Uncertainty Analysis: An Essential Component of Risk Assessment and Risk Management

1991 ◽  
pp. 241-249
Author(s):  
Rick Tyler ◽  
Obed Odoemelam ◽  
Paul Shulec ◽  
Michael Marchlik
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Uncertainty Analysis ◽  
Essential Component

MODELLING AND CONTROLLING THE ENTERPRISE RISKS COMPLEX ASSESSMENT SYSTEMON THE BASIS OF RUSSIAN STATE STANDARD ISO 9001-2015 CONCERNING RISK-ORIENTED THINKING. GENERAL PROBLEMS AND WAYS OF SOLVING THEM

2020 ◽  
Vol 2020 (2) ◽  
pp. 33-41
Author(s):  
Irina Merzlyakova ◽  
Aleksandr Feofanov
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
State Standard ◽  
Control Model ◽  
Enterprise Risk Management ◽  
Iso 9001 ◽  
Management Procedure ◽  
Russian State Standard ◽  
Russian State ◽  
Enterprise Risk

The article considers general problems of implementing the enterprise risk management procedure. One of the ways to solve the problems arising when meeting Russian state standard ISO 9001-2015 requirements concerning risk-oriented thinking is presented. A risk assessment control model aimed at coordinating all kinds of the enterprise departments activities, forming a clear algorithm of risk management procedure implementation and attracting a greater number of employees towards this activity is offered.

The prospects of occupational risk management during reforms of regulatory legislation basis

2019 ◽  
pp. 39-44 ◽  
Author(s):  
Vadim B. Alekseev ◽  
Nina V. Zaitseva ◽  
Pavel Z. Shur
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Social Insurance ◽  
Well Being ◽  
Occupational Risk ◽  
Risk Level ◽  
Federal Law ◽  
Work Safety ◽  
Risk Levels ◽  
Legal Principles

Despite wide legislation basis of regulating relations in work safety and workers’ health, one third of workplaces demonstrate exceeded allowable normal levels of workers’ exposure to occupational hazards and present occupational risk for health disorders.In accordance to national legislation acts, evaluation should cover factors of occupational environment and working process, and occupational risk is understood in context of mandatory social insurance. This approach has been formed due to mostly compensatory trend in legal principles of work safety in Russia by now. Implementation of new preventive concept of work safety, based on idea of risk management for workers, necessitates development of legal acts that regulate requirements to evaluation of occupational risk and its reports with consideration of changes in Federal Law on 30 March 1999 №52 FZ “On sanitary epidemiologic well-being of population”.Those acts can include Sanitary Rules and Regulations “Evaluation of occupational risk for workers’ health”, that will contain main principles of risk assessment, requirements to risk assessment, including its characteristics which can serve as a basis of categorizing the risk levels with acceptability.To standardize requirements for informing a worker on the occupational risk, the expediency is specification of sanitary rules “Notifying a worker on occupational risk”. These rules should contain requirements: to a source of data on occupational risk level at workplace, to informational content and to ways of notifying the worker. Specification and implementation of the stated documents enable to fulfil legal requirements completely on work safety — that will provide preservation and increase of efficiency in using work resources.

Aplication of Quantitative and Qualitative Methods in Risk Management of Credit Portfolio in the Conditions of the Banking System of the Republic of Tajikistan

2013 ◽  
Vol 8 (3) ◽  
pp. 249-268
Author(s):  
Basgul Fajzullohonovna Isupova
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Qualitative Methods ◽  
Banking System ◽  
Potential Losses ◽  
The Republic ◽  
Credit Portfolio ◽  
Quantitative And Qualitative Methods ◽  
Coefficient Method

In this article, an analysis of the fundamental methods of risk assessment and risk management of credit portfolio is conducted. In particular, complex and qualitative methods of risk management of credit portfolio studied in details, namely analytical, statistical and coefficient methods. Based on the coefficient method the author proposes a number of standards for the assessment of potential losses in credit activity. 

scholarly journals An Approach to Sustainability Risk Assessment in Industrial Assets

2021 ◽  
Vol 13 (12) ◽  
pp. 6538
Author(s):  
Fco. Javier García-Gómez ◽  
Víctor Fco. Rosales-Prieto ◽  
Alberto Sánchez-Lite ◽  
José Luis Fuentes-Bargues ◽  
Cristina González-Gaya
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Asset Management ◽  
Analysis And Evaluation ◽  
The People ◽  
Preliminary Study ◽  
Assessment Procedures ◽  
Identification Analysis ◽  
A Company ◽  
Industrial Company

Asset management, as a global process through which value is added to a company, is a managerial model that involves major changes in strategies, technologies, and resources; risk management; and a change in the attitude of the people involved. The growing commitment of companies to sustainability results in them applying this approach to all their activities. For this reason, it is relevant to develop sustainability risk assessment procedures in industrial assets. This paper presents a methodological framework for the inclusion of sustainability aspects in the risk management of industrial assets. This approach presents a procedure to provide general criteria, methodology, and essential mandatory requirements to be adopted for the identification, analysis, and evaluation of sustainability aspects, impacts, and risks related to assets owned and managed by an industrial company. The proposed procedure is based on ISO 55,000 and ISO 31,000 standards and was developed following three steps: a preliminary study, identification of sustainability aspects and sustainability risks/opportunities, and impact assessment and residual risks management. Our results could serve as a model that facilitates the improvement of sustainability analysis risks in industrial assets and could be used as a basis for future developments in the application of the standards to optimize management of these assets.

scholarly journals Vessel Traffic Risk Assessment Based on Uncertainty Analysis in the Risk Matrix

Algorithms ◽  
2018 ◽  
Vol 11 (5) ◽  
pp. 60
Author(s):  
Molin Sun ◽  
Zhongyi Zheng
Keyword(s):  
Risk Assessment ◽  
Uncertainty Analysis ◽  
Risk Matrix

scholarly journals Improving risk assessment by defining consistent and reliable system scenarios

2009 ◽  
Vol 9 (1) ◽  
pp. 145-159 ◽  
Author(s):  
B. Mazzorana ◽  
J. Hübl ◽  
S. Fuchs
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Sediment Transport ◽  
Scenario Analysis ◽  
Scenario Planning ◽  
Control Measures ◽  
Hazard Mapping ◽  
System Response ◽  
Potential System ◽  
Formative Scenario Analysis

Abstract. During the entire procedure of risk assessment for hydrologic hazards, the selection of consistent and reliable scenarios, constructed in a strictly systematic way, is fundamental for the quality and reproducibility of the results. However, subjective assumptions on relevant impact variables such as sediment transport intensity on the system loading side and weak point response mechanisms repeatedly cause biases in the results, and consequently affect transparency and required quality standards. Furthermore, the system response of mitigation measures to extreme event loadings represents another key variable in hazard assessment, as well as the integral risk management including intervention planning. Formative Scenario Analysis, as a supplement to conventional risk assessment methods, is a technique to construct well-defined sets of assumptions to gain insight into a specific case and the potential system behaviour. By two case studies, carried out (1) to analyse sediment transport dynamics in a torrent section equipped with control measures, and (2) to identify hazards induced by woody debris transport at hydraulic weak points, the applicability of the Formative Scenario Analysis technique is presented. It is argued that during scenario planning in general and with respect to integral risk management in particular, Formative Scenario Analysis allows for the development of reliable and reproducible scenarios in order to design more specifically an application framework for the sustainable assessment of natural hazards impact. The overall aim is to optimise the hazard mapping and zoning procedure by methodologically integrating quantitative and qualitative knowledge.

The measurement problem of calibration of measuring instrument under specified conditions

2021 ◽  
pp. 9-15
Author(s):  
Sergey F. Levin
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Measurement Problem ◽  
Parametric Identification ◽  
Correction Function ◽  
Measuring Instruments ◽  
Measuring Instrument ◽  
Mathematical Apparatus ◽  
Second Stage ◽  
Assessment Techniques

The problem of calibration of measuring instruments for given conditions based on the correction function is considered as a measurement problem of structural-parametric identification of the calibration diagram. It is shown, that the correction function allows at the first stage to obtain a ratio for correcting the readings, and at the second stage to obtain a corrected measurement result, it is necessary to identify the probability distribution of possible deviations from it. An example of solving the measurement problem of calibration for given conditions is given. Negative aspects of the practice of calibration of measuring instruments are noted: carrying out calibration under normal conditions according to the methods of verification of measuring instruments; presentation of calibration results by tables of joint readings of measuring instruments and standards; the presence in the calculations of the calibration diagram of significant restrictions on the mathematical apparatus of the «Guidelines for the expression of measurement uncertainty», specified by ISO/IEC 31010:2019 “Risk management – Risk assessment techniques”.

Ecological Models for Risk Assessment/Risk Management

1991 ◽  
pp. 635-642
Author(s):  
Rufus Morison ◽  
David Mauriello ◽  
Richard A. Park
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Ecological Models
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