The production of ground-related hazard maps to aid risk management of the Highways England Strategic Road Network Hazard maps for Highways England

2020 ◽  
Vol 53 (3) ◽  
pp. 466-471
Author(s):  
Jonny Neville ◽  
Christopher Power ◽  
Tim Spink ◽  
David Grant ◽  
David Patterson
Keyword(s):  
Risk Management ◽  
Road Network ◽  
Engineering Geology ◽  
Transportation Infrastructure ◽  
Data Management System ◽  
Hazard Maps ◽  
Recent Past ◽  
Management Activity ◽  
Content Type ◽  
Related Risk

As part of a coordinated programme of knowledge improvement tasks, Highways England commissioned Mott MacDonald to research, develop and implement a series of maps to communicate clearly the threat posed by ground-related hazards to the Strategic Road Network (SRN) of England. Events associated with a number of hazards have occurred in the recent past. Understanding the presence, and relative likelihood of occurrence, of these hazards over the 7000 km of the SRN is an essential risk management activity. The maps draw on readily available data sources held on the Geotechnical Data Management System of Highways England (HAGDMS) and have been deliberately created to be open and simple, to convey the hazards to users who may not be specialists in engineering geology. This paper presents the development, validation and application of the hazard maps.Thematic collection: This article is part of the Ground-related risk to transportation infrastructure collection available at: https://www.lyellcollection.org/cc/Ground-related-risk-to-transportation-infrastructure

scholarly journals Strategies and effective decision-making against terrorism affecting supply chain risk management and security

2018 ◽  
Vol 118 (7) ◽  
pp. 1528-1546 ◽  
Author(s):  
Muhammad Naveed Khan ◽  
Pervaiz Akhtar ◽  
Yasmin Merali
Keyword(s):  
Decision Making ◽  
Risk Management ◽  
Supply Chain ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Knowledge Gaps ◽  
Content Type ◽  
Related Risk ◽  
Effective Decision ◽  
Effective Decision Making

Purpose The purpose of this paper is to investigate the knowledge gaps in the published research on terrorism-related risk in supply chains, and to develop a framework of strategies and effective decision-making to enable practitioners to address terrorism-related risks in supply chain risk management (SCRM) and security. Design/methodology/approach The study adopts a novel combination of triangulated methods comprising a systematic literature review (SLR), text mining and network analysis. These methods have not been jointly utilized in past studies, and the approach constitutes a rigorous methodology that cross-validates results and ensures the reliability and validity of qualitative data. Findings The study reveals a number of key themes in the field of SCRM and security linked with terrorism. The authors identify relevant mitigation strategies and practices for effective strategic decision making. This subsequently leads us to develop a strategic framework of strategies and effective decision-making practices to address terrorism-related risk, affecting SCRM and security. The authors also identify key knowledge gaps in the literature and explore the main contributions by disciplines (e.g. business schools, engineering and maritime institutions) and countries. Practical implications The authors provide a strategic framework of strategies and effective decision-making practices that managers can use to minimize terrorism-related risk in the context of SCRM and security. Originality/value This paper introduces a novel methodological combination for improving the quality of SLRs. It uses the approach to systematically review the strategies and effective decision-making practices interlinked with terrorism risk, affecting SCRM and security. It identifies significant knowledge gaps and defines directions for future research.

Analyzing the supply chain risk issues for an Indian manufacturing company

2014 ◽  
Vol 11 (2) ◽  
pp. 144-162 ◽  
Author(s):  
Sudeep Kumar Pradhan ◽  
Srikanta Routroy
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Business Practices ◽  
Manufacturing Companies ◽  
Supply Chain Risk ◽  
Content Type ◽  
Related Risk ◽  
Manufacturing Supply Chain ◽  
Manufacturing Company ◽  
The Impact

Purpose – The purpose of this paper is to identify, analyze, assess and manage the risks issues involved in an Indian manufacturing supply chain. The paper also shows the direction to use the proposed comprehensive risk management framework in different manufacturing supply chain. Design/methodology/approach – The various risks for an Indian manufacturing company are identified through brainstorming session held with managers and engineers. The risks are categorized (i.e. delivery performance; process capability; demand and supply fluctuation at supplier end; rework; and business practices) and the domain (i.e. supplier, manufacturer and customer) of each risk is also identified for further analysis. A Failure Mode and Effect Analysis is used to rank the impact of all the relevant risks associated with various risk categories and the action plans are suggested by proposing a risk treatment process. Findings – The degree of impact of each relevant risk is determined and is used for deriving managerial insights. Through Pareto analysis, it is concluded that top 20 percent risk factors are coming from supplier and organization domain. It is interesting to note that no relevant risk related to customer domain is appearing in top 20 percent. It is also found that 54 percent risk is coming from supplier-related risk domain and 46 percent risk exists in the organization-related risk domain among top 20 percent risk. Research limitations/implications – This study is restricted to only one Indian manufacturing company. Therefore, the outcomes of the study should not be generalized. Further studies may be carried out for several Indian manufacturing industries to get more generalized impact of risks, its validity and their variation across the different manufacturing companies. Practical implications – The simplicity and clarity of the proposed framework provides step-by-step approach for identifying, categorizing and managing risks involved in the supply chain. It also provides the guidelines for a manager to benchmark and update risk handling in a specific manufacturing environment with its own priority considerations. Originality/value – Although many literatures are available related to supply chain risk management, the proposed approach provides a better practical generic platform to understand, manage, reduce and mitigate the risks involved along the manufacturing supply chain.

What does insurance purchase behaviour say about risks?

2015 ◽  
Vol 6 (3) ◽  
pp. 289-299 ◽  
Author(s):  
Maximiliano Emanuel Korstanje ◽  
Babu P. George
Keyword(s):  
Probability Theory ◽  
Risk Management ◽  
Statistical Models ◽  
Design Methodology ◽  
Buenos Aires ◽  
Academic Research ◽  
Recent Past ◽  
Content Type ◽  
The World ◽  
Source Of Information

Purpose – This paper aims to explore the world of insurances as rites of adaptancy and resiliency before risk and disasters. The research on risks, both perceived and real, has become a frequent theme of academic research in the recent past. Design/methodology/approach – The information given by the superintendencia de Seguros de Buenos Aires involves 100 per cent of the insurances companies of Argentina. The reading of insurance demands corresponds with a new method in the studies of risks. Findings – Using advanced probability theory and quantitative techniques, risk management researchers have been able to construct sophisticated mathematical-statistical models of risk. Research limitations/implications – However, the relation between anticipated risks and insurance purchase behaviour has not received sufficient attention. In the present study, starting from the premise that societies may be studied by examining their fears, the authors posit that these fears are represented in the insurance premiums people buy for being protected. Originality/value – Insurance purchase behaviour at any particular point in time is a measure of what a society considers to be risky at that time and is a key source of information for tourism managers.

scholarly journals Sustainability-related risk management in buying logistics services

2017 ◽  
Vol 28 (4) ◽  
pp. 1351-1367 ◽  
Author(s):  
Sirpa Multaharju ◽  
Katrina Lintukangas ◽  
Jukka Hallikas ◽  
Anni-Kaisa Kähkönen
Keyword(s):  
Risk Management ◽  
Service Providers ◽  
Raw Material ◽  
Logistics Industry ◽  
Content Type ◽  
Logistics Service ◽  
Material Sources ◽  
Sustainable Logistics ◽  
Related Risk ◽  
Logistics Services

Purpose Sustainability-related risk management of logistics service providers (LSPs) is an essential part of sustainability performance of focal companies, as logistics services touch the entire supply chain (SC) – from raw material sources to end-customers. The purpose of this paper, draws on resource-based view and stakeholder theory in exploring how companies can manage environmental and social sustainability-related risks from logistics service suppliers. This kind of capability is essential in order to maintain reputation in the eyes of stakeholders, and to maintain long-term financial performance. Design/methodology/approach The data of this multiple-case study were collected from semi-structured interviews in eight case-companies in Finland. Five of the cases are primary logistics buyers, and three represent LSP companies. Findings The cross-case analysis showed that primary buyers of logistics services use their sustainability criteria as a prerequisite for LSP candidates, and when the level is adequate and equal, other factors, e.g. price and capacity, are decisive. Based on the analysis, large LSPs are preparing for the future competition, and act in a more sustainable manner than their customers (buyers) expect at the moment, while small LSPs strictly comply with the regulation. However, buyers’ requirements for sustainable logistics services are increasing as the stakeholder expectations for comprehensively sustainable SCs are growing. Originality/value Only little research has been conducted on sustainable logistics from the buyer company’s risk management perspective. This paper adds the knowledge of sustainability-related risk management in purchasing of logistics services and in the logistics industry.

Organizational Culture in the Focus of Improving Risk Management in the Enterprise

2020 ◽  
Vol 17 (4) ◽  
pp. 86-95
Author(s):  
R. M. Kachalov ◽  
Yu. A. Sleptsova
Keyword(s):  
Risk Management ◽  
Organizational Culture ◽  
Point Of View ◽  
Economic Risk ◽  
Management Activity ◽  
Economic Agents ◽  
Cultural Aspects ◽  
Industrial Enterprises ◽  
Operational Theory ◽  
Stable Forms

The article considers the manifestations of the phenomenon of economic risk in the socioeconomic ecosystems of industrial enterprises, examines and differentiates the pragmatic and cultural aspects of the concept of "economic risk management". In terms of methodology, the study is based on the operational theory of risk management, and also uses tools to describe the organizational culture of risk management. Pragmatic and cultural differences in the characteristics of economic risk are identified at the level of stable forms of management activity with the involvement of the main provisions of the operational theory of risk management. The phenomenon of risk is considered in the ontological space as an artificial category of activity of industrial enterprises and other economic agents that form a socio-economic ecosystem. This phenomenon is studied as a specific form of social communication associated with the desire to assess the uncertain future in the present time, mainly from the point of view of analysis and management of the level of economic risk in the enterprise.

Risk Management on Information Security in ABC Company

2017 ◽  
Vol 4 (1) ◽  
pp. 62-66
Author(s):  
Luyen Ha Nam
Keyword(s):  
Risk Management ◽  
Information Security ◽  
Data Management ◽  
Management System ◽  
Risk Mitigation ◽  
Data Management System ◽  
Data Centre ◽  
Long Time ◽  
Mitigation Action ◽  
Better Than

From long, long time ago until nowadays information still takes a serious position for all aspect of life, fromindividual to organization. In ABC company information is somewhat very sensitive, very important. But how wekeep our information safe, well we have many ways to do that: in hard drive, removable disc etc. with otherorganizations they even have data centre to save their information. The objective of information security is to keep information safe from unwanted access. We applied Risk Mitigation Action framework on our data management system and after several months we have a result far better than before we use it: information more secure, quickly detect incidents, improve internal and external collaboration etc.

Information security in the South Australian real estate industry

2014 ◽  
Vol 22 (1) ◽  
pp. 24-41 ◽  
Author(s):  
Deepa Mani ◽  
Kim-Kwang Raymond Choo ◽  
Sameera Mubarak
Keyword(s):  
Risk Management ◽  
Information Security ◽  
Real Estate ◽  
South Australia ◽  
Security Threats ◽  
The South ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Sector

Purpose – Opportunities for malicious cyber activities have expanded with the globalisation and advancements in information and communication technology. Such activities will increasingly affect the security of businesses with online presence and/or connected to the internet. Although the real estate sector is a potential attack vector for and target of malicious cyber activities, it is an understudied industry. This paper aims to contribute to a better understanding of the information security threats, awareness, and risk management standards currently employed by the real estate sector in South Australia. Design/methodology/approach – The current study comprises both quantitative and qualitative methodologies, which include 20 survey questionnaires and 20 face-to-face interviews conducted in South Australia. Findings – There is a lack of understanding about the true magnitude of malicious cyber activities and its impact on the real estate sector, as illustrated in the findings of 40 real estate organisations in South Australia. The findings and the escalating complexities of the online environment underscore the need for regular ongoing training programs for basic online security (including new cybercrime trends) and the promotion of a culture of information security (e.g. when using smart mobile devices to store and access sensitive data) among staff. Such initiatives will enable staff employed in the (South Australian) real estate sector to maintain the current knowledge of the latest cybercrime activities and the best cyber security protection measures available. Originality/value – This is the first academic study focusing on the real estate organisations in South Australia. The findings will contribute to the evidence on the information security threats faced by the sector as well as in develop sector-specific information security risk management guidelines.

Construction material supply risk management using Asian option contracts: the case of a pipeline project

2020 ◽  
Vol 27 (10) ◽  
pp. 3395-3414
Author(s):  
Mohammad Vahdatmanesh ◽  
Afshin Firouzi
Keyword(s):  
Risk Management ◽  
Scenario Analysis ◽  
Price Risk ◽  
Asian Option ◽  
Steel Pipeline ◽  
Content Type ◽  
Price Fluctuations ◽  
Option Contracts ◽  
Pipeline Project ◽  
Total Price

PurposeSteel price uncertainty exposes pipeline projects that are inherently capital intensive to the risk of cost overruns. The current study proposes a hedging methodology for tackling steel pipeline price risk by deploying Asian option contracts that address the shortcomings of current risk mitigation strategies.Design/methodology/approachA stepwise methodology is introduced, which uses a closed-form formula as an Asian option valuation method for calculating this total expenditure. The scenario analysis of three price trends examines whether or not the approach is beneficial to users. The sensitivity analysis then has been conducted using the financial option Greeks to assess the effects of changes in volatility in the total price of the option contracts. The total price of the Asian options was then compared with those of the European and American options.FindingsThe results demonstrate that the Asian option expenditure was about 1.87% of the total cost of the case study project. The scenario analysis revealed that, except for when the price followed a continuous downward pattern, the use of this type of financial instrument is a practical approach for steel pipeline price risk management.Practical implicationsThis approach is founded on a well-established financial options theory and elucidates how pipeline project participants can deploy Asian option contracts to safeguard against steel price fluctuations in practice.Originality/valueAlthough the literature exists about the theory and application of financial derivative instruments for risk management in other sectors, their application to the construction industry is infrequent. In the proposed methodology, all participants involved in fixed price pipeline projects readily surmount the risk of exposure to material price fluctuations.

Do disclosure and transparency affect bank’s financial performance?

2019 ◽  
Vol 19 (6) ◽  
pp. 1344-1361
Author(s):  
Isaiah Oino
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Financial Performance ◽  
Financial Institutions ◽  
Content Type ◽  
Loan Portfolios ◽  
Cent Level ◽  
Transparency And Disclosure ◽  
The Impact

Purpose The purpose of this paper is to examine the impact of transparency and disclosure on the financial performance of financial institutions. The emphasis is on assessing transparency and disclosure; auditing and compliance; risk management as indicators of corporate governance; and understanding how these parameters affect bank profitability, liquidity and the quality of loan portfolios. Design/methodology/approach A sample of 20 financial institutions was selected, with ten respondents from each, yielding a total sample size of 200. Principal component analysis (PCA), with inbuilt ability to check for composite reliability, was used to obtain composite indices for the corporate governance indicators as well as the indicators of financial performance, based on a set of questions framed for each institution. Findings The analysis demonstrates that greater disclosure and transparency, improved auditing and compliance and better risk management positively affect the financial performance of financial institutions. In terms of significance, the results show that as the level of disclosure and transparency in managerial affairs increases, the performance of financial institutions – as measured in terms of the quality of loan portfolios, liquidity and profitability – increases by 0.3046, with the effect being statistically significant at the 1 per cent level. Furthermore, as the level of auditing and the degree of compliance with banking regulations increases, the financial performance of banks improves by 0.3309. Research limitations/implications This paper did not consider time series because corporate governance does not change periodically. Practical implications This paper demonstrates the importance of disclosure and transparency in managerial affairs because the performance of financial institutions, as measured in terms of loan portfolios, liquidity and profitability, increases by 0.4 when transparency and disclosure improve, with this effect being statistically significant at the 1 per cent level. Originality/value The use of primary data in assessing the impact of corporate governance on financial performance, instead of secondary data, is the primary novelty of this study. Moreover, PCA is used to assess the weight of the various parameters.

The inseparable nature of working and learning: peripheral management practice that facilitates employee learning

2014 ◽  
Vol 28 (5) ◽  
pp. 10-12 ◽  
Author(s):  
Jay Andrew Cohen
Keyword(s):  
Management Practices ◽  
Management Practice ◽  
Point Of View ◽  
Management Activity ◽  
Content Type ◽  
Employee Learning ◽  
Frontline Managers ◽  
Social Act ◽  
Practical Implications ◽  
Good Manager

Purpose – This paper aims to look at the peripheral management practice that facilitates employee learning. Such management practices are embedded or inseparable to working and being a good manager. Design/methodology/approach – Point of view. Findings – For many frontline managers and their employees, the separation between working and learning is often not apparent. There appears to be no clear distinction between when they are working and when they are learning. Practical implications – Better development of organizational managers. Originality/value – This paper highlights the informal nature of learning and working and builds on the understanding that much of the learning that occurs at work occurs as part of a social act, often involving managers and their employees. In this way, employee learning that is identified and facilitated by frontline managers is so often entwined in other management activity. Furthermore, this paper outlines some practical actions that organizations can undertake to aid greater frontline management involvement in employee learning.

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