Development taxonomy of human risk factors for corporate sustainability in aviation sector

2018 ◽  
Vol 90 (6) ◽  
pp. 1012-1022 ◽  
Author(s):  
Ebru Yazgan
Keyword(s):  
Risk Factors ◽  
Risk Factor ◽  
Human Factors ◽  
Human Error ◽  
Human Performance ◽  
Corporate Sustainability ◽  
Individual Characteristics ◽  
Working Environment ◽  
Content Type ◽  
Human Risk

PurposeContemporary management and strategy mean optimization of ingredient factors such as human factors, systems, operations and equipment. With system approach in management and strategy, human risk factor as input has considerable potential to change results as airworthiness in aviation management. The managers of aviation business also optimize their functions to act safe while making contribution to development in triple of sustainability as economic development and its sustainability; social development and its sustainability; and environmental development and its sustainability. Corporate sustainability can be accomplished via supporting workforce which is the human risk factor. To support (empowerment) workforce, researchers should identify human risk or error factors which are important to this research. The purpose of this study is to suggest holistic framework for working environment system of aircraft maintenance technicians (AMTs) within two respects such as human performance (ergonomics) and corporate performance (sustainability). The secondary purpose of this system is to develop human risk taxonomy by determining the factors affecting both human and work by taking ergonomic aspects in aviation.Design/methodology/approachIn this study, a taxonomy of human risk factors for AMTs is developed. These human factors divided into groups and subfactors are obtained from an extensive literature review and experts’ opinions in the field of human performance in aviation. Taxonomy developed will be useful to both sharing and using corporate sources in sustainable way.FindingsHuman risk factors can be considered or accepted as factors that cause human error. This may result in the optimum way to managing human risk factor via minimizing human-based error. Personality, hazardous attitudes, individual characteristics, physical/psychological condition of AMTs and corporate social responsibility factors are human-related risk variables in this study. The risks and error can be reduced by recognizing these factors and revealing their relation to ergonomic design.Originality/valueThe results of this study are intended to constitute a guide for managers to manage risk factors and to take corrective and preventive actions for their maintenance operations. It is believed that this study is highly important for the aviation sector in terms of raising awareness or providing awareness for similar practices. As taxonomy of the risk factors contributes to the managing human error, corrective actions related to these factors must be taken by managers.

Development of risk factors taxonomy in ramp operations for corporate sustainability

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ebru Yazgan ◽  
Vildan Durmaz ◽  
Ayse Kucuk Yilmaz
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Human Performance ◽  
Human Factor ◽  
Corporate Sustainability ◽  
Individual Performance ◽  
Content Type ◽  
Environmental Value ◽  
Ground Handling ◽  
Risk Taxonomy

Purpose This research has the potential to contribute to the understanding of the sustainable ground handling operations framework. Ramp operations as the main system of ground handling include critical services for aircraft/airlines. The purpose of this study is to identify the risk factors in ramp operations for all related stakeholders’ awareness to enhance flight safety. Classifying risk factors, the four main performance fields under risk taxonomy is determined. Thus, managers may allocate resources effectively to handle related threats for corporate sustainability. Design/methodology/approach New taxonomy with human performance value indicators, which sources from the environment is developed. New developed taxonomy is entitled as “environmental value approach,” which represents environmental value-based approach. The developed new risk factors taxonomy is divided into groups such as ramp personnel, organizational, sustainability-based risk factors: triple view and ergonomics obtained from an extensive literature review and experts’ opinions in the field of human performance. Findings The findings of this research show that managers need a risk management-oriented approach to manage the human factor affecting performance and sustainability. The newly developed taxonomy offers not only identifying the sources of unsafe operational risk factors but also using as a decision-support tool to manage risks for achieving their sustainability goals. When managerial decisions are made according to risk taxonomy and managing these risks, then corporate performance and individual performance may improve. Originality/value The new taxonomy presents the performance-based management of the human factor with a holistic and systematic risk management-based approach. There is no risk taxonomy study designed considering ramp operations and sustainability-based human factor performance.

Human factors in maintenance: a review

2016 ◽  
Vol 22 (3) ◽  
pp. 218-237 ◽  
Author(s):  
Mohammad Sheikhalishahi ◽  
Liliane Pintelon ◽  
Ali Azadeh
Keyword(s):  
Decision Making ◽  
Human Factors ◽  
Human Error ◽  
Human Performance ◽  
Decision Makers ◽  
Content Type ◽  
Swiss Cheese Model ◽  
Maintenance Decision ◽  
Cheese Model ◽  
Review Current

Purpose – The purpose of this paper is to review current literature analyzing human factors in maintenance, and areas in need of further research are suggested. Design/methodology/approach – The review applies a novel framework for systematically categorizing human factors in maintenance into three major categories: human error/reliability calculation, workplace design/macro-ergonomics and human resource management. The framework further incorporates two well-known human factor frameworks, i.e., the Swiss Cheese model and the ergonomic domains framework. Findings – Human factors in maintenance is a pressing problem. The framework yields important insights regarding the influence of human factors in maintenance decision making. By incorporating various approaches, a robust framework for analyzing human factors in maintenance is derived. Originality/value – The framework assists decision makers and maintenance practitioners to evaluate the influence of human factors from different perspectives, e.g. human error, macro-ergonomics, work planning and human performance. Moreover, the review addresses an important subject in maintenance decision making more so in view of few human error reviews in maintenance literature.

The nexus between risk factor disclosures and short-run performance of IPOs – evidence from literature

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Krishan Lal Grover ◽  
Pritpal Singh Bhullar
Keyword(s):  
Risk Factors ◽  
Risk Factor ◽  
Literature Review ◽  
Research Papers ◽  
Content Type ◽  
Ipo Performance ◽  
Short Run ◽  
Research Gap ◽  
Review Study ◽  
Risk Disclosures

PurposeThe main purpose of the present study is to stretch the theoretical framework of existing stock of literature with reference to Risk Disclosures in IPO Prospectus and IPO performance. The systematic literature review study endows easy and quick access to researchers as well as categorization of the available literature.Design/methodology/approachFifty research papers, which has been published or presented from 2000 to 2019 and are related to IPO risk disclosures and IPO performance, have been finalized. Further, these research papers were categorized based upon the five different variables to identify the probable research gap in the selected topic.FindingsThis review provides a coherent summary of past studies related to topic and develop a comprehensive evidence on relationship between disclosure of risk factors and IPO underpricing in short run. It shows the existing research gap that needs to be fulfilled to expand the research horizon of future research studies.Research limitations/implicationsThe sole limitation of the study is that being a systematic literature review study, it does not carry any empirical results.Practical implicationsThe investors will be able to identify the key risk factors, disclosed in IPO prospectus, that may have probable dent on the short-term return from IPO. The findings will further help the investors and financial analyst to identify the degree of impact of risk disclosures that are listed in IPO prospectus.Originality/valueThe paper is a first of its kind to stretch the existing literature and develop theoretical framework in the context of risk factor discloses in IPO prospectus and IPO performance with reference to India. The present study is an attempt to integrate the existing gap between empirical research and existing literature and suggest the techniques to the future practitioners to widen the horizon of their research.

Reducing risk in equine anaesthesia part 2: specific risk factors, human factors and safety checklists

UK-Vet Equine ◽  
2019 ◽  
Vol 3 (4) ◽  
pp. 138-145
Author(s):  
Kate R Loomes
Keyword(s):  
Risk Factors ◽  
Patient Safety ◽  
Human Factors ◽  
General Anaesthesia ◽  
Human Error ◽  
Inherent Risk ◽  
Specific Risk ◽  
Risk Knowledge

Performing general anaesthesia in horses carries an inherent risk. Knowledge of the physiological, pharmacological and practical considerations unique to horses is important to be able to minimise this risk and to address complications should they arise. This article discusses the physiological considerations of subsets of the equine population; aspects of human and patient safety; and methods to reduce human error.

Liquidity and real estate asset pricing: a pan-European study

2014 ◽  
Vol 7 (1) ◽  
pp. 59-86 ◽  
Author(s):  
Alexander Scholz ◽  
Stephan Lang ◽  
Wolfgang Schaefers
Keyword(s):  
Risk Factors ◽  
Risk Factor ◽  
Asset Pricing ◽  
Real Estate ◽  
Stock Returns ◽  
Systematic Risk ◽  
Time Series Regression ◽  
Content Type ◽  
Market Factors ◽  
The Impact

Purpose – Understanding the pricing of real estate equities is a central objective of real estate research. This paper aims to investigate the impact of liquidity on European real estate equity returns, after accounting for well-documented systematic risk factors. Design/methodology/approach – Based on risk factors derived from general equity data, the authors extend the Fama-French time-series regression approach by a liquidity factor, using a pan-European sample of 272 real estate equities. Findings – The empirical results indicate that liquidity is a significant pricing factor in real estate stock returns, even after controlling for market, size and book-to-market factors. In addition, the authors detect that real estate stock returns load predominantly positively on the liquidity risk factor, suggesting that real estate equities tend to behave like illiquid common equities. These findings are underpinned by a series of robustness checks. Running a comparative analysis with alternative factor models, the authors further demonstrate that the liquidity-augmented asset-pricing model is most appropriate for explaining European real estate stock returns. Research limitations/implications – The inclusion of sentiment and downside risk factors could provide further insights into real estate asset pricing in European capital markets. Originality/value – This is the first study to examine the role of liquidity as a systematic risk factor in a pan-European setting.

Modelling critical risk factors for Indian construction project using interpretive ranking process (IRP) and system dynamics (SD)

2017 ◽  
Vol 34 (9) ◽  
pp. 1451-1473 ◽  
Author(s):  
Tanmay Nitin Mhatre ◽  
J.J. Thakkar ◽  
J. Maiti
Keyword(s):  
Risk Factors ◽  
Risk Factor ◽  
Literature Review ◽  
Construction Industry ◽  
Performance Measures ◽  
Construction Project ◽  
Performance Measure ◽  
Content Type ◽  
Interpretive Ranking Process ◽  
Risk Parameters

Purpose The purpose of this paper is to employ an integrated approach of interpretive ranking process (IRP) and system dynamics (SD) for modelling the key risk factors for a typical construction project. Design/methodology/approach The risk parameters and performance measures applicable in the construction industry have been identified through extensive literature review and discussions with experts from the construction industry. Based on the literature review, a questionnaire was designed and 64 responses were considered. The list of 20 risk parameters and 32 performance measures relevant for a construction industry is reduced to five risk factors and five performance measure factors using factor analysis. IRP modelling is employed to examine the contextual relationships among risk factors and to rank them with respect to performance measure factors. Subsequently, the results of IRP model were utilised as inputs to SD analysis. The SD analysis is conducted for two models, namely, risk factor model and risk variable model to understand the impact of interventions offered by project management team on risk reduction and mitigation. Findings The developed IRP model shows that the risk factor dimension “construction management” has a high likeliness to occur during the construction phase. Research limitations/implications The research demonstrates an application of proposed approach for a typical construction environment and hence the results cannot be generalised. Originality/value This research addresses real life complexities in construction project by modelling critical risk factors using an integrate approach of IRP and SD. The proposed approach would facilitate project managers to devise appropriate risk mitigation strategies for a construction project.

A taxonomy of performance shaping factors for shield tunnel construction

2018 ◽  
Vol 25 (4) ◽  
pp. 574-596 ◽  
Author(s):  
Jue Li ◽  
Minghui Yu ◽  
Hongwei Wang
Keyword(s):  
Modeling And Simulation ◽  
Human Behavior ◽  
Human Error ◽  
Human Performance ◽  
Behavior Modeling ◽  
Shield Tunnel ◽  
Tunnel Construction ◽  
Content Type ◽  
Human Behavior Modeling ◽  
Performance Shaping Factors

PurposeOn shield tunnel construction (STC) site, human error is widely recognized as essential to accident. It is necessary to explain which factors lead to human error and how these factors can influence human performance. Human reliability analysis supports such necessity through modeling the performance shaping factors (PSFs). The purpose of this paper is to establish and validate a PSF taxonomy for the STC context.Design/methodology/approachThe approach taken in this study mainly consists of three steps. First, a description of the STC context is proposed through the analysis of the STC context. Second, the literature which stretch across the PSF methodologies, cognitive psychology and human factors of STC and other construction industries are reviewed to develop an initial set of PSFs. Finally, a final PSF set is modified and validated based on STC task analysis and STC accidents cases.FindingsThe PSF taxonomy constituted by 4 main components, 4 hierarchies and 85 PSFs is established for human behavior modeling and simulation under the STC context. Furthermore, by comparing and evaluating the performance of STC PSF and existing PSF studies, the proposed PSF taxonomy meets the requirement for qualitative and quantitative analysis.Practical implicationsThe PSF taxonomy can provide a basis and support for human behavior modeling and simulation under the STC context. Integrating PSFs into a behavior simulation model provides a more realistic and integrated assessment of human error by manifesting the influence of each PSFs on the cognitive processes. The simulation results can suggest concrete points for the improvement of STC safety management.Originality/valueThis paper develops a taxonomy of PSFs that addresses the various unique influences of the STC context on human behaviors. The harsh underground working conditions and diverse resources of system information are identified as key characteristics of the STC context. Furthermore, the PSF taxonomy can be integrated into a human cognitive behavior model to predict the worker’s behavior on STC site in future work.

Human Error in Health Care Delivery: Cases, Causes and Correction

1993 ◽  
Vol 37 (11) ◽  
pp. 846-848 ◽  
Author(s):  
Harold P. Van Cott
Keyword(s):  
Health Care ◽  
Human Factors ◽  
Health Care Delivery ◽  
Human Error ◽  
Human Performance ◽  
Care Delivery ◽  
Human Errors ◽  
Improve Reliability ◽  
Intensive System

Health care delivery is viewed as a complex, people-intensive system whose reliability depends on human performance. Examples of the human errors that occur in health care are described, and human factors interventions and remedies that might be taken to improve reliability and safety are suggested.

Theoretical review on critical risk factors in oil and gas construction projects in Yemen

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mukhtar A Kassem ◽  
Muhamad Azry Khoiry ◽  
Noraini Hamzah
Keyword(s):  
Risk Factors ◽  
Risk Factor ◽  
Literature Review ◽  
Construction Projects ◽  
Oil And Gas ◽  
Project Success ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Content Type ◽  
Oil And Gas Sector

PurposeThe oil and gas construction projects are affected negatively by the drop in oil price in recent years. Thus, most engineering, procurement and construction (EPC) companies are opting to optimize the project mainly to mitigate the source of risks in construction to achieve the project expectation. Risk factors cause a threat to the project objectives regarding time, cost and quality. It is additionally a vital component in deviating from the client's expectation of productivity, safety and standards. This research aims to investigate the causes of risk in the oil and gas construction projects in Yemen.Design/methodology/approachA comprehensive literature review from various sources including books, conference proceedings, the Internet project management journals and oil and gas industry journals was conducted to achieve the objectives of this study. This initial work was predicated strictly on a literature review and the judgments of experts to develop the risk factor framework for the oil and gas construction projects in Yemen.FindingsThe authors found a few studies related to risk factors in oil and gas construction projects and shared a similar view about general construction projects. However, only a fraction of the factors accepted have included the variances of other studies on a regional basis or specific countries, such as the Yemen situation, due to the differences between the general construction industry and oil and gas industry. Moreover, the factors of these attributes were still accepted due to their applicability to the oil and gas industry, and no significant variances existed between countries. Research has indicated that 51 critical factors cause risks in the oil and gas construction projects in Yemen. Such risk factors can be divided into two major groups: (1) internal risk factors, including seven critical sources of risks, namely client, contractor, consultant, feasibility study and design, tendering and contract, resources and material supply and project management; and (2) external risk factors, including six sources of critical risk factors, namely national economic, political risk, local people, environment and safety, security risk and force-majeure-related risk factors. A risk factor framework was developed to identify the critical risk factors in the oil and gas construction projects in Yemen.Research limitations/implicationsThis research was limited to the oil and gas construction projects.Practical implicationsPractically, this study highlights the risk factors that cause a negative effect on the success of oil and gas construction projects in Yemen. The identification of these factors is the first step in the risk management process to develop strategic responses for risks and enhance the chances of project success.Social implicationsThe identification of risks factors that cause the failure of construction projects helps develop response strategies for these risks, thereby increasing the chances of project success reflected in the oil and gas sector, which is a main tributary of the national economy in developing countries.Originality/valueThis research is the pioneer for future investigations into this vital economic sector. Given the lack of resources and studies in the field of construction projects for the Yemeni oil and gas sector, the Yemeni government, oil companies and researchers in this field are expected to benefit from the results of this study. The critical risk factors specific to the oil and gas construction projects in Yemen should be further investigated with focus only on Yemen and its oil and gas industry players.

scholarly journals Do Fama–French common risk-factor portfolio investors herd on a daily basis? Implications for common risk-factor regressions

2019 ◽  
Vol 3 (2) ◽  
pp. 137-156
Author(s):  
Chamil W. Senarathne
Keyword(s):  
Risk Factors ◽  
Risk Factor ◽  
Stock Return ◽  
Factor Model ◽  
Five Factor Model ◽  
Daily Basis ◽  
Herd Behavior ◽  
Common Risk Factor ◽  
Content Type ◽  
Fundamental Information

Purpose The purpose of this paper is to examine whether Fama–French common risk-factor portfolio investors herd on a daily basis for five developed markets, namely, Europe, Japan, Asia Pacific ex Japan, North America and Globe. Design/methodology/approach To examine the herd behavior of common risk-factor portfolio investors, this paper utilizes the cross-sectional absolute deviations (CSAD) methodology, covering a daily data sampling period of July 1990 to January 2019 from Kenneth R. French-Data Library. CSAD driven by fundamental and non-fundamental information is assessed using Fama–French five-factor model. Findings The results do not provide evidence for herding under normal market conditions, either when reacting to fundamental information or non-fundamental information, for any region under consideration. However, Fama–French common risk-factor portfolio investors mimic the underlying risk factors in returns related to size and book-to-market value, size and operating profitability, size and investment and size and momentum of the equity stocks in European and Japanese markets during crisis period. Also, no considerable evidence is found for herding (on fundamental information) under crisis and up-market conditions except for Japan. Ancillary findings are discussed under conclusion. Research limitations/implications Further research on new risk factors explaining stock return variation may help improve the model performance. The performance can be improved by adding new risk factors that are free from behavioral bias but significant in explaining common stock return variation. Also, it is necessary to revisit the existing common risk factors in order to understand behavioral aspects that may affect cost of capital calculations (e.g. pricing errors) and valuation of investment portfolios. Originality/value This is the first paper that examines the herd behavior (fundamental and non-fundamental) of Fama–French common risk-factor investors using five-factor model.

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