Communicating Information to Risk Managers: The Interactive Phase

1987 ◽  
pp. 573-580
Author(s):  
Rex V. Brown
Keyword(s):  
Risk Managers

Reports on Recent Activities of European Food Safety Authority

2019 ◽  
Vol 30 (5) ◽  
pp. 217-220
Keyword(s):  
Pesticide Residues ◽  
Food Products ◽  
Sampling Procedure ◽  
Control Programme ◽  
The European Union ◽  
Eu Member States ◽  
Official Control ◽  
National Programmes ◽  
Control Programmes ◽  
Risk Managers

This report provides an overview of the 2017 official control activities on pesticide residues carried out in the European Union (EU) Member States, Iceland and Norway. It summarises the results of both the 2017 EU-coordinated control programme (EUCP) and the national control programmes (NP). While the NPs are mostly risk based (so called enforcement samples) focusing on pesticides or products originating from countries where a number of exceedances have been observed in the past, the EUCP aims to present a statistically representative snapshot of the situation of pesticide residues in food products that are mostly consumed in the EU following a random sampling procedure. The report includes the outcome of a dietary risk assessment based on the results of the overall 2017 control programmes. The comprehensive analysis of the results of all reporting countries provides risk managers with sound-based evidence for designing future monitoring programmes, in particular for taking decisions on which pesticides and food products should be targeted in risk-based national programmes.

scholarly journals Multivariate Tail Moments for Log-Elliptical Dependence Structures as Measures of Risks

Symmetry ◽  
2021 ◽  
Vol 13 (4) ◽  
pp. 559
Author(s):  
Zinoviy Landsman ◽  
Tomer Shushi
Keyword(s):  
Risk Measures ◽  
Short Paper ◽  
Dependence Structure ◽  
Elliptical Distributions ◽  
Tail Conditional Expectation ◽  
Special Cases ◽  
Optimal Portfolio Selection ◽  
Multivariate Risk Measures ◽  
Elliptical Models ◽  
Risk Managers

The class of log-elliptical distributions is well used and studied in risk measurement and actuarial science. The reason is that risks are often skewed and positive when they describe pure risks, i.e., risks in which there is no possibility of profit. In practice, risk managers confront a system of mutually dependent risks, not only one risk. Thus, it is important to measure risks while capturing their dependence structure. In this short paper, we compute the multivariate risk measures, multivariate tail conditional expectation, and multivariate tail covariance measure for the family of log-elliptical distributions, which captures the dependence structure of the risks while focusing on the tail of their distributions, i.e., on extreme loss events. We then study our result and examine special cases, as well as the optimal portfolio selection using such measures. Finally, we show how the given multivariate tail moments can also be computed for log-skew elliptical models based on similar approaches given for the log-elliptical case.

scholarly journals Research for Risk Management of Construction Projects in Taiwan

2021 ◽  
Vol 13 (4) ◽  
pp. 2034
Author(s):  
Chien-Liang Lin ◽  
Bey-Kun Chen
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Structural Equation ◽  
Construction Projects ◽  
Construction Project ◽  
Equation Modeling ◽  
Analysis Model ◽  
Sustainable Operation ◽  
Management Procedure ◽  
Risk Managers

Risks inevitably exist in all stages of a project. In a construction project, which is highly dynamic and complex, risk factors affect the expected achievement rates of the three main performance goals, namely schedule, cost, and quality. A comprehensive risk management procedure requires three crucial steps: risk confirmation, analysis, and treatment. Risk analysis is the core of risk management. Through structural equation modeling, this study developed a risk analysis model that takes a different perspective and considered the occurrence probability of risk events and the extent to which these events affect a project. The contractor dimension was discovered to exert the strongest influence on an overall project, followed by the subcontractor and design dimensions. This paper proposes a novel construction project risk analysis model, which considers the entire project. The proposed model can be used as a reference for risk managers to make decisions about project risks, so as to achieve the ultimate goal of saving resources and the sustainable operation of the construction project.

scholarly journals Risk Management Culture as a Systematic Method for Ensuring Safety Development

2019 ◽  
Vol 8 (4) ◽  
pp. 8652-8657
Keyword(s):  
Risk Management ◽  
Development Strategy ◽  
Management System ◽  
Market Conditions ◽  
Systematic Method ◽  
Management Culture ◽  
Risk Management System ◽  
Risk Managers

Issues of developing a culture of risk management, today is perhaps one of the most significant in risk management. The lack of a well-built risk management culture is for many companies, one of the main barriers to building an effective risk management system. It should be understood that all methods that are used to manage risk are as effective as the culture of risk management in the organisation. It depends on the culture of risk management how secure the organisation can feel as part of its development strategy. The development of a risk management culture, in contrast to increasing the costs of expanding the risk management department, is an intensive way to increase the effectiveness of the risk management system and, as a result, provide the possibility of safe development under any market conditions and challenges. By cultivating a risk management culture for the entire hierarchy of employees, you can achieve much better results than simply hiring expensive risk managers.

scholarly journals Interactions between risk assessors and risk managers during three major food incidents in Europe

2021 ◽  
Author(s):  
M. Focker ◽  
B. H. P. Borne ◽  
M. Fischer ◽  
E. Schuh ◽  
A. Mader ◽  
...  
Keyword(s):  
Major Food ◽  
Risk Managers

scholarly journals CONSTRUCTION AND APPLICATION OF THE CLASSIFICATION SCHEME OF DYNAMIC RISK MEASURES ESTIMATING

2016 ◽  
Vol 5 ◽  
pp. 67-80 ◽  
Author(s):  
Nataly Zrazhevska
Keyword(s):  
Value At Risk ◽  
Classification Scheme ◽  
Risk Measures ◽  
Estimation Method ◽  
Daily Basis ◽  
Stock Index ◽  
Dynamic Risk Measures ◽  
Dynamic Risk ◽  
Risk Managers

The most popular methods for dynamic risk measures – Value-at-Risk (VaR) and Conditional VaR (CVaR) estimating were analyzed, description and comparative analysis of the methods were fulfilled, recommendations on the use were given. Results of the research were presented in the form of a classification scheme of dynamic risk measures estimating that facilitates the choice of an estimation method. The GARCH-based models of dynamic risk measures VaR and CVaR evaluation for artificially generated series and two time series of log return on a daily basis of the most well-known Asian stock indexes Nikkey225 Stock Index and CSI30 were constructed to illustrate the effectiveness of the proposed scheme. A qualitative analysis of the proposed models was conducted. To analyze the quality of the dynamic VaR estimations the Cupets test and the Cristoffersen test were used. For CVaR estimations the V-test was used as quality test. The tests results confirm the high quality of obtained estimations. The proposed classification scheme of dynamic risk measures VaR and CVaR estimating may be useful for risk managers of different financial institutions.

scholarly journals An Ontological and Semantic Foundation for Safety and Security Science

2019 ◽  
Author(s):  
Peter Blokland ◽  
Genserik Reniers
Keyword(s):  
Security Risk ◽  
Industrial Parks ◽  
Precise Understanding ◽  
Management Guidance ◽  
Iso 31000 ◽  
Etiological Study ◽  
To Come ◽  
Risk Managers ◽  
Common Understanding ◽  
Security Science

When discussing the concepts of risk, safety, and security, people have an intuitive understanding of what these concepts mean, and, to a certain level, this understanding is universal. However, when delving into the real meaning of these concepts, one is likely to fall into semantic debates and ontological discussions. In industrial parks, it is important that (risk) managers from dierent companies, belonging to one and the same park, have the same understanding of the concepts of risk, safety, and security. It is even important that all companies in all industrial parks share a common understanding regarding these issues. As such, this paper explores the similarities and dierences behind the perceptions of these concepts, to come to a fundamental understanding of risk, safety, and security, proposing a semantic and ontological ground for safety and security science, based on an etymological and etiological study of the concepts of risk and safety. The foundation has been induced by the semantics used in the ISO 31000 risk management guidance standard. Hence, this article proposes a coherent, standardized set of concepts and definitions with a focus on the notion “objectives” that can be used as an ontological foundation for safety and security science, linking “objectives” with the concepts of safety, security, risk, performance and also failure and success, theoretically allowing for an increasingly more precise understanding and measurement of (un)safety across the whole range of individuals, sectors and organizations, or even society as a whole.

scholarly journals FORMATION OF СREATIVE ORGANIZATION IN THE GLOBAL INFORMATION ENVIRONMENT

2017 ◽  
Vol 16 (2 (2017)) ◽  
pp. 184-196
Author(s):  
Vitalina Kurylyak ◽  
Bogdan Litovchenko
Keyword(s):  
Organizational Culture ◽  
Business Models ◽  
Virtual Organizations ◽  
Creative Economy ◽  
Risk Modeling ◽  
Business Units ◽  
Creativity Support ◽  
High Level ◽  
Strategic Perspective ◽  
Risk Managers

The concept of organization as an organistical system facing the challenges of the creative economy is considered. It is grounded that the ideal creative organization with a high level of information will represent a certain symbiosis between organic and anarchic culture in the future. It is identified that with the emergence of virtual organizations, traditional elements of the organizational culture lose their value, while the informational technologies create opportunities for communication and collaboration, regardless of distance and borders. Thus, the basis for the virtual organizations creates their adaptability and transferability. Key requirements regarding the creative industry management organization are singled out as following: proactivity, strategic perspective, innovation, initiation of risk, modeling, experimentation and creativity, support of the independent business units’ coordination. The model of organizations’ types, which should reflect their organistical nature, strategic perspective and attitude to risk is presented. The main barriers that limit the ability of organizations to creativity – the lack of the innovative organizational culture as well as the lack of professional risk managers and analysts are outlined. However, these features have not yet organically become peculiar by creative organizations, requiring the development of the appropriate business models culture.

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