scholarly journals The place of artificial intelligence in the risk management process

2021 ◽  
Vol 120 ◽  
pp. 02013
Author(s):  
Petya Biolcheva
Keyword(s):  
Artificial Intelligence ◽  
Risk Assessment ◽  
Risk Management ◽  
Real Time ◽  
Risk Identification ◽  
Management Process ◽  
Whole Process ◽  
Risk Management Process ◽  
Problematic Issue ◽  
The Individual

In recent years, there has been increasing talk of the rapid entry of artificial intelligence into risk management. All the benefits it would bring over the whole process are often commented on: real-time results, processing large amounts of data, more complete risk identification, more accurate risk assessment, etc. There are also negative moods that make various experts feel threatened by their need to be replaced by artificial intelligence. Another problematic issue that arises is related to the transparency of algorithms and the increase in cyber risks [6]. This material aims to identify the individual elements at the stages of risk management in which artificial intelligence (AI) can and should be applied alone, in combination with expert opinion or not. Here it is shown that because of the use of AI the efficiency of the whole process is significantly increased, first of all by conducting in-depth analyses, and the decisions are made by the risk management experts. This proves its usefulness and increases the confidence of experts in it.

scholarly journals Effect of Employees’ Understanding on Risk Management Process on Risk Management: A Case Study in a Non-profit Organisation

2019 ◽  
Vol 10 (3) ◽  
pp. 144
Author(s):  
Erlane K Ghani ◽  
Nor Hamimah Nor Hassin ◽  
Kamaruzzaman Muhammad
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Risk Control ◽  
Risk Identification ◽  
Management Process ◽  
Poor Knowledge ◽  
Non Profit ◽  
Monitoring Process ◽  
Risk Management Process ◽  
Risk Assessment And Analysis

Purpose: This study examines the effect of employees’ understanding of risk management process on knowledge on risk management in a non-profit organisation. Specifically, this study examines the effect of employees’ understanding of risk identification, risk assessment and analysis and, risk control and monitoring on their knowledge on risk management.Design/Methodology/Approach: This study used questionnaire survey on 80 employees of various levels in a non-profit organisation.Findings: This study shows that the most of the employees felt that they have a poor knowledge on risk management. The poor knowledge on risk management is attributed by the all three determinants in this study namely, understanding risk identification, risk assessment and analysis and, risk control and monitoring process on knowledge on risk management.Practical Implications: The findings provide indication that non-profit organisations need to provide awareness programs to their employees in increasing their knowledge on risk management. The findings of this study is essential to the managements to ensure that their employees are well informed and understand risk management and subsequently, take necessary control to reduce risks.Originality/Value: This study provides further understanding on the importance of understanding risk management process on performance.

scholarly journals PENGELOLAAN MANAJEMEN RESIKO GADAI NON-EMAS TIDAK TERTEBUS DI PEGADAIAN SYARIAH CABANG BLAURAN

2020 ◽  
Vol 6 (3) ◽  
pp. 446
Author(s):  
Dyah Palupi Dwi Cahyani ◽  
Muhammad Nafik Hadi Ryandono
Keyword(s):  
Qualitative Research ◽  
Risk Management ◽  
Research Method ◽  
Risk Control ◽  
Risk Identification ◽  
Research Data ◽  
Management Process ◽  
Regional Office ◽  
Risk Ranking ◽  
Risk Management Process

This study is aimed to know the mechanism of risk management in the management of unredeemed non-gold pawn in Blauran Sharia Pawnshop. Through the three phases of risk management that is risk identification, risk ranking, and risk control Blauran Sharia Pawnshop expected can be more minimize the risks, one of them is unredeemed non-gold pawn. The research method used was qualitative. Research data is obtained by doing interview techniques and documentation to the informant that was assistant deputy manager Pawnshop of Surabaya Regional Office, Head of Blauran Surabaya Sharia Pawnshop branch, and staff of Blauran Surabaya Sharia Pawnshop. The research showed that Blauran Sharia Pawnshop has run the risk management process in three ways: risk identification, risk ranking based on potency and the most influential risk, and risk control by conducting auction on non-goldpawning items that were not redeemed.Keyword: Risk Management, sharia mortgage, sharia pawnshop,unreedemed non-gold pawn

A TEST CASE PRIORITIZATION BASED ON DEGREE OF RISK EXPOSURE AND ITS EMPIRICAL STUDY

2011 ◽  
Vol 21 (02) ◽  
pp. 191-209 ◽  
Author(s):  
HOIJIN YOON ◽  
BYOUNGJU CHOI
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Empirical Study ◽  
Risk Exposure ◽  
Test Case ◽  
Test Case Prioritization ◽  
Management Process ◽  
Testing Method ◽  
Risk Management Process ◽  
Prioritization Strategy

We propose a test case prioritization strategy for risk based testing, in which the risk exposure is employed as the key criterion of evaluation. Existing approaches to risk based testing typically employ risk exposure values as assessed by the tester. In contrast, we employ exposure values that have been determined by experts during the risk assessment stage of the risk management process. If a given method produces greater accuracy in fault detection, that approach is considered more valuable for software testing. We demonstrate the value of our proposed risk based testing method in this sense through its application.

scholarly journals IMPLEMENTASI MANAJEMEN RISIKO UNDERWRITING PADA PT ASURANSI JASINDO SYARIAH

2020 ◽  
Vol 7 (5) ◽  
pp. 901
Author(s):  
Wahyu Rofikah ◽  
Dina Fitrisia Septiarini
Keyword(s):  
Risk Management ◽  
Secondary Data ◽  
Risk Identification ◽  
Primary Data ◽  
Management Process ◽  
Snowball Sampling ◽  
Descriptive Case Study ◽  
Risk Monitoring ◽  
Risk Management Process

This study purpose to how the risk management process in PT Asuransi Jasindo Syariah with a case study of vehicle insurance class of business. This research uses a qualitative approach with a descriptive case study strategic. The research data was obtained through primary data in the form of interviews and secondary data. The selection of informants in interviews through snowball sampling techniques and secondary data obtained from supporting data in the form of archives, reports and relevant document and literature reviews related to research. The results of this study indicate that PT Asuransi Jasindo Syariah has a significant role in the process of underwriting risk management, especially in vehicle insurance product, which have the highest loss ratio among other products. The underwriting risk management process carried out by PT Asuransi Jasindo Syariah is risk identification, risk measurement, risk monitoring, and risk control.Keywords: risk management, underwriting, syariah insurance

scholarly journals RISK IDENTIFICATION TOOLS – POLISH MSMES COMPANIES PRACTICES

2013 ◽  
Vol 7 (1) ◽  
pp. 6-11
Author(s):  
Iwona Gorzeń-Mitka
Keyword(s):  
Risk Management ◽  
Key Words ◽  
Qualitative Data ◽  
Small And Medium Enterprises ◽  
Risk Identification ◽  
Management Process ◽  
Management Decisions ◽  
Risk Management Process ◽  
Medium Enterprises

The purpose of this study is to present risk identification tools in Polish micro, small and medium-sized enterprises (MSMEs). Risk identification is a key element of the risk management process in companies. Correctly fitting risk identification tools affect the accuracy of management decisions. The result of research is to identify the leading risk identification tools used by MSMEs. The study was conducted in 2010-2012 using a mixed survey-monographic method and questionnaires. The qualitative data were obtained during the study. Key words: risk management, risk identification, micro, small and medium enterprises (MSMEs).

scholarly journals THE EFFECT OF MANAGING RISK PROCESS IN CONSTRUCTION PROJECTS

2020 ◽  
Vol 5 (4) ◽  
pp. 101-114
Author(s):  
Khanm Noori Kaka HamaAttar
Keyword(s):  
Risk Management ◽  
Construction Projects ◽  
Theoretical Aspect ◽  
Risk Process ◽  
Risk Identification ◽  
Management Process ◽  
Risk Management Process ◽  
Risks Assessment ◽  
Managing Risk ◽  
The Impact

The aim of this study is to get a better understanding for the effect of the set of the risks in the construction projects, in addition to how mitigating these risks in those projects. Indeed risks are frequently playing the same rules, but the nature of project defines the specific risks of the project. The first step in process of risks assessment is identification them. Once risk identification is complete, risk analysis is used to identify the likelihood the risks that have been identified will happen. Thus by using evidence from other research in the area, this study showed the impact of the set of the stages in the risk management process in the construction projects, which were discussed in greater detail in the theoretical aspect of the current study. The findings of the study were revealed the fact that the comprehension of risk and its management has the direct effect of understanding specific issues that involve to the project. In addition to that, the integration of a risk management process at each stage of its stages in construction projects must be oriented to the progress of the project and permeate all areas, functions and processes of the project. In this regard, the most successful project managers maintain open lines of communication throughout their organizations to stay in touch with constituent’s needs.

RISK MANAGEMENT IN PUBLIC PROCUREMENT BY THE LGUS (AS EXEMPLIFIED BY DĄBROWA GÓRNICZA COMMUNE)

2020 ◽  
Vol 21 (3) ◽  
pp. 115-132
Author(s):  
Jarosław Rokicki
Keyword(s):  
Risk Management ◽  
Local Government ◽  
Negative Impact ◽  
Public Procurement ◽  
Management Control ◽  
Management Process ◽  
Control Processes ◽  
Risk Management Process ◽  
The Individual ◽  
Made In

Risk management is an integral part of the management control processes, which is primarily the responsibility of the Manager of local government units. Conscious and structured risk management allows the manager to limit events that may have a negative impact on the implementation of tasks. This is why it is so important to organize a risk management process that ensures the achievement of objectives and tasks. The theoretical settlement made in part one of the article allowed the author, on the basis of internal regulations in the selected Dąbrowa Górnicza commune, to synthetically describe the risk management process and to present the measures and indicators that illustrate the process. Against this background, a formalized risk management process in a commune where a lot of space has been devoted to the risk management process adopted is shown. The responsibilities of the individual employees of the organizations involved in the risk management process have been clearly identified.

Analisis Manajemen Risiko Di Ruang Filing RSUD dr Soediran Mangun Sumarso Wonogiri Tahun 2020

2020 ◽  
Vol 10 (2) ◽  
pp. 12-19
Author(s):  
Nabilatul Fanny ◽  
Anindiya Soviani
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Medical Record ◽  
Safety Management ◽  
Facility Management ◽  
Regional Hospital ◽  
Management Process ◽  
Management Processes ◽  
Risk Management Process ◽  
Risk Treatment

Patient safety is a system that makes patient care safer, including risk assessment, identificationand management of patient risks, incident reporting and analysis, the ability to learn from incidents andtheir follow-up, and implementation of solutions to minimize risks and prevent injury caused by errors.the result of carrying out an action or not taking the action that should be taken The importance of riskmanagement in the hospital is to minimize the number of unwanted events. Based on a preliminary studyof five medical record processing at the Dr Soediran Mangun Sumarso Wonogiri Regional Hospital, thebigger risk is filing, in the medical record unit there is no standard risk management operationalprocedure and there is no report related to risk management. This type of research is descriptive with across sectional approach. The subjects are the Facility Management and Safety coordinator, head ofmedical records, and head of filing. The object of the filing room and the risk management process. Theresearch instruments were observation guidelines and interview guidelines. Data analysis was carriedout by univariate. The results show that risk management at Dr Soediran Mangun Soemarso WonogiriHospital has been carried out. Safety Facility Management is a working group to plan risk managementin each unit. The medical record unit of Dr Soediran Mangun Soemarso Wonogiri Hospital implementsrisk management with an appropriate sequence of risk management processes starting fromcommunication consultation, scope of context criteria, risk assessment, risk treatment, monitoring andreview. In the filing section of the Dr Soediran Mangun Soemarso Wonogiri Regional Hospital, there isone important stage that is overlooked in the risk management process, namely the scope, context, andcriteria stages. The conclusion of this study is that the Facility and Safety Management section hasimplemented a risk management process in the medical record unit but has not been maximallyimplemented in the filing section.

scholarly journals Development and Reliability Review of an Assessment Tool to Measure Competency in the Seven Elements of the Risk Management Process: Part One—The RISKometric

Safety ◽  
2020 ◽  
Vol 7 (1) ◽  
pp. 1
Author(s):  
Garry Marling ◽  
Tim Horberry ◽  
Jill Harris
Keyword(s):  
Risk Management ◽  
Assessment Tool ◽  
Management Practice ◽  
Health And Safety ◽  
Future Research ◽  
Management Process ◽  
Risk Management Process ◽  
Work Health ◽  
Risk Scenario ◽  
The Individual

Ineffective and inefficient workforce involvement can negatively impact risk management practice for work health and safety (WHS) issues. Often the risk management process is undertaken by a single person, or by teams without a facilitator and without regard to the participants’ levels of competency in the risk management process. This study aimed to develop a tool to assess the competence of individuals in different elements of the risk management process and then review its reliability. This tool, termed the RISKometric, incorporated a 360° performance review method whereby peers upline and downline colleagues and the individual themselves gave competence ratings. The RISKometric was tested using 26 participants. Results showed that a significant positive relationship existed between the feedback given by peers and downline colleagues. Initial results gained from using the tool suggest it is able to discriminate the competence of participants, in each of the elements of risk management, through the opinions of self and others. In future research, we test assumptions through a further two studies. Firstly, that individuals’ RISKometric results are comparable with their performance in a risk scenario exercise; so, providing validity for the tool. Secondly, that a collectively-optimised team (formed using the Riskometric) can perform a risk assessment exercise better than marginally- or sub-optimised teams.

Sign in / Sign up

Export Citation Format

Share Document