Research on Risk Assessment and Risk Management: Future Directions

1990 ◽  
Vol 6 (5) ◽  
pp. 217-233 ◽  
Author(s):  
L. D. Grant ◽  
A. M. Jarabek
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Environmental Protection Agency ◽  
Research Strategy ◽  
Assessment Process ◽  
Future Directions ◽  
Management Area ◽  
Trade Names ◽  
Public Health Protection ◽  
Full Utilization

This paper has been reviewed by the Office of Health and Environmental Assessment, U.S. Environmental Protection Agency, and approved for publication. Approval does not signify that the contents necessarily reflect the views and policies of the Agency, nor does mention of trade names or commercial products constitute endorsement or recommendation for use. The U.S. EPA has increasingly relied upon quantitative health risk assessments as the basis for management decisions about public health protection. Full utilization of risk assessment in management applications, however, is limited by uncertainties in the resultant accuracy of the risk estimates. This paper will discuss a research strategy to address the uncertainties in the risk assessment process and describe parallel issues to address in the risk management area. An attendant need for effective communication of complex scientific concepts is also identified.

scholarly journals Paleoenvironmental Reconstructions Improve Ecosystem Services Risk Assessment: Case Studies from Two Coastal Lagoons in South America

Water ◽  
2018 ◽  
Vol 10 (10) ◽  
pp. 1350 ◽  
Author(s):  
Maria Velez ◽  
Daniel Conde ◽  
Juan Lozoya ◽  
James Rusak ◽  
Felipe García-Rodríguez ◽  
...  
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Ecosystem Services ◽  
South America ◽  
Coastal Lagoons ◽  
Holistic Approach ◽  
Assessment Process ◽  
History Of ◽  
Paleoenvironmental Reconstructions

Paleoenvironmental reconstructions are increasingly being used in conservation biology, ecosystem management, and evaluations of ecosystem services (ES), but their potential to contribute to the ES risk assessment process has not been explored. We propose that the long-term history of the ecosystem provides valuable information that augments and strengthens an ES risk assessment and that it should be considered routinely when undertaking risk assessments. We adjusted a standard ecosystem-based risk management (EBRM) protocol to include paleoenvironmental data, and tested the modified approach on two coastal lagoons in South America. Paleolimnological reconstructions in both lagoons indicate that salinity and nutrients (in Laguna de Rocha), and salinity (in Ciénaga Grande de Santa Marta), as controlled by hydrologic connectivity with the ocean and freshwater tributaries, have been the key variables behind ecosystem’s function. This understanding, applied to inform various components and steps in the EBRM protocol, suggests that the maintenance of hydrological connections should be a management priority to minimize risk to ES. This work illustrates the utility of including paleoenvironmental data in an EBRM context and highlights the need for a more holistic approach to risk management by incorporating the long-term history of ecosystem function.

ENVIRONMENTAL RISK MANAGEMENT: A PROPOSED SCHEME

1997 ◽  
Vol 37 (1) ◽  
pp. 714
Author(s):  
H.B. Goff ◽  
R.K. Steedman
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Environmental Risk ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Transport Processes ◽  
Assessment Process ◽  
Gas Industry ◽  
Environmental Risk Management ◽  
The Impact

Environmental risk assessment is becoming an increasingly important factor in the assessment process for new projects. The oil and gas industry is familiar with assessing and managing risks from a wide range of sources. In particular, risk assessment and management is fundamental to the evaluation and implementation of Safety cases. Risk assessment is essential in valuing exploration acreage. Various industry and government risk management standards and criteria have been developed for public and occupational health and safety.This paper examines the extension of these approaches to environmental risk management for the offshore oil and gas industry and proposes a conceptual management scheme.We regard risk as the probability of an event occurring and the consequences of that event. The risk is classified into four categories, namely:primary risk, which relates to the mechanical oilfield equipment;secondary risk, which relates to the natural transport processes. For example dispersion of oil in the water column and surrounding sea;the tertiary risk, which relates to the impact on some defined part of the physical, biological or social environment; andthe quaternary risk, which relates to the recovery of the environment from any impact.Generally the methods of quantitatively analysing primary and secondary risks are well known, while there remains considerable uncertainty surrounding the tertiary and quaternary risk and they are at best qualitative only. An example of the method is applied to coral reef and other sensitive areas which may be at risk from oil spills.This risk management scheme should assist both operators and regulators in considering complex environmental problems which have an inherent uncertainty. It also proves a systematic approach on which sound environmental decisions can be taken and further research and analysis based. Perceived risk is recognised, but the management of this particular issue is not dealt with.

scholarly journals 434 Environmental Risk Assessment—A Nutrient Management Planning Strategy For Nursery and Greenhouse Systems

HortScience ◽  
2000 ◽  
Vol 35 (3) ◽  
pp. 468C-468
Author(s):  
John D. Lea-Cox
Keyword(s):  
Risk Factors ◽  
Risk Assessment ◽  
Risk Management ◽  
Nutrient Management ◽  
Planning Process ◽  
Nutrient Loss ◽  
Assessment Process ◽  
Management Options ◽  
Management Planning ◽  
Nutrient Runoff

In 1998, the state of Maryland adopted some of the toughest nutrient management planning regulations in the Nation, requiring virtually all agricultural operations plan and implement nitrogen and phosphorus-based management plans by Dec. 2002. The nursery and greenhouse industry is faced with a far more complicated nutrient management planning process than traditional agronomic planning scenarios. Factors include a large number (>500) of plant species, various fertilization and irrigation strategies, with crop cycles ranging from 6 weeks (bedding plants) to upwards of 15 years for some tree species in field production, often with a lack of knowledge of specific nutrient uptake rates and utilization. In addition, unique infrastructural and site characteristics that contribute to water and nutrient runoff from each nursery contribute to a multitude of variables that should be considered in the planning process. The challenge was to identify a simple, effective process for nutrient management planning that would a) provide an accurate assessment of nutrient loss potential from this wide variety of production scenarios, b) identify those specific factors that contribute most to nutrient leaching and runoff, and c) provide a mechanism to economically assess the various risk management (mitigation) scenarios. This risk assessment process provides information on a number of fixed (site) and dynamic (management) variables for soils/substrates, irrigation and fertilization practices, together with any surface water management systems (e.g. containment ponds, riparian buffers). When all the risk factors for a nursery are evaluated and scored, the complete picture of risk assessment then emerges. By identifying higher risk factors and evaluating different risk management options, the grower and/or nutrient management planner can then choose economic alternatives to reduce the potential for nutrient runoff.

Formalizing Integrity Management Workflows: Towards Integrity Process Modelling

2018 ◽  
Author(s):  
Alejandro Reyes ◽  
Otto Huisman
Keyword(s):  
Risk Assessment ◽  
Decision Making ◽  
Risk Management ◽  
Business Process ◽  
Asset Management ◽  
Process Model ◽  
Business Processes ◽  
Building Blocks ◽  
Assessment Process ◽  
Integrity Management

Workflows are the fundamental building blocks of business processes in any organization today. These workflows have attributes and outputs that make up various Operational, Management and Supporting processes, which in turn produce a specific outcome in the form of business value. Risk Assessment and Direct Assessment are examples of such processes; they define the individual tasks integrity engineers should carry out. According to ISO 55000, achieving excellence in Asset Management requires clearly defined objectives, transparent and consistent decision making, as well as a long-term strategic view. Specifically, it recommends well-defined policies and procedures (processes) to bring about performance and cost improvements, improved risk management, business growth and enhanced stakeholder confidence through compliance and improved reputation. In reality, such processes are interpreted differently all over the world, and the workflows that make up these processes are often defined by individual engineers and experts. An excellent example of this is Risk Assessment, where significant local variations in data sources, threat sources and other data elements, require the business to tailor its activities and models used. Successful risk management is about enabling transparent decision-making through clearly defined process-steps, but in practice it requires maintaining a degree of flexibility to tailor the process to the specific organizational needs. In this paper, we introduce common building blocks that have been identified to make up a Risk Assessment process and further examine how these blocks can be connected to fulfill the needs of multiple stakeholders, including data administrators, integrity engineers and regulators. Moving from a broader Business Process view to a more focused Integrity Management view, this paper will demonstrate how to formalize Risk Assessment processes by describing the activities, steps and deliverables of each using Business Process Model and Notation (BPMN) as the standard modeling technique and extending it with an integrity-specific notation we have called Integrity Modelling Language or IML. It is shown that flexible modelling of integrity processes based on existing standards and best practices is possible within a structured approach; one which guides users and provides a transparent and auditable process inside the organization and beyond, based on commonalities defined by best practice guidelines, such as ISO 55000.

Impact of supply risk management on firm performance: a case of the Indian electronics industry

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ramesh KT ◽  
Sarada Prasad Sarmah
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Firm Performance ◽  
Electronics Industry ◽  
Risk Identification ◽  
Assessment Process ◽  
Supply Risk ◽  
Content Type ◽  
Risk Monitoring ◽  
Indian Electronics Industry

PurposeThe purpose of this research is to study and examine the influence of systematic supply risk management (SRM) on the buyer's firm performance, mainly focussing on the Indian electronics industry.Design/methodology/approachThe study has framed a set of hypotheses on the risk management model. A thorough literature review and experts' opinion were considered in framing constructs and hypothesis for the model. We adopted self-administration questionnaires mainly focusing on the Indian electronics industry. The derived hypothesis is tested using partial least squares (PLS) method from 140 survey data pertaining to small, medium and large scale industries.FindingsStudy justify that constructs with high loadings for risk identification, risk assessment, risk reduction, and risk monitoring supports all hypothesized relation to better risk management. The model captures superior risk identification, risk control and risk monitoring for overall firm performance, but fails to justify with organization supply risk assessment process on overall firm performance.Research limitations/implicationsThe study mainly focused on SRM process on firm performance. Study mainly focused on single survey responses and expert's perceptions on SRM practices in Indian electronics industry.Practical implicationsResearch empirically justifies the effects of SRM process on organization performance. Furthermore, effective SRM practices assist decision makers framing corrective strategies to mitigate risk occurrences and their negative impact.Originality/valueThis empirical work provides a deep understanding of SRM process on the Indian electronics industry and their perception towards firm performance. Moreover, this is one of the few empirical studies addressing SRM practices in the Indian electronics industry.

The Development of a Knowledge Based System for the Process of Risk Assessment in the Workplace

2013 ◽  
Vol 446-447 ◽  
pp. 1314-1320 ◽  
Author(s):  
Petr Baron ◽  
Stanislava Šoltésová ◽  
Marek Kočiško
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Systematic Approach ◽  
Risk Identification ◽  
Point Of View ◽  
Assessment Process ◽  
Complex Method ◽  
Work Safety ◽  
Knowledge Based ◽  
Safety And Health

Paper describes possibilities of automatization of risk assessment process on technological workshops from work safety and health protection point of view. Proposed computer system could unload members of reviewing team from routine and repeating activities which are applied in process of risk identification and assessment of observed workplaces. Paper characterizes possibilities of work within form for application of Complex method of risk management on workshops. Developed system represents active part of systematic approach in frame of complex risk management.

scholarly journals A critique of the use of hormesis in risk assessment

2005 ◽  
Vol 24 (5) ◽  
pp. 249-253 ◽  
Author(s):  
Kirk T Kitchin ◽  
J Wanzer Drane
Keyword(s):  
Risk Assessment ◽  
Dose Response ◽  
A Priori ◽  
Assessment Process ◽  
Data Sets ◽  
Response Curves ◽  
Dose Response Curves ◽  
Post Hoc ◽  
Public Health Protection ◽  
Default Assumption

There are severe problems and limitations with the use of hormesis as the principal dose-response default assumption in risk assessment. These problems and limitations include: (a) unknown prevalence of hormetic doseresponse curves; (b) random chance occurrence of hormesis and the shortage of data on the repeatability of hormesis; (c) unknown degree of generalizability of hormesis; (d) there are dose-response curves that are not hormetic, therefore hormesis cannot be universally generalized; (e) problems of post hoc rather than a priori hypothesis testing; (f) a possible large problem of ‘false positive’ hormetic data sets which have not been extensively replicated; (g) the ‘mechanism of hormesis’ is not understood at a rigorous scientific level; (h) in some cases hormesis may merely be the overall sum of many different mechanisms and many different dose-response curves - some beneficial and some toxic. For all of these reasons, hormesis should not now be used as the principal dose-response default assumption in risk assessment. At this point, it appears that hormesis is a long way away from common scientific acceptance and wide utility in biomedicine and use as the principal default assumption in a risk assessment process charged with ensuring public health protection.

PRACTICAL APPLICATION OF ENVIRONMENTAL RISK MANAGEMENT-GORGON LNG PROJECT CASE STUDY

1999 ◽  
Vol 39 (1) ◽  
pp. 606 ◽  
Author(s):  
R.T. Stoklosa
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Ecological Risk ◽  
Environmental Risk ◽  
Petroleum Industry ◽  
Project Planning ◽  
Assessment Process ◽  
Clear Understanding ◽  
Environmental Risk Management

Stoklosa Engineering has been working with the petroleum industry to develop an environmental risk management methodology that can be generally applied to petroleum industry activities. In particular, the methodology is for assessing and managing ecological risk in sensitive marine environments.This paper introduces a management and technical methodology for the risk assessment process that has been applied to planning scenarios for the Gorgon LNG Project. The methodology has evolved from earlier efforts by petroleum operators and government in Western Australia to quantify ecological risk. The principles of Standards Australia risk management publications, State risk management initiatives and international approaches have been preserved in the methodology.The basis for a quantitative analysis of the likelihood of an incident is described, with a qualitative or semiquantitative analysis of the severity of the potential consequences. The technical approach adopts the principles of AS/NZS 4360 for risk management, and characterises risk for decision makers in an unambiguous manner. The methodology leads to a clear understanding of the benefits of risk management, and allows proponents the opportunity to reduce risk to acceptable levels. The risks of development should be interpreted in the context of naturally occurring hazards to environmental systems (e.g. cyclones and coral spawning slicks), human activities (e.g. recreation, fisheries and aquaculture), and the natural variability of ecosystems.The Gorgon LNG Project case study characterises risk in terms of credible incident scenarios and baseline operational activities from project planning scenarios. The inputs to the risk assessment are release scenarios, fate and transport modelling, response mechanisms in sensitive species, and recovery mechanisms following exposure. The methodology can be broadly applied to offshore and onshore development projects and environmental management programs, as it is presented as a repeatable process that can incorporate various types of risk analysis methods.

Information Technology Project Risk Management: Bridging the Gap between Research and Practice

2012 ◽  
Vol 27 (1) ◽  
pp. 17-34 ◽  
Author(s):  
Hazel Taylor ◽  
Edward Artman ◽  
Jill Palzkill Woelfer
Keyword(s):  
Risk Assessment ◽  
Information Technology ◽  
Risk Management ◽  
Assessment Process ◽  
Project Risk Management ◽  
It Projects ◽  
Project Risk ◽  
Research And Practice ◽  
Risk Assessment Process ◽  
It Project

The gap between research and practice is strikingly evident in the area of information technology (IT) project risk management. In spite of extensive research for over 30 years into IT project risk factors resulting in normative guidance on IT project risk management, adoption of these risk management methods in practice is inconsistent. Managing risk in IT projects remains a key challenge for many organizations. We discuss barriers to the application of normative prescriptions, such as assessments of probability and impact of risk, and suggest a contingency approach, which addresses the uncertainties, complexities, and ambiguities of IT projects and enables early identification of high-risk projects. Specifically, in a case study, we examine how the project management office (PMO) at one organization has bridged the gap between research and practice, developing a contingency-based risk assessment process well founded on research knowledge of project dimensions related to project performance, while also being practical in its implementation. The PMO's risk assessment process, and the risk spider chart that is the primary tool in this assessment, has proven to be effective for surfacing inherent risk at the early stages of IT projects, thereby enabling the recommendation of appropriate management strategies. The PMO's project risk assessment process is a model for other organizations striving to engage in effective and collaborative practices in order to improve project outcomes. The case illustrates the importance of considering the practical constraints of the context of application in order to transform research findings into practices that promote attainment of desired outcomes.

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