most strongly related to bus passenger safety. Brake assistance and vehicle monitoring systems were also considered to be very effective. With the exception of driver assistance systems for passenger and pedestrian safety, the perceptions of the importance of other driver assistance systems for vehicle monitoring and bus safety were not unanimous among the bus company managers who participated in this survey. The study results showed that the introduction of new technologies is perceived as an important factor in improving bus safety, but a better understanding

  7. RADTRAN3, Risk of Radioactive Material Transport

    International Nuclear Information System (INIS)

    Madsen, M.M.; Taylor, J.M.; Ostmeyer, R.M.; Reardon, P.C.

    2001-01-01

    1 - Description of program or function: RADTRAN3 is a flexible analytical tool for calculating both the incident-free and accident impacts of transporting radioactive materials. The consequences from incident-free shipments are apportioned among eight population sub- groups and can be calculated for several transport modes. The radiological accident risk (probability times consequence summed over all postulated accidents) is calculated in terms of early fatalities, early morbidities, latent cancer fatalities, genetic effects, and economic impacts. Ground-shine, ingestion, inhalation, direct exposure, resuspension, and cloud-shine dose pathways are modeled to calculate the radiological health risks from accidents. Economic impacts are evaluated based on costs for emergency response, cleanup, evacuation, income loss, and land use. RADTRAN3 can be applied to specific scenario evaluations (individual transport modes or specified combinations), to compare alternative modes or to evaluate generic radioactive material shipments. Unit-risk factors can easily be evaluated to aid in performing generic analyses when several options must be compared with the amount of travel as the only variable. RADTRAN4 offers advances in the handling of route-related data and in the treatment of multiple-isotope materials. 2 - Method of solution: There are several modes used in the transporting of radioactive material such as trucks, passenger vans, passenger airplanes, rail and others. With these modes of transport come several shipment scenarios. The RADTRAN4 methodology uses material, transportation, population distribution, and health effects models to treat the incident-free case. To handle the vehicle accident impacts, accident severity and package release, meteorological dispersion, and economic models are also employed. 3 - Restrictions on the complexity of the problem: There are no apparent limitations due to programming dimensions

  8. 41 CFR 102-117.5 - What is transportation management?

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false What is transportation management? 102-117.5 Section 102-117.5 Public Contracts and Property Management Federal Property Management... General § 102-117.5 What is transportation management? Transportation management is agency oversight of...

  9. 76 FR 45724 - Clearing Member Risk Management

    Science.gov (United States)

    2011-08-01

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

  10. 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

  11. 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...

  12. 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.

  13. Management of transport and handling contracts

    CERN Document Server

    Rühl, I

    2004-01-01

    This paper shall outline the content, application and management strategies for the various contracts related to transport and handling activities. In total, the two sections Logistics and Handling Maintenance are in charge of 27 (!) contracts ranging from small supply contracts to big industrial support contracts. The activities as well as the contracts can generally be divided into four main topics "Vehicle Fleet Management"; "Supply, Installation and Commissioning of Lifting and Hoisting Equipment"; "Equipment Maintenance" and "Industrial Support for Transport and Handling". Each activity and contract requires different approaches and permanent adaptation to the often changing CERN's requirements. In particular, the management and the difficulties experienced with the contracts E072 "Maintenance of lifting and hoisting equipment", F420 "Supply of seven overhead traveling cranes for LHC" and S090/S103 "Industrial support for transport and handling" will be explained in detail.

  14. Managing Supplier Sustainability Risk

    OpenAIRE

    Harilainen, Hanna-Riitta

    2014-01-01

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

  15. Energy price risk management

    International Nuclear Information System (INIS)

    Evans, J.W.G.

    1998-01-01

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

  16. 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.

  17. Guide to calculating transportation demand management benefits

    Energy Technology Data Exchange (ETDEWEB)

    Litman, T. [Victoria Transport Policy Institute, Victoria, BC (Canada)

    1997-02-14

    The full benefits of transportation demand management (TDM) programs were discussed. TDM includes several policies, programs and measures designed to change travel patterns. TDM programs include commute trip reductions, pricing policies, land use management strategies, and programs to support alternative modes of transportation such as public transit, carpooling, bicycling, walking and telecommuting. In addition to reduction in traffic congestion and reduction in air pollution, other impacts of TDM programs were also evaluated. The value of these impacts based on external cost savings was estimated. A list of documents, software and organizations which could be helpful for TDM planning and evaluation was provided. 34 refs., 14 tabs., 1 fig.

  18. Risk management for noncombustion wastes

    International Nuclear Information System (INIS)

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

    1991-01-01

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

  19. 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...

  20. Managing nuclear supplier risks

    International Nuclear Information System (INIS)

    Ramberg, B.

    1990-01-01

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

  1. Risk management through concurrency

    International Nuclear Information System (INIS)

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

    1991-01-01

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

  2. Impact of timber production and transport costs on stand management

    Science.gov (United States)

    Chris B. LeDoux; Chris B. LeDoux

    1988-01-01

    Evaluates the impact of cable logging technology, transportation network standards, and transport vehicles on stand management. Managers can use results to understand the impact of timber production costs on eastern hardwood management.

  3. Automated Transportation Management System (ATMS) Configuration Management Plan. Revision 1

    International Nuclear Information System (INIS)

    Weidert, R.S.

    1994-01-01

    This document describes the Software Configuration Management (SCM) approach and procedures to be utilized in developing and maintaining the Automated Transportation Management System (ATMS). The configuration management procedures are necessary to ensure that any changes made to software and related documentation are consistent with ATMS goals and contained securely in a central library. This plan applies to all software and associated documentation used in producing ATMS V1.0 and ATMS V2.0 system

  4. Surface transportation security : TSA has taken actions to manage risk, improve coordination, and measure performance, but additional actions would enhance its efforts, April 21, 2010.

    Science.gov (United States)

    2010-04-21

    Terrorist attacks on surface transportation facilities in Moscow, Mumbai, London, and Madrid caused casualties and highlighted the vulnerability of such systems. The Transportation Security Administration (TSA), within the Department of Homeland Secu...

  5. Managing economic risks through simulation

    International Nuclear Information System (INIS)

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

    1994-01-01

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

  6. 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.

  7. 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.

  8. Management of the process of nuclear transport

    International Nuclear Information System (INIS)

    Requejo, P.

    2015-01-01

    Since 1996 ETSA is the only Spanish logistics operator specialized on servicing the nuclear and radioactive industry. Nowadays ETSA has some technological systems specifically designed for the management of nuclear transports. These tools have been the result of the analysis of multiple factors involved in nuclear shipments, of ETSAs wide experience as a logistics operator and the search for continuous improvement. (Author)

  9. Supply Chain Risk Management

    OpenAIRE

    Babková, Ivana

    2008-01-01

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

  10. Risk management for industrial safety

    International Nuclear Information System (INIS)

    Novogno, A.

    1989-01-01

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

  11. 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...

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

    Science.gov (United States)

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

    2016-02-15

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

  13. A view on risk management

    International Nuclear Information System (INIS)

    Joksimovich, V.

    1991-01-01

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

  14. 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.

  15. 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

  16. RISK MANAGEMENT USING PROJECT RECON

    Science.gov (United States)

    2016-11-28

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

  17. 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...

  18. PROJECT MANAGER SKILLS, RISK MANAGEMENT TOOLS

    Directory of Open Access Journals (Sweden)

    Vladut Iacob

    2013-12-01

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

  19. Perceived risks of radioactive waste transport through Oregon: Results of a statewide survey

    International Nuclear Information System (INIS)

    MacGregor, D.; Slovic, P.; Mason, R.G.; Detweiler, J.; Binney, S.E.; Dodd, B.

    1994-01-01

    Transportation of hazardous materials, and particularly radioactive wastes, on public highways has become an important risk management issue. The unfavorability of public attitudes regarding hazardous and nuclear waste signals the potential for strong public opposition to programs for transporting these materials. This paper presents the results of a survey conducted to assess public reactions to a long-term nuclear waste transport program planned to follow a route through a portion of rural Oregon. The survey assessed a number of key risk perception issues, including perceived health and safety risks of nuclear waste transport, relative risks of transport vs. storage at an existing site, trust in state officials, and satisfaction with life in communities along the transport route. The survey identified a number of attitudes and concerns that need to be understood and considered by those in charge of designing and implementing the waste-transportation program. 22 refs., 1 fig., 5 tabs

  20. Risk assessment for construction projects of transport infrastructure objects

    Science.gov (United States)

    Titarenko, Boris

    2017-10-01

    The paper analyzes and compares different methods of risk assessment for construction projects of transport objects. The management of such type of projects demands application of special probabilistic methods due to large level of uncertainty of their implementation. Risk management in the projects requires the use of probabilistic and statistical methods. The aim of the work is to develop a methodology for using traditional methods in combination with robust methods that allow obtaining reliable risk assessments in projects. The robust approach is based on the principle of maximum likelihood and in assessing the risk allows the researcher to obtain reliable results in situations of great uncertainty. The application of robust procedures allows to carry out a quantitative assessment of the main risk indicators of projects when solving the tasks of managing innovation-investment projects. Calculation of damage from the onset of a risky event is possible by any competent specialist. And an assessment of the probability of occurrence of a risky event requires the involvement of special probabilistic methods based on the proposed robust approaches. Practice shows the effectiveness and reliability of results. The methodology developed in the article can be used to create information technologies and their application in automated control systems for complex projects.

  1. Gambling in Latin: incorporating uncertainty in risk management

    Energy Technology Data Exchange (ETDEWEB)

    Gratt, L.B.; Levin, L. (IWG Corporation, San Diego, CA (United States))

    1994-08-01

    Risk assessment uses assumptions based on differing degrees of conservatism. This complicates the understanding of the uncertainty in the final risk estimate. Uncertainties arise from each component of the risk assessment process: source terms, atmospheric transport, exposure, and dose response. Probabilistic modeling using Monte Carlo and Latin Square sampling techniques (reference to Gambling in Latin) allows for an improved approach to risk assessment and management. 16 refs., 1 fig., 1 tab.

  2. 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

  3. Reducing the risk, managing safety.

    Science.gov (United States)

    Aldridge, Peter

    2016-02-01

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

  4. 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 ...

  5. Risk Management of NASA Projects

    Science.gov (United States)

    Sarper, Hueseyin

    1997-01-01

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

  6. 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

  7. 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.

  8. 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”.

  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. STRATEGIC MANAGEMENT OF TRANSPORT CARGO COMPLEX

    Directory of Open Access Journals (Sweden)

    A. M. Okorokov

    2014-06-01

    Full Text Available Purpose. Making the qualitative administrative decisions defining strategy and tactics of transport cargo complexes development, and also its subsystems, is possible only in the presence of flexible optimization model. This model has to consider multiparametricity and multicriteriality of the given task, uncertainty and vagueness of input information, and also to provide process automation of searching the best parameters of the given production facility. The purpose of the research is to develop procedures for the strategic management of complex with view of the most important factors and their stochastic nature, which will execute the improvement of technical equipment of TCC. Methodology. The problem of strategic management is based on solving the complex of issues of the optimal number of shunting locomotives, optimal processing capability of handling the front and rational capacity of warehouses. The problem is solved on the basis of the proposed optimality criterion – the specific set of profit per unit of capital assets of freight industry. The listed problems are solved using simulation modeling of the freight industry. Findings. The use of developed procedure allows one to improve the technical equipment of the freight stations and complexes. Originality. For the first time it was developed the procedure of strategic management of development. This procedure allows taking into account the probabilistic nature of demand for services of transport freight complexes and technological processes of client services on the complex stations. The proposed procedure can be applied during when planning the investments in the creation of transport freight complexes. Practical value. Use as a basic tool of simulation models of complex cargo operation allows estimating the effectiveness of the capital investments, the level of operating costs, as well as the quality of meeting the demands of potential customers in transportations at the stage of

  11. Disruption Management in Passenger Railway Transportation

    DEFF Research Database (Denmark)

    Jespersen-Groth, Julie; Potthoff, Daniel; Clausen, Jens

    This paper deals with disruption management in passenger railway transportation. In the disruption management process, many actors belonging to different organizations play a role. In this paper we therefore describe the process itself and the roles of the different actors. Furthermore, we discuss...... the three main subproblems in railway disruption management: timetable adjustment, and rolling stock and crew re-scheduling. Next to a general description of these problems, we give an overview of the existing literature and we present some details of the specific situations at DSB S-tog and NS....... These are the railway operators in the suburban area of Copenhagen, Denmark, and on the main railway lines in the Netherlands, respectively. Since not much research has been carried out yet on Operations Research models for disruption management in the railway context, models and techniques that have been developed...

  12. 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...

  13. Intellectual Capital Management in Transport Sector

    Directory of Open Access Journals (Sweden)

    Asta Znakovaitė

    2011-03-01

    Full Text Available This article presents an analysis of intellectual capital; its management, features and processes by which intellectual capital of a company can be evaluated. The main elements of intellectual capital (human, structural and relationship capital are presented and used in research. After surveying bibliography, intellectual capital evaluation model, which applies to Lithuanian and Latvian companies operating in the transport sector, is created. The research is based on the value-added intellectual capital factor model, the relationship between indicators, multi-asset return correlation and regression analysis and generation of alternatives to intellectual capital performance-enhancing. Following an assessment of intellectual capital of Lithuanian and Latvian transport sectors, on the basis of the results, it was found that the intellectual capital is a key factor in corporation management to increase revenue. Article in Lithuanian

  14. Burbank Transportation Management Organization: Impact Analysis

    Energy Technology Data Exchange (ETDEWEB)

    Brown, E.; Aabakken, J.

    2006-11-01

    The Burbank Transportation Management Organization (BTMO), a private, membership-based, nonprofit organization dedicated to traffic reduction and air quality improvement, contracted with the National Renewable Energy Laboratory (NREL), a U.S. Department of Energy-owned, contractor-operated national laboratory, to analyze its member programs and their benefits and effects. This report uses trip data collected by the BTMO, and defines and implements a methodology for quantifying non-traffic benefits such as gasoline savings, productivity, and pollution reduction.

  15. Transportation asset management : a vehicle for mainstreaming ITS?

    Science.gov (United States)

    2001-06-01

    This paper examines the use of transportation asset management (TAM) as a mechanism for mainstreaming" intelligent transportation systems (ITS) into the transportation decision-making process. TAM is an emerging set of tools and techniques that compr...

  16. 42 CFR 441.476 - Risk management.

    Science.gov (United States)

    2010-10-01

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

  17. Hazardous materials routing - risk management of mismanagement

    International Nuclear Information System (INIS)

    Glickman, T.S.

    1988-01-01

    Along with emergency planning and preparedness, the placement of restrictions on routing has become an increasingly popular device for managing the highway and rail risks of hazardous materials transportation. Federal studies conducted in 1985 indicate that at that time there were 513 different state and local restrictions on the routing of hazardous materials for these two modes of transportation, and that there were 136 state and local notification requirements, that is, restrictions that take the form of a statute or ordinance requiring advance warning or periodic reporting about hazardous materials shipments. Routing restrictions also take the form of prohibiting the use of road, a tunnel, or a bridge for a specified set of hazardous materials

  18. Probabilistic risk assessment as an aid to risk management

    International Nuclear Information System (INIS)

    Garrick, B.J.

    1982-01-01

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

  19. Considerations on Integrating Risk and Quality Management

    Directory of Open Access Journals (Sweden)

    Maria POPESCU

    2011-03-01

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

  20. Developing intelligent transportation systems using the national ITS architecture: an executive edition for senior transportation managers

    Science.gov (United States)

    1998-02-01

    This document has been produced to provide senior transportation managers of state and local departments of transportation with practical guidance for deploying Intelligent Transportation Systems (ITS) consistent with the National ITS Architecture. T...

  1. Managing risks and hazardous in industrial operations

    Energy Technology Data Exchange (ETDEWEB)

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

    1996-12-31

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

  2. 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

  3. Managing IT Integration Risk in Acquisitions

    DEFF Research Database (Denmark)

    Henningsson, Stefan; Kettinger, William J.

    2016-01-01

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

  4. 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...

  5. Metropolitan transportation management center concepts of operation : a cross-cutting study : improving transportation network efficiency

    Science.gov (United States)

    1999-10-01

    The implementor and operator of a regional transportation management center (TMC) face a challenging task. Operators of TMCsthe primary point of coordination for managing transportation resourcestypically control millions of dollars of intellig...

  6. 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

  7. 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

  8. A Survey on Transport Management Practices Associated with Injuries and Health Problems in Horses.

    Science.gov (United States)

    Padalino, Barbara; Raidal, Sharanne L; Hall, Evelyn; Knight, Peter; Celi, Pietro; Jeffcott, Leo; Muscatello, Gary

    2016-01-01

    An online survey was conducted to determine associations between transport management and transport-related injuries and diseases in horses in Australia. The survey was composed of three sections: respondents' demographic information, transport management strategies or procedures (before, during and after transportation) and transport diseases experienced in the previous two year period. Univariate and multivariate modelling was performed exploring associations between variables (respondents' details and transport management strategies) and the following transport-related diseases as outcomes: traumatic injuries, diarrhoea, heat stroke, muscular problems, laminitis, transport pneumonia and colic. The survey generated 797 responses. Traumatic injuries were the most common transport-related problem, with a reported incidence of 45.0%. Younger respondents (30 in a week) were more likely to report transport-related injuries. Injury risk was also linked to the use of protections and tranquilizers prior to transport, and checking horses after the journey. Diarrhoea (20.0%) and heat stroke (10.5%) were reported more by amateur than professional horse carers. Increased risk of heat stroke was linked to the restriction of hay and water prior to transportation. Muscular problems (13.0%) appeared to be exacerbated when horse health was not assessed before journey; whilst the risk of laminitis (2.9%) was around three fold greater when post transport recovery strategies were not applied. Associations were made between transport pneumonia (9.2%) and duration of journey, and with activity (horses involved in racing at greater risk). No associations were seen between the incidence of colic (10.3%) and the variables examined. Study findings should be interpreted with caution as they represent participant perceptions and recall. Nevertheless, results support many current recommendations for safe transportation of horses. They also highlight the need to further investigate many of

  9. 31 CFR 337.2 - Transportation charges and risks.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Transportation charges and risks. 337... FEDERAL HOUSING ADMINISTRATION DEBENTURES Certificated Debentures § 337.2 Transportation charges and risks... to book-entry form, must be delivered at the expense and risk of the holder. Debentures bearing...

  10. The contribution of transport to the overall risk of nuclear energy

    International Nuclear Information System (INIS)

    Huebenthal, K.

    1985-01-01

    The overall risk of nuclear energy is minute as compared with other natural and civilization-effected risks. The contribution of the transport of radioactive materials to this overall risk is not significant. The paper touches the following subjects: Project Safety Studies of Waste Management (PSE), System Studies Alternative Waste Disposal Technologies (PAE), Motor Columbus and the Federal Gazette 10/2160 of October 1984. Collective doses of the population are given for the fuel cycle with various waste management technologies. (DG) [de

  11. Value at Risk models for Energy Risk Management

    OpenAIRE

    Novák, Martin

    2010-01-01

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

  12. 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

  13. 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

  14. Operational Risk Management and Military Aviation Safety

    National Research Council Canada - National Science Library

    Ashley, Park

    1999-01-01

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

  15. Intelligent Transport Systems in the Management of Road Transportation

    Science.gov (United States)

    Kalupová, Blanka; Hlavoň, Ivan

    2016-11-01

    Extension of European Union causes increase of free transfer of people and goods. At the same time they raised the problems associated with the transport, e.g. congestion and related accidents on roads, air traffic delays and more. To increase the efficiency and safety of transport, the European Commission supports the introduction of intelligent transport systems and services in all transport sectors. Implementation of intelligent transport systems and services in the road transport reduces accident frequency, increases the capacity of existing infrastructure and reduces congestions. Use of toll systems provides resources needed for the construction and operation of a new road network, improves public transport, cycling transport and walking transport, and also their multimodal integration with individual car transport.

  16. An integrated risk communication system for the transport of hazardous materials

    International Nuclear Information System (INIS)

    Minor, J.W. IV; Abkowitz, M.D.

    2004-01-01

    This paper describes the development and implementation of the prototype of an an internet-based, risk communication system prototype for the transport of hazardous materials. The system was designed with the objectives of: (1) incorporating functionality and features that are useful for meeting a variety of risk communication needs, and (2) demonstrating a high degree of interaction among system components, enabling customisation to meet the specific transport risk communication needs requirements of the host organisation. To demonstrate 'proof of concept', the system is applied to two scenarios: 1) building knowledge and awareness, focusing on how information can be entered, organised and disseminated to the public and other transport stakeholders, and 2) emergency management, utilising the system for securely managing information in responding to a transport incident involving hazardous materials transport incident. The effectiveness of the system in these applications is subsequently discussed. (author)

  17. THEORETICAL BASIS FOR MANAGEMENT OF PERSONNEL RISKS

    OpenAIRE

    Haliashova, Katsiaryna

    2017-01-01

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

  18. 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...

  19. 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.

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

    Directory of Open Access Journals (Sweden)

    Kyungmo Park

    2017-02-01

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

  1. 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...

  2. 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.

  3. Managing risk with renewable resources

    International Nuclear Information System (INIS)

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

    1997-01-01

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

  4. Managing risks: Seveso and Harrisburg

    International Nuclear Information System (INIS)

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

    1980-01-01

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

  5. Quantification of risks at the transport of radioactive materials

    International Nuclear Information System (INIS)

    Hienen, J.F.A.; Jansma, R.

    1992-07-01

    Requirement of the risks which are coherent with the transport of hazardous elements are for the time being drawn up in a joint project by the Netherlands Ministries of SZW and VROM. In this project 'Requirements of risk for the transport of hazardous elements' (RNVGS) the transport of radioactive elements is not considered. To reach requirements for such a transport, the Directorate of Elements, Safety and Radiation of VROM has provided an assignment to ECN to make a quantitative analysis on the risks of transport of radioactive elements on the road. At the same time, they requested to examine in this performance study whether there are needed additional criteria specific for transport, along the criteria used for individual risk and group-risks. 55 refs., 1 fig., 16 refs

  6. Managing project risks and uncertainties

    Directory of Open Access Journals (Sweden)

    Mike Mentis

    2015-01-01

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

  7. Enterprise Content Management Implementation and Risk

    Directory of Open Access Journals (Sweden)

    Jaroslava Klegová

    2015-01-01

    Full Text Available Enterprise Content Management (ECM solutions are commonly used in many areas such as document management, record management, digital asset management, etc. Key features of ECM systems are capturing, indexing, preserving and retrieving of digital information. The state-of-the- art ECM solution can help revolutionize document management and further automated business processes which can lead to better decisions and competitive advantage. Risk management can reduce project failure and that is why controlling risk in ECM implementation projects is considered to be a major contributor to project success. To manage software risk, the first step is to identify a list of ECM projects’ risks. The present paper provides an overview of ECM implementation risks and contains findings from a small survey on experience of ECM implementation and risk in Czech enterprises. Risk of implementation in the public sector is discussed more deeply with case study examples.

  8. Risk management and energy systems

    International Nuclear Information System (INIS)

    Carlevaro, F.; Romerio, F.

    1992-01-01

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

  9. 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.

  10. 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.

  11. United States Department of Energy Automated Transportation Management System

    International Nuclear Information System (INIS)

    Portsmouth, J.H.

    1992-01-01

    At the US Department of Energy (DOE) 80 transportation facilities, each contractor's transportation management operation has different internal and site specific procedures, and reports to a DOE regional Field Office Traffic Manager (FOTM). The DOE Transportation Management Program (TMP) has the responsibility to manage a transportation program for safe, efficient, and economical transportation of DOE-owned materials. The TMP develops and administers transportation/traffic operations management policies and programs for materials; including radioactive materials, other hazardous materials, hazardous substances, and hazardous wastes, pursuant to applicable federal regulations, such as the Code of Federal Register, Sections 40 and 49. Transportation management has become an increasingly critical primarily because of transportation issues regarding the shipment of radioactive materials and hazardous wastes that are frequently the focus of public concerns. A large shipments and requiring millions of business transactions necessitates the establishment of automated systems, programs, procedures, and controls to ensure that the transportation management process in being handled in a safe, efficient, and economical manner. As the mission of many DOE facilities changes from production of special nuclear materials for defense purposes to environmental restoration and waste management, the role of transportation management will become even more important to the safe and efficient movement of waste materials to prescribed locations. In support of this role, the Automated Transportation Management System (ATMS) was conceived to assist the DOE and its contractors in the performance of their day-to-day transportation management activities. The ATMS utilizes the latest in technology and will supply state-of-the-art automated transportation management for current and future DOE transportation requirements

  12. Commercializing fuel cells: managing risks

    Science.gov (United States)

    Bos, Peter B.

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

  13. Managing Risks in Dry Port Operations

    OpenAIRE

    Ciortescu Cezar-Gabriel; Pãvãla?cu Narcis Sebastian

    2012-01-01

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

  14. 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...

  15. 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

  16. Credit Risk Evaluation : Modeling - Analysis - Management

    OpenAIRE

    Wehrspohn, Uwe

    2002-01-01

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

  17. 23 CFR 450.320 - Congestion management process in transportation management areas.

    Science.gov (United States)

    2010-04-01

    ... 23 Highways 1 2010-04-01 2010-04-01 false Congestion management process in transportation... Programming § 450.320 Congestion management process in transportation management areas. (a) The transportation planning process in a TMA shall address congestion management through a process that provides for safe and...

  18. Wireless Battery Management System of Electric Transport

    Science.gov (United States)

    Rahman, Ataur; Rahman, Mizanur; Rashid, Mahbubur

    2017-11-01

    Electric vehicles (EVs) are being developed and considered as the future transportation to reduce emission of toxic gas, cost and weight. The battery pack is one of the main crucial parts of the electric vehicle. The power optimization of the battery pack has been maintained by developing a two phase evaporative thermal management system which operation has been controlled by using a wireless battery management system. A large number of individual cells in a battery pack have many wire terminations that are liable for safety failure. To reduce the wiring problem, a wireless battery management system based on ZigBee communication protocol and point-to-point wireless topology has been presented. Microcontrollers and wireless modules are employed to process the information from several sensors (voltage, temperature and SOC) and transmit to the display devices respectively. The WBMS multistage charge balancing system offering more effective and efficient responses for several numbers of series connected battery cells. The concept of double tier switched capacitor converter and resonant switched capacitor converter is used for reducing the charge balancing time of the cells. The balancing result for 2 cells and 16 cells are improved by 15.12% and 25.3% respectively. The balancing results are poised to become better when the battery cells are increased.

  19. Evaluation of risk management status for Croatian logistic operators

    Directory of Open Access Journals (Sweden)

    Diana BOŽIĆ

    2010-01-01

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

  20. 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.

  1. [The relevance of clinical risk management].

    Science.gov (United States)

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

    2011-01-01

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

  2. The risk assesment in storage and transportation of dangerous substances - preoccupations and perspectives

    International Nuclear Information System (INIS)

    Lazar, Roxana Elena; Dumitrescu, Maria; Stefanescu, Ioan

    2001-01-01

    The paper presents a risk assessment model for dangerous substance storage and transportation. It will combine also qualitative and quantitative evaluation methods, the results being referred to the lethal risk at individual and social level. The model includes the main tasks to classify the risks and to achieve a scale of priorities. To achieve a proper analysis of a regional risk the following steps should be observed: a list of dangerous substances; the classification of storage and transportation activities in the area; the selection of those activities that can be included in the study; establishing the category of effects ; the estimation of consequences to the environment and people; the calculation of major accidents frequency; the risk level classification. Generally, in the global risk assessment in industrial sector one neglects the risk induced by the transport of dangerous substances. Because of that the decision process in the risk management field can be seriously affected and the initiatives to reduce the risk and to decrease the consequences of potential accidents can be reduced, too. The model will be applied to evaluate the risk due major accidents occurring in the storage of dangerous substances and their transportation on roads, railway or by pipes. It represents a prime action plan at national level to evaluate and analyze the transportation risk. (authors)

  3. Risk of transporting spent nuclear fuel by train

    International Nuclear Information System (INIS)

    Elder, H.K.

    1981-12-01

    This paper presents results of a study which analyzes the risk of transporting spent fuel by train. The risk assessment methodology consists of 4 basic steps: (1) a description of the system being analyzed; (2) identification of sequences of events that could lead to a release of material during transportation; (3) evaluation of the probability and consequences of each release sequence; and (4) assessment of the risk and evaluation of the results. The conclusion reached was that considering the substantial benefits derived from the fuel, the current spent fuel transportation system poses reasonably low risks

  4. Contradictions Between Risk Management and Sustainable Development

    Energy Technology Data Exchange (ETDEWEB)

    Olsen, Odd Einar; Langhelle, Oluf; Engen, Ole A. [Univ. of Stavanger (Norway). Dept. of Media, Culture and Social Science

    2006-09-15

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

  5. Contradictions Between Risk Management and Sustainable Development

    International Nuclear Information System (INIS)

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

    2006-01-01

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

  6. Risk management with options and futures under liquidity risk

    OpenAIRE

    Adam-Müller, A F A; Panaretou, A

    2009-01-01

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

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

    DEFF Research Database (Denmark)

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

    2018-01-01

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

  8. Traffic Management for Next Generation Transport Networks

    DEFF Research Database (Denmark)

    Yu, Hao

    required by the next generation transport network to provide Quality-of-Service (QoS) guaranteed video services. Augmenting network capacity and upgrading network nodes indicate long deployment period, replacement of equipment and thus significant cost to the network service providers. This challenge may...... slacken the steps of some network operators towards providing IPTV services. In this dissertation, the topology-based hierarchical scheduling scheme is proposed to tackle the problem addressed. The scheme simplifies the deployment process by placing an intelligent switch with centralized traffic...... management functions at the edge of the network, scheduling traffic on behalf of the other nodes. The topology-based hierarchical scheduling scheme is able to provide outstanding flow isolation due to its centralized scheduling ability, which is essential for providing IPTV services. In order to reduce...

  9. 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

  10. 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…

  11. 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.

  12. 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

  13. 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

  14. 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

  15. Radiation risk assessment for the transport of radioisotopes using KRI-BGM B(U) type container

    International Nuclear Information System (INIS)

    Cho, Woon-Kap

    2008-01-01

    The radiation risks were estimated for the transportation of radioisotopes using KRI-BGM transport container. KRI-BGM container was specially designed for transportation of large amount of radioisotopes for industrial or medical applications. The container can carry maximum 370 TBq of solid Ir-192, 29.6 TBq of liquid Mo-99 and 37 TBq of liquid I-131 respectively. For the radiation risk assessment, it was assumed that maximum design activity of those radioisotopes was transported. Transportation route is from Daejeon where radioisotopes are produced to Seoul where radioisotopes are consumed. Transport distance is 200 km including highway and downtown area from Daejeon to Seoul. As the transportation conveyance, an ordinary cargo truck is used exclusively. Radiation risks were estimated for incident free and accident condition of transportation and RADTRAN 5.6 was used as the risk assessment tool. For the risk assessment of radioisotopes transportation, various parameters such as population density around transport route, weather condition, probability of specific accidents such as impact, fire, etc. were considered. From the results of this study, the exclusive transportation of radioisotopes using KRI-BGM transport container by truck showed low radiological risks with manageable safety and health consequences. This paper discusses the methods and results of the radiation risks assessment for the radioisotopes transportation by an ordinary truck and presents the expected radiation risks in person-Sv and latent cancer fatalities. (author)

  16. Regional risk associated with the transport of hazardous materials

    OpenAIRE

    Nardini, L.; Aparicio, L.; Bandoni, A.; Tonelli, S. M.

    2003-01-01

    An increasing concern over the level of risk associated with hazardous materials transportation has led international efforts to focus on risk assessment at regional level. Following this trend, the aim of this work is to review the latest procedures for analysing the regional risks resulting from hazardous materials transportation by means of road and rail. In particular, two methodologies are reviewed and discussed, a method recently developed at Swiss Federal Institute of Technology [1] an...

  17. Risk factor management: antiatherogenic therapies.

    Science.gov (United States)

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

    2009-08-01

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

  18. 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.

  19. Risk and/or resilience management

    Directory of Open Access Journals (Sweden)

    Jean-Paul Louisot

    2015-06-01

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

  20. 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.

  1. 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...

  2. Hybrid Risk Management Methodology: A Case Study

    Directory of Open Access Journals (Sweden)

    Jacky Siu-Lun Ting

    2009-10-01

    Full Text Available Risk management is a decision-making process involving considerations of political, social, economic and engineering factors with relevant risk assessments relating to a potential hazard. In the last decade, a number of risk management tools are introduced and employed to manage and minimize the uncertainty and threats realization to the organizations. However, the focus of these methodologies are different; in which companies need to adopt various risk management principles to visualize a full picture of the organizational risk level. Regarding to this, this paper presents a new approach of risk management that integrates Hierarchical Holographic Modeling (HHM, Enterprise Risk Management (ERM and Business Recovery Planning (BCP for identifying and assessing risks as well as managing the consequences of realized residual risks. To illustrate the procedures of the proposed methodology, a logistic company ABC Limited is chosen to serve as a case study Through applying HHM and ERM to investigate and assess the risk, ABC Limited can be better evaluated the potential risks and then took the responsive actions (e.g. BCP to handle the risks and crisis in near future.

  3. 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.

  4. 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

  5. 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.

  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. Business managers turn to risk assessment

    International Nuclear Information System (INIS)

    Allen, Frank

    1993-01-01

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

  8. 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...

  9. Transportation System Risk Assessment on DOE Defense Program shipments

    International Nuclear Information System (INIS)

    Brumburgh, G.P.; Kimura, C.Y.; Alesso, H.P.; Prassinos, P.G.

    1992-01-01

    Substantial effort has been expended concerning the level of safety provided to persons, property, and the environment from the hazards associated with transporting radioactive material. This work provided an impetus for the Department of Energy to investigate the use of probabilistic risk assessment techniques to supplement the deterministic approach to transportation safety. The DOE recently decided to incorporate the methodologies associated with PRAs in the process for authorizing the transportation of nuclear components, special assemblies, and radioactive materials affiliated with the DOE Defense Program. Accordingly, the LLNL, sponsored by the DOE/AL, is tasked with developing a safety guide series to provide guidance to preparers performing a transportation system risk assessment

  10. 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.

  11. 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

  12. Road Transport Policy And Traffic Management In Nigeria ...

    African Journals Online (AJOL)

    Road Transport Policy And Traffic Management In Nigeria. ... the attitude of the road driver to traffic engineering, control and management requirement. ... sources of data collection with simple percentage method of analysis and system theory ...

  13. Quality management in the regulation of radioactive material transport

    International Nuclear Information System (INIS)

    Barenghi, Leonardo; Capadona, Nancy M.; Lopez Vietri, Jorge R.; Panzino, Marina; Ceballos, Jorge

    2006-01-01

    The paper describes the quality management procedure used by the Argentine Nuclear Regulatory Authority to establish the regulations concerning the safe transport of radioactive materials. The quality management system is based on the family of the ISO 9000 norms [es

  14. Guidelines for developing transportation management plans in Virginia.

    Science.gov (United States)

    2005-01-01

    A transportation management plan (TMP) is a comprehensive program of traffic control, communication, operation, and demand management strategies designed to maintain acceptable levels of traffic flow in work zones. A systematic procedure and/or check...

  15. THE ANALYSIS OF RISK MANAGEMENT PROCESS WITHIN MANAGEMENT

    Directory of Open Access Journals (Sweden)

    ROMANESCU MARCEL LAURENTIU

    2016-10-01

    Full Text Available This article highlights the risk analysis within management, focusing on how a company could practicaly integrate the risks management in the existing leading process. Subsequently, it is exemplified the way of manage risk effectively, which gives numerous advantages to all firms, including improving their decision-making process. All these lead to the conclusion that the degree of risk specific to companies is very high, but if managers make the best decisions then it can diminish it and all business activitiy and its income are not influenced by factors that could disturb in a negative way .

  16. 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...

  17. 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 ...

  18. 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.

  19. Management Ownership and Risk-Shifting Investment

    OpenAIRE

    Nobuyuki Teshima

    2012-01-01

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

  20. 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

  1. 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.

  2. Social Risk and the Management of MNCs

    DEFF Research Database (Denmark)

    Taarup Esbensen, Jacob

    2015-01-01

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

  3. Risks management in project planning

    OpenAIRE

    Stankevičiūtė, Roberta

    2017-01-01

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

  4. Intermodal Supply Chain Risk Management

    OpenAIRE

    Maslarić, Marinko; Brnjac, Nikolina; Bago, Drago

    2016-01-01

    Efficient and secure global supply chains contribute to the Improvement of the competitiveness of the products traded on international markets by reducing their costs and delivery time while increasing the reliability and security. Global supply chains are unthinkable without transport integration, which is usually accomplished through the form of intermodal transport systems. Intermodal transport systems are much more complex than the unimodal ones due to the number of stakeholders, included...

  5. 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.)

  6. 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)

  7. Urban risks of truck transport of radioactive material

    International Nuclear Information System (INIS)

    Mills, G.S.; Neuhauser, K.S.

    1998-01-01

    Truck transport of radioactive material (RAM), e.g., spent nuclear fuel (SNF), normally maximizes use of Interstate highways, which are safer and more efficient for truck transport in general. In the estimation of transportation risks, population bordering a route is a direct factor in determining consequences and an indirect factor in determining exposure times, accident probabilities and severities, and other parameters. Proposals to transport RAM may draw intense resistance from stakeholders based on concern for population concentrations along urban segments but the length of a route segment is also a determinative factor in estimating the transport risks. To quantify the relative importance of these two factors, a potential route for transport of SNF (strict use of Interstate highways) was selected and compared with a modified version that bypassed urban areas. The RADTRAN 4 code for transportation risk assessment, which was developed at Sandia National Laboratories, was used in the present study to assess the relative risks of SNF transportation for alternative routes. The results suggest that emphasis on Interstate highways minimizes total route and urban segment risks

  8. Risks in U.S. energy material transportation

    International Nuclear Information System (INIS)

    Franklin, A.L.; Rhoads, R.E.; Andrews, W.B.

    1982-01-01

    For the past five years, the Pacific Northwest Laboratory has been conducting a programme to study the safety of transporting energy materials. The overall objectives of the programme are to develop information on the safety of transporting hazardous materials required to support the major energy cycles in the USA. This information was developed for use in making energy policy decisions; in designing and developing new or improved transportation systems for these materials; to help establish research priorities; and as an aid in developing effective transportation safety regulations. Risk analysis was selected as the methodology for performing these studies. This methodology has been applied to rail and highway shipments of nuclear fuel cycle materials and liquid and gaseous fossil fuels. Studies of the risks of transporting spent nuclear fuel by train and uranium ore concentrates (yellow cake) by truck were expected to be issued early in 1981. Analyses of the risks of transporting reactor waste and transuranic wastes are in progress. The work completed to date for nuclear material transportation makes it possible to estimate the transportation risks for the entire fuel cycle in the USA. Results of the assessment are presented in this paper. Because the risk analysis studies for the transportation of gasoline, propane and chlorine have been performed using a methodology, basic assumptions and data that are consistent with the studies that have been performed for nuclear materials, comparisons between the risks for nuclear materials and these materials can also be made. It should be noted that it is not the intention of these comparisons to judge the safety of one industry in comparison with another. These comparisons can, however, provide some insights into the regulatory philosophy for hazardous materials transportation. The remaining sections of the paper briefly review the risk-analysis methodology used in these studies, provide an overview of the systems

  9. 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.

  10. Resource handbook on transport risk assessment (invited paper)

    International Nuclear Information System (INIS)

    Chen, S.Y.; Biwer, B.M.; Monette, F.A.; Luna, R.; Weiner, R.; Yoshimura, R.; Detrick, C.; Dunn, T.; Maheras, S.; Bhatnager, S.; Kapoor, A.K.

    2003-01-01

    The US Department of Energy's (DOE's) National Transportation Program established the DOE Transportation Risk Assessment Working Group (TRAWG) to develop the Resource Handbook on DOE Transportation Risk Assessment, published in July 2002. The working group is comprised of technical experts representing DOE national laboratories, the DOE Naval Reactors Program, and DOE contractors. The motivation behind preparing this handbook was to document and disseminate lessons learned and information accumulated from more than 20 years of experience by DOE and its contractors in preparing transport risk assessments that address the shipment of virtually all types of radioactive materials and wastes. The handbook is intended to serve as a primary source of information on conducting transport risk assessments for shipments of radioactive materials or wastes under both normal and accident conditions. The paper provides an overview of the information contained in the handbook. It should be recognised that development of radioactive materials transport risk assessment is an ongoing process, and that the analysis methods are regularly improved. The Resource Handbook on DOE Transportation Risk Assessment appears on the Web at www.ntp.doe.gov/transrisk_handbook.pdf. (author)

  11. 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)

  12. Financial risk management of pharmacy benefits.

    Science.gov (United States)

    Saikami, D

    1997-10-01

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

  13. Risk 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...

  14. 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)

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

    Directory of Open Access Journals (Sweden)

    Grzegorz MICHALSKI

    2008-12-01

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

  16. Data Management in Metagenomics: A Risk Management Approach

    Directory of Open Access Journals (Sweden)

    Filipe Ferreira

    2014-07-01

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

  17. US Department of Energy Automated Transportation Management System

    International Nuclear Information System (INIS)

    Portsmouth, J.H.

    1994-01-01

    The U.S. Department of Energy (DOE) Transportation Management Division (TMD) is responsible for managing its various programs via a diverse combination of Government-Owned/Contractor-Operated facilities. TMD is seeking to update it automation capabilities in capturing and processing DOE transportation information. TMD's Transportation Information Network (TIN) is an attempt to bring together transportation management, shipment tracking, research activities and software products in various stages of development. The TMD's Automated Transportation Management System (ATMS) proposes to assist the DOE and its contractors in performing their daily transportation management activities and to assist the DOE Environmental Management Division in its waste management responsibilities throughout the DOE complex. The ATMS system will center about the storage, handling and documentation involved in the environmental clean-up of DOE sites. Waste shipments will be moved to approved Treatment, Storage and Disposal (TSD) facilities and/or nuclear material repositories. An additional investment in shipping samples to analytical laboratories also involves packaging and documentation according to all applicable U.S. Department of Transportation (DOT) or International Air Transport Association (IATA) regulations. The most immediate goal of effectively managing DOE transportation management functions during the 1990's is an increase in automation capabilities of the DOE and its contractors. Subject-matter experts from various DOE site locations will be brought together to develop and refine these capabilities through the maximum use of computer applications. A major part of this effort will be the identification of the most economical modes of transportation and enhanced management reporting capabilities for transportation analysis. The ATMS system will also provide for increased strategic and shipment analysis during the 1990's and beyond in support of the DOE environmental mission

  18. 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.

  19. 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.

  20. Model risk analysis for risk management and option pricing

    NARCIS (Netherlands)

    Kerkhof, F.L.J.

    2003-01-01

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

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

    Science.gov (United States)

    Neumann, Stefan

    2015-01-01

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

  2. ANALYSIS AND MANAGEMENT RISK IN INTERNATIONAL AFFAIRS

    OpenAIRE

    Lăpăduşi Mihaela Loredana,; Căruntu Constantin

    2009-01-01

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

  3. Managing flood risks in the Mekong Delta

    NARCIS (Netherlands)

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

    2018-01-01

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

  4. Integrated risk assessment for spent fuel transportation using developed software

    International Nuclear Information System (INIS)

    Yun, Mi Rae; Christian, Robby; Kim, Bo Gyung; Almomani, Belal; Ham, Jae Hyun; Kang, Gook Hyun; Lee, Sang hoon

    2016-01-01

    As on-site spent fuel storage meets limitation of their capacity, spent fuel need to be transported to other place. In this research, risk of two ways of transportation method, maritime transportation and on-site transportation, and interim storage facility were analyzed. Easier and integrated risk assessment for spent fuel transportation will be possible by applying this software. Risk assessment for spent fuel transportation has not been researched and this work showed a case for analysis. By using this analysis method and developed software, regulators can get some insights for spent fuel transportation. For example, they can restrict specific region for preventing ocean accident and also they can arrange spend fuel in interim storage facility avoiding most risky region which have high risk from aircraft engine shaft. Finally, they can apply soft material on the floor for specific stage for on-site transportation. In this software, because we targeted Korea, we need to use Korean reference data. However, there were few Korean reference data. Especially, there was no food chain data for Korean ocean. In MARINRAD, they used steady state food chain model, but it is far from reality. Therefore, to get Korean realistic reference data, dynamic food chain model for Korean ocean need to be developed

  5. Integrated risk assessment for spent fuel transportation using developed software

    Energy Technology Data Exchange (ETDEWEB)

    Yun, Mi Rae; Christian, Robby; Kim, Bo Gyung; Almomani, Belal; Ham, Jae Hyun; Kang, Gook Hyun [KAIST, Daejeon (Korea, Republic of); Lee, Sang hoon [Keimyung University, Daegu (Korea, Republic of)

    2016-05-15

    As on-site spent fuel storage meets limitation of their capacity, spent fuel need to be transported to other place. In this research, risk of two ways of transportation method, maritime transportation and on-site transportation, and interim storage facility were analyzed. Easier and integrated risk assessment for spent fuel transportation will be possible by applying this software. Risk assessment for spent fuel transportation has not been researched and this work showed a case for analysis. By using this analysis method and developed software, regulators can get some insights for spent fuel transportation. For example, they can restrict specific region for preventing ocean accident and also they can arrange spend fuel in interim storage facility avoiding most risky region which have high risk from aircraft engine shaft. Finally, they can apply soft material on the floor for specific stage for on-site transportation. In this software, because we targeted Korea, we need to use Korean reference data. However, there were few Korean reference data. Especially, there was no food chain data for Korean ocean. In MARINRAD, they used steady state food chain model, but it is far from reality. Therefore, to get Korean realistic reference data, dynamic food chain model for Korean ocean need to be developed.

  6. 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...

  7. Large dams and risk management

    International Nuclear Information System (INIS)

    Cazelais, N.

    2003-01-01

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

  8. Environmental asset management: Risk management systems

    CSIR Research Space (South Africa)

    Naudé, Brian

    2017-07-01

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

  9. 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.

  10. 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...

  11. Risk, innovation and change : design propositions for implementing risk management in organizations

    NARCIS (Netherlands)

    van Staveren, Martinus Theodorus

    2009-01-01

    This Ph.D. research generated unique design propositions for implementing existing risk management methodologies in organizations. The resulting design propositions incorporate a synthesis of risk management, innovation management and change management. True implementation of risk management is

  12. Risk analysis methodologies for the transportation of radioactive materials

    International Nuclear Information System (INIS)

    Geffen, C.A.

    1983-05-01

    Different methodologies have evolved for consideration of each of the many steps required in performing a transportation risk analysis. Although there are techniques that attempt to consider the entire scope of the analysis in depth, most applications of risk assessment to the transportation of nuclear fuel cycle materials develop specific methodologies for only one or two parts of the analysis. The remaining steps are simplified for the analyst by narrowing the scope of the effort (such as evaluating risks for only one material, or a particular set of accident scenarios, or movement over a specific route); performing a qualitative rather than a quantitative analysis (probabilities may be simply ranked as high, medium or low, for instance); or assuming some generic, conservative conditions for potential release fractions and consequences. This paper presents a discussion of the history and present state-of-the-art of transportation risk analysis methodologies. Many reports in this area were reviewed as background for this presentation. The literature review, while not exhaustive, did result in a complete representation of the major methods used today in transportation risk analysis. These methodologies primarily include the use of severity categories based on historical accident data, the analysis of specifically assumed accident sequences for the transportation activity of interest, and the use of fault or event tree analysis. Although the focus of this work has generally been on potential impacts to public groups, some effort has been expended in the estimation of risks to occupational groups in transportation activities

  13. US Department of Energy automated transportation management system

    International Nuclear Information System (INIS)

    Thomas, T.M.; Frost, D.M.; Lopez, C.A.

    1996-01-01

    The US Department of Energy (DOE) has approximately 80 facilities throughout the United States that specialize in either scientific research, engineering, technology, production, and/or waste management activities. These facilities can best be described as Government Owned, Contractor Operated (GOCO) sites, and vary in size from very small laboratories to large industrial plant type facilities. Each of these GOCO's have varying needs for transportation of materials into and/or out of their facility. Therefore, Traffic Management operations will differ from site to site due to size and the internal or site specific mission. The DOE Transportation Management Division (TMD) has the corporate responsibility to provide a well managed transportation management program for the safe, efficient, and economical transportation of all DOE-owned materials. To achieve this mission, TMD provides oversight, and when necessary, resources to assist in ensuring regulatory compliance in the packaging and shipment of DOE-owned materials. A large part of TMD's responsibility is to develop, administer, and provide policies and guidance concerning department-wide transportation and packaging operations. This responsibility includes overall Transportation Management policies and programs for the packaging and movement of all DOE materials, including radioactive materials, other hazardous materials/substances, and hazardous wastes. TMD formulates policies and guidance that assist the DOE Field Elements and GOCO's in meeting TMD's goal for safe, efficient and economical transportation. Considering there are at least 80 shipping and receiving sites, the challenge encountered by TMD has been the difficulty in managing such a diverse transportation community

  14. Risk analysis of radioactive waste management systems in Germany

    International Nuclear Information System (INIS)

    Wingender, H.J.

    1978-01-01

    Within the scope of a system study, ''Radioactive wastes in the Federal Republic of Germany,'' performed from 1974 through 1976, the questions of risk assessment were investigated. A risk analysis of a high-level waste (HLW) management system was performed. The results of the HLW tank storage are that the risk expectation value is 700 nJ/kg x RBE (7 x 10 -5 rem) per year for atmospheric release. The discussion of the main contributing accidents shows the possibility of reducing the risk by a technical means. A qualitative comparison on the release basis with the results of the WASH-1400 report shows significant differences that can be explained by the different methodologies applied. The risk analysis activities have led to a comprehensive risk assessment project, which was recently started. The projected includes research and development tasks concerning nuclide migration and transport to the ecosphere, nuclide mobilization by various mechanisms, methodology problems, data collection, computer code development, as well as risk analyses of waste management facilities. It is intended to round off the project with risk analyses of spent fuel element transport, storage, and reprocessing

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

    Science.gov (United States)

    2013-01-23

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

  16. Risk assessment and management logistics chains

    Directory of Open Access Journals (Sweden)

    Vladimir Vikulov

    2014-03-01

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

  17. Assessment of Transportation Risk of Radioactive Materials in Uganda

    International Nuclear Information System (INIS)

    Richard, Menya; Kim, Jonghyun

    2014-01-01

    Radioactive materials refer to any materials that spontaneously emit ionizing radiation and of which the radioactivity per gram is greater than 0.002 micro-curie. They include: spent nuclear fuel, nuclear wastes, medical sources i.e. Co-60, industrial sources i.e. Cs-137, Am-241:Be, Ra-226, and sources for research. In view of the rising reported cancer cases in Uganda, which might be as a result of radiation exposure due to constant transportation of radioactive materials i.e. industrial sources, a risk analysis was thought of and undertaken for the country's safety evaluation and improvement. It was therefore important to undertake a risk assessment of the actual and potential radiation exposure during the transportation process. This paper explains a study undertaken for transport risk assessment of the impact on the environment and the people living in it, from exposure to radioactivity during transportation of the industrial sources in Uganda. It provides estimates of radiological risks associated with visualized transport scenarios for the highway transport mode. This is done by calculating the human health impact and radiological risk from transportation of the sources along Busia transport route to Hoima. Busia is the entry port for the sources whilst Hoima, where various industrial practices that utilize sources like oil explorations are centered. During the study, a computer code RADTRAN-6 was used. The overall collective dose for population and package transport crew are 3.72E-4 and 1.69E-4 person-sievert respectively. These are less than the exemption value recommended by the IAEA and Uganda Regulatory Authority for public implying that no health effects like cancer are to be expected. Hence the rising cancer cases in the country are not as a result of increased transportation of radioactive materials in the Industrial sector

  18. Assessment of Transportation Risk of Radioactive Materials in Uganda

    Energy Technology Data Exchange (ETDEWEB)

    Richard, Menya; Kim, Jonghyun [KEPCO International Nuclear Graduate School, Ulsan (Korea, Republic of)

    2014-10-15

    Radioactive materials refer to any materials that spontaneously emit ionizing radiation and of which the radioactivity per gram is greater than 0.002 micro-curie. They include: spent nuclear fuel, nuclear wastes, medical sources i.e. Co-60, industrial sources i.e. Cs-137, Am-241:Be, Ra-226, and sources for research. In view of the rising reported cancer cases in Uganda, which might be as a result of radiation exposure due to constant transportation of radioactive materials i.e. industrial sources, a risk analysis was thought of and undertaken for the country's safety evaluation and improvement. It was therefore important to undertake a risk assessment of the actual and potential radiation exposure during the transportation process. This paper explains a study undertaken for transport risk assessment of the impact on the environment and the people living in it, from exposure to radioactivity during transportation of the industrial sources in Uganda. It provides estimates of radiological risks associated with visualized transport scenarios for the highway transport mode. This is done by calculating the human health impact and radiological risk from transportation of the sources along Busia transport route to Hoima. Busia is the entry port for the sources whilst Hoima, where various industrial practices that utilize sources like oil explorations are centered. During the study, a computer code RADTRAN-6 was used. The overall collective dose for population and package transport crew are 3.72E-4 and 1.69E-4 person-sievert respectively. These are less than the exemption value recommended by the IAEA and Uganda Regulatory Authority for public implying that no health effects like cancer are to be expected. Hence the rising cancer cases in the country are not as a result of increased transportation of radioactive materials in the Industrial sector.

  19. 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

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

    Science.gov (United States)

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

    2010-01-01

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

  1. IMPROVEMENT OF FREIGHT TRANSPORTATION PROCESS AND THEIR MANAGEMENT MECHANISM

    Directory of Open Access Journals (Sweden)

    L. V. Martsenyuk

    2014-03-01

    Full Text Available Purpose. For Ukraine as for a post-socialist state there is an objective need of reforming on railway transport. In order to meet the requirements of consumers both within the country and outside of it, it is necessary to solve transport problems in time and to introduce new technologies, without lagging behind the developed European states. The purpose of this article is identification of problems in the process of freight transportations and development of ways of their overcoming, formation of the principles of economic efficiency increase for the use of freight cars using the improvement of management mechanism of freight transportations in the conditions of reforming. Methodology. Methods of strategic planning, system approach for research on improvement of the management mechanism of freight transportations, as well as the organizational-administrative method for structure of management construction were used in this research. Findings. Authors have explored the problems arising in the process of transportation of goods and measures, which will increase the efficiency of goods transportation. Advanced mechanism of freight transportation management for its application in the conditions of the railway transport reforming was developed. It is based on management centralization. Originality. The major factors, which slow down process of cargo transportations, are investigated in the article. The principles of management mechanism improvement of freight transportations are stated. They are based on association of commercial and car-repair activity of depots. All this will allow reducing considerably a car turn by decrease in duration of idle times on railway transport, increasing the speed of freight delivery and cutting down a transport component in the price of delivered production. Practical value. The offered measures will improve the efficiency of rolling stock use and increase cargo volumes turnover, promote links of Ukraine with

  2. 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

  3. 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.

  4. 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.

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

    African Journals Online (AJOL)

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

  6. RISKS MANAGEMENT. A PROPENSITY SCORE APPLICATION

    Directory of Open Access Journals (Sweden)

    Constangioara Alexandru

    2008-05-01

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

  7. Integral management of hazardous materials transport

    International Nuclear Information System (INIS)

    Moran, M.

    2002-01-01

    As a result of outsourcing transport operations and complementary services on the part of the producers and shippers, there is a growing demand for global services that integrate the whole external logistics value chain, the latter being understood to signify the process that includes the storage, transport (monomodal or bi-multi-modal) and delivery to destination. This circumstance has obliged transport firms to undertake a process of internal transformation: from offering an activity purely of transport to becoming logistics operators. Express Truck, S. a. (hereinafter ETSA) could not ignore this market requirement. We will explain the evolutionary process of ETSA in this sense. (Author)

  8. Risks in hospitals. Assessment and Management

    Directory of Open Access Journals (Sweden)

    Bradea Ioana-Alexandra

    2014-12-01

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

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

    Directory of Open Access Journals (Sweden)

    Irina Dănciulescu

    2015-12-01

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

  10. Sandia Transportation Technical Environmental Information Center and its application to transportation risk analyses

    International Nuclear Information System (INIS)

    Foley, J.T.; Davidson, C.A.; McClure, J.D.

    1978-01-01

    Purpose of this paper is to describe an applied research activity which is fundamental to the conduct of transportation analyses: the collection, analysis, storage, and retrieval of information on the intensities of technical environments. This paper describes the collection system which provides such a service to official researchers in transportation analysis and the applications of this information in the area of risk analysis

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

    International Nuclear Information System (INIS)

    Iden, D.C.

    1985-01-01

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

  12. Power Electronics Thermal Management | Transportation Research | NREL

    Science.gov (United States)

    Power Electronics Thermal Management Power Electronics Thermal Management A photo of water boiling in liquid cooling lab equipment. Power electronics thermal management research aims to help lower the investigates and develops thermal management strategies for power electronics systems that use wide-bandgap

  13. Models for assessing and managing credit risk

    Directory of Open Access Journals (Sweden)

    Neogradi Slađana

    2014-01-01

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

  14. Approaches To Conflict Management Among Transport Associations ...

    African Journals Online (AJOL)

    This paper examines how conflicts arising from the daily operations of transport associations in Nigeria are resolved. The study was hindered by time; economic factors and uncooperative attitude of respondents. The study was limited to Oyo State, Nigeria where 126 transporters were selected using stratified random ...

  15. Enabling technologies for demand management: Transport

    International Nuclear Information System (INIS)

    Smith, Roderick A.

    2008-01-01

    Rising transport demand is likely to be the biggest hurdle to reducing our greenhouse gas emissions. Globally and nationally, transport is consuming an ever increasing share of our total energy use. Furthermore, the bulk of energy used in transport comes from the burning of petroleum products. This brief paper summarises options arising from the two routes to reduce energy demand in transport: improved and more efficient use of existing and possible new transport modes, and the reduction of transport demand. In both areas, the prospects in the immediate and longer-term future are hedged with difficulties. Automobiles and aircraft have improved considerably in recent decades, but future improvements are likely to be incremental. The introduction of hydrogen as a fuel is appealing, but there are technical problems to be solved. Active reduction of demand for transport will require a decoupling of the link between demand and growth in gross domestic product. Globally, this will be very difficult to achieve. Various modes of public transport exist that are efficient in terms of their energy use per passenger kilometre. But they need large investments to make them more attractive than the automobile. However, population concentration in mega-cities, allied with congestion, will make such innovation essential. Policy measures can be assisted in their implementation by new technology, but will remain politically problematic

  16. [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.

  17. 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.

  18. 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.

  19. 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.

  20. 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.

  1. 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...

  2. Risk management; Maitriser le risque

    Energy Technology Data Exchange (ETDEWEB)

    Magne, L

    1999-07-01

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

  3. Managers facing the climatic risks

    International Nuclear Information System (INIS)

    2003-01-01

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

  4. 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

  5. South Coast Air Quality Management District Truck Testing | Transportation

    Science.gov (United States)

    Research | NREL South Coast Air Quality Management District Truck Evaluation South Coast Air Quality Management District Truck Evaluation Photo of heavy-duty truck cab. Electric drayage truck Cargo Transportation project, conducted in partnership with the South Coast Air Quality Management

  6. 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

  7. 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...

  8. 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

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

    OpenAIRE

    Valentin Mazareanu

    2007-01-01

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

  10. Risk perception as a driver for risk management policies

    Science.gov (United States)

    Carmona, María; Mañez, María

    2016-04-01

    Risk is generally defined as the "combination of the probability of the occurrence of an event and its negative consequences" ( UNISDR, 2009). However, the perception of a risk differs among cultures regarding different features such as the context,causes, benefits or damage. Risk perception is the subjective valuation of the probability of an event happening and how concerned individuals or groups are with the consequences (Sjöberg, 2004). Our study is based on an existing framework for risk perception (Rehn and Rohrmann, 2000). We analyse the characteristics of the risk perception regarding extreme events (e.g.droughts) and how the perception of the group drives the action to manage the risk. We do this to achieve an overview of the conditions that let stakeholders join each other to improve risk management especially when governments are not reacting properly. For our research, attention is paid on risk perception of Multi-Sector Partnerships not taking into account the individual level of risk perception. We focus on those factors that make risk management effective and increase resilience. Multi-Sector Partnerships, considered as significant governance structures for risk management, might contribute to reduce vulnerability in prone areas to natural hazards and disasters. The Multi-Sector Partnerships used for our research are existing partnerships identified in the cases studies of the European project ENHANCE. We implement a survey to analyse the perception of risk in the case studies. That survey is based on the Cultural Theory (Douglas and Wildavsky, 1982)and the Protection Motivation Theory (Rogers, 1975). We analyse the results using the Qualitative-Comparative Analysis proposed by Ragin in 1987. The results show the main characteristics of a risk culture that are beneficial to manage a risk. Those characteristics are shaped by the perception of risk of the people involved in the partnership, which in turn shapes their risk management. Nevertheless, we

  11. 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

  12. Practical Methods for Information Security Risk Management

    Directory of Open Access Journals (Sweden)

    Cristian AMANCEI

    2011-01-01

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

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

    African Journals Online (AJOL)

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

  14. 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.

  15. 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

  16. 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...

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

    African Journals Online (AJOL)

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

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

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

    2013-05-21

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

  19. 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.

  20. Managing risks in the project pipeline.

    Science.gov (United States)

    2013-08-01

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

  1. 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.

  2. 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...

  3. 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...

  4. 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

  5. AASHTO transportation asset management guide : a focus on implementation executive summary.

    Science.gov (United States)

    2013-06-01

    This AASHTO Transportation Asset Management Executive Summary serves as a companion to the AASHTO Transportation : Asset Management GuideA Focus on Implementation, which takes as a starting point the Transportation : Asset Management Guide publish...

  6. 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

  7. 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

  8. Weather information integration in transportation management center (TMC) operations.

    Science.gov (United States)

    2011-01-02

    This report presents the results of the third phase of an on-going FHWA study on weather integration in Transportation Management Center (TMC) operations. The report briefly describes the earlier phases of the integration study, summarizes the findin...

  9. Environmental management system for transportation maintenance operations : [technical brief].

    Science.gov (United States)

    2014-04-01

    This report provides the framework for the environmental management system to analyze : greenhouse gas emissions from transportation maintenance operations. The system enables user : to compare different scenarios and make informed decisions to minim...

  10. Implementation of transportation asset management in Grandview, Missouri : final report.

    Science.gov (United States)

    2017-02-01

    The successful implementation of transportation asset management (TAM) by local governments facilitates the optimization of limited resources. The use of a data-driven TAM program helps to identify and prioritize needs, identify and dedicate resource...

  11. Development of transportation asset management decision support tools : final report.

    Science.gov (United States)

    2017-08-09

    This study developed a web-based prototype decision support platform to demonstrate the benefits of transportation asset management in monitoring asset performance, supporting asset funding decisions, planning budget tradeoffs, and optimizing resourc...

  12. Alternative Transportation System Demand Estimation for Federal Land Management Agencies.

    Science.gov (United States)

    2011-09-30

    Estimating travel demand for alternative transportation systems (ATS) is challenging in any context, but is even more daunting for Federal Land Management Agencies (FLMAs). Federal public land sites vary widely in their characteristics. Moreover, tra...

  13. Designing for transportation management and operations : a primer.

    Science.gov (United States)

    2013-02-01

    This primer is focused on the collaborative and systematic consideration of management and operations during transportation : project design and development. This is termed designing for operations. Effectively designing for operations involves...

  14. Geotechnical data management at the Virginia Department of Transportation.

    Science.gov (United States)

    2010-04-01

    This report describes the development and implementation of the geotechnical data management system at the Virginia Department of Transportation (VDOT). The purpose of this project was to develop a practical, comprehensive, enterprise-wide system for...

  15. Measuring Risk Aversion to Guide Transportation Policy

    DEFF Research Database (Denmark)

    Dixit, Vinayak K.; Harb, Rami C.; Martínez-Correa, Jimmy

    2015-01-01

    Road pricing may provide a solution to increasing traffic congestion in metropolitan areas. Route, departure time and travel mode choices depend on risk attitudes as commuters perceive the options as having uncertain effects on travel times. We propose that Experimental Economics methods can...... deliver data that uses real consequences and where the context can be varied by the researcher. The approach relies on the controlled manipulation of contexts, similar to what is done in the Stated Choice approach, but builds in actual consequences, similar to the Revealed Preference approach. This paper...

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

    Institute of Scientific and Technical Information of China (English)

    LI Gui-jun; ZHANG Yue-song

    2006-01-01

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

  17. Plant risk status information management system

    International Nuclear Information System (INIS)

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

    1985-01-01

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

  18. Delegated Portfolio Management and Risk Taking Behavior

    OpenAIRE

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

    2009-01-01

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

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

    CERN Document Server

    Hopkin, Paul

    2012-01-01

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

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

    OpenAIRE

    Wojciech Machowiak

    2012-01-01

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

  1. Applying intelligent transport systems to manage noise impacts

    NARCIS (Netherlands)

    Wilmink, I.R.; Vonk, T.

    2015-01-01

    This contribution discusses how traffic management, and many other measures that can be categorised as Intelligent Transport Systems (ITS, i.e. all traffic and transport measures that use ICT) can help reduce noise levels by influencing mobility choices and driving behaviour. Several examples of

  2. Operational and regulatory impacts of regional management on transportation of commercial low-level radioactive waste

    International Nuclear Information System (INIS)

    Shirley, C.G.; Wilmot, E.L.; Shepherd, E.W.

    1981-09-01

    The 96th Congress of the United States, as part of the Low-level Radioactive Waste Policy Act of 1980 (Public Law 96-573), instructed the Secretary of the Department of Energy (DOE) to prepare a report on the current US low-level waste management situation and the conditions and requirements for management on a regional basis. The Transportation Technology Center has compared the transportation requirement and regional management scenarios for commercial low-level radioactive waste in support of the DOE response to this instruction. Using 1979 low-level waste volumes shipped to commercial burial grounds and six management regions postulated by DOE, transportation requirements were estimated and compared for the two management scenarios in terms of cumulative shipping distance and transportation cost. Effects of these results on the demand for transportation services and equipment and on population risks were considered. Finally, current regulatory issues and the potential effects of regional management on regulation of low-level waste transportation were reviewed

  3. Assessment of Transport Projects: Risk Analysis and Decision Support

    DEFF Research Database (Denmark)

    Salling, Kim Bang

    2008-01-01

    functions. New research proved that specifically two impacts stood out in transport project assessment, namely, travel time savings and construction costs. The final concern of this study has been the fitting of distributions, e.g. by the use of data from major databases developed in which Optimism Bias...... choosing probability distributions and performing real term data fits. The perspective of this Ph.D. study presents newer and better understanding of assigning risks within assessment of transport projects....

  4. Intergovermental Cooperation Initiative on Sustainable Transportation Management in Jabodetabek

    Directory of Open Access Journals (Sweden)

    Hidayat Chusnul Chotimah

    2016-05-01

    Full Text Available The main issues in Jabodetabek concerning the management of transportation are related to the increased use of private vehicles and the decreased use of public transportation, overcrowding daily traffic in Jabodetabek, the high congestion followed by insecurity in traffic, environmental pollution, uncontrolled growth of and underdeveloped infrastructure, and irregularities in land use. To overcome these problems, sustainable transportation management becomes very important in which the government should be able to cope with environmental, economic and social factors under the decision making related to transportation in Jabodetabek. Therefore, through interactive planning, this study will examine intergovernmental cooperation initiatives on sustainable transportation management in Jabodetabek. This study uses qualitative and descriptive method through literature study and existing statistics as the resources to apply the interactive planning approach. The result shows that there are found a number of problems and gaps in the management of transportation in Jabodetabek that needs to be reduced because it has the same scope of other gaps. From these problems can be made further action programs and policies in accordance with the resources owned, and then, the design of implementation made and controlled whether in accordance with the purpose or not. Thus, sustainable transportation management in the Jabodetabek needs to be done jointly in an institutional or policyframework involving governments Jabodetabekpunjur, BKSP Jabodetabekpunjur, and the private sector.

  5. Towards a Hyperconnected Transportation Management System: Application to Blood Logistics

    OpenAIRE

    Schoen , Quentin; Lauras , Matthieu; Truptil , Sébastien; Fontanili , Franck; Anquetil , Anne-Ghislaine

    2016-01-01

    Part 1: Hyperconnectivity and Interoperation - Hyperconnected Systems; International audience; Internet of Things, connected devices, and other wireless sensors networks offer a number of new opportunities to manage transportation flows. This is particularly interesting for critical Supply Chains like Blood Supply Chains. In this research work, we investigate how such new technologies can enhance transportation system by better managing hazards and changes. By developing an event-driven decis...

  6. Management of interest rate risk

    Directory of Open Access Journals (Sweden)

    Šabović Šerif

    2014-01-01

    Full Text Available Interest rate risk is one of the biggest and most dangerous risks that a bank is exposed to. When a change of interest rates occurs, the incomes of a bank based on credits and securities endure significant changes. Banks resources also endure some changes. The change of interest rates changes the value of the assets and liabilities of the bank and it's net and investment worth . The change of interest rates also affects bank's balance sheet, income sheet statement and bank's share capital.

  7. Integrated risk reduction framework to improve railway hazardous materials transportation safety.

    Science.gov (United States)

    Liu, Xiang; Saat, M Rapik; Barkan, Christopher P L

    2013-09-15

    Rail transportation plays a critical role to safely and efficiently transport hazardous materials. A number of strategies have been implemented or are being developed to reduce the risk of hazardous materials release from train accidents. Each of these risk reduction strategies has its safety benefit and corresponding implementation cost. However, the cost effectiveness of the integration of different risk reduction strategies is not well understood. Meanwhile, there has been growing interest in the U.S. rail industry and government to best allocate resources for improving hazardous materials transportation safety. This paper presents an optimization model that considers the combination of two types of risk reduction strategies, broken rail prevention and tank car safety design enhancement. A Pareto-optimality technique is used to maximize risk reduction at a given level of investment. The framework presented in this paper can be adapted to address a broader set of risk reduction strategies and is intended to assist decision makers for local, regional and system-wide risk management of rail hazardous materials transportation. Copyright © 2013 Elsevier B.V. All rights reserved.

  8. 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)

  9. 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

  10. 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.

  11. 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.

  12. 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

  13. 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

  14. Managing Risk Areas in Software Development Offshoring

    DEFF Research Database (Denmark)

    Persson, John Stouby; Schlichter, Bjarne Rerup

    2015-01-01

    Software companies are increasingly offshoring development to countries with high expertise at lower cost. Offshoring involves particular risk areas that if ignored increase the likelihood of failure. However, the offshoring client’s maturity level may influence the management of these risk areas...

  15. Self-management of vascular risk factors

    NARCIS (Netherlands)

    Sol-de Rijk, B.G.M.

    2009-01-01

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

  16. Methodology of environmental risk assessment management

    Directory of Open Access Journals (Sweden)

    Saša T. Bakrač

    2012-04-01

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

  17. Interplanetary Supply Chain Risk Management

    Science.gov (United States)

    Galluzzi, Michael C.

    2018-01-01

    Emphasis on KSC ground processing operations, reduced spares up-mass lift requirements and campaign-level flexible path perspective for space systems support as Regolith-based ISM is achieved by; Network modeling for sequencing space logistics and in-space logistics nodal positioning to include feedstock. Economic modeling to assess ISM 3D printing adaption and supply chain risk.

  18. Risk assessment for transportation of radioactive materials and nuclear explosives

    International Nuclear Information System (INIS)

    Clauss, D.B.; Wilson, R.K.; Hartman, W.F.

    1991-01-01

    Sandia National Laboratories has the lead technical role for probabilistic risk assessments of transportation of nuclear weapons, components, and special nuclear material in support of the US Department of Energy. The emphasis of the risk assessments is on evaluating the probability of inadvertent disposal of radioactive material and the consequences of such a release. This paper will provide an overview of the methodology being developed for the risk assessment and will discuss the interpretation and use of the results. The advantages and disadvantages of using risk assessment as an alternative to performance-based criteria for packaging will be described. 2 refs., 1 fig

  19. 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

  20. RADTRAN 5: A computer code for transportation risk analysis

    International Nuclear Information System (INIS)

    Neuhauser, K.S.; Kanipe, F.L.

    1991-01-01

    RADTRAN 5 is a computer code developed at Sandia National Laboratories (SNL) in Albuquerque, NM, to estimate radiological and nonradiological risks of radioactive materials transportation. RADTRAN 5 is written in ANSI Standard FORTRAN 77 and contains significant advances in the methodology for route-specific analysis first developed by SNL for RADTRAN 4 (Neuhauser and Kanipe, 1992). Like the previous RADTRAN codes, RADTRAN 5 contains two major modules for incident-free and accident risk amlysis, respectively. All commercially important transportation modes may be analyzed with RADTRAN 5: highway by combination truck; highway by light-duty vehicle; rail; barge; ocean-going ship; cargo air; and passenger air

  1. Managing sovereign credit risk in bond portfolios

    OpenAIRE

    Bruder, Benjamin; Hereil, Pierre; Roncalli, Thierry

    2011-01-01

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

  2. 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...

  3. Management Risk Reporting Practices and their determinants

    OpenAIRE

    VANDEMAELE, Sigrid; VERGAUWEN, Philip; MICHIELS, Anneleen

    2009-01-01

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

  4. Credit Risk Management in Chinese Banking Industry

    OpenAIRE

    Zhang, Lei

    2006-01-01

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

  5. 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...

  6. 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 ...

  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. 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.

  9. Managing uncertainty: Lessons from volcanic lava disruption of transportation infrastructure in Puna, Hawaii.

    Science.gov (United States)

    Kim, Karl; Pant, Pradip; Yamashita, Eric

    A recent lava flow in Puna, Hawaii, threatened to close one of the major highways serving the region. This article provides background information on the volcanic hazards and describes events, responses, and challenges associated with managing a complex, long-duration disaster. In addition to the need to better understand geologic hazards and threats, there is a need for timely information and effective response and recovery of transportation infrastructure. This requires coordination and sharing of information between scientists, emergency managers, transportation planners, government agencies, and community organizations. Transportation assets play a critical role in terms of problem definition, response, and recovery. The challenges with managing a long-duration event include: (1) determining when a sufficient threat level exists to close roads; (2) identifying transportation alternatives; (3) assessing impacts on communities including the direct threats to homes, businesses, structures, and infrastructure; (4) engaging communities in planning and deliberation of choices and alternatives; and (5) managing uncertainties and different reactions to hazards, threats, and risks. The transportation planning process provides a pathway for addressing initial community concerns. Focusing not just on roadways but also on travel behavior before, during, and after disasters is a vital aspect of building resilience. The experience in Puna with the volcano crisis is relevant to other communities seeking to adapt and manage long-term threats such as climate change, sea level risk, and other long-duration events.

  10. Road Transport Management System (RTMS): a self regulation initiative in heavy vehicle transport in South Africa

    CSIR Research Space (South Africa)

    Nordengen, Paul A

    2007-07-01

    Full Text Available This paper describes the most recent developments of an initiative to introduce meaningful self-regulation in the heavy vehicle transport industry through a Road Transport Management System (RTMS) with the aim of contributing to the road authorities...

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

    OpenAIRE

    Nadia Carmen ENE

    2005-01-01

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

  12. 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...

  13. 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)

  14. The role of risk perception for risk management

    International Nuclear Information System (INIS)

    Renn, Ortwin

    1998-01-01

    Are risks social constructions of different societal actors that can be checked at best against standards of consistency, cohesion and internal conventions of deduction, but cannot claim any validity outside of the actor's logical framework? Or are technical estimates of risk representations of real hazards that can and will affect people as predicted by the statistical values, regardless of the beliefs or convictions of those who conduct the assessments? Which of the two sides one takes determines the legitimate function of risk perception for management purposes. The paper argues that both extremes, the constructivist and the realist perspective, miss the point, as risks are always mental representations of threats that are capable of claiming real losses. Over the last two decades, risk analysts have dealt with both sides of risk in an additive fashion. In times in which risk management has been under serious pressure to demonstrate effectiveness and cost-efficiency, the parallel approach of pleasing the technical elite and the public alike has lost legitimacy. In order to integrate risk assessment and perception, the paper analyses the strengths and weaknesses of each approach to risk analysis and highlights the potential contributions that the technical sciences and the social sciences can offer to risk management. Technical assessments provide the best estimate for judging the average probability of an adverse effect linked to an object or activity. First, public perception should govern the selection of criteria on which acceptability or tolerability are to be judged. Second, public input is needed to determine the trade-offs between criteria. Third, public preferences are needed to design resilient strategies for coping with remaining uncertainties. A public participation model is introduced that promises an integration of analytic knowledge and deliberative process involving those who will be affected by the respective risk

  15. 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.

  16. Transitioning leadership and risk management

    OpenAIRE

    Coulson-Thomas, Colin

    2017-01-01

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

  17. Risk assessment for the transportation of radioactive zeolite liners

    International Nuclear Information System (INIS)

    Gallucci, R.H.V.

    1982-01-01

    The accident risk is estimated for the shipment of two zeolite liners containing radioactive cesium and strontium. Each liner, assumed to hold 68,200 Ci and sealed inside a CNS 1 to 13C, type-B shipping cask, is transported by truck over a 4200-km route. The risk to the population along the route is calculated for potential transportation accidents involving fire, impact, and puncture forces. The total risk is 5.3E-7 man-rem (50-year inhalation dose) and the maximum dose (from the least-likely accident) is 0.7 man-rem. Both estimates are less than 0.1% of comparable risk measures for natural background radiation and spent fuel shipment accidents

  18. Automated Transportation Management System (ATMS) Software Project Management Plan (SPMP). Revision 2

    International Nuclear Information System (INIS)

    Weidert, R.S.

    1995-01-01

    As a cabinet level federal agency with a diverse range of missions and an infrastructure spanning the United States, the US Department of Energy (DOE) has extensive freight transportation requirements. Performance and management of this freight activity is a critical function. DOE's Transportation Management Division (TMD) has an agency-wide responsibility for overseeing transportation activities. Actual transportation operations are handled by government or contractor staff at the field locations. These staff have evolved a diverse range of techniques and procedures for performing transportation functions. In addition to minimizing the economic impact of transportation on programs, facility transportation staff must be concerned with the increasingly complex task of complying with complex shipment safety regulations. Maintaining the department's safety record for shipping hazardous and radioactive materials is a primary goal. Use of automation to aid transportation functions is not widespread within DOE, though TMD has a number of software systems designed to gather and analyze data pertaining to field transportation activities. These systems are not integrated. Historically, most field facilities have accomplished transportation-related tasks manually or with minimal computer assistance. At best, information and decision support systems available to transportation staffs within the facilities are fragmented. In deciding where to allocate resources for automation, facility managers have not tended to give the needs of transportation departments a high priority. This diversity causes TMD significant difficulty in collecting data for use in managing department-wide transportation activities

  19. Automated Transportation Management System (ATMS) Software Project Management Plan (SPMP). Revision 2

    Energy Technology Data Exchange (ETDEWEB)

    Weidert, R.S.

    1995-05-26

    As a cabinet level federal agency with a diverse range of missions and an infrastructure spanning the United States, the US Department of Energy (DOE) has extensive freight transportation requirements. Performance and management of this freight activity is a critical function. DOE`s Transportation Management Division (TMD) has an agency-wide responsibility for overseeing transportation activities. Actual transportation operations are handled by government or contractor staff at the field locations. These staff have evolved a diverse range of techniques and procedures for performing transportation functions. In addition to minimizing the economic impact of transportation on programs, facility transportation staff must be concerned with the increasingly complex task of complying with complex shipment safety regulations. Maintaining the department`s safety record for shipping hazardous and radioactive materials is a primary goal. Use of automation to aid transportation functions is not widespread within DOE, though TMD has a number of software systems designed to gather and analyze data pertaining to field transportation activities. These systems are not integrated. Historically, most field facilities have accomplished transportation-related tasks manually or with minimal computer assistance. At best, information and decision support systems available to transportation staffs within the facilities are fragmented. In deciding where to allocate resources for automation, facility managers have not tended to give the needs of transportation departments a high priority. This diversity causes TMD significant difficulty in collecting data for use in managing department-wide transportation activities.

  20. The Role of risk perception for risk management

    International Nuclear Information System (INIS)

    Renn, Ortwin

    1999-01-01

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

  1. 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)

  2. 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...

  3. Living with risk: a management question

    International Nuclear Information System (INIS)

    Ale, Ben J.M.

    2005-01-01

    Public authorities started to be really involved in risk management of hazardous materials some 30 years ago. Recent developments have led to fresh attention for this matter and many further developments are underway. The history of risk management and safety regulation is one of strongly variable interest, forgotten lessons and rude awakenings. The impetus exerted by accidents is short lived. Safety cases become documents to satisfy regulation rather than instruments to reduce risk. Deregulation, privatisation, and outsourcing pose new challenges to safety and risk management. Some of the unfortunate side effects have already become apparent. This invariably leads to the next disaster, which will have a striking resemblance to the previous one when abstracted from the immediate technological context. Lessons can be learned if we really want. The question remains: 'Do we?'

  4. Reduction of spatial distribution of risk factors for transportation of contaminants released by coal mining activities.

    Science.gov (United States)

    Karan, Shivesh Kishore; Samadder, Sukha Ranjan

    2016-09-15

    It is reported that water-energy nexus composes two of the biggest development and human health challenges. In the present study we presented a Risk Potential Index (RPI) model which encapsulates Source, Vector (Transport), and Target risks for forecasting surface water contamination. The main aim of the model is to identify critical surface water risk zones for an open cast mining environment, taking Jharia Coalfield, India as the study area. The model also helps in feasible sampling design. Based on spatial analysis various risk zones were successfully delineated. Monthly RPI distribution revealed that the risk of surface water contamination was highest during the monsoon months. Surface water samples were analysed to validate the model. A GIS based alternative management option was proposed to reduce surface water contamination risk and observed 96% and 86% decrease in the spatial distribution of very high risk areas for the months June and July respectively. Copyright © 2016 Elsevier Ltd. All rights reserved.

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

    Directory of Open Access Journals (Sweden)

    Wojciech Machowiak

    2012-12-01

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

  6. Risk management in a university environment.

    Science.gov (United States)

    Brewer, Ann; Walker, Ian

    2011-06-01

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

  7. Usefulness of the risk assessment technique in solving transportation problems

    International Nuclear Information System (INIS)

    Johnson, J.F.; Hall, R.J.

    1976-08-01

    The purpose was to develop and use a model to assess the risk associated with the shipment of nuclear and non-nuclear hazardous energy-related materials. The analysis method comprises the steps of describing the system, identifying the release sequence, evaluating the sequence, and calculating and assessing the risk. Plutonium shipment is used as an example. Uses of this method to improve transportation safety are discussed. 12 fig

  8. Managing supply chains : transport optimization and chain synchronization

    NARCIS (Netherlands)

    van Woensel, T.; Dabia, S.; de Kok, A.G.; van Nunen, J.A.E.E.; Huijbregts, P.; Rietveld, P.

    2011-01-01

    Transport optimization is part of the broad area of physical distribution and logistics management. Physical distribution involves the handling, movement, and storage of goods from the point of origin to their point of consumption or use, via various channels of distribution. Logistics management

  9. Risk assessment in spent fuel storage and transportation

    International Nuclear Information System (INIS)

    Pandimani, S.

    1989-01-01

    Risk assessment in various stages of nuclear fuel cycle is still an active area of Nuclear safety studies. From the results of risk assessment available in literature, it can be determined that the risk resulting from shipments of plutonium and spent-fuel are much greater than that resulting from the transport of other materials within the nuclear fuel cycle. In India spent fuels are kept in Spent Fuel Storage Pool (SFSP) for about 240-400 days, which is relatively a longer period compared to the usual 120 days as recommended by regulatory authorities. After cooling spent fuels are transported to the reprocessing sites which are mostly situated close to the plants. India has two high level waste treatment facilities, one PREFRE (Plutonium Reprocessing and Fuel Recycling) at Tarapur and the other one, a unit of Nuclear Fuel Complex at Hyderabad. This paper presents the risk associated with spent fuel storage and transportation for the Indian conditions. All calculations are based on a typical CANDU reactor system. Simple fault tree models are evolved for SFSP and for Transportation Accident Mode (TAM) for both road and rail. Fault tree quantification and risk assessment are done to each of these models. All necessary data for SFSP are taken mostly from Reactor Safety Study, (1975). Similarly, the data for rail TAM are taken from Annual Statistical Statements, (1987-8) and that for road TAM from Special Issue on Motor Vehicle Accident Statistics in India, (1986). Simulation method is used wherever necessary. Risk is also estimated for normal/accident free transport

  10. Evacuation transportation management : task five : operational concept.

    Science.gov (United States)

    2009-06-26

    Much of what is known about evacuations is based on preparations for incidents, such as hurricanes, for which there is advance warning. With advance warning, evacuations can be planned and managed using procedures and systems that have been developed...

  11. Evacuation transportation management. Task five, Operational concept

    Science.gov (United States)

    2006-01-01

    Much of what is known about evacuations is based on preparations for incidents, such as hurricanes, for which there is advance warning. With advance warning, evacuations can be planned and managed using procedures and systems that have been developed...

  12. 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.

  13. Managing IT-related operational risks

    Directory of Open Access Journals (Sweden)

    Savić Ana

    2008-01-01

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

  14. 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...

  15. Integrated risk reduction framework to improve railway hazardous materials transportation safety

    Energy Technology Data Exchange (ETDEWEB)

    Liu, Xiang, E-mail: liu94@illinois.edu; Saat, M. Rapik, E-mail: mohdsaat@illinois.edu; Barkan, Christopher P.L., E-mail: cbarkan@illinois.edu

    2013-09-15

    Highlights: • An integrated framework is developed to optimize risk reduction. • A negative binomial regression model is developed to analyze accident-cause-specific railcar derailment probability. • A Pareto-optimality technique is applied to determine the lowest risk given any level of resource. • A multi-attribute decision model is developed to determine the optimal amount of investment for risk reduction. • The models could aid the government and rail industry in developing cost-efficient risk reduction policy and practice. -- Abstract: Rail transportation plays a critical role to safely and efficiently transport hazardous materials. A number of strategies have been implemented or are being developed to reduce the risk of hazardous materials release from train accidents. Each of these risk reduction strategies has its safety benefit and corresponding implementation cost. However, the cost effectiveness of the integration of different risk reduction strategies is not well understood. Meanwhile, there has been growing interest in the U.S. rail industry and government to best allocate resources for improving hazardous materials transportation safety. This paper presents an optimization model that considers the combination of two types of risk reduction strategies, broken rail prevention and tank car safety design enhancement. A Pareto-optimality technique is used to maximize risk reduction at a given level of investment. The framework presented in this paper can be adapted to address a broader set of risk reduction strategies and is intended to assist decision makers for local, regional and system-wide risk management of rail hazardous materials transportation.

  16. Proposal of risk evaluation methodology for hazardous materials transportation

    International Nuclear Information System (INIS)

    Hartman, Luiz Carlos

    2009-01-01

    The increasing concern with the level of risk associated with the transportation of hazardous materials took some international institutions to pledge efforts in the evaluation of risk in regional level. Following this trend, the objective of this work was to analyze the most recent processes of analysis of risks from road transportation of hazardous materials. In the present work 21 methodologies of analysis of risks, developed by some authors and for diverse localities have been evaluated. Two of them, in special, have been reviewed and discussed: a method recently developed by the Swiss Federal Institute of Technology (Nicolet-Monnier and Gheorghe, 1996) and the strategy delineated by the Center for Chemical Process Safety CCPS (1995), taking into consideration the estimate of the individual and social risk. Also, the models of Harwood et al. (1990) and of Ramos (1997), adapted by Hartman (2003) have been applied to the reality of the roads of the state of Sao Paulo. The extension of these methodologies was explored, in order to find its advantages and disadvantages. As a study case the present work considered the ammonia transportation throughout two routes evaluating the reality of the roads of the state of Sao Paulo, including a significant parcel of evaluation in a densely populated area, getting the results using risk, at least, one of the methodologies mentioned above. The innovation proposed by this work was the research, the development and the introduction of two variables to the model considered by Harwood et al. (1990). These variables that influence in the value of the risk are: the age of the driver of truck and the zone of impact that is function type of product, period of the day where the transport was carried and the volume that has been transported. The aim of the proposed modifications is to let the value of the risk more sensible in relation to the type of the product carried and the age of the truck driver. The main related procedural stages

  17. Yucca Mountain transportation routes: Preliminary characterization and risk analysis

    International Nuclear Information System (INIS)

    Souleyrette, R.R. II; Sathisan, S.K.; di Bartolo, R.

    1991-01-01

    This report presents appendices related to the preliminary assessment and risk analysis for high-level radioactive waste transportation routes to the proposed Yucca Mountain Project repository. Information includes data on population density, traffic volume, ecologically sensitive areas, and accident history

  18. Know the Risks: Transporting Students in Private Vehicles

    Science.gov (United States)

    Mahoney, Dan

    2011-01-01

    Scheduling off-campus extracurricular activities is not the issue, but how to get students there can present a problem. The transportation of students by staff in their private cars for extracurricular activities is common and occurs chiefly as a matter of convenience or cost saving. But it is not without risks. In general, the best solution for…

  19. Integration of transport concepts for risk assessment of pesticide erosion

    NARCIS (Netherlands)

    Yang, Xiaomei; Zee, van der Sjoerd E.A.T.M.; Gai, Lingtong; Wesseling, Jan G.; Ritsema, Coen J.; Geissen, Violette

    2016-01-01

    Environmental contamination by agrochemicals has been a large problem for decades. Pesticides are transported in runoff and remain attached to eroded soil particles, posing a risk to water and soil quality and human health. We have developed a parsimonious integrative model of pesticide

  20. Transport project evaluation: feasibility risk assessment and scenario forecasting

    DEFF Research Database (Denmark)

    Salling, Kim Bang; Leleur, Steen

    2017-01-01

    This paper presents a new approach to transport project assessment in terms of feasibility risk assessment and reference class forecasting. Conventionally, transport project assessment is based upon a Cost-Benefit Analysis (CBA) where evaluation criteria such as Benefit Cost Ratios (BCR...... on the preliminary construction cost estimates. Hereafter, a quantitative risk analysis is provided making use of Monte Carlo simulation. This approach facilitates random input parameters based upon reference class forecasting, hence, a parameter data fit has been performed in order to obtain validated probability...... Scenario Forecasting (RSF) frame. The RSF is anchored in the cost-benefit analysis; thus, it provides decision-makers with a quantitative mean of assessing the transport infrastructure project. First, the RSF method introduces uncertainties within the CBA by applying Optimism Bias uplifts...