Risk Analysis and Risk Management for Offshore Platforms: Lessons From the Piper Alpha Accident

1993 ◽  
Vol 115 (3) ◽  
pp. 179-190 ◽  
Author(s):  
M. E. Pate´-Cornell
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Failure Modes ◽  
Wide Spectrum ◽  
Management Strategies ◽  
Quantitative Information ◽  
Management Tool ◽  
Offshore Platforms ◽  
Safety Measures ◽  
Risk Management Strategies

A probabilistic risk analysis (PRA) framework is used to identify the accident sequence of the 1988 Piper Alpha accident. This framework is extended to include the human decisions and actions that have influenced the occurrences of these basic events, and their organizational roots. The results of this preliminary analysis allow identification of a wide spectrum of possible risk reduction measures, ranging from classical technical solutions such as addition of redundancies, to organizational improvements such as a change in the maintenance procedures. An explicit PRA model is then developed to assess the benefits of some of these safety measures based, first, on the original contribution to the overall risk of the failure modes that these measures are designed to avert, and second, on the degree to which they can reduce the probabilities of these failure modes. PRA can then be used as a management tool, allowing optimization of risk management strategies based both on the qualitative information about causalities provided by the accident, and on the quantitative information about failure probabilities updated in the light of new events. It is shown how PRA can be used to assess, for example, the cost-effectiveness of safety measures designed to decrease the probability of severe fire damage onboard platforms similar to Piper Alpha.

scholarly journals An interactive web-GIS tool for risk analysis: a case study in the Fella River basin, Italy

2016 ◽  
Vol 16 (1) ◽  
pp. 85-101 ◽  
Author(s):  
Z. C. Aye ◽  
M. Jaboyedoff ◽  
M. H. Derron ◽  
C. J. van Westen ◽  
H. Y. Hussin ◽  
...  
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Management Strategies ◽  
Web Gis ◽  
Data Set ◽  
Prototype Development ◽  
Risk Management Strategies ◽  
Northeastern Italy ◽  
Study Sites

Abstract. This paper presents a prototype of an interactive web-GIS tool for risk analysis of natural hazards, in particular for floods and landslides, based on open-source geospatial software and technologies. The aim of the presented tool is to assist the experts (risk managers) in analysing the impacts and consequences of a certain hazard event in a considered region, providing an essential input to the decision-making process in the selection of risk management strategies by responsible authorities and decision makers. This tool is based on the Boundless (OpenGeo Suite) framework and its client-side environment for prototype development, and it is one of the main modules of a web-based collaborative decision support platform in risk management. Within this platform, the users can import necessary maps and information to analyse areas at risk. Based on provided information and parameters, loss scenarios (amount of damages and number of fatalities) of a hazard event are generated on the fly and visualized interactively within the web-GIS interface of the platform. The annualized risk is calculated based on the combination of resultant loss scenarios with different return periods of the hazard event. The application of this developed prototype is demonstrated using a regional data set from one of the case study sites, Fella River of northeastern Italy, of the Marie Curie ITN CHANGES project.

scholarly journals How does the WHO Surgical Safety Checklist fit with existing perioperative risk management strategies? An ethnographic study across surgical specialties in Norway

2020 ◽  
Author(s):  
Hilde Valen Wæhle ◽  
Arvid Steinar Haugen ◽  
Siri Wiig ◽  
Eirik Søfteland ◽  
Nick Sevdalis ◽  
...  
Keyword(s):  
Risk Management ◽  
Performance Indicator ◽  
Management Strategies ◽  
Ethnographic Study ◽  
World Health ◽  
Management Tool ◽  
Team Members ◽  
Surgical Safety Checklist ◽  
Surgical Safety ◽  
Risk Management Strategies

Abstract Background The World Health Organization (WHO) Surgical Safety Checklist (SSC) has demonstrated beneficial impacts on a range of patient- and team outcomes, though variation in SSC implementation and staffʼs perception of it remain challenging. Precisely how frontline personnel integrate the SSC with pre-existing perioperative clinical risk management remains underexplored – yet likely an impactful factor on how SSC is being used and its potential to improve clinical safety. This study aimed to explore how members of the multidisiplinary perioperative team integrate the SSC within their risk management strategies. Methods An ethnographic case study including observations (40h) in operating theatres and in-depth interviews of 17 perioperative team members was carried out at two hospitals in 2016. Data were analysed using content analysis. Results We identified three themes reflecting the integration of the SSC in daily surgical practice: 1) Perceived usefullness; implying an intuitive advantage assessment of the SSCʼs practical utility in relation to relevant work; 2) Modification of implementation; reflecting performance variability of SSC on confirmation of items due to precence of team members; barriers of performance; and definition of SSC as performance indicator, and 3) Communication outside of the checklist; including formal- and informal micro-team formations where detailed, specific risk communication unfolded. Conclusion When the SSC is not integrated within existing risk management strategies, but perceived as an “add on”, its fidelity is compromised, hence limiting its potential clinical effectiveness. Implementation strategies for the SSC should thus integrate it as a risk-management tool and include it as part of risk-management education and training. This can improve team learning around risk comunication, foster mutual understanding of safety perspectives and enhance SSC implementation.

scholarly journals How does the WHO Surgical Safety Checklist fit with existing perioperative risk management strategies? An ethnographic study across surgical specialities in Norway

2019 ◽  
Author(s):  
Hilde Valen Wæhle ◽  
Arvid Steinar Haugen ◽  
Siri Wiig ◽  
Eirik Søfteland ◽  
Nick Sevdalis ◽  
...  
Keyword(s):  
Risk Management ◽  
Performance Indicator ◽  
Management Strategies ◽  
Ethnographic Study ◽  
World Health ◽  
Management Tool ◽  
Team Members ◽  
Surgical Safety Checklist ◽  
Surgical Safety ◽  
Risk Management Strategies

Abstract Background The World Health Organization (WHO) Surgical Safety Checklist (SSC) has demonstrated beneficial impacts on a range of patient- and team outcomes, though variation in SSC implementation and staff`s perception of it remain challenging. Precisely how frontline personell integrate the SSC with pre-existing perioperative clinical risk management remains underexplored – yet likely an impactful factor on how SSC is being used and its potential to improve clinical safety. This study aimed to explore how members of the multidisiplinary perioperative team integrate the SSC within their risk management strategies. Methods An ethnographic case study including observations (40h) in operating theatres and in-depth interviews of 17 perioperative team members was carried out at two hospitals in 2016. Data were analysed using content analysis. Results We identified three themes reflecting the integration of the SSC in daily surgical practice: 1) Assessing utility; implying an intuitive advantage assessment of the SSC`s practical utility in relation to relevant work; 2) Customising implementation; reflecting performance variability of SSC on confirmation of items due to precence of team members; barriers of performance; and definition of SSC as performance indicator, and 3) Interactive micro-team communication; including formal- and informal micro-team formations where detailed, specific risk communication unfolded. Conclusion When the SSC is not integrated within existing risk management strategies, but perceived as an “add on”, its fidelity is compromised, hence limiting its potential clinical effectiveness. Implementation strategies for the SSC should thus integrate it as a risk-management tool and include it as part of risk-management education and training. This can improve team learning around risk comunication, foster mutual understanding of safety perspectives and enhance SSC implementation.

scholarly journals Risk Management Strategies to Cope Catastrophic Risks in Agriculture: The Case of Contract Farming, Diversification and Precautionary Savings

Agriculture ◽  
2020 ◽  
Vol 10 (8) ◽  
pp. 351
Author(s):  
K M Mehedi Adnan ◽  
Liu Ying ◽  
Zeraibi Ayoub ◽  
Swati Anindita Sarker ◽  
Rashid Menhas ◽  
...  
Keyword(s):  
Risk Management ◽  
Management Strategies ◽  
Probit Model ◽  
Management Tool ◽  
Precautionary Savings ◽  
Contract Farming ◽  
Research Results ◽  
Risk Management Strategies ◽  
Risk Sources ◽  
Catastrophic Risks

Risk management is an essential way for farmers to reduce uncertainty. In this research, a stratified random sampling method was used to survey 350 maize farmers in four different agro-ecological regions in Bangladesh. Using the multivariate probit model, this study explored the possible correlation between farmers’ perceptions of catastrophic risks and their attitudes towards risk sources—as well as the possible correlation between contract farming, diversification and precautionary savings as risk management strategies. The results confirm the relevance of risk management adoption decisions and reveal that the use of one risk management tool may simultaneously influence the use of another risk management tool. In addition, the research results also show that age, education level, extension experience, monthly household income, farming areas, land ownership and risk aversion nature are the most important factors that affect the adoption of risk management strategies. The research results provide further explanation and information and provide a platform for decision-makers to predict appropriate risk management strategies.

scholarly journals An interactive web-GIS tool for risk analysis: a case study in the Fella River Basin, Italy

2015 ◽  
Vol 3 (6) ◽  
pp. 4007-4057 ◽  
Author(s):  
Z. C. Aye ◽  
M. Jaboyedoff ◽  
M. H. Derron ◽  
C. J. van Westen ◽  
H. Y. Hussin ◽  
...  
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Management Strategies ◽  
Web Gis ◽  
Data Set ◽  
Prototype Development ◽  
Risk Management Strategies ◽  
Study Sites ◽  
Risk Managers

Abstract. This paper presents a prototype of an interactive web-GIS tool for risk analysis of natural hazards, in particular for floods and landslides, based on open-source geospatial software and technologies. The aim of the presented tool is to assist the experts (risk managers) in analysing the impacts and consequences of a certain hazard event in a considered region, providing an essential input to the decision making process in the selection of risk management strategies by responsible authorities and decision makers. This tool is based on the Boundless (OpenGeo Suite) framework and its client side environment for prototype development, and it is one of the main modules of a web-based collaborative decision support platform in risk management. Within this platform, the users can import necessary maps and information to analyse areas at risk. Based on provided information and parameters, loss scenarios (amount of damages and number of fatalities) of a hazard event are generated on-the-fly and visualized interactively within the web-GIS interface of the platform. The annualized risk is calculated based on the combination of resultant loss scenarios with different return periods of the hazard event. The application of this developed prototype is demonstrated using a regional data set from one of the case study sites, Fella River of North Eastern Italy, of the Marie Curie ITN CHANGES project.

Risk Management in Supplier Selection

2020 ◽  
pp. 358-383
Author(s):  
Zhong Hua Zhang ◽  
Ehsan Sharifnia
Keyword(s):  
Risk Management ◽  
Supplier Selection ◽  
Failure Modes ◽  
Service Industry ◽  
Management Strategies ◽  
Relationship Management ◽  
Supplier Relationship Management ◽  
Risk Management Strategies ◽  
Potential Risks ◽  
Supplier Relationship

Risk management issues have been widely researched in areas such as system engineering, business management, financial planning, market research, and service industry. Many approaches have been proposed to reduce or minimize risks, maintain productivity or profitability in organizations. However, different risk management strategies are needed under different situations and different industries. In this chapter, the authors address the theme of risk management in supply chains. They begin by reviewing the metrics of supply chain performance, followed by design and development of supplier relationship management process, and a failure modes and effects analysis (FMEA)-based approach to identify and evaluate the potential risks in the process of commodity procurement. After analyzing the causes and effects of potential risks in procurement, they develop a strategic plan to monitor and control risk management and implement continuous improvement. A case study is provided for supplier selection and buyer-supplier relationship management.

scholarly journals What Determines the Uptake of Multiple Tools to Mitigate Agricultural Risks among Hybrid Maize Growers in Pakistan? Findings from Field-Level Data

Agriculture ◽  
2021 ◽  
Vol 11 (7) ◽  
pp. 578
Author(s):  
Shoaib Akhtar ◽  
Azhar Abbas ◽  
Muhammad Amjed Iqbal ◽  
Muhammad Rizwan ◽  
Abdus Samie ◽  
...  
Keyword(s):  
Risk Management ◽  
Management Strategies ◽  
Management Tool ◽  
Easy Access ◽  
Farm Income ◽  
Contract Farming ◽  
Income Diversification ◽  
Risk Management Strategies ◽  
Farm Credit ◽  
Hybrid Maize

Arable farming is an intrinsically risky enterprise. Therefore, managing risks and uncertainties in agriculture is very important as it affects all sectors of the economy of a developing country like Pakistan. To do so, a whole suite of options is available to the farming community to safeguard against any type of risk. However, farmers’ behavior of the concurrent adoption of multiple risk management tools is largely ignored in previous studies and has formed the rationale for this research. Thus, the current study is intended to investigate farmers’ decisions of adopting risk management strategies (contract farming, off-farm income diversification, and farm credit use) and to examine the impacts of a variety of factors on farmers’ risk management decisions. The present study is carried out in four districts of Punjab province, Pakistan with a focus on hybrid maize growers. A multivariate probit model is used to evaluate the impacts of independent variables on growers’ choices of adopting contract farming, off-farm income diversification, and farm credit use to manage farm risks keeping in view the potential for the concurrent adoption of these risk management strategies. Results show that 78% of farmers are risk-averse and hence ready to manage risks. The top risk faced by farmers is price risk followed by biological, climatic, and financial risks. Contract farming is the most popular strategy (61% farmers) followed by off-farm income diversification (49% farmers), and the use of farm credit (42% farmers). The findings also reveal that the decisions of adopting risk management strategies are interlinked while the adoption of one risk management tool complements farmers’ decision to adopt other risk management strategies. In addition, the risk management strategies’ adoption choices are affected by the number of factors including socioeconomic characteristics, farmers’ risk perceptions about risk sources, and their attitude towards risk. The study recommends the provision of timely information (climatic, extension) along with easy access to farm credit and the streamlining of contractual arrangements.

The management of risk in a dryland environment

2011 ◽  
pp. 13-21
Author(s):  
D.I. Gray ◽  
J.I. Reid ◽  
D.J. Horne
Keyword(s):  
Risk Management ◽  
Service Providers ◽  
Management Strategies ◽  
Subterranean Clover ◽  
Farming Systems ◽  
Market Risk ◽  
Farm Size ◽  
Forage Crops ◽  
Risk Management Strategies ◽  
Upside Risk

A group of 24 Hawke's Bay hill country farmers are working with service providers to improve the resilience of their farming systems. An important step in the process was to undertake an inventory of their risk management strategies. Farmers were interviewed about their farming systems and risk management strategies and the data was analysed using descriptive statistics. There was considerable variation in the strategies adopted by the farmers to cope with a dryland environment. Importantly, these strategies had to cope with three types of drought and also upside risk (better than expected conditions), and so flexibility was critical. Infra-structure was important in managing a dryland environment. Farmers chose between increased scale (increasing farm size) and geographic dispersion (owning a second property in another location) through to intensification (investing in subdivision, drainage, capital fertiliser, new pasture species). The study identified that there may be scope for further investment in infra-structural elements such as drainage, deeper rooting alternative pasture species and water harvesting, along with improved management of subterranean clover to improve flexibility. Many of the farmers used forage crops and idling capacity (reduced stocking rate) to improve flexibility; others argued that maintaining pasture quality and managing upside risk was a better strategy in a dryland environment. Supplementary feed was an important strategy for some farmers, but its use was limited by contour and machinery constraints. A surprisingly large proportion of farmers run breeding cows, a policy that is much less flexible than trading stock. However, several farmers had improved their flexibility by running a high proportion of trading cattle and buffer mobs of ewe hoggets and trade lambs. To manage market risk, the majority of farmers are selling a large proportion of their lambs prime. Similarly, cattle are either sold prime or store onto the grass market when prices are at a premium. However, market risk associated with the purchase of supplements and grazing was poorly managed.

The Effects of Decision Aid Orientation on Risk Factor Identification and Audit Test Planning

2002 ◽  
Vol 21 (2) ◽  
pp. 39-56 ◽  
Author(s):  
Jean C. Bedard ◽  
Lynford E. Graham
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Decision Aid ◽  
Decision Aids ◽  
Management Strategies ◽  
Risk Identification ◽  
Matched Pair ◽  
Audit Planning ◽  
Audit Firms ◽  
Risk Management Strategies

In auditing, risk management involves identifying client facts or issues that may affect engagement risk, and planning evidence-gathering strategies accordingly. The purpose of this paper is to examine whether auditors' identification of risk factors and planning of audit tests is affected by decision aid orientation, i.e., a “negative” focus wherein client risk and its consequences are emphasized, or a “positive” focus where such factors are not emphasized. Specifically, we expect that auditors will identify more risk factors using a negatively oriented risk identification decision aid, but only when engagement risk is relatively high. We address this issue in the context of auditors' knowledge of actual clients, manipulating decision aid orientation as negative or positive in a matched-pair design. Results show that auditors using the negative decision aid orientation identify more risk factors than do those using a positive orientation, for their higher-risk clients. We also find that decisions to apply substantive tests are more directly linked to specific risk factors identified than to direct risk assessments. Further, our results show that auditors with repeat engagement experience with the client identify more risk factors. The findings of this study imply that audit firms may improve their risk management strategies through simple changes in the design of decision aids used to support audit planning.

Sign in / Sign up

Export Citation Format

Share Document