Risk Assessment and Risk Mitigation Activities in the SDLC

2008 ◽  
pp. 217-232
Keyword(s):  
Risk Assessment ◽  
Risk Mitigation

scholarly journals Explosion risk assessment model for underground mine atmosphere

2016 ◽  
Vol 35 (1) ◽  
pp. 21-35 ◽  
Author(s):  
Jianwei Cheng ◽  
Xixi Zhang ◽  
Apurna Ghosh
Keyword(s):  
Risk Assessment ◽  
Risk Mitigation ◽  
Influence Factors ◽  
Safety Margin ◽  
Mining Industry ◽  
Critical Time ◽  
Underground Mine ◽  
Time Span ◽  
Assessment Model ◽  
Explosion Risk

In the coal mining industry, explosions or mine fires present the most hazardous safety threats for coal miners or mine rescue members. Hence, the determination of the mine atmosphere explosibility and its evolution are critical for the success of mine rescues or controlling the severity of a mine accident. However, although there are numbers of methods which can be used to identify the explosibility, none of them could well indicate the change to the explosion risk time evolution. The reason is that the underground sealed atmospheric compositions are so complicated and their dynamical changes are also affected by various influence factors. There is no one method that could well handle all such considerations. Therefore, accurately knowing the mine atmospheric status is still a complicated problem for mining engineers. Method of analyzing the explosion safety margin for an underground sealed atmosphere is urgently desired. This article is going to propose a series of theoretical explosion risk assessment models to fully analyze the evolution of explosion risk in an underground mine atmosphere. Models are based on characteristics of the Coward explosibility diagram with combining mathematical analyzing approaches to address following problems: (1) for an “not-explosive” atmosphere, judging the evolution of explosion risk and estimating the change-of-state time span from “not-explosive” to “explosive” and (2) for an “explosive” atmosphere, estimating the “critical” time span of moving out of explosive zone and stating the best risk mitigation strategy. Such research efforts could not only help mine operators understand the explosibility risk of a sealed mine atmosphere but also provide a useful tool to wisely control explosive atmosphere away from any dangers. In order to demonstrate research findings, case studies for derived models are shown and are also used to instruct readers how to apply them. The results provide useful information for effectively controlling an explosive underground sealed atmosphere.

Development of An Exposure Model for Bridge Structures in Northern Algeria

2018 ◽  
Author(s):  
Andrés Abarca ◽  
Ricardo Monteiro
Keyword(s):  
Risk Assessment ◽  
Large Scale ◽  
Risk Mitigation ◽  
Regional Scale ◽  
Mitigation Measures ◽  
Exposure Model ◽  
Building Stock ◽  
Earthquake Scenarios ◽  
Northern Algeria ◽  
Bridge Structures

In recent years, the use of large scale seismic risk assessment has become increasingly popular to evaluate the fragility of a specific region to an earthquake event, through the convolution of hazard, exposure and vulnerability. These studies tend to focus on the building stock of the region and sometimes neglect the evaluation of the infrastructure, which has great importance when determining the ability of a social group to attend to a disaster and to eventually resume normal activities. This study, developed within the scope of the EU-funded project ITERATE (Improved Tools for Disaster Risk Mitigation in Algeria), focuses on the proposal of an exposure model for bridge structures in Northern Algeria. The proposed model was developed using existing national data surveys, as well as satellite information and field observations. As a result, the location and detailed characterization of a significant share of the Algeria roadway bridge inventory was developed, as well as the definition of a taxonomy that is able to classify the most common structural systems used in Algerian bridge construction. The outcome of this study serves as input to estimate the fragility of the bridge infrastructure inventory and, furthermore, to the overall risk assessment of the Northern Algerian region. Such fragility model will, in turn, enable the evaluation of earthquake scenarios at a regional scale and provide valuable information to decision makers for the implementation of risk mitigation measures.

A Risk Framework for Munitions and Explosives of Concern in Support of U.S. Offshore Wind Energy Development

2019 ◽  
Vol 53 (2) ◽  
pp. 6-20 ◽  
Author(s):  
Geoffrey Carton ◽  
Carter DuVal ◽  
Arthur Trembanis
Keyword(s):  
Risk Assessment ◽  
Wind Energy ◽  
Hazard Assessment ◽  
Risk Mitigation ◽  
Energy Generation ◽  
Offshore Wind ◽  
Offshore Wind Energy ◽  
Wind Energy Generation ◽  
Operation And Maintenance ◽  
Risk Framework

AbstractMunitions and explosives of concern (MEC) in U.S. waters can present a risk to the development and operation of offshore wind energy resources. Therefore, the U.S. Bureau of Ocean Energy Management requires offshore wind energy developers to evaluate the risk MEC poses to the development, operation, and maintenance of offshore wind energy generation and transmission systems. This article describes an MEC risk management framework consisting of the following steps: (1) MEC hazard assessment, (2) MEC risk assessment, (3) MEC risk validation, and (4) MEC risk mitigation. The MEC hazard assessment involves historical research to identify MEC potentially present in the development area. The MEC risk assessment evaluates the development activities and provides a relative MEC risk ranking for those activities. The developer determines the acceptability of these risks, and any potentially unacceptable MEC risks undergo risk validation through field surveys. The developer then considers the tolerability of the validated risks and develops and implements an appropriate MEC risk mitigation strategy based on actual site conditions. A risk framework provides a structured method to plan and operationalize the identification, evaluation, and mitigation of MEC risk throughout the development, operation, and maintenance life cycle of an offshore wind energy generation and transmission project.

Credit Risk Management of Commercial Banks in Nepal

2019 ◽  
Vol 4 (1) ◽  
pp. 27-37
Author(s):  
Shreya Pradhan ◽  
Ajay K. Shah
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Credit Risk ◽  
Commercial Banks ◽  
Management Practices ◽  
Risk Mitigation ◽  
Mitigation Measures ◽  
Credit Risk Management ◽  
Loan Repayment ◽  
Credit Risk Assessment

The study is primarily focused on credit risk assessment practices in commercial banks on the basis of their internal efficiency, assessment of assets and borrower. The model of the study is based on the analysis of relationship between credit risk management practices, credit risk mitigation measures and obstacles and loan repayment. Based on a descriptive research approach the study has used survey-based primary data and performed a correlation analysis on them. It discovered that credit risk management practices and credit risk mitigation measures have a positive relationship with loan repayment, while obstacles faced by borrowers have no significant relationship with loan repayment. The study findings can provide good insights to commercial bank managers in analysing their model of credit risk management system, policies and practices, and in establishing a profitable and sustainable model for credit risk assessment, by setting a risk tolerance level and managing credit risks vis-a-vis the prevailing market competition.

scholarly journals Risk Assessment of Additional Works in Railway Construction Investments Using the Bayes Network

2019 ◽  
Vol 11 (19) ◽  
pp. 5388 ◽  
Author(s):  
Agnieszka Leśniak ◽  
Filip Janowiec
Keyword(s):  
Risk Assessment ◽  
Construction Projects ◽  
Risk Mitigation ◽  
Management Strategies ◽  
Risk Identification ◽  
Bayes Network ◽  
Risk Management Strategies ◽  
Significant Extension ◽  
Development Goals ◽  
Mitigation Methods

The implementation of railway infrastructure construction projects including sustainable development goals is a complex process characterized by a significant extension of individual investment stages. The need for additional works has a big impact on construction railway projects, representing a risk which is the result of many different factors. During the execution of works, both the design assumptions and the conditions of the project’s implementation can be changed. An attempt to eliminate potential risks is a key element of construction projects. The article proposes a proprietary management method for the risk of additional works in railway projects. A methodology for creating risk management strategies using a standard algorithm that includes risk identification, risk analysis, and risk assessment is presented. The original elements of the work include risk identification followed by analysis using Bayesian networks. Using the example of a scenario of events, it is shown that a well-programmed network can be used to implement risk mitigation methods. Using the network, it is possible to compare different ways to reduce risk, check the effect of reducing the risk factors, and determine a satisfactory level of effects, e.g., increased financial resources as a result of additional works.

The Information Technology Outsourcing Risk: A Transaction Cost and Agency Theory-Based Perspective

2003 ◽  
Vol 18 (3) ◽  
pp. 211-221 ◽  
Author(s):  
Bouchaib Bahli ◽  
Suzanne Rivard
Keyword(s):  
Risk Assessment ◽  
Information Technology ◽  
Agency Theory ◽  
Transaction Cost ◽  
Risk Mitigation ◽  
It Outsourcing ◽  
Assessment Framework ◽  
Specific Context ◽  
Point Of Departure ◽  
It Operations

Many firms have adopted outsourcing in recent years as a means of governing their information technology (IT) operations. While outsourcing is associated with significant benefits, it can also be a risky endeavour. This paper proposes a scenario-based conceptualization of the IT outsourcing risk, wherein risk is defined as a quadruplet comprising a scenario, the likelihood of that scenario, its consequences and the risk mitigation mechanisms that can attenuate or help avoid the occurrence of a scenario. This definition draws on and extends a risk assessment framework that is widely used in engineering. The proposed conceptualization of risk is then applied to the specific context of IT outsourcing using previous research on IT outsourcing as well as transaction cost and agency theory as a point of departure.

Arc flash: a risk assessment and mitigation strategy

2011 ◽  
Vol 51 (2) ◽  
pp. 737
Author(s):  
Danny Norton ◽  
Dale Wright
Keyword(s):  
Risk Assessment ◽  
Oil And Gas ◽  
Capital Expenditure ◽  
Risk Mitigation ◽  
Cumulative Effect ◽  
Mitigation Strategy ◽  
Assessment Process ◽  
Mitigation Measures ◽  
Safe Work ◽  
Arc Flash

Oil and gas facility managers are well aware that attention to detail saves lives and supports business continuity and reputation. Those tasked with stewardship of electrical assets will be aware of the need to protect their employees from the hazard of electrical arc flash and that it should be at the forefront of safety thinking. Complacency and lack of duty of care with this real and possibly un-quantified hazard can lead to fatalities. The primary solution to arc flash consequences in older installations has been the implementation of safe work procedures and personal protective equipment. While still valid, these solutions are the least effective options in the hierarchy of controls. SKM have developed a practical risk mitigation strategy that considers the hazards of prospective arc flash energy together with the cumulative effect of switchboard age, design, capability and condition. The strategy also considers the range of potential mitigation controls available through the mechanism of substitution and engineering design that focuses on reducing: The likelihood of an arc flash incident occurring; The likelihood of personnel exposure; and, The energy released should an incident occur. A structured arc flash risk assessment process can provide the asset owner the opportunity to rank individual switchboards for likelihood, consequence and risk, and thus provide direction for engineered remediation and capital expenditure. SKM proposes the way in which arc flash risk can be assessed, how appropriate layered mitigation measures might be selected, and how an asset owner may approach the issue of arc flash hazard mitigation to economically and reliably protect its employees.

Enhanced Leak Detection Risk Model Development

2010 ◽  
Author(s):  
Lorna Harron ◽  
Rick Barlow ◽  
Ted Farquhar
Keyword(s):  
Risk Assessment ◽  
Risk Model ◽  
Risk Mitigation ◽  
Detection System ◽  
Leak Detection ◽  
Mitigation Strategies ◽  
Assessment Model ◽  
Flow Meter ◽  
The Matrix ◽  
Risk Mitigation Strategies

Increasing concerns and attention to pipeline safety have engaged pipeline companies and regulatory agencies to extend their approaches to pipeline integrity. The implementation of High Consequence Areas (HCAs) has in particular had an impact on the development of integrity management protocols (IMPs) for pipelines. These IMPs can require that a risk based assessment of integrity issues be applied to specific HCA risk factors. This paper addresses the development of an operational risk assessment approach for pipeline leak detection requirements for HCAs. A detailed risk assessment algorithm that includes 25 risk variables and 28 consequence variables was developed for application to all HCA areas. The significant likelihood and consequence factors were chosen through discussions with the Leak Detection Risk Assessment Model Working Group and subject matter experts throughout Enbridge. The leak detection algorithm focuses on sections of pipe from flow meter to flow meter, as these are the locations that impact the leak detection system used by Enbridge. Each section of pipe is evaluated for likelihood, consequence and risk. When a high or medium risk area has been identified, an evaluation of potential Preventive and Mitigative (P&M) measures will be undertaken. A P & M Matrix has been developed to identify potential mitigation strategies to be considered for higher risk variables, called risk drivers, in the model. The matrix has been developed to identify potential risk mitigation strategies to consider for each variable used in the HCA Leak Detection Risk Assessment. The purpose of the matrix is to guide the user to consider actions identified for variables that drive the risk for the particular location. Upon review of the matrix, the user determines feasibility of the risk mitigation strategies being considered to identify an action. The paper will describe the consultative process that was used to workshop the development of this algorithm. Included in this description is how the process addressed various methods of leak detection across a wide variety of pipelines. The paper closes with “development challenges” and future steps in applying operation risk assessment techniques to mainline leak detection risk management.

Risk Analysis of Power-Gen Gas Turbines With GADS Outage Data

2017 ◽  
Author(s):  
Bin Zhou
Keyword(s):  
Risk Assessment ◽  
Risk Analysis ◽  
Gas Turbine ◽  
Gas Turbines ◽  
Risk Mitigation ◽  
Data System ◽  
Loss Prevention ◽  
The Past ◽  
The North ◽  
Effective Assessment

According to FM Global proprietary data, power-gen gas turbine losses have consistently represented a dominant share of the overall equipment-based loss value over the past decade. Effective assessment of loss exposure or risk related to gas turbines has become and will continue to be a critical but challenging task for property insurers and their clients. Such systematic gas turbine risk assessment is a necessary step to develop strategies for turbine risk mitigation and loss prevention. This paper presents a study of outage data from the Generating Availability Data System (GADS) by the North American Electric Reliability Corporation (NERC). The risk of forced outages in turbines was evaluated in terms of outage days and number of outages per unit-year. In order to understand the drivers of the forced outages, the influence of variables including turbine age, capacity, type, loading characteristic, and event cause codes were analyzed by grouping the outage events based on the chosen values (or ranges of values) of these variables. A list of major findings related to the effect of these variables on the risk of forced outage is discussed.

A Risk Assessment Framework for Airport Development Projects

2018 ◽  
Vol 2672 (29) ◽  
pp. 35-47
Author(s):  
Anna Hopper
Keyword(s):  
Risk Assessment ◽  
Financial Risk ◽  
Risk Mitigation ◽  
Mitigation Strategies ◽  
Development Projects ◽  
Assessment Framework ◽  
Risk Mitigation Strategies ◽  
Risk Forecast ◽  
Risk Determinants ◽  
Development Risk

This paper develops a risk assessment framework for airport development projects. It discusses the major types of inherent development risk, including political risk, environmental risk, financial risk, airline risk, forecast risk, and regulatory or operational risk, and it offers suggestions for risk mitigation strategies. Furthermore, it identifies and analyzes relative risk determinants, which affect the magnitude and type of risk that development projects will likely face. These include the presence of a dominant airline, the airport’s rate structure, the airport’s ownership and operating structure, local demand, and geopolitical events. These factors and their interconnected relationships are illustrated through case studies of relevant airport development projects.

Sign in / Sign up

Export Citation Format

Share Document