scholarly journals RISK ANALYSIS AND MANAGEMENT OF PROCUREMENT ACTIVITIES IN ELEMENTARY SCHOOL BOOK PRINTING PROJECT USING HOUSE OF RISK METHOD

2021 ◽  
Vol 16 (4) ◽  
pp. 225-229
Author(s):  
Ananda Vania Arisa Putri ◽  
Rheza Aulia Ramadhan ◽  
Bambang Purwanggono Sukarsono
Keyword(s):  
Risk Management ◽  
Elementary School ◽  
Risk Analysis ◽  
Risk Evaluation ◽  
Raw Materials ◽  
Mitigation Measures ◽  
Management Effort ◽  
School Books ◽  
The Impact ◽  
Risk Analysis And Management

Risk management is a management effort to control the company's risk operations by conducting risk analysis, risk evaluation and mitigation plan. Risk management efforts are feasible to be applied to the company's business activities including procurement activities. PT XYZ is one of the printing companies whose main demand is the printing of Elementary School Books. There is a decrease in demand that results in disruption to the company's cash flow so that a tight money policy is applied to every company's activity including procurement activities. This policy increases the risk that may occur, so risk management efforts are needed to minimize the impact that can occur. The House of Risk method is used to identify risk events and risk agents that cause them, and design mitigation measures to address those risk agents. The results showed that there were 10 risk events and 10 identified risk agents, with priority risk agents to be handled are A1 (volume and type of raw materials are incorrect) and A3 (communication interruption). There are 5 recommended mitigation measures.

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.

scholarly journals The UAVs threat to airport security: risk analysis and mitigation

2019 ◽  
Vol 9 (2) ◽  
pp. 63 ◽  
Author(s):  
John Pyrgies
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Mitigation Measures ◽  
Airport Security ◽  
Negative Consequences ◽  
Security Risk ◽  
Risk Matrix ◽  
Safety Risk ◽  
Risk Management Process ◽  
Different Sources

Purpose: This research studies the UAV incidents in the vicinity of worldwide airports in order to deliver a quantitative and qualitative analysis of this phaenomenon, to analyse the risks associated to this threat and propose mitigation measures that brings this risk to an ‘acceptable’ level.Methodology: A population of 139 ‘serious UAV incidents in the vicinity of worldwide airports’ has been constituted on the basis of the FAA and NASA databases and articles published on the Web by online media. This phaenomenon has then been analysed quantitatively using descriptive statistics techniques and qualitatively by analysing in-depth some representative incidents. A risk analysis has then been performed based on the FAA Safety Risk Management 5-steps process to identify the hazards i.e. the root causes of those UAV incidents, determine their outcome i.e. negative consequences that jeopardize airports objectives and assign them a severity level and likelihood i.e. frequency level. Analysed risks have then been assessed based on FAA ARP Risk Matrix. Mitigation measures (prevention, deterrence, denial, detection, neutralisation) have been identified following a ‘Defence-in-Depth’ approach.Findings: The findings of the study are that those UAV incidents are more numerous than anticipated and happen higher and further from the airports than expected: they happen not only in CTRs but also in TMAs. This has an impact on the mitigation measures that shall not only be deployed at airports side but also be on-boarded in manned aircrafts.Originality: To our knowledge, no study has combined different sources to constitute such a population focused on ‘serious’ UAVs incidents around airports worldwide, has applied the official FAA Safety Risk Management process to assess this risk and followed a structured ‘Defence-in-Depth’ approach typically used in Cybersecurity to mitigate this risk.Keywords: Airport security and safety, Unmanned Aerial Vehicles (UAVs) threat, Risk analysis and mitigation, Counter-UAVs technologies.

The Myth of Diversification: The Destabilizing Impact of Diversification on Financial Institutions

2019 ◽  
Vol 5 (2) ◽  
pp. 179-219
Author(s):  
Kwon-Yong Jin
Keyword(s):  
Risk Management ◽  
Theoretical Model ◽  
Financial Institutions ◽  
Systemic Risk ◽  
Positive Element ◽  
Mitigation Measures ◽  
Financial Conglomerates ◽  
Failure Risk ◽  
The Stability ◽  
The Impact

Abstract This article analyses the impact of asset and activity diversification on the stability of major financial institutions. Diversification is typically viewed as a positive element in risk management. However, examining recent examples concerning diversified multinational financial institutions and a theoretical model of failure risk facing them, this article demonstrates that under certain conditions, diversification can actually increase systemic risk. Financial conglomerates can be ‘too big to manage’, they can become too similar to each other and susceptible to coordinated failure, and, most importantly, catastrophic losses in one part of the firm can overwhelm the whole firm. Based on this finding, this article proposes a number of mitigation measures to limit intra-firm spillover and to make the resolution of troubled financial institutions smoother.

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.

Risk Analysis of Rapid Construction Schemes Based on the Fuzzy Theory

2013 ◽  
Vol 838-841 ◽  
pp. 259-264
Author(s):  
Huan Yuan ◽  
Xiao Jie Wang ◽  
Yu Chuan Yan
Keyword(s):  
Risk Analysis ◽  
Risk Evaluation ◽  
Fuzzy Theory ◽  
Engineering Project ◽  
Factors Affecting ◽  
Construction Scheme ◽  
Rapid Construction ◽  
Construction Schedule ◽  
The Impact ◽  
Optimum Construction

In the engineering project in Contemporary, Rapid construction is an advanced managing concept which core is fast. On the basis of the fuzzy risk, risk degree and fuzzy probability and risk analysis, this paper analyze the factors affecting rapid construction, and with different construction project factors fuzzy risk evaluation set is established. From the Angle of quantitative the risk analysis of hydraulic engineering in the influencing factors of construction schedule. On the impact of factors on construction schedule to different schemes are obtained quantitative values. We can choose the optimum construction scheme reduces risk.

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 Development of Risk Evaluation and Mitigation Systems for Logistics System

2020 ◽  
Vol 21 (1) ◽  
pp. 92-103
Author(s):  
Ahmad Rusdiansyah ◽  
Della Deswiana Pratama ◽  
Muhammad Faisal Ibrahim
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Risk Evaluation ◽  
Risk Identification ◽  
Logistics System ◽  
Risk Response

Logistic activities are significant activities that pose various risks for the company. These risks can affect the company’s performance. To be able to compete in the globalization era, companies need proper risk management. This study aimed to develop Risk Evaluation and Mitigation Systems. We offered four stages: risk identification, risk analysis, risk evaluation, and risk response. A case study was conducted to implement the proposed Risk Evaluation and Mitigation Systems. The results indicated that the proposed Risk Evaluation and Mitigation Systems were proven effective to be appropriately applied to evaluate company risks and provide mitigation recommendations.

scholarly journals Design of Risk Management Based on Iso 31000 in PDAM Tirta Meulaboh

2017 ◽  
Vol 2 (1) ◽  
pp. 21
Author(s):  
Zainal Putra ◽  
Syafruddin Chan ◽  
Moenawar IHA
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Management System ◽  
Risk Identification ◽  
Risk Management System ◽  
Optimal Service ◽  
Iso 31000 ◽  
Potential Risks ◽  
The Impact ◽  
Water Meter

<p>Regional Water Company (PDAM) Tirta Meulaboh is the only state- ownedof West Aceh district that provides clean water for the residents of West Aceh, especially the residents of the city of Meulaboh and its surroundings. But in its operation the company has not yet to have a risk management system, so it has the impact on the company's survival and not optimal service to its customers. The study aims to identify risk, risk analysis and risk evaluation, in order to do prevention and mitigation of the impact of risk on each section in PDAM Tirta Meulaboh using risk management system standard ISO 31000. The process steps of risk management based on ISO 31000, starting from risk identification to methods Risk Breakdown Structure (RBS), risk analysis using matrix risk quantification and Risk Priority Number (RPN), and the evaluation of risks by using risk map. The results showed that in PDAM Tirta Meulaboh there were 43 risk events that have the potential business problems, which if they were not solved immediately it could affect the performance of the company, even the survival of the company. Of the 43 potential risks that were logged to the red zone, there were 5 potential risks which occupies the first rank is on productions departement: the defective of production water meter, the defective of distribution water meter and retrieval water by tank car without through the water meter. Branch Kaway XVI: customers are reluctant to pay the water bill and in IKK Rantau Panjang: water meter of raw water was damaged. The Efforts to mitigate against the risk of those 43 events which were logged in the red zone has not been planned and done yet by the management of PDAM Tirta Meulaboh.</p><p><br />Keywords: ISO 31000, PDAM Tirta Meulaboh, Risk Management</p>

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