Best Practices in Related Risk Management Activities

2013 ◽  
pp. 281-290
2011 ◽  
Vol 1 (2) ◽  
pp. 103-109 ◽  
Author(s):  
Simon Stewart ◽  
Floor Koornneef ◽  
Roland Akselsson

For many years, fatigue-related risk has been recognized as a significant issue for aircraft operators. The International Civil Aviation Organization (ICAO) states that a basic building block underlying the process of managing safety is “sharing safety lessons learned and best practices through the active exchange of safety information.” An example of this organized active exchange is the global Fatigue Risk Management System (FRMS) Forum which was launched in 2009 and includes 65 organizations (2011) (regulators, airline operators, and academic institutions). The Forum is apolitical and facilitates better communication between these bodies. New information from the ICAO and European Aviation Safety Agency (EASA) cites the fact that operators can no longer interpret binary compliance with prescriptive flight time limitations as ensuring “legality” or safety. This paper describes how the FRMS Forum can help.


2021 ◽  
Vol 27 (4) ◽  
Author(s):  
Siegfried Schmitt

Regulations worldwide tell us that a Pharmaceutical Quality System has to be risk-based. In reviewing best practices and ICH Q9 guidelines on QRM, the author shares insights on what not to do, using examples the author has come across over the more than 30 years in industry.


2021 ◽  
Vol 26 (3) ◽  
pp. 79-86
Author(s):  
Agnieszka JĘDRUSIK

The purpose of this article is to present the process of risk management in project management. The analysis was based on a comparison of two best practices of IPMA and PRINCE. Risk management differs significantly between the two approaches, but it is up to the organization to choose its own management, monitoring and methodology tailored to the specific industry or sector. Risk management is an important aspect of the entire project life cycle and must be monitored throughout the project life cycle to protect not only the budget but all areas of the so-called "golden triangle". A very important aspect is the organization's awareness that risk management is everyone's responsibility, not just the project manager. This paper presents two different approaches to project risk management in two different methodologies.


2021 ◽  
Vol 16 (2) ◽  
pp. 10-20
Author(s):  
Nicoletta Figurelli ◽  
◽  
Carlo Frazzei ◽  
Alessandro Garufi ◽  
Tommaso Giordani ◽  
...  

Following the publication of the regulatory framework for the Fundamental Review of the Trading Book (FRTB) by both the Basel Committee (BCBS) and the EU Regulator, the Financial Institutions have started the mandatory actions to comply with the new regulatory requirements. This article aims to provide an overview of the key challenges that banks have had to face in recent years, with a particular focus on the most significant methodological key points and the main impacts on business from the technicalities of the new regulatory framework, in order to provide guidelines and best practices on Standardized Approach (SA) topics shared between Risk Management and Front Office


2013 ◽  
pp. 1422-1436
Author(s):  
Stig O. Johnsen

This chapter describes vulnerabilities related to safety and security in distributed process control systems integrated with information and communication technology (ICT). The author describe key vulnerabilities and how to mitigate these vulnerabilities by current best practices, which have worked in an industrial setting in Norway. Distributed process control systems are denoted as SCADA systems, i.e. supervisory control and data acquisition systems. Increased networking and increased use of ICT impacts the complexity and vulnerability of the SCADA systems. To improve safety and security, there must be a focus on systematic knowledge generation between ICT and process experts and a focus on exploring resilience as a strategy to manage risks and support continuity of operations (resilience seen as the ability to bounce back and sustain operations). Best practices in risk management in this area are to establish policies, improve risk awareness, perform risk assessment in collaboration between ICT and SCADA professionals, focus on segregation of networks, focus on active protection against malicious software, improve reporting and sharing of incidents, and establish and explore disaster/recovery plans. In addition, there should be focus on certification and testing of components in ICT and SCADA systems and improvement of resilience to mitigate uncertainty and complexity.


2020 ◽  
Vol 53 (3) ◽  
pp. 466-471
Author(s):  
Jonny Neville ◽  
Christopher Power ◽  
Tim Spink ◽  
David Grant ◽  
David Patterson

As part of a coordinated programme of knowledge improvement tasks, Highways England commissioned Mott MacDonald to research, develop and implement a series of maps to communicate clearly the threat posed by ground-related hazards to the Strategic Road Network (SRN) of England. Events associated with a number of hazards have occurred in the recent past. Understanding the presence, and relative likelihood of occurrence, of these hazards over the 7000 km of the SRN is an essential risk management activity. The maps draw on readily available data sources held on the Geotechnical Data Management System of Highways England (HAGDMS) and have been deliberately created to be open and simple, to convey the hazards to users who may not be specialists in engineering geology. This paper presents the development, validation and application of the hazard maps.Thematic collection: This article is part of the Ground-related risk to transportation infrastructure collection available at: https://www.lyellcollection.org/cc/Ground-related-risk-to-transportation-infrastructure


2018 ◽  
Vol 7 (4) ◽  
pp. 322
Author(s):  
A.A DWI MARSITA ANGGRAENI ◽  
KOMANG DHARMAWAN ◽  
DESAK PUTU EKA NILAKUSMAWATI

Temperature is an important factor in the production of agricultural commodities. For this reason, goverments needs to protect farmers in order to continue their farming. Climate-based agricultural insurance is an alternative to climate-related risk management. Insurance premium is given when the temperature index lower than the pre determined trigger index. The purpose of this study is to determine the stages and assumptions in determining the value of agricultural insurance premiums based on surface temperature index on cocoa commodities using the method of burn analysis. The temperature index was determined using the burn analysis method with the temperature as the climate parameter. Trigger values ??are determined based on long run times. In this paper, the result is that when the temperature index lower than the determined trigger value, trigger payments as much as Rp.10.931.960,40 / Ha based on trigger index as many 26.145 ° C, so amount of premium payment equals Rp 215.776.


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