scholarly journals Mining Business Risk Management

2020 ◽  
Vol 174 ◽  
pp. 04043
Author(s):  
Olena Kozyrieva ◽  
Veronika Khudolei ◽  
Valentina Vyhovska ◽  
Maksym Zabashtanskyi ◽  
Andrii Rogovyi
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Human Error ◽  
Occupational Safety ◽  
Mining Industry ◽  
Quantitative Risk Assessment ◽  
Occupational Accidents ◽  
Investment Projects ◽  
Management Standards ◽  
Mining Investment

In the mining industry, as a dangerous industry related to the specifics of its production, in particular, the process of risk management and analysis should be taken into account. One of the main reasons of occupational accidents, in addition to human error and technical failures, is the lack of foresight of possible accidental events, and the lack of assessment by a company of the risks associated with occupational safety. The article considers the main risks in the mining industry, analyses the problems of modern systems of risk assessment and management of mining investment projects, methods and sequence of qualitative and quantitative risk assessment, provides recommendations for their improvement in order to bring them in line with international risk management standards.

scholarly journals Approaches to the assessment the innovation-and-investment projects within the system of “Smart City” criteria

2019 ◽  
Vol 97 ◽  
pp. 01022
Author(s):  
Tatyana Miroshnikova ◽  
Natalia Taskaeva
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Life Cycle ◽  
Smart City ◽  
Quantitative Risk Assessment ◽  
Modern Approach ◽  
Investment Projects ◽  
Construction Companies ◽  
Construction Organizations ◽  
The Impact

The article clarifies the understanding of modern approaches to risk management in construction organizations. The authors have formed a classification of the sources of risks in construction and the reasons causing the uncertainty of the conditions of operation of construction companies. The researchers identified factors that require control in the construction industry. The authors offer, that “smart city” assumes six criteria, including smart economy, smart mobility, smart environment, smart people, smart living, smart governance. The consideration of the tendency to innovations and the assessment of innovation-and-investment risks within the concept “Smart city” was carried out for the Russian practice for the first time. The risk assessment is offered to be carried out with the use of the modern approach. The proposed approach to improve risk management, according to which all the basic processes of risk management should be carried out at each stage of the life cycle of a construction object. The authors propose to use certain methods of qualitative and quantitative risk assessment, enshrined in the risk management standard, at the appropriate stages of the life cycle of a construction object in terms of their advantages. This will increase the effectiveness of risk management and minimize the impact of risk factors identified by researchers on the performance of construction organizations. Research of risk management systems allowed us to determine the priorities and problems of construction companies in the field of risk management and increase its efficiency.

Development of Risk Assessment Methodology for Occupational Safety in Using Work Observation Technique

2012 ◽  
Author(s):  
Takeshi Shinoda ◽  
Takashi Tanaka
Keyword(s):  
Risk Assessment ◽  
Working Conditions ◽  
Occupational Safety ◽  
Occupational Accidents ◽  
Assessment Procedure ◽  
Assessment Methodology ◽  
Quantitative Methodology ◽  
The Past ◽  
Walking Environment ◽  
Risk Assessment Methodology

It is a challenge to prevent an occupational accident in any industrial activities. The aim of this study is to improve the safety and reduce the risk of occupational accidents at shipyard through developing a risk assessment. This paper describes the concept and methodology of risk assessment for occupational safety and its application. The methodology introduces an effective and useful assessment procedure to construct the database based on the past occupational accidents occurred at shipyards. Quantitative methodology is developed to understand the unsafe working conditions and environment at the shipyard by the convenient handheld to collect the data with Information Technology. Some examples of effective hazard countermeasures are suggested and a feasibility study is conducted to improve a walking environment at shipyards.

scholarly journals Investment Risk Management at Mining Enterprises

2019 ◽  
Vol 105 ◽  
pp. 01054
Author(s):  
Victoria Frolova ◽  
Olga Dolina ◽  
Tatyana Shpilkina
Keyword(s):  
Risk Management ◽  
Quantitative Methods ◽  
Raw Materials ◽  
Mining Industry ◽  
Road Construction ◽  
Simulation Method ◽  
Investment Risk ◽  
Geological Exploration ◽  
Maximum Information ◽  
Investment Projects

The development of the Russian economy requires an increase in production factors, including energy, fuel and raw materials. Sustainable functioning of mining enterprises has an impact on the development of such industries as metallurgy, engineering, road construction and predetermines the development of the country’s economy as a whole. The article substantiates the need to form an investment risk management system in the mining industry to encourage expansion of environment-saving measures funding. The stages of investment risk management are proposed and their content is disclosed. The most significant types of investment risks and uncertainties in assessing geological exploration investment projects in the mining industry are considered. The recommendations for considering the factors of uncertainty and risk when evaluating the effectiveness of environmental and geological exploration investment projects to use maximum information about the conditions for the implementation of projects. For risk assessment, various qualitative and quantitative methods have been proposed, and the advantages of the Monte-Carlo simulation method are shown.

Risk Management Model in Surface Exploitation of Mineral Deposits

2016 ◽  
Vol 61 (2) ◽  
pp. 293-308
Author(s):  
Cvjetko Stojanović
Keyword(s):  
Risk Management ◽  
Adverse Events ◽  
Management System ◽  
Mining Industry ◽  
Investment Project ◽  
Management Model ◽  
Structural Element ◽  
Investment Projects ◽  
Risk Management System ◽  
Mining Projects

Abstract Risk management is an integrative part of all types of project management. One of the main tasks of pre-investment studies and other project documentation is the tendency to protect investment projects as much as possible against investment risks. Therefore, the provision and regulation of risk information ensure the identification of the probability of the emergence of adverse events, their forms, causes and consequences, and provides a timely measures of protection against risks. This means that risk management involves a set of management methods and techniques used to reduce the possibility of realizing the adverse events and consequences and thus increase the possibilities of achieving the planned results with minimal losses. Investment in mining projects are of capital importance because they are very complex projects, therefore being very risky, because of the influence of internal and external factors and limitations arising from the socio-economic environment. Due to the lack of a risk management system, numerous organizations worldwide have suffered significant financial losses. Therefore, it is necessary for any organization to establish a risk management system as a structural element of system management system as a whole. This paper presents an approach to a Risk management model in the project of opening a surface coal mine, developed based on studies of extensive scientific literature and personal experiences of the author, and which, with certain modifications, may find use for any investment project, both in the mining industry as well as in investment projects in other areas.

scholarly journals Operational Control in the Process Safety Assurance

2019 ◽  
Vol 1 (1) ◽  
pp. 126-131
Author(s):  
Tatiana Karkoszka
Keyword(s):  
Risk Management ◽  
Occupational Safety ◽  
Safety Management ◽  
Negative Influence ◽  
Occupational Accidents ◽  
Process Safety ◽  
Operational Control ◽  
Monitoring And Control ◽  
Safety Assurance ◽  
Effective Manner

AbstractThe need of ensure the safety in the realised industrial processes results directly from their negative influence both on environment and workers’ health, and, as a result – the associated material losses. Safety management must be based on the risk management, results of which are the basis of risk acceptability assessment and taking action of the systemic character directed on risk minimisation. Those actions should guarantee technical condition of the used technological installations and monitoring and control equipment as well as organisational solutions, which in the effective manner are going to minimise the probability of occurrence of environmental and occupational accidents, and – in the case of their occurrence – minimise the influences. Therefore research on the practical solutions of process safety assurance, both in the regular conditions of work and in the time of the emergency are of the crucial meaning. That is why the value of the paper is being constituted by the authorial model of operational control, which aim is to guarantee the process safety from the perspective of the both: technical and occupational safety. The worked out model is the systemic tool giving the guidelines of operational management and allowing for the homogeneous management in the range of environmental safety and occupational safety and on the basis of – being the fundamental element of the model – risk management. The worked out model can be implemented in case of any organisation which wants to assure the safety of the realised processes by risk and system management.

scholarly journals Current Issues in Assessment of Risks Related to Investment Projects

2018 ◽  
Vol 7 (3.15) ◽  
pp. 336 ◽  
Author(s):  
Alexander Sergeevich Voronov ◽  
Mikhail Vladimirovich Karmanov ◽  
Irina Anatolievna Kiseleva ◽  
Vladimir Ivanovich Kuznetsov ◽  
Lidia Sergeevna Leontieva
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Investment Project ◽  
Investment Projects ◽  
Project Valuation ◽  
Analysis Methods ◽  
Project Risks ◽  
Capm Model ◽  
Definition Of

The definition of the essence of an object of management in economics is an indispensable component of professional risk management. Since the national risk management theory is just being formed, the need to find a clear and comprehensive definition for the notion "risks" is especially topical. Capital valuation is one of the most important issues, which needs to be solved by companies during ROI studies. This article makes an attempt to study the role of risk management in the implementation of investment projects. The main purpose of this article is to identify the main regularities which determine the peculiarities of risk assessment in business, being the key element facilitating the organization of investment projects. The objectives have been as follows: to review the basic concepts of risk management; to study its components in business; to reflect the system and risk management principles, and to carry out risk assessment; to consider the main kinds of risks in the business area.The article describes various types of investment and project risks, risk analysis methods for investment projects, as well as efficiency indicators of investment projects, and provides an analysis of risk factors and uncertainties during the development of investment projects. The peculiarities of the practical use of project risks’ analysis methods have been studied. Risk assessment methods for an investment project help evaluate its feasibility, the time within which it will start being profitable, as well as the probabilistic volume of its future profits. Investment project valuation models have been analyzed, in particular, the CAPM model for emerging capital markets. The DCF method has been studied, being the base for assessing the attractiveness of business in general and a company's investment project in particular.  

Implementation of Quantitative Risk Assessment: Case Study

2014 ◽  
Author(s):  
David Mangold ◽  
W. Kent Muhlbauer ◽  
Jim Ponder ◽  
Tony Alfano
Keyword(s):  
Risk Assessment ◽  
Decision Making ◽  
Risk Management ◽  
The United States ◽  
Management Program ◽  
Quantitative Risk Assessment ◽  
Management Decision ◽  
Classical Statistics ◽  
Wide Range

Risk management of pipelines is a complex challenge due to the dynamic environment of the real world coupled with a wide range of system types installed over many decades. Various methods of risk assessment are currently being used in industry, many of which utilize relative scoring. These assessments are often not designed for the new integrity management program (IMP) requirements and are under direct challenge by regulators. SemGroup had historically used relative risk assessment methodologies to help support risk management decision-making. While the formality offered by these early methods provided benefits, it was recognized that, in order to more effectively manage risk and better meet the United States IMP objectives, a more effective risk assessment would be needed. A rapid and inexpensive migration into a better risk assessment platform was sought. The platform needed to be applicable not only to pipeline miles, but also to station facilities and all related components. The risk results had to be readily understandable and scalable, capturing risks from ‘trap to trap’ in addition to risks accompanying each segment. The solution appeared in the form a quantitative risk assessment that was ‘physics based’ rather than the classical statistics based QRA. This paper will outline the steps involved in this transition process and show how quantitative risk assessment may be efficiently implemented to better guide integrity decision-making, illustrated with a case study from SemGroup.

Industry Process Safety

2020 ◽  
pp. 117-151
Author(s):  
Ales Bernatik
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Technical Progress ◽  
Accident Prevention ◽  
Quantitative Risk Assessment ◽  
Process Safety ◽  
Industrial Accidents ◽  
New Approaches ◽  
Industrial Companies ◽  
Major Accident

This chapter deals with the issue of process safety in industrial companies and major accident prevention. In the present-day technologically advanced world, industrial accidents appear ever more frequently, and the field of major accident prevention has become a dynamically developing discipline. With accelerating technical progress, risks of industrial accidents are to be reduced. In the first part, possible approaches to quantitative risk assessment are presented; and continuing it focuses on the system of risk management in industrial establishments. This chapter aims at providing experiences, knowledge, as well as new approaches to the prevention of major accidents caused by the implementation of the Seveso III Directive.

scholarly journals Review and Improvement of Chemical Hazard Risk Management of Korean Occupational Safety and Health Agency

2021 ◽  
Vol 18 (17) ◽  
pp. 9395
Author(s):  
Saemi Shin ◽  
Sang-Hoon Byeon
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Occupational Safety ◽  
Health Agency ◽  
Occupational Safety And Health ◽  
Risk Levels ◽  
Hazard Risk ◽  
Safety And Health ◽  
Chemical Hazard ◽  
Hazard Risk Management

In 2012, the Korean Occupational Safety and Health Agency developed Chemical Hazard Risk Management (CHARM) as a risk assessment tool. This study aims to reorganize the CHARM technique by complementing its logical loopholes, while evaluating the risk to enterprises and verifying this technique by applying it to some enterprises in Korea. The optimized technique changed the method of quantitative assessment and evaluation criteria, matched the risk level with the required control level, and specified the use of control practice. For the target enterprises, for several assessment methods, risk levels, hazard bands, exposure bands, and the risk assessment results were derived, and the same types of options were compared. Fewer informational methods resulted in more conservative results of risk levels and hazard bands. Since the control status of the enterprises could not be confirmed and the substances handled at the target enterprises were limited in this study, a follow-up study should be performed with more target materials and additional information on the current control status of the enterprises.

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