Implementing a Quantitative Geohazard Frequency Analysis Framework as a Component of Risk Assessment of New Pipelines

2016 ◽  
Author(s):  
Alex Baumgard ◽  
Michael Beaupre ◽  
Mark Leir
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Frequency Analysis ◽  
Large Diameter ◽  
Management Framework ◽  
Transmission Pipeline ◽  
Forestry Industry ◽  
Annual Frequency ◽  
Pipeline Failure ◽  
The Impact

In the last 5 years in Canada, regulators have been requesting that new pipeline projects provide quantitative risk management of all credible geohazards involving the proposed pipeline corridor so it can be demonstrated that geohazards are being recognized prioritized and that adequate resources are being allocated and to minimize the impact of adverse consequences of pipeline construction and operation. Complete risk management includes risk analysis that identifies credible geohazards sites, estimates their annual frequency or probability of pipeline failure and, when combined with a consequence of pipeline failure, estimates the risk from each hazard. This paper presents a framework and methodology that quantitatively estimates the Frequency of Loss of Containment (FLoC) for several types of geohazards that meet the requirements for geohazard identification and frequency analysis components of risk analysis. This framework builds on an international geohazard management framework advanced in the last decade by the Australian Geomechanics Society, British Columbia forestry industry, used in geohazard management programs for operating pipelines and proposed pipeline projects in Canada. The framework provides a repeatable and defensible methodology that is intended to be scalable to accept inputs from feasibility level desktop studies, through field-based observations, and incorporate proposed mitigations. This updated framework was most recently implemented on a proposed large diameter transmission pipeline route crossing the varied terrains of Western Canada, the results of which have been adjusted for Owner confidentiality, but are presented to demonstrate the application of the methodology and the effectiveness of communicating the overall hazard frequency reduction as a result of applying site specific mitigations.

scholarly journals The impact of a and b value uncertainty on loss estimation in the reinsurance industry

2000 ◽  
Vol 43 (1) ◽  
Author(s):  
D. Liechti ◽  
E. Ruettener ◽  
S. Eugster ◽  
R. Streit
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Loss Estimation ◽  
Earthquake Risk ◽  
Seismic Risk Analysis ◽  
Earthquake Catalogues ◽  
Local Soil ◽  
Average Annual Loss ◽  
The Impact ◽  
Loss Level

In the reinsurance industry different probabilistic models are currently used for seismic risk analysis. A credible loss estimation of the insured values depends on seismic hazard analysis and on the vulnerability functions of the given structures. Besides attenuation and local soil amplification, the earthquake occurrence model (often represented by the Gutenberg and Richter relation) is a key element in the analysis. However, earthquake catalogues are usually incomplete, the time of observation is too short and the data themselves contain errors. Therefore, a and b values can only be estimated with uncertainties. The knowledge of their variation provides a valuable input for earthquake risk analysis, because they allow the probability distribution of expected losses (expressed by Average Annual Loss (AAL)) to be modelled. The variations of a and b have a direct effect on the estimated exceeding probability and consequently on the calculated loss level. This effect is best illustrated by exceeding probability versus loss level and AAL versus magnitude graphs. The sensitivity of average annual losses due to different a to b ratios and magnitudes is obvious. The estimation of the variation of a and b and the quantification of the sensitivity of calculated losses are fundamental for optimal earthquake risk management. Ignoring these uncertainties means that risk management decisions neglect possible variations of the earthquake loss estimations.

General Approach to Risk Analysis

2014 ◽  
pp. 1-22
Author(s):  
Davorin Matanovic
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Qualitative Methods ◽  
Iterative Process ◽  
Quantitative Methods ◽  
Hybrid Methods ◽  
Petroleum Industry ◽  
Acceptance Criteria ◽  
Risk Acceptance ◽  
The Impact

Broadly accepted methodology that is implemented in the oil industry when dealing with risks includes as the first step the identification of possible hazards. That is done by gathering information about degree of risk according to working procedures, processes, and individuals involved in the operation of the process. That is the first step in risk management, an iterative process that must lead to the use of proper measurements in the way of protecting people, facilities and environment. The analysis is done based on the combination of probability and severity of undesirable events, and the final consequences. Explanation of basic terms, their interdependence, dilemmas, and methods of risk analysis are introduced. Each method is shortly described with main anteriority and shortcomings. Differences between quantitative methods, qualitative methods, and hybrid methods (the combination of qualitative-quantitative or semi-quantitative methods) are elaborated. The impact, occurrence, and the consequences are at the end compared to risk acceptance criteria concept. The ALARP (As Low as Reasonably Practicable) framework is explained with some observation on the quality and acceptance in petroleum industry. Finally, the human impact on the risk and consequences is analyzed.

General Approach to Risk Analysis

2015 ◽  
pp. 1217-1236
Author(s):  
Davorin Matanovic
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Qualitative Methods ◽  
Iterative Process ◽  
Quantitative Methods ◽  
Hybrid Methods ◽  
Petroleum Industry ◽  
Acceptance Criteria ◽  
Risk Acceptance ◽  
The Impact

Broadly accepted methodology that is implemented in the oil industry when dealing with risks includes as the first step the identification of possible hazards. That is done by gathering information about degree of risk according to working procedures, processes, and individuals involved in the operation of the process. That is the first step in risk management, an iterative process that must lead to the use of proper measurements in the way of protecting people, facilities and environment. The analysis is done based on the combination of probability and severity of undesirable events, and the final consequences. Explanation of basic terms, their interdependence, dilemmas, and methods of risk analysis are introduced. Each method is shortly described with main anteriority and shortcomings. Differences between quantitative methods, qualitative methods, and hybrid methods (the combination of qualitative-quantitative or semi-quantitative methods) are elaborated. The impact, occurrence, and the consequences are at the end compared to risk acceptance criteria concept. The ALARP (As Low as Reasonably Practicable) framework is explained with some observation on the quality and acceptance in petroleum industry. Finally, the human impact on the risk and consequences is analyzed.

e-Waste Management Awareness Program in Solomon Island

2019 ◽  
Vol 10 (2) ◽  
pp. 41-59
Author(s):  
Shamsuddin Ahmed
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Waste Management ◽  
Solomon Island ◽  
Human Interaction ◽  
Pacific Island ◽  
Management Framework ◽  
Awareness Program ◽  
Pacific Island Countries ◽  
The Impact

Worldwide electronic waste items have grown as product life has become shorter. The electronic products are e-waste and end up in rubbish dumps and recycling centers, posing a threat to the environment. The e-waste disposal methods adopted by Pacific island countries (PICs) are inadequate. The Solomon Island (SI) is one of the PICs and does not have a sustainable solution. The purpose of this article is to develop a framework for sustainable e-waste management campaign based on a project management framework incorporating stakeholder, risk, time, and public awareness and people management. A macro project management risk model is constructed to implement an e-waste awareness education program and assist PICs policy makers to successfully launch e-waste management program. It is shown in this work how an e-waste project management awareness program can work for SI. The important factors to be controlled for successful e-awareness program are identified with a project risk management framework. The impact, failure, and consequences of the e-waste awareness campaign are quantified. This article also provides a review of the e-waste awareness in Pacific island countries and puts forward a pan to mitigate the e-waste problem in IS. The e‐wastes in SI are unwanted electronic equipment and electrical appliances which reached its end of life and does not function as it was planned. The toxic elements within e-waste contaminate the water, land, and air. The SI does not have enough resources and technical capacity to recycle e-waste. Appropriate management and disposal of e‐waste is essential as the long-standing shield for the protection of SI and regional PICs environments. The aim is to maintain long‐term regional sustainability. The adoption of national e‐waste management policies will safeguard the movement recycling and disposal of e‐waste in a controlled manner through the Basel and Waigani convention protocols. The study designs a new paradigm for solving e-waste management issues is PICs using a project management approach, focusing on risk management, risk impact, organizational design with communication plan, and human interaction.

Food Safety Objective Approach for Controlling Clostridium botulinum Growth and Toxin Production in Commercially Sterile Foods

2011 ◽  
Vol 74 (11) ◽  
pp. 1956-1989 ◽  
Author(s):  
N. M. ANDERSON ◽  
J. W. LARKIN ◽  
M. B. COLE ◽  
G. E. SKINNER ◽  
R. C. WHITING ◽  
...  
Keyword(s):  
Risk Management ◽  
Food Safety ◽  
Clostridium Botulinum ◽  
Control Measure ◽  
Maximum Level ◽  
Toxin Production ◽  
Microbial Inactivation ◽  
Management Framework ◽  
Risk Management Framework ◽  
The Impact

As existing technologies are refined and novel microbial inactivation technologies are developed, there is a growing need for a metric that can be used to judge equivalent levels of hazard control stringency to ensure food safety of commercially sterile foods. A food safety objective (FSO) is an output-oriented metric that designates the maximum level of a hazard (e.g., the pathogenic microorganism or toxin) tolerated in a food at the end of the food supply chain at the moment of consumption without specifying by which measures the hazard level is controlled. Using a risk-based approach, when the total outcome of controlling initial levels (H0), reducing levels (ΣR), and preventing an increase in levels (ΣI) is less than or equal to the target FSO, the product is considered safe. A cross-disciplinary international consortium of specialists from industry, academia, and government was organized with the objective of developing a document to illustrate the FSO approach for controlling Clostridium botulinum toxin in commercially sterile foods. This article outlines the general principles of an FSO risk management framework for controlling C. botulinum growth and toxin production in commercially sterile foods. Topics include historical approaches to establishing commercial sterility; a perspective on the establishment of an appropriate target FSO; a discussion of control of initial levels, reduction of levels, and prevention of an increase in levels of the hazard; and deterministic and stochastic examples that illustrate the impact that various control measure combinations have on the safety of well-established commercially sterile products and the ways in which variability all levels of control can heavily influence estimates in the FSO risk management framework. This risk-based framework should encourage development of innovative technologies that result in microbial safety levels equivalent to those achieved with traditional processing methods.

scholarly journals MODEL RANCANGAN PENGELOLAAN MANAJEMEN RISIKO PADA PT. XYZ MENGGUNAKAN ISO 31000

2017 ◽  
Vol 14 (2) ◽  
pp. 206-218
Author(s):  
M. Rezky Iqbal P.
Keyword(s):  
Risk Management ◽  
High Risk ◽  
Mining Industry ◽  
Heavy Equipment ◽  
Iso 31000 ◽  
Forestry Industry ◽  
Equipment Unit ◽  
High Level ◽  
The Impact ◽  
Level Of Risk

Heavy equipment trading industry is an industry that has a high level of risk. The heavy equipment trading industry is influenced by several factors that determine the condition of the mining industry, the condition of the property industry, the forestry industry and the price of the world's coal commodities. Segmentation to heavy equipment unit is very focused on the company because the heavy equipment unit has a high risk. When viewed from the impact of the impact of the industry is highly a requirement of risk. In accepting and managing these risks, it is necessary to apply risk management with the objective to minimize the risk of loss to the company.

scholarly journals Liquidity Risk Analysis in Scheduled Commercial Banks

2019 ◽  
Vol 8 (2S4) ◽  
pp. 424-428
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Commercial Banks ◽  
Liquidity Risk ◽  
Due Date ◽  
Management Framework ◽  
Financial Position ◽  
Risk Management Framework ◽  
Financial Obligations

Liquidity risk is the bank’s incompetence to meet the financial obligations on due date at rational cost and without experiencing undesirable losses. It is essential that banks should adhere to prudent liquidity risk management framework to avoid insolvency, bankruptcies and to ensure healthy and stable financial position. It also facilitates the banks to reduce the possibility of adverse situation developing. This study examines the liquidity risk management of scheduled commercial banks by applying stock approach i.e., liquidity ratios. This paper assesses the liquidity risk that the SCBs are exposed to spread over a period from 2005-2015 in order to identify effective measures to mitigate the risk. The findings from the study revealed that SCBs has better liquidity risk management framework in practice.

Risk Analysis Using Simulation Software Applied on a Road Infrastructure Project

2015 ◽  
Vol 4 (1) ◽  
pp. 53-62 ◽  
Author(s):  
Vijaya S. Desai
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Software Tools ◽  
Simulation Software ◽  
The Body ◽  
Close Monitoring ◽  
Road Infrastructure ◽  
Infrastructure Project ◽  
Project Objectives ◽  
The Impact

Risk management in infrastructure projects has been a very important process to achieve the project objectives, namely: time, cost, quality, safety and environmental sustainability. Huge investments are made in infrastructure construction projects like roads, railways, ports, airports, electricity, telecommunication, oil gas pipelines and irrigation. This growing Increase in investment in infrastructure investment projects demands requires close monitoring of costs to ensure a net return. The evaluation of returns on investment at the conceptual stage plays a vital role in this phase. Software tools help in bringing out near accurate analysis of returns on investments and to support project viability under multiple circumstances. The paper presents an analysis of how software was applied to evaluate and mitigate risk during the case of a six lane road infrastructure project. The unit of analysis was the impact of cost of construction cost, interest rates for loans, methods of depreciation, revenue sharing on various financial indices: IRR, MIRR, DSCR and payback period. The interpretation was that software tools can be used to perform risk analysis, sensitivity analysis and scenario analysis. The case study makes a contribution to the body of knowledge by developing guidelines for using software tools in risk management.

scholarly journals ACTUAL PROBLEMS OF POPULATION HEALTH RISKS MANAGEMENT IN RUSSIA

2018 ◽  
Vol 97 (6) ◽  
pp. 572-575 ◽  
Author(s):  
V. N. Rakitskiy ◽  
Simon L. Avaliani ◽  
T. A. Shashina ◽  
N. S. Dodina
Keyword(s):  
Public Health ◽  
Risk Management ◽  
Risk Analysis ◽  
Health Risks ◽  
Cost Benefit ◽  
Management Activity ◽  
Impact Reduction ◽  
The Government ◽  
Business Entities ◽  
The Impact

In the article there are defined the main tasks of risk analysis and its main component - risk management, which make it possible to develop economically efficient measures, aimed at the impact reduction of environmental harmful factors for public health based on the analysis of market driven approaches «cost-benefit» and «cost-effectiveness». As well there are emphasized significant fundamental changes in the area of the legislative support of management activity, focused on sanitary and epidemiological welfare of the population. The implementation of risk-focused approach to the practice of means of control and supervision to the government of Russian Federation is an integral part of control reformation system of different nature. The key problems of public health risk management in Russia are defined and the main ways of their solution are discussed. Thus, the development of reliable and scientifically based classifications of hazard level for objects requires clear criteria for supervision of assessing objects. Classes of business entities should reflect the leading risk factors, which discovered in the controlled areas. In the justification of risk from the probability (frequency) of violations of the mandatory requirements of sanitary legislation required the inventory of all consequences of the breach of sanitary legislation for each object of supervision and their ranking according to the degree of hazard. It is pointed out, that the movement towards to the technological regulation of air pollution emissions, including indicators of the Maximum Achievable Control Technology or (MACT) is a progressive management method, which requires an analysis with the use of MACT from the perspective of achieving acceptable risk levels, as well as an assessment of the effectiveness of alternative measures to reduce emissions, including MACT. It was noted, that on the basis of comparative risk analysis, it is possible to assess not only the risk to human health, but also the environmental risk to the ecosystem and its components, as well as the risk associated with the violation of the quality and living conditions. It is seen the interaction of concerned parties in the development of solutions management of health risks from environmental factors.

scholarly journals Relations of COVID-19 and the Risk Management Framework

2021 ◽  
Vol 13 (21) ◽  
pp. 11854
Author(s):  
Jozef Klucka ◽  
Rudolf Gruenbichler ◽  
Jozef Ristvej
Keyword(s):  
Risk Management ◽  
Ad Hoc ◽  
Mitigation Strategies ◽  
Negative Consequences ◽  
Management Framework ◽  
The North ◽  
Risk Management Framework ◽  
Internet Resources ◽  
Internal Procedures ◽  
The Impact

The routine approach used in risk management is based on the scheme that within the prevention period an organisation or a state prepares for the expected risks and once the risks occur, resources and internal procedures are implemented to mitigate their negative consequences. The objective of the paper is to analyse risk management and its constraints, its application in COVID-19 period and based on it provide mitigating strategies for specific problems/risks related to COVID-19. The research methods related to the topics are: (a) study of books, newspapers and other internet resources and (b) interviews with COVID-19 managers at district and regional level in the north of Slovakia. The proposals for mitigation strategies are based on the basic assumption relevant for COVID-19 that there are risks with unknown probability and unknown consequences. Therefore, the mitigation strategies are adapted to the current situation, which includes lack of data and know-how, lack of experience, political and economic unrest and social problems. The impact of constraints is based on an ad-hoc or unplanned and clearly structured approach. Problems and risks are identified and mitigation strategies are proposed. The proposed measures (quantitative/qualitative) should be evaluated and via benchmarking the development and efficiency of applied measures monitored and assessed. The output of identified risk-known and –unknown creates a framework for implementation.

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